Disclaimer: I am not promoting Bitconnect on Steemit, so Steemit whales who discourage Bitconnect should please respect my opinion to share my frustration about the platform. Thank you!
I don't really remember how I found out about Steemit but if I think really hard, i'm pretty sure I probably found out about it through one of the Youtubers that have a large amount of followers on youtube. If I was still ignorant about blockchain and decentralized system, I would have considered Steemit to be a scam. What attracted me to steemit was the fact that "it is not regulated and that you can post WHATEVER you want on steemit." (Well, at least that's what I was told then)
Satoshi Nakomoto chose to remain anonymous in a decentralized system for a reason. Genesis mining and many mining farms chose to stay anonymous in a system that is not fully regulated by the government for a reason also. There are many business and companies worldwide that the true owners or founders are not identifiable to the people so why is Bitconnect different?
I love steemit community, I invited all my friends and most of my family members to this community. I made paid Ads to promote this community because I love the platform and believe in the platform.
Why are the members of steemit getting down-voted for sharing or promoting another system they believe in on Steemit? I believe in steemit and decided to invest my own money into this community but I personally feel it is unjust to discriminate another platform without any evidence that they have scammed the people.
Every individual has the right to invest in whatever they chose to invest in and the last time I checked, no one is getting forced to invest in something they do not like. Also, how many years would Bitconnect would have to exist for before the masses would accept it? There are people out there that might hear about all the risk involved with Bitconnect and say "That is exactly what iv'e been looking for" Thanks to steemit.com.
I personally think it is one of the best investment platforms out there and Im glad I found out about it now. They might eventually prove themselves otherwise just like many cryptocurrencies and exchanges, but in the meantime Bitconnect hasn't failed any known person for almost a year of service and any other information out there is a FUD.
If you love Bitconnect please, let me know in the comment section below and if you also think its a scam, please leave a comment also and we can discuss about it like adults.
References:
- monkey picture (https://www.psychologytoday.com/blog/having-fun/201602/thinking-the-fun-it)
- Samuel-l-jackson (http://www.truthrevolt.org/news/samuel-l-jackson-i-really-wanted-san-bernardino-terrorists-be-white)
- Steemit photo (https://steem.io/)
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Thank you for reading through. Please don't forget to Upvote, Re-steem and follow for more interesting posts.
I love Bitconnect too!
Ya they are making big moves and its simply going to continue to be hated by those who don't like what it represents in the crypto space. Most people fear what they don't understand or WANT to understand.
Well said bro..
I just joined bitconnect yesterday with $160, I wish I had heard about it long before now. But all the same I haves my fingers crossed
Thank if I can upvote u I will but as u know, my upvote won't give u a cent.
But anyways I'm following u now and will resteem.
Thanks for this post
Thanks!
A Friend told me about it few weeks ago. But I will do my findings too.
Good!
Love Bitconnect..
Me too! Am glad I did and wish I joined the program sooner. .. Thanks for your comment.
Bitconnect itself isn't necessarily a scam, but it's lending program definitely is.
Thanks for your comment. How can a cryptocurrency not be a scam but have a referral program that is a scam as part of their whole system? Please explain what you mean to me more..
You can trade BCC, which is legit. I'm just doubting they will keep paying out all money of lending. At some point they will stop releasing the money after the set time. That makes their lending program a scam, but not necessarily the coin itself. You could still trade it... They don't take your coins.
Just because Albert Einstein was intelligent and because he was part of humanity, doesn't mean humanity was intelligent. Humanity is averagely quite stupid.
Thanks again for your comment!
Haha.. So funny how you wrote "I'm just doubting they will keep paying". What proof do we have that steemit will always pay us to post on steemit? what proof do we have that Poloniex, coinbase or any other exchange will not pack up and leave with our money? What proof do we really have about anything in a decentralized system that runs on blockchain technology?
Also, you wrote "You can trade BCC, which is legit" So if i'm right, you mean Bitconnect is a legit system that has a non-legit aspect to it. Why would any 'Legit' business want to do that?
You're welcome for my comment!
I don't have proof that steemit will keep paying me to post on steemit. I have no proof poloniex or other exchange would do that. But why would exchanges do that? They get a large share of the transactions. 0.5% fee at 50 million daily volume would mean almost 100 million dollars profit per year. (Ofcourse minus the costs of being the exchange, but those definitely aren't as high as 90 million.)
The reason that exchanges don't just take all the money and run, is because by staying steady as an exchange, they don't risk being caught and they will most likely actually gain more money from simply staying there.
For exchanges, it's clear how they get their part. At bitconnect, it's a bit weird. The lending program is very weird! 1% per day? How the flying chicken phones could that possibly be sustained for long? I get that we have to be open for new stuff, but this is obviously not a legit thing.
I'm aware of what I wrote. I'm not saying Bitconnect is a legit system. I simply stated that trading BCC would be legit. The coin itself is legit. And after they run away with all the money, the coin isn't a scam. It's the lending system. It's hard to explain and I guess it's an opinion-based war we're going to wage if we continue discussing whether BCC itself would be a scam once the lending program turns out to be a scam.
Overall, I'm quite sure the lending program will stop one day and we'll have a rush of negative posts about bitconnect for a week, till everyone calms down and realises it was their own fault, as their behaviour was obviously too stupid to deserve anything better than losing their money.
These were just my thoughts on this subject :)
As always, I appreciate your input but i still respectfully dissagree. You wrote "1% per day" If you were signed up on Bitconnect.co and use the program, you will know that we do not get paid 1% daily. There are days you only get between 0.3% and 0.6% which depends on the volatility of the market. You also wrote "You are quite sure the lending program will end one day" I think we should all probably wait till we have a legitimate evidence that Bitconnect will end the program before we jump to that conclusion.
What you showed me, was still 5.89% in 6 days. That's about 1% per day... Believe me, that's not possible to sustain for longer periods of time. And THEY TELL YOU that it depends on the volatility of the market, but that's just what they tell you. It's not at all backed up by logic. Trading software that generates over 1% per day? You really sure about that one? I rather think that they do those differences to be able to:
And I think we do not need "legitimate evidence" before we start calling bitconnect a scam. It's obvious that it's a scam. This has been done so many times in the past... It's called a Pyramid Scheme. The new investors pay the old ones.
It's obvious to me and I would like to keep others from being scammed.
So far all the people criticizing BitConnect have NO PROOF that is a scam! Pure speculations and assumptions. I am on it. I will be documenting progress here:
https://steemit.com/bitconnect/@cryptoizotx/bitconnect-lending-beginning-of-my-yourney