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5 stars based on 67 reviews

Hello dear followers, in this video I share my thoughts about BitConnect. It is not a positive review. The large whales promoting bitconnect arent investing money into bitconnect, they make most of their income through referrals and then immediately withdraw.

I'd rather invest in steemit and its future. I invest in both. I enjoy them both. Just to give you a heads up, It's impossible to "immediately withdraw". Who ever puts money into it is locked in for no less than days at best and typically days. Could be a scam though, who knows. If you were only talking referral income than yes you are correct.

Referral money can be taken out and turned into bitcoin. I follow a lot of these big dogs and none of them have zero invested though so they could only take out that referral money but all the other money they have tied into it bitconnecta theory on the trading botsteemit be taken out for awhile. Most of these guys have 20kk locked up in the site so they can't run anywhere anytime soon. I am one of the people doing videos of my journey. I have money in Steem too and I plan to use some of my BCC profits to buy more steem for the long haul.

I hope to have an account as big as yours one day. I'll get there for sure: How are you sure these "big dogs" aren't getting kickbacks from Bitconnect on the side to keep large bitconnecta theory on the trading botsteemit locked in and keep the illusion alive?

Companies like this are not below paying off people in social media to promote their scam. Sure they may have k locked in and show it off in their wallet Even better - maybe it's possible that the devs of bitconnect gave him a special account that just shows off large sums so he can use it to impress people and get referral money. If you don't think it's possible for someone to be working directly with Bitconnect I don't know what to tell you.

BCC might be paying out well now and a lot of people will make money. People that get in and out within a year. It won't last though. Message me in 3 years. If Bitconnect still exists and is still paying out. Lol no need to eat catfood man, I'm not sure of anything accept I'm receiving my money everyday.

Thats the only thing I'm sure of. Will it last, who the hell knows. I'm not sure if any of this will last. As far as Bitconnect creating these special accounts and paying bitconnecta theory on the trading botsteemit off to show fake amounts of money in order to bring the masses in, sure anythings possible. What I won't say is it will or won't last because I can't see the future.

People said bitcoin won't last too. Most people "re-invest" the interest they make back into the loan. Bitconnect thrives on this. If you put in a loan and are banking the interest, congratulations on getting in on the ground floor of the ponzi. Those who get in AND leave early will come out with money. Those who stay in will lose everything. I don't need to know the future to understand that the sun will rise tomorrow, and at night the moon will come out. You do not need to see the future to understand what's going to happen next with Bitconnect.

Poloniex has always treated me fair and also Cryptopia! Bitconnecta theory on the trading botsteemit being a sally and listening to hearsay about a company.

I've never had an issue with Polo. I love their graphs, so informative. Excellent post, I really enjoyed hearing your views on this topic. I think even mathematically bitconnecta theory on the trading botsteemit doesn't make too much sense.

The average rate of return daily is around 0. If you actually computed the compounding based on a monthly basis, your return would be around 2, Really good review brother. Can I prove it? These programs always work fine until the day they don't. When will that be? I have no idea, but your projection seems reasonable.

I imagine quite a few people will continue to pour money into this thing. Some people never learn there's no such thing as easy money. There are definitely some ponzi type schemes in the world of crypto.

I have an aquaintance that got sucked into a mining ponzi scheme. All of the ponzi scheme markers were present, like paying large amounts just to be a part and then they try to get you to recruit other investors. To ponzi or not to ponzi? Its money I can afford to lose. It is a gamble, no different from when you go to a Casino and lose on the black jack table in like 30 seconds.

So I will keep reinvesting and compounding the interest as long as I can and if I get to a certain number I pull my initial investment out in daily profits. If Bitconnect dies a quick death and I lose it all or dies a slow death and i make some money first, sure i'll be disappointed but will have a clear conscience and will move on unaffected. Everything including crypto currency benefits those who get in early and those who come late to the party usually get screwed.

That is the chance you take when you invest in anything. By all means don't use Bitconnect as your main investment it should be a miniscule part of a way bigger picture. James, I think that is the core issue of their success. There is a lot of loose money in crypto and a lot of people are fine gambling that excess which is millions on something like bitconnect. I would just say it is getting too big. Do we really want to see the pet-ponzi of the crypto world start trading into the top What if it gets picked up by people outside of crypto world and crypto newbies start dumping their life savings into it?

As we continue to feed this beast it grows, bitconnecta theory on the trading botsteemit I really think at this point we do not want to see it grow any bigger. If it shows sustainable growth, what's the problem? If everyone involved is profiting, and it seems like it is sustainable, sounds like a functioning economy to me.

I'm not saying it's NOT bitconnecta theory on the trading botsteemit ponzi scheme, per se. I'm just saying maybe we need to re-evaluate if bitconnecta theory on the trading botsteemit schemes are actually bad in the context of a digital global economy.

If you do the math, Bitconnect's participants will be some of the richest people on Earth in 5 years. As one comment put it, if you invest 10k and compound monthly, in several years you will own more than the US Stock market.

I did my own math. This thing is going to blow and take a lot of people's money. If someone actually had the giant iron balls to compound invest 10K in Bitconnect for 7 years, remember Bitconnect is taking a nice healthy profit from from each reinvestment along the way. Each 10K investment is locked up for days. So don't think the investor can say "hmm I think I will withdraw my 45 trillion now" and pull it out and take it all down. It would be calculated increments of withdrawals during which time Bitconnect is making profits and keeping the ball rolling.

Again I'm not saying your are wrong just not completely informed on the matter and I'm playing devil's advocate here because everyone is blindly shitting on Bitconnect without knowing the facts. I can't see behind the curtain either but it is working now so I say lets keep it working for as long as possible and all make money. I'm on Day 3 of my Bitconnect experiment: These are part of LTBH funds we could afford to lose completely, as is all bitconnecta theory on the trading botsteemit our crypto.

It would suck to lose all this crypto, but it wouldn't be the end oft he world. That was a great idea, take advantage of the referral system with friends and family. I'm going to wait until i'm at dollars a day in interest to start pulling money out just my initial investment. If I don't it would be disappointing, but as everyone should I have many other investments in crypto, and savings so not going to swan dive off a bridge or anything. Cheers good luck I hope it works out!

James I totally agree with your point of view, people are constantly talking shit on bitconnect with no proof. If someone is dumb enough to put their life saving into ANY 1 gamble they deserve everything they get. It's not our job to nerf the world from idiots. We can only try and guide them in the right direction. Just like dummies that took our their K's and bought Eth at dollars last June and bitconnecta theory on the trading botsteemit sold at like when the bitconnecta theory on the trading botsteemit shit the bed for a month.

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From my last video, I was especially surprised at the number of people on YouTube and Steemit who are still on the fence with bitconnect. Some people, who are heavily invested are defending it. I think it is hard to have a clear head about it unless we have something concrete to look at besides subjective evidences. To this point, I will do math and analysis of the BitConnect system. This is 69 days, with an average percentage paid of 1.

This is data, pulled from the system, without using reinvesting or referrals. A lot of critics of BitConnect, I will say you have not done your research and are ignorant. BitConnect's popularity is that this ponzi permits you to withdraw that money. When you go on and on about how only people who do referrals are making money with the system, while this is partially true, I have no doubt that there are pure lenders with no referrals who are sitting in the green, especially if they started in early May.

Arguing from ignorance does not help convince people. So then, what is wrong with BitConnect? Let's do the math on the data above.

A lot of people say BitConnect pays 0. The hard data above taken from their system proves otherwise. However, that loan was above 1k, which adds another 0. Many loans in the system are paying an additional 0.

Due to this, for the sake of this analysis I will just use a flat 1. Let's get to the numbers then:. There are 1, billionaires in the world , but lookout world, the infinite money machine BitConnect was invented!!! Here come thousands of people into your ranks! BitConnect then will be the system to create the world's first trillionaires in just 6 year's time Now there are days where you would not be able to compound due to the low payout on some days. Therefore, I will compound interest every 2 days for this analysis.

I anticipate a bought of hyperinflation due to the BitConnect wealth creating system! This part of the post is conjecture, but it is good conjecture because often the best solution to a problem is the easiest answer. If we want to know how BitConnect has kept this amazing ponzi operational, and how it may continue to operate going forward, this is my proposal on how the system operates. This picture shows the basic mechanic of the ponzi: The dirty little secret of BitConnect's system is that they likely never exchange your BCC tokens for dollars.

They just keep hanging onto the BCC token. This would create 2 expensive transactions for them. Furthermore, it is in their advantage never to do this exchange back into Bitcoin or fiat. If you buy 10 BCC tokens, give them to the lending bot ponzi, and the lending bot ponzi sells those 10 BCC tokens for Bitcoin, the net market affect is very minimal to the upside, but basically neutral. In math terms, we might say: This is the key to their ponzi. If only some of those tokens are sold by the lending bot, this creates a net drain of BCC tokens on the market.

People who understand economics, and the supply and demand curve, we know that if you reduce supply of something, this generally favors increasing prices. This is especially the case if the underlying asset has true demand. Demand for BCC tokens for their lending system, combined with ever decreasing supply, favors an increase in price for BCC tokens. Unlike many other cryptos that operate on boom and bust cycles, BCC has not operated in this manner.

Now I will use my original loan example, but rather than describing it in terms of USD which the BitConnect system never uses, I will describe what occurred in terms of BCC tokens which describes the reality of the situation actually happening. Now certainly, the earnings could have been withdrawn sooner, but had they been left in the lending wallet, this would be the actual situation as of today.

This means, by limiting BCC coin supply while driving more and more people to the system, this creates a drastic net-demand with ever reducing supply of BCC tokens, forcing the price of the token higher.

What this mechanism does, is that it delays the inevitable, and keeps the ponzi going far longer than it otherwise could operate if they truly held USD fiat in the lending wallet. As long as the net token supply is reduced, the BitConnect operators are content to drain some of those funds to pay affiliates and pay themselves.

Meaning, for every token invested, a certain percentage of those tokens are never resold but sit accumulating in the BitConnect system, continually reducing the supply. This gives the operators much power in terms of decision making, and legitimate traditional models of trading and manipulation of markets.

For example, it may be they have procedures on how to assist the market in going higher. If they move their bar higher, eventually people will have to pay those higher prices to get their BCC tokens into the lending system.

It could also be that they are willing to use outside pools of bitcoin to prop up prices at key moments in trading, it probably is not needed, but it is certainly doable. As an ingenious as this ponzi system is, for making it look like we are getting rich when in fact it is all due to the limiting supply of a token, there comes a breaking point in this model. There comes a juncture where compounding interest overwhelms price appreciation of the BCC token.

We need to add the initial investment to this as well. To invest 10k today, we would deposit BCC tokens. However, it would need to do better than that simply because of referrals and other payouts BitConnect internally takes. This would be needed to repay holders if everyone invested according to this behavior.

That said, if investments are compounded as many people have started doing, the situation for BCC becomes dire. Such withdrawals would be spread out over the course of another days. Therefore in the 1 year plus the days of divestment, the price of the BitConnect token would need to be: Within 7 years time then, the market capitalization of BitConnect needs to reach trillion for there to be any hope of recouping funds invested.

From this sort of analysis, we can create a financial model, to model the prices BitConnect aught to reach to have any hope of maintaining eco-system sustainability. It needs to continue this level of expansion going forward and overtake all other cryptocurrencies to be a long-term sustainable ponzi.

The growth continues on into absolute absurdity where BCC token surpasses the US housing market in 4 years. All investments entail risk.

All investments have thresholds of capital limitations. The point here is, maybe an amazing bot could produce a solid daily return. Then as it gets more and more millions fed into it, that bot will produce a lower and lower return. Then people would sell against its order, and the bot would be sitting on losses. When you invest a small amount, big things are possible, as you invest millions, your possibilities of what you can do dwindle greatly.

Orders take longer to fill, you do not get to be as nimble with your money as day-traders are. You become the wale, instead of trading off the waves the whales make. If BitConnect's bot was real, it would have started producing diminished returns due to this phenomena in trading. Rather, if anything, returns have increased, combine this factor with zero risk which a real bot does not have and we see the problem. It violates economic laws. This has occurred so their model has been sustainable.

Money invested will not be available to divest, since the BCC tokens divested will be insufficient to pay the balances of the compounded interest in the lending wallets. BCC existing does not bother me too much. The people lying about hard facts is what bothers me. There is nothing to be deceived about, math is math. US foreign ambassador for teamaustralia. Supporting teamaustralia with my upvote!

One of the best articles regarding bitconnect. The problem is people lose their judgment when it comes to earning money. Greed is very powerful. Soon a lot of people with 6 digit accounts will realize how fast money can dissapear. They are paying old people who invested in k plan before by the people who are investing now. Else they print more money to pay them.

I use bitconnect and I know it is a ponzi scheme. It was clear when I started;by now I almost got my investment back, havent compounded at all. From next week I wont even care if they go bust or not and that will be the moment I will start compounding. Anyway, if theyre going to achieve their roadmap objectives this month it will give them another boost; it is unsustainable though. Although I use it, I do not promote it at all, I dont feel comfortable with that, it's one thing to gamble my money, different thing alltogether to tell a friend to put their money in; so I am at 0 refferals.

Thanks for the math. Too bad I havent held on to the bcc I initially purchased, that would have worked out way better for me. Yeah I just realised it's way profitable to transfer all your earnings to bcc, and price is soaring now. I'm also going to stop in investing anything once my profit reaches the original investment. But I still have a month to go I'm almost there with getting my investment back; for about a week now I stopped taking the interest out as BTC and just kept it in BCC and with the soaring price that made quite a bit of difference.

I have to be honest, the site being unavailable most of the day today made me feel a bit uneasy: And no one even mention it on twitter or blog.