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RE: I know everyone hates BitConnect, but does anyone know if their robot bets against Bitcoin in a down market?
I would assume there is no trading robot.
If this automatic trading happened, and, it was making a profit, why would anyone want to share that out?
If I could just make up a 3% monthly gain (for example) then I wouldn't need anyone elses money.
They need more money to make more money. If they only used their own, they wouldn't be making nearly as much. Hence the reason why they borrow. The more they have, the more they make.
It's the same concept as hedge funds. Why do they take in new clients with new money, when they could just use the money they already have? Well because having more money makes you more money.
There are many types of coins or assets or companies that all claim this happens.
Trade Coin Club, The Billion Coin, Gladia Coin, OneCoin, Bitcoin doublers... they all work off of bringing in new money to pay the interest for people who 'invested' their money earlier.
If I always gained money, and I was asking for investments... something is wrong.
I won't touch that coin, or any other coin that uses referrals... ever.
I hear your worries, but I think a 1 percent payout daily over what they are getting in return for their Bitcoin gains is actually ripoff on our side.