ok if you must insist then here's the proof!
I’ll bite. But I won't give you more than two minutes of my time..
I lost a lot of money in Bitconnect. I also introduced friends and family. I put a substantial amount of my own money into this venture. I was always clear about the risks because it was clear to everyone there were risks..
It is quite possible that BitConnect is perfectly legit and many made judgements too earlier without really doing their own research.
I truly hope this turns out to be a legitimate venture and does not place any type of black mark on cryptocurrencies. That would be bad. The average deposit into BitConnect is around $220. Be careful and never risk more money than you can afford to lose in any investment.
Compounding interest at 26% a month is worth it for me to risk some capital and give it a try. I will keep you updated on my progress and findings.
People took the risk for the same reasons I did. They felt it was worth the risk.
I did my research. I figured they had enough capital raised from their pre-mining to at least run until late 2019.
When the company created their BitConnect Coin (BCC) they performed a pre-mine to to generate at least 4.8 million coins (think stock in an IPO). Then they have adopted a Proof of Stake / Proof of Work system. In cryptocurrencies Proof of Stake means that you’re rewarded interest in exchange for not selling your coins.
In the past year from August 2016 to August 2017 they have accumulated $102,187,320 in interest alone from their Proof of Stake. $100 million.
There holding of 4.8 million coins has appreciated from pennies per coin to +$60.
* Started at, 4.8 million coins x $0.145625 = $690,000
* Today, 4.8 million coins x $63 = $302,400,000
*
Interest from Proof of Stake alone on their holdings alone would cover all payments today. But I expect BitConnect Coin trades into the triple digits within the next six months easily.
In spite of your efforts Doug this is no aha gotcha moment! I said it from the very beginning over and over again at the launch of this project. The team behind Bitconnect who came up with the model are geniuses. I saw that this model was the best there is.
The problem was there was no transparency and no proof of a trading bot. That is why I set out to create Bitcoin Growth Bot. The first and only investment program with full transparency and third party verification of a real trading algorithm.