Can someone explain to me about Bitconnect Referall program? I just made an bitconnect account and my friend made one as well. so we brought in $1000 of btc each. and transferred it to BCC on bitconnect.co. when I signed up I put my friend as my sponsor. when my friend signed up he his sponsor box was already filled out with an name. so what I am asking is that. when I went to lent my bitconnect from my bitconnect wallet. my friend received my referral bonus into his lending wallet. but when my friend went to lend his BCC. I didn't get his referral bonus. why is that? I thought if I put my friend under as my sponsor, whenever we both lend BCC. that we both get the Referal bonus?
No, only the sponsor will receive the bonus.
The problem is his sponsor box was already filled out with a different name like you said. So THAT person is getting bonus from your friend.
PS: Quoting my previous post since noone has offered any useful feedback or response yet.
Hello bitcointalk forums. This is my first post here.
I'm not taking any sides in this discussion, but here to stir the pot.I really want to believe it's a ponzi scheme but some very smart people I know don't think so. (They did at first, but decided to investigate more)
Furthermore they drank the kool-aid themselves and are making money hand over fist every day so it's throwing my judgment off.
I've heard of Bitconnect being compared to the way fractional reserve investment banks operate in modern society:1) They lend and print out trillions of dollars when they have nowhere near the amount in reserved assets to back up their lending.
2) Even the largest banks can go insolvent if people decide they want their money suddenly.
3) Investment banks take investors capital and trade on exchanges using their own trading bots. This is no secret really.
4) Those banks make BILLIONS from trading bots while giving investors a small fraction of actual earnings.
5) There are actual bitcoin trading bots that earn 2-5% A DAY so the 1% average offered by bitconnect doesnt seem so far fetched to me.
- in this sense it seems bitconnect is offering a platform for people to earn returns in multiple ways:
- if youre not good at day-trading, you can lend liquidity to a bot which will in turn trade on your behalf. But if you're technical enough, you can run your own bot to potentially make even better returns.
- you can potentially earn more by holding coins, and this is part of the risk you take in lending out.I was also linked to this video by someone trying to explain how bitconnect is legit. Please give me your feedback:https://www.youtube.com/watch?v=W2HbinkSElM&t=8s
BUT this discovery is remarkable.
Shouldn't Bitconnect investors be alarmed by this and ask to have this addressed immediately?
Seems very risky, yet somehow equally rewarding.
is there any way I can my friend can change his SPONSOR to my name? or do you think he would have to make an new account?
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