Read one of Craig's masterpieces of intellectual insight here: http://www.blurb.com/books/5897599-now-01

Bitconnect are making lots of profit and don't need to be a Ponzi scheme. Yesterday their daily percentage rate was 0% and today 1.92%. Apparently, their bot was seen in action at some conference but they could have faked it. If they are from China, then it is unlikely they want to scam people in the same way Craig would. Craig should not be part of bitconnect as he is obviously unable to process reality. He has weird books out with phrases such as 'the need to help people is a reflection of low self-esteem' and it is obvious the only thing he thinks exists is himself and only thinks about obtaining money from others. His lack of object constancy is amazing but normal for psychopaths (they literally only think things exist when they see them - including other people - and disappear from reality when they are not there). You can't really blame him as it's genetically determined in his case.

https://www.youtube.com/watch?v=lt7eNYTDv0w


https://www.youtube.com/watch?v=cmU3x5_Znuc


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

Well their exchange was actually down for a couple of hours due to the 10% volatility thing but not sure what time it was. Saw someone on youtube mention it was down and he also said it's common in real stock markets for them to do the same (but for larger falls than 10%).


They are paying off their detractors now lol: https://www.youtube.com/watch?v=nKFDKgGngzo  (maybe Gleb can ask for 2BTC too)

Someone mentioned on this thread earlier how well it tracks bitcoin....well look at this graph from coinmarketcap. Those Chinese must be as clever as everyone says to be able to do that (it's almost a straight line if you look at the BTC value but the volume was greater than usual): https://snag.gy/jRFUZ9.jpg

https://snag.gy/wYxcXt.jpg

Very strange.....that is actually the graph on their own exchange....

Something weird happened: https://coinmarketcap.com/currencies/bitconnect/#charts   (look at 1  day graph)

Volume increased dramatically and selling and buying going on.....maybe some experiment?


Anyway, people need to realise that there are a lot of elements to their system that aren't obvious at first glance. True, if people compound for 299 days they get 20x their principle investment (still slower than current bitconnect growth in same period of 1000x by a large margin) but without compounding it is only 4x the amount invested and obviously compounding locks up the added funds for another 299 day period each time. What percentage of people would be reinvesting so much once they have a decent amount invested (after compounding for 10 months, they would be getting 6 times their initial investment every month in interest)?

Another point is that bitconnect can pay as little as ZERO percent for lower deposits (which means people wouldn't be reinvesting and compounding on interest amounts below $1010) and only guarantees 0.1% on amounts over $1010, going up to 0.25% bonus for the higher levels of investment. This means that people wouldn't be compounding any more once bitconnect growth slows and they pay a more sustainable interest rate of 0.1% per day (which is still around 40% in a year, and compounding hardly makes a difference at those levels). The value in bitconnect is that they GUARANTEE the deposits, and their setup makes it possible for them to achieve that aim. It reduces customer risk of any fluctuations in bitcoin or other token prices and protects their capital investment. If a company decided to create a similar service and marketed it in a more serious way, then I'm sure it would be popular. As an example, bitcoin is likely to crash to around $2000 before rising to around $20,000 so it is much safer if there was such a service that shared the growth in the price for people who do not want to ride all those cycles and guarantee their capital (since they seem to have most of the BCC tokens and can prevent any major crashes, they just need to simply hold them as collateral at the time of each loan and then pay them a share as daily interest from the predicted growth of their own token). The bottom line is that so far they have generated huge profits which holds them in good stead for the future.

https://www.youtube.com/watch?v=czFKhiXf7Oc

Says he's 17 now but there is no age limit for buying bitcoins (as he had a coinbase account at that age which is regulated but they recently changed their policy: https://support.coinbase.com/customer/en/portal/articles/2034490-can-i-open-a-coinbase-account-if-i-m-under-18-?b_id=13521) and you can buy them at localbitcoins or some other exchanges at any age as I don't think bitcoin cares (you could ask bitcoin but don't think you'd get a reply).

So doubt it is illegal if he wants to lend some of his digital tokens to a 'lending bot', and it's a bit late now to ban him if he's invested etc.
 

Gleb, bitconnect doesn't require people to use their real names according to their faq section... the section you quoted contradicts that. But also what private information do you mean, because someone's username is the same as their referral link name so it's hardly private.

The bitconnect and bitcoin addresses on the platform when logging in are not shown on the account pages and are not the same each time. You literally have to press the deposit button for the address to come up (and sometimes it says the address is unavailable as I've shown before when they've had problems creating addresses). So the address for deposits probably change regularly and are not the same each time. They are never shown on the account pages except when someone clicks the deposit buttons. That is when an address is shown but I don't know how permanent they are.




UPDATE: Just saw someone post this in the comments to the 'glitch' fiasco on their site

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=6m3Fks8liUw


Don'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=Kev6On0qs0M

Guys, something I just realised. I should have known this already, but it's true that on average the value of BCC has been doubling every month....obviously this can't really carry on forever can it or it will rival bitcoin soon (like within 6 months)? Currently the loan system I estimated doubles people's investments in 3 months (three times slower rate) BUT that is without reinvesting.....  it actually only takes 70 days to double if people reinvest their interest each day (the minimum re-investment is $10 although initial must be $100 I think). 

I forgot about the power of compound interest. Obviously this creates daily new investments that will take 299 days to mature, but investing $100 will actually turn into more than $1900 in 299 days (about ten months)so 19x whatever you invest assuming an average 1% daily interest. Obviously the coin would be worth 1000x its current value if it doubles every month for 10 months (not including monthly 8% staking interest) so it's safe to assume it will probably not grow that fast. It seems crazy to say that 19 times your investment in 10 months (most of it not matured as it is reinvested but will create massive daily interest) is less profitable than staking the coin. So maybe the compound interest aspect will make reinvesting the best option for people with less than $1000 to start with.

Bitconnect don't actually need any BTC but apparently it's their business model to hold some. I keep seeing this magic bitconnect BTC address that somehow holds all their bitcoin, but does that mean customers on their platform do not have separate addresses for their own deposits, which ostensibly they do? Bitconnect don't actually need to hold any bitcoin for their system but I am guessing they are major buyers of it on their exchange to make money from the trading and they also would preferably need collateral for the loans. Their market cap is actually over $1billion (I just realised that coinmarketcap doesn't include the million BCC they are reserving from the supply) and despite obviously losing millions potentially in the recent security glitch, don't seem to have any problems carrying on as normal afterwards.

People don't realise that they have huge reserves of BCC and loan customers don't actually care how high BCC is when buying the token as it is always converted into dollars. The coin stakers will also be holding and not selling. I think they pay affiliates with the knowledge that their coin rises faster than the high inflation rate of their coin and the 8% current monthly staking interest can be set aside from lending accounts for the affiliate payments (even though they only need to pay affiliates once per lend amount, they get the 8% staking reward every month) and for every BCC that is lent out and converted to dollars, their reserve is also growing exponentially (remember they always pay back less to customers who lend but the reserve grows 8% monthly automatically too). I don't think there is really any limit to the price of BCC and their profits are huge so far so their token definitely has value (have you seen how low the total supply is too compared to some as it's only in the low millions currently but set to grow to 28 million). I also was impressed with the speed of the transactions. They plan to have a debit card linked to the account (they call it a smart card) next month or so. Also the coin has proven to beat their high inflation rate by a big margin (this supply inflation rate will obviously reduce and stops completely in December 2019 so then the coin should go up in price even faster assuming the same growth).

Bitconnect must have lots of liquidity in their token compared to many others...they have a large market cap and can be traded on quite a few exchanges now (the price of the coin never really matters to investors doing the loans, only those staking the coin). People must see the value in their service of guaranteeing their investment and sharing profits etc but obviously it seems like a scam at first glance but as long as customers are willing to buy BCC tokens at higher and higher prices, then they will continue to profit on the loans system. I don't know much about onecoin (some defenders on youtube seem a bit crazy btw lol) but from what I saw it was just using MLM marketing and doesn't need funds from new investors to survive but just sells some dodgy educational courses and pays some commission in some private token of increasing value that is currently inside their platform only (some reps were jailed I think for dodgy selling techniques too). Apparently the coin is meant to be made public next year. It's obvious why most people into crypto would be against it in the first place as it is centralised. What I thought strange about some bad reviews is that they saw their strict KYC policies as a bad thing as people can't log in before sending documents etc!

Yeah I'm rambling a lot today but basically bitconnect are a decentralised cryptocurrency with quite high staking rewards (8% per month) and don't seem to be in any financial difficulty as they have profited a lot from the loan rates and should be able to keep collateral and guarantee the loans in cases of crashes in their token price. Their business model seems sound to me. I was also impressed with how fast the coin is to send and receive.

Some people are also against any MLM business. It's simply a way to acquire customers at a quicker rate. It's only a Ponzi if it requires new investment from others to pay older users (I even looked into onecoin and all the bad press but they are also just selling a product and paying commission and don't need new investors to survive - they also have very strong KYC policies for members before they can log in etc unlike decentralised coins - until I looked into it I thought it had shut down but has been going on for years with no convictions despite claims they are a front for criminals etc and the owner being very public and even stating she wants it to become a public company- I actually know little about it but was surprised when I looked a bit that they don't need new money from investors to survive at all so can't be a Ponzi really but let's not talk about onecoin - oops hadn't read this story yet: https://themerkle.com/luxembourg-regulators-warn-the-public-about-the-onecoin-ponzi-scheme/   just reading it now ....but funny how all the stories talk about Ponzi lol ok read it now but just seems like one of those over the top stories but apparently it has new owners...haha look at this....https://youtu.be/hgde7sxAcvo?t=6 he also says if it is on coinmarketcap and has a big market cap then it isn't a scam basically lol ).


Bitconnect, apart from all their reserves, also probably can afford to keep collateral for all the loans in bitcoin since the customers do sell the bitcoin in the exchange first (in most cases to get the BCC for the loans) but as bitconnect are already holding the BCC for free, they might as well also hold the same amount in BTC as it really doesn't cost anything more and it is likely to go up in value so they can also profit from that too. They are already holding the customer's BCC temporarily (even if it goes down in value, they simply have to pay a bit more from their reserves when exchanging the dollars and remember they would have built up enough profits, anyway).

I'm not so sure about this coin..... http://www.presstab.pw/phpexplorer/EMB/address.php?address=eGqV1feEy8xpectSzVHKGUcqcpKj1cxevH

That was the top guy on the rich list...sold a ton at the top.....   I'm still confused about the project tbh

Looked at some random posts from much earlier on this thread. Apparently someone was talking to the developers and they were Chinese (I had a feeling they were - they are even cleverer than Gleb overall). Also he wanted to sell his 1500 coins but someone warned him that it had potential and might get to $10 (ten dollars!!) by the end of the year and it wasn't a good idea to sell  SERIOUSLY THAT WOULD GET HIM ABOUT $2K A DAY NOW IN INTEREST IF HE LENT IT ON THE PLATFORM (1500 coins are now worth around $200K)




Or even $5 this year hehe



This ICO was less than $1, though. Up to 1400 per bitcoin when bitcoin was low.

The profits they are sharing from the price increase may just be part of it (I'm sure they could profit on their exchange too with a bot), but obviously if the coin crashes only the lenders should be guaranteed which I already explained how they should do it as they have both the bitcoin for collateral (if they are majority buyers of it on the exchange with their BCC) and also the BCC that customers give up to them temporarily when they lend. There is nothing guaranteeing the investment of any coin holders in the crypto world but at least their system should guarantee the capital (useful for crypto investors who want to guarantee their capital and possible interest). The fact is they do not need new money coming in to pay off all their liabilities. The profits they are making should also stand them in good stead for the future.

If they say how much is owed we could add it up.....  people have plenty of time to return it. It's interesting they mention BCH as that was just a simple wallet with no possibility of exchanging the funds for anything else and haven't heard about any problems with it but it's possible it had some glitch too.

I still have the same BTC amount invested in it plus the BTC I paid originally returned to me so I can't lose now.

Slightly off topic but I had to navigate two Announcement threads to get to this one...... I bought a quantity at 2450 satoshi and set a sell order for half of the coins 0.00004900.....just checked bittrex and now I have the investment back from the doubling of the value......  plus I managed to sell at the actual high point of the day to the exact satoshi value. Maybe I'm just lucky lol.

Maybe we should have sold yesterday though and bought more at $20 ....