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RE: The BitConnect scam exposed
I thought this was a troll post at first, but was saddened to see it was serious. Bitconnect is an obvious scam, similar to Gladiacoin. No financial institution can guarantee 1% returns every single day. Even top hedge funds such as the Baupost Group only average 20% yield a year.
The model of Bitconnect is unsustainable and it will collapse once investor confidence becomes more wary.
Your comparing apples and oranges. This is not a regulated stock market They don't guarantee anything. Have you done any research? This article is 5 months old and bitconnect is still here paying out.
lol.... what about now? idiots....
Up in the comments someone just said that they just closed the site. I checked and....surprise surprise it is open still! :)
Do you even check your replies? I said the scam closed and it's closed. The site will remain online as a wallet for their ShitCoin. Try to inform yourself before speaking. This information is freely available and extremely easy to find.
tell me about it! I was dying as I read this xD
did you actually read what they say on their site? I will make it for you
The daily profit is not guaranteed. The interest rate that you earn daily using our investment platform is calculated by our BitConnect Price Volatility Software and accrued daily. Some days, the profit may be 0%.Read more
this is true. i have had about 4 days in the past one year i have been earning where i did not receive an earning. the 1% is the averae. i have had .05% and 5.0% days, very few, but most days i earn about 1.50% average, it is very possible for them to pay these earnings when everyone is trading their coins.
whilst I am still on the fence about whether its a scam or not I don't think they actually guarantee any 1% per day return anywhere that's simply the average. There are plenty of days where it makes no return whatsoever. Control Finance on the other hand is quite clearly a scam. I got caught out but knew full well that it was a scam. Sometimes you can make more than your original investment back anyway by the time they do fall over.
As for BitConnect from what I am led to believe there are trading bots out there that can average 1% a day trading the volatility of bitcoin. I suspect if they are legit the fluctuations in Bitcoin will reduce over time and therefore so will the returns. There are some good videos on YouTube that cover how it could be possible that they could generate these sort of returns.
it is very possible. i started out with 100.00 a little over a year ago and i have taken out over a thousand dollars in profits already and i now have 1600.00 loaned to them. i have reinvested from my profits to give them that loan. plus every time my loan contract is up after the 298 days i get my loan paid back after all the profits i had made for my 298 day loan. they pay instant withdraws every time. plus you can also send your coins to 3 outside trading platforms and sell them there and buy other coins. so if you decide to build your ether or dash inventory up just send your coins to one of those platforms and get any coin you want from your earnings. http://weurls.com/MileHighMillionaire
first of all they do not guarantee anything. for the last 2 days i made 0.1 and 0.5% there are days when its low but on average it returns 1% right now. if the company can no longer yield such returns in future, im happy with what i have made so far. im sure most people joining are cautiously optimistic as well.
I love BCC and yes they guarantee some small things a measly sum of 0.25% BUT That's because all my loans are over 10k... SO whatever the percent is I ALWAYS get 0.25% without a hiccup and to me these guys are geniuses no scam artists. The guy who created this ruined it for the stupid sheep followers and just lost them over a million dollars or atleast for people who can invest 100k or more