I'm doubtful and will not invest money there until I see someone who can make a solid case that it is indeed sustainable over the long term. I spent about an hour reading through Reddit/FB/Steemit content regarding how legit BCC was, and most say the same thing - might work not but long term it's not remotely sustainable unless more and more money is continually pumping into BCC token, making the whole thing one huge ponzi scheme.
I may be wrong, but I'll have to be proven wrong until I change my mind about that.
Either way I hope for you that I'm wrong and that you make a bunch of money staking your crypto there for interest.
Yea I totally understand. I won't want to invest in something unsustainable.
I'm thinking out loud but think about the paper money we use. It's a "claim on wealth" which you don't have. The only wealth people have is the "goods" they have in their possessions. Now think about the BCC. BCC is a receipt you're given in exchange for your BTC. The difference between paper money and BCC is that BCC is capped at 28M coins while paper money is unlimited!
I was wary about this initially, but because there are so many crypto currencies being exchanged, it’s going to be easy to find volatility if they break out to other currencies.
BitConnect may well be the catalyst for super inflation of fiat currencies and a real push towards crypto dominance in everyday living.
My main concern is, if the bot is so amazing, why don’t they seed it with a few million bucks and let it run for a year - then buy a diamond studded island with a few billion.
Right now, if it runs until January, I’ve got my seed back, and quadruple it’s value still investing.
Provided fiat doesn’t collapse (we all know crypto is the future at some point) then I should be able to buy a house and a Ferrari by end of 2018.
It’s got real potential to be attractive to almost everyone, so I don’t see investors backing away any time soon.
1%/day is unheard of for a legit business to offer, but I think that’s because we’ve been lead to believe it.
If I gave you $100 it wouldn’t be unheard of for you to give me $101 tomorrow. I’m a complete novice trader, but up 40% in a month with crypto, meanwhile my share portfolio managed by experts made a staggering 8% after 3 consecutive years of loss.
A lot to think about really. It’s an exciting time to be alive.
Exactly, the same algorithm should be easily applied to other crypto-currencies.
That's precisely what it came to my mind the first time came across Bitconnect. I think it basically steal the value of paper money and adds it to Bitcoin and other crypos.
It definitely is sustainable for the near future, but I'm just not sure if it will be BitConnect or something similar that is the final straw on the camels back that breaks fiat wealth.
Something will. We just don't 100% know what it is.
I'm doubtful and will not invest money there until I see someone who can make a solid case that it is indeed sustainable over the long term. I spent about an hour reading through Reddit/FB/Steemit content regarding how legit BCC was, and most say the same thing - might work not but long term it's not remotely sustainable unless more and more money is continually pumping into BCC token, making the whole thing one huge ponzi scheme.
I may be wrong, but I'll have to be proven wrong until I change my mind about that.
Either way I hope for you that I'm wrong and that you make a bunch of money staking your crypto there for interest.
Yea I totally understand. I won't want to invest in something unsustainable.
I'm thinking out loud but think about the paper money we use. It's a "claim on wealth" which you don't have. The only wealth people have is the "goods" they have in their possessions. Now think about the BCC. BCC is a receipt you're given in exchange for your BTC. The difference between paper money and BCC is that BCC is capped at 28M coins while paper money is unlimited!
I was wary about this initially, but because there are so many crypto currencies being exchanged, it’s going to be easy to find volatility if they break out to other currencies.
BitConnect may well be the catalyst for super inflation of fiat currencies and a real push towards crypto dominance in everyday living.
My main concern is, if the bot is so amazing, why don’t they seed it with a few million bucks and let it run for a year - then buy a diamond studded island with a few billion.
Right now, if it runs until January, I’ve got my seed back, and quadruple it’s value still investing.
Provided fiat doesn’t collapse (we all know crypto is the future at some point) then I should be able to buy a house and a Ferrari by end of 2018.
It’s got real potential to be attractive to almost everyone, so I don’t see investors backing away any time soon.
1%/day is unheard of for a legit business to offer, but I think that’s because we’ve been lead to believe it.
If I gave you $100 it wouldn’t be unheard of for you to give me $101 tomorrow. I’m a complete novice trader, but up 40% in a month with crypto, meanwhile my share portfolio managed by experts made a staggering 8% after 3 consecutive years of loss.
A lot to think about really. It’s an exciting time to be alive.
Exactly, the same algorithm should be easily applied to other crypto-currencies.
That's precisely what it came to my mind the first time came across Bitconnect. I think it basically steal the value of paper money and adds it to Bitcoin and other crypos.
My main concern is more of this (https://steemit.com/cryptocurrency/@ka82/can-anyone-share-his-her-thoughts-on-this) than what you raised above. But I think the whole purpose of cryptos is to engage everyone rather than make things exclusive for only a privileged few.
@blockchainttmft - I expanded a bit on my reply below and linked to the analysis posts by @ka82
https://steemit.com/bitcoin/@softgrip/the-future-of-crypto-and-fiat
It definitely is sustainable for the near future, but I'm just not sure if it will be BitConnect or something similar that is the final straw on the camels back that breaks fiat wealth.
Something will. We just don't 100% know what it is.