Ever since I've joined the Steemit and Crypto Community, I've been seeing a lot of people pumping up bitconnect, which could possibly be a scam.
According to @thegrinder's post, he explains what bitconnect is:
"For those of you that don't know, BitConnect is a cryptocurrency(BCC) and a site that promises its users a return of up to 480%+ in cash(not crypto) per year, and even a guaranteed profit of up to 91.25% a year, depending on how much you invest, with no risk of loss! They claim these money are made with a cryptocurrency trading bot that they created."
Excerpt from @thegrinder's post : https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
Here's the summary of how @thegrinder shows how it's a scam:
"To recap: They attract users by promising amazing returns on their investment. They artificially increase the price of their crypto by tricking users into buying it with Bitcoin and giving it back to them, along with the Bitcoin. They pay back the interest to their users from new investments. When their profit is maximized, they sell all of their artificially inflated currency(7000%+ since release) and Bitcoins and disappear."
Excerpt from @thegrinder's post : https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
So anyway, he talks about how the cite is shady, and how it's too good to be true. The cite does have bad english and grammar, which shows that it could be run by a bunch of scammers in another country. Legit websites wouldn't be too good to be true and would have better English, typically.
I mean, it is just too good to be true:
And more and more people are noticing it, and are flagging people who are pumping bitconnect and other scams.
Why do you think @craig-grant has been getting flagged by @fulltimegeek? Because people are realizing he is pumping up a scam, and @craig-grant, if you see this, it's nothing against you personally, but it really is a problem to be supporting that cite. He is currently powering down because @fulltimegeek is flagging him and he probably figures since @fulltimegeek is taking away his money he is making on steemit, he should quit. I don't know the full story, but what I can definitely say is bitconnect is a scam. And all of the people pumping it up, @trevonjb @yuliana and @craig-grant are getting flagged because people are starting to realize they promote a scam cite. I have nothing against them personally, i'm just pointing out the fact that people are realizing bitconnect is a scam, therfore they are flagging the people supporting it and pumping it up.
Look how much he is getting flagged:
That's just crazy, now he is losing all of his money he made on steemit...Which is sad. I wish you luck, @craig-grant! :)
I don't know anything about bitconnect, but most of the crypto community claim the same thing about steemit from the start. So who is wrong and who is right here? Who knows. Time will tell.
What facts do you have its a scam? FUD HERE!!!! Your jumping on a band wagon with no proof! Most likely for some quick steemit upvote train money. Who is the fraud. Stay poor friend. Some scam for top ten in cypto market cap.
The whole thing can fail tomorrow for any number of reasons, as most things can. That still won't mean you have not made up claims with no proof and pushed fear.
It's one thing to caution its another totally to point fingers with no proof.
Not a good exercise of free speech. IMO
Actually I am going to delete my post didn't realize this kid is 14. Nothing wrong with doing some research , just don't use names if you don't want legal trouble! I disagree with this post, but keep at it and you will be successful. Crypto will only keep growing!
He should be careful no matter his age.
I was cautioning people, not pointing fingers. I was showing the tell tale signs. The title is just to attract attention, and apparently, it worked on you. I don't even think you read my entire post, but if you did, I just want to let you know that I think it is most likely a scam, that is what I was saying.
Did you or did you not tag a name? That is what I am talking about
Also, you got my attention when you call bitconnect a scam with NO PROOF! I have made $1300 in interest in 40 days off of $2300! I don't care who down votes who, I only see my results!
Also, sending bribe money ain't the way to go either, but steem is done anyway, because of this kind of crap!
You are calling many people scammers...
"And more and more people are noticing it, and are flagging people who are pumping bitconnect and other scams. The people who pump bitconnect either are ignorant it's a scam or work with scammers themselves or are scammers themselves."
And you know what..you could be right..but are you sure?
Sure enough that you understand the law, and have proof to back your claims.
Sure that your not hurting anyone? Stopping people from enjoying the service.
Starting a panic that brings things down which would otherwise not happened?
Temerity is a wonderful thing, just make sure the fight is worth it and your pointed towards the enemy.
It is only in the top 10 crypto market cap because people like you support it and use it.
Carried away much?
Use your internet wisely.
Who are you talking to? @paulyaces76 I tagged the people who were getting flagged, what the hell is wrong with that? Im giving EXAMPLES of PEOPLE who are getting backlash for promoting bitconnect. Read my newest post, where I clear up things :
https://steemit.com/bitconnect/@alex-icey/bitconnect-a-scam-or-awesome-way-to-make-money
I trust these guys more than banks and car dealers those are the real scammers. Even today many think steemit is a pyramid scam. Blockchain is an eye opener that's all I have to say.
I really don't get how people fall time and time again for these scams (pirateat40, anyone?).
If you just do basic math:
BTC median yearly gains in the past five years in % vs. supposed gains by btcc.
Btc still wins. And you keep your btc to yourself.
You have to be really bad at math to fall for these scams.
Shame for craig though. He seemed so chill. Maybe he got scammed himself? We'll never know.
Actually I am going to delete my post didn't realize this kid is 14. Nothing wrong with doing some research , just don't use names if you don't want legal trouble!
I don't think there is any trouble here. Just can't be yelling fire... no matter the age. Let's not be as harsh.
Back to stacking.
Thank you VERY MUCH for this informative article! I, too, have been seeing all of the articles promoting BitConnect and while I'll openly admit I am a crypto "newbie," I know when an investment opportunity looks way too good to be true.
I had my suspicions about this and so I held off exploring it any further. After reading your post, I'm glad I did.
I'm sure you are going to be saving people a lot of headaches and a lot of money with this information.
Upvoted and followed you :)
Yeah, i'm glad I can help! Thanks for reading!
I got the same feeling when I first heard of this BCC. It just sound as to good to be true... i'm glad I didn't jump in with two feet!!!
Even him, might get scam. It is a great caution for a new person like me to making a move in cryptoworld
People also said bitcoin was a scam, so far no one has been scammed on bitconnect so why don't u save your BS 'ITS A SCAM" til they actually scam someone?
Steemit has to be the first site to run off of good karma haha. Cheers buddy! Hope you find a briefcase of money soon!
Thanks man! We shall all find success
i tried it out and i was only losing money. what do you think about Genesis Mining @alex?
Hey, I just started mining with a set of 2 GTX 1070s about a month and a while ago.
I mined for a month, I sat down on my couch and watched the money print, it fealt good. I celebrated ... A little too much and made the best bad investment of my life LOL
I used my 30 mBTC at the time ($80 CAD)
Do you see the issue? 30 mBTC now is worth about $150ish CAD. If you're going to buy into genesis use fiat currency! [3% off if you choose to do so by using this code - buryFk]
You are right @melodiclogic! I am on GM too and i compared with Bitconnect and from my side was not worthing it! I have my own hardware at home that i build in the past months. This of course is cutting pool fees. check it out mine: it would be great to see your too!
https://steemit.com/blockchain/@andreolf/what-do-you-think-of-my-first-mining-rig
I doubt this claim. What time frame?
use it for a couple of month @fractalfreedom. What is your timeframe and interest? very interested to discuss!
I also think so. I've gone to their site once, watch their video pitch, and it was confusing as hell.
Where many invite to join bitcoin
But how do I want to join because I do not understand what is the issue and how it works
Thank you so much for acknowledgment :)
Upvoted
Only time will tell if bitconnect is a scam or not. Lets see if those individuals will be speaking of it once it stops paying. Give it time, a house of cards crumbles so fast :)
Thanks for sharing. Upvoted,resteemed and followed.
Yes, sounds too good to be true! Time will tell if you are right! So much supporters and on the other side so many people that say its a scam!
scam?. bitconnect?
Maybe is scam
YES! I agree, BitConnect is a scam!
I also wrote an article about this recently. If you get a chance, you can read it. Nice to meet a like-minded author who shares the same idea.
https://steemit.com/news/@panda12/is-bitconnect-a-scam
I feel very happy to upvote and follow you. Please help me upvote
I read rumor that Bitconnect uses the Haasbot.. But of course there is no way to verify this.
Very good blog. I was about to post a similair post. Scams are gonna kill the blockchain ecosystem. People really need to research what they invest in. I really advice people to take a look at: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check for example: https://www.coincheckup.com/coins/BitConnect#analysis To see the: BitConnect Investment research report.
I really hope that bitconnect is not a scam, but facts are pointing to it. At least I hope they last for a while.