[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[IronSongie]

How do you know that they could easily afford to pay off all the lenders immediately? They are not transparent with this kind of information. Only way you could know that they can afford to pay off all the lenders is if you blindly trust them without them providing any evidence, knowledge or information. Being positive is generally great, but being too positive is ignorance and ignorance is evil, the only good is knowledge.

Its basic math really, if i bought 10010$ worth of Bitconnect in may, i would have gotten 1250 ish coins for 8$ each, staking these coins would have provided me with an additional 300-400 coins, my total amount of coins + extra minted coins would be worth a total value of 214.000$ dollar if i sold them now 120 days later.

Now if i lended it into the Bitconnect platform for 120 days like most did, bitconnect pays back the principal amount of 10000 + around 18.000 in acrued profit from lending it to bitconnect, so after 4 months i get back 28.000$, bitconnect who has been staking "your" coins all this time makes 186.500$ as they only need to return 215 out 1250 invested coins back to you at the current value of 130$ per coin.

Also, if they keep the other 1035 coins as their reserve, these coins also mint an additional 82.8 coins per minting period, again 10.764$ in the pocket of Bitconnect and this process keeps going as the coin rises in price they need to give back less and less of it, so they acrue most of the minted stakes themselves, causing a snowball effect.

For bigger invested amounts the math stays the same, they just made more money and we people are happy with 1% per day without the risk of the coin collapsing, in this instance Bitconnect is the bag holder, it just turns out to be making profit holding them and they make money of people trading on their site aswell. (Which translates to roughly 530.000$ monthly aswell)

I personally dont know if they have a bot, but they could just run a half assed Gunbot at this point in time, they have the funds to play with and a Gunbot isnt really rocket science either, now compare this system they have in place vs a bitcoin doubler site, bitcoin goes in, more bitcoin comes out is completely diffrent, that why i personally won,t go near sites like thunderbit, Ambis, Control Finance etc on those sites, there is no basic math that you can do to them to see if they are making any money, they just have a "bot" and that supposedly pays out 10% profit a day.

Yes it have indeed kind of worked so far because the amount of users, lenders, holders and stakers of BitConnect have been rapidly increasing BUT try do that same math with decreasing or stagnant amounts and you will understand that it is a ponzi scheme because it will not work anymore when the amount of new money comming in stop rapidly increasing, they would not even be able to pay back the lenders when the amount of new users, lenders, holders and stakers start decreasing or stay stagnant instead of rapidly increasing.


Let me provide you an example what will happen when the amount of new money stays stagnant so the price of BitConnect tokens remain the same. Lets imagine it stays stagnant from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 13200$ dollar if I sold them 120 days later.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 14832$(18000-3168) as they need to return 76 out 100 invested coins back to you at the current value of 132$ per coin. So from a 10010$ loan they make a net loss of 14832$.


Now an example of what will happen if the amount of new money decrease hard so the price drops 50% to 66$. Lets imagine it is decreased from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 6600$ dollar if I sold them 120 days later at the price of 66$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 16416$(18000-1584) as they need to return 76 out 100 invested coins back to you at the current value of 66$ per coin. So from a 10010$ loan they make a net loss of 16416$.


Now an example of what will happen if the amount of new money increase "slowly" so the price drops doubles to 264$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 26400$ dollar if I sold them 120 days later at the price of 264$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 11664$(18000-6336) as they need to return 76 out 100 invested coins back to you at the current value of 264$ per coin. So from a 10010$ loan they make a net loss of 11664$.


Now an example of what will happen if the amount of new money increase "decently" so the price drops quadruple to 528$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 52800$ dollar if I sold them 120 days later at the price of 528$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 5328$(18000-12672) as they need to return 76 out 100 invested coins back to you at the current value of 528$ per coin. So from a 10010$ loan they make a net loss of 5328$.


As you can see the system is not long term sustainable at all, the price of BitConnect token would need to octuple every 120 days for BitConnect to turn a profit. This might work for a while, probably max 1-2 years and after that BitConnect will start bleeding money and become insolvent and lenders will get a huge haircut or straight up lose all their money.

Also your approach is wrong and you are a little bit confused. The BitConnect tokens deflates an equal amount so you don't really gain anything when you get new tokens from staking because the price goes down an equal amount. When the price remains the same or goes up in value its because of an increasing number of new money entering BitConnect.

Imaginary example for even a dumb person to understand this:
Lets say 1$=1€
Lets say in the world there a total of 100$ and 100€
Lets say 100$ more is printed so there is a total of 200$ in the world
Now 2$=1€ instead of 1$=1€

Kudos for writing all that out, but i only did an example on my own loan,

Bitconnect owns 4.8 million set aside of their own coins witch are worth of 624m $, not counting other loaned coins in their possesion as only around 4m $ is traded each day, maybe a bit more now, those 4.8m coins mint 384.000 coins on their own which is another 49.920.000$ every minting period and those coins have nothing todo with personal loans, they have been minting coins since it started.

even if the coin would drop by 50%, that just means they are minting 25.000.000$ on their own, while only needing to give you 28.000$ after a 4 month period out of their 100-200m minted gains, so even if their coin drops they still make a profit and can pay their users.

Unless the coin deflates completely, its not going to be an issue, but then bitconnect has the cirquit breaker and supply and demand to control the coin, as more and more coins get reinvested and locked away for 299 days, coins are in a natural state of short supply.

So unless they actually shut down and run with their 600m $ the coin is not going to deflate if they keep paying us 1% peanuts to the truckloads of money they are making.

And if they are smart, which they are, seeing they came up with this coin, they are going to make a lot more if they support the coin going up while staying legit.

Maybe it started as a big ICO scam and they are like ow fuck, this is making us boatloads of money, we don't know. But any busness that stagnates like you said ie no new work coming in dies, its the same for a big building company, they loose a big contract and they need to shut down, if people lose faith in bitconnect it will shut down like any other busness.

As you make it seem i am the "Dumb" person here, might i remind you that you just used my "basic math" with a few diffrent numbers tacked to it as opposed to writing up your own "basic math", Monkey see, Monkey does i suppose.

Edit: also most of your examples and text doesnt make any sense, if the coin value goes up to 528$ per coin and they need to pay out 28.000$ they dont pay you back 76 coins, they give you back 53 coins, the staked coins will also only be 6 instead of 24, they keep 29 of the coins which are worth 15.312$, less profit, but still not too bad because the leverage from 132$ to 528$ vs 8 to 130$ is only 4 times more as opposed to 16x.

Now i know why most people don't get it, their "basic" math is wrong.

[scorpio18]

anyone mining this coin via bcc.coin-miners.info?

are there any extra settings? to set the difficulty on L3+


Also, there isn't a BCC wallet in andoird anymore?

Hello

You don't need to set anything for the difficulty because the stratum will decide what difficulty to set for your miner just use this stratum port  to mine 6432




By the way i provide 2 types of pools , one is PPLNS https://bcc.coin-miners.info  and the second one is PROP  https://bccprop.coin-miners.info/

thanks, what are the differences? also, I will have 100 L3+ pointing to your pool.
do i need to add all the workers before i point them there? i heard on some websites that it better to set difficulty as 130k

do you do payout directly to other coins?

Use this pool to mine https://bcc.coin-miners.info/  and for the workers it will auto create the worker you choose on your miner  you just need to use as a username Weblogin.WorkerName , if you get worker login error try it again it should work

[AGM76]

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


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

[ChromaticStar]

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


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

What are you even saying? Listen to yourself. OneCoin is the definition of a ponzi scheme and it almost sounds like you're saying that they could be a legit company? Then change your mind half way through your post? You are really starting to lose all credibility.

Why do you keep saying that Bitconnect has reserves? BCC is not a reserve asset, it's worthless without the Bitconnect platform. If you created your own currency, owned 90% of the market and then marked-to-market your coins and claimed solvency, you'd be another cryptoscammer yourself. You need liquidity something to have value, BCC does not have enough liquidity! You don't understand macroeconomics in the slightest if this is what you are saying. The only assets that Bitconnect has enough liquidity to be a reserve asset are dollars, assuming they have a bot (and they don't), and BTC. Do you know how many dollars and BTC they have? Probably not since they do not share this information publicly.

[balloontree]

Use this pool to mine https://bcc.coin-miners.info/  and for the workers it will auto create the worker you choose on your miner  you just need to use as a username Weblogin.WorkerName , if you get worker login error try it again it should work

do i need to input password when i try to log in without creating a worker?

[AGM76]

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

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

[Gleb Gamow]

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


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

What are you even saying? Listen to yourself. OneCoin is the definition of a ponzi scheme and it almost sounds like you're saying that they could be a legit company? Then change your mind half way through your post? You are really starting to lose all credibility.

Why do you keep saying that Bitconnect has reserves? BCC is not a reserve asset, it's worthless without the Bitconnect platform. If you created your own currency, owned 90% of the market and then marked-to-market your coins and claimed solvency, you'd be another cryptoscammer yourself. You need liquidity something to have value, BCC does not have enough liquidity! You don't understand macroeconomics in the slightest if this is what you are saying. The only assets that Bitconnect has enough liquidity to be a reserve asset are dollars, assuming they have a bot (and they don't), and BTC. Do you know how many dollars and BTC they have? Probably not since they do not share this information publicly.

We may not know how many dollars BitConnect has on reserve in their undisclosed bank account, but we have a strong idea as to how many bitcoins they possess thanks to ... wait for it ... the blockchain:

https://www.walletexplorer.com/wallet/07d4964e704c33dc

BitConnect's business model:

- Create a brand new token that has no value.
- Create a buzz centered around the newly created worthless token.
- Sell shares of the token to marks for bitcoins and keep the bitcoins offline, not invested anywhere.
- Convince the marks to loan their purchased token shares back to BitConnect.
- Promise to give the marks a guaranteed 30% per month interest on their loans payable via their newly created token.
- Regularly payout on loans to bestow trust thanks to some magically bot that Nobel Laureates would die for.
- Jack off all over yourself when reading the words of your most loyal marks explain away reality.
- Continue the process till time to close up shop, namely when running out of marks, causing the bot hamster spinning the wheel to starve to death.
- Unknown entity of BitConnect rides into the sunset on its happy stead, Clover, with its saddle bags filled with bitcoins.
- Former Investards of BitConnect seek a new venture to invest their money.
- The former entity behind BitConnect hears their cries and builds such a venture, complete with a new robust hamster.
- The saga continues.

Stay tuned next week for ...

"Jesus, kick me in my balls!"

[ChromaticStar]

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


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

What are you even saying? Listen to yourself. OneCoin is the definition of a ponzi scheme and it almost sounds like you're saying that they could be a legit company? Then change your mind half way through your post? You are really starting to lose all credibility.

Why do you keep saying that Bitconnect has reserves? BCC is not a reserve asset, it's worthless without the Bitconnect platform. If you created your own currency, owned 90% of the market and then marked-to-market your coins and claimed solvency, you'd be another cryptoscammer yourself. You need liquidity something to have value, BCC does not have enough liquidity! You don't understand macroeconomics in the slightest if this is what you are saying. The only assets that Bitconnect has enough liquidity to be a reserve asset are dollars, assuming they have a bot (and they don't), and BTC. Do you know how many dollars and BTC they have? Probably not since they do not share this information publicly.

We may not know how many dollars BitConnect has on reserve in their undisclosed bank account, but we have a strong idea as to how many bitcoins they possess thanks to ... wait for it ... the blockchain:

https://www.walletexplorer.com/wallet/07d4964e704c33dc

BitConnect's business model:

- Create a brand new token that has no value.
- Create a buzz centered around the newly created worthless token.
- Sell shares of the token to marks for bitcoins and keep the bitcoins offline, not invested anywhere.
- Convince the marks to loan their purchased token shares back to BitConnect.
- Promise to give the marks a guaranteed 30% per month interest on their loans payable via their newly created token.
- Regularly payout on loans to bestow trust thanks to some magically bot that Nobel Laureates would die for.
- Jack off all over yourself when reading the words of your most loyal marks explain away reality.
- Continue the process till time to close up shop, namely when running out of marks, causing the bot hamster spinning the wheel to starve to death.
- Unknown entity of BitConnect rides into the sunset on its happy stead, Clover, with its saddle bags filled with bitcoins.
- Former Investards of BitConnect seek a new venture to invest their money.
- The former entity behind BitConnect hears their cries and builds such a venture, complete with a new robust hamster.
- The saga continues.

Stay tuned next week for ...

"Jesus, kick me in my balls!"

I don't go into chain analysis that much, so I don't know how dependable it is. Can we be sure this is all the BTC they have? Would they really only have one address? If so, they are drastically fractional reserve. Without a bot, that makes them extremely insolvent. This is obviously expected. I wonder how long they'll last?

[Analogplutonium]

if it's a ponzi it's one of the most clever ones I have found recently.

[Gleb Gamow]

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


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

What are you even saying? Listen to yourself. OneCoin is the definition of a ponzi scheme and it almost sounds like you're saying that they could be a legit company? Then change your mind half way through your post? You are really starting to lose all credibility.

Why do you keep saying that Bitconnect has reserves? BCC is not a reserve asset, it's worthless without the Bitconnect platform. If you created your own currency, owned 90% of the market and then marked-to-market your coins and claimed solvency, you'd be another cryptoscammer yourself. You need liquidity something to have value, BCC does not have enough liquidity! You don't understand macroeconomics in the slightest if this is what you are saying. The only assets that Bitconnect has enough liquidity to be a reserve asset are dollars, assuming they have a bot (and they don't), and BTC. Do you know how many dollars and BTC they have? Probably not since they do not share this information publicly.

We may not know how many dollars BitConnect has on reserve in their undisclosed bank account, but we have a strong idea as to how many bitcoins they possess thanks to ... wait for it ... the blockchain:

https://www.walletexplorer.com/wallet/07d4964e704c33dc

BitConnect's business model:

- Create a brand new token that has no value.
- Create a buzz centered around the newly created worthless token.
- Sell shares of the token to marks for bitcoins and keep the bitcoins offline, not invested anywhere.
- Convince the marks to loan their purchased token shares back to BitConnect.
- Promise to give the marks a guaranteed 30% per month interest on their loans payable via their newly created token.
- Regularly payout on loans to bestow trust thanks to some magically bot that Nobel Laureates would die for.
- Jack off all over yourself when reading the words of your most loyal marks explain away reality.
- Continue the process till time to close up shop, namely when running out of marks, causing the bot hamster spinning the wheel to starve to death.
- Unknown entity of BitConnect rides into the sunset on its happy stead, Clover, with its saddle bags filled with bitcoins.
- Former Investards of BitConnect seek a new venture to invest their money.
- The former entity behind BitConnect hears their cries and builds such a venture, complete with a new robust hamster.
- The saga continues.

Stay tuned next week for ...

"Jesus, kick me in my balls!"

I don't go into chain analysis that much, so I don't know how dependable it is. Can we be sure this is all the BTC they have? Would they really only have one address? If so, they are drastically fractional reserve. Without a bot, that makes them extremely insolvent. This is obviously expected. I wonder how long they'll last?

The best I can figure is that BitConnect is currently sitting on ~U$48,000,000 in bitcoins, with the ONLY coinage entering and leaving their platform is BCC - bitcoin never leaving.

[ChromaticStar]

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


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

What are you even saying? Listen to yourself. OneCoin is the definition of a ponzi scheme and it almost sounds like you're saying that they could be a legit company? Then change your mind half way through your post? You are really starting to lose all credibility.

Why do you keep saying that Bitconnect has reserves? BCC is not a reserve asset, it's worthless without the Bitconnect platform. If you created your own currency, owned 90% of the market and then marked-to-market your coins and claimed solvency, you'd be another cryptoscammer yourself. You need liquidity something to have value, BCC does not have enough liquidity! You don't understand macroeconomics in the slightest if this is what you are saying. The only assets that Bitconnect has enough liquidity to be a reserve asset are dollars, assuming they have a bot (and they don't), and BTC. Do you know how many dollars and BTC they have? Probably not since they do not share this information publicly.

We may not know how many dollars BitConnect has on reserve in their undisclosed bank account, but we have a strong idea as to how many bitcoins they possess thanks to ... wait for it ... the blockchain:

https://www.walletexplorer.com/wallet/07d4964e704c33dc

BitConnect's business model:

- Create a brand new token that has no value.
- Create a buzz centered around the newly created worthless token.
- Sell shares of the token to marks for bitcoins and keep the bitcoins offline, not invested anywhere.
- Convince the marks to loan their purchased token shares back to BitConnect.
- Promise to give the marks a guaranteed 30% per month interest on their loans payable via their newly created token.
- Regularly payout on loans to bestow trust thanks to some magically bot that Nobel Laureates would die for.
- Jack off all over yourself when reading the words of your most loyal marks explain away reality.
- Continue the process till time to close up shop, namely when running out of marks, causing the bot hamster spinning the wheel to starve to death.
- Unknown entity of BitConnect rides into the sunset on its happy stead, Clover, with its saddle bags filled with bitcoins.
- Former Investards of BitConnect seek a new venture to invest their money.
- The former entity behind BitConnect hears their cries and builds such a venture, complete with a new robust hamster.
- The saga continues.

Stay tuned next week for ...

"Jesus, kick me in my balls!"

I don't go into chain analysis that much, so I don't know how dependable it is. Can we be sure this is all the BTC they have? Would they really only have one address? If so, they are drastically fractional reserve. Without a bot, that makes them extremely insolvent. This is obviously expected. I wonder how long they'll last?

The best I can figure is that BitConnect is currently sitting on ~U$48,000,000 in bitcoins, with the ONLY coinage entering and leaving their platform is BCC - bitcoin never leaving.

That is just great!

We can be sure there is no bot, so that is effectively the left side of the balance sheet. Who knows what is on the right side, but since it is growing at 30-40% per month with their interest rates it is definitely larger than the left! Unless BTC is growing at a faster rate than that, there is no way they are solvent.

I wonder how leveraged they are? It's always a good way to predict implosion.

[Filmmmakerr]

Is there anyone here that actually believes BCC not to be a Ponzi? Its definitely a temping investment.

[boulard83]

Is there anyone here that actually believes BCC not to be a Ponzi? Its definitely a temping investment.

it's a ponzy but there is money to make there as long as it dont fall before you make actual money.

[BonTonPlease]

Is there anyone here that actually believes BCC not to be a Ponzi? Its definitely a temping investment.

it's a ponzy but there is money to make there as long as it dont fall before you make actual money.

Why exactly is it a ponzi? Can you quickly explain in a comprehensible way how you derive that conclusion?

[Gleb Gamow]

Is there anyone here that actually believes BCC not to be a Ponzi? Its definitely a temping investment.

it's a ponzy but there is money to make there as long as it dont fall before you make actual money.

Why exactly is it a ponzi? Can you quickly explain in a comprehensible way how you derive that conclusion?

[boulard83]

Is there anyone here that actually believes BCC not to be a Ponzi? Its definitely a temping investment.

it's a ponzy but there is money to make there as long as it dont fall before you make actual money.

Why exactly is it a ponzi? Can you quickly explain in a comprehensible way how you derive that conclusion?

https://chainz.cryptoid.info/bcc/#!rich

very few people are making big money out of alot of people. One day those few people will get away with alot of money and all of those who have money locked for 299 days will lose it. Tomorow, in 2 months, in 6 months, in 2 year, who know but it will happen !

[scorpio18]

Use this pool to mine https://bcc.coin-miners.info/  and for the workers it will auto create the worker you choose on your miner  you just need to use as a username Weblogin.WorkerName , if you get worker login error try it again it should work

do i need to input password when i try to log in without creating a worker?

You can input whatever password you want the stratum is not checking the password

[stupido656]

How do you know that they could easily afford to pay off all the lenders immediately? They are not transparent with this kind of information. Only way you could know that they can afford to pay off all the lenders is if you blindly trust them without them providing any evidence, knowledge or information. Being positive is generally great, but being too positive is ignorance and ignorance is evil, the only good is knowledge.

Its basic math really, if i bought 10010$ worth of Bitconnect in may, i would have gotten 1250 ish coins for 8$ each, staking these coins would have provided me with an additional 300-400 coins, my total amount of coins + extra minted coins would be worth a total value of 214.000$ dollar if i sold them now 120 days later.

Now if i lended it into the Bitconnect platform for 120 days like most did, bitconnect pays back the principal amount of 10000 + around 18.000 in acrued profit from lending it to bitconnect, so after 4 months i get back 28.000$, bitconnect who has been staking "your" coins all this time makes 186.500$ as they only need to return 215 out 1250 invested coins back to you at the current value of 130$ per coin.

Also, if they keep the other 1035 coins as their reserve, these coins also mint an additional 82.8 coins per minting period, again 10.764$ in the pocket of Bitconnect and this process keeps going as the coin rises in price they need to give back less and less of it, so they acrue most of the minted stakes themselves, causing a snowball effect.

For bigger invested amounts the math stays the same, they just made more money and we people are happy with 1% per day without the risk of the coin collapsing, in this instance Bitconnect is the bag holder, it just turns out to be making profit holding them and they make money of people trading on their site aswell. (Which translates to roughly 530.000$ monthly aswell)

I personally dont know if they have a bot, but they could just run a half assed Gunbot at this point in time, they have the funds to play with and a Gunbot isnt really rocket science either, now compare this system they have in place vs a bitcoin doubler site, bitcoin goes in, more bitcoin comes out is completely diffrent, that why i personally won,t go near sites like thunderbit, Ambis, Control Finance etc on those sites, there is no basic math that you can do to them to see if they are making any money, they just have a "bot" and that supposedly pays out 10% profit a day.

Yes it have indeed kind of worked so far because the amount of users, lenders, holders and stakers of BitConnect have been rapidly increasing BUT try do that same math with decreasing or stagnant amounts and you will understand that it is a ponzi scheme because it will not work anymore when the amount of new money comming in stop rapidly increasing, they would not even be able to pay back the lenders when the amount of new users, lenders, holders and stakers start decreasing or stay stagnant instead of rapidly increasing.


Let me provide you an example what will happen when the amount of new money stays stagnant so the price of BitConnect tokens remain the same. Lets imagine it stays stagnant from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 13200$ dollar if I sold them 120 days later.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 14832$(18000-3168) as they need to return 76 out 100 invested coins back to you at the current value of 132$ per coin. So from a 10010$ loan they make a net loss of 14832$.


Now an example of what will happen if the amount of new money decrease hard so the price drops 50% to 66$. Lets imagine it is decreased from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 6600$ dollar if I sold them 120 days later at the price of 66$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 16416$(18000-1584) as they need to return 76 out 100 invested coins back to you at the current value of 66$ per coin. So from a 10010$ loan they make a net loss of 16416$.


Now an example of what will happen if the amount of new money increase "slowly" so the price drops doubles to 264$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 26400$ dollar if I sold them 120 days later at the price of 264$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 11664$(18000-6336) as they need to return 76 out 100 invested coins back to you at the current value of 264$ per coin. So from a 10010$ loan they make a net loss of 11664$.


Now an example of what will happen if the amount of new money increase "decently" so the price drops quadruple to 528$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 52800$ dollar if I sold them 120 days later at the price of 528$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 5328$(18000-12672) as they need to return 76 out 100 invested coins back to you at the current value of 528$ per coin. So from a 10010$ loan they make a net loss of 5328$.


As you can see the system is not long term sustainable at all, the price of BitConnect token would need to octuple every 120 days for BitConnect to turn a profit. This might work for a while, probably max 1-2 years and after that BitConnect will start bleeding money and become insolvent and lenders will get a huge haircut or straight up lose all their money.

Also your approach is wrong and you are a little bit confused. The BitConnect tokens deflates an equal amount so you don't really gain anything when you get new tokens from staking because the price goes down an equal amount. When the price remains the same or goes up in value its because of an increasing number of new money entering BitConnect.

Imaginary example for even a dumb person to understand this:
Lets say 1$=1€
Lets say in the world there a total of 100$ and 100€
Lets say 100$ more is printed so there is a total of 200$ in the world
Now 2$=1€ instead of 1$=1€

Kudos for writing all that out, but i only did an example on my own loan,

Bitconnect owns 4.8 million set aside of their own coins witch are worth of 624m $, not counting other loaned coins in their possesion as only around 4m $ is traded each day, maybe a bit more now, those 4.8m coins mint 384.000 coins on their own which is another 49.920.000$ every minting period and those coins have nothing todo with personal loans, they have been minting coins since it started.

even if the coin would drop by 50%, that just means they are minting 25.000.000$ on their own, while only needing to give you 28.000$ after a 4 month period out of their 100-200m minted gains, so even if their coin drops they still make a profit and can pay their users.

Unless the coin deflates completely, its not going to be an issue, but then bitconnect has the cirquit breaker and supply and demand to control the coin, as more and more coins get reinvested and locked away for 299 days, coins are in a natural state of short supply.

So unless they actually shut down and run with their 600m $ the coin is not going to deflate if they keep paying us 1% peanuts to the truckloads of money they are making.

And if they are smart, which they are, seeing they came up with this coin, they are going to make a lot more if they support the coin going up while staying legit.

Maybe it started as a big ICO scam and they are like ow fuck, this is making us boatloads of money, we don't know. But any busness that stagnates like you said ie no new work coming in dies, its the same for a big building company, they loose a big contract and they need to shut down, if people lose faith in bitconnect it will shut down like any other busness.

As you make it seem i am the "Dumb" person here, might i remind you that you just used my "basic math" with a few diffrent numbers tacked to it as opposed to writing up your own "basic math", Monkey see, Monkey does i suppose.

Edit: also most of your examples and text doesnt make any sense, if the coin value goes up to 528$ per coin and they need to pay out 28.000$ they dont pay you back 76 coins, they give you back 53 coins, the staked coins will also only be 6 instead of 24, they keep 29 of the coins which are worth 15.312$, less profit, but still not too bad because the leverage from 132$ to 528$ vs 8 to 130$ is only 4 times more as opposed to 16x.

Now i know why most people don't get it, their "basic" math is wrong.

I was a little bit tired when I did the math and tried to simplify it as much as possible and make it look like yours so you could understand it. But let me give you aonther example:

If I was to make a new COIN, I printed 1,000,000 of theese coins and sold 1 coin for 100$ to a freind. Coinmarketcap would say the market cap of my coin would be 100,000,000$. But do you really think I would get 99,999,900$ if I tried to sell my last 999,999 coins? Mathematically I should get under 100$ in total for all of my last 999,999 coins.

Or what if I made a new COIN, I printed 1,000,000,000 of theese coins and started selling them for 1$ each and told people that I will double their investment after 30 days, you would buy 1000 coins for 1000$ and expect to get 2000$ back after 30 days. If during these 30 days no one else invested I would not have the liquidity to pay you back 2000$ BUT if there was a increasing number of new investors lets say 3 new people who each bought 1000 coins for 1000$ I would have 4000$ total so I would be able to pay you back 2000$ and keep the ponzi scheme running aslong as it keeps rapidly growing and with a nice referral program, marketing and complicated enough structure so 99% of the people don't understand how it works I could easily keep this ponzi scheme running for several years. And you know what? This is a simplified version with the same concept of a "company" called BitConnect.


There is really no need to go into complicated details about how BitConnect works, it is what throws you off and the downfall of most people who try to analyze it. Just think of BitConnect as a company that double your money every few months, you give them money and they double it within a few months. Now for BitConnect to be able to double your money every few months they need to grow that money you give them somehow, they say it is a volatility software bot that buy and sell bitcoin on different exchanges and generates so much profit that it can double your money every few months, this is something so unrealistic that most intelligent people know it is a scam because if they had a software like this they would not need BitConnect, blockchain or customers to loan them money, they would be nobel prize winners that everyone would invest in or they could sell their volatility software for trillions of dollars straight away or they could just start running the volatility software themself with a 100,000$ bank loan and become the worlds first quadrillionaires within a few years. So from this we can make the conclusion that there is no volatility software bot that can double your money every few months and BitConnect is just aonther Ponzi that pays customers with customer money until they exit scam or they are lying about everything and just straight up gamble or high risk invest customer funds which is not what people signed up for a therefore a scam, that will also crash and burn eventually when they stop getting lucky playing roulette with customer money.

[YuTü.Co.in]

How do you know that they could easily afford to pay off all the lenders immediately? They are not transparent with this kind of information. Only way you could know that they can afford to pay off all the lenders is if you blindly trust them without them providing any evidence, knowledge or information. Being positive is generally great, but being too positive is ignorance and ignorance is evil, the only good is knowledge.

Its basic math really, if i bought 10010$ worth of Bitconnect in may, i would have gotten 1250 ish coins for 8$ each, staking these coins would have provided me with an additional 300-400 coins, my total amount of coins + extra minted coins would be worth a total value of 214.000$ dollar if i sold them now 120 days later.

Now if i lended it into the Bitconnect platform for 120 days like most did, bitconnect pays back the principal amount of 10000 + around 18.000 in acrued profit from lending it to bitconnect, so after 4 months i get back 28.000$, bitconnect who has been staking "your" coins all this time makes 186.500$ as they only need to return 215 out 1250 invested coins back to you at the current value of 130$ per coin.

Also, if they keep the other 1035 coins as their reserve, these coins also mint an additional 82.8 coins per minting period, again 10.764$ in the pocket of Bitconnect and this process keeps going as the coin rises in price they need to give back less and less of it, so they acrue most of the minted stakes themselves, causing a snowball effect.

For bigger invested amounts the math stays the same, they just made more money and we people are happy with 1% per day without the risk of the coin collapsing, in this instance Bitconnect is the bag holder, it just turns out to be making profit holding them and they make money of people trading on their site aswell. (Which translates to roughly 530.000$ monthly aswell)

I personally dont know if they have a bot, but they could just run a half assed Gunbot at this point in time, they have the funds to play with and a Gunbot isnt really rocket science either, now compare this system they have in place vs a bitcoin doubler site, bitcoin goes in, more bitcoin comes out is completely diffrent, that why i personally won,t go near sites like thunderbit, Ambis, Control Finance etc on those sites, there is no basic math that you can do to them to see if they are making any money, they just have a "bot" and that supposedly pays out 10% profit a day.

Yes it have indeed kind of worked so far because the amount of users, lenders, holders and stakers of BitConnect have been rapidly increasing BUT try do that same math with decreasing or stagnant amounts and you will understand that it is a ponzi scheme because it will not work anymore when the amount of new money comming in stop rapidly increasing, they would not even be able to pay back the lenders when the amount of new users, lenders, holders and stakers start decreasing or stay stagnant instead of rapidly increasing.


Let me provide you an example what will happen when the amount of new money stays stagnant so the price of BitConnect tokens remain the same. Lets imagine it stays stagnant from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 13200$ dollar if I sold them 120 days later.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 14832$(18000-3168) as they need to return 76 out 100 invested coins back to you at the current value of 132$ per coin. So from a 10010$ loan they make a net loss of 14832$.


Now an example of what will happen if the amount of new money decrease hard so the price drops 50% to 66$. Lets imagine it is decreased from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 6600$ dollar if I sold them 120 days later at the price of 66$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 16416$(18000-1584) as they need to return 76 out 100 invested coins back to you at the current value of 66$ per coin. So from a 10010$ loan they make a net loss of 16416$.


Now an example of what will happen if the amount of new money increase "slowly" so the price drops doubles to 264$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 26400$ dollar if I sold them 120 days later at the price of 264$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 11664$(18000-6336) as they need to return 76 out 100 invested coins back to you at the current value of 264$ per coin. So from a 10010$ loan they make a net loss of 11664$.


Now an example of what will happen if the amount of new money increase "decently" so the price drops quadruple to 528$. Lets imagine it is increase from now until end of december (120 days)

Its basic math really, if I bought 10010$ worth of Bitconnect tokens now, I would get 76ish tokens for 132$ each, staking these tokens would have after 4 months provided me with an additional 24 tokens, my total amount of tokens + extra minted tokens would be worth a total value of 52800$ dollar if I sold them 120 days later at the price of 528$ each.

Now if I lended it into the Bitconnect platform for 120 days like most do, bitconnect pays back the principal amount of 10010 + around 18,000 in acrued profit from lending it to bitconnect, so after 4 months I get back 28,010$, bitconnect who has been staking "your" coins all this time makes still make a loss of 5328$(18000-12672) as they need to return 76 out 100 invested coins back to you at the current value of 528$ per coin. So from a 10010$ loan they make a net loss of 5328$.


As you can see the system is not long term sustainable at all, the price of BitConnect token would need to octuple every 120 days for BitConnect to turn a profit. This might work for a while, probably max 1-2 years and after that BitConnect will start bleeding money and become insolvent and lenders will get a huge haircut or straight up lose all their money.

Also your approach is wrong and you are a little bit confused. The BitConnect tokens deflates an equal amount so you don't really gain anything when you get new tokens from staking because the price goes down an equal amount. When the price remains the same or goes up in value its because of an increasing number of new money entering BitConnect.

Imaginary example for even a dumb person to understand this:
Lets say 1$=1€
Lets say in the world there a total of 100$ and 100€
Lets say 100$ more is printed so there is a total of 200$ in the world
Now 2$=1€ instead of 1$=1€

Kudos for writing all that out, but i only did an example on my own loan,

Bitconnect owns 4.8 million set aside of their own coins witch are worth of 624m $, not counting other loaned coins in their possesion as only around 4m $ is traded each day, maybe a bit more now, those 4.8m coins mint 384.000 coins on their own which is another 49.920.000$ every minting period and those coins have nothing todo with personal loans, they have been minting coins since it started.

even if the coin would drop by 50%, that just means they are minting 25.000.000$ on their own, while only needing to give you 28.000$ after a 4 month period out of their 100-200m minted gains, so even if their coin drops they still make a profit and can pay their users.

Unless the coin deflates completely, its not going to be an issue, but then bitconnect has the cirquit breaker and supply and demand to control the coin, as more and more coins get reinvested and locked away for 299 days, coins are in a natural state of short supply.

So unless they actually shut down and run with their 600m $ the coin is not going to deflate if they keep paying us 1% peanuts to the truckloads of money they are making.

And if they are smart, which they are, seeing they came up with this coin, they are going to make a lot more if they support the coin going up while staying legit.

Maybe it started as a big ICO scam and they are like ow fuck, this is making us boatloads of money, we don't know. But any busness that stagnates like you said ie no new work coming in dies, its the same for a big building company, they loose a big contract and they need to shut down, if people lose faith in bitconnect it will shut down like any other busness.

As you make it seem i am the "Dumb" person here, might i remind you that you just used my "basic math" with a few diffrent numbers tacked to it as opposed to writing up your own "basic math", Monkey see, Monkey does i suppose.

Edit: also most of your examples and text doesnt make any sense, if the coin value goes up to 528$ per coin and they need to pay out 28.000$ they dont pay you back 76 coins, they give you back 53 coins, the staked coins will also only be 6 instead of 24, they keep 29 of the coins which are worth 15.312$, less profit, but still not too bad because the leverage from 132$ to 528$ vs 8 to 130$ is only 4 times more as opposed to 16x.

Now i know why most people don't get it, their "basic" math is wrong.

I was a little bit tired when I did the math and tried to simplify it as much as possible and make it look like yours so you could understand it. But let me give you aonther example:

If I was to make a new COIN, I printed 1,000,000 of theese coins and sold 1 coin for 100$ to a freind. Coinmarketcap would say the market cap of my coin would be 100,000,000$. But do you really think I would get 99,999,900$ if I tried to sell my last 999,999 coins? Mathematically I should get under 100$ for my last 999,999 coins.

Or what if I made a new COIN, I printed 1,000,000,000 of theese coins and started selling them for 1$ each and told people that I will double their investment after 30 days, you would buy 1000 coins for 1000$ and expect to get 2000$ back after 30 days. If during these 30 days no one else invested I would not have the liquidity to pay you back 2000$ BUT if there was a increasing number of new investors lets say 3 new people who each bought 1000 coins for 1000$ I would have 4000$ total so I would be able to pay you back 2000$ and keep the ponzi scheme running aslong as it keeps rapidly growing and with a nice referral program, marketing and complicated enough structure so 99% of the people don't understand how it works I could easily keep this ponzi scheme running for several years. And you know what? This is a simplified version with the same concept of a "company" called BitConnect.


There is really no need to go into complicated details about how BitConnect works, it is what throws you off and the downfall of most people who try to analyze it. Just think of BitConnect as a company that double your money every few months, you give them money and they double it within a few months. Now for BitConnect to be able to double your money every few months they need to grow that money you give them somehow, they say it is a volatility software bot that buy and sell bitcoin on different exchanges and generates so much profit that it can double your money every few months, this is something so unrealistic that most intelligent people know it is a scam because if they had a software like this they would not need BitConnect, blockchain or customers to loan them money, they would be nobel prize winners that everyone would invest in or they could sell their volatility software for trillions of dollars straight away or they could just start running the volatility software themself with a 100,000$ bank loan and become the worlds first quadrillionaires within a few years. So from this we can make the conclusion that there is no volatility software bot that can double your money every few months and BitConnect is just aonther Ponzi that pays customers with customer money until they exit scam or they are lying about everything and just straight up gamble or high risk invest customer funds which is not what people signed up for a therefore a scam, that will also crash and burn eventually when they stop getting lucky playing roulette with customer money.

In the voice of Team BitConnect: Yes, we could sell our amazing bot or use it ourselves to make billions, but we're looking out for the little guy, the small-time investor. That said, this statement is further proof that we're not nefarious actors. Leroy Fodor honestly, we're on a good track.

Ken Fitzsimmons

PS: Bruno, please quit depicting our bitcoin holdings or else we'll sue your scammy ass. Don't make us quote Leroy Fodor quoting Joshua Zipkin in proving our assessment. You've been warned!

PSS: When the fuck did the price of my beloved Almas increase?

[wafdawg]

When BitConnect's site was down, BCC volume was still high on nova exchange.  To me that is the most telling sign that BitConnect has lasting power.  It was also in one of Clif High's ALTA Reports.  His note on those who call it a scam coin -

Note that the claim of 'scam coin' on BitConnect is due to its use, and manipulation by scammers, not any inherent design towards that end, at least as shows up in the data sets. It still shows long term. Not a screaming performer, but does have the legs to survive hyperinflation.

He also notes that linux geeks are all into it. And that there will be mini-linux OS powered devices.

They way I see BitConnect is that it's a self contained recycling system which will make it sustainable.  It is also the most highly correlated alt coin to the Bitcoin price. The rise of the Bitcoin price and in turn, BitConnect coins has cemented its place among the top 20. 

Everyone is using examples to try and come up with their version of "basic" math but let's simplify all the way:

Example:
It is March 2017. Bitconnect is $1.  You want to make a $100 loan.  So you buy $100 BCC for $100 and lend it out.  During the 299 lock period, you receive your daily interest payment, on average of 1% and make $299 and the end of the loan period lasting until January 2018. 

January 2018.  You are due your principal back from your $100 loan.  Let's assume today's BCC price is what it is in January 2018, so $135.  You don't even receive 1 BCC coin in order to pay you back $100.  You lent out 100 BCC! Who made that money?  BitConnect did. They make money when you lend and lock up your funds into the platform.  Then factor in that they staked those 100 BCCs for 10 months at 8% a month earning another 80 BCC.  It's a juggernaut.  At $135, the 100 BCCs are now worth $13,500 and the coins they staked are worth $10,800. 

Now let's assume the price of BCC has fallen in half down to 50 cents.  What would have happened?
You buy 100 BCC for $100 when it is $1. You make a $100 loan lending 100 BCC.  During the 299 lock period, you receive your daily interest payment, on average of 1% and make $299 and the end of the loan period lasting until January 2018.

January 2018.  You are due your principal back from your $100 loan. BCC is 50 cents.  It will cost 200 BCC to pay you back. If BitConnect staked your 100 BCC they would have earned an additional 80 BCC and after paying you back they would have a loss of 20 BCC or $10.  They can probably sustain a $10 loss after all the money they have made.