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RE: $70,000 earned in 2 months from a $100 loan
He didnt specifically earn $70000 from one $100 loan. Lets be clear about that.
What the $100 loan allowed him to do was promote Bitconnect and FROM that he earned a lot from people signing up under him. Which I am one.
I dont make money on it from referrals, I make it on the loans, which I have made several hundred this week alone.
Its not a scam because you can see the blockchain and you can download the software off of github, because it is open source.
A setup that is on a blockchain and observable as open source software is the complete opposite of a Ponzi scheme.
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Well I can tell you from a personal experience, that I just went to Ny and when people asked what I was doing now, I told them about collecting bitcoin. Would you believe almost half my family are doing the same? Their eyes lit up. Not a scheme. What they didn't hear about was Steemit. Guess who told them :)
Say it with me now.. "blockchain" "open source" "300M Market Cap" "Top 20 Crypto"..
You can see the Blockchain here: https://www.blockexperts.com/bcc
And here is the software, where ANYONE can download it or audit it. https://github.com/bitconnectcoin/bitconnectcoin
So if the website goes down. So what? Someone that knows what they are doing will bring it back.
Thanks for the links I'll check it out!
So why didn't he post anything about what is it? Still noone axplain anything, couple people excuse OP with his good valued votes
He has posted before about how it works. He has numerous posts on Youtube about it.
How much money do you earn doing it Your way??
Thanks :)
Depends on the day. I have several loans out. For example one loan I have of $5020 I earned $76.81 on it yesterday. But that's not everyday.
And I just started a $4020 loan two days ago and I made $60.78 on it today. Now those numbers don't happen everyday, but they do happen.
If anyone is interest sign up here.
nice loans you have there, doin big tingz
I'm 1/2 way through your video.
So, you earn about 1.5% -??
Maybe a little more in a month.
poloniex.com pays out about 50% apr - that is just an average, but most do better.
I just looked it up. Based on the 30 day average a $100 loan with get a 361% return over 365 days.
You can check here, the calculator is on the right: https://bitconnect.co/learning-center/bitconnect-bitcoin-price-volatility-software
Can you please direct me to a detailed video tutorial where I can watch the detail like how to tale loan and all that?
And I just noticed we're both from Virginia. I'm in Richmond.
Sorry - meant to say I'm in Harrisonburg - Shenandoah Valley :)
KoOol!
I notice they keep your money for 333 days!
What happens if the value of the currency increases?
But I still think it is a great investment, because you get back what you put in plus interest. Yes, you lock up your money for awhile, but the value of the money won't go down.
You can hold the BCC token and try to profit from the increase there. But your capital is released you get back the equivalent in US $ of what you gave in the loan.
Soooo, if the currency doubles in value, you would still be making a lot more from the loan than you would from holding it as it goes up in value - right?
No. The interest is paid in US dollars. To benefit from an increase in the currency you have to hold the currency and not loan it. I've done both.
Very small world sometimes :)
Watched the youtube, looked nice. but men the world is going fast.. just started the whole crypto a month ago... made some mistakes... now 13 days I am on steemit... I dont think I can handle another one the next 2 weeks...
thanks for your comment! it was helpful
Can you tell me if you have to wait a certain period before actually cashing out with this program? And if so how long before you get paid?
You get paid every 24 hours after you start a loan. Open a loan at noon, you get paid daily at noon.
Oh ok so they will deposit bitcoins to you right away. I thought maybe you have to wait a certain time to get your profits, profits you can actually use. Ok thanks.
Not quite. You are given a dollar amount first. You then exchange that dollar amount for equivalent amount in BCC tokens. You then sell BCC tokens for Bitcoin.
Think of it like an I.O.U
You get an IOU every 24 hours. You can KEEP the IOU and let it accumulate or you can reinvest or trade it for BCC tokens.
And you have to wait 24 hours for the first one.
At least you can exchange it for BCC tokens sounds like something i will look more into. Thanks ssl.
So this is crypto money lending?