I have been trading and moving crypto since May 2017, and it seems that when I think I have something figured out, I learn something that completely changes my perspective. I have managed to make a decent amount of money (which may seem like nothing to some). The issue I have with it, is that it has consumed my life. I don't want to constantly be checking my phone for prices, or being glued to my computer screen. Far more time has gone into it than its worth on the scale of how I want to use the finite hours of my life.
I had briefly seen affiliates of Bitconnect pushing the coin and the investment, and felt like it was some sort of scam. How could anyone seriously make that kind of return? It is just too good to be true, surely it will drop out at any moment, right?
I don't think the answer is so simple because cryptocurrency is in it's infancy. Some argue that having to reinvest constantly and wait to get your funds proves it is a pyramid scheme. Thats absolutely ridiculous! What are you doing on steemit?! I am not certain either way, but I think that people have gotten very used to a society where savings is alien. In decades past, savings accounts would yield really respectable interest rate (doesn't even keep up with inflation anymore). Have we removed ourselves so far away from savings and become so addicted to consumerism that we don't recognize a good thing?
The model is just as good as steemit, the difference is you only need to take a drink from the fountain when you have another $10+ to invest, or you choose to take your interest payments and convert them into Bitcoin. Like steemit, all you are doing by loaning money back is powering up. This is what stabilizes the economy, much the same way you would likely trust a bank that held enough gold to back it's paper money.
I honestly think that affiliate marketing gets balled up with scam, but lets investigate what affiliate marketing really is here. On steemit, if you have a post that you want to draw attention to, which is in your best interest, you share it all over. YOU market your post, and others gain rewards for curating it, and esteeming it, while giving the content creator the biggest incentive. Now, imagine that you have a steemit account that has 10k steem powered up, is it possible for you to make one steemit post and double that? Certainly, if enough/the right people up vote. That profit can happen within a matter of hours. I am not at all surprised that 1% daily can be done consistently on Bitconnect, and it is more realistic to the average person because it is passive.
I got into crypto hoping to make money fast, and at times I have. I think now, I am more interested in consistency in growth. There are a lot of unknowns, but the coin is traded against bitcoin and the demand is clearly there. I bought into Bitconnect, and I strongly believe it will pay off for me. Passive earning. The affiliate links, which I used simply to have an image on here do benefit me if you use them, but honestly it doesn't matter if you do, that sometimes turns people off. I suggest that you look into it for yourself, and as with anything crypto, only put in what you are willing to lose.
My bottom line though, is that to ask if Bitconnect is a scam, or if it will survive, I think is the same as asking if steemit will survive or if it is a scam. Maybe crypto is a scam altogether, who knows, but with the integration of paying for goods and services with crypto like we have seen with overstock.com, and being able to convert profits into BTC and immediately spend makes me much more comfortable with this. This is actually a gamechanger in my opinion. I hope I am right.
While it may not be a scam in your opinion, it could be considered spam. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..
Some things that can be considered spam:
Are you fucking kidding me?! You idiots are going to kill this site through censorship. Or you will continue the whale circle jerk and not touch people that do the same like @trevonjb or @craig-grant. Because something "could" be considered a scam doesn't mean it is. If anything, it makes steemit look like a scam now. Bring on the cheetah bot bitch, lets sink this pile of shit together.
Upvoted solely because you didn't include an affiliate link 👈
Haha fair enough.
The Bitconnect coin just keep on going up in value.
I have a feeling it will go much higher. Much like I expect Steem to eventually be much more valuable.
Nice post, upvoted! Do you got a sponsor right now on bitconnect? =)
Fortunately I do! @joeyrocketfilms is my sponsor and really puts the effort into answering questions and does some fantastic videos. Also very honest and doesn't promise the Mun.
Ok, great =)
Also, if you want some great content regarding Bitconnect, I highly recommend checking out @joeyrocketfilms
Haha thanks man.
I have been tempted to trade bitcoin, but I just don't know when to buy and I know with my luck at trading as soon as I buy them they are guaranteed to crash my friend. Lol
You should certainly make sure you are comfortable with it, I have lost money very fast and it took me weeks to get it back. On the other hand..I have ridden a pump that turned 500 into 3700 in less than 12 hours. I am not as good as many people are at seeing what is coming next.
Really well said. There are reasonable ideas and explanations as to why bitcoin, ether, litecoin, steemit and bitconnect are all scams. People told other people they were stupid and foolish for buying bitcoin and it just hit $4000. I don't know what is or what isn't a scam but I'm willing to take a chance on most of it it's all because of bitcoin. Bitcoin has done the impossible over and over again. I think other things may do the impossible in the crypto world over and over again as well. Just like how bitcoin and steemit have molded into more sustainable platforms or currencies, I think bitconnect may be able to as well. We will see. For now. I'll just keep collecting my payments and also keep my eyes and ears wide open. Great post Lum 👊🏼