Bitconnect and Steem are having the same trouble
Bitconnect an Steemit are having the same problem.
I already once explained the big problem of steemit here:
https://steemit.com/steemit/@mathsinnature/the-problem-of-the-steem-price
I invested 0.1 Bitcoin into Bitconnect and lent the money to someone. Today I logged in again and saw that i gained almost 6.7 percent of the invested money. But there was one big problem: the total amount of BCC (Bitconnect coins) had less value than 0.1 Bitcoin.
The well known cryptocurrencies are exploding so fast at the moment that even the rising Steem could not keep up. To invest time and money into Steemit is a good investion anyway, but it is easier to gain money with doing nothing than with steeming.
This phenomenon is a big problem.
If there is anyone who does believe that the Bitcoin will fall soon, he can of course invest a "small amount" of his Bitcoins into the Bitconnect plattform making some nice profit there. But probably nothing can keep up to the speculation gains.
Please share this post and maybe we also get some speculation freaks into steemit to make interesting posts well paid!
Do not worry bitcoin will get even higher for Core has finally answered to the scaling problem.
https://steemit.com/bitcoin/@sames/bitcoin-newest-scaling-method-adding-bech32-plus-others
hopefully you are right... ;)
it an official statement from core
ok thanks ;)
Hey thanks for the info, i still believe btc price will keep climbing the letter though
I also think so...
The main point of bitconnect is to generate a consistent rate, but Bitconnect also probably doesn't have a trading bot and are just making there money holding BCC tokens.
Can't it earn really by lending money in BCC?
When you do a BCC loan you are lending it to a trading bot, as someone who has used trading bots in the past I see this as a scam. If it really is a trading bot why doesn't it ever lose money. All legitimate trading bots occasionally lose money, also no bot ever gets the rates bitconnect does. Also if its trading BTC then paying out in BCC there should daily be 7-14 million dollars in volume when they transact to pay people out alone. BCC has a total volume of 13 million assuming do you really think over 1/2 of that volume is coming from Bitconnect alone. This all seems like there just hoarding coins and eventually will exit scam everyone.