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RE: Prediction: when Bitconnect ponzi scheme will implode
@ctyptouniverse you forget they also make money from ads and their press releases and trading fees in the platform.
@ctyptouniverse you forget they also make money from ads and their press releases and trading fees in the platform.
Hi @sames, thank you for bringing that up. I don't think they get enough from ads that is worth discussing. We can calculate trading fees. Their average trading volume is around $8 Million, fee is 0.25%. So their monthly income from trading activity should be around $600K. Also, I did not take into account trading fees they pay to other exchanges to trade bitcoin plus office and research expenses.
My aim is to point out the elephant in the room, unrealistic return of 1% daily and their multilevel marketing scheme. Again, thanks.
@ctyptouniverse yeah i said it making them last a little longer. But i think they do make about more than 1K a month from ads.
Aka banner ads. ad networks, sponsored posts. Here how much they could make with ad networks alone http://www.statshow.com/www/bitconnect.co
Yeah, whatever they could make won’t be nearly enough to cover daily interests they pay out. I don’t know how much their book investment is (investment + reinvestments people hold with bitconnect) my guess should be at least 100m, so they need to pay out around 1m a day. While investors keep reinvesting they will be fine, but when they start withdrawing things will escalate quickly.
but it making them last just a tiny bit longer than other ponzi schemes
Yes it did, but clock is ticking. Their time will come soon. Hopefully more investors pull out their initial investment at least before it's too late.
well said