It has none of the traits of a ponzi scheme.
Lol. Gotta love it. A true cult follower, ready to go down with the ship!
Are you blind or just f**king stupid?!
This is tell tale sign of how a ponzi SCHEME - CON JOB operates.
Or are you just so naive and living under a rock for the past 9 years since crypto started (early 2009 - 2017 is coming to end you nit picky nerds
) to even notice when you are just following your greed?
I like what I just read on a slack channel of another ICO.
It boils right down to it and what the main goal of ICOS are about in gathering loyalty from it's followers and then leaving the crime scene unscathed:
nomader 6:27 AM:I don't care either way. If the price goes 4-5x because of FOMO after the ICO when the coin hits the market, that's fine with me. The devs can run off with the money after that most of crypto is a scam and most ICO's are pure BS at the end of the day as long as you are not a bag holder and you sell before the people beneath you, who the fuck cares.
That is what being true crypto (derivied from the word cryptic you naive people who thought BCT was gonna pay you at the end of all this!) is all about.
You want to play with the bull you better be ready to have horns embedded in you ass!
I think most people know what the ponzis are..... bitconnect.co were profiting hugely though from their lending system because their coin was growing faster so both bitconnect and the investors were sharing the profits and nobody was losing. The trouble is I think they stumbled upon this accidentally, unless they really do have a trading bot as I just noticed that it's on the front page of their site and goes back to before they even had any coins although it's possible they were profiting from the rise in BTC when investors swapped it into USD as it would only take about a 5x increase to cover everything (the tab on the graph showing the bot percentages goes back to march 2016- weird I never noticed that graph before but it was on a separate tab). Anyway, they were in no financial trouble, so not sure why they would think of exiting yet. This problem might be a good excuse. By the way, I saw someone posting at the top of this page about control-finance (an obvious Ponzi site) being down but they still seem to be up....
Bitconnect is basically the only one that would be sustainable. Can anyone point to any info about how amis went down?
Another point is that their exchange does offer them the possibility of making money too from the commission and obviously the BCC also gains a high monthly staking percentage that they can pay affiliates with (lenders lose out on this when they lend into USD). Their massive growing profits over and above all their liabilities (which may have been lost now from the glitch) also made them valuable to invest in but their original intentions seemed suspect, anyway, unless this bot was real. The crazy thing is that their huge staking profit from their reserves aren't even necessary either and they can build up a lot more profit from just continuing as they were. Would be hard for them to crash if they just had minimal risk management. They even lock out their exchange when there is a panic.
How do you know that Bitconnect was profiting from a volatility bot? Where is the proof it actually exists?
I've tried to get them to talk, but they are the most reticent and unaccomodating PR team with whom I have ever tried to communicate. They don't respond to anything. They have yet to post anything here to their own thread that they created, what a bunch of idiots, don't they care about their public image? They are clearly trying to hide something.
I've asked before and I'll say it again. They need to have an independent third party financial audit to prove they are solvent and legitimate. Many legit exchanges have them done regularily. If they can't do this after this "glitch," you can't depend on them for anything. They are nearly a billion dollar coin, show some transparency, take some fucking responsibility and show respect for your customers.
As for what Gleb wrote, I agree it proves nothing, even though I do agree with him this is a fraud.
I think this is what did these double withdrawal amounts.
Making it to look like they were getting hacked or whatever they will claim was happening to their system.
So for a reason to close down the site due to maintenance just to give them more time to get away with investors funds.
I wouldn't doubt if that one account with was able to do 140BTC with the "glitch" that was faulted into being able to double the withdrawal amount,
was done so to send back to the owner's of the site own bitcoin wallet at a later date when all the heat is off them.
I wouldn't doubt it for a second on what is going on here.
Mark my words!