Does anybody else smell something intensely fishy here? If you follow my page you know I've written at length before about how to identify various types of scam, such as investment scams, the Publisher's Clearing House scam, the Ponzi scheme and the classic "Multi-Level Marketing" scam.
Can you tell me what's wrong with this event? Also the fact that literally every commenter is spamming some sort of referral code. What's that a common symptom of? For reference, let's compare it to an "Amway Achievers Rally":
How the fuck are terms like "BitConnect Affiliate" not immediate red flags to people? And now they're releasing a "smart card"? What is this shit? All sorts of alarms are going off in my head. It's not just me, is it? This reeks of flimflammery and makes me glad I never invested in BC. Sound off in the comments if I'm wrong and explain how.
The question is who is really behind this scam. Do you think the real promoters (owner) turned up in Thailand? I doubt he would show his face. Probably those who were there were paid patsys who aren’t bright enough to know the risks of beingn a “promoter”
Given that the creator of Bitcoin is somehow still anonymous last I heard, I'm inclined to agree.
@alexbeyman,
BitConnect or BCC is a scam for me! Never trusted it from the beginning and feel like fake market trend is holding! Collapse seems near! Great post friend!
Cheers~
Hello! I like it when people question things, because that is the best way to find out the truth about somenthing, right now there are a lot of crypto scams going on so it's good to keep our eyes opened so we don't fall in one of them. Keep this kind of post coming :D
I have seen a lot of referral links for BTC, somehow I have never had the urge to join it, maybe I, too, smell something funny there.
I think you are right. Not only about the flimflammery.. But also the Tom Foolery, the skull duggery, and the poppycock!
Smells like snake oil.
Perhaps even chicanery as well, it remains to be seen.
@alexbeyman so the whole bitconnect thing will fail in the midterm? Upvoted. @gold84
No idea, just that legit enterprises don't usually put on shitshows like this. Stuff like this is to hype people up to make poor investment decisions
@alexbeyman I definitely agree with you. @gold84
Honestly I don't know much about Bitconnect but that event sure seems bizarre.
I agree. It was so strange to watch especially the dancing at the end on stage. Now, I'm going to stay far from it because of that ceremony.
Haven't heard of bitconnect before, but that video is pure marketing wank. The BS-meter is going off full red alert.
They better watch it, though, Disney/Lucasfilm might not like the Star Wars theme being used for a commercial venture like this.
Also, their presenters spoke in Thai briefly, so I have some suspicions on who this presentation is truly meant for and what type of people may be behind this venture.
Bitcoin itself is, however, going incredibly strong. Trading at $6087/ea as of today. Kicking myself in the butt every day for not buying way more back in 2010. Business school training can paradoxically prevent you from sometimes seeing the possibility of these kinds of opportunities.
I missed the boat on Bitcoin, swore I wouldn't miss out on the next big coin, then missed the boat on Ethereum as well. I have nobody to blame now but myself.
Not the only one who missed the boat. I first heard about Bitcoin when it was like $2. I sort of wrote it off and didn't really hear much about it till it was like $100. I bought a bit but should have loaded up. I then proceeded to get scammed out of about half my BTC. So yeah lots of woulda, coulda shoulda but it is all a learning experience. At least I didn't lose money.
After getting scammed I sort of stopped paying attention to crypto for awhile and missed Ethereum. So I swore to pay attention to crypto and at least be involved in some way going forward. That's how I ended up on Steemit.
Everything is fair in bitconnect and I like bitconnect very much and their system and reports, principles are the best, nothing to worry.
i think bitconnect not scam .firstcoin and regalcoin fishy coin market cap bellow 900
I don't get to see the scam but what has worried me for the entire inauguration video and had me covering my eyes/ears and holding my head down is the "Borat" type of organization...I mean...the introduction of the card on that big screen with the countdown ...probably taken out for free from some site or app ... I mean not only it gave me a sense of cheap but also a sense of ...WTF!
and Trevon not saying a word about it ...just throwing it at us like hot potato...lol
Only time will reveal...
My current position on bitconnect is that it will eventually explode... now when will it do so? it could take years... as long as bitcoin is bullish it will keep on keeping on... but is it a ponzi, how does the saying go, if it lucks like a duck and it sounds like a duck...
surly makes no sense at all. Because Ultimately BC will compete with the card company no matter who it is. However this dose not mean BC is a scam. Its a scam built on BC!
Youtubers are making money off of it and continue to shill it to no end.. well will see how it goes lol
How do they make money off it though? If it's by referring more people, that's one of the signs it's an MLM of some sort. That's what concerns me.
In my part of the world, MLM ponzis sell like hotcakes.. so not surprised if plenty are into such a "business"
On Bitconnect you earn money through "lending" out Bitcoin and their magic "tradingbot". Youtube earn from referrals because they earn a percentage on lending of every user that has signed up with their code on the platform - he becomes the classic downline of the referee. Bitconnect might be the most consistent and long-term sustainable Ponzi scheme, since you when you give your bitcoin to Bitconnect you get a 1% daily return, but you would have earned more by just hodling your Bitcoin. That way Bitconnect is able to "payout" profit to people as more and more users sign up. I am very sure that they have a fund-lock system in place that prevents immediate withdrawal which is a characteristic sign of every Ponzi scheme. Note, that the top youtubers profiting from this have invested 10% of their Bitconnect funds - 90% are the funds of their Downlines at work.
Anyway, thanks to bringing this up and helping prevent new users fall for this trap.
My bullshit instincts are rarely wrong. Ethan Vanderbuilt is another good resource for help identifying stuff like this and I'm eager to read his thoughts about it.
Thank you for the tip, I will check him out!
nice
I can see some threatened group putting together such a scam, publicize it and then have it be publicly revealed as a scam that seems associated with Bitcoin, as a way to dissuade people from flocking to Bitcoin and cryptos. Could be one way of essentially poisoning the well of information about crypto in the minds of the general masses-- guilt by association.
This is BitConnect, which isn't the same as Bitcoin IIRC. It's something to do with making small Bitcoin loans though.
It's the 'Bit' part that made me think of guilt by association-- to make anything with 'Bit' in it appear to be a scam.
Oh I see. Guilt by association. I hope it doesn't unfold that way.
wonderful post..thanks for sharing
I deeply think about that, nice post. thanks for sharing.
Ohh ! what
Bitconnect smart card,funny
I also get join links to bitconnect but somehow i get safed myself to join or get scammed
by the way thanks for the informative post so user get awareness
,as you usual do.
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STOPYeah that video of the Shitconnect event was unreal. I was just shaking my head and laughing and was like WTF. Insane. I also put up a post yesterday about Shitconnect and how it is pretty much a runaway train that can't be stopped.
saying that bitconnect is a scam because it has an affiliate program is just stupid... If you do affiliate marketing you get paid, you can do it for amazon, with cpa networks.
In my opinion, the fake card is a red flag, for sure XD.
It would be saffer for all to just use a trading bot. Pple just need to put themselfs in a small learning curve and for sure you can loose money if you don't know what you'r doing.But that works for all the buisiness/investments.
Nice post .
Awesome! here's a way to make money but very few people know about it http://bit.ly/2ylZWDe And Electronium is going to be big.
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