[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[Gleb Gamow]

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

I would like to open a Bitcoin / Crypto consulting office for bitconnect

The branch office is only used for consulting purposes where we explain how Bitconnect works and also give Bitcoin info about Bitcoin in general.

I also set up a Bitcoin ATM in the Filliale.


The first store opens in Munich

What do I have to pay attention to?

You didn't earn your RED TRUST by promoting something that's NOT a Ponzi scheme. Think about, asshole!

[bitconnect-worldwide]

Im not promoting a ponzi, Its idiots like you that think it is a ponzi fucking idiot

[crypto_ty]

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

The app and the website going down is additional red flags on this thing. There are a hundred other red flags with it. I am not saying it will crash but "if" it does, it will be in the blink of an eye and everybody's money will be gone. There are soo many Youtubers pumping Bitconnect and saying how much money they making. You aren't making money if it disappears. The wise ones will recoup their initial investment and then some instead of continual reinvestment.

[bambarmia]

Im not promoting a ponzi, Its idiots like you that think it is a ponzi fucking idiot

You are dude.. You are promoting this ponzi scheme and the trust rating on your profile shows that very well.

https://bitcointalk.org/index.php?action=trust;u=1109159

[Gleb Gamow]

https://bitconnect.co/system-news/68/bitconnect-support-team-we-apologize-for-the-delay-in-response/

Reads to me like Team BitConnect can't decide what side of the pond they're on.

Im not promoting a ponzi, Its idiots like you that think it is a ponzi fucking idiot

You are dude.. You are promoting this ponzi scheme and the trust rating on your profile shows that very well.

https://bitcointalk.org/index.php?action=trust;u=1109159

Dude, now you did it! Now this German fuck is gonna start quoting Leroy "Honestly" Fodor to prove that this place is USELESS.

[Gleb Gamow]

Im not promoting a ponzi, Its idiots like you that think it is a ponzi fucking idiot

Hey, since I like you, I'll do you a favor. Here's another venerable outfit that you can get your Oma to invest ALL her pension and yourself to invest in. I already vetted them and they meet all your criteria in being an up-and-up entity - their CEO is anonymous and they use the same content as BitConnect:

http://www.peoplehelp.club/terms-and-condition.php

https://bitconnect.co/terms-of-use/

[TexasRebel]

Definition of a Ponzi - a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

How the hell is Bitconnect a ponzi if they are using trading bots much like Wall Street to do thousands of trades a second and take the profits made and pay a percentage back to the investors??

[Gleb Gamow]

Here's how to really make money off BitConnect. Follow closely ...

Ian and James, if you don't want your last names disclosed and the dots [bit]connected by myself, kindly pay me U$100,000 anonymously via bitcoins and I'll be quiet. PM me when you're ready to remit my request so that I can provide you a bitcoin wallet address.

Sincerely,

Bruno

PS: I'm willing to travel to LV if you desire to pay me in person.

[bambarmia]

Definition of a Ponzi - a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

How the hell is Bitconnect a ponzi if they are using trading bots much like Wall Street to do thousands of trades a second and take the profits made and pay a percentage back to the investors??

If bitconnect created trading bot that can manage 40% monthly income than I'm sure bitconnect team must be awarded with nobel prize in economics 2017 ! WTF are you talking about dude

[SimonJones]

The site is so buggy. It will probably only last for this week.

[Gleb Gamow]

Definition of a Ponzi - a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

How the hell is Bitconnect a ponzi if they are using trading bots much like Wall Street to do thousands of trades a second and take the profits made and pay a percentage back to the investors??

If bitconnect created trading bot that can manage 40% monthly income than I'm sure bitconnect team must be awarded with nobel prize in economics 2017 ! WTF are you talking about dude

They're already Ponzi Prize Laureates in Ponzinomics.

[stupido656]

Definition of a Ponzi - a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

How the hell is Bitconnect a ponzi if they are using trading bots much like Wall Street to do thousands of trades a second and take the profits made and pay a percentage back to the investors??

If bitconnect created trading bot that can manage 40% monthly income than I'm sure bitconnect team must be awarded with nobel prize in economics 2017 ! WTF are you talking about dude

They're already Ponzi Prize Laureates in Ponzinomics.

Would you say the BitConnect Ponzi is so brilliant that it will still be running after months or years to come? If so then you should invest now to get rich even if you would know its 100 percently a ponzi scheme

[Filmmmakerr]

Wow all this Ponzi and scheme talks about this coin but yet its going no where but up. I still don't understand the special value of BCC?

[AGM76]

Hi,

I'm not any expert on any of this by any means but is it possible that they are not a Ponzi scheme? They used to be a peer to peer lending site, I think, as I pointed out with previous links. Remember that people who harbour negativity are usually doing so from a traumatised perspective and will need something to be against (it is like a delusion that prevents their anxiety, using scapegoating etc). A lot of people don't realise that it's very hard to change people's mind in this state once they decide it's true as it helps them psychologically to feel that way and they actually believe it strongly even when evidence is presented on the contrary. What I'm getting at is I'm not trying to change the mind of anyone who might think it's definitely a scam, just I'm not totally sure that it is. It is recruiting in lots of countries: https://www.youtube.com/watch?v=JUOUg52Zscc for lots of investment. People who have held the coin for nearly a year or so have made ridiculous gains (even ten times increase from a few months back when people on here were claiming it was a scam- can you imagine how much people in bitconnect are actually making who have been promoting it more than a couple of weeks and getting daily interest in huge numbers now), not to mention the coin itself has 8% monthly interest!

Ways they could make money on the platform are through their own exchange (after all most charge a commission at least of about 0.25% of all volume but not sure about the profits bitconnect take from its exchange), and also if they are sure the coin price is going to rise (through their marketing efforts) then when people 'lend' their coin, they are giving up all this growth (which bitconnect can calculate to decent degree based on their new registrations and payments coming in) and also the 8% a month growth in the coin algorithm. So this percentage return they are giving on the 'lending', could just be their calculation of the growth of the coin and that they expect that the cost to return the coin later will be zero (despite ostensibly giving ridiculous interest rates).

For some figures, say the coin stays the same value (which we know it does not as their platform causes it to gain in value) if people lend the coin and say get up to 140% the amount, we also have to add in the affiliate income which overall probably comes to about 10% on average over all the levels on all BCC deposits (7% on level one) but remember the 8% monthly coin interest actually negates this as this coin is still held by bitconnect when you lend it, just you give up on its natural growth in return for guaranteed USD growth.  So say that in a month the people lending the coin have gained 50% over the coin (cos the coin didn't go up in value at all so would need to be paid 1.5X the BCC when exchanging back from USD) which would be an overestimate based on all this, then if you think this 50% extra isn't possible for them to earn on the exchange volume or other possible bot (from old or projected new customers that they can accurately calculate), then it's true it would be a Ponzi. That neglects the fact that they have been earning close to 10% monthly interest on all their premined coins and have millions of them so can probably afford to give 50% extra coins in return for a long time without others losing out. I am not sure exactly how it works but even if they got careless and let this 50% per month shortfall happen for a while, it would still be possible for them to pay the 50% extra BCC a month when users exchange the dollars back. Reealistically, they would normally make sure the lending interest rate was lower when they can't cover the costs without more members coming in than they predict (remember all these new members are using the exchange and giving them some percentage profit at least from that which they can calculate quite well). At the moment they must have lots of BCC reserves and have no problems, and they can probably calculate that their coin is going up and are not losing out.

In fact, at the moment they are making money when people lend the coin as they only need to give a fraction of the coin back later. For example if the coin doubles in a month (from their calculations) then, although the USD cost to them becomes 1.5x the original amount in a month (from my exaggerated calculations), this only equates to 0.75x the original lent BCC so they may actually be making a large profit on their current lending rates. Does anyone see what I'm trying to say? They are obviously not selling their coin into BTC yet as they know it is growing in value, and they might actually be making profits from the investment plan, despite it looking like they can't afford it.

[AGM76]

Noticed another site with similar terms as posted by gleb: http://ukbitcoin.info/index.php#    notice the same volatility bot but again this seems to be on their own lending platform so probably possible to profit from it:

Earn by investing in bitcoin lending
ukbitcoin.info members can potentially earn by Bitcoin investment through lending their bitcoins toukbitcoin.info pooled fund where bitconnect trading Bot do its work so you can rest easy and let your bitcoin investment do the heavy lifting. Using our specialized bitcoin volatility software, we can help you to earn a substantial return on your investment, where we distribute earning among lenders. The interest rate on lending will be calculated by our bitcoin price volatility software and accrued daily.

http://ukbitcoin.info/terms-of-use/index.php

Our mission is to empower people financially and make the world more open and connected. This is the community of the people with a common cause to make bitcoin the most used payment system in the world.Our vision is to foster a trusted bitcoin community, more friendly than OTC, but ore involved than a bitcoin broker. To accomplish this, we demand that our members are honest and respectful to each other. For that reason, we’ve developed a set of community standards. These policies will help you to understand what type of operations allowed on bitconnect and what type of operations violate community standards. By reading and continuing to use community site you agree to the following conditions of use.

Notice how they even mistakenly used the word bitconnect lol even though this site was from 2016

[Gleb Gamow]

Hi,

I'm not any expert on any of this by any means but is it possible that they are not a Ponzi scheme? They used to be a peer to peer lending site, I think, as I pointed out with previous links. Remember that people who harbour negativity are usually doing so from a traumatised perspective and will need something to be against (it is like a delusion that prevents their anxiety, using scapegoating etc). A lot of people don't realise that it's very hard to change people's mind in this state once they decide it's true as it helps them psychologically to feel that way and they actually believe it strongly even when evidence is presented on the contrary. What I'm getting at is I'm not trying to change the mind of anyone who might think it's definitely a scam, just I'm not totally sure that it is. It is recruiting in lots of countries: https://www.youtube.com/watch?v=JUOUg52Zscc for lots of investment. People who have held the coin for nearly a year or so have made ridiculous gains (even ten times increase from a few months back when people on here were claiming it was a scam- can you imagine how much people in bitconnect are actually making who have been promoting it more than a couple of weeks and getting daily interest in huge numbers now), not to mention the coin itself has 8% monthly interest!

Ways they could make money on the platform are through their own exchange (after all most charge a commission at least of about 0.25% of all volume but not sure about the profits bitconnect take from its exchange), and also if they are sure the coin price is going to rise (through their marketing efforts) then when people 'lend' their coin, they are giving up all this growth (which bitconnect can calculate to decent degree based on their new registrations and payments coming in) and also the 8% a month growth in the coin algorithm. So this percentage return they are giving on the 'lending', could just be their calculation of the growth of the coin and that they expect that the cost to return the coin later will be zero (despite ostensibly giving ridiculous interest rates).

For some figures, say the coin stays the same value (which we know it does not as their platform causes it to gain in value) if people lend the coin and say get up to 140% the amount, we also have to add in the affiliate income which overall probably comes to about 10% on average over all the levels on all BCC deposits (7% on level one) but remember the 8% monthly coin interest actually negates this as this coin is still held by bitconnect when you lend it, just you give up on its natural growth in return for guaranteed USD growth.  So say that in a month the people lending the coin have gained 50% over the coin (cos the coin didn't go up in value at all so would need to be paid 1.5X the BCC when exchanging back from USD) which would be an overestimate based on all this, then if you think this 50% extra isn't possible for them to earn on the exchange volume or other possible bot (from old or projected new customers that they can accurately calculate), then it's true it would be a Ponzi. That neglects the fact that they have been earning close to 10% monthly interest on all their premined coins and have millions of them so can probably afford to give 50% extra coins in return for a long time without others losing out. I am not sure exactly how it works but even if they got careless and let this 50% per month shortfall happen for a while, it would still be possible for them to pay the 50% extra BCC a month when users exchange the dollars back. Reealistically, they would normally make sure the lending interest rate was lower when they can't cover the costs without more members coming in than they predict (remember all these new members are using the exchange and giving them some percentage profit at least from that which they can calculate quite well). At the moment they must have lots of BCC reserves and have no problems, and they can probably calculate that their coin is going up and are not losing out.

In fact, at the moment they are making money when people lend the coin as they only need to give a fraction of the coin back later. For example if the coin doubles in a month (from their calculations) then, although the USD cost to them becomes 1.5x the original amount in a month (from my exaggerated calculations), this only equates to 0.75x the original lent BCC so they may actually be making a large profit on their current lending rates. Does anyone see what I'm trying to say? They are obviously not selling their coin into BTC yet as they know it is growing in value, and they might actually be making profits from the investment plan, despite it looking like they can't afford it.

I quit reading at the point where I highlighted. Dude, you are one stupid motherfucker! But consider yourself lucky, for now I'M GONNA HUNT YOUR ASS DOWN AND EXIT YOU FROM THE GENE POOL !!!

<humor only>

[AGM76]

I just worked out that the uk site I mentioned was from BlackShadow Coin https://bitcointalk.org/index.php?topic=1629087.0

Don't know anything about that tbh but it 's curious they are using the same text as bitconnect. Not sure if they are connected at all or he just copied the site. Also, the bot wording seems nothing to do with their own lending platform either like I originally thought.

Originally bitconnect had this https://bitconnect.co/system-news/11/finally-the-waiting-is-over-the-dispatcher-is-switched-on but maybe it was some other type of lending and not peer to peer like I thought but they definitely didn't have BCC at that point as it was around March 2016.

[Gleb Gamow]

Noticed another site with similar terms as posted by gleb: http://ukbitcoin.info/index.php#    notice the same volatility bot but again this seems to be on their own lending platform so probably possible to profit from it:

Earn by investing in bitcoin lending
ukbitcoin.info members can potentially earn by Bitcoin investment through lending their bitcoins toukbitcoin.info pooled fund where bitconnect trading Bot do its work so you can rest easy and let your bitcoin investment do the heavy lifting. Using our specialized bitcoin volatility software, we can help you to earn a substantial return on your investment, where we distribute earning among lenders. The interest rate on lending will be calculated by our bitcoin price volatility software and accrued daily.

http://ukbitcoin.info/terms-of-use/index.php

Our mission is to empower people financially and make the world more open and connected. This is the community of the people with a common cause to make bitcoin the most used payment system in the world.Our vision is to foster a trusted bitcoin community, more friendly than OTC, but ore involved than a bitcoin broker. To accomplish this, we demand that our members are honest and respectful to each other. For that reason, we’ve developed a set of community standards. These policies will help you to understand what type of operations allowed on bitconnect and what type of operations violate community standards. By reading and continuing to use community site you agree to the following conditions of use.

Notice how they even mistakenly used the word bitconnect lol even though this site was from 2016

http://ukbitcoin.info/faqs/index.php

[AGM76]

As I pointed out, I think their model is sustainable since they seem to be making profit on the USD loans (not actually BCC loans) so do not need new users to cover it while the price has been going up (their affiliate payments when customers exchange it into dollars and lock away their funds for the variable interest are also ingeniously covered by the BCC coins automatic 8% monthly interest until the customers buy it back with the dollars). They also have massive reserves of BCC tokens from their premine. Not sure how many exactly, but in 6 or 7 months the monthly staking interest would have increased their own stash by 70%!

Found a couple of news stories from earlier in the year to demonstrate this growth: mid-March  2017 price $2


This was just a couple of months later : mid-May price $9



As you know it is now about 14 times this level (around $125+) after three more months so the rate seems to be increasing and they are probably profiting from the customer lending rates and are not losing any cash or needing other investment at the moment to cover the BCC payments due to the demand for their coin and the rise in price. They can easily adjust lending rates to compensate when necessary. Please someone explain where I am wrong on this?


(I've not even mentioned their own exchange where they can probably get a profit on volume traded and they can easily predict this profit for calculating their interest payments etc)

P.S. How do I insert inline images?

[pinkman12345]

As I pointed out, I think their model is sustainable since they seem to be making profit on the USD loans (not actually BCC loans) so do not need new users to cover it while the price has been going up (their affiliate payments when customers exchange it into dollars and lock away their funds for the variable interest are also ingeniously covered by the BCC coins automatic 8% monthly interest until the customers buy it back with the dollars). They also have massive reserves of BCC tokens from their premine. Not sure how many exactly, but in 6 or 7 months the monthly staking interest would have increased their own stash by 70%!

Found a couple of news stories from earlier in the year to demonstrate this growth: mid-March  2017


And just a couple of months later in mid-may (4.5x more growth):



As you know it is now about 14 times this level (around $125+) after three more months so the rate seems to be increasing and they are probably profiting from the customer lending rates and are not losing any cash or needing other investment at the moment to cover the BCC payments due to the demand for their coin and the rise in price. They can easily adjust lending rates to compensate when necessary. Please someone explain where I am wrong on this?

You are right in your assumption.
Actually there is nothing called a thin line between crypto currency and a ponzi. If we extend the definition then everything will look like ponzi, Just a case BTC why it is gaining value?? because new members are coming in..so obviously the people like Doodlus who invested earlier will get profit. So what  if people stop using it and bitcoin collapse?? who will lose??
there is no distinction between crypto and ponzi you can always extend the definition as you like, i am a crypto enthusiast and works in police and have seen many cases involving money being ripped from citizens in MLM and ladder schemes.

Crypto is for speculators not for traders.


There are speculators and traders who make markets in things like Bitcoins.  They don't care about the underlying value of anything.  All they care about is the value right now, and the momentum of the pricing.  If something looks like it is going up they buy it, simply on the hope they can sell it for more than they paid and take a profit on the trade.  They don't see the things they trade as having stored value because they intend to spin the transaction very quickly in order to make a fast buck.  Even if value falls they sell, taking a loss.  That's why they are speculators.

Most of us work hard to put a few dollars, euros, pounds, rupees or other currencies into our bank accounts. Most of those dollars we spend on consumption, buying food, utilities, entertainment and everything else we enjoy.   If we have extra money and want the value to grow we invest that money in assets that have an underlying value, like real estate or machinery or companies that put assets to work making things people want.  We expect our investment to grow because the assets yield a return.  We invest our money for the long-term, hoping to create a nest egg for future consumption.

Anyways, i would like to see where this project ends up as i see some good detectives chasing this project now. Lets see if Bruno can take it down or its just his.......

I read all on forbes.