Why BitConnect will destroy crypto

[Obi2024]

I really don't know much about the bitconnect, but i try to stay away from anything that looks like their system. i also don't see how it will affect the whole cryptocurrency if anything happens to it. However, I think people who are yet to come into the crypto space will become skeptical, but this last for just a while.

[cioloxl]

AFAIK, bitconnect has toned down their claims. I do not see evidence of a scam currently - it is a cryptocurrency like any other, one can stake their coins for a return in interest (which will be the case for ether as well), and if you lend it, there is the chance to get interest. If the currency has no value, then it will be reflected in the market.

What are the arguments that it is a scam?

I agree that they made very dubious (to put it mildly) claims in the past.

Anything or anyone promising you GUARANTEED returns is a scam.

[dreamer81]

Anyone can see that bitconnect is a ponzi, but it will not destroy crypto at all. The smart guys are in bitcoin, the fomos and wannabes are in bitconnect. It's as simple as that!

[anasso]

only the BCC investors are going to loose their money when this pyramd will collapse!

the coin have no use cases and shady team and they are going into jail quickly!

[3kpk3]

Bitconnect destroying crypto? I don't think so. The only coin which can destroy crypto is bitcoin and that will never happen according to me. Bitconnect has proven itself as a system worth trusting for now and you spreading FUD won't change that fact.

[woas4]

A lot of people are getting into this knowing it is a ponzi scheme and trying to profit from people below them... so many malicious players on the market right now, i hope it crumbles above them. If BCC doesnt grow much further i don't see it having that big of an impact in the entire market, we just need to stop it from attracting newbies who don't know its a scam.

[ulhaq]

AFAIK, bitconnect has toned down their claims. I do not see evidence of a scam currently - it is a cryptocurrency like any other, one can stake their coins for a return in interest (which will be the case for ether as well), and if you lend it, there is the chance to get interest. If the currency has no value, then it will be reflected in the market.

What are the arguments that it is a scam?

I agree that they made very dubious (to put it mildly) claims in the past.

Anything or anyone promising you GUARANTEED returns is a scam.

That is my point. They have removed claims of guaranteed returns.

[ilya_gr]

Somebody explain me, why thousands of smart(i hope so) people invest in such projects like BitConnect.It`s very easy to see, which exchanges they arem and conclude, that this is zero benefit. And other real perpective projects maybe couldn`t ricj their cap to make working product, cuz all money in such projects. It`s a pity

[Panda Trump]

AFAIK, bitconnect has toned down their claims. I do not see evidence of a scam currently - it is a cryptocurrency like any other, one can stake their coins for a return in interest (which will be the case for ether as well), and if you lend it, there is the chance to get interest. If the currency has no value, then it will be reflected in the market.

What are the arguments that it is a scam?

I agree that they made very dubious (to put it mildly) claims in the past.

Anything or anyone promising you GUARANTEED returns is a scam.

That is my point. They have removed claims of guaranteed returns.

Yet, they are delivering high returns (40% profits per month) without giving information about their true source of profits, which is obviously not a legitimate business.

I'm sorry, but this is a scam. It has been, is and will always stay a scam.

Regards,
Trump

[muncuss]

AFAIK, bitconnect has toned down their claims. I do not see evidence of a scam currently - it is a cryptocurrency like any other, one can stake their coins for a return in interest (which will be the case for ether as well), and if you lend it, there is the chance to get interest. If the currency has no value, then it will be reflected in the market.

What are the arguments that it is a scam?

I agree that they made very dubious (to put it mildly) claims in the past.

I don't know the dev team and why it has referral system, also little information about lending program. Also look ppl above me said about guaranteed return.
We know who is ethereum dev, so we need to know who are ppls behind bcc, especially because they say you can "invest" in bcc.

[Meruem]

Somebody explain me, why thousands of smart(i hope so) people invest in such projects like BitConnect.It`s very easy to see, which exchanges they arem and conclude, that this is zero benefit. And other real perpective projects maybe couldn`t ricj their cap to make working product, cuz all money in such projects. It`s a pity

I think this is mostly because of the "hype", good marketing and non smart approach to investments. These scam projects are really good marketed and people see them everywhere and they think that if a lot of people are talking about these projects, I need to invest. It will be successful and will bring me a huge benefit and enormous profit.. This is how such people think. And I agree with you, while they are investing in junk projects, really good and worthy ICO's are left without money.. This is the real life!

[Bit MacBit]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

Who are they?

[rainbow169]

Bitcoin looks every element like a ponzi scheme. Super high returns with no sustainable business models. I won't touch it at all. However I believe many investors of crypto see that as well so the failure of such a coin will ruin its investors but not the whole market. Some bad publicity for the crypto overall probably.

[Marco Ambrusini]

Hi Atomise. Would be nice if you could elaborate a little bit on the reasons why you think this way about bitconnect.
How to be sure it will or won't turn out to be another Madoff like scam?
I'm not sure how much time and money was dedicated to create the platform...give us more info please.  

I share the same concern about expatiating on the reason why he thinks the bitconnect platform is a scam and irrespective of what they are doing over there, I don't think the effect will be massive as Op is potrying it because I don't see the popularity so high to that level to command panic in the community. Someone introduced it to me but I didn't believe in it so I didn't bother but I think the people involved are happy with what they are getting and if it turn out to be a scam, they will also.enjoy it as well.

well there is always risk in anything.I personally invested in bitconnect and so far my investment has yield more than expected.some of us went in early and still harvesting.you just have to invest cautiously. Even ICOs are riskier.I dont see them quitting any time soon

[xdev]

Of course BCC will put a huge dent into the cryptoscene once it collapses.

Its placed #9 by market cap. Do you know how many blogs and pages there are out there promoting the coins placed along top10 on coinmarketcap? If a top10 coin is a scam that is a huge deal.

We should all be furious at coinmarketcap for continuing to publish this coin and their "volumes", which are all fake and fabricated by the way. This is Mt Gox 2.0 and its only a matter of time before it collapses

[texasman86]

I don't think it will be a big deal if it collapses...  it will get a lot of media headlines, which will push out some small investors who were thinking about getting into crypto, but the world will forget when bitcoin keeps pumping month after month.  If anything, it would have a small short term impact on the overall crypto markets.

[faimloup]

With these returns, the temptation is strong, but I am confused and suspicious about the lending as opposed to staking. If more information was available it would be easier not to label it a ponzi.

I agree with other commentators that if it does collapse cryptomarket overall will shrug it off. Too many other solid coins and utility being generated.

[abvhiael]

BitConnect was more than just a coin for me it has a intresting cause  three months ago the coin reached an all-time high price of $60. as claimed by dome but now it is: 1 BCC = 0.03709800 BTC (almost $227) for its rapid growth. The coin skyrocketed value by the start of June 2017. it is totaly ligit and probably is the best altcoin investement.

[samee177]

Bitcoin looks every element like a ponzi scheme. Super high returns with no sustainable business models. I won't touch it at all. However I believe many investors of crypto see that as well so the failure of such a coin will ruin its investors but not the whole market. Some bad publicity for the crypto overall probably.

the scam coin bitconnect not bitcoin may want to fix that

[kmntrci]

BitConnect was more than just a coin for me it has a intresting cause  three months ago the coin reached an all-time high price of $60. as claimed by dome but now it is: 1 BCC = 0.03709800 BTC (almost $227) for its rapid growth. The coin skyrocketed value by the start of June 2017. it is totaly ligit and probably is the best altcoin investement.

he is right  this is all about money. İNVESTMENT HAVE TO BE PLANED. there is no investmnet LIFETIME . GET YOUR PROFIT AND GO MAKE ANOTHER ONVEST MENT.

IF  THEY PAY THEY ARE NOT PONZI. when they wont all ponzı. things goes like this on MONEY bussinnes!!!