One of the most controversial aspects of Bitconnect is their referral program. Up until now, they've been promoting unlimited levels. This means you'd earn bonuses from downlines extending as far as they go.
Is this sustainable for the company?
Bitconnect's referral program has helped move the coin into the top #20 rankings. On occasion, BCC has even broken the top 10.
But yesterday, the company wisely decided to limit the referral levels to seven.
This is a very good thing for BCC and those involved with the project. It signals the company's longterm commitment to running a sustainable operation beyond its current rapid-growth phase.
I wouldn't be surprised to see more changes to Bitconnect's various growth strategies in the future.
Let's hope Bitconnect is more than a short-lived HYIP.
Time will tell...
I think It is a step in the right Direction ! I am a active user of bitconnect coin myself and that was one thing I was not pleased about .
The restriction of the level of referrals will surely add a great deal of stability to the program.
I feel they did what ever it takes to get their coin off to a roaring start. But now that they’re worth so much and have such an impressive brand and user base, they have to think about long term sustainability.
I’m expecting more changes to their program moving forward.
I may take another look at 'em because the way it was being ran before made me very wary of their intentions :)
They're now valued at around $400 million. That's a lot to lose if they screw things up. It's also why I don't believe they'll run off like thieves -- they can make so much more as a legit business.
You have a point here. Will definitely check them out. Again.
That is why I'm using Control-Finance. It seems way more sustainable with their earning payments and referral program. Plus it doesn't have it's own token to mess around with and not term limit to the deposit earnings.
If you haven't heard of it, here's my link: https://control-finance.com/?ref=LongStockSilver
All in all, I assume both of them will be around for a long while. I just think Bitconnect will need to restructure at some point.
What I like about Bitconnect is their (physical) presence in an expanding list of countries, and also their huge amount of capital. There's a bit of comfort in that, although it is still a high risk investment.
Control-Finance has a ways to go in that respect, but I'm definitely keeping an eye on them. All these second movers will improve on what Bitconnect has done.
Totally. Bitconnect is the big fish. Right now the two big legs up Control finance has, in my opinion, is the fixed earnings percentage and the "life-time" payouts. It helped me to make spreadsheets and it also helps with the "sit-and-forget-it" investment I like.
CF definitely has their own flavor. You're essentially giving them money to trade on Poloniex in return for a predictable profit. I haven't invested any $$ with CF yet, but it's a likely candidate for my next money drop.
Yeah, definitely look into it if you're interested. I did $10 at first because it seemed cool and $10 was not a big deal to me to try it out.
The big thing that made me feel more comfortable was them saying there looking into releasing their own exchange. If they do, they will be making commission on trades, which makes it more sustainable than just trading on Poloniex.
The $10 minimum is gold. I know Bitconnect probably doesn't want to deal with small loan amounts, but the foot-in-the-door technique is amazingly powerful.
This is new. I may look into bitconnect a bit more but I am still a skeptic.
It's good to be skeptical. Everything in crypto is high-risk, and Bitconnect is no exception. Even though they've paid everyone thus far.
One giant step in gaining credibility I'd say..unlimited downline levels? Common man
It was a great marketing ploy, especially in South East Asia, to give the coin traction. But I feel they are growing up now and figuring out a plan for long term sustainability.