Bitcoin Forum

Hello
im new member :D

i invested $750 into https://bitconnect.co
and i have been witht he site for about 2 weeks now

just enjoying it and thinking one day i would hopefully pull out $10k or maybe even more
but then i did the search on google and youtube "bitconnect scam" and oh my god everyone is telling not to invest into this platform cuz its scam its a ponzi pyramid

but if the are scam why would they then be #16 at https://coinmarketcap.com/ with a value of $1.023.397.120


after doing some more research i found some stuff that made my bells ring like

we dont know the owner/founder?
we dont know address?
we dont know if they really have a trading bot?
it's a bit fishy to get 1% a day
after they got confronted at blockchain EXPO 2017 https://www.youtube.com/watch?v=KjkS-9y_0PI they really seem like a scam company to me

what are ur guys thought about this?
legit or not legit?

the very principle of blocking his money I find it counterproductive and also when you see the quality of their meetings and the reputation that they have ...

I looked into Bitconnect a while back and it raised too many warning flags for me to get involved with. The biggest concern being the promised returns. If someone could earn returns like that legitimately, why would they need to share it with investors?

So since you are invested with them, are you able to withdrawal at any time, or is your money locked in for some set period of time? It is one thing to see paper gains, quite another to be able to withdrawal your money.

i havent tried to withdraw yet but i have seen friends do it without problem

im just worried of all this scam accousation 

Since you're a bit new let me explain a few things.

This means you literally don't know what coinmarketcap is. It's a website that lists each and every coin/token that has a website and is being traded on an exchange whatsoever.

Their rank is #16 on that list because the default filter applied is according to the total market cap of the coins. And that's where it put itself.


Well you basically answered your own question. Do you think a company/brand/coin that has all that can be considered legit or even close ?



Well they probably won't even be there any more when you reach that amount.


Well first of all, you should pull out your money at once from bitconnect as soon as you can. It's a total scam. They control the markets, trades, everything. Their reputation is the worst a crypto currency has ever been. I don't know why or on what basis you just decided that it's a good place to invest in but whoever or whatever advised you to do so is totally untrustworthy.

Besides, just take a look at their price graphs. HUGE drop in market cap while the price is exactly the same and even rising ???

https://i.gyazo.com/55cc55540ee02327e96cf258f86cc8c0.png

Definitely not something that I'd trust my money with. There's way too many trusted currencies to invest in. ETH and BTC on the top of the list.

You dont even know those details from them, but you have already invested $750 so far, this is kinda funny!


Why have you invested in this? did you knew that they were a ponzi or a pyramid scheme?

Have you ever invested in one of those projects before? Because it is full of them, and you are not going to be the first one who has been realized that bitconnect is a ponzi.
Maybe you are going to make a lot of money before it disappears, and that is the main reason of why a lot of people are still investing in there.

But yes, it is risky, veeery risky , i would not even put a single dollar in there.

I dont know this coin - but as a piece of general advice, you should do your homework yourself - every time. Just to be aware that inevitably there will be FUDDERS and Fanboys - and sometimes it is difficult to tell truth from reality.

The simplest advice is that if you have doubt, look at another project - there are many - in Crypto the gold standard is BTC and even that comes with no guarantee, so you need to look out for yourself. On the upside - when you pick right - the rewards are awesome.

Yes  Bitconnect is a scam/ponzi. You should watch out for those ponzi, there are so many ponzi coins which is worring to me. Never invest into ponzi , look what happened with bitpetite they exit scammed

i invested because of a friend who made good money at the site and i was like i want that to

then after i invested i did not quite understand the site to i went on youtube to find a tutorial on how to use site and slowly i came to videos about how its a scam/ponzi whatever they call it :(
and now i kinda regret i invested :(

With all the promising projects on the market, why head for the worst?

Bitconnect is NOT a scam. The people who say so have no proof. I invest in it cautiously, making sure I get my initial investment back before letting my funds accumulate. I get paid everyday and have no problems withdrawing. You really have to learn how the system work, once you do you’ll realize it is not a ponzi. The main point to know is that your returns are based on the success of a trading bot, which is based on volatility, and that returns aren’t guaranteed. The last few days have been weak. Getting in early is key, I suspect over time returns will slowly diminish.

and how much have u invested into this?

Better witdrawn when you can,it is classic ponzi,how anybody can promise you 1% a day
I saw many programms like that in the fiat money market

Yes withdraw everything from bitconnect they are about to collapse and there will be huge dump on their tokens. It is like a ticking bomb

today i get 0.19% so not even close to 1% yesterday it was 0.11% tomorrow it's 1.24%
but yea maybe i should just withdraw when i can


what else is there to invest in? i read about all those kids who is millionaires because of bitcoin but not how

You should get your account red-taged because of trying to promote this BIG SCAM.



Are you blind? Probably you dont even know what a ponzi is.

I will explain it very simple:


1: You invest
2: Another person gets paid with your money.
3: A guy invest
4: You get paid

And that is a huge cycle and the only way that it could stop, is if people stop investing, and that is going to happen because there is a lot of bad advertising about bitconnect.

It is going to die soon.

Bitconnect is 100% a ponzi scheme and fraud. I dont know how anyone can invest anything in their platform after reading that they promise a 1% daily compounded interest rate. You could basically put in 1 btc and 1 year later become a multi millionaire without doing anything... and yet people still keep falling for it, smh..

how is that?

lets say 1 BTC = $10.000 and u get 1%

10.000/100*1 = $100 a day *365 = $36.500 not a million?

BitConnect is a ponzi and a not sustainable one. It is just a matter of time when people will start dumping, the crash inevitable.

If I was you, I would pull my money out immediately, and be happy if I earned something.

i indeed will $50 at a time

It's a ponzi i think. However if you using that site be better to leave it because i've experience the same thing when i joined on ponzi website and get scammed. Whatever kind of ponzi not long they will scam.

Wow what a FUD fest this forum is.

Bitconnect is not a scam coin just because the dev's didn't disclose themselves originally and used a shell company and a strawman director to start the company.  As the rep states in this video https://www.youtube.com/watch?v=753EU0iU8QY from the same conference where that jack ass so called journalist got up in his face and started accusing him of being a scam based on the math:    It was a placeholder company and has since been replaced by an international company on the companies' house website with the directors listed.  I would suggest that so called journalist dude go and apply his sound mathematics to the FED and the printing of the US dollar which has been debased by 99% since its issuance via money printing.  How is the dollar sustainable? Because it's backed by guns thats how.

So the Queen isn't taking any bitconnecters' holdings or earnings.  I thoroughly researched Bitconnect back in May, thought it could be a climber based on the fact that crypto and the blockchain and smart contracts lend themselves to these types of "pyramid" coins if you insist on calling them something with a derogatory name.  I didn't invest at first because I was making 10% a day trading the alts which were popping off until June and the shift into ICO craze over the summer.  I thought 1 - 2% a day was not worth the bother.  After reconsidering my decision not to invest, I went in at a high enough level that I have earned 3X what I invested originally and am compounding every day (yes locking up the investment for 299 days as I am convinced bitconnect will still be there in a year) to increase the principle so that the daily interest payout will be more than enough to make my day.

 I have also pulled out about 66% of my initial investment and will pull out the remainder over the next few weeks.  Thats my strategy with most of these POS coins and lending coins recoup the original investment and play with the house's money.  Some lending coins will work others are scams or will fail. Bitconnect happens to have been paying out for the past year with only a brief hickup when they had a problem with people being able to take advantage of a glitch in the code that enabled them to take more out of the wallet than they had in it, creating a negative balance.  Bitconnect fixed that without forking the coin or screwing anybody, and kept on truckin. If they were planning on exit scamming that would have been a prime opportunity.  

You want the truth. Every asset including fiat and gold and silver and bitconnect as well are confidence games. If people's confidence in the asset drops so will the value. If people lose total confidence the value crashes to $0.  Even real estate crashed by 50% after the 2008 bubble burst in the MBS markets.  I know because I was there in the thick of it fighting to keep people in their houses after they had been screwed by the big banks who were filling the demand for MBS inventory with subprime loans they knew would eventually blow up, but the banks didn't care because they were offloading their toxic crap with Bogus AAA S&P ratings on unsuspecting pension funds and foreign banks.  When it all blew up they came begging to the Government for corporate welfare to the tune of 16 trillion dollars. Socialism when they get in trouble and capitalism when they are in the green - some system! The moral hazard created when none of those fraudsters went to jail has resulted in the kicking of the can down the road, and the implosion of the US economy has been delayed, but is inevitable.  I'd rather have my assets in bitconnect than the US dollar.

Meanwhile, Bitconnect continues to pay and pay and nobody who shit talks it has anything new or original to offer besides the same old tired accusations that those of us who follow this coin have heard over and over with no inevitable crash occurring or even appearing on the horizon.  The CMC total market cap dropped recently not because the devs suddenly made off with 1.5 Billion $$ but rather because CMC decided to stop counting the lent coins in the total market cap since they are out of circulation until released.  That wasn't Bitconnect's doing.  And in fact the total market cap is undervalued significantly because of that.  So if anything Bitconnect is solid financially.  Plus they recently redid the referral program lowering the referral fees and levels, which makes sense since they don't need that MLM marketing anymore as they are now well established.  

As long as Bitcoin continues its epic climb, so will most of the alts including Bitconnect. They are even releasing their own debit card tied to bitconnect which expands their use case to the next level.   As long as crypto continues to go mainstream and there are friendly governments that aren't trying to kill or control it exist, it will do just fine.  

If you aren't willing to risk it, guess what no biscuit.  

Fudders will FUD meanwhile Bitconnect will pay.  If it does hit a wall some day and crash and burn most people will have recouped many times over what they invested in it.  

Don't follow my advise, do your own due diligence and make your own investment decisions, crypto is for responsible investors who aren't afraid of the tech, and are willing to build the new digital economy that is taking the world by storm.

I have invested only 100 $. if it is a scam then I have lost a little money, if it is not a scam in 3 years I will be rich.  ;)

Yes, most probably it is a ponzi scam because they promise 1% profit everyday wich is very high for a good investment company. You cannot earn a profit of 1% everyday plus the commission for you on a long time. They give your money to another person and when someone new invest you receive back your money.
They control the market and the trades. Their reputation for this is extremely bad but people dont see that. The website is highly promoted by popular persons who have no idea what's this all about and thats why it is so popular as a good investment.

It is probably going to stay a bit more time on the market but there is going to be a time when they will take all the investments and close the whole operation. It is not the first or the last website who does this. So withdraw your money as soon as you can

Forgot to mention, there are trading bots out there and they do work.  Here's a link for one you can use yourself if you like.  https://cryptotrader.org/

Not free, but certainly would be worth the $50 bucks a month if it can make 1-2% interest a day.  Of course it isn't for the weak hands who don't have the ability to invest for lack of funds or lack of brains and jump to conclusions based on knee jerk reactions to watching other fudster you tube idiots.

Is it a ponzi? When and if it will collapse or be shutdown???  This mans name is Carlos.  I do not know how he is connected to Bitconnect but his speech is interesting :o


https://www.youtube.com/watch?v=T1He1UFYIiY

There are more bitconnect clones that exist like Ethconnect and Neoconnect with more to follow im sure.

i cant take Carlos seriously

Fact: I’ve quadrupled my investment in a short period of time and never had a problem withdrawing or earning.

Now, provide your facts showing it is a ponzi and that it’ll die soon.

Chirp......

The BitConnect scam thing seems to be sure. The fact that bitconnect rates have dropped from over $ 200 to $ 2 now has proven itself. This model only exists when the exchange rate of cryptocurrencies increases, if the exchange rate of market drops too fast, the ponzi model will fall into a situation where there is no money to pay for investors, resulting in the current time of Bitconnect.

It's a real scam.
https://techcrunch.com/2018/01/16/bitconnect-which-has-been-accused-of-running-a-ponzi-scheme-shuts-down/

It only means that people who are behind and responsible for running the ponzi took profits and have an exit.

what do you mean
you real bitcoinnect dev or only scamer

Bitconnect is well known Ponzy scheme. I don't feel sorry for all the investors who know that, but they were thinking, that they are clever and will get away before bursting the bubble.

Oh man these “not a scam” rants are hilarious to read now.

People tried warning you, but look how you behaved.

You all deserved it.

Bitconnect is completely a legal site or I must say the most profitable site and if you have invested your 750$ in it then be calm and have patience and just keep holding your coin that these currencies are bit volatile one and thus its valuation keeps on flactuating so if you have invested something then just wait and wait for the right time when there will be a pump you will get your profit and don’t listen to them who do ever calling it a scam or a Ponzi pyramid as they are nothing but FUDs .

This project was obvious ponzi from day one but people were greed and keep buying. Lots of people lots a lot of money because of this scam.

And they should only blame themselves for this.

damn you are stupid if you believe on this pyramid scheme, this project is already dead long time ago, it's clearly you dont know anything about this stuff you just spout some nonsense, maybe doing a quick google search could know the truth, this coin isnt even on coinmarketcap anymore, stop convincing newbies here to invest on this garbage.