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RE: BitConnect Scam Debate: I really hope it's legit

in #cryptocurrency7 years ago

I've done really well with it. I have over 24 loans with it ranging from $10 reinvestments to one over $5,000. Each loan had paid on the dot every 24 hours.

It does have a blockchain which can be observed here: https://www.blockexperts.com/bcc

It is open source. You can download the software if you like or audit yourself:
https://github.com/bitconnectcoin/bitconnectcoin

Once I saw the code, my anxiety went down a lot.

And my thought is the coin the has gone from a 17 cents in January or so to hitting $60 earlier this week.

If they were going to run with it they would have done it a lot earlier.

Plus, I've gotten my money out from daily payments and have had zero problems doing so. Which also makes me realize that when I buy BCC tokens with Bitcoin, I am trading with with another investor, who is probably taking out their daily payments. Bitconnect does not have my Bitcoin, another trader does.

I have also staked some coins on my own computer.

And recently there have been a couple of zero percent days. Those days stink, but they also show to me that the trading bot is not always perfect.

The coin does trade on Livecoin. But it does just fine on its on internal market.

As of this writing Bitconnect is currently number 10 on Coinmarket cap.

That's higher than Zcash, bitshares, and Steem.

I am a fan of Bitconnect. I know for certain powers on Steemit they don't like it. So I don't write about it. But I'm averaging a $100 a day at the moment. All from loans. I have one referral.

Could it fail. Sure, of course it could.

But it has an observable block chain, and auditable software. I think it would be hard to pull off a scam with those two things in place.

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Thank you, @mctiller!
I really appreciate your input

You can see the software and the chain/coin is legit. This does not mean that the company is.

This. And you can't know for sure if the FOSS code shown is what they actually run on their servers...

is the bot open source? I'm not convince there's an actual bot doing volatility trading, but it's a metaphor for it's undisclosed method of payout from appreciating company retained tokens.

I don't think there is any information out there regarding the bot's code if it exists at all... There are some people that claim they've tracked the bot. Search youtube... i think you'll find some links.

Thanks for this review.

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