[GimpedMaster]

Anyone have any experience with BitConnect? It's a BitCoin investing platform that looks too good to be true, want to talk to someone who has some firsthand experience with it.




https://www.youtube.com/watch?v=wqzI9NPlUlA

[Optional]

This guy gives a good explanation of why this looks like a ponzi scheme.

Basically does not make any sense that they built a trading bot that makes 1% per day every day, day after day.

Classic HYIP ponzi scheme type of claim and number.

[Unwritten Law]

Wouldn't trust it or put in too much. They can disappear fast and unless you jumped in when they opened, then you could have made out early profits.

[illiteratepotato]

look into bitpetite and you'll see where bitconnect will eventually end up.

[Cookie Monster]

Another stat to make you wonder: 95% of bitconnect trade volume is at their own exchange market. Smells fishy.

[GimpedMaster]

https://i.imgur.com/q6L4JSY.jpg

Decided to throw caution to the wind and invest a little bit. So far, I'm up almost 50% growth from my original investment in about 6 weeks.

People can say its too good to be true, but I've just seen too many people cashing out thousands not to at least see how far it can go. The reality is that as long as bitcoin stays healthy, Bitconnect should also stay healthy.

Going to put a big chunk in there next month and could see a seriously big return quickly based on what I'm seeing so far.

[Optional]

That didn't last long!

[JAKEPEAVY21]

https://i.imgur.com/q6L4JSY.jpg

Decided to throw caution to the wind and invest a little bit. So far, I'm up almost 50% growth from my original investment in about 6 weeks.

People can say its too good to be true, but I've just seen too many people cashing out thousands not to at least see how far it can go. The reality is that as long as bitcoin stays healthy, Bitconnect should also stay healthy.

Going to put a big chunk in there next month and could see a seriously big return quickly based on what I'm seeing so far.

[Crusherrr]

This coin has been touted by everyone on youtube, many on reddit, bitcoin talk etc. It looked like a scam, sounded like a scam, and guess what, it's still a scam.

When bitcoin price started falling they decided to come out with an ICO for BitconnectX as an additional cash grab. I feel sorry for people involved and many started small and kept getting paid and making money so they put more and more in and ultimately it came crashing down like any other ponzi.

[Bsims]

I wonder how many other of the alternate coins are also basically scams, just done by smarter people.

[Greenline]

I wonder how many other of the alternate coins are also basically scams, just done by smarter people.

1. BCC Cash (note that this is different from Bitcoin Cash)
2. Binary Coin
3. BitAI
4. Bitclub
5. Bitconnect X
6. Bitfinite
7. Bitglare Coin
8. Chrysos
9. Coinrium
10. Cointeum
11. Coinspace
12. Davor
13. Eigencoin
14. Ethconnect
15. Exacoin
16. Falcon Coin
17. Ficoin
18. Forzacoin
19. Gold Reward Token
20. Goldgate
21. Hextracoin
22. HotCrypto
23. Ibiscoin
24. Ideacoin
25. Knox Coin
26. Lendconnect
27. Libra Coin
28. LoopX
29. Martcoin
30. Moneroconnect
31. Monetize Coin
32. Monyx
33. Neoconnect
34. Numiv
35. Onecoin
36. Pagarex
37. Regalcoin
38. Secular Coin
39. SFICoin
40. Steneum
41. Stepium (actually a pyramid scheme)
42. TEX Coin
43. Thorn Coin
44. Ucoin Cash
45. Unix Coin
46. USI Tech
47. Western Coin

Defunct ponzicoins:

1. Ambis
2. Bitcoinly
3. Bitconnect
4. Bitlake
5. Bitpetite
6. Chain.Group
7. Coinreum
8. Cryptodouble
9. Metizer
10. Microhash
11. Thunderbit
12. Vixice
13. Vone

[Greenline]

Also, I don't think it's fair to say the real people behind Bitconnect weren't smart. They built this Ponzi 2.0 incorporating their own coin into the lending program pumping an artificial demand. They were also very fortunate in the skyrocketing bitcoin price, this really should have worked itself out in 6 months. If there ever is a behind the scenes look at this, the one thing that they may have messed up on is when did they sell off their premine? Coin went from $1 to over $415. I'm assuming they added the bulk of the premine to the market sometime around the 2nd week of Sept @ $120 to cover possible withdrawals on the first wave of expiring loans combined with a BTC dip.

And finally, these people had the referral system which spawned the YouTube shills who are facing the backlash of rightfully irate investors, meanwhile the individuals that made 9 and maybe even 10 figures are penetrating vapor.

[Crusherrr]

Also, I don't think it's fair to say the real people behind Bitconnect weren't smart. They built this Ponzi 2.0 incorporating their own coin into the lending program pumping an artificial demand. They were also very fortunate in the skyrocketing bitcoin price, this really should have worked itself out in 6 months. If there ever is a behind the scenes look at this, the one thing that they may have messed up on is when did they sell off their premine? Coin went from $1 to over $415. I'm assuming they added the bulk of the premine to the market sometime around the 2nd week of Sept @ $120 to cover possible withdrawals on the first wave of expiring loans combined with a BTC dip.

And finally, these people had the referral system which spawned the YouTube shills who are facing the backlash of rightfully irate investors, meanwhile the individuals that made 9 and maybe even 10 figures are penetrating vapor.

The youtube shills are not admitting they were wrong or saying sorry. They are instead continuing to say Bitconnect will recover to $300+ a coin etc. They are STILL trying to get people to buy the coin.

[Greenline]

They're using the 'we're in the same boat' excuse to an audience that got screwed over. I subscribed to Trevon's youtube channel when he was giving the .1 a day away and won one. There is a video from the fall where he couldn't transfer his own lending wallet to BCC using the ALL feature because in the time it took to make the three clicks, his balance went up on commission. From $800 to $2,200 by the time it took.

He had a downline of over 7K people all reinvesting 24 hours a day. penetrating insane.

[Greenline]

Does this change the f word to penetrating? Thats funny.

[Crusherrr]

Does this change the f word to penetrating? Thats funny.

Yes swear words are switched to Penetrate.

These guys got rich off Bitconnect. I mean $1m+ rich without a doubt and it's laughable people took the advice of a 17 year old kid in a tank top and actually put their net worth into this platform. I feel bad but they even opened a crypto suicide prevention hotline for these people.

[Greenline]

Is a million bucks worth knowing thousands of people on the planet wold love to have a word with you?

[Crusherrr]

Is a million bucks worth knowing thousands of people on the planet wold love to have a word with you?

$1 million? No. $10 million you can just disappear assuming your not in legal trouble.

[Optional]

Also, I don't think it's fair to say the real people behind Bitconnect weren't smart. They built this Ponzi 2.0 incorporating their own coin into the lending program pumping an artificial demand. They were also very fortunate in the skyrocketing bitcoin price, this really should have worked itself out in 6 months. If there ever is a behind the scenes look at this, the one thing that they may have messed up on is when did they sell off their premine? Coin went from $1 to over $415. I'm assuming they added the bulk of the premine to the market sometime around the 2nd week of Sept @ $120 to cover possible withdrawals on the first wave of expiring loans combined with a BTC dip.

And finally, these people had the referral system which spawned the YouTube shills who are facing the backlash of rightfully irate investors, meanwhile the individuals that made 9 and maybe even 10 figures are penetrating vapor.

Dude, it was a scam from the start, there is no such thing as a trading bot that makes 1% every day.... but 100s of ponzi schemes have used that exact same line through the 90s and early 00s of the internet.

It was never going to "work itself out". Learn from it, stop trying to justify your decision. It was a scam and you should have seen it as clearly as the youtube guy explaining it above. Hopefully next time you will.