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RE: Due to large Deposits and Withdrawals Bitconnect is having problems with Bitcoin Wallet. (The Excuses begin!)
If you really could consistently get this insane amount of interest on your money, everyone in the entire world would use it and know about it. It is undoubtedly a scam that will eventually fall apart. If they somehow knew of a way to get 0.8% / 1% interest each day they would not share it with people but keep it to themselves and be the richest people in the world in a very short time.
The sad part is that when it inevitably collapses, it will damage and tarnish the entire cryptocurrency market as people will be more hesitant to invest in new technologies fearing they might be scams as well.
It's a classic Ponzi scheme, and I hope you are smart enough to understand why an opportunity like this will always be a scam.
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That is good actually because people are becoming very irrational in cryptoland. Good project are getting less valuation than scams. We need a dose of reason, and if the collapse of bitconnect is what it is going to take, then so be it.
Why does coinmarketcap still list it? why do lots of exchanges sell and buy bitconnect tokens? Go on Novaexchange bitconnect tokens are on novaexchange.... at this point it could keep funding itself with bitcoin profitts alone lol
its grown into much more than a normal ponzi, this is more like a federal reserve type scheme, its a ponzi scheme with its own proof of stake crypto currency lol its like a cancer!
and theyre gona have this "control finance" thing where all their loans will be put on some Blockchain thats all decentralized so yeah I guess its gonna keep going, i dunno why coinmarketcap lists it
cant they just have bitconect tokens backed by bitcoin basically?
Like people who invest in bitconnect could have made more money just holding bitcoins right?
https://coinmarketcap.com/currencies/bitconnect/
Its very interesting for me, seems like they have a decentralized cryptocurrency, low volume, its always high on the oinmarketcap ranks one of the top 12 crypto currencies actually almost 1 billion marketcap,
LOL look at this hilarious video they show, "what is bitconnect" on their news site, its got people running around in piles of money, money trees, etc
but u know u can just buy bitconnect token on exchanges and stake them in a decentralized QT wallet?
so this is a big problem!
This is a very complex scam
I agree that coin market cap has helped spreading the scam by listing it as a top coin. They have even posted ads for bitconnect for a long time !!!
I also agree that it is a well-played scam with a huge magnitude.
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Thank you very much @cardboard! I appreciate it.
people make more money holding bitcoin anyway