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In depth explanation of what I believe is the actual trading bot in BitConnect and why it might not be a scam after all. I have recently learned of BitConnect like many others.

By looking into other cryptos that offered alternative and innovative ideas. Ever since then, I have been almost obsessed with trying to understand its incredible returns and find out if this is a typical Ponzi Scheme. I've been reading loads of information on forums and sites and watching tons of videos on the subject. I have come to believe that I think I finally understand how BitConnect functions.

And this is my attempt to explain it. I have bitconnect trading bot many different reasons why people believe BitConnect is a Ponzi Scheme. Because of this, I will be mainly addressing the arguments on this article. I also address some other arguments bitconnect trading bot were not included in his article but that I found, appeared quite often in Forums, Videos and Comment Sections around the web.

Bitconnect trading bot money is made with a cryptocurrency trading bot they have created. And I bitconnect trading bot this bitconnect trading bot exactly what is doing. Unfortunately, while claiming that BitConnect is not innovative enough, he does not mention other promises.

Some that came true and some that are still to happen. The only thing this claim actually proves is that they did not hire some individual with good grasp of the English language to write their website content.

Too good to be true returns. So far BitConnect has been producing these returns. So a too good to be true return is only a truthful claim the moment that those returns are not met, bitconnect trading bot because they are too good to be true does not mean they are not true. And yes, I am aware of the fact that ponzi schemes work until bitconnect trading bot stop working.

Bitconnect trading bot I'm only mentioning this because this is not a valid proof or at least not yet that BitConnect is a ponzi scheme. They don't ask for BCC, their own currency, they ask for Bitcoin! Because their currency bitconnect trading bot become worthless as soon as they close down the site, but Bitcoin will still be valuable.

Because their currency will become worthless as soon as they close down the site? The claim that bitconnect trading bot currency will become worthless as soon as they close down the site is not true. The currency will become worthless as soon as people stop using it.

People can still mine and use the currency if they bitconnect trading bot the site tomorrow. The wallet is out there for any to use, and miners are still mining the bcc. Either through PoW or PoS. The only thing that will be worthless if they shut down the site tomorrow is all those returns on investment and the great majority of bcc's in existence.

That is, if they don't trade them on some other Exchange. You buy BitConnect with your Bitcoin from their exchange, with other Bitconnect holders. This is very important to realize. Anyone can trade BitConnect for BitCoins and vice versa. The developers do not have exclusivity like this article seems to suggest. The market is volatile, price goes up and down according to demand.

Just look at BitConnect's trading history. The interest is paid in Bitcoin. And this is the most important part of it all. So important I will repeat it again slowly:.

I believe this is almost correct. Another very important clue. This helps to bring a ton of people to the site. It's a snowball effect: The funds of new users are used to pay the old users. Almost everything is correct here. Their marketing strategy functions exactly as stated, except for one thing. To claim the funds of new users are used to pay old users is just speculation.

There is no actual proof this is what is happening. They also have a ton of Bitcoin to sell, but at this point it's worth a lot less than the total amount of BCC they have. They then disappear with all of the money. Again these are unfounded claims but at the same time they pretty much explain exatcly what potentially could make this system bitconnect trading bot but fails to realize that.

Are ICO's a big ponzy scheme? What if the bots, are actually doing their job. According to BitConnect's website. This is bitconnect trading bot the TradingBot does: The Bitcoin Price Volatility Software calculates interest in real-time for you, so you can monitor profit at any time. Increased volatility means there is greater uncertainty on the returns of your investment. Again, let's pay attention to what it says: Nothing else nothing less. And to give people credit, it pretty much, says nothing at all.

If this was lost in translation, or if it is deliberately meant to mean nothing is unknown. Probably the latter I suspect. The interesting part is what they claim in another part of the site: Again we are back at the trading bot. Now if this trading bot exists. How could it be that we don't see it trading on major exchanges. Bitconnect trading bot is another claim as an argument why BitConnect is a scam.

What if the thing that keeps BitConnect relatively stable while other coins are fluctuating like crazy, is the actual Trading Bot? The great majority of people flock into BitConnect because of the promises of great returns. Thegrinder actually explained quite well, how the system works when he said. Who do you think is probably buying your Bitcoin when you trade it to bcc on their exchange? Who is taking your bcc after you lend it for profit based on bitconnect trading bot And while doing it, sharing a small amount of it's profits with the rest of us?

That is a fold increase in its value in less than 8 months. This tells me 2 things. Either we are talking about massive whales involved in BCC. And these guys are not lending their money back to the bot for insane returns. Or another option, which I think is more likely, is that these are all the bot's bcc. If these are the bot's, the only reason I can imagine they are sitting in wallets with only 5 transactions in each, with each transaction happening 1 month bitconnect trading bot each other is because these accounts are staking the coins.

Obviously these are not all the coins the bot bitconnect trading bot has, after all it would not be able to perform its bitconnect trading bot trades if it kept all its coins locked in 7 wallets. If we take just the 1st address, the bitconnect trading bot that contains 1, bcc. In one month that one address will generate in today's bcc value proximately 6 million dollars in PoS.

But it does not end there. Remember our good old friend, the compound interest. Well, staking also works that bitconnect trading bot. But the bot knows it can stake those coins for a minimum of 4 months, cause that is the minimum time it will bitconnect trading bot your bitconnect trading bot for. Well at the end of those for months the bot will have generated a total ofnew bcc.

That is a Now let's not forget that this is just staking gains. Only that the bot now knows for a fact that, that initial investment will be locked in the system for at least 4 months. The bot never promised you your 20, bcc back. It promised your 10, fiat dollars back. Which if locked for 4 months would be worth around a mere 2, bcc by the time it had to return your initial investment. What about the daily returns you might ask. Well, there are 3 options you can bitconnect trading bot with those daily returns.

BitConnect loves when you do that. That way the money is just parked there while the bot makes more money with your initial bcc. Trade to bcc You are forced to do this option if you want any other options. Well, guess who is more likely to be selling these bcc to you?

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25 comments Tank bot nxt

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Hello dear followers, in this video I share my thoughts about BitConnect. It is not a positive review. The large whales promoting bitconnect arent investing money into bitconnect, they make most of their income through referrals and then immediately withdraw.

I'd rather invest in steemit and its future. I invest in both. I enjoy them both. Just to give you a heads up, It's impossible to "immediately withdraw". Who ever puts money into it is locked in for no less than days at best and typically days. Could be a scam though, who knows. If you were only talking referral income than yes you are correct. Referral money can be taken out and turned into bitcoin. I follow a lot of these big dogs and none of them have zero invested though so they could only take out that referral money but all the other money they have tied into it cannot be taken out for awhile.

Most of these guys have 20kk locked up in the site so they can't run anywhere anytime soon. I am one of the people doing videos of my journey. I have money in Steem too and I plan to use some of my BCC profits to buy more steem for the long haul. I hope to have an account as big as yours one day.

I'll get there for sure: How are you sure these "big dogs" aren't getting kickbacks from Bitconnect on the side to keep large sums locked in and keep the illusion alive?

Companies like this are not below paying off people in social media to promote their scam. Sure they may have k locked in and show it off in their wallet Even better - maybe it's possible that the devs of bitconnect gave him a special account that just shows off large sums so he can use it to impress people and get referral money.

If you don't think it's possible for someone to be working directly with Bitconnect I don't know what to tell you. BCC might be paying out well now and a lot of people will make money. People that get in and out within a year. It won't last though. Message me in 3 years. If Bitconnect still exists and is still paying out. Lol no need to eat catfood man, I'm not sure of anything accept I'm receiving my money everyday.

Thats the only thing I'm sure of. Will it last, who the hell knows. I'm not sure if any of this will last. As far as Bitconnect creating these special accounts and paying people off to show fake amounts of money in order to bring the masses in, sure anythings possible. What I won't say is it will or won't last because I can't see the future. People said bitcoin won't last too.

Most people "re-invest" the interest they make back into the loan. Bitconnect thrives on this. If you put in a loan and are banking the interest, congratulations on getting in on the ground floor of the ponzi. Those who get in AND leave early will come out with money. Those who stay in will lose everything. I don't need to know the future to understand that the sun will rise tomorrow, and at night the moon will come out.

You do not need to see the future to understand what's going to happen next with Bitconnect. Poloniex has always treated me fair and also Cryptopia! Stop being a sally and listening to hearsay about a company. I've never had an issue with Polo. I love their graphs, so informative.

Excellent post, I really enjoyed hearing your views on this topic. I think even mathematically it doesn't make too much sense. The average rate of return daily is around 0. If you actually computed the compounding based on a monthly basis, your return would be around 2, Really good review brother.

Can I prove it? These programs always work fine until the day they don't. When will that be? I have no idea, but your projection seems reasonable. I imagine quite a few people will continue to pour money into this thing.

Some people never learn there's no such thing as easy money. There are definitely some ponzi type schemes in the world of crypto. I have an aquaintance that got sucked into a mining ponzi scheme.

All of the ponzi scheme markers were present, like paying large amounts just to be a part and then they try to get you to recruit other investors. To ponzi or not to ponzi? Its money I can afford to lose. It is a gamble, no different from when you go to a Casino and lose on the black jack table in like 30 seconds. So I will keep reinvesting and compounding the interest as long as I can and if I get to a certain number I pull my initial investment out in daily profits.

If Bitconnect dies a quick death and I lose it all or dies a slow death and i make some money first, sure i'll be disappointed but will have a clear conscience and will move on unaffected. Everything including crypto currency benefits those who get in early and those who come late to the party usually get screwed. That is the chance you take when you invest in anything. By all means don't use Bitconnect as your main investment it should be a miniscule part of a way bigger picture.

James, I think that is the core issue of their success. There is a lot of loose money in crypto and a lot of people are fine gambling that excess which is millions on something like bitconnect. I would just say it is getting too big. Do we really want to see the pet-ponzi of the crypto world start trading into the top What if it gets picked up by people outside of crypto world and crypto newbies start dumping their life savings into it?

As we continue to feed this beast it grows, and I really think at this point we do not want to see it grow any bigger. If it shows sustainable growth, what's the problem?

If everyone involved is profiting, and it seems like it is sustainable, sounds like a functioning economy to me. I'm not saying it's NOT a ponzi scheme, per se. I'm just saying maybe we need to re-evaluate if ponzi schemes are actually bad in the context of a digital global economy. If you do the math, Bitconnect's participants will be some of the richest people on Earth in 5 years.

As one comment put it, if you invest 10k and compound monthly, in several years you will own more than the US Stock market. I did my own math. This thing is going to blow and take a lot of people's money.

If someone actually had the giant iron balls to compound invest 10K in Bitconnect for 7 years, remember Bitconnect is taking a nice healthy profit from from each reinvestment along the way. Each 10K investment is locked up for days. So don't think the investor can say "hmm I think I will withdraw my 45 trillion now" and pull it out and take it all down.

It would be calculated increments of withdrawals during which time Bitconnect is making profits and keeping the ball rolling. Again I'm not saying your are wrong just not completely informed on the matter and I'm playing devil's advocate here because everyone is blindly shitting on Bitconnect without knowing the facts.

I can't see behind the curtain either but it is working now so I say lets keep it working for as long as possible and all make money.

I'm on Day 3 of my Bitconnect experiment: These are part of LTBH funds we could afford to lose completely, as is all of our crypto. It would suck to lose all this crypto, but it wouldn't be the end oft he world. That was a great idea, take advantage of the referral system with friends and family. I'm going to wait until i'm at dollars a day in interest to start pulling money out just my initial investment.

If I don't it would be disappointing, but as everyone should I have many other investments in crypto, and savings so not going to swan dive off a bridge or anything. Cheers good luck I hope it works out!

James I totally agree with your point of view, people are constantly talking shit on bitconnect with no proof. If someone is dumb enough to put their life saving into ANY 1 gamble they deserve everything they get.

It's not our job to nerf the world from idiots. We can only try and guide them in the right direction. Just like dummies that took our their K's and bought Eth at dollars last June and then sold at like when the market shit the bed for a month.