1. #1
    GimpedMaster
    Go Cards!
    GimpedMaster's Avatar Become A Pro!
    Join Date: 11-15-10
    Posts: 624
    Betpoints: 534

    BitConnect - Anyone here a client who can give feedback?

    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

  2. #2
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 31,134
    Betpoints: 1093

    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.

    SBR Bash
    Punta Cana
    Attendee 2/4/2017


  3. #3
    Unwritten Law
    Unwritten Law's Avatar SBR PRO
    Join Date: 10-31-13
    Posts: 2,078
    Betpoints: 60

    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.

  4. #4
    illiteratepotato
    illiteratepotato's Avatar Become A Pro!
    Join Date: 11-02-17
    Posts: 23
    Betpoints: 228

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

  5. #5
    Cookie Monster
    Large moneylines
    Cookie Monster's Avatar SBR PRO
    Join Date: 12-05-08
    Posts: 2,153
    Betpoints: 51419

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

  6. #6
    GimpedMaster
    Go Cards!
    GimpedMaster's Avatar Become A Pro!
    Join Date: 11-15-10
    Posts: 624
    Betpoints: 534


    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.
    Last edited by GimpedMaster; 12-18-17 at 11:59 PM. Reason: Pic

  7. #7
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 31,134
    Betpoints: 1093

    That didn't last long!

    SBR Bash
    Punta Cana
    Attendee 2/4/2017


  8. #8
    JAKEPEAVY21
    JAKEPEAVY21's Avatar SBR PRO
    Join Date: 03-11-11
    Posts: 11,682
    Betpoints: 524

    Quote Originally Posted by GimpedMaster View Post

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/18/2018

    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/11/2018

    SBR Bash
    Punta Cana
    Attendee 2/4/2017


  9. #9
    Crusherrr
    Crusherrr's Avatar SBR PRO
    Join Date: 06-27-16
    Posts: 611
    Betpoints: 36

    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/22/2018

    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/15/2018


  10. #10
    Bsims
    Bsims's Avatar SBR PRO
    Join Date: 02-03-09
    Posts: 337
    Betpoints: 965

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

  11. #11
    Greenline
    Greenline's Avatar Become A Pro!
    Join Date: 10-05-17
    Posts: 48
    Betpoints: 2353

    Quote Originally Posted by Bsims View Post
    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

  12. #12
    Greenline
    Greenline's Avatar Become A Pro!
    Join Date: 10-05-17
    Posts: 48
    Betpoints: 2353

    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.

  13. #13
    Crusherrr
    Crusherrr's Avatar SBR PRO
    Join Date: 06-27-16
    Posts: 611
    Betpoints: 36

    Quote Originally Posted by Greenline View Post
    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/22/2018

    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/15/2018


  14. #14
    Greenline
    Greenline's Avatar Become A Pro!
    Join Date: 10-05-17
    Posts: 48
    Betpoints: 2353

    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.

  15. #15
    Greenline
    Greenline's Avatar Become A Pro!
    Join Date: 10-05-17
    Posts: 48
    Betpoints: 2353

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

  16. #16
    Crusherrr
    Crusherrr's Avatar SBR PRO
    Join Date: 06-27-16
    Posts: 611
    Betpoints: 36

    Quote Originally Posted by Greenline View Post
    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/22/2018

    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/15/2018


  17. #17
    Greenline
    Greenline's Avatar Become A Pro!
    Join Date: 10-05-17
    Posts: 48
    Betpoints: 2353

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

  18. #18
    Crusherrr
    Crusherrr's Avatar SBR PRO
    Join Date: 06-27-16
    Posts: 611
    Betpoints: 36

    Quote Originally Posted by Greenline View Post
    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.
    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/22/2018

    175 pts

    3-QUESTION
    SBR TRIVIA WINNER 01/15/2018


  19. #19
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 31,134
    Betpoints: 1093

    Quote Originally Posted by Greenline View Post
    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.

    SBR Bash
    Punta Cana
    Attendee 2/4/2017


Top