Topic: BITCONNECT the most massive crypto ponzi scheme ever??? (Read 1466 times)
I am just hope Bitconnect will stay longer in 2018 or 2019, because i already invested there . It feels too late read this article but thanks for sharing to me
Yes its a Ponzi, but theres two reasons Ponzis work on people. Its always been the same two reasons:
1:
This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.
In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.
1:
I don't care, it made me a profit.
This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.
In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.
iam waiting for big cry from who doesnt care about his money.
people need to learn when they loss their money
so maybe next year and i believe it will be big news like mt gox
So now you know, it one big scam. It a ponzi scheme
Yes.
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
Lol, it's a magical trading bot that they've written that allows them to give away those interest rates.
It's a pyramid scheme (slightly different from a Ponzi scheme: http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp ) if I've ever seen one. There's a guy that promotes it incessantly on Steemit.
Part of me wishes I'd gotten in early to get in on it but then the moral part of me remembers that I'm basically stealing money from those that come in after I do.
Lol, how generous of them that they're sharing those crazy profits.
Such benevolence.
Yes.
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
Lol, it's a magical trading bot that they've written that allows them to give away those interest rates.
It's a pyramid scheme (slightly different from a Ponzi scheme: http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp ) if I've ever seen one. There's a guy that promotes it incessantly on Steemit.
Part of me wishes I'd gotten in early to get in on it but then the moral part of me remembers that I'm basically stealing money from those that come in after I do.
Yes.
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
If it sounds to good to be true, it probably IS to good to be true.
Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?
Clear Ponzi, I have no idea how its become so big when its so obviously a scam.
Thats crypto for you
Thats crypto for you
Yes its a Ponzi, but theres two reasons Ponzis work on people. Its always been the same two reasons:
1:
This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.
In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.
1:
I don't care, it made me a profit.
This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.
In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.
They have offices in 10 different countries and are sponsoring a few big blockchain events as late as November 2018. So Ill make my profits until at least 2018 .
Not to mention the crypto spending card that will be connected to your lending wallet. Hehehe
.Not to mention the crypto spending card that will be connected to your lending wallet. Hehehe
I suspected when Trevon James started promoting it.
Especially when he said it is some kind of investment that never goes down...
Especially when he said it is some kind of investment that never goes down...
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Altough I invested some in it and I made a profit till today I believe it is a dirty ponzi scheme, there is no way these people are not making any losses and paying between 0,1-3% per day to every investor there is, people have invested heavily in it, it is just a matter of time till everything collapses, for me something to be transparent is when people show themselves and where they stand for, these guys are very anonymous.
yes i think bitconnect is Multi-level model, take the payer's money paid to the previous user through the system introduction, and it will fall into a day not far.it is call ponzi, you should resreach it cleanning by click forum https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
after all i advise you not to invest Bitconect because it will speculative mania when you can not predict what will happen to it
after all i advise you not to invest Bitconect because it will speculative mania when you can not predict what will happen to it
Never join those organzations, they try to imitate bitcoin's model to make themselves exploit other people's money.
These frauders are never getting anough from their stealing money from you. They're pure ponzis.
Some guy, who was an experienced financial manager, on the BCC [ANN] page recently reported them to the FBI. I don't know if they'll do anything, but just so everyone knows.
can you give me the link bcc ANN page?? i want to know what happend there.
or maybe someone can help me to give that link page?
yes i think bitconnect is Multi-level model, take the payer's money paid to the previous user through the system introduction, and it will fall into a day not far.it is call ponzi, you should resreach it cleanning by click forum https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
after all i advise you not to invest Bitconect because it will speculative mania when you can not predict what will happen to it
after all i advise you not to invest Bitconect because it will speculative mania when you can not predict what will happen to it
Even when my good friend gain some profit in bitconnect i did not believe in their system. As of now i do not consider bitconnect as a scam because they are still paying but me personally i will not invest in it. I would rather buy new coins and test my skills im cryptocurrency trading.
I truly hope that bitconnect is not a scam
I truly hope that bitconnect is not a scam
Yes, Bitconnect in the biggest ponzi in th world.
Bitconnect use lending for pay interest on other lending, or in other word is a ponzi: in a few time, when "investors" will try to withdraw their money, bitconnect will collapse. Stay tuned, this will happen soonest as you think.
First, I am interested in bitconnect but seeing the system , i prefer to trade eth and btc. the security is better, both are traded in all exchangers, I think I will never invest in bitconnect. Bitconnect use lending for pay interest on other lending, or in other word is a ponzi: in a few time, when "investors" will try to withdraw their money, bitconnect will collapse. Stay tuned, this will happen soonest as you think.
Some guy, who was an experienced financial manager, on the BCC [ANN] page recently reported them to the FBI. I don't know if they'll do anything, but just so everyone knows.
I recently ran across Bitconnect today for the first time. Looking at their meteoric rise prompted me to investigate. It looks like everyone is making money. Everyone loves it. There is a network effect and more and more people are jumping in. While this looks great, there are some major fundamental problems:
Who is Satao Nakamoto? What a name, just like Satoshi Nakamoto, you'll never know who he truly is. He is apparently the lead developer of this platform, yet we have next to nothing on him. Not even a LinkedIn profile or even a photo of him on his Facebook. Who are the other developers?
Where is the whitepaper? Is it so proprietary that it can't be released?
Where is the money everyone is making coming from? Supposedly you make money by staking it with a "volatility bot" that makes money through some sort of algorithmic trading program. Where is the volatility program arbitraging its earnings from? What exchange is it trading on? The money everyone is making has to come from somewhere and it's coming from the new investors.
How is there never a loss? You make money every single day, there's never a day where you lose money. This is literally impossible. If it sounds too good to be true, it is.
Why do they need their own coin? You don't need a coin to run a trading bot. Is it so you could attract new buyers with a rising price?
If you are judging other people's or your own gains as proof of it's legitimacy, you don't even know what a ponzi scheme is.
I use to watch the show American Greed on CNBC and there were many ponzi schemes just like this one that stole millions or even billions by promising very high risk free returns and that is exactly what this is. It has a very well put together and functional website, which only reinforces the network effect and appearance of authenticity. This is a very well put together ponzi, one of the best I've ever seen.
With all these ICOs going on and no one paying attention, it's easy for something like this to roll on. The thing about ponzis is they survive as long as more and more people are willing to put money into it. Bernie Madoff ran a billions of dollar ponzi for years without getting caught.
Please correct me if I'm saying something wrong. Otherwise, get your money out!
Here's some further research:
https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
https://www.facebook.com/profile.php?id=100010892495970
https://en.wikipedia.org/wiki/Bernard_Madoff
https://en.wikipedia.org/wiki/Ponzi_scheme
http://www.hyipscope.org/?a=details&lid=6844 - "40% a month with no risk".....come on, now you're just admitting you're a ponzi
Thank you for the useful information, I've been trying to put some of my money to it but because if your info.Who is Satao Nakamoto? What a name, just like Satoshi Nakamoto, you'll never know who he truly is. He is apparently the lead developer of this platform, yet we have next to nothing on him. Not even a LinkedIn profile or even a photo of him on his Facebook. Who are the other developers?
Where is the whitepaper? Is it so proprietary that it can't be released?
Where is the money everyone is making coming from? Supposedly you make money by staking it with a "volatility bot" that makes money through some sort of algorithmic trading program. Where is the volatility program arbitraging its earnings from? What exchange is it trading on? The money everyone is making has to come from somewhere and it's coming from the new investors.
How is there never a loss? You make money every single day, there's never a day where you lose money. This is literally impossible. If it sounds too good to be true, it is.
Why do they need their own coin? You don't need a coin to run a trading bot. Is it so you could attract new buyers with a rising price?
If you are judging other people's or your own gains as proof of it's legitimacy, you don't even know what a ponzi scheme is.
I use to watch the show American Greed on CNBC and there were many ponzi schemes just like this one that stole millions or even billions by promising very high risk free returns and that is exactly what this is. It has a very well put together and functional website, which only reinforces the network effect and appearance of authenticity. This is a very well put together ponzi, one of the best I've ever seen.
With all these ICOs going on and no one paying attention, it's easy for something like this to roll on. The thing about ponzis is they survive as long as more and more people are willing to put money into it. Bernie Madoff ran a billions of dollar ponzi for years without getting caught.
Please correct me if I'm saying something wrong. Otherwise, get your money out!
Here's some further research:
https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
https://www.facebook.com/profile.php?id=100010892495970
https://en.wikipedia.org/wiki/Bernard_Madoff
https://en.wikipedia.org/wiki/Ponzi_scheme
http://www.hyipscope.org/?a=details&lid=6844 - "40% a month with no risk".....come on, now you're just admitting you're a ponzi
I will never risk my money again to something like this. Keep up the good work OP.
It's a ponzi. Never sign up to a system where you can't withdraw your money when you want to.
In all honesty Bitcoin is a ponzi scheme IF people are only in it to make FIAT profits... cause then it just relys like any ponzi scheme for more and more people to buy in and buy out older investors and at some point it collapses.. BUT if the community of BTC is serious it can be a real currency used to purchase goods and services.
But Bitconnect is a pyramid scheme, you lock your funds away for 200+ days and that alone is something to distrust it. Though Bitconnect just like BTC can become more than a ponzi scheme if the community is serious about it, that means no conversions to FIAT but actually use it for what its meant to do and thats to transfer value.
But Bitconnect is founded in the vision of profit and allures with high interest rates and referral bonuses whereas BTC was founded in the vision of a financial revolution meaning to give power back to the people or atleast break the monopoly of banks.
So.. it all depends (I'm staying far away from Bitconnect. BTC till I die)
But Bitconnect is a pyramid scheme, you lock your funds away for 200+ days and that alone is something to distrust it. Though Bitconnect just like BTC can become more than a ponzi scheme if the community is serious about it, that means no conversions to FIAT but actually use it for what its meant to do and thats to transfer value.
But Bitconnect is founded in the vision of profit and allures with high interest rates and referral bonuses whereas BTC was founded in the vision of a financial revolution meaning to give power back to the people or atleast break the monopoly of banks.
So.. it all depends (I'm staying far away from Bitconnect. BTC till I die)
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