Bitconnect investments thoughs

[Spellslinger]

Hey

So I invested around 12000$ in bitconnect around 3 weeks ago.

So far I got 3000$ back in 3 weeks, the website has been up for around 2 years, and the average return of the past year is almost 1% per day, so you usually get the investment back within 100 days.

They have a market cap of almost 1 billion

[Removed]

With the insane amount of people investing in it currently, I would probably give it another 6-12months before it collapse or around that, thats my though at least.



Has anyone else invested in bitconnect? if so what are your though about the legitimacy of it?




Also I am not really advertising for that website, it's just that I invested in it 3 weeks ago and already got so much back, and also I am not 100% sure when the site will collapse. It's really like gambling, if it collapse in 1-2 years and you invest something and keep withdrawing from that single investment, you will make alot, likewise if it collapse in less than 100 days which will mean you will most likely lose everything.

 

[SaltnVinegar]

BitConnect is a pyramid AND ponzi scheme all rolled into one.

As my old man would say, its "Mutton dressed up as Lamb". They market themselves very well and hide the fact that its a pyramid/ponzi scheme. But if you do your research and digging, you will see it for yourself. There are plenty of reviews and details on how to explain the above all over YT and Google.

If it was this easy, don't you think everyone would be doing it? It's not a sustainable business model. The coin you get from BitConnect in exchange for your real $'s, is only worth what people are paying. Once people stop purchasing it, it's value will drop. It's like a hype train.

Here is some, what I believe, are accurate assessments regarding BitConnect.

https://gyazo.com/14dbbfa4d77c4816272d98252b75f293
https://gyazo.com/436d05fc5d492ca8e9ebaabee32b013b

A lot of my mates have been getting into it, and I also give them the same advice. Any money invested in BitConnect should be seen as a gamble, and you should only invest in it what you're willing to lose.

If you can afford to lose it, I think it's worth putting a 100 into it. If it's still around in a few years time (doing what it does now), you'll come out far ahead.

 

[EpicNPC]

@Spellslinger congrats

 

[SaltnVinegar]

@EpicNPC We're talking about BitConnect. Not BTC. BitConnect give you their own coin (BCC) in exchange for BTC. I never said Bitcoin is a pyramid/ponzi. BitConnect is. Feel free to google "BitConnect" if you haven't heard of it yet. It's like a new fad.

 

[EpicNPC]

lol, whoops, missed that. Sorry.

After taking a look, it does seems like it could be a scam. You're basically giving them bitcoins for their BBC coin, which can't be used anywhere but their website. The problem is if their site isn't popular enough, no one will want to exchange real bitcoins with you and you'll be stuck with their BBC coins.

In the worst case scenario the site doesn't do well and shuts down, anyone with BBC coins will lose everything. That's a huge risk to take.

I'm not sure why anyone would use Bitconnect, why not just buy bitcoins directly and hold them in your own wallet?

 

[The Integrity]

I'm not sure why anyone would use Bitconnect, why not just buy bitcoins directly and hold them in your own wallet?

Because they offer you a good interest rate for having their currency, over 100% per year.

It will collapse sooner or later, but those who came in first can earn a lot.

 

[EpicNPC]

It's a scam and they have done it before. [MENTION=331959]Spellslinger[/MENTION] you need to get your money out asap if you still can.

Their domain info is private and there's no contact info on the site.
https://www.whois.com/whois/bitconnect.com

nameservers are these:
Name Server: NS1.P-O0I9U8Y7T6R5E4W3Q2.COM
Name Server: NS2.P-O0I9U8Y7T6R5E4W3Q2.COM

These are the same nameservers used on coinnomia.com which is another site that does the exact same thing.
https://coinnomia.com.cutestat.com/

A ton of scam articles about coinnomia. I guess they started over with bitconnect.
https://themerkle.com/bitcoin-scam-site-warning-coinomia/


If it sounds too good to be true, it always is. This is 100% a scam.

 

[slyre]

Wow, I wish you the best of luck Spellslinger.

 

[LeagueShack]

Banned - scammer - d3vsteve

I am not sure if you ever played runescape, but this is exactly like a "merch clan". When a merch clan tells all its members to buy an item, the prices raises significantly due to everyone buying the item and not enough supply for the demand. But just like all items being merchanted, it will eventually drop and completely crash. How people made crazy amounts of money from this (including myself) is knowing when to sell your items.

Not saying you can't profit from this because you can for sure. It's just the fact of knowing when to get out.

Once the demand is gone say bye bye to all money that currently held in investments on the website. Like you said, its a gamble. If you do it smart, you can go home with a huge piece of the pie.

My point is that the owners of the "merch clans" had almost no risk while putting everyone elses money on the line, but there were still the smart people out there that benefited from this. This is very similar to the scenario you're in now.

But yeah, this website is a scam and is only 100% risk free for the owners.

 

[InsvnityTest]

@Spellslinger, Don't you think you could make tons of money by investing some of your money to get a decent cryptocurrency miner and mine by yourself?
And as everyone said, the whole concept is too good to be true and i doubt the site will survive for more than a year before bailing out with all the money.

 

[The Integrity]

gg bois

 

[EpicBoost]

RIP BITCONNECT LOL

 

[EpicNPC]

Wow, they hit a 2.4 billion marketcap!

This was so obvious it was a ponzi scheme it's hard to feel sorry for everyone that lost their money. Hope you got your money out spell.
https://coinmarketcap.com/currencies/bitconnect/

 

[D3BOOST.com]

[MENTION=331959]Spellslinger[/MENTION] how much did you end up losing?

 

[Spellslinger]

[MENTION=283946]D3BOOST.com[/MENTION] I didn't lose anything actually, the ROI on it was 100 days, i had 13000 for around 130 days, so i gained just over 3000$ because i withdrew everything + bitcoin went up, if i invested the 13000$ in btc i would have made 26000$, but i invested in this **** ponzi so yh only 3000$ profit overall but at least nothing lost I relised it was going to go down sooner or later so i withdrew all my funds all the time.

That's pretty much what i had:
https://gyazo.com/9665bea707f29bcef30976360f2e6ed0

 

[D3BOOST.com]

[MENTION=331959]Spellslinger[/MENTION] Great I'm happy you didn't lose anything.

 

[EpicNPC]

Glad you got your money out.

I sold most of my bitcoin when it was under $3000. (not bitconnect, normal bitcoin) Thought 400% increase was too much and that there was no way it was going to keep going higher. Whoops.

 

[ITALY]

Glad you got your money out.

I sold most of my bitcoin when it was under $3000. (not bitconnect, normal bitcoin) Thought 400% increase was too much and that there was no way it was going to keep going higher. Whoops.

Lol same, i was sure it was gonna drop, whoopsie

 

[Firana]

Just notice:

Nothing is real. Never invest some money which you don´t accept to lose.
I´m investing a long time in HYIPs and Bitconnect is an HYIP, too.

 

[Sakura]

This aged rather badly.

 

[SaltnVinegar]

I was right though.. heh