Due to large Deposits and Withdrawals Bitconnect is having problems with Bitcoin Wallet. (The Excuses begin!)
I have not invested in bitconnect for I know it is a Ponzi, I did how ever create an account to see how long it could go.
I think that time has come and it begins.
Email I Just received 6 minutes ago.
I hope no one really "invested" what they could not lose..... I do not know the full details of account deletions for having negative balances but it seems to me they want people to continue depositing their money to continue the ponzi.
I think too it is a ponzi, stay away from it!
Here are some potential things you may see before they "go dark" and run away with your money:
All the while, they are simply prepping to "clean house" and get rid of any evidence that traces back to them. During their website downtime, they will clean up all files related to their operations. They may come back for a bit longer to give you updates on their progress and to tell you everything is great, soon to be running at full steam ahead, but they are just buying more time to back up their bags.
A classic example is Gladiacoin, LOL!!!!! If you were to check out their website today, you'd find NOTHING! Website is GONE!!!!
I don't get it. This is such an obvious scam. Just because people are making money, doesn't mean it's not a scam. Even ponzi participants made money . . off of others.
Many people have heavily invested in bitconnect and the ROI is good too but there is 2 major points which just to get a BS alarm on my head.
Firstly even though Bitconnect token is worth over 100 USD it's not listed in any major exchanges.
Secondly the referral system is quite similar to a pyramid scheme.
There are many people who have invested and got their money back good for them but for one person getting there investment back three person doesn't get it.
Haha I posted about this scam issue 2 days ago and you are right because the concept is very weird. (see my post for analysis) , upped. Another issue is when time will reach for thousands of people who invested to take back their seed money...
In addition to my comment, feel free to join the conversation in my new post about future of steem...it will motivate you more about steem . More success to you.
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.
This! Tip!
Thank you very much @cardboard! I appreciate it.
people make more money holding bitcoin anyway
What effect do you think it will have on the rest of the market if it collapses? A loss of faith in other coins or will the market just brush it off as something that has been coming for a while?
poswallet was hacked and shut down and so proof of stake will keep looking bad, since bitconnect is proof of stake, and etherum is supposed to convert from proof of work to proof of stake, man, u gotta start learning how to stake coins...i guess steam it's like staking, dang i wanna be staking coins though....
Maybe they actually had some technical issues, you can't judge them that quick now do you? I hope they will actually fix it and you'll get your money back pal, best of luck!
Whale done!
whale thats a pretty good whale pun there
Let's give them the benefit of doubt before judging - However it seems really suspicious, you are definetly right with that :)
PS: Is your 5SBD offer still alive?