For those of you that don't know. I started my BitConnect experiment nearly a month ago, I made my first deposit from proceeds that I had made from a lock screen app on my phone. In a way I'm playing with house money so if BitConnect does turn out to be scam I haven't really lost anything.
If you have been following BitConnect, you will know that a lot of money can be made through referral links. But for the purposes of this experiment I will not be making use of them, until I haven proven to myself that I can make back my original stake through interest payments only. In the spirit of only playing with house money,I will continue pool my lock screen earnings, as well as my earnings from Instagram shoutouts and reinvest when possible.
Ok lets get into it after day 26 I have made $33.92 off of my initial $100 investment or 34% ROI. My strategy is to reinvest the interest accrued at the first opportunity. BitConnect only allows you to reinvest in $10 multiples so I have to wait for my dollar balance to build up each time before I can reinvest.
Bitcoin fork Side note
In case you have been living under a rock for the past month Bitcoin forked or split with the new currency using the Bitcoin cash moniker. Whilst this happened I had a bitcoin balance in BitConnect, on fork day I retained my Bitcoin balance but also inherited the same amount in Bitcoin cash. From reading the BitConnect blogs they have plans to make it possible to trade Bitcoin cash for their own currency which would effectively allow people to invest in the two different versions of the currency.
At this stage I'm still sceptical whether this will happen or not, but considering they didn't really have to give me Bitcoin cash balance at all, I haven't really lost anything if they change their minds.
That’s it, catch you on the next update!!
Once again thanks for reading! As always if you think you received some value out of this post, please hit the upvote button, drop comment or follow me. ✌✌
Interesting man :) I actually put some money into them to try it out I have made back over $70 in like 10 days. The trick is not to REINVEST but to just take your fiat earnings and put it BACK into their token which keeps rising. Their token goes up and BTC goes up at the same time which pushes their USD price up too. If you just buy their BCC token daily with the interest you will be much better off than reinvesting.
Thanks for the info! I will try this out and see how it fairs!
I hadn't thought about it like that, I might push my daily earnings into BCC then reinvest when I reach $100 or something.
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