WARNING: Don't invest in Bitconnect
It screams HYIP Ponzi scheme, and many people are getting sucked into this trap. I have even seen comments of people selling off their cars/houses to invest in this.
Basically for those of you who don't know what it is, you lend Bitconnect money, they lock it up for a set time, and promise about 1% returns a day, up to 40% a month. To get a sense of how much that is: Charles Ponzi, the man that "ponzi scheme" originates from, promised 50% in 3 months.
Stay clear.
To be honest, there are questionable aspects to bitconnect but I don't think the numbers are one of them. The fact that they decided to make their own coin and the fact that they release no info about the supposed trading bot is what makes it suspect in my eyes. Making an average of 1% daily is perfectly possible (I average not far from that and I don't have millions and millions of dollars to manipulate the market). I am not saying it isn't a Ponzi scheme. It very well could be, but I think people seem to overlook the shady stuff in favour of what seems to me to be achievable. Thanks for the post, upvoted.
maybe