--Introduction--
This post i'll make here is one of the biggest reasons made my steemit account. Getting sick and tired of all off scams and trickery in crypto.
This will be split in at least 2 parts, want to put out this as fast as I can, waiting for some emails and need to do some more background checking about the company.
--Post--
As this masterpiece of paint artwork shows you the artificial inflation machine (Bitcconect lending)
The key is that you have to lend out BCC in dollar worth and get BCC back based on the dollar worth interest rate, this makes you basically buy a token, lend it out, get less token back. But the token is "worth more". When the "loan" ends you get a dollar value in tokens back too not the actual number of tokens you lent out.
It also helps that you hedge against BTC with dollar, and BTC has been "steady" increasing in value.
So what are the function of the tokens? They could run this loan thing without them, oh wait no they can't because it won't "profit" without them.
Where is this bot? If its exist, it`s probably the best preforming bot ever made, why just not go to the stockmakert/Crypto and trade yourself you could possibly get more funding with lower payout demands if you could show that the bot is really profitable.
Terms for affiliate program
Though unlikely, Bitconnect reserves the right to adjust the commission rate as necessary to ensure the continued operations of the Bitconnect service
The MLM cheme
I really believe they look for youtubers and give them bonus payouts just to make them hype referrals even more. The youtubers will work to get more referrals and the people will under YouTube will push it and so on, it's going to pay to make other people invest. Classic Pyramid.
Excange
85-90% Of BCC is exchanged on a bitconnect controlled exchange might not be sketchy but could easily manipulate the market. Can't find any info about trading fees.
Mining
You can actually pow and pos mine this coin to but I think posmining is pointless because Bitconnect is probably holding a lot of coins. I don`t really have much energy left to research/calculate mining and there were a lot of red flags on this coin already.
Terms of use
Any technological difficulties experienced by the Bitconnect system may prevent the access or use of members virtual currency temporarily or permanently, depending on the severity of damage.
So they can basically take all your money and blame it on an error Woops.
Im tired
This is just some tactics, I don't even want to type out all of it. Its too much or am I'm a cross over analyzing with confirmation bias everywhere? There is a lot of manipulation here. For example a lot of trust building. Allot of bitcoin lookalike logos and a lot of "bitcoinyellow" everywhere. Site a has crypto news articles, daily divides, "trusted" youtubers and so on.
How it all ends
There will probably come a peak in the BCC System when a lot of capital is gained in BTC and the new user base and reinvestments is going down, the tipping point when the pile of BTC has maxed out and more went out than in, at this moment the exit will come.
They probably have some weird formula for this to trigger the exit.
They Will start to slowly dump there BCC holdings, Make like one year celebration of the site and make some really good deal just before exit. The site will go on some "maintenance" and empty all the wallets on the site. And fade away into cyberspace while some classic Wall-Street party will be somewhere with mountains of cocaine.
The company has until 31 June to file taxes, exit will probably be before then. Oh wait, I think if found there last exit scam. I'm not kidding found this popup after I did type the exit hypotheses.
--End Post--
Used a spellcecker so if something is not understandeble please comment below or if you have any questions.
If you want to help me grow my account, all donations will go back to steemit.
BTC: 1ABAmja66supAn96PJG2axUReo8kkANeMj
ETH&ERC20: 0x5841b596248D0ceeeAEc189dF23573Bff7BeeD90
Dash: Xt8XseoX97fFgEf3pWU6ZAXnGBuUNMJXds
There is a pyramid scheme right there, on plain sight.
I know this is an old subject, but here is my opinion on the Bitconnect Scam Debate.
I'm curious if you changed your mind even for a little bit, now ... after 1 month from writing your post?
Not really still waiting for the company to have more legit papers. https://steemit.com/cryptocurrency/@debugger/who-is-the-real-owner-of-bitconnect
Update
https://steemit.com/altcoin/@debugger/bitconnect-have-not-shown-the-proper-paperwork
"Binary plan" is literally just a pyramid scheme haha
Got sucked in to it because of their fancy website and professional looks. Bought me some of their coin. But after reading a lot of posts on steemit of it being a scam, I sold al of it for more steempower, shortly after it, steem did go to 1 USD in value... I never regret this move!
Nice timing!
This post received a 1.8% upvote from @randowhale thanks to @gnege! For more information, click here!
I was surprised seeing bitconnect in coinmarketcap number 22, with 335 million $ capitalisation, I was also sure about that it scum, but no I am confused (
Good thing I never got into BitConnect!
You will regret that decision :)
Interesting post. What do you think about mine? Would you share or even resteem it? Thank you.
https://steemit.com/bitcoin/@foodnature/the-truth-or-every-bitconnect-member-has-to-see-this
u use a "spellcecker " to spellcheck? guess it didn't quit work.
Well, it probably didn't even start work. :D good observation
Meanwhile in the coin market cap top 10
Being high marketcap when you control all the supply is not that impressive.
If you think its legit just because it works for now.
Read up on Bernie Madoff $65 billion ponzi it went down because of the 2008 market crash. His ponzi lasted for almost 20years.
Thanks so much ofr the info. resteemed and I hope I can get at least one person out of the scheme bfroe BCC collapses. check out this video bix posted: BCC belongs to the queen
https://steemit.com/cryptocurrency/@flurin/bitconnect-your-money-might-belong-to-the-queen
Hi! Have you heard about @krwhale? It is similiar with @randowhale. For your information please click on.
Bitconnect is defintetly not a scam. I am earning money as we speak and I am giving out 100% commision on your intital investment on https://bitconnect.co/ , no questions asked.
That means :
Invest 100 USD, get 7 USD
Invest 1000 USD, get 70 USD
Invest 10000 USD, get 700 USD
Invest 100000 USD, get 7000 USD
After you make an account using
my reffereal https://bitconnect.co/?ref=Kanhel and you invested into the website then
please send me and e-mail at [email protected].
Alternatively you can contact me on skype @ meesmees35
I will send you your 100% commission on the same day that you invested.
https://bitconnect.co/?ref=Kanhel