The price of BitCoin fell from $1100+ to below $200. Is BitCoin a scam? Are all cryptocurrencies a bunch of scams because they carry this risk? And BitConnect is not registered to any financial institution. Their website information is hidden, and to think that they reside in the UK is laughable, based on the English they use on their website.
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Everyone defends their own investments i guess. The readon I'm powering down is that the reward pool at it's current weighting towards bloggers as opposed to investors is not attractive to new investing in the platform. Mining is, IMHO, a better deal. I could be wrong. I have lived through much volatility and to think a trading bot without emotion has an advantage seems possible. I have been wrong before but this crypto space has been good to me over the years and my gut instinct is to reduce my exposure here. I hope this is a success going forward as I will still be somewhat invested. I hope the ROI though does not just rely on capital gain through new investors. I also lost 15 btc on mt gox once so I have experienced a scam before.
I like your use of logic, Most cryptocurrencies...or all of them rely on new interest in them. Especially monetary interests.
They gain value and lose value with the interaction of people, and most value is acquired because people or entities bring other people into the space. In the end All cryptocurrencies require a ponzi type of format.
The auto trading bot that we are talking about sorta has bad days, and good days. for instance some days are almost 0% profit. In the end it isn't that they guarantee 1%, they just average just about 1 percent. In fact currently I think the average for this year is below 1 percent a day. But it is better than I've done lending on poloniex.
I believe the negative feel of bitconnect comes from its referral program, I figure if you take this out of the equation it just makes for an investment focused crypto currency that focused on speed, and staking as opposed to mining (note that you can mine Bitconnect as well).
Currently I have both lost and gained money with crypto, but I haven't found one to be the more legit version, or platform than any other. So ever venture so far has been risky for me. Buying my first miner, Spending my first btc, and so on.