RE: Bitconnect Is A Scam - Red Flag #1: These Gains Are Impossible - Don't Make Craig-Grant Your Next Pirateat40
I would like to add more red flags:
Flag #3: Their wallet software does not work. I downloaded and tried running their wallet on Linux and 1) it requires people to download dependencies first and there's no documentation (I'm technical so I figured out what's needed), 2) it actually does not work!
Flag #4: Complete lack of transparency. They are not showing their accounts nor transactions on the blockchain to prove their profits made by the bot.
Flag #5: They said it's "open source" but their GitHub site shows no activity, so clearly they dumped some shit on GitHub just to claim that it's open source.
It's clear in my mind with 100% certainty that BitConnect is a scam and a ponzi scheme.
I did invest a little bit into it to see for myself, so far received %10 of my investment back in profits and I am taking all of that out as soon as possible to recover some of the loss. Basically, I do consider the money I "loaned" to the trading bot to have been "donated".
Here are some flags I'd previously written up to add more posts on:
Flag #2: No exchange support
Flag #3: Bitconnect users unironically use the term "down-line"
Flag #4 Thailand
Flag #5 Secrecy
Flag #6 Reinvestment of proceeds
Flag #7: Github has only 19 commits on 1 tree. Compare to Steemit at LOTS.
It seems like we are thinking along the same lines.
"It's clear in my mind with 100% certainty that BitConnect is a scam and a ponzi scheme."
I think that pretty much covers it.