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harimauagam
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August 24, 2017, 06:23:39 AM |
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Please explain now the address of the investor, now the people who are here keep asking about it, and maybe I will not be able to help answer all questions they ask and I thank you.
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preda
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August 24, 2017, 06:24:32 AM |
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Hi guys..
There is a calculator for understand how many coins i can mine and at what speed...
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AGM76
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August 24, 2017, 06:40:59 AM
Last edit: August 24, 2017, 07:00:26 AM by AGM76 |
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Isn't it possible they could carry on going due to the two methods of earning (one ostensibly in the coin and one out of it)? There are two methods of earning. One is invested in a fixed USD value of BCC and having it locked away and getting high 30% monthly interest (which they can probably actually get from a bot as they will know in advance of other traders on their exchange of the volumes as they will see the pending BTC deposits to them etc that are soon to be used to purchase BCC so they will naturally get their bot to prepump as needed and take profits)... the other is this staking or 8% monthly interest and declining every 6 months..... people would be tempted at the prospect of being able to withdraw at any time but the latter is the more risky technically cos the coin could crash in value. Maybe they can make it carry on through these crashes and pay back all investors who lent them the coin and are not invested in the actual coin and for only the coin holders to lose out during this crash. Affiliates are probably paid about 10% of all deposits and reinvested deposits but if this bot can make 1% a day from knowing in advance what people move into BCC and from which wallets (moving from the lending wallet to BCC is a sure sign they want to sell and a pending BTC deposit is also a sign a similar buy amount is imminent and so too a pending BCC deposit would indicate a possible sell with less certainty etc and it's interesting how they make people move interest payments into BCC which would need them to move it before withdrawing rather than putting the amount there in the first place as they would prefer reinvestment but also would help such a bot)... then this 1% a day might be doable and they can choose to pay nothing on some days as they have done so already.
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preda
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August 24, 2017, 07:56:57 AM |
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Isn't it possible they could carry on going due to the two methods of earning (one ostensibly in the coin and one out of it)? There are two methods of earning. One is invested in a fixed USD value of BCC and having it locked away and getting high 30% monthly interest (which they can probably actually get from a bot as they will know in advance of other traders on their exchange of the volumes as they will see the pending BTC deposits to them etc that are soon to be used to purchase BCC so they will naturally get their bot to prepump as needed and take profits)... the other is this staking or 8% monthly interest and declining every 6 months..... people would be tempted at the prospect of being able to withdraw at any time but the latter is the more risky technically cos the coin could crash in value. Maybe they can make it carry on through these crashes and pay back all investors who lent them the coin and are not invested in the actual coin and for only the coin holders to lose out during this crash. Affiliates are probably paid about 10% of all deposits and reinvested deposits but if this bot can make 1% a day from knowing in advance what people move into BCC and from which wallets (moving from the lending wallet to BCC is a sure sign they want to sell and a pending BTC deposit is also a sign a similar buy amount is imminent and so too a pending BCC deposit would indicate a possible sell with less certainty etc and it's interesting how they make people move interest payments into BCC which would need them to move it before withdrawing rather than putting the amount there in the first place as they would prefer reinvestment but also would help such a bot)... then this 1% a day might be doable and they can choose to pay nothing on some days as they have done so already.
So what is your opinion? I'm puttin 1050 usd investing on bitconnect.. i like it and i believe them... Probably they thought to make a ponzi scheme at the beginning but now... their coin growth they didn't expect this and probably now they are in business and they will continue to do it. |
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2072
Newbie
 Offline
Activity: 8
Merit: 0
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August 24, 2017, 08:15:50 AM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... |
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preda
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August 24, 2017, 08:22:02 AM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... When you reinvest it does add to your initial investment?? There are many YouTubers showing that they every day put the reinvest on their initial investment. You confusing me bro🤔 |
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raynman
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August 24, 2017, 09:52:29 AM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... When you reinvest it does add to your initial investment?? There are many YouTubers showing that they every day put the reinvest on their initial investment. You confusing me bro🤔 2072 is right. Each reinvestment (minimum $10) is considered a separate loan to the trading bot with its own capital release date. There will be a lot of transactions in your lending wallet if you keep reinvesting small amounts everyday. |
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bitconnect-worldwide
Newbie
Offline
Activity: 33
Merit: 0
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August 24, 2017, 10:14:08 AM |
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it still counts as compounding interest because at the end of the day you still have the money in your lending wallet where the interest for the next day is calculated if you reinvest
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AGM76
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August 24, 2017, 10:37:52 AM
Last edit: August 24, 2017, 10:54:44 AM by AGM76 |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... I was just suggesting that they may not be totally honest on their lending bot. The fact they claim to use it on different pairs (which they might also try) doesn't mean they aren't doing it on their exchange. Is it even possible for them to make money on their own exchange as I think it would be if they knew the likely sell and buy volumes before everyone else? Also the fact they mention volatility on the BCC/BTC pair on their circuit breaker statement is also a clue. It's interesting they already thought of this before any such problem occurred. Secondly, they started out early last year with no alt coin and were simply a peer to peer bitcoin lending platform (as far as I understand it) but still incorporated the same MLM structure which goes against the Ponzi and pump and dump claims to be honest, as they added all the alt coin stuff more recently and were simply into bitcoin and MLM isn't anything obviously suspect unless you are looking for problems like that (confirmation bias etc). They seem to have come from philippines and you can see photos here of meetings and MLM type promotion (which is totally normal and legal) before anything Ponzi-like existed for them: https://bitconnect.co/system-news/12/first-successful-bitconnect-seminar-by-bc-promoters/ (if you change the number from 12 you can see other news that is mostly hidden now). Finally, there seems to be a con on their 'bcc lending'. They are not in fact giving you interest on your BCC you 'lent' but on your USD amount. You don't even get your BCC back after the capital release let alone recoup it after 90 days if that is the average time for your daily interest to return your capital unless you make sure you transfer it into BCC as much as possible (say if you invested 1 BCC to lend and the price then triples in three months, you can see how if the interest is reinvested or is kept in the lending account in USD the interest hardly covers this growth and although you will have your investment back they give you only a third of your BCC back going by the USD in the lending wallet if the price triples in that 90 days so you are actually lending the USD amount). So the capital release might technically give you the same USD amount after 6 months or 8 months etc but if the price has tripled you are only getting 0.33 times the BCC you initially 'lent'. Obviously this means that if the price of BCC goes up, the capital isn't really as much of a problem for them to repay as you might think. |
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AGM76
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August 24, 2017, 11:26:11 AM
Last edit: August 24, 2017, 11:42:27 AM by AGM76 |
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By the way, I changed the news number to 11 and saw they were initially just a peer to peer lending site with MLM in March 2016...it seemed to let people lend and request their bitcoins back. https://bitconnect.co/system-news/11/finally-the-waiting-is-over-the-dispatcher-is-switched-onMoving on to now in August 2017 with an alt coin etc....I don't think their system has much of an inherent problem. The fact that people 'lending' the coin may not even get as much interest as just holding the coin (as evidenced on the exchange) and that they can change the interest payments on this so-called lending means they probably aren't going to have that much problem paying. They can even dump the coins on the exchange so only the coin holders lose out. When the coin holders lose, the lenders win and vice versa. That's how I see it, anyway. Also, if BCC price starts falling, people will be tempted again to lend rather than hold or sell, which further locks away the coin from being sold and allows the growth to restart etc and remember they can always control the rate of interest for the lent coins so they can actually return them less coins than they lent if the price more than triples in a few months etc. |
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Gleb Gamow
In memoriam
VIP
Legendary
Offline
Activity: 1428
Merit: 1145
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August 24, 2017, 03:01:36 PM |
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Nice to see Gleb here bad or good publicity is still a publicity it will add excitement and keeps this thread alive by being here but you are not the first and you are not going to be the last one, in their ico stage people posted that it will not go for a month and it will easily go dead, but they are over a year now and getting stronger ..
And beside until now nobody loses a single cent and like all the other are saying it's their money
So, what you're saying is that even though I know firsthand that using BENGAY® as a lubricant to jack off is a bad idea, I shouldn't inform anybody of the consequences, eh? People here are not idiot and ignorant some of them are investing and trading for a long time they know the risk nobody is investing in one coin only so don't tell us what to invest where to invest I lose a lot of investment and gain some because this is how crypto currency works you don't have to tell me using BENGAY® as a lubricant to jack off is a bad idea, and for your info Bitconnectcoin started at $1.30 this is the new stat $129.62 (7.14%) 0.03092500 BTC (4.94%) no no no, you just gave away that you are using 2 sock-puppet accounts to spread your mischief Quoting this for future reference. If you're talking about me having 2 sockpuppets (above), you're sadly mistaken. But if you are, and theymos can verify it, then he has my permission to ban ALL my users accounts on this forum, whereupon my ass would be grass in ALL the crypto space. If you're talking about one of the other two users, I will weigh-in accordingly if I see what you supposedly see. At the moment I'm at a lost, with apologies. |
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YGung
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August 24, 2017, 05:30:08 PM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... I was just suggesting that they may not be totally honest on their lending bot. The fact they claim to use it on different pairs (which they might also try) doesn't mean they aren't doing it on their exchange. Is it even possible for them to make money on their own exchange as I think it would be if they knew the likely sell and buy volumes before everyone else? Also the fact they mention volatility on the BCC/BTC pair on their circuit breaker statement is also a clue. It's interesting they already thought of this before any such problem occurred. Secondly, they started out early last year with no alt coin and were simply a peer to peer bitcoin lending platform (as far as I understand it) but still incorporated the same MLM structure which goes against the Ponzi and pump and dump claims to be honest, as they added all the alt coin stuff more recently and were simply into bitcoin and MLM isn't anything obviously suspect unless you are looking for problems like that (confirmation bias etc). They seem to have come from philippines and you can see photos here of meetings and MLM type promotion (which is totally normal and legal) before anything Ponzi-like existed for them: https://bitconnect.co/system-news/12/first-successful-bitconnect-seminar-by-bc-promoters/ (if you change the number from 12 you can see other news that is mostly hidden now). Finally, there seems to be a con on their 'bcc lending'. They are not in fact giving you interest on your BCC you 'lent' but on your USD amount. You don't even get your BCC back after the capital release let alone recoup it after 90 days if that is the average time for your daily interest to return your capital unless you make sure you transfer it into BCC as much as possible (say if you invested 1 BCC to lend and the price then triples in three months, you can see how if the interest is reinvested or is kept in the lending account in USD the interest hardly covers this growth and although you will have your investment back they give you only a third of your BCC back going by the USD in the lending wallet if the price triples in that 90 days so you are actually lending the USD amount). So the capital release might technically give you the same USD amount after 6 months or 8 months etc but if the price has tripled you are only getting 0.33 times the BCC you initially 'lent'. Obviously this means that if the price of BCC goes up, the capital isn't really as much of a problem for them to repay as you might think. And that 'con' is the thing that makes it somewhat reasonable that they could pay people back assuming tons of reinvestment. BCC is steamrolling price wise, it's like they're gradually locking in liquidity. Its a pretty stable coin in that regard. |
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Gleb Gamow
In memoriam
VIP
Legendary
Offline
Activity: 1428
Merit: 1145
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August 24, 2017, 06:34:45 PM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... I was just suggesting that they may not be totally honest on their lending bot. The fact they claim to use it on different pairs (which they might also try) doesn't mean they aren't doing it on their exchange. Is it even possible for them to make money on their own exchange as I think it would be if they knew the likely sell and buy volumes before everyone else? Also the fact they mention volatility on the BCC/BTC pair on their circuit breaker statement is also a clue. It's interesting they already thought of this before any such problem occurred. Secondly, they started out early last year with no alt coin and were simply a peer to peer bitcoin lending platform (as far as I understand it) but still incorporated the same MLM structure which goes against the Ponzi and pump and dump claims to be honest, as they added all the alt coin stuff more recently and were simply into bitcoin and MLM isn't anything obviously suspect unless you are looking for problems like that (confirmation bias etc). They seem to have come from philippines and you can see photos here of meetings and MLM type promotion (which is totally normal and legal) before anything Ponzi-like existed for them: https://bitconnect.co/system-news/12/first-successful-bitconnect-seminar-by-bc-promoters/ (if you change the number from 12 you can see other news that is mostly hidden now). Finally, there seems to be a con on their 'bcc lending'. They are not in fact giving you interest on your BCC you 'lent' but on your USD amount. You don't even get your BCC back after the capital release let alone recoup it after 90 days if that is the average time for your daily interest to return your capital unless you make sure you transfer it into BCC as much as possible (say if you invested 1 BCC to lend and the price then triples in three months, you can see how if the interest is reinvested or is kept in the lending account in USD the interest hardly covers this growth and although you will have your investment back they give you only a third of your BCC back going by the USD in the lending wallet if the price triples in that 90 days so you are actually lending the USD amount). So the capital release might technically give you the same USD amount after 6 months or 8 months etc but if the price has tripled you are only getting 0.33 times the BCC you initially 'lent'. Obviously this means that if the price of BCC goes up, the capital isn't really as much of a problem for them to repay as you might think. And that 'con' is the thing that makes it somewhat reasonable that they could pay people back assuming tons of reinvestment. BCC is steamrolling price wise, it's like they're gradually locking in liquidity. Its a pretty stable coin in that regard. |
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jravago
Full Member
Offline
Activity: 210
Merit: 100
Without Risk there is no Success - jravago.com
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August 24, 2017, 06:46:00 PM |
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By the way, I changed the news number to 11 and saw they were initially just a peer to peer lending site with MLM in March 2016...it seemed to let people lend and request their bitcoins back. https://bitconnect.co/system-news/11/finally-the-waiting-is-over-the-dispatcher-is-switched-onMoving on to now in August 2017 with an alt coin etc....I don't think their system has much of an inherent problem. The fact that people 'lending' the coin may not even get as much interest as just holding the coin (as evidenced on the exchange) and that they can change the interest payments on this so-called lending means they probably aren't going to have that much problem paying. They can even dump the coins on the exchange so only the coin holders lose out. When the coin holders lose, the lenders win and vice versa. That's how I see it, anyway. Also, if BCC price starts falling, people will be tempted again to lend rather than hold or sell, which further locks away the coin from being sold and allows the growth to restart etc and remember they can always control the rate of interest for the lent coins so they can actually return them less coins than they lent if the price more than triples in a few months etc. So now you know that they control the price and will stop the buy and dump scheme. Why are you still skeptical about BCC? We all know someone or a group of people controlling price of BTC and other coins for transaction fees generated. It doesn't matter where they came from, if they came from the Philippines or in US. We are in crypto world were no gov't is responsible for it. All of us are relies on speculations. |
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ChromaticStar
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August 24, 2017, 07:03:16 PM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... I was just suggesting that they may not be totally honest on their lending bot. The fact they claim to use it on different pairs (which they might also try) doesn't mean they aren't doing it on their exchange. Is it even possible for them to make money on their own exchange as I think it would be if they knew the likely sell and buy volumes before everyone else? Also the fact they mention volatility on the BCC/BTC pair on their circuit breaker statement is also a clue. It's interesting they already thought of this before any such problem occurred. Secondly, they started out early last year with no alt coin and were simply a peer to peer bitcoin lending platform (as far as I understand it) but still incorporated the same MLM structure which goes against the Ponzi and pump and dump claims to be honest, as they added all the alt coin stuff more recently and were simply into bitcoin and MLM isn't anything obviously suspect unless you are looking for problems like that (confirmation bias etc). They seem to have come from philippines and you can see photos here of meetings and MLM type promotion (which is totally normal and legal) before anything Ponzi-like existed for them: https://bitconnect.co/system-news/12/first-successful-bitconnect-seminar-by-bc-promoters/ (if you change the number from 12 you can see other news that is mostly hidden now). Finally, there seems to be a con on their 'bcc lending'. They are not in fact giving you interest on your BCC you 'lent' but on your USD amount. You don't even get your BCC back after the capital release let alone recoup it after 90 days if that is the average time for your daily interest to return your capital unless you make sure you transfer it into BCC as much as possible (say if you invested 1 BCC to lend and the price then triples in three months, you can see how if the interest is reinvested or is kept in the lending account in USD the interest hardly covers this growth and although you will have your investment back they give you only a third of your BCC back going by the USD in the lending wallet if the price triples in that 90 days so you are actually lending the USD amount). So the capital release might technically give you the same USD amount after 6 months or 8 months etc but if the price has tripled you are only getting 0.33 times the BCC you initially 'lent'. Obviously this means that if the price of BCC goes up, the capital isn't really as much of a problem for them to repay as you might think. And that 'con' is the thing that makes it somewhat reasonable that they could pay people back assuming tons of reinvestment. BCC is steamrolling price wise, it's like they're gradually locking in liquidity. Its a pretty stable coin in that regard. I tried for about a month to convince people on this forum that this is a massive ponzi. No one would listen. This is a cult, and the only was to convince someone that their cult religion is fake is for it to collapse on its own. I asked some serious questions and thought provoking questions. You can read them here: This is a list of questions I've asked over the last few pages, that no one, especially Bitconnect, seems to be able to answer: Who is Satao Nakamoto? He is apparently the lead developer of this platform, yet we have next to nothing on him. Not even a LinkedIn profile or even a photo of him on his Facebook. Who are the other developers? Where is the whitepaper? Is it so proprietary that it can't be released? Where is the money everyone is making coming from? Supposedly you make money by staking it with a "volatility bot" that makes money through some sort of algorithmic trading program. Where is the volatility program arbitraging its earnings from? What exchange is it trading on? How is there never a loss? You make money every single day, there's never a day where you lose money. Why do they need their own coin? You don't need a coin to run a trading bot. Especially since they claim to be trading the BTC/USD pair, they should be staking BTC not their own BCC coin. Is there any independent information worth verifying? Would Bitconnect allow an independent third-party financial audit from a firm like Friedman LLP who recently audited Bitfinex? Who's the CEO of Bitconnect. Here's Yuris Prasetya, part of Bitconnect's team: https://www.youtube.com/watch?v=EVxLbvD-734 Here he's promoting OneCoin, which was recently declared a Ponzi scheme by Indian authorities. Why should we believe he's not trying to promote a new ponzi? This is OneCoin on steroids. There will be huge losses, already approaching a billion. They've starting running ads on Facebook and Coinmarketcap. The only thing that is going to take this down is if the SEC takes action against Bitconnect, since they are already breaking US securities law, or investors start to flee. It's probably part of the reason that Bitconnect is the only exchange to have circuit breakers. Once the run on them begins, they'll stop trading due to "volatility" and more of the newb defenders here will just say "it's expected because...." It's obvious that the price of BCC is manipulated, look how low volatility is on their exchange. No other cryptocoin trades like that. Bitconnect isn't staking your BCCs, they're just selling them on their own exchange to new buyers. I've pretty much given up trying to push people away from this ponzishitcoin. I can't wait for it to implode though. |
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Craftou
Newbie
Offline
Activity: 2
Merit: 0
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August 24, 2017, 07:07:25 PM |
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Hello
The site is often in error 502 or other, it is not very serious for an exchange site.
So I would like to know why there is so much connection error please?
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bambarmia
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August 24, 2017, 07:16:08 PM |
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I'd just like to point a few claimed "facts" to keep this thread from going into too many divergent conjectures (of course we don't have any proof) : 1. Their trading bot is supposed to be trading BTC against USD and USD against other FIAT and doesn't operate on their own exchange as is stated on their trading bot announcement page: https://bitconnect.co/system-news/21/good-news-for-bitcoiners-who-loves-the-profit-the-bitconnect-price-volatility-software-in-place2. They have a built-in anti-crisis protection system (volatility based circuit breaker): https://bitconnect.co/bitcoin-information/27/what-is-volatility-based-circuit-breaker3. The crazy compound interest calculations often forget to take into account that: - Each reinvestment is a new one (it doesn't add to the previous one) - Each reinvestment is locked down for a predetermined numbers of day so that most of the wealth remains mostly virtual and the only "guaranty" is a variable daily interest earning based on your total investment. Most Ponzi are only revealed in major crisis situations when too many people start selling at the same time but as long as this doesn't happen the Ponzi is a very successful operation that can last for many years... I was just suggesting that they may not be totally honest on their lending bot. The fact they claim to use it on different pairs (which they might also try) doesn't mean they aren't doing it on their exchange. Is it even possible for them to make money on their own exchange as I think it would be if they knew the likely sell and buy volumes before everyone else? Also the fact they mention volatility on the BCC/BTC pair on their circuit breaker statement is also a clue. It's interesting they already thought of this before any such problem occurred. Secondly, they started out early last year with no alt coin and were simply a peer to peer bitcoin lending platform (as far as I understand it) but still incorporated the same MLM structure which goes against the Ponzi and pump and dump claims to be honest, as they added all the alt coin stuff more recently and were simply into bitcoin and MLM isn't anything obviously suspect unless you are looking for problems like that (confirmation bias etc). They seem to have come from philippines and you can see photos here of meetings and MLM type promotion (which is totally normal and legal) before anything Ponzi-like existed for them: https://bitconnect.co/system-news/12/first-successful-bitconnect-seminar-by-bc-promoters/ (if you change the number from 12 you can see other news that is mostly hidden now). Finally, there seems to be a con on their 'bcc lending'. They are not in fact giving you interest on your BCC you 'lent' but on your USD amount. You don't even get your BCC back after the capital release let alone recoup it after 90 days if that is the average time for your daily interest to return your capital unless you make sure you transfer it into BCC as much as possible (say if you invested 1 BCC to lend and the price then triples in three months, you can see how if the interest is reinvested or is kept in the lending account in USD the interest hardly covers this growth and although you will have your investment back they give you only a third of your BCC back going by the USD in the lending wallet if the price triples in that 90 days so you are actually lending the USD amount). So the capital release might technically give you the same USD amount after 6 months or 8 months etc but if the price has tripled you are only getting 0.33 times the BCC you initially 'lent'. Obviously this means that if the price of BCC goes up, the capital isn't really as much of a problem for them to repay as you might think. And that 'con' is the thing that makes it somewhat reasonable that they could pay people back assuming tons of reinvestment. BCC is steamrolling price wise, it's like they're gradually locking in liquidity. Its a pretty stable coin in that regard. I tried for about a month to convince people on this forum that this is a massive ponzi. No one would listen. This is a cult, and the only was to convince someone that their cult religion is fake is for it to collapse on its own. I asked some serious questions and thought provoking questions. You can read them here: This is a list of questions I've asked over the last few pages, that no one, especially Bitconnect, seems to be able to answer: Who is Satao Nakamoto? He is apparently the lead developer of this platform, yet we have next to nothing on him. Not even a LinkedIn profile or even a photo of him on his Facebook. Who are the other developers? Where is the whitepaper? Is it so proprietary that it can't be released? Where is the money everyone is making coming from? Supposedly you make money by staking it with a "volatility bot" that makes money through some sort of algorithmic trading program. Where is the volatility program arbitraging its earnings from? What exchange is it trading on? How is there never a loss? You make money every single day, there's never a day where you lose money. Why do they need their own coin? You don't need a coin to run a trading bot. Especially since they claim to be trading the BTC/USD pair, they should be staking BTC not their own BCC coin. Is there any independent information worth verifying? Would Bitconnect allow an independent third-party financial audit from a firm like Friedman LLP who recently audited Bitfinex? Who's the CEO of Bitconnect. Here's Yuris Prasetya, part of Bitconnect's team: https://www.youtube.com/watch?v=EVxLbvD-734 Here he's promoting OneCoin, which was recently declared a Ponzi scheme by Indian authorities. Why should we believe he's not trying to promote a new ponzi? This is OneCoin on steroids. There will be huge losses, already approaching a billion. They've starting running ads on Facebook and Coinmarketcap. The only thing that is going to take this down is if the SEC takes action against Bitconnect, since they are already breaking US securities law, or investors start to flee. It's probably part of the reason that Bitconnect is the only exchange to have circuit breakers. Once the run on them begins, they'll stop trading due to "volatility" and more of the newb defenders here will just say "it's expected because...." It's obvious that the price of BCC is manipulated, look how low volatility is on their exchange. No other cryptocoin trades like that. Bitconnect isn't staking your BCCs, they're just selling them on their own exchange to new buyers. I've pretty much given up trying to push people away from this ponzishitcoin. I can't wait for it to implode though.
I totally agree with you. |
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2072
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August 24, 2017, 07:35:32 PM |
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What happened a few days ago with their android app is kind of weird: they apparently removed it from the Play Store due to logo issues. Now if you try to open the app it tells you to update to the new "ABC" version redirecting you to an inexistant play store id... You can't use the app anymore. Why couldn't they just push an update without the logo instead of disabling the app? Very strange... or was their app removed for some other reason?
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Gleb Gamow
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August 24, 2017, 07:58:08 PM |
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What happened a few days ago with their android app is kind of weird: they apparently removed it from the Play Store due to logo issues. Now if you try to open the app it tells you to update to the new "ABC" version redirecting you to an inexistant play store id... You can't use the app anymore. Why couldn't they just push an update without the logo instead of disabling the app? Very strange... or was their app removed for some other reason?
Shit's about to hit the fan before this weekend. HAHAHA |
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bitconnect-worldwide
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August 24, 2017, 08:27:02 PM |
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Shit's about to hit the fan before this weekend. HAHAHA
SHits about to hit the fan since a couple month now but so far bitconnect is breaking every record in the crypto World |
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