Bitcoin Forum

Some people say BitConnect is a scam some say it is legitimate, what do you think? I've read many articles about it and I still not understand how it actually works.

Hello im using bitconnect for 6 monts now and everyone is trying to scare with scam this and scam that.
Some dumbass journalist said that uk was going to ban Bitconnect and showd a old company house registration.
https://beta.companieshouse.gov.uk/company/10948031  Here is a link for there new one to proof everyone wrong.
And call it a scam, so far i made 10.000 and received my money back plus extra.
In crypto nothing is guaranteed right? Everyone was also laughing about bitcoin, i the beginning as well same scam shit.
But in the end it turned out the other way, and i will continue on bit connect.

yeah nothing can guarantee our safety and why would we need to spend our money to that crap ?
what i mean is nobody can guarantee our money,right ?
even vitalik said it does not make any sense about daily return.
which mean it's completely a shady project with 0 future.
it's fine you said you got your money for the past 6 months,but in cryptoland 6 months is very short dude.
do you remember MMM ? it's much more like that other than a serious project.

bitconnect will absolutely fail because it's model is mathematikally unsustainable.

for now everyone is happyin this ponzi sheme and don't expect authorities moving against them

Ponzi schemes do usually well until they have sucked in all the people who are available to be sucked in. The few first to enter get rich, the last many pay for all.

It's a ponzi scheme, it can only survive for as long as they generate more income from people lending than they have to repay. It will eventually be exposed and all of that money will disappear.

I saw a video on Youtube where one guy says he made 500k on BitConnect. I may believe, but anyway it is obviously a ponzi scheme so it would crash one day and crash with a great pain for those who won't be in time to exit.

There is absolutely no chance for BitConnect not to fail.

Just do the Math.

If the interest that they promise was real, there would be more money in BitConnect than in the entire rest of the world in a very short time.

I think there's no obstacle for the bitconnect to fall because the investors for bitcoin all over the world do not judge bitcoinnect because it's just taking investment sites in the field of investing for bitcoin, and the bitconnect now above all crypto currency and even higher I will also increase the investors in bitcoinnect. If I have a scam for the bitconnect, then no one will invest in it, But for now investors are more likely to be bitcoinnect.

bitconnect is ponzi, I have 2 years experience playing with such a project, ponzi usually only utilize new investor to pay the old investor, so bitconnect will be scam if there is no new investor :P

Why would they do the math, if this would kill their dream of becoming infinitely rich by doing nothing? Eventually, people sometimes get killed by dreams.

lol, really sad this day people invest at some scam ponzi project and believe that a real project, and in the other hand sometimes people not event bat an eye to real project cause dont have "daily" profit

Currently BCC is still very good, people are still investing, If development in the right direction, it will be very good. There is currently no Scam information. But virtual money investments can not be sure. When you buy and sell when it is appropriate new important!

Of course there's a chance, in fact it's just about time in my opinion. Your initial deposit is freezed for about 299 days if im not wrong and it's been 1 year since bit-connect started so we should be seeing some people starting to withdraw their deposit and if there's not enough new investors to cover the balance then it will be very bad.

You don't know what you're talking about. And BCC is completely independent of any sort of "development". It's one of the most obvious ponzis I've ever seen.

dont compare it to bitcoin plz lol
bitcoin has a real market value, bitconnect can dissapear and nothing happens to the crypto world

Legit for those people who are on the top and Scam for those people who are on the bottom or just newly jumped in on the Ponzi scheme. Try to look at see on their system its not really sustainable specially for longer runs which means sooner or later it will fall out and that is already an anticipated thing to happen on this coin but for now it is still flying since its just being hyped up but later on when the waves are settle down for sure they would disappear just like a bubble. Too good to be true returns always end up on being a scam later on.

Bitconnect is a nicely packaged Ponzi scheme I think. However it is only a matter of time, once it goes bust and the people in charge will have problems

bitconnect are one cryptocurreny using as ponzi game, and how it works? yea they have an idea using a tag as "Lending / Staking of money" This is totally shame like a hyip mode. but bitconnect would not fail, but have a risk high to make price of bitconnect fail or down.

I myself also do not understand with bitconnect, see their progress and goals, it seems this bitconect has no potential. and I think it's up to investors now, whether they are willing to contribute to bitconnect again or not.

i thnik bitconnect is yet too far from falling yet i think this alt has proven to be a strong so if you are investing i advice you to trade with it but if you still yet want to buy and you are looking to buy it so don't wait for it to fall too much.

It's more of a question about whether or not they want to play a ponzi game. BitConnect has nothing to do with investing.

Oh yeah? Bitconnect can not sustain? Are you kidding me? When will everybody stop spreading this FUD about this coin. In case you didn't know, bitconnect is into lending and stalking and it celebrated its one year in office last month. It is not easy for that to happen. Even when that glitch happened on its site, bitconnect still held it down and came back strong. Look at electroneum and how they are still struggling battling a minor glitch. Whether anyone likes it in not bitconnect will continue to forge ahead.

I would be extremely careful with such projects as BitConnect. While there will be an influx of new funds, it will work when the inflow of new funds will be less than the requests for withdrawal, it will come to an end.

Don't fall for it. Ask you the right question. Why they are given you 1% interest per day, so 365% per year ? If they can make money as quick, why they need yours ? They can snowball with a bank debt. It's a scam, and it will fail a day. No ponzi last forever, since century this system exist, none of them live since.

Yes, it can not sustain, period.

Do the Math. It won't take 10 years before BitConnect will have more liabilities than there is money in the entire world with its promised interest rate and it will come down crashing well before that.

At 40% "risk free interest per month" (lol) BitConnect would grow from its current 635m to 36b in just 12 months, to 2t only 12 months later and to 115t another 12 months later.

4 years from now BCC would be at 6,6q and thus surpass the global derivative market 6 times over, which is already orders of magnitudes larger than the global money supply M2.

If you think this is sustainable you have just proven that you have absolutely no fucking idea how finance works.

If this thread is serious, then let me tell you that all of these newbies that are saying that bitconnect is worth it, let me tell you that they all are lying, maybe they all are alt accounts because they dont want to risk their reputation just by saying that kind of crap.

How the hell do you think that a normal company who is worth more than billions of dollars is going to be able to pay out 1,4% a day of interest to all their investors? (Plus, compound)

It is impossible, and there is no way to see it happening, banks are usually giving around 3% a month (and that is about 2 days of interest with bitconnect)

It is going to fall soon, it is just matter of time until we are able to see that happening.

in my opinion, bitconnect had a great Ponzi scheme concept that will sustain in a long time prob 2 years from now, well I say it Ponzi scheme because from the bitconnect created until now, no one can able to prove the bitconnect volatility trading bot.

Seems if you would have bought and got in, in the beginning, you would be a whole lot richer now. I remember seeing it and letting it slide.

Banks don't even give 2% per year. If banks gave 2% per month the stock market wouldn't exist.

Bitconnect is a hyip type scheme that has gotten big due to the cryptocureency growth over the last few months. It will crash and it's creators will ultimately run away with user funds. It's hot it always goes with such schemes. I challenge you to prove me wrong.

I don't know how you can even say this. There is plenty of evidence that should alert you to stay away from bitconnect. Right now some of it's major promoters are cashing out (Trevon James, Sunny decree, cryptoNick, are just a few examples). Why are they doing this, have they stop believing in the project? I think the main reason for them to do this, is of course that they know this is just a ponzi scam, and since other users are realizing this as well, it's time to leave the boat before it sinks. This is just one of the reasons to stay away from this project right now, but even if you just look at what they are offering in their lending option, you should never get into it as well. What they offer is just impractical, and it's the same scheme as any Hyip out there.

The later you join the pyramid - the more likely that you pay interest to those who have already joined. The last joined usually lose.
Just keep that in your mind. You can make money if you will be fast enough.

but maybe that's true because I also participated in joining the bounty airdrop project but until now I still have not received the token. whereas I've fulfilled the load in that respect.

isn't it how all HYIP Ponzi scheme types of sites works, everyone who join earlier will get rich, but who late to join it will only have loss of money.

It's definitely not legit. Anyone trying to convince you that Bitconnect is legit is trying to earn from you a portion of your investment because there are lucrative rewards involved with introducing new investors into this ponzi scheme.

And that's exactly what it is - a ponzi scheme.

If you don't understand how it actually works, it's probably fair to say that it is going to scam you. There is no way that the profits are going to keep rolling in.

As long and new money keeps pumping into crypto bitconnect will continue to run.
Only a very thin line separates bitconnect and most alts.

BitConnect is probably one of these rare cryptocurrencies that almost never showed its decrease. It is very strange for me, and although I do hope it is not a ponzi project, its growth lets me thinking it looks like a fraud.

According to CoinMarketcCap, bitconnect lost 70% of its market cap on November 3rd.
https://coinmarketcap.com/currencies/bitconnect/#charts

One point that occurs to me is that as long as BitConnect keeps all of the BTC invested as its "reserve" then the ponzi is sustainable for as long as bitcoin keeps increasing in value as it has.Notice that the value per BTC has essentially topped out and rolled over.

when someone giving you a percentage return everyday,
you can tell them to fuck off,because most of them are scammer.
do you think they're a genie? so they can give us an exact number how much that we will get everyday?
i even encountered something like this and can be said as one of the victim.
so do not bother with it and try to find something else,because you can see a lot of project other than this one.
better safe than sorry my friend

Bitconnect is a high-yield investment program (HYIP). Everyone knew all of that since day one in MMO, only delusion idiot believe in safe and have reward or they could simply a shills. Good luck to Bitconnect holder and hope you get out of it with some gain, no hard feeling.

Its a well crafted ponzi,usually doing good in the start and will end in bloodbath after they sucked all your money the last members who joined will suffer badly.

I got in, took my into into BCC and it tripled. then the next few times i got to 10 bucks, i reinvested. now I go directly to BCC to BTC and to Bittrex.

simple, it's an old game, old player will be paid by the new one, simple as that "Ponzi Scheme". Nothing to do about research or calculation, as you know even cloud mining nowday is playing some ponzi too, it's hard too believe that you can got paid with daily percentage or something like that  ;D believe me trading always be better choice

Exactly. One of the cases is the lack of interest of "inverstors" for Bancor, which just because of its nature cannot be used for pump&dumps. And it is a long term project.

Bitconnect is a wonderfull project driven by professionals. So don't wait to jump in.
You will make a good life "with headache" when you enter a professional driven ponzi scheme.

lol  that sums it up.Professionals doing ICO's is the new way of selling shit and calling it a doughnut.At the end of the day,you will be crying over your lost money in the professional coin while a 14 year old Russian will be celebrating it in Miami calling the ICO as a huge success.

There's nothing well crafted about BitConnect. People in crypto are just greedy and completely moronic, which just shows that crypto is still in its infancy.

It's been a while since I've seen so much dumb money focused in one area.

What is the reference that we use to claim the coin legit or scam?
But i think bitconnect is really use blockchain system since it hit exchange.
Is it not enough to say it legit?

I saw a youtube video about bitconnect the other day. And it's something like a bitconnect conference in Thailand now I am pretty sure it is a ponzi like One coin

"Is there any chance for BitConnect to fail?"
I hope that question was just joke? BitConnect just a SCAM, ponzi scheme. Everyone who is at least a bit smarter than a pig knows this  :-\

You are right nothing guarantee in cryptocurrency including bitcoin and bitconmect as well.
As far as we can make profit the just follow it and if the coin can survive then the coin is legit.
Nobody  care if they are legit or scam but most important we can make profit if we join.

The question of the thread creator made me laugh honestly, bitonnect thing is 100% a scam with a certain ponzi scheme. Please stop asking like if it could fail, it's already failed with ponzi system.

bitconnect could fail just like any other businesses could fail.

Op seems just never try to use its internet to visit the reliable site just like the crypto news site. A lot of the media have posted the news about the UK suspect the bitconnect as the biggest ponzi and it needs to be shutdown by UK officials.

Not just bitconnect, now we have many case of crypto coin have daily profit to lure in greedy looking for easy money. Pure scam and ponzi scheme. What a mad world.

See EthConnect or Tokugawa 1000% ROI MasterNode for further examples of ponzi coins...

This kind of garbage is why prominent figures call cryptos and ICOs a fraud on MSM.

There is a huge chance that BitConnect will fail one day as it is a scam. The only question is when? Could be tomorrow or in a couple of years. I wouldn't risk it and put my money in it.

Bitconnect is 100% Scam. These lowlife, filthy maggots need to be hung. ALL their claims are lies. I bet you that soon they will close down and take off with all the people's BTC.

Quoted for truth, it is sure to fail at one point, make sure you get out in time.

Then they'd be liable in court. They'll just "get hacked" at some point.

If they can reveal the whole process on where the money goes, I would believe that they are legitimate. I know people who also say that they earned much from bitconnect but I cannot guarantee that it would not fail, their promises are unrealistic, if you do all the math you will realize.

Good point.....NiceHacked I assume. Gee I wonder why they just went to POS??? Much easier to hide your nefarious bullshit under POS (SCAM). POS = Way to use other people's money to fund your SCAM.

It is a Ponzi scheme, so one day it is destined to fail because the laws of mathematics say so. Meanwhile, of course, someone may do a lot of money of course.

Most probably bitconnect is going to fail. There are too many rumors about them and they are not  transparent to community and not commenting on rumors.
This is a well driven ponzi scheme and its going to fail for me.

Oh i see! Its not bad. Many expect from this so its fail Sometimes i see this situation that Bucket hand in more hope. It can be sad.