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Title: Okay, guys, it's time to stop ignoring this member's posts !!! Post by: Gleb Gamow on August 28, 2017, 04:10:03 PM As I demonstrated, the freaky thing is they don't even need any of this staking interest or buffer of millions of coins. Their lending is generally profitable in itself as long as the total BCC the customer gets back from the imaginary dollars capital and interest, is less than the amount of BCC the customer paid in for and this IS ALWAYS TRUE if the coin goes up at a greater rate than the interest they provide (which they can easily predict and adjust rates to compensate). Bitconnect are not giving people free BCC with the lending system done properly, they are accumulating more and more (I think they should take these BCC profits into USD or BTC at least to act as a buffer for when things go wrong for the coin). If they do keep the profit in BCC it also reduces the supply for everyone else with the obvious consequences of that. I don't see any downside of their system and they have ridiculous reserves. The thing about Bitconnect vs things like Ambis is with Ambis, Bitcoin goes in, more Bitcoins come out...with nothing in-between as a buffer other than a supposed "trading bot". But Bitconnect owns 4.8m of its own coins out of 7m or so that exist that stake another 384.000 coins into existence every period, that is not including the coins that are in the system, locked down for 299 days at a time, these are also staking out for that 299 days turning into more coins for them. So basically they are at this time of me typing this staking coins into existence coins that are worth 122$ without the required need to supply power and computer rigs to dig them out of the network. In current numbers they would have 585.600.000$ in coins and 46.848.000$ get staked into their own BCC wallet every period of staking, without any expenses that they need to pay to farm them. Now the way people get in is that they use Bitcoins to buy up those BCC from people exciting Bitconnect, let's say i had a good day, i pull 100$ out of Bitconnects butt and a new guy buys my BCC and enters the platform. More and more coins enter the platform, get locked up into it, for us they turn into a % gain each day, for bitconnect they turn into additional stake coins, making them the biggest claimers of staked coins out there. Supply and Demand take care of the rest, as more coins get locked up, price of the coin goes up and at the end of the day they pay us back an imaginary $ value in their system, that then gets transfered to a BCC that has such a value and then we cash out by someone entering the system again through a bitcoin or if they need to have funds sell their own coins onto the market. Sites like Ambis have like what to work with, if they are a ponzi scheme? their own start capital to pay the first few days ?, or just the money coming in, until money starts rolling in vs Bitconnects 585.000.000$ of assets. Now i am not a math wizard, but if i were to do a ponzi (and i am not) and i am sitting on 585.600.000$ worth of coins, I would have been out of this game 500.000.000m ago, maybe this a long con and they need to sell the coins discreetly as not to crash the market but that would hinder their staking at some point, forcing their hand to excit devalue the coin while doing it. I also doubt that the BCC they get each day from staking are all used up in paying out people, the volume in the last 24h is only 4.1m$ and 90% was on their own exchange, that you know they control, so in need to stay liquid they had to sell 410.000$ out of 1.500.000$ coins that they staked that day from their 4.8m coins, so not counting coins from people in their system. More than likely that amount is double and most of it is reinvested so they get more stakes for it. Oh and around a 1-2m $ in profits each day. I honestly don't know if they have a bot, but at this point it's not really needed because the eco system keeps itself in check, coins are locked and a 10% circuit breaker prevents panic sales and they take a cut from the exchanges on their own platform. Its Genius really, the only way this ends if it's a scam when they don't have a trading bot is when the Staking time is over, which is going to be until Dec 2019 or when people lose faith in it. But if say by then the coin is worth as much as a bitcoin and they still control 90% of the coins, their last month December 2019 they stake the last few coins that are on their platform, then the coins for that stake would be worth 1.411.200.000$. (I know speculation but the BCC did go from 8$ to 130$ in 3 months) So however you turn it, Bitconnect pretty much prints money until Dec 2019. I love how everyone pretty much ignored my post, finally made an account to actually do a post and it gets Ignored :p I hear you, even if they were just living of their 0.25% trading fee, seeing 90% of 4.1m dollars is being traded on their own platform every 24 hours, if i worked on/at Bitconnect i would be very happy with those daily wages that it provides at the point they are at, if they can expand on all this in the future with their own debit card charging transaction fees, they should be able to make a living of it without touching the platform on itself. |