I have been trying to do as much research as I can about Bitconnect and am really half half on rather its a scam or not. It is a really interesting idea, and its cryptocurrency is doing really well.
Leave comments on what you guys think. If you make any claims try to provide as much evidence as possible. Thanks!
Nobody really knows for sure. They do pay out, but they are really not at all transparent about their trading bot. They don't disclose how much the bot made and what it traded. People who say that it's absolutely definately a scam and those say it's definitely not are both being dishonest. We don't know what the future holds.
I suppose comes down to anything only be prepared what you can afford to lose
yes its a scam, but u got to get out before it ran out of money.
No, it is definitely a scam. They claim to be able to guarantee at least 0.25% per day on any amount over $10k. No matter what the price of BTC or BCC does. How could anyone guarantee that? It's impossible. 0.25% per day is well over 100% per year. Get real!
Well they are paying thier lenders right now, but until when? I tried by investing $100 , which is the minimum amount. The lending bonus is credited almost everyday and I have received around $35 dollars in tha past 30 days.
The scheme seems legit only on the point that they are asking thier lenders to invest in USD , not in BCC , which means that they are gonna pay you back your invested USD in USD only. The increased demamd of BCC will push the prices to great levels .
For example- When I purchased a BCC a month ago it was trading at a price of around $20 , so I had to purchase 5 BCC in order to make $100 for lending. My initial investment was $100 or 5 BCC, now BCC is trading around $60. Now if they return my initial investment to me which is supposed to be after 299 days, considering that the price of BCC remains the same at $60, they will pay me $100 dollars which is just 1.6 BCC, and they can resell the remaining 3.4 BCC.
Maybe this lending scheme is just to increase demad and price of BCC.
Only time can reveal what is the truth.
But if you wish to lend use my referral -
https://bitconnect.co/?ref=Premkumar
Yeah I agree. I have spoken to others more in the know than me and they have said it's a ponzi scheme and I have always been told if it sounds to be good to be true, it probably is a scam. But when I look at (forgetting the referral system) it looks like just a manged fund of some type.
I did an 800 $ to test it out. Made 6.95 $ the first day, wish me luck! Its not on coincap.io so it seems a little sketch we will just have to wait and see. I hoping it doesn't skrew me but Im optimistic as possible lol
Yes, of course. How could it not be?
It's definitely not sustainable. The chances of BitConnect being around for much longer is quite slim.
I would disagree :D