There are always gonna be scammers out there and unfortunately there are a lot of uniformed people too! Thanks for keeping us informed. I wonder if the SEC has gotten wind of Bitconnect! A lot of their citizens are getting sucked in and gonna be hurting when that house of cards falls - but I guess they don't have jurisdiction yet?!
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I had GM stock - what a scam that was, and not its back on the stock market again - SEC is worthless
Now so many people say shit about Bitconnect like its a sure thing that its a scam - and what if its not ?
Yes, I agree, bankruptcy and too big to fail is another scam. I have looked into Bitconnect and there is no logical way that they can continue to make the payouts they are promising. But I believe they have a mechanism to control this by requiring investors to exchange everything into BCC tokens. When the money stops coming in and the momentum shifts they can flood the market with BCC they held back and devalue the tokens. Investors will only receive fractions of pennies on the dollar for the value of what they put into BCC. It's a game of musical chairs with a lot of people and very few chairs so if you are invested best to get out as soon as you can. By the way, if you think about it, "What if its not a scam?", is probably the worst endorsement of an investment you could ever make.
Bitconnect is a risk, but they can't just get out of the game like others, because they have their very own blockchain and "COIN", that can't just vanish like a simple HTML website.
You are right. This is a much more sophisticated operation with their own token but when redemptions start pouring in they can still block transactions and devalue BCC almost to zero. So the result will be the same and it will be dropped from all the exchanges. I think part of their marketing success has been allowing people to think it might be a scam but that they can beat the house. I never hear any of their promoters say that they ran the numbers and checked the technology and this is a solid investment. But it's definitely not worth the risk and even if you get out with some money there's always the risk of clawbacks from lawsuits.
If they do what they say they do then numbers will work and this is a business making great profits like Renaissance Technologies making profit 40% a year after expanses for years for their investors however still no evidence of all the things they say they have and do makes it kind of shady looking
WOW, before you send any BTC to these dudes, can I offer you a better deal? If you send me your BTCs, I'll promise you a 580% return per year, which is 100% better than what the BCC grifters are promising.
Let me know if you want my BTC address.
sure and you have people who can prove you did it for them as well and you pay them daily interest of 1.6% for at least one year looking back
then send me your BTC address
Upvoted!!