Bitconnect scam/ponzi?

[LordOfDoom]

Hello
im new member

i invested $750 into https://bitconnect.co
and i have been witht he site for about 2 weeks now

just enjoying it and thinking one day i would hopefully pull out $10k or maybe even more
but then i did the search on google and youtube "bitconnect scam" and oh my god everyone is telling not to invest into this platform cuz its scam its a ponzi pyramid

but if the are scam why would they then be #16 at https://coinmarketcap.com/ with a value of $1.023.397.120


after doing some more research i found some stuff that made my bells ring like

we dont know the owner/founder?
we dont know address?
we dont know if they really have a trading bot?
it's a bit fishy to get 1% a day
after they got confronted at blockchain EXPO 2017 https://www.youtube.com/watch?v=KjkS-9y_0PI they really seem like a scam company to me

what are ur guys thought about this?
legit or not legit?

[deadshot21]

the very principle of blocking his money I find it counterproductive and also when you see the quality of their meetings and the reputation that they have ...

[Raimy]

I looked into Bitconnect a while back and it raised too many warning flags for me to get involved with. The biggest concern being the promised returns. If someone could earn returns like that legitimately, why would they need to share it with investors?

So since you are invested with them, are you able to withdrawal at any time, or is your money locked in for some set period of time? It is one thing to see paper gains, quite another to be able to withdrawal your money.

[LordOfDoom]

i havent tried to withdraw yet but i have seen friends do it without problem

im just worried of all this scam accousation 

[ahmedjamal1998]

Since you're a bit new let me explain a few things.

but if the are scam why would they then be #16 at https://coinmarketcap.com/ with a value of $1.023.397.120

This means you literally don't know what coinmarketcap is. It's a website that lists each and every coin/token that has a website and is being traded on an exchange whatsoever.

Their rank is #16 on that list because the default filter applied is according to the total market cap of the coins. And that's where it put itself.

what are ur guys thought about this?
legit or not legit?

Well you basically answered your own question. Do you think a company/brand/coin that has all that can be considered legit or even close ?

Code:

but then i did the search on google and youtube "bitconnect scam" and oh my god everyone is telling not to invest into this platform cuz its scam its a ponzi pyramid

after doing some more research i found some stuff that made my bells ring like
we dont know the owner/founder?
we dont know address?
we dont know if they really have a trading bot?
it's a bit fishy to get 1% a day
after they got confronted at blockchain EXPO 2017 https://www.youtube.com/watch?v=KjkS-9y_0PI they really seem like a scam company to me

just enjoying it and thinking one day i would hopefully pull out $10k or maybe even more

Well they probably won't even be there any more when you reach that amount.


Well first of all, you should pull out your money at once from bitconnect as soon as you can. It's a total scam. They control the markets, trades, everything. Their reputation is the worst a crypto currency has ever been. I don't know why or on what basis you just decided that it's a good place to invest in but whoever or whatever advised you to do so is totally untrustworthy.

Besides, just take a look at their price graphs. HUGE drop in market cap while the price is exactly the same and even rising



Definitely not something that I'd trust my money with. There's way too many trusted currencies to invest in. ETH and BTC on the top of the list.

[minersday]

You dont even know those details from them, but you have already invested $750 so far, this is kinda funny!

we dont know the owner/founder?
it's a bit fishy to get 1% a day

Why have you invested in this? did you knew that they were a ponzi or a pyramid scheme?

Have you ever invested in one of those projects before? Because it is full of them, and you are not going to be the first one who has been realized that bitconnect is a ponzi.
Maybe you are going to make a lot of money before it disappears, and that is the main reason of why a lot of people are still investing in there.

But yes, it is risky, veeery risky , i would not even put a single dollar in there.

[finthebar]

I dont know this coin - but as a piece of general advice, you should do your homework yourself - every time. Just to be aware that inevitably there will be FUDDERS and Fanboys - and sometimes it is difficult to tell truth from reality.

The simplest advice is that if you have doubt, look at another project - there are many - in Crypto the gold standard is BTC and even that comes with no guarantee, so you need to look out for yourself. On the upside - when you pick right - the rewards are awesome.

[CrypticGambit]

Yes  Bitconnect is a scam/ponzi. You should watch out for those ponzi, there are so many ponzi coins which is worring to me. Never invest into ponzi , look what happened with bitpetite they exit scammed

[LordOfDoom]

i invested because of a friend who made good money at the site and i was like i want that to

then after i invested i did not quite understand the site to i went on youtube to find a tutorial on how to use site and slowly i came to videos about how its a scam/ponzi whatever they call it
and now i kinda regret i invested

[patapon49]

With all the promising projects on the market, why head for the worst?

[JTPhotography]

Bitconnect is NOT a scam. The people who say so have no proof. I invest in it cautiously, making sure I get my initial investment back before letting my funds accumulate. I get paid everyday and have no problems withdrawing. You really have to learn how the system work, once you do you’ll realize it is not a ponzi. The main point to know is that your returns are based on the success of a trading bot, which is based on volatility, and that returns aren’t guaranteed. The last few days have been weak. Getting in early is key, I suspect over time returns will slowly diminish.

[LordOfDoom]

and how much have u invested into this?

[Pab]

Better witdrawn when you can,it is classic ponzi,how anybody can promise you 1% a day
I saw many programms like that in the fiat money market

[CrypticGambit]

Better witdrawn when you can,it is classic ponzi,how anybody can promise you 1% a day
I saw many programms like that in the fiat money market

Yes withdraw everything from bitconnect they are about to collapse and there will be huge dump on their tokens. It is like a ticking bomb

[LordOfDoom]

today i get 0.19% so not even close to 1% yesterday it was 0.11% tomorrow it's 1.24%
but yea maybe i should just withdraw when i can


what else is there to invest in? i read about all those kids who is millionaires because of bitcoin but not how

[minersday]

You should get your account red-taged because of trying to promote this BIG SCAM.

Bitconnect is NOT a scam.

Are you blind? Probably you dont even know what a ponzi is.

I will explain it very simple:

You really have to learn how the system work, once you do you’ll realize it is not a ponzi.

1: You invest
2: Another person gets paid with your money.
3: A guy invest
4: You get paid

And that is a huge cycle and the only way that it could stop, is if people stop investing, and that is going to happen because there is a lot of bad advertising about bitconnect.

It is going to die soon.

[woas4]

Bitconnect is 100% a ponzi scheme and fraud. I dont know how anyone can invest anything in their platform after reading that they promise a 1% daily compounded interest rate. You could basically put in 1 btc and 1 year later become a multi millionaire without doing anything... and yet people still keep falling for it, smh..

[LordOfDoom]

how is that?

lets say 1 BTC = $10.000 and u get 1%

10.000/100*1 = $100 a day *365 = $36.500 not a million?

[suncokreten]

BitConnect is a ponzi and a not sustainable one. It is just a matter of time when people will start dumping, the crash inevitable.

If I was you, I would pull my money out immediately, and be happy if I earned something.

[LordOfDoom]

i indeed will $50 at a time