Bitcoin Forum

I got lost in the crypto Youtube world and everyone has these Bitconnect accounts and I watched a couple of videos and it sounds like a Ponzi scheme waiting to happen in a year.  What do you guys think?

Here's what Vitalik Buterin has to say about Bitconnect, when he was tagged to comment about bitconnect and it was funny that he said he is not familiar about it and only heard about it twice according to his twitter post but here's a screen shot of his comment about Bitconnect.

https://i.imgur.com/8xvrtQEm.jpg

When I was invited to join Bitconect through a referral link that right away turned me off because I immediately thought that they are earning from inviting people to buy the coin and pass the strategy to others. Their growth is not organic. I don't think they even have a white paper to begin with.

I've always wondered if there's something hazy about bitconnect. Quite lucky not to have invested. I think I'll stay glued to this thread to weigh my options to know if I'd invest because I got a few people who has got gains from this investment.

I wouldnt call you lucky for not investing in Bitconnect. Ponzi or not I dont know. But if you had invested $100 in it at the beginning of this year, you could have made 200K( enough to buy a house). I wish I was unlucky enough to invest in it then. ;D

I think Bitcoinnect is just a ponzi with great marketing team, almost every day BCC lending ads are on coinmarketcap.com and successful affiliate programs to make their community actively promote BCC lending

I mean, it obviously a pyramid scheme, but if you got in early and exit now, there's nothing to complain about.

It's too late join now, it's gonna burst soon when people start to dumping it.

Yep unfortunately we don't know when it's going to crash. But quite soon I think. Who knows? It only depends on how much investors will keep coming in.  ;)

Has to be soon, it dropped 1.4B in value overnight somehow?! That is going to hurt somebodys pocket soon, although weirdly enough the price has been uneffected. Can anybody explain this to me like I am 5?

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

The market cap dropped because they decreased the circulating supply. It didnot affect investors like us. But I am not understanding how is 1% daily interest sustainable and why the price keeps rising.

Bitconnect traded in BCC Exchange with trade volume (98.58% $68 446 500 in 24 hours) And the rest for other sites Livecoin , Novaexchange and HitBTC CoinExchange The price has risen much compared to the past months

i dont deposit btc or bcc before in https://bitconnect.co ; but if the last site scam means bcc scam

I am not in and I will not invest my money there, I dont trust these guys imho. Other coins are looking better for me.

Yes Bitconnect is a Ponzi combined with a great MLM referral system ;) As all Ponzis it will crash sooner or later.
BTW: All those Bitconnect referrer shills are populating Youtube looking for fresh blood. You better don't rely on those folks praising Bitconnect because in the end your "investment" will be gone.

I am in the Bitconnect is a Ponzi camp as well.  The only caveat in my opinion, is that we have not seen the end of new money in this market.. and so without regulation, endless promotion will draw in the noobs in droves.

Regulation is much needed...  But good regulation

Those Youtubers are doing their jobs and using you people to earn referrer proceeds, though nothing is wrong with that, but the whole scheme is obvious will collapse but people are just blind to see the truth about the project because of greed

https://www.youtube.com/watch?v=kbR1SXIje1U (https://www.youtube.com/watch?v=kbR1SXIje1U)

If this video is true, it looks like a complete ponzi. It came to me very faintly.

I do not know whether is a ponzi or scam but because of that accusings, I cannot invest in bitconnect. It may be really scam for me.

Definitely a ponzi scheme.

Not sure why so many people are willing to waste their money on this obviously scam porject and not be willing to invest in web based ponzi schemes. Just because they are a cryptocurrency doesn't mean they are decentralized, and doesn't mean that the money is going to keep rolling in forever.

Stay away from all lending coins.

I noticed Bitconnect in terms of market cap; but you have to look at every other aspect
I pass because of he says she says and the other aspects not observable here https://www.coingecko.com/

You're spot on! And thankfully you do realize the consequences of this coin being a ponzi scheme. I know personally that many people know this is a scam but still promote it to others for their personal gains in terms of affiliate income.

This is not only misleading but also immoral in my opinion.

Bitconnect is no different to make money fast schemes or MMM global.

no, yes.

Ponzi and cloud mining crypto sites can be seen a lot from Youtube as they have huge affiliate commission. So do not fall from them,  stay away from them. Once you joined from this,  you will do the same promotion. You cannot earn from these without getting another victim.

Hello. Bitconnect really screams ponzi scheme from every corner. But it goes on and on. Im really curious how this plays out.

Cheers

yes, bitconnect is a ponzi,,
but, i see for now people don't care about that because its all about money,
this is very bad for crypto world, and now so many program with ponzi scheme start their program in cryptocurrencies  :'(

yes, bitconnect is a ponzi,,
whats wrong with you ? are you a part of bitconnect or anothers project thats similiar with bitconnect ?

Bitconnect is a well known Ponzi that has been around for a while, many still invest as they feel the reward outweighs the risk of the Ponzi being exposed and leading to bitconnect coming to an end.

this is a learning you can get rid of the ponzi scheme and not get lost further.
there are many referrals about this and you should always be careful in taking action.

its a well known Ponzi, so if you are going to gamble on it, then prepare to take the hit if it runs out. you could think that you might be the lucky one, but i just don't see anything good in this.

You just need to got to the bitconnect forum and just try to see about average activity in there. And the fact about the bitconnect only traded on its own exchange site, and the bitconnect exchange that only has a lot of volume comparing with another exchange site. None of the major exchange site wants to add that ponzi coin in their place.
many people get fooled by the scammer.

The early investors have made out like bandits in Bitconnect but all the late comers
will get killed when the Ponzi scheme fails. Nobody knows when that will happen.

Correct. If you look onto youtube you'll see that there is a ton of people promoting the Bitconnect scam including one popular youtuber which i won't name here but you can find quite easily by just searching up bit connect.

They're the reason bit connect had so much success in getting people's money out of their pockets in the first place, and they're earning affiliate earnings.

It's way too late to join the game. Plus joining a ponzi is essentially a gamble, you're much better off gambling your money in a dice site. At least you have a fair chance of winning.

Gambling in a dice site? ;D don't think of it. It isn't healthy to your money at all... Then again I'd have joined this but connect thing but looks like no one is in support any longer and those out there doing PR are there to milk the last few drops, this clearly is a conviction it's crashing not soon but soonest.

Ponzicoin is good for you

I think all cryptocurrencys are ponzi scams. There is no value and bitcoin price raise only because everyday thousands of stupids buy bitcoins. I belive that in next year bitcoin will crash mayby over 50%. Some people say that price cant go lower than it cost to mine but I think it can go to 0.

There are many people in bitcoinect and most of them believe that they can become rich with this scheme. But damn it, how can it possible when this coin is 100% scam. There is no way you can provide 1% interest to the people forever. It will come to the end. Hope that coinmarketcap will delist this scammer coin

Precisely this. The investments that you make completely depend on whether or not Bitconnect will keep their promise of paying out people interest on their investment, and also whether bitconnect keeps its current level or keeps going.

These are all unknowns and bitconnect could collapse at any time because of this.

Don't get caught in the hype.

So true! Bitconnect is somewhat a hybrid of Crypto with a mixture of Pyramid via affiliate system and lending program! ;)

Investing money to them and giving you a 1% a day increase in what ever amount of bitcoin you invest in them is a sure scam already like other ponzi/hyip out there.
Maybe at first they are not a scam but as soon as they are known thats when they start to become scam and you wont get what you will invest in them, so better careful than to be sorry later.

Well, yes it's obviously a ponzi scheme, I am amazed how they got that huge funds of bitcoins by their investors and I also believe that they will become one of the most successful ponzi scheme in the history of bitcoins like hashocean before (do you remember it? the cloud mining shit? ;D)

yes i think it is a ponzi. bitconnect has no real value and is only growing becuase people are so naive and they like the high numbers that bitconnect promises. i stay away from this coin

yeah its a total Ponzi scheme - but I'm day 150 into it - and made loads - if it closed today I would still be a happy man. I've made all my money several times over and know it could close any day. So I have only the money in there I know I could afford to lose.

Also my thinking is that if they are bringing out a credit card etc in Dec and promoting it all the time - its still going to be around for a while longer. so cha-ching :)

I am not a part of bitconnect nor any projects that are similar.  The amount of people doing it is scary.  Bitconnect will definitely get the feds involved.  #Madoff2.0

I think Bitconnect is quite in transparent and might be a scam. I think a lot of you tubers are wrongly promoting them. The market cap just dropped yesterday around 0.5 bln.

Does BCC even have a working product? What is the purpose of their coin?

any sane investor would not invest into bitconnect. just look at the main people shilling it on youtube. uneducated and unprofessional

This may well be a Ponzi scheme waiting to become big if not nipped in the bud this early. There are many people in the crypto world that are very weak and gullible and easily convinced with too good to be true offers and will invest easily to people they do not even know personally. I have stumbled upon this Bitconnect scam even in my telegram account. They are saying that there is a money wired transferred to me.

Keep calm guys, the ponzi is about to collapse, that's why you can sense so much desperation and shilling, we're seeing their last days.  ;D

i ve heard million times that it s a scam but im regret that i didnt invest it around july, i could make 5x . my other regret is bitcoincash. i want to buy middle of October but everybody says it s worthless than i didnt want to buy now its 2.5x in just 20 days. so even something is scam or not you can buy it and use STOP LOSS than you will not lose to much but can earn huge .

Big ponzi. This is the 4x the size of mtgox.

 Once it fails, here come the bears.

big scam big ponzi biggest lie and most of their pictures and videos are fake.
Only retards want to invest in that scam coin.
they done ICO but didnt have something to release

Stay far away from Bitconnect and any other ponzi like coin scams. More and more are popping up everyday and will only continue to get worse due to Bitconnect marketing to people that don't understand it all.

I mean i have used it for some time now, made a decent amount of money lending on it and moving it to BTC afterward. It could totally be a scam but why not get paid before it goes away. I have also recently be using Regal coin also its literally the same complex but just released so it should be around for awhile to get some money into it. The benefit i find with it is that its daily Accrual rate has been over 1% since i started last month and your capital even for 100 dollars is only held for 99 days as apposed to Bitconnects time frames where 100 dollars is like 8 months.

If interested https://regalcoin.co/ref/THRENIN

Yes, it looks like a ponzi scheme. I don't invest in it!
Pretty weird its price is so high and it's always on top 20. I hope this bullshit will end soon and people won't lose too much money when it ends....

I am very sure you are already smart enough to detect that it is a Ponzi and no need going further. It is just in a matter of time before they receive their judgments.

It is a Ponzi and everything about it screams that and you are better off putting your assets in your wallet than considering putting your funds in them. Usually, those in the lower part of the chain when things are about to go wrong are always the ones who suffer it, so stay away!

Bitconnect using scheme like ponzi or somthing and it is not good if you register now. The price already too high and the company will goes down soon. If its look too good to be true its mean something fishy there. You better buy vertcoin or bitcoincash or invest your money on crypterium then put ur money at bitconnect and its locked

It is just greed!
It is funny that most people always know when they are in a Ponzi scheme but they always find a stupid means of justifying it.

I won’t be surprised since that is what keeps the ball rolling for them, cause as much more gullible users like them keeps stepping in, the more they keep getting and so on until one day, the cycle cannot just help itself any longer and then die.

The system is based on locking people into constantly reinvesting due to greed, as I advise people on my YouTube any of these things are very high risk and you can make money or lose the lot. Investing $100 into it may sound like a good idea but they also lock your money in. I put $100 in a while back and simply move the money into their coin and let it go up in value. Then once it hits a certain level I withdraw it regularly so when it does go under it won't have lost any of my money.

But the whole thing just doesn't make sense even with people I know who think this is an investment platform it still doesn't add up. Chain Group I have invested in and it has been working well nearly 70% a month return and grown from $50 to $1,500 but even that I am not calling it anything more than high risk.

I know some people shout Ponzi as soon as you can get more than 1% a day ROI but you can do it yourself if you put the time into it on the markets.

I took a step back and thought about it, if the price of bitcoin goes up biconnect may be able to pay back investors in dollars and not bitcoin.  Also if there are more bitcoin hard forks then all the minted alt coins from the hard fork go to biconnect.  If these hard fork coins get pumped like bitcoin cash, bitconnect may be able to pay back investors and come out on this gamble; but if these forks do not follow through like segwit it'll be a sad day for bitconnect coin owners.  Hodl your own bitcoins...

You are correct but it would need to be one massive gamble that it is constantly going to benefit from which is unlikely. I would say they are still going to be around for another 12 months maybe due to the fact they are pushing roadshows to feed the system. But the numbers just don't seem realistic its like most "lending" platforms unless there is a real need for this volume of $$ it would be very difficult to hit the daily profits. The false stability is coming from people constantly reinvesting in the coin and artificially inflating the system.

Don't get me wrong with Ponzi, MLM, Pyramid they are all eventually going to fail and the important bit if getting into them is to recognise they are exactly that. But investing early getting your ROI then rolling interest means you could have done well if in early or even now. The gamble is when will the house of cards fail.

I think it grow much before it turns out its a scam, but not worth risking.

I see nothing suspicious in this exchange...however, I heard that there are crazy withdrawal fees and sometimes you just cannot withdraw what you want because of that...

Change your bitconnect coin tokens on a promising new project ponzitust.com at a price 20% higher coinmarketcap. Write here or mail me petrkirilov2018@gmail.com

Well I have heard of this coin, they have gone bankrupt and many are complaining about Bitcoinct. My friend still holds this coin but does not know what to do. I think we are losing money in the Crypto market. They are risky to date.

It just a drama that they got bankrupt, the scheme is very clear that they are going to scam one day and boom it all happened in a flash, real quick.

Don't generalize that because your friend invested to a scam coin, we are losing money in crypto. You have to understand that there's a risk but don't invest and put yourselves into a scam coin.

I bet your friend bought when it was on hype but now look on how cheap it is.

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Well I bought some Bitcoinct coins. Today I think they have broken up and my capital no longer exists. They have died. I regret the choice to invest in this coin. But this is a lesson for me. I remember this lesson.

I'm not in, definitely not my project (coin whatever). Won't risk to buy them as they seem for me like a ponzi. Not a scam, but...how to say better, I think they are alive only because strong and aggressive marketing position - that's it

Such an old song to sing man. Everybody knows that Bitconnect is a scam so why there are people like you who still wanted to take the risks? You can try to invest in any other coins but in Bitconnect, I don't think its a good idea. Although they are planing to have another ICO for this year (rumor), its still a big no put up your money in it.