Bitconnect : Not an Endorsement, Just a note to the critics.
Bitconnect.
What more can I say. A blockchain, MLM Marketing, Mining, Staking, and Lending Platform.
It is quite possibly the most cleverly devised crypto scheme I've seen in the last few years.
A few points:
A highly lucrative referral program. Check!
A high yield investment product. Check!
High yield POS system. Check!
POW Mining. Check!
... and for full disclosure. I have a loan into the system. Mostly just to learn more about it.
The reason for this post is to offer some advice to the critics.
Stop driving yourself crazy trying to stop this thing!
I'm not really a fan of Bitconnect either, but I have learned to accept the powerful mix of incentives and desire for new people to earn easy money in the cryptospace. I truly believe most people involved in Bitconnect are fully aware of the risks, but it's really hard to pass up what is essentially free money. The big promoters are cashing out or sweeping their profits into regulated exchanges. Time will tell how long it goes forward.
The Keynes Quote...
"The Market Can Remain Irrational Longer Than You Can Remain Solvent"
...comes to mind.
However, I did resteem NG Gavin's post earlier today because I thought it was a decent video. After today I will not really concern myself with the future of Bitconnect lenders. As should you.
https://steemit.com/bitcoin/@nggavin/ponzi-coins-exposed-coins-from-the-darkside
Herbalife has been going since the 80s this may go on for longer!?
Hey @robert-call - I've done an honest video review on Steemit before on Bitconnect as I've both mined and staked the coin - but I've never done a loan on it yet. Interesting to hear your thoughts on it all. Upvoted.
Yes, I resteemed that a few weeks ago. Fair review of the facts.
Here it is for anyone interested...
https://steemit.com/cryptocurrency/@mindhunter/bitconnect-bcc-an-honest-and-balanced-review-by-mindhunter-1497533358-0873363
Thanks for link @robert-call - I'll resteem this post as well in good faith :))
I Appreciate that!
Makes a pleasant change from bashing spamming minnows! Hee-hee! No worries Robert :)
300 days to brake even is far from high yield
Fine print.
'up to 40% per month'
Did someone out here worries about BTC existence?
The amount of Human and Financial capital invested in BTC and ETH is unmatched. Big difference.
So you think it will blow up? That you mean, here?
No. It may remain solvent for many years to come. As with Steem, Genesis Mining, and Bitconnect. Don't put in more than you are willing to lose.
caveat emptor
Thanks for wide answer here !
Just be fully aware of the risks with these possible ponzis. I actually love them. However I recently lost my money and one of the recent Bitcoin ponzi's. The name is me-coin.
Lol people can throw all the hate and doubt towards it but fact is people are actually making money and iam talking serious money, fact is nothing in the crypto space is guaranteed nothing online is guaranteed to be around forever even bitcoin is not yours until you have it in $$$ dollars keep in mind that any asset or business that you have online exists on someones server and they can not be there tommorrow so everything is a risk the only person that is safe is the one that knows how to manage the risk so if you have even an inch of doubt about the plartform or even scared of losing as little as $100 its best you keep your money in the pocket, glad you are testing the waters @robert-call : )
I thought already that you are propagating it, it maked me happy although that you said something critical about it also. For me its just a big HYIP... Why should they stop if they make money? I ve lost some little money on some HYIPs already years backwards, and dont plan to repeat that... :)
There is money to be made in a lot of places but we need to time our exit correctly too
Those who call it a ponzi are welcome to send me their BCC, i would gladly accept it
The term Ponzi or Scam was never used. 'Clever Scheme' is more appropriate.
hahahahaha, clever scheme
Thank You for sharing such Informative article regarding bitconnect @robert-call