Wow what a FUD fest this forum is.
Bitconnect is not a scam coin just because the dev's didn't disclose themselves originally and used a shell company and a strawman director to start the company. As the rep states in this video
https://www.youtube.com/watch?v=753EU0iU8QY from the same conference where that jack ass so called journalist got up in his face and started accusing him of being a scam based on the math: It was a placeholder company and has since been replaced by an international company on the companies' house website with the directors listed. I would suggest that so called journalist dude go and apply his sound mathematics to the FED and the printing of the US dollar which has been debased by 99% since its issuance via money printing. How is the dollar sustainable? Because it's backed by guns thats how.
So the Queen isn't taking any bitconnecters' holdings or earnings. I thoroughly researched Bitconnect back in May, thought it could be a climber based on the fact that crypto and the blockchain and smart contracts lend themselves to these types of "pyramid" coins if you insist on calling them something with a derogatory name. I didn't invest at first because I was making 10% a day trading the alts which were popping off until June and the shift into ICO craze over the summer. I thought 1 - 2% a day was not worth the bother. After reconsidering my decision not to invest, I went in at a high enough level that I have earned 3X what I invested originally and am compounding every day (yes locking up the investment for 299 days as I am convinced bitconnect will still be there in a year) to increase the principle so that the daily interest payout will be more than enough to make my day.
I have also pulled out about 66% of my initial investment and will pull out the remainder over the next few weeks. Thats my strategy with most of these POS coins and lending coins recoup the original investment and play with the house's money. Some lending coins will work others are scams or will fail. Bitconnect happens to have been paying out for the past year with only a brief hickup when they had a problem with people being able to take advantage of a glitch in the code that enabled them to take more out of the wallet than they had in it, creating a negative balance. Bitconnect fixed that without forking the coin or screwing anybody, and kept on truckin. If they were planning on exit scamming that would have been a prime opportunity.
You want the truth. Every asset including fiat and gold and silver and bitconnect as well are confidence games. If people's confidence in the asset drops so will the value. If people lose total confidence the value crashes to $0. Even real estate crashed by 50% after the 2008 bubble burst in the MBS markets. I know because I was there in the thick of it fighting to keep people in their houses after they had been screwed by the big banks who were filling the demand for MBS inventory with subprime loans they knew would eventually blow up, but the banks didn't care because they were offloading their toxic crap with Bogus AAA S&P ratings on unsuspecting pension funds and foreign banks. When it all blew up they came begging to the Government for corporate welfare to the tune of 16 trillion dollars. Socialism when they get in trouble and capitalism when they are in the green - some system! The moral hazard created when none of those fraudsters went to jail has resulted in the kicking of the can down the road, and the implosion of the US economy has been delayed, but is inevitable. I'd rather have my assets in bitconnect than the US dollar.
Meanwhile, Bitconnect continues to pay and pay and nobody who shit talks it has anything new or original to offer besides the same old tired accusations that those of us who follow this coin have heard over and over with no inevitable crash occurring or even appearing on the horizon. The CMC total market cap dropped recently not because the devs suddenly made off with 1.5 Billion $$ but rather because CMC decided to stop counting the lent coins in the total market cap since they are out of circulation until released. That wasn't Bitconnect's doing. And in fact the total market cap is undervalued significantly because of that. So if anything Bitconnect is solid financially. Plus they recently redid the referral program lowering the referral fees and levels, which makes sense since they don't need that MLM marketing anymore as they are now well established.
As long as Bitcoin continues its epic climb, so will most of the alts including Bitconnect. They are even releasing their own debit card tied to bitconnect which expands their use case to the next level. As long as crypto continues to go mainstream and there are friendly governments that aren't trying to kill or control it exist, it will do just fine.
If you aren't willing to risk it, guess what no biscuit.
Fudders will FUD meanwhile Bitconnect will pay. If it does hit a wall some day and crash and burn most people will have recouped many times over what they invested in it.
Don't follow my advise, do your own due diligence and make your own investment decisions, crypto is for responsible investors who aren't afraid of the tech, and are willing to build the new digital economy that is taking the world by storm.
