Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Topic started by: coinhunter on October 21, 2017, 11:21:01 PM
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I hear a lot about bitconnect, some people call it scam, what is it exactly?
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Me too read something like this
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maybe yes and maybe no.. just wait soon.. ;D ;D ;D
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BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom loving individuals who, like you, are seeking the possibility of income stability in a very unstable world. ( Definition from their official site)
Now why do I think they are a scam :
Too good to be true
fake volume, they made coinmarketcap to add their own exchange and thats where vol was
fake promises (ponzi style) of crazy % getting back
ref program paying extra % on top of this
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I don't know but alot of people say its a ponzi scheme. I can't say as I havent looked into it.
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BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom loving individuals who, like you, are seeking the possibility of income stability in a very unstable world. ( Definition from their official site)
Now why do I think they are a scam :
Too good to be true
fake volume, they made coinmarketcap to add their own exchange and thats where vol was
fake promises (ponzi style) of crazy % getting back
ref program paying extra % on top of this
Intresting way to hype a coin
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i have no idea what bitconnect is ... but i think it has a potential to grow
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I hear a lot about bitconnect, some people call it scam, what is it exactly?
We can discourse but Bitconnect definitely grows up and now is more then 200 USD
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Bitconnect has interesting platform. Very interesting but you have to be careful too if you were planning to invest.
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Too good for me...could be a scam
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Bitconnect has interesting platform. Very interesting but you have to be careful too if you were planning to invest.
All newcomers should be careful when investing. And when investing in altcoins, beginners should be doubly cautious. It seems to me that this coin can die soon
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Seems alot of these type of "lending" "staking" platforms. I have observed some of the ways they can "potential" make money, so it is possible albeit maybe unsustainable longer term. They play with the volatility of the market and as you know, crypto and bitcoin in particular is extremely volatile. They make money from "bot" trading, they make money from "branding" they "mine" they hold their own coins and it can go up in value via trading volume, they have an internal exchange so they make money from exchange fees. Some of the issues is lack of volatility for consecutive days, makes for lower payouts. As long as you got some "disposable" money and count it as a "loss" you could make some money from these programs. So if you make it back great, if not, it was counted as disposable and a loss anyway. That way you are never too concerned.
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BCC dead soon. Becarefull. Scam project :-*
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Its best to be cautious here. This world nobody makes money too easily.
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1% a day is impossible so obviously ponzi scheme and scam.
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One word "CONTROVERSIAL", its really controversial crypto in 2017, most people saying it as scam and mostly invest on it (including me). But honestly their system really not sustainable, I have doing sample mathematic calculation on excel with all referal interest system, it can collapse anytime. I invest on it since I'm risk taker and only put 5% of my money on BCC, I think as long as BTC prices not going back to $5000/btc that system should be fine. But if 1BTC back to $5000 I think all market will be bearish not only BCC.
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You have to note that close to 100% of BitConnect trading takes place on the BitConnect exchange:
https://coinmarketcap.com/currencies/bitconnect/#markets
Honestly I think even listing it is debatable because of that.
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Some more info here too: http://www.globalcryptopress.com/2017/11/breaking-bitconnect-ponzi-scheme.html
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i dont know so much about that. but as far as i know u can invest min 100$ in bitconnect. i also saw in coinmarketcap bitconnect is a listed coin.
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There are a lot of youtube videos by famous miners/traders/investorsexplaining all the pros and cons about bitconnect. you can watch them to know more about bitconnect.
Bellow i quoted from their website of what bitconnect is all about ;)
Bitconnect is an open source, peer-to-peer, community driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment. This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network.
This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network". a lending platform interest on investment thats their main idea
but they are operating in 4 Business Model
1. Lending:
Bitconnect also offers the option to invest BCC via a special lending platform and this involves using the Bitconnect trading bot and volatility software. Lenders are promised to receive daily profit based on their investment option with the following options available.
2. Staking:
Bitconnect allows users who have purchased BBC to accrue interest and promises returns of up to 120% per year through PoS minting. Users who hold coins in a Bitconnect-QT wallet will receive interest on their balance.
3. Trading:
BCC holders can also trade the coin and try to profit by selling them at a higher price and buying them back at a lower price. Investors are prompted to use Bitcoin to purchase BCC from the BCC exchange.
4. Mining:
BCC can be mined with CPU/GPU equipment and miners can choose to work via a BCC Solo Mining Proof of Work system or through the BCC Pool Mining system.
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too good to be true
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could be an Scam project!
Think twice before investing!
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bitconnect is down goodbye
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There are no one working on the project, but the coin still in ICO.
They need to remove this one.
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There are no one working on the project, but the coin still in ICO.
They need to remove this one.
Considering their business model is an exit scam they will not remove it. This whole operation was a scam, is a scam and scammed people.
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Nobody, never invest in lendings on blockchain, most of it - scam, based on Ponzi scheme.
Two of my mates lost 10k$ on bitconncet. If you have any bcc coins left - just sell it and forget.
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Last thing I heard , it folded.
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LOL it's dead and buried already...SCAMMM hope u did not lose money there though
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BitConnect is still traded on tradesatoshi so if you still holding some of your BCC coins better sell it now while it still on tradesatoshi this is the last option for BCC then move on!
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its a fraud
dont go for it
he is a international scammer
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I hear a lot about bitconnect, some people call it scam, what is it exactly?
WHY IS THE Cause ??
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I hear a lot about bitconnect, some people call it scam, what is it exactly?
WHY IS THE Cause ??
For those of you who are just now maybe reading about this.. wasn't sure what was going on... or just thought it was too good to be true but didn't understand why it was a scam.. but it was... the primary way that this ponzi scheme worked is common with most ponzi schemes... the system was setup so early adopters would be paid by people who adopted later.. the system could maintain its value as long as bitcoin didn't drop... When bitcoin started to suffer late december/january the system started to implode on itself and in classic ponzi scheme fashion, the creators decided to pull the rug. This system is really harmful to many who invested but all the warning signs are there. Never trust something that guarantees returns.. don't trust things like "trading bot" when there is no github or public proof that a bot even exists.. and in general.. if you see people especially on youtube who are less knowledgeable than you trying to explain and showing off their 6-7 figure gains.. this is reason numero uno not to get in.. Proof of Weak Hands is even worse.. this is pretty much a ponzi scheme in the whitepaper... there is no deception to what it is lol.
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I hear a lot about bitconnect, some people call it scam, what is it exactly?
[/quote
Yes it has been as called ponsi scheme and defind as a complete package of illegal and unsustainable schemes..while others said explain that bitconnect Coin is an open source, peer-to-peer, community driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment. However, it all depend on what you are hoping to do on bitconnect,but i suggest you carry out proper research or review about bitconnect before investing or having anything to do with it.
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BitConnect Coin is a decentralized digital currency, an open-source and peer-to-peer protocol that allows people to invest their possession in a non-government related currency and stores it and even earn from these investments. Hence, BitConnect helps someone by having investment interest while they also help on the system security.
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Bitconnect is not a scam coin because it is registered in the coin market. This coin has been traded globally. Even this coin reportedly managed to occupy the top 10 on one site that was updated by BCC. That's why don't be afraid to invest in this coin.
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@vegasus, that's right. This reason proves that BCC's liquidity is high and this can be seen from the BCC price chart against USD and BTC continues to rise and stabilize. This indicator is positive for security reasons to invest in BCC.
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Bitconnect has been delisted from all exchanges and from the coinmarketcap. Unfortunately it is a scam. The other lending platforms are collapsing too. I regret that I’d heard about bitconnect only in August 2017. If I had heard about it in February 2017, I would have earned much more.
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usually if many people say fraud is true, but I don't know it myself
first we see the future of bitconnect development
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BitConnect is a fraud and its a investment lending platform too many are victim of this scam. They promised shiny object a guaranteed to earn investors up to 40 percent total return per month. Their is no such thing as fixed income in investment . Don't fall this type of project in future.
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I've heard news about bitconnect is a scam. But I think differently about that. I think bitconnect is a potential coin. Especially if the coin has entered the exchange, this can be a guarantee that the coin is a good coin.
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I've heard news about bitconnect is a scam. But I think differently about that. I think bitconnect is a potential coin. Especially if the coin has entered the exchange, this can be a guarantee that the coin is a good coin.