Countless arguments can be made (and have been by many) for both sides of the discussion. The way I look at it is that people consider it a scam because it's so lucrative (compared to just about anything mainstream) but as has been said, people are programmed to believe that this type of return isn't possible (it is, but the banks keep that information hush hush).
At the end of the day though, until they stop paying their bills or get shut down by a government for doing something deemed as illegal, they're a legitimate business. I don't use the referral program and am getting returns on an investment I put in as an experiment, so this news doesn't affect me either.
I personally look at any investment I make in their lending program as money I'm probably not getting back, but am really starting to appreciate the money as it breaks the ROI barrier.
if you really think about it, you could make vastly more profit trading for yourself daily, especially if you know what you're doing. for example, I average around 2-5% daily profit made, but I'd much rather have passive income than have to worry about delays in depositing between exchanges when trading between 2-3 of them, or fees etc
I don't feel like this will change anyone's opinion or stop people from calling it a scam.
Doesn't effect me anyway, I make good enough money from lending and I would do it even if BitConnect completely took away the referral program.
Countless arguments can be made (and have been by many) for both sides of the discussion. The way I look at it is that people consider it a scam because it's so lucrative (compared to just about anything mainstream) but as has been said, people are programmed to believe that this type of return isn't possible (it is, but the banks keep that information hush hush).
At the end of the day though, until they stop paying their bills or get shut down by a government for doing something deemed as illegal, they're a legitimate business. I don't use the referral program and am getting returns on an investment I put in as an experiment, so this news doesn't affect me either.
I personally look at any investment I make in their lending program as money I'm probably not getting back, but am really starting to appreciate the money as it breaks the ROI barrier.
yea, exactly, they've been used to 0.01% per year on their savings - while bank lend them the same money for 16-18%.
I've also notice they are very transparent in terms of every transactions.
Make sure to check my other post on bitconnect and let me know your thoughts:
https://steemit.com/cryptocurrency/@ka82/bitconnect-investment
if you really think about it, you could make vastly more profit trading for yourself daily, especially if you know what you're doing. for example, I average around 2-5% daily profit made, but I'd much rather have passive income than have to worry about delays in depositing between exchanges when trading between 2-3 of them, or fees etc
Agree...their daily payment is satisfying enough. feel free to check my other post on BCC and let me know your thoughts:
https://steemit.com/cryptocurrency/@ka82/bitconnect-investment
Has anybody cashed out?
$5000/mo profit on a $17K loan ;)
http://afino.link/BitConnect