[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[AGM76]

Bitconnect dudes are having a nice time now spending that millions they have taken away from all that IDIOTS who was believing in FREE MONEY and fairy tales. Me and many other people on this forum were predicting that  this huge ponzi scheme will collapse soon, but nobody was listening and here is the RESULT !  

Am I the only one who worked out that Bitconnect are profiting hugely from the lending rates (they are paying people less money than the growth of their coin)? As long as they can predict the growth, they can afford to give these interest rates and profit from them. Even the minimum rates for higher deposits (0.25% daily bonus for highest deposits) are not excessive, since they do actually get interest from the BCC itself that members deposit of MORE than this rate (8% per month staking interest currently is built into the coin and members give this growth up too when lending into USD and locking it away for a period) but this should be paying the affiliates and that is where their massive reserves of BCC come in and they are gaining lots of interest there! This platform is not a ponzi, they are making profit. I keep trying to explain to people on here, but they don't understand. While they can stabilise the coin price and not make it reduce in value (which their platform is well set up to do), they can make money for both themselves and the investors without even having any bot trading for them which is the ironic thing about their marketing.

I actually feel a  bit bad for selling my 30 tokens I bought for 0.008 for 0.021 (made $1600 profit) as they are now worth a lot more (could have made an extra $1300). Anyway, I'm now going to deposit the profit into bitconnect AS IT IS NOW OPERATIONAL AGAIN. I'm guessing there will be some angry people who are currently suspended who accidentally withdrew too much due to the bugs but they are probably doing the right thing allowing access to people who didn't have any problem with that.

As I said before, you are making up facts that don't make sense and you don't know are true. It isn't that hard for Bitconnect to prove they are solvent and have a trading bot. Since they can't do that, it's perfectly logical to assume they are not solvent and their bot does not exist. Go ahead and dump more coins into it if you want, but don't go claiming you've "worked out" how they are profitable when you do not have proof.

The only way they are not in profit is if someone is stealing the cash (which is why I am interested in how much the bug cost them in funds). They should be using their profits as a reserve in USD preferably (in case of BTC problems) to buy BCC for when they are struggling to keep the coin price up (since obviously the coin has inflation built in for a while, they always need to increase its perceived value). It's not hard to work out they are profiting, just from looking at the graph on coinmarketcap of their coin value. When members exchange BCC into USD they give that growth up (also reducing sell pressure by locking it away) even though their capital is guaranteed plus variable interest which so far is greater than 30% per month I think but this is less than the coin has been increasing in value so bitconnect are making a killing in profits (by the time people exchange dollars in the lending wallet into BCC, the people are GETTING LESS BCC even though they are getting more dollars). They probably own nearly half of the BCC too (not including their liabilities for investors) and are making huge amounts in staking interest on that. The only worry is if the people managing it do not really know what they are doing and are being careless.

If you think the price increase of BCC is profitable to Bitconnect, you are right. The mistake you are making is you are, by your own definition, considering this a huge multimillion almost billion dollar pump and dump, which will cause a huge loss to investors. This seems more like a ponzi scheme. They kind of have the same idea with the exception of how they operate. The money that Bitconnect is paying has to come from somewhere, and the bot is the only reason people are buying BCC to begin with and the reason the price is rising. You can't just become "profitable" by a price increase, they have liabilities that need to be paid, a stream of income that is greater than expenses. Their liabilities add up to 40% per month, which assuming the bot does not exists makes this a ponzi scheme. If they are simply selling their BCC reserves to new investors like you suggest, I suppose that would make it a pump and dump with a high degree of fraud.

If they had really found such a great way to make so much money, they wouldn't need the public to fund them. They would have gone straight to an angel investor, bank or hedge fund and got more money than they asked for. Why didn't they do this? Because that would require answering all the questions that I have already asked. This is why they are only targeting the public who are financially unsophisticated, and don't know what questions to ask and are therefore easy prey. Bitconnect is already breaking US securities law by refusing to reveal such information. All these BCC now fall under SEC regulation. Their servers are located in San Francisco and they will be shutdown unless they comply.

I honestly don't know how people can keep defending and promoting this coin. It's illegal. Who's the CEO? Who are the shareholders? You're defending a faceless company. Really? Because they have a working platform that can show your money going up? Show me a different successful anonymous company. How much lower are you willing to go? Look what happened when their exchange went down. The price tanked 75% immediately. Sure shows a lot of confidence when people are going to dump your coin like that.

Just be aware that you are part of a cult. You believe because you want to, not because anyone has proven something to you. All cults are fake. I don't know how to put it in kinder words for you. You will lose.

I don't actually have any money on the line at the moment as I'm yet to buy more BCC and only just got interest in this a week ago. You are still not understanding things if you are saying they have liabilities of 40% per month. How many times do I have to explain they are profiting from that interest rate as BCC goes up higher than that? When people lend into USD they give up the coin's value until they exchange the dollar amount back. The coin has been increasing faster than this interest rate they give you so they only need to PAY LESS BACK. They are providing a kind of service where they guarantee your capital (since they can determine the price is going to go up) and give you a lower interest rate than the coin goes up in value. The only people at risk are the coin holders if bitconnect can't sustain its value from the profits they are making with their service (which is marketed in a different way to the effective result of what really is happening). They seem to do everything to try and maintain the value and prevent any panic sells etc. so the risk should technically be lower than investing in something like bitcoin on its own as you need to keep it on an exchange and put a stop loss on it to guarantee you don't lose all your investment.

Regarding legality, they registered as a UK company. I noticed that many companies dealing in cryptocurrency only (those that don't deal with actual FIAT deposits) register in UK as it's not regulated yet regarding bitcoins so there is no law against what they are doing but I don't know what the situation in USA is. I think their recent notice mentions registering again as a private limited company (I only glanced at the announcement but I saw something like that). It will probably be in UK as I think their initial registration was probably just for show and not compliant if they aren't actually operating in UK (the scam places only register to seem legit as it probably is very easy to get a certificate with a false name). It is possible for them to legally run the same business they are doing from the UK but they will probably be more strict with identification. What many of the legitimate companies do in UK is implement KYC policies despite not legally having to do so when dealing just with cryptocurrencies. It's like a way to show they are legitimate to authorities to do it voluntarily. They may have to stop taking US deposits due to these issues in the future. This is if they want to really do this properly.

The only people at risk in their system are the coin holders who do not want to use their service to guarantee their deposit amount but their system seems to prevent the coin being dumped by tempting people into guaranteeing their deposit with interest as this also prevents them dumping the BCC for a long time and must decrease the sell pressure on the exchange and also prevents a lot of panic selling.

They wouldn't want to DUMP the coin they have in reserve unnecessarily even to take profits at times, as then exchanging the USD back after someone requests the money would be MORE EXPENSIVE RATHER THAN LESS EXPENSIVE than the original investment in BCC tokens and they may not be able to cover their liabilities and they are extracting enough profit from that. If the coin price is sustained and doesn't go down, then they will be making money even with no bot if they pay low interest rates that they can afford (even 0.25% a day is affordable as I already explained). If the coin dumps, then remember that it's only the USD guaranteed amounts in the lending wallets that they have to cover (which is they why they should keep a USD reserve from their massive profits so far). There is nothing Ponzi about it if you understand the system as they are profiting from sharing the growth of the coin while providing the service to guarantee the value of any investment in the lending wallet.

Let's give an example of an investment from when BCC was $100:  Investor deposits $1000 and gets 10 BCC which is lent and guarantees his deposit with interest (lets imagine capital release is 3 months even though it's about double this to show how easily they can afford it). Well historically, in three months, the interest in BCC is about another 10BCC (it's paid incrementally so is actually less if the coin goes up in value but it's not so easy to calculate). Now look how much the coin has increased in value by this time....say it has increased 4x (underestimate so far in 3 months as historically it's more than doubled each month on average so over 8x) then when the investor gets his $1000 back (which is ingeniously guaranteed by the system) he only gets 2.5 BCC back. Because it is incremental, the interest cost is not so easy to calculate but if the coin has increased by 4 times, then the interest may have cost them about 5BCC instead of 10BCC but this also depends on when the customer withdraws the interest in USD into BCC (later withdrawels cost less if the coin increases in value but maybe on average it halves the amount of BCC the interest costs if the coin has gone up 4x in this period).  Bitconnect should then convert its 2.5BCC profit into USD as a reserve (remember this is around the same as their total liability for the investor which shows how much of a profit they are making and how much more the investor could have got for holding the coin instead of guaranteeing its value and this doesn't include staking interest that bitconnect takes too- but this staking interest should be for affiliate payments). If BCC price crashes, then they should have enough of a reserve for all the lending wallets if they make sure they are careful with their massive profits. This is only if they want to do this the correct way.

UPDATE: Had to edit it for errors whoops

[Lionidas]

Videos of what is going on and if it's an inside job as I have said is going on with all the glitch business they are spewing now.

https://www.youtube.com/watch?v=_bm5ea2Pd8A

And it shows these people Mr.Satshi and why this Ken Fitzsimmons who is registered in the UK doesn't attend any of the bitconnect videos.

https://www.youtube.com/watch?v=Rd9xlH-10Dg

Talk amongst yourselfs!

[Gleb Gamow]

have fun reading the comments below, more will be coming https://bitconnect.co/system-news/73/bitconnect-would-like-to-announce-that-only-negative-accounts-will-be-suspended/

"There are some very fine idiots on both sides."

[rudystyle]

Maybe the infinite withdrawal bug is back again. Try it guys!

[bambarmia]

Just read the comments below this threat...

https://bitconnect.co/system-news/73/bitconnect-would-like-to-announce-that-only-negative-accounts-will-be-suspended/

This is the start of the end for this EPIC SCAM !  I'm really sorry for the people who lost their money, but all this reminds me of the rise and fall of Bernie Madoff (It was too good to be true)

[ChromaticStar]

Bitconnect dudes are having a nice time now spending that millions they have taken away from all that IDIOTS who was believing in FREE MONEY and fairy tales. Me and many other people on this forum were predicting that  this huge ponzi scheme will collapse soon, but nobody was listening and here is the RESULT !  

Am I the only one who worked out that Bitconnect are profiting hugely from the lending rates (they are paying people less money than the growth of their coin)? As long as they can predict the growth, they can afford to give these interest rates and profit from them. Even the minimum rates for higher deposits (0.25% daily bonus for highest deposits) are not excessive, since they do actually get interest from the BCC itself that members deposit of MORE than this rate (8% per month staking interest currently is built into the coin and members give this growth up too when lending into USD and locking it away for a period) but this should be paying the affiliates and that is where their massive reserves of BCC come in and they are gaining lots of interest there! This platform is not a ponzi, they are making profit. I keep trying to explain to people on here, but they don't understand. While they can stabilise the coin price and not make it reduce in value (which their platform is well set up to do), they can make money for both themselves and the investors without even having any bot trading for them which is the ironic thing about their marketing.

I actually feel a  bit bad for selling my 30 tokens I bought for 0.008 for 0.021 (made $1600 profit) as they are now worth a lot more (could have made an extra $1300). Anyway, I'm now going to deposit the profit into bitconnect AS IT IS NOW OPERATIONAL AGAIN. I'm guessing there will be some angry people who are currently suspended who accidentally withdrew too much due to the bugs but they are probably doing the right thing allowing access to people who didn't have any problem with that.

As I said before, you are making up facts that don't make sense and you don't know are true. It isn't that hard for Bitconnect to prove they are solvent and have a trading bot. Since they can't do that, it's perfectly logical to assume they are not solvent and their bot does not exist. Go ahead and dump more coins into it if you want, but don't go claiming you've "worked out" how they are profitable when you do not have proof.

The only way they are not in profit is if someone is stealing the cash (which is why I am interested in how much the bug cost them in funds). They should be using their profits as a reserve in USD preferably (in case of BTC problems) to buy BCC for when they are struggling to keep the coin price up (since obviously the coin has inflation built in for a while, they always need to increase its perceived value). It's not hard to work out they are profiting, just from looking at the graph on coinmarketcap of their coin value. When members exchange BCC into USD they give that growth up (also reducing sell pressure by locking it away) even though their capital is guaranteed plus variable interest which so far is greater than 30% per month I think but this is less than the coin has been increasing in value so bitconnect are making a killing in profits (by the time people exchange dollars in the lending wallet into BCC, the people are GETTING LESS BCC even though they are getting more dollars). They probably own nearly half of the BCC too (not including their liabilities for investors) and are making huge amounts in staking interest on that. The only worry is if the people managing it do not really know what they are doing and are being careless.

If you think the price increase of BCC is profitable to Bitconnect, you are right. The mistake you are making is you are, by your own definition, considering this a huge multimillion almost billion dollar pump and dump, which will cause a huge loss to investors. This seems more like a ponzi scheme. They kind of have the same idea with the exception of how they operate. The money that Bitconnect is paying has to come from somewhere, and the bot is the only reason people are buying BCC to begin with and the reason the price is rising. You can't just become "profitable" by a price increase, they have liabilities that need to be paid, a stream of income that is greater than expenses. Their liabilities add up to 40% per month, which assuming the bot does not exists makes this a ponzi scheme. If they are simply selling their BCC reserves to new investors like you suggest, I suppose that would make it a pump and dump with a high degree of fraud.

If they had really found such a great way to make so much money, they wouldn't need the public to fund them. They would have gone straight to an angel investor, bank or hedge fund and got more money than they asked for. Why didn't they do this? Because that would require answering all the questions that I have already asked. This is why they are only targeting the public who are financially unsophisticated, and don't know what questions to ask and are therefore easy prey. Bitconnect is already breaking US securities law by refusing to reveal such information. All these BCC now fall under SEC regulation. Their servers are located in San Francisco and they will be shutdown unless they comply.

I honestly don't know how people can keep defending and promoting this coin. It's illegal. Who's the CEO? Who are the shareholders? You're defending a faceless company. Really? Because they have a working platform that can show your money going up? Show me a different successful anonymous company. How much lower are you willing to go? Look what happened when their exchange went down. The price tanked 75% immediately. Sure shows a lot of confidence when people are going to dump your coin like that.

Just be aware that you are part of a cult. You believe because you want to, not because anyone has proven something to you. All cults are fake. I don't know how to put it in kinder words for you. You will lose.

I don't actually have any money on the line at the moment as I'm yet to buy more BCC and only just got interest in this a week ago. You are still not understanding things if you are saying they have liabilities of 40% per month. How many times do I have to explain they are profiting from that interest rate as BCC goes up higher than that? When people lend into USD they give up the coin's value until they exchange the dollar amount back. The coin has been increasing faster than this interest rate they give you so they only need to PAY LESS BACK. They are providing a kind of service where they guarantee your capital (since they can determine the price is going to go up) and give you a lower interest rate than the coin goes up in value. The only people at risk are the coin holders if bitconnect can't sustain its value from the profits they are making with their service (which is marketed in a different way to the effective result of what really is happening). They seem to do everything to try and maintain the value and prevent any panic sells etc. so the risk should technically be lower than investing in something like bitcoin on its own as you need to keep it on an exchange and put a stop loss on it to guarantee you don't lose all your investment.

Regarding legality, they registered as a UK company. I noticed that many companies dealing in cryptocurrency only (those that don't deal with actual FIAT deposits) register in UK as it's not regulated yet regarding bitcoins so there is no law against what they are doing but I don't know what the situation in USA is. I think their recent notice mentions registering again as a private limited company (I only glanced at the announcement but I saw something like that). It will probably be in UK as I think their initial registration was probably just for show and not compliant if they aren't actually operating in UK (the scam places only register to seem legit as it probably is very easy to get a certificate with a false name). It is possible for them to legally run the same business they are doing from the UK but they will probably be more strict with identification. What many of the legitimate companies do in UK is implement KYC policies despite not legally having to do so when dealing just with cryptocurrencies. It's like a way to show they are legitimate to authorities to do it voluntarily. They may have to stop taking US deposits due to these issues in the future. This is if they want to really do this properly.

The only people at risk in their system are the coin holders who do not want to use their service to guarantee their deposit amount but their system seems to prevent the coin being dumped by tempting people into guaranteeing their deposit with interest as this also prevents them dumping the BCC for a long time and must decrease the sell pressure on the exchange and also prevents a lot of panic selling.

They wouldn't want to DUMP the coin they have in reserve unnecessarily even to take profits at times, as then exchanging the USD back after someone requests the money would be MORE EXPENSIVE RATHER THAN LESS EXPENSIVE than the original investment in BCC tokens and they may not be able to cover their liabilities and they are extracting enough profit from that. If the coin price is sustained and doesn't go down, then they will be making money even with no bot if they pay low interest rates that they can afford (even 0.25% a day is affordable as I already explained and remember the interest is always in BCC and not in USD). If the coin dumps, then remember that it's only the USD guaranteed amounts in the lending wallets that they have to cover (which is they why they should keep a USD reserve from their massive profits so far). They never have to cover the interest as that is all in BCC and goes down with the coin value unless reinvested. There is nothing Ponzi about it if you understand the system as they are profiting from sharing the growth of the coin while providing the service to guarantee the value of any investment in the lending wallet.

Let's give an example of an investment from when BCC was $100:  Investor deposits $1000 and gets 10 BCC which is lent and guarantees his deposit with interest (lets imagine capital release is 3 months even though it's about double this to show how easily they can afford it). Well historically, in three months, the interest in BCC is about another 10BCC. Bitconnect don't need to worry about covering that as it's at the investors own risk if he doesn't reinvest or withdraw (my previous calculations didn't even consider this). Now look how much the coin has increased in value by this time....say it has increased 4x (underestimate so far in 3 months as historically it's more than doubled each month on average so over 8x) then when the investor gets his $1000 back (which is ingeniously guaranteed by the system) he only gets 2.5 BCC back. Bitconnect should then convert its 7.5BCC profit into USD as a reserve (remember this is THREE TIMES their liability for the investor which shows how much of a profit they are making and how much more the investor could have got for holding the coin instead of guaranteeing its value and this doesn't include staking interest that bitconnect takes too). If BCC price crashes, then they should have enough of a reserve for all the lending wallets if they make sure they are careful with their massive profits. This is only if they want to do this the correct way.

Your reasoning is still flawed. It implies that the only way for Bitconnect to profit is through speculating on the price of their own coin and this is highly risky. Their ads clearly state there is "NO RISK" so if this was a legit company, this is not how they would operate. You are making this way too complicated and risky to operate and ignoring all the obvious signs of fraud. There's no way this can function unless they have an outside source of income, coming from a volatility bot, which they most definitely do not have.

There are more than one registered Bitconnect companies located in the world. I do not know who this UK Fitzsimmons guy is, but he is probably not part of this Bitconnect.

Seeing the angry people on Bitconnect's website isn't helping them right now.

[AGM76]

Bitconnect dudes are having a nice time now spending that millions they have taken away from all that IDIOTS who was believing in FREE MONEY and fairy tales. Me and many other people on this forum were predicting that  this huge ponzi scheme will collapse soon, but nobody was listening and here is the RESULT !  

Am I the only one who worked out that Bitconnect are profiting hugely from the lending rates (they are paying people less money than the growth of their coin)? As long as they can predict the growth, they can afford to give these interest rates and profit from them. Even the minimum rates for higher deposits (0.25% daily bonus for highest deposits) are not excessive, since they do actually get interest from the BCC itself that members deposit of MORE than this rate (8% per month staking interest currently is built into the coin and members give this growth up too when lending into USD and locking it away for a period) but this should be paying the affiliates and that is where their massive reserves of BCC come in and they are gaining lots of interest there! This platform is not a ponzi, they are making profit. I keep trying to explain to people on here, but they don't understand. While they can stabilise the coin price and not make it reduce in value (which their platform is well set up to do), they can make money for both themselves and the investors without even having any bot trading for them which is the ironic thing about their marketing.

I actually feel a  bit bad for selling my 30 tokens I bought for 0.008 for 0.021 (made $1600 profit) as they are now worth a lot more (could have made an extra $1300). Anyway, I'm now going to deposit the profit into bitconnect AS IT IS NOW OPERATIONAL AGAIN. I'm guessing there will be some angry people who are currently suspended who accidentally withdrew too much due to the bugs but they are probably doing the right thing allowing access to people who didn't have any problem with that.

As I said before, you are making up facts that don't make sense and you don't know are true. It isn't that hard for Bitconnect to prove they are solvent and have a trading bot. Since they can't do that, it's perfectly logical to assume they are not solvent and their bot does not exist. Go ahead and dump more coins into it if you want, but don't go claiming you've "worked out" how they are profitable when you do not have proof.

The only way they are not in profit is if someone is stealing the cash (which is why I am interested in how much the bug cost them in funds). They should be using their profits as a reserve in USD preferably (in case of BTC problems) to buy BCC for when they are struggling to keep the coin price up (since obviously the coin has inflation built in for a while, they always need to increase its perceived value). It's not hard to work out they are profiting, just from looking at the graph on coinmarketcap of their coin value. When members exchange BCC into USD they give that growth up (also reducing sell pressure by locking it away) even though their capital is guaranteed plus variable interest which so far is greater than 30% per month I think but this is less than the coin has been increasing in value so bitconnect are making a killing in profits (by the time people exchange dollars in the lending wallet into BCC, the people are GETTING LESS BCC even though they are getting more dollars). They probably own nearly half of the BCC too (not including their liabilities for investors) and are making huge amounts in staking interest on that. The only worry is if the people managing it do not really know what they are doing and are being careless.

If you think the price increase of BCC is profitable to Bitconnect, you are right. The mistake you are making is you are, by your own definition, considering this a huge multimillion almost billion dollar pump and dump, which will cause a huge loss to investors. This seems more like a ponzi scheme. They kind of have the same idea with the exception of how they operate. The money that Bitconnect is paying has to come from somewhere, and the bot is the only reason people are buying BCC to begin with and the reason the price is rising. You can't just become "profitable" by a price increase, they have liabilities that need to be paid, a stream of income that is greater than expenses. Their liabilities add up to 40% per month, which assuming the bot does not exists makes this a ponzi scheme. If they are simply selling their BCC reserves to new investors like you suggest, I suppose that would make it a pump and dump with a high degree of fraud.

If they had really found such a great way to make so much money, they wouldn't need the public to fund them. They would have gone straight to an angel investor, bank or hedge fund and got more money than they asked for. Why didn't they do this? Because that would require answering all the questions that I have already asked. This is why they are only targeting the public who are financially unsophisticated, and don't know what questions to ask and are therefore easy prey. Bitconnect is already breaking US securities law by refusing to reveal such information. All these BCC now fall under SEC regulation. Their servers are located in San Francisco and they will be shutdown unless they comply.

I honestly don't know how people can keep defending and promoting this coin. It's illegal. Who's the CEO? Who are the shareholders? You're defending a faceless company. Really? Because they have a working platform that can show your money going up? Show me a different successful anonymous company. How much lower are you willing to go? Look what happened when their exchange went down. The price tanked 75% immediately. Sure shows a lot of confidence when people are going to dump your coin like that.

Just be aware that you are part of a cult. You believe because you want to, not because anyone has proven something to you. All cults are fake. I don't know how to put it in kinder words for you. You will lose.

I don't actually have any money on the line at the moment as I'm yet to buy more BCC and only just got interest in this a week ago. You are still not understanding things if you are saying they have liabilities of 40% per month. How many times do I have to explain they are profiting from that interest rate as BCC goes up higher than that? When people lend into USD they give up the coin's value until they exchange the dollar amount back. The coin has been increasing faster than this interest rate they give you so they only need to PAY LESS BACK. They are providing a kind of service where they guarantee your capital (since they can determine the price is going to go up) and give you a lower interest rate than the coin goes up in value. The only people at risk are the coin holders if bitconnect can't sustain its value from the profits they are making with their service (which is marketed in a different way to the effective result of what really is happening). They seem to do everything to try and maintain the value and prevent any panic sells etc. so the risk should technically be lower than investing in something like bitcoin on its own as you need to keep it on an exchange and put a stop loss on it to guarantee you don't lose all your investment.

Regarding legality, they registered as a UK company. I noticed that many companies dealing in cryptocurrency only (those that don't deal with actual FIAT deposits) register in UK as it's not regulated yet regarding bitcoins so there is no law against what they are doing but I don't know what the situation in USA is. I think their recent notice mentions registering again as a private limited company (I only glanced at the announcement but I saw something like that). It will probably be in UK as I think their initial registration was probably just for show and not compliant if they aren't actually operating in UK (the scam places only register to seem legit as it probably is very easy to get a certificate with a false name). It is possible for them to legally run the same business they are doing from the UK but they will probably be more strict with identification. What many of the legitimate companies do in UK is implement KYC policies despite not legally having to do so when dealing just with cryptocurrencies. It's like a way to show they are legitimate to authorities to do it voluntarily. They may have to stop taking US deposits due to these issues in the future. This is if they want to really do this properly.

The only people at risk in their system are the coin holders who do not want to use their service to guarantee their deposit amount but their system seems to prevent the coin being dumped by tempting people into guaranteeing their deposit with interest as this also prevents them dumping the BCC for a long time and must decrease the sell pressure on the exchange and also prevents a lot of panic selling.

They wouldn't want to DUMP the coin they have in reserve unnecessarily even to take profits at times, as then exchanging the USD back after someone requests the money would be MORE EXPENSIVE RATHER THAN LESS EXPENSIVE than the original investment in BCC tokens and they may not be able to cover their liabilities and they are extracting enough profit from that. If the coin price is sustained and doesn't go down, then they will be making money even with no bot if they pay low interest rates that they can afford (even 0.25% a day is affordable as I already explained and remember the interest is always in BCC and not in USD). If the coin dumps, then remember that it's only the USD guaranteed amounts in the lending wallets that they have to cover (which is they why they should keep a USD reserve from their massive profits so far). They never have to cover the interest as that is all in BCC and goes down with the coin value unless reinvested. There is nothing Ponzi about it if you understand the system as they are profiting from sharing the growth of the coin while providing the service to guarantee the value of any investment in the lending wallet.

Let's give an example of an investment from when BCC was $100:  Investor deposits $1000 and gets 10 BCC which is lent and guarantees his deposit with interest (lets imagine capital release is 3 months even though it's about double this to show how easily they can afford it). Well historically, in three months, the interest in BCC is about another 10BCC. Bitconnect don't need to worry about covering that as it's at the investors own risk if he doesn't reinvest or withdraw (my previous calculations didn't even consider this). Now look how much the coin has increased in value by this time....say it has increased 4x (underestimate so far in 3 months as historically it's more than doubled each month on average so over 8x) then when the investor gets his $1000 back (which is ingeniously guaranteed by the system) he only gets 2.5 BCC back. Bitconnect should then convert its 7.5BCC profit into USD as a reserve (remember this is THREE TIMES their liability for the investor which shows how much of a profit they are making and how much more the investor could have got for holding the coin instead of guaranteeing its value and this doesn't include staking interest that bitconnect takes too). If BCC price crashes, then they should have enough of a reserve for all the lending wallets if they make sure they are careful with their massive profits. This is only if they want to do this the correct way.

Your reasoning is still flawed. It implies that the only way for Bitconnect to profit is through speculating on the price of their own coin and this is highly risky. Their ads clearly state there is "NO RISK" so if this was a legit company, this is not how they would operate. You are making this way too complicated and risky to operate and ignoring all the obvious signs of fraud. There's no way this can function unless they have an outside source of income, coming from a volatility bot, which they most definitely do not have.

There are more than one registered Bitconnect companies located in the world. I do not know who this UK Fitzsimmons guy is, but he is probably not part of this Bitconnect.

Seeing the angry people on Bitconnect's website isn't helping them right now.

Hi, I actually corrected it once I checked my account and realised the interest is actually paid in dollars and not BTC. That means they have to cover any interest in that lending wallet too until people withdraw... so this reduces their profits but they are still big. Like I said, even if there is no growth of the coin they can still just about cover things and at the moment they are making profit. They can estimate the growth from all their affiliates etc.  I might have to look into my post again as I just wrote it quickly but I think it's about right. (UPDATE: Actually, I think the original post was more flawed as I was trying to ignore the interest payments for some reason lol but obviously if they adjust the interest payments to the lowest for times of no growth even the staking interest covers that)

This is what I corrected it to:

The only people at risk in their system are the coin holders who do not want to use their service to guarantee their deposit amount but their system seems to prevent the coin being dumped by tempting people into guaranteeing their deposit with interest as this also prevents them dumping the BCC for a long time and must decrease the sell pressure on the exchange and also prevents a lot of panic selling.

They wouldn't want to DUMP the coin they have in reserve unnecessarily even to take profits at times, as then exchanging the USD back after someone requests the money would be MORE EXPENSIVE RATHER THAN LESS EXPENSIVE than the original investment in BCC tokens and they may not be able to cover their liabilities and they are extracting enough profit from that. If the coin price is sustained and doesn't go down, then they will be making money even with no bot if they pay low interest rates that they can afford (even 0.25% a day is affordable as I already explained). If the coin dumps, then remember that it's only the USD guaranteed amounts in the lending wallets that they have to cover (which is they why they should keep a USD reserve from their massive profits so far). There is nothing Ponzi about it if you understand the system as they are profiting from sharing the growth of the coin while providing the service to guarantee the value of any investment in the lending wallet.

Let's give an example of an investment from when BCC was $100:  Investor deposits $1000 and gets 10 BCC which is lent and guarantees his deposit with interest (lets imagine capital release is 3 months even though it's about double this to show how easily they can afford it). Well historically, in three months (I chose this for approximate period when the amount doubles), the interest at around 0.8% daily in the lending wallet is about another $1000 (it's paid incrementally so is actually less than 10 BCC if the coin goes up in value but it's not so easy to calculate- we'll get to that a bit later). Now look how much the coin has increased in value by this time....say it has increased 4x (underestimate so far in 3 months as historically it's more than doubled each month on average so over 8x) then when the investor gets his $1000 back (which is ingeniously guaranteed by the system) he only gets 2.5 BCC back. Because it is incremental, the interest cost is not so easy to calculate but if the coin has increased by 4 times, then the interest may have cost them about 5BCC instead of 10BCC but this also depends on when the customer withdraws the interest in USD into BCC (later withdrawels cost less if the coin increases in value but maybe on average it halves the amount of BCC the interest costs if the coin has gone up 4x in this period).  Bitconnect should then convert its 2.5BCC profit into USD as a reserve (remember this is around the same as their total liability for the investor which shows how much of a profit they are making and how much more the investor could have got for holding the coin instead of guaranteeing its value and this doesn't include staking interest that bitconnect takes too- but this staking interest should be for affiliate payments). If BCC price crashes, then they should have enough of a reserve for all the lending wallets if they make sure they are careful with their massive profits. This is only if they want to do this the correct way.

[MJMJ]

Your reasoning is still flawed. It implies that the only way for Bitconnect to profit is through speculating on the price of their own coin and this is highly risky. Their ads clearly state there is "NO RISK" so if this was a legit company, this is not how they would operate. You are making this way too complicated and risky to operate and ignoring all the obvious signs of fraud. There's no way this can function unless they have an outside source of income, coming from a volatility bot, which they most definitely do not have.

There are more than one registered Bitconnect companies located in the world. I do not know who this UK Fitzsimmons guy is, but he is probably not part of this Bitconnect.

Seeing the angry people on Bitconnect's website isn't helping them right now.

The UK company is actually them.

This is from the bitconnect website:

Thank you for your interest in BitConnect.

Please use contact form if you have any questions or requests, concerning our services. We would be happy to answer your questions. Enter your details and we'll get back to you shortly.

BITCONNECT LTD

 THE PANORAMA PARK STREET ASHFORD ENGLAND TN24 8EZ.

Company Number :10278342.

And this is from companies house in the UK:

BITCONNECT LTD

Company number 10278342

Follow this company
File for this company
Company Overview for BITCONNECT LTD (10278342)
Filing history for BITCONNECT LTD (10278342)
People for BITCONNECT LTD (10278342)
Registered office address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Company status
Active
Company type
Private limited Company
Incorporated on
14 July 2016
Accounts

First accounts made up to 31 July 2017
due by 14 April 2018

Confirmation statement overdue

First statement date 13 July 2017
due by 27 July 2017

Nature of business (SIC)

82990 - Other business support service activities not elsewhere classified

Filter officers
Filter officersCurrent officers
1 officer / 0 resignations

FITZSIMMONS, Ken

Correspondence address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Role ACTIVE
Director
Date of birth
June 1978
Appointed on
14 July 2016
Nationality
British
Country of residence
United Kingdom
Occupation
Business Owner

[Gleb Gamow]

Your reasoning is still flawed. It implies that the only way for Bitconnect to profit is through speculating on the price of their own coin and this is highly risky. Their ads clearly state there is "NO RISK" so if this was a legit company, this is not how they would operate. You are making this way too complicated and risky to operate and ignoring all the obvious signs of fraud. There's no way this can function unless they have an outside source of income, coming from a volatility bot, which they most definitely do not have.

There are more than one registered Bitconnect companies located in the world. I do not know who this UK Fitzsimmons guy is, but he is probably not part of this Bitconnect.

Seeing the angry people on Bitconnect's website isn't helping them right now.

The UK company is actually them.

This is from the bitconnect website:

Thank you for your interest in BitConnect.

Please use contact form if you have any questions or requests, concerning our services. We would be happy to answer your questions. Enter your details and we'll get back to you shortly.

BITCONNECT LTD

 THE PANORAMA PARK STREET ASHFORD ENGLAND TN24 8EZ.

Company Number :10278342.

And this is from companies house in the UK:

BITCONNECT LTD

Company number 10278342

Follow this company
File for this company
Company Overview for BITCONNECT LTD (10278342)
Filing history for BITCONNECT LTD (10278342)
People for BITCONNECT LTD (10278342)
Registered office address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Company status
Active
Company type
Private limited Company
Incorporated on
14 July 2016
Accounts

First accounts made up to 31 July 2017
due by 14 April 2018

Confirmation statement overdue

First statement date 13 July 2017
due by 27 July 2017

Nature of business (SIC)

82990 - Other business support service activities not elsewhere classified

Filter officers
Filter officersCurrent officers
1 officer / 0 resignations

FITZSIMMONS, Ken

Correspondence address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Role ACTIVE
Director
Date of birth
June 1978
Appointed on
14 July 2016
Nationality
British
Country of residence
United Kingdom
Occupation
Business Owner

And therein lies the rub. From the get-go, clearly BitConnect wanted its marks assured that they're dealing with a "real" company, hence depicting their charter.

When it became evident that no such person could be sourced at the given address, the marks then resorted to claiming that's a non-issue with Ken F. being Satoshi-esque. So what if the folks behind BitConnect lied when filling out their charter. Besides, we were all able to register on their platform anonymously thanks to the way they structured their company. It's not like tomorrow they're going to change that aspect and register again under the auspices of a for-real company where they'll have to comply with KYC et al. laws. WAIT, BREAKING NEWS !!!

Give an Investard a rope, and hell hang himself. Give an Investard a bunch of rope, and he'll help onboard other Investards so to hang themselves, some even their own German grandmother <looking at you, JetiKnight>.

[ChromaticStar]

Your reasoning is still flawed. It implies that the only way for Bitconnect to profit is through speculating on the price of their own coin and this is highly risky. Their ads clearly state there is "NO RISK" so if this was a legit company, this is not how they would operate. You are making this way too complicated and risky to operate and ignoring all the obvious signs of fraud. There's no way this can function unless they have an outside source of income, coming from a volatility bot, which they most definitely do not have.

There are more than one registered Bitconnect companies located in the world. I do not know who this UK Fitzsimmons guy is, but he is probably not part of this Bitconnect.

Seeing the angry people on Bitconnect's website isn't helping them right now.

The UK company is actually them.

This is from the bitconnect website:

Thank you for your interest in BitConnect.

Please use contact form if you have any questions or requests, concerning our services. We would be happy to answer your questions. Enter your details and we'll get back to you shortly.

BITCONNECT LTD

 THE PANORAMA PARK STREET ASHFORD ENGLAND TN24 8EZ.

Company Number :10278342.

And this is from companies house in the UK:

BITCONNECT LTD

Company number 10278342

Follow this company
File for this company
Company Overview for BITCONNECT LTD (10278342)
Filing history for BITCONNECT LTD (10278342)
People for BITCONNECT LTD (10278342)
Registered office address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Company status
Active
Company type
Private limited Company
Incorporated on
14 July 2016
Accounts

First accounts made up to 31 July 2017
due by 14 April 2018

Confirmation statement overdue

First statement date 13 July 2017
due by 27 July 2017

Nature of business (SIC)

82990 - Other business support service activities not elsewhere classified

Filter officers
Filter officersCurrent officers
1 officer / 0 resignations

FITZSIMMONS, Ken

Correspondence address
The Panorama, Park Street, Ashford, England, TN24 8EZ
Role ACTIVE
Director
Date of birth
June 1978
Appointed on
14 July 2016
Nationality
British
Country of residence
United Kingdom
Occupation
Business Owner

Personally I think the man behind the company is Yuris Prasetya, a known ponzi scammer. Bitconnect has admitted he's part of their team and he used to promote OneCoin, another massive ponzi.

[Gleb Gamow]

Gleb I know you posted about this a lot and I probably haven't read most of the earlier posts but bitconnect always advertised variable interest up to 40% per month. I already showed how sustainable it is so that they can take profits during up days to pay for the down days. They were actually profiting from the lending system and not losing money, simply from the growth of the coin value. If the growth slowed they would have accumulated funds as a reserve. They also had lots of BCC coins reserved too gaining lots of interest. The affiliate program was actually paid for by the staking interest built into the coin since lenders have to give this growth up to bitconnect so bitconnect can use this to pay affliates. I'm probably not making it very clear but they didn't have a bad business model in my view and it didn't necessarily involve talking money from new investors. You seem happy about their possible closure but what about people who have invested? There was no reason for them to close while they were making genuine profits from the coin demand.

who says they are done??
bitconnect token already passing all these other shit coins like eos and the rest of this crap

bitconnect will be back up in a few minutes and back to business

dont panic cause of some weirdos running their mouth here on the forum that have no idea what they talking about

Captain Weirdo, who doesn't have any idea what I'm talking about, checking in to expose bitconnect-worldwide's sockpuppet --> https://bitcointalk.org/index.php?action=trust;u=923020

I dare him to deny it.

Bruno

PS: I double dare him.

PSS: I triple date him.

[Gleb Gamow]

Personally I think the man behind the company is Yuris Prasetya, a known ponzi scammer. Bitconnect has admitted he's part of their team and he used to promote OneCoin, another massive ponzi.

Nailed it!

https://www.linkedin.com/in/yuris-prasetya-a6395944/

"Come to BitConnect, BitConnect is fun, come right now, don't walk - run!"

[IronSongie]

The thing about Bitconnect vs things like Ambis is with Ambis, Bitcoin goes in, more Bitcoins come out...with nothing in-between as a buffer other than a supposed "trading bot".

But Bitconnect owns 4.8m of its own coins out of 7m or so that exist that stake another 384.000 coins into existence every period, that is not including the coins that are in the system, locked down for 299 days at a time, these are also staking out for that 299 days turning into more coins for them.

So basically they are at this time of me typing this staking coins into existence coins that are worth 122$ without the required need to supply power and computer rigs to dig them out of the network.
In current numbers they would have 585.600.000$ in coins and 46.848.000$ get staked into their own BCC wallet every period of staking, without any expenses that they need to pay to farm them.

Now the way people get in is that they use Bitcoins to buy up those BCC from people exciting Bitconnect, let's say i had a good day, i pull 100$ out of Bitconnects butt and a new guy buys my BCC and enters the platform. More and more coins enter the platform, get locked up into it, for us they turn into a % gain each day, for bitconnect they turn into additional stake coins, making them the biggest claimers of staked coins out there. Supply and Demand take care of the rest, as more coins get locked up, price of the coin goes up and at the end of the day they pay us back an imaginary $ value in their system, that then gets transfered to a BCC that has such a value and then we cash out by someone entering the system again through a bitcoin or if they need to have funds sell their own coins onto the market.

Sites like Ambis have like what to work with, if they are a ponzi scheme? their own start capital to pay the first few days ?, or just the money coming in, until money starts rolling in vs Bitconnects 585.000.000$ of assets.  Now i am not a math wizard, but if i were to do a ponzi (and i am not) and i am sitting on 585.600.000$ worth of coins, I would have been out of this game 500.000.000m ago, maybe this a long con and they need to sell the coins discreetly as not to crash the market but that would hinder their staking at some point, forcing their hand to excit devalue the coin while doing it.

I also doubt that the BCC they get each day from staking are all used up in paying out people, the volume in the last 24h is only 4.1m$ and 90% was on their own exchange, that you know they control, so in need to stay liquid they had to sell 410.000$ out of 1.500.000$ coins that they staked that day from their 4.8m coins, so not counting coins from people in their system. More than likely that amount is double and most of it is reinvested so they get more stakes for it. Oh and around a 1-2m $ in profits each day.

I honestly don't know if they have a bot, but at this point it's not really needed because the eco system keeps itself in check, coins are locked and a 10% circuit breaker prevents panic sales and they take a cut from the exchanges on their own platform. Its Genius really, the only way this ends if it's a scam when they don't have a trading bot is when the Staking time is over, which is going to be until Dec 2019 or when people lose faith in it.

But if say by then the coin is worth as much as a bitcoin and they still control 90% of the coins, their last month December 2019 they stake the last few coins that are on their platform,  then the coins for that stake would be worth 1.411.200.000$. (I know speculation but the BCC did go from 8$ to 130$ in 3 months)

So however you turn it, Bitconnect pretty much prints money until Dec 2019.
 

[Airstriker]

The thing about Bitconnect vs things like Ambis is with Ambis, Bitcoin goes in, more Bitcoins come out...with nothing in-between as a buffer other than a supposed "trading bot".

But Bitconnect owns 4.8m of its own coins out of 7m or so that exist that stake another 384.000 coins into existence every period, that is not including the coins that are in the system, locked down for 299 days at a time, these are also staking out for that 299 days turning into more coins for them.

So basically they are at this time of me typing this staking coins into existence coins that are worth 122$ without the required need to supply power and computer rigs to dig them out of the network.
In current numbers they would have 585.600.000$ in coins and 46.848.000$ get staked into their own BCC wallet every period of staking, without any expenses that they need to pay to farm them.

Now the way people get in is that they use Bitcoins to buy up those BCC from people exciting Bitconnect, let's say i had a good day, i pull 100$ out of Bitconnects butt and a new guy buys my BCC and enters the platform. More and more coins enter the platform, get locked up into it, for us they turn into a % gain each day, for bitconnect they turn into additional stake coins, making them the biggest claimers of staked coins out there. Supply and Demand take care of the rest, as more coins get locked up, price of the coin goes up and at the end of the day they pay us back an imaginary $ value in their system, that then gets transfered to a BCC that has such a value and then we cash out by someone entering the system again through a bitcoin or if they need to have funds sell their own coins onto the market.

Sites like Ambis have like what to work with, if they are a ponzi scheme? their own start capital to pay the first few days ?, or just the money coming in, until money starts rolling in vs Bitconnects 585.000.000$ of assets.  Now i am not a math wizard, but if i were to do a ponzi (and i am not) and i am sitting on 585.600.000$ worth of coins, I would have been out of this game 500.000.000m ago, maybe this a long con and they need to sell the coins discreetly as not to crash the market but that would hinder their staking at some point, forcing their hand to excit devalue the coin while doing it.

I also doubt that the BCC they get each day from staking are all used up in paying out people, the volume in the last 24h is only 4.1m$ and 90% was on their own exchange, that you know they control, so in need to stay liquid they had to sell 410.000$ out of 1.500.000$ coins that they staked that day from their 4.8m coins, so not counting coins from people in their system. More than likely that amount is double and most of it is reinvested so they get more stakes for it. Oh and around a 1-2m $ in profits each day.

I honestly don't know if they have a bot, but at this point it's not really needed because the eco system keeps itself in check, coins are locked and a 10% circuit breaker prevents panic sales and they take a cut from the exchanges on their own platform. Its Genius really, the only way this ends if it's a scam when they don't have a trading bot is when the Staking time is over, which is going to be until Dec 2019 or when people lose faith in it.

But if say by then the coin is worth as much as a bitcoin and they still control 90% of the coins, their last month December 2019 they stake the last few coins that are on their platform,  then the coins for that stake would be worth 1.411.200.000$. (I know speculation but the BCC did go from 8$ to 130$ in 3 months)

So however you turn it, Bitconnect pretty much prints money until Dec 2019.
 

You put it nicely in a few words, but you know what? They don't understand it anyway ;] They don't want to listen to the simple facts and math. It's really simple and genious but they don't care. Ponzi aaaaa.

[AGM76]

As I demonstrated, the freaky thing is they don't even need any of this staking interest or buffer of millions of coins. Their lending is generally profitable in itself as long as the total BCC the customer gets back from the imaginary dollars capital and interest, is less than the amount of BCC the customer paid in for and this IS ALWAYS TRUE if the coin goes up at a greater rate than the interest they provide (which they can easily predict and adjust rates to compensate). Bitconnect are not giving people free BCC with the lending system done properly, they are accumulating more and more (I think they should take these BCC profits into USD or BTC at least to act as a buffer for when things go wrong for the coin). If they do keep the profit in BCC it also reduces the supply for everyone else with the obvious consequences of that. I don't see any downside of their system and they have ridiculous reserves.

The thing about Bitconnect vs things like Ambis is with Ambis, Bitcoin goes in, more Bitcoins come out...with nothing in-between as a buffer other than a supposed "trading bot".

But Bitconnect owns 4.8m of its own coins out of 7m or so that exist that stake another 384.000 coins into existence every period, that is not including the coins that are in the system, locked down for 299 days at a time, these are also staking out for that 299 days turning into more coins for them.

So basically they are at this time of me typing this staking coins into existence coins that are worth 122$ without the required need to supply power and computer rigs to dig them out of the network.
In current numbers they would have 585.600.000$ in coins and 46.848.000$ get staked into their own BCC wallet every period of staking, without any expenses that they need to pay to farm them.

Now the way people get in is that they use Bitcoins to buy up those BCC from people exciting Bitconnect, let's say i had a good day, i pull 100$ out of Bitconnects butt and a new guy buys my BCC and enters the platform. More and more coins enter the platform, get locked up into it, for us they turn into a % gain each day, for bitconnect they turn into additional stake coins, making them the biggest claimers of staked coins out there. Supply and Demand take care of the rest, as more coins get locked up, price of the coin goes up and at the end of the day they pay us back an imaginary $ value in their system, that then gets transfered to a BCC that has such a value and then we cash out by someone entering the system again through a bitcoin or if they need to have funds sell their own coins onto the market.

Sites like Ambis have like what to work with, if they are a ponzi scheme? their own start capital to pay the first few days ?, or just the money coming in, until money starts rolling in vs Bitconnects 585.000.000$ of assets.  Now i am not a math wizard, but if i were to do a ponzi (and i am not) and i am sitting on 585.600.000$ worth of coins, I would have been out of this game 500.000.000m ago, maybe this a long con and they need to sell the coins discreetly as not to crash the market but that would hinder their staking at some point, forcing their hand to excit devalue the coin while doing it.

I also doubt that the BCC they get each day from staking are all used up in paying out people, the volume in the last 24h is only 4.1m$ and 90% was on their own exchange, that you know they control, so in need to stay liquid they had to sell 410.000$ out of 1.500.000$ coins that they staked that day from their 4.8m coins, so not counting coins from people in their system. More than likely that amount is double and most of it is reinvested so they get more stakes for it. Oh and around a 1-2m $ in profits each day.

I honestly don't know if they have a bot, but at this point it's not really needed because the eco system keeps itself in check, coins are locked and a 10% circuit breaker prevents panic sales and they take a cut from the exchanges on their own platform. Its Genius really, the only way this ends if it's a scam when they don't have a trading bot is when the Staking time is over, which is going to be until Dec 2019 or when people lose faith in it.

But if say by then the coin is worth as much as a bitcoin and they still control 90% of the coins, their last month December 2019 they stake the last few coins that are on their platform,  then the coins for that stake would be worth 1.411.200.000$. (I know speculation but the BCC did go from 8$ to 130$ in 3 months)

So however you turn it, Bitconnect pretty much prints money until Dec 2019.
 

[uscoin1]

BTC withdrawal DOES NOT work.  It just spins at the confirm button and Errors out. 

You can not withdraw Bitcoin from their Site now.

[bambarmia]

BTC withdrawal DOES NOT work.  It just spins at the confirm button and Errors out. 

You can not withdraw Bitcoin from their Site now.

Nobody is able to withdraw and nobody will be... This people stole your money !   Just go, get banjaxed with some vodka and forget about your money.

[Papski]

BTC withdrawal DOES NOT work.  It just spins at the confirm button and Errors out. 

You can not withdraw Bitcoin from their Site now.

Yes, I congratulate you for being part of their scheme and making them richer. You and along with the others deserves to get screwed by them.

[Gleb Gamow]

Let me just leave this right here so that BitConnecters have more proof that I'm a fuckin retard:

Trendon Shavers (known as Pirateat40 or simply Pirate) was the operator of the largest scam in bitcoin history: he operated a ponzi scheme[1][2] which initially promised a guaranteed a daily profit of 1%, and then disappeared with an unknown amount of bitcoins in August 2012. Thoughts were that the amount was about 500,000 bitcoins, valued around US $5 million at the time. These amounts were soon quashed once investigators realized a large hoard of coins found in their analysis did not belong to Pirate, but instead to a black market website with which Pirate used to mix his funds to hide the actual amounts he had held/stolen.

...

https://bitcointalk.org/index.php?topic=50822.msg615018#msg615018

In the voice of Team BitConnect: Trendon Shavers can't hold a candle to what we're gonna pull off.

[Gleb Gamow]

https://www.youtube.com/watch?v=sW5O2GUriYY&feature=youtu.be&t=360

Tell me if you can find any holes in this dude's story:

Dude is a DJ and has a real estate license but his buds wanna know how he makes so much money online.

Daily videos showing my passive income investments, and reviews of new Online Income programs like Bitconnect, Questra World, & Aurum Bank. Check out the Passive Profits Series!

He tells them.

They want in.

They give him a U$100,000 to invest.

Dude shows his recent US100 investment on BitConnect's platform and proceeds to fund the site a little at a time so not to move the BCC price too much. This, after he converted the U$100K to BTC, by what means, who knows.

In about a day, the newly created account is funded, and he's about to hit the invest button on BitConnect.

But first, he needs to read the ToS, thinking it prudent to do such prior to submission. He also thinks it's prudent for his investors to read the ToS so that they know what they're getting into. <link above is for this point in the vid>

All investors agree and it's a go.

Click.

Aaaaaaaaaaand it's gone!


So, are you telling me that some investors gave this yo-yo a hundred grand where nary a one of them read the ToS? According to this yo-yo, he didn't even read it when he supposedly sent his personal initial hundred bucks. Then after reading it, they still let the investment go through.

Here's his course: http://urbanschool.com/course/mixing-mastering-supercourse/