No it's not, man!Asshole Bruno checking in to once again prove that BitConnect is a 100% scam using their own words. https://bitconnect.co/terms-of-use/For the retards in the audience slower than the normal retards, allow me to read the highlighted part slowly to you. Please pay attention else there'll be no cookies and milk for you later. The service is available only to individuals who are at least 18 years old. Can one of you special retards tells me what that means? ... Don't raise all your hands at once now. ... Nobody? ... Okay, I'll tell, and afterwards cookies and milk. It means that a person can't be 17 years plus 364 days old. Nor can they be 17 years plus one day old. And definitely NOT 16 years old. Why? Because 16 year old people are younger than 18 year old people. To put it another way, 18 year old people are older than 16 year old people. Any questions? Yes, Jimmy. ... Jimmy asked what kind of cookies you all are being treated to. The answer is peanut butter and strawberry cookies with mercury frosting, served with imported milk from Fukushima, Japan, because the establishment wants to see all of you glow ... I mean grow. https://youtu.be/gD0ut74tYgs?t=35At the 35 second mark (linked above), CryptoNick clearly states that he is ONLY 16 years old. From today's lesson, is 16 years old older or younger than 18 years old? If you answered younger, then you, too, can have some of them delicious cookies and milk. How many referrals does CryptoNick have, you ask? ONLY 1,700+. Now, if BitConnect wants to prove that they are operating on the up-and-up, then they'll do the most logical thing - suspend CryptoNick's account and clawback his referral bonuses and all the interest on his investment paid out since it's 100% evident he lied about his age when he agreed to their ToS when joining the program. Feel free to refute the above, S2B, whereupon I'd gladly stick your fifth post - like your other four - back up your moronic asshole, you fuckin snowflake who can't handle adult language. You jave worked hard to prove your point and it seems your point is valid.Now lets see wht other party says "Yes, my son, Nick, is only 16. And what's a crypto guru? Is that you, Uncle Bob, who used to put your hands down my pants when I was a little girl to check for bugs after I played on the beach?
I still can't get over how you two look so much alike. Ken? Wait, this ain't Uncle Bob?" |
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No it's not, man!Asshole Bruno checking in to once again prove that BitConnect is a 100% scam using their own words. https://bitconnect.co/terms-of-use/For the retards in the audience slower than the normal retards, allow me to read the highlighted part slowly to you. Please pay attention else there'll be no cookies and milk for you later. The service is available only to individuals who are at least 18 years old. Can one of you special retards tells me what that means? ... Don't raise all your hands at once now. ... Nobody? ... Okay, I'll tell, and afterwards cookies and milk. It means that a person can't be 17 years plus 364 days old. Nor can they be 17 years plus one day old. And definitely NOT 16 years old. Why? Because 16 year old people are younger than 18 year old people. To put it another way, 18 year old people are older than 16 year old people. Any questions? Yes, Jimmy. ... Jimmy asked what kind of cookies you all are being treated to. The answer is peanut butter and strawberry cookies with mercury frosting, served with imported milk from Fukushima, Japan, because the establishment wants to see all of you glow ... I mean grow. https://youtu.be/gD0ut74tYgs?t=35At the 35 second mark (linked above), CryptoNick clearly states that he is ONLY 16 years old. From today's lesson, is 16 years old older or younger than 18 years old? If you answered younger, then you, too, can have some of them delicious cookies and milk. How many referrals does CryptoNick have, you ask? ONLY 1,700+. Now, if BitConnect wants to prove that they are operating on the up-and-up, then they'll do the most logical thing - suspend CryptoNick's account and clawback his referral bonuses and all the interest on his investment paid out since it's 100% evident he lied about his age when he agreed to their ToS when joining the program. Feel free to refute the above, S2B, whereupon I'd gladly stick your fifth post - like your other four - back up your moronic asshole, you fuckin snowflake who can't handle adult language.
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^ The confessional is next door @BADecker's. Just ignore the glory hole. Or don't...  The things they teach at schools nowadays ...  "A nice man, new to the neighborhood, helped me carry this display to school. He even held my hand when crossing the street after we took a shortcut through the woods where he asked me to do several cartwheels. I think he got poison ivy or poison oak because he kept scratching his private parts while I was doing the cartwheels." |
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This thread is starting to become nonsensical. Every member has bitconnect addresses and bitcoin addresses to send BTC and BCC to. It may be that the coins are quickly moved out into storage wallets so remain empty most of the time.Anyway the end is nigh....just saw this video lol https://www.youtube.com/watch?v=6m3Fks8liUwDon't join control-finance though that is obviously some scam.....they could be gambling with the money to try and double it themselves (50% chance lol). Their Benjamin is obviously some actor too (great british accent there) https://www.youtube.com/watch?v=Kev6On0qs0MDude, if you could explain how that feat is accomplished, you'll be a billionaire tomorrow. Retard 1: Why is your BCC wallet empty? Retard 2: Because I moved my BCC into a storage wallet. Retard 1: But can't that wallet also be seen on the blockchain? Retard 2: Obviously, you don't have a clue as to how storage wallets work. Retard 1: Guess not. You are so smart! How much is the minimum to invest in BitConnect? U$100? Retard 2: Actually, for you it's now U$1,000 because I let you in on its business model. Retard 1: You're the bestest. Here's my money. Now what? Retard 2: Wait. While waiting, start a YouTube channel and sarcastically say that BitConnect is a scam in every video you upload like Crypto Mark. Retard 1: Can I also upload videos dissing Ponzi schemes. Retard 2: That's normally saved for seasoned BitConnect investors who know what they're talkin' 'bout. |
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I wonder if we can create a writeaprisoner account for Garza once he is incarcerated? I remember Susan Smith had one.
Dear Garza, What goes through your mind when you think about other dudes fuckin your blonde ex-wife? Regards, Bob PS: I wasn't thinkin' 'bout you when I was fuckin her last week. Yummy! |
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I think Bitconnect has a lot more than 6,000 victims. They had a Facebook account, which now no longer exists, that had over 120,000 likes on it. I wonder what happened to it, even the Facebook link on their website is now dead. Here's Alexa rankings: https://www.alexa.com/siteinfo/bitconnect.coIt's hard to say how many site views that they have, but it's clear they have a high user base to rank at that level. Bitcointalk.org is in the 4000s and according to this site's statistics, there were already over 5,000,000 page views for the first day of September and there are over 1,000,000 members here. My guess is Bitconnect has somewhere between 250,000 and 500,000 members. Most of them probably don't even have a BCC wallet, why bother to withdrawal when it's a useless coin anywhere else. Deposit BTC, buy BCC, lend BCC, repeat. Bitconnect must hold the majority of BCC themselves. Why would upwards to 500,000 people become members of BitConnect, yet have no intention of participating in their wonderful program? That 6,156 figure reflects exactly how many wallets there are to date, with a given that many folks maintain more than one wallet, it's safe to assume that there's less than 6,000 people invested in BitConnect, a majority of those investing the bear minimum - U$100. My guess is Bitconnect has somewhere between 250,000 and 500,000 members. Most of them probably don't even have a BCC wallet, why bother to withdrawal when it's a useless coin anywhere else. Try reading what you pen prior to publishing. Rumor has it that it's all the rage. Firstly, the second sentence consists of two clauses that's nowhere near similar in nation, ergo no comma - two different sentence. But I assume that in your mind there is a connection, in which case I'm at a lost. So, up to 500,000 members invested in BitConnect but probably don't have a BCC wallet because ... wait for it ... why bother maintaining a wallet for freshly purchased coins because they aren't worth a rat's ass anywhere else on the Flat-earth. That might make sense to fellow retards invested in BitConnect, but not for naysayers in the real ball world. you sound like a bunch of liberal retards. ponzi ponzi ponzi hitler hitler why is it a ponzi and why am i hitler. make an argument stop accusing.
This dude is going all in with showcasing his retardness. Sadly, this guy is in either the conservation for libertarian camp since he just dissed liberals which I'm not one. Please welcome your newest member, Retard S2B. I'm not promoting this shitcoin, I hate it. I've been blasting Bitconnect for months now. I don't know how Bitconnect manages their platform wallets, but I assume the "wallet" they give you isn't a separate address that shows up on the blockchain, it's just a number on a spreadsheet. All that being said, Bitconnect must have more than one user for each of their addresses, hence 100,000s of users for just a handful of addresses with coins in them. Excellent point, albeit disproved by the likes of this dude - https://www.youtube.com/watch?v=EBIdCNCsGMg - depicting their BCC wallets on YouTube vids, all of which show up on the BCC blockchain. |
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As stated in the OP, here's the relevant quote: In pursuit of our attempt to quickly raise close to U$10,000 in satisfying the organizer's minimum funding request in overseeing operations of YuTü.Co.in's forthcoming ICO - tentatively scheduled to commence during the third week of September - we're offering the next 22 PAQs at the slight discount of only U$200. That equates to less than U$1 per PAQ when you factor in the rewarded bonus PAQs during this overall pre-ICO offering.
To reiterate for those not versed or have yet read the OP, 1 PAQ will be capable of hashing no less than U$2,628 worth of a YouTube channel's crypto-commodity token as long as its creator embraces our program - multiple channels by the same creator would have their own token predicated on the YouTuber's ambitions.
For those with 2 BTC earmarked for investing, we'll offer you the balance of 2,038 PAQs making up this pre-ICO (was 2,047 PAQs but sold 9), of which includes the 9 bonus PAQs per procured PAQ (see OP re details). Further, instead of waiting for the 50,000th PAQ to be sold in rewarding all bonus PAQs, we'll make it the PAQ ID #50,000, thus putting it somewhere south of 30K PAQs needing to be sold for all the bonus PAQs to be rewarded accordingly.
To further sweeten the deal, you can consider the 2 BTC outlay a loan, repaid in full plus 10% interest at the end of the ICO no later than October 31, 2017, and you get to keep all the PAQs included the bonus ones. TBC, you'll be returned 2.2 BTC unless the exchange rate heads south, whereupon you'll be repaid more than 2.2 BTC up to the highest exchange rate in U$ dollars during the interim.
The ONLY way you can lose in the above offer is if I, Bruno Kucinskas, high-tails it into the sunset for a measly 2 BTC, by all accounts, foregoing the projected millions expected to be raised during YuTü.Co.in's ICO.
Please ask questions if you're unsure of anything.
Bruno
Bitcoin wallet address: 1ApA2xnuauEn8ha5sFdXJr6zniqQdBS4wF
Ethereum wallet address: 0x6DC3A615c4ccfB6C322d80d2205E57065B16BeA4
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Yep this guy and Ethtrade are scammers. They take our hard earned bitcoins and run by making an excuse of the Aug 1 event as write off lost. I should listen to my friends before now they are all bullying me leason learned for HYIP. Now after the closing of Ethtrade.org they now starting to promote Ethplus site. Please stay away from this newvsite especially the same staff are still Tomas Novak and Louis close stocking.  Ethtrade.org staff are now in Ethreum Plus which is consided scam too and there is another site that looks like the same format with Ethtrade.org Beware of this site https://etcbank.io/ lots of people out there that is looking for investment but dont know what is scam is so lets remind them too. Confirmed Mate this endeed looks like ethtrade copy cat. The format and the description are almost the same except from the staff but we can think that these people are hired as an actor because they are not known in business world. So i say this new site is a scam too. My gratitude of sharing this post Pal. FWIW, I'm the first person to bring the etcbank.io site to light.  |
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Come on mods, you can do a better than that! There's easily several posts of mine in this thread perhaps warranted deletion but not the one below. The person I quoted is kowtowing BitConnect but doesn't have a fuckin clue as to what he's talkin' 'bout, so I kindly [bit]corrected him: see 20pt purple text below: A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. I'm going to put an end to this Ponzi scheme bullshit once and for all! Everyone who says its a Ponzi scheme says that it is because BCC offers a 1% guarantee on returns per day THIS IS FALSE. No where is it guaranteed 1% a day!!
Now here are some facts to help people out.
they performed a pre-mine to generate at least 4.8 million coins
they adopted a Proof of Stake / Proof of Work system. Proof of Stake essentially means, that anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network.
Now, what do you get, when you mix these two facts together?
Proof of Stake allows them to accumulate interest on their pre-mined coins! Let’s assume they kept only 2,000,000 BCC from their pre-mine. Their current holdings would look like this: 1,543,122 BCC (interest since Jan 2017 till June 2017) + 160,000 (interest since July 2017 till August 2017) = 1,703,122 BCC accumulated in interest since Jan 2017 till today. In USD, at the current USD/BCC rate, this would be $102,187,320. Remember, this is from the interest alone!
So everyone saying they dont know where the money comes from well this right here explains it.
Now, let’s quickly recall the basics of how BitConnect service works. You give them Bitcoin, take in exchange BCC (their own token), which eventually… you give them back again (lend). So… who in fact holds most of the BCC tokens?;> And who takes profit from the Proof of Stake?:> Yup, you got it. They have a virtually infinite supply of them due to the fact that they have staked millions of BCC, which they are accumulating interest on.
So in essence, the interest they are paying you, does not have to be their returns from trading, but simply just the interest they get from their Proof of Stake system!
Just for fun, let’s see what fraction of their BCC holdings they need to redistribute to their users to keep them happy. First we need to make some assumptions, because I am unaware of how many users they have and what average amount of Bitcoin their users send them. I think the following assumptions might be reasonable:
10,000 users, with an average BTC deposit of 0.1 (~$220 at the time of writing this). This means that they have approximately 1,000 BTC in holdings. For an average user of 0.1 BTC, in 1 month they should expect around 0.035 BTC in interest, if they’re getting 1% per day. Multiply this by 10,000 users and you get 350 BTC per month, that they need to pay their users… But they don’t pay them BTC, they pay them BCC!
So in 1 month they are expected to pay their users approximately 350 BTC * (40 BCC / 1 BTC) = 14,000 BCC per month. Earlier in this article, I calculated the approximate amount they made in interest due to the fact, they are staking their pre-mined coins. In this month alone, assuming they staked around 2,000,000 coins, they have accrued about 160,000 coins. That 14,000 BCC they need to pay their users is a mere afterthought.
Having a look at the richest BCC address, which I think is more than reasonably assumed to be owned by BitConnect, they can easily sustain 100,000 users just on the interest accrued from this address alone!
So you see everyone who screams Ponzi is either a TROLL or a HATER or even a DUMBASS.
if anyone is interested then join on my link i am making very good returns on BCC even during the crash i was paid what i was owed.
I'm going to put an end to this Newbie retard once and for all! https://bitcointalk.org/index.php?action=profile;u=1133531Yes, let's assume that BitConnect has 10,000 users in spite of them being on record in stating to have at the extreme most 6,156 users:https://chainz.cryptoid.info/bcc/#!rich "BitConnect - Not a Ponzi!
For once and on all fours!"I can't wait to read S2B's next retarded post.  "Can you believe that this is just the interest money on our
BitConnect's newly created cryptocurrency?
We're gonna need a bigger vault." |
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 "Joe, all I know is that we as scientists are suppose to analyze this pile of shit,
but I think the research is for some secret project." |
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oh you didn't know. In Bruno's deluded mind and psychotic world, the day you join this bullshit forum with its manipulated trust is the day you are officially in crypto. And anything yuo post or that can be found anywhere on the internet is 100% true.
You are not dealing with a guy in his right mind(not my words but other more official people who have dealt with him on a true personal basis). He purely thinks his shit does not stink, he will twist a post and bend it so it fits his delusional thinking, and then he has his asshat friends who do very similar tactics in thier rants to come in and back him up.
From the desk of Bruno's Deluded Mind and Psychotic World:The following is what Leroy Fodor penned about me being a so-called rapist (NOTE THE TIMESTAMP): https://bitcointalk.org/index.php?topic=2017592.msg20514832#msg20514832Follow the link to ... Did you forget your a criminal who cant obey the smallest of laws?
A troll who cant obey the simplest of forum rules?
Did you forget how outlandishly you embellish everything you do?
Did you forget your involvement with BFL, Of which at no point at any time was your testimony or any acts you conducted instrumental in anything against them?
Yea YOUR OPINION is one we shoudl all trust for sure, a lieing cheating criminal who supposedly did work for BFL yea your a real winner.
Here's a screenshot: Proof that Leroy Fodor will 100% make up lies to advance his scam, doing everything in his warped mind in trying to discredit me for depicting him as crypto's number one serial liar. |
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And for the record I pissed nothing away, this is crypto, and Suchmoon if you are so delusional to not understand the markets and variations and volatility you should not be posting here. FYI we took in 128 BTC and have paid out over 150 BTC, we still have members getting paid every week no matter how much Bruno would like to skew the payouts, claim nonsense and downplay the amount.
Bruno is just trying to bring awareness to his little bullshit ICO idea he stole from someone else anyways. all he cares about is post count and siggys.
Firstly, Leroy Fodor is a fuckin liar - crypto's number one serial liar. I didn't steal my idea from anybody. In fact, the idea was stolen from me by a Russian scam artist now in the process of fuckin the community. Next, Leroy "Honestly" Fodor, exactly how the fuck am I skewing the payouts when it's your links I'm depicting? Namely ... https://stakeminers.com/transactions.phphttps://blockchain.info/tx-index/2fe61ed8e143eda1bdf494df8ddc8c5259378da384f635680d917a36c3e8e68fAs if your first post wasn't enough in depicting yourself a fuckin retard as I so predicted, S2B, since you're now on record in siding with Leroy Fodor, consider your cred destroyed thanks to your infinite wisdom. |
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Yes i have been reading this forum for a long time and joined specifically yesterday so i could post.
How nice of Gleb to point out when i joined like that has anything to do with my credibility.
Wow Gleb you really put an end to me bro! just like you had BCC personal information and they gave you a million dollars.. Dude i think i hear your mom calling you for dinner time to go upstairs and out of the basement.
Gleb is nothing but an internet Troll.
So what if BCC only has 6k users and i said lets assume 10k my theory still stands and the way they make profit still stands.
Gleb said nothing to rebuttal my post all he did was rely on cheap memes and name calling. Way to go Gleb you are such an awesome informative person. Not just some random crazy person screaming SCHEME SCHEME with no proof.
Answer me this how is it a ponzi if they dont guarantee the 1% return?? or are you just going to name call again...
Look, you stupid moronic asshole, if you've been reading this forum/thread for such a long time, then tell us how the fuck you weren't able to follow a simple link depicting the size of BitConnect's user base prior to you penning that you didn't have a fuckin clue as to their size so you assumed 10,000 users in demonstrating your voodoo math. I did 100% rebuttal your post, you fuckin asshole. In re your question "How is is it a Ponzi if they don't guarantee the 1% return?" (with apologies for penning it grammatically correct), your question doesn't make sense, hence not answering it. |
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meh, OGnasty robbed me and I'm the one with red trust for it.
the only thing to do is buy a crossbow and go hunting.
Yep thats how it happens here man. The real scammers get to scam lie literally commit crimes. and if your not in the "in crowd" of this shithole, or have taken any of them on from their stupidity then they all come at you like vultures. I have suchmoon ignored so not sure what she said up there, but she is also one of them. and she too has been involved in some unethical stuff in her past, Not super bad but enough that her opinion and trust abilities are not what she wants people to believe. But there again she has green trust, and she is even on the Default trusdt list just like Lauda. Also I read some of the posts about OG to, it is sad those kinds of people get away with manipulating this place and its "trust" ratings. But they are a team, I often have to wonder if they all split the income from the paid trolls income, or if they are all paid seperately. But just to be clear, my service is still in existance, after 2+ years, I have not scammed anyone outside those kind of peoples rationalizations that are biased at least, I have stolen nothing, squandered away nothing, and i make weekly payments to the member of the pool and have never been late, nor missed a payment for 2+ years. SO I let them go on and on and karma will eventually get all of them (hopefully at the same time) I do my job, I pay my members and I ignore their useless rants about nothing. In crypto ther eis always a risk of loss but there is a large difference between markets taking your funds and an owner operator or one of his associates of a service straight up stealing them. Funny how Leroy Fodor just so happened to gravitate to this thread, eh? It's almost like it's him being victimized. Further, did the retard crypto's number one serial liar - Leroy "Honestly" Fodor - just admit to scammy people? The last time I checked, those who have irrational biases are people too, but hey, I'm not versed as to what the fuck Leroy's been smokin' there in the Philippines, though I lean toward spent cigarette butts discarded by aliens who eat and smoke previously discarded cigarette butts which Leroy claims to have witnessed on myriad occasions outside his once sorry-ass Sari Sari-cum-largest bitcoin mining farm in all the Philippines prior to it being burnt to the ground by an arsonist because he was jealous of Leroy's prized cockfighters. I'll blow my fuckin brains out if you can't come up with at least 100 lies that Leroy Fodor has penned throughout the years documented in this UNLOCKED thread of mine enjoying ~300,000 views -> https://bitcointalk.org/index.php?topic=990219.0;topicseen "Then I told my dwindling StakeMiners Investard base about the time I had 380 consecutive successful Forex trades, selling the practice Forex account to purchase the largest bitcoin mining farm in all the Philippines complete with west-facing solar panels on a hot tine roof surrounded on three sides by towering coconut trees later dwarfed in size by the flames shooting pass their tippy-top leaves by a fire set by a jealous fellow cockfighter destroying my sorry-ass Sari-Sari, where thereafter nary a Bitcoiner on this USELESS forum helped me to recover, nor any of my sorry-ass Filipinos who I was kind enough to conduct free seminars teaching them how to be so fuckin' rich like me from starting with nothing to doing cryptocurrency faucets 24/7 to astute trading on the exchanges to getting a couple cheap miners, then building the farm all within three months or less. Now I brag to the world how my Investards are earning 6% a year on the bitcoins they have on account that I've already spent on Christmas gifts and maintaining the RateCoin website while trying to figure out how to get the fuck out the Philippines before President Rodrigo Duterte figures out my scammy ass and wants to take me for a ride on his helicopter." Allow me to clue you in, Bitcoin market analysis are useless and a bunch of crap, why because bitcoin has no demand other than its tradable market. No one wakes up with the urge to buy bitcoins, no one is compelled to buy bitcoins, and no one Needs to buy bitcoins, because of that it is logically impossible to make either a fundamental or technical analysis for it. Until a real demand for Bitcoins is created or used, An analysis is just a fancy pants wallstreet boy who wants to push the market in a direction he needs and he is using you to accomplish that HAHAHA
How do I know, I was a forex trader who made these very analysis for commodities trade advice. I had a 380 consecutive winning portfolio on my commodities trades, with a less than 1% loss on my lost trades. So i think i know whats involved in making these analysis HAHAHA Compared to now by Mr. Leroy "Forex" Fodor ... In crypto ther eis always a risk of loss but there is a large difference between markets taking your funds and an owner operator or one of his associates of a service straight up stealing them. Somebody needs to literally take a bat to this fucker and beat him to near death, allowing him to recover so to continue practicing one's swing. |
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Leroy, instead of spamming random threads with your nonsense, would you please respond in one of your threads regarding the 100+ BTC of investor funds that you pissed away? That sounds rather more important than your hard-on for Bruno. Please don't be teaching Leroy "Honestly" Fodor that "hard-on" incorporates a hyphen. He'll be penning the fuck outta that term in showing his minions how fuckin brilliant he is. HAHAHA Meanwhile, Leroy Fodor's StakeMiners paid out a whopping ~U$40 to 4 of its Investards - https://blockchain.info/tx/7f6bb3f8241ff2972abfa2af6f836ec0f8d276a73333e53548e109bc87c5fa6a - and that's if none of them four is directly connected to StakeMiners: The Most Profitable Cloud Mining Thingy in the World. |
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I'm guessing that this thread was created and periodically bumped by a user having sockpuppets who maintain sig campaigns. How close am I? <not flaunting my personal sig> Back on-topic, my best guess is that James Simons is behind the SN nym. https://www.youtube.com/watch?v=U5kIdtMJGc8 |
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Vernon later denied that he had stolen the funds, pointing a finger at hackers whom he alleged had struck the exchange over a several-year period. Come again! The hack occurred over a couple couple-hour period according to Paul Vernon's own words and proven via the blockchain. How the fuck was CoinDesk capable of getting this simple fact wrong? |
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Looks like crypto's number one serial liar is back: Unlike Leroy "Honestly" Fodor, EVERY fuckin post he penned that I deleted was archived somewhere on this USELESS forum. Leroy, I think you better concentrate on paying back those 122 BTC to your 180 Investards of StakeMiners, most of which posted negative reviews on its Facebook page ... My bad! Those have been deleted, leaving ONLY positive reviews penned by your mail-order wife, Katrina, family and redneck friends espousing what a wonderful dude you are. What now pisses me off the most about this posting is that I had to work prior to my first cup of coffee and taking my morning Zinck on my comfy porcelain throne. |
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When BitConnect's site was down, BCC volume was still high on nova exchange. To me that is the most telling sign that BitConnect has lasting power. It was also in one of Clif High's ALTA Reports. His note on those who call it a scam coin -
Note that the claim of 'scam coin' on BitConnect is due to its use, and manipulation by scammers, not any inherent design towards that end, at least as shows up in the data sets. It still shows long term. Not a screaming performer, but does have the legs to survive hyperinflation.
He also notes that linux geeks are all into it. And that there will be mini-linux OS powered devices.
They way I see BitConnect is that it's a self contained recycling system which will make it sustainable. It is also the most highly correlated alt coin to the Bitcoin price. The rise of the Bitcoin price and in turn, BitConnect coins has cemented its place among the top 20.
Everyone is using examples to try and come up with their version of "basic" math but let's simplify all the way:
Example:
It is March 2017. Bitconnect is $1. You want to make a $100 loan. So you buy $100 BCC for $100 and lend it out. During the 299 lock period, you receive your daily interest payment, on average of 1% and make $299 and the end of the loan period lasting until January 2018.
January 2018. You are due your principal back from your $100 loan. Let's assume today's BCC price is what it is in January 2018, so $135. You don't even receive 1 BCC coin in order to pay you back $100. You lent out 100 BCC! Who made that money? BitConnect did. They make money when you lend and lock up your funds into the platform. Then factor in that they staked those 100 BCCs for 10 months at 8% a month earning another 80 BCC. It's a juggernaut. At $135, the 100 BCCs are now worth $13,500 and the coins they staked are worth $10,800.
Now let's assume the price of BCC has fallen in half down to 50 cents. What would have happened?
You buy 100 BCC for $100 when it is $1. You make a $100 loan lending 100 BCC. During the 299 lock period, you receive your daily interest payment, on average of 1% and make $299 and the end of the loan period lasting until January 2018.
January 2018. You are due your principal back from your $100 loan. BCC is 50 cents. It will cost 200 BCC to pay you back. If BitConnect staked your 100 BCC they would have earned an additional 80 BCC and after paying you back they would have a loss of 20 BCC or $10. They can probably sustain a $10 loss after all the money they have made.
You're making this more complicated than it is. It doesn't make sense regardress of BCC price movement. $100 came into the platform and after 299 days, $399 needs to go out. From where does the extra $299 come? Unless they've made $299 through some sort of legitimate operation, it is unsustainable. Bitconnect cannot just print dollars, they have to come from somewhere. Unless there is another outside source, which there isn't, it's going to implode when withdrawals exceed deposits. Rumor has it that next year the Los Angeles Dodgers waterboy will be under a 5-year contract in earning a million dollars a years. I'm buying stock in the Dodgers thanks to its dramatically increasing equity appreciation. |
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