I know a perfect song for this 🎧
I feel like I have a unique point of view on Bitconnect.
I believe Bitconnect will disappear before this year is finished. From what I have learned the past few days Bitconnect is in full control of their token, which has a current value of $111.
- 90% of the Bitconnect tokens' daily trade volume is in the Bitconnect exchange
- Bitconnect tokens are mainly used to invest in Bitconnect
What does this mean?
Bitconnect holds the majority of their tokens. They could use their tokens to manipulate the value and even sell the tokens in their own exchange all day long.
Think about it. When Bitconnect sells their own tokens they receive most of them back in a matter of moments when people invest. The problem is that they cannot do this forever. Eventually they would owe Billions of dollars due to most investors focused on compounding interest.
There is no trading bot.
I admit that I only recently became familiar with what a trading bot is. Even I understand that no such trading bot could possibly be trading millions of dollars of cryptocurrency (and more to come) for daily, weekly or even monthly profit. Trading that amount for profit day to day would be impossible in 2017.
The end is nearing.
As the value of the Bitconnect token rises, the end of the scheme is nearing. Bitconnect does not guarantee daily interest. At any point they choose they can sell their tokens, stop paying interest, return the initial investments and walk away with hundreds of millions of dollars. Or they can be greedy and keep it all.
I agree with you I would be afraid very afraid of bitconnect
You ( @toria) state, "I believe Bitconnect will disappear before this year is finished."
Maybe.. only time will tell. I have a couple of their coins myself but I'm certainly not a Bitconnect aficionado. In any event I will revisit your post sometime after the first of the year (2018) to see where things stand regarding Bitconnect.
Agree, I don't support and I will never support Bitconnect, in my view is a pyramid scam. Some people are putting 10k there? are they Mad? there is no easy way to profit, it is a hard work.I'm trading the financial market since 2008 and I saw everything, there's no easy way to profit. Let's see the next chapters of this scheme. ;/
Toria, do you use any trading schemes? Or is it a system you completely stay away from? In what ways are you invested in cryptocurrency? Do you simply buy and hold? Do you put your creativity to work and earn with cryptocurrency? Do you mine? I'm curious as to what ways you earn in cryptocurrency, so that I can learn too.
Look for value and hold for the long term.
Using Steemit as an example. Imagine that Steemit did not exist yet, but you heard about a social media website that was going to have a built in cryptocurrency. Not difficult to see the value there right?
Look for value and be patient.
I'm new to cryptocurrency so I've done nothing else.
That sounds very practical and Warren Buffett like... I think your in the right place at the right time and there is a lot of opportunity... I hope that upon navigating you find your niches...
Autobots exist. I make daily profits outside of bitconnect with Gunbot and Gunther it's not hard to imagine Bitconnect having a proprietary one. Giving somebody 1% in profit when volatility grows 3000-4000% in 1 year is also very realistic. Although they're referral program does make them look like a pyramid scam.
I prefer Autobots over Decepticons.
I don't believe they have one trading millions of dollars of Bitcoin daily.
they don't :) is a scam
a scam that has already given back my capital investment and is giving me 100$ a day until they shutdown the site? OK!!
ok, good for you mate. Still I believe it is a scam, but wish u luck :-)
I agree must be some sort of scheme -- staying on the side lines