RE: Texas state securities serves Bitconnect an emergency cease & desist order
It is not impossible. In my first 2 hours of trading ever, I was able to gain 5.87% just following steps provided by @quickfingersluc. Massive brokerage firms have been using trading bots for years. They just haven't been available to the general public. The problem I had is that I was getting emotional and couldn't spot trends and trade fast enough. Bots don't have emotions. They follow a specific algorithm created by the programmer. They take a statistical approach of wins vs losses. If the algorithm is set up conservative enough, it is statistically impossible to loose. If a bot is set up to allow risky trades, then 5% to 10% is obtainable per day. The problem is that there would be negative days and the principle is at risk if a crash happens. Bitconnect 1% on average per day is VERY reasonable and indicates a conservative algorithm. From that 1%, Bitconnect takes 11.5% as their daily take. Out of that 11.5% take from daily gains, it would take 83 days to pay off any bonuses that bitconnect had to pay. This is less than half of the typical loan term.
If these bots truly worked they way they say they do, then why the need for massive outside investment?? I would just silently run them until I drained the entire system dry. There are not bots. It's a scam!
Right. If these bots were that good one could make a mountain of cash with just a small principal.
Well you have a great point! however investing in anything at all is risky in general. so here is what i find that was helpful for me to decide if it was worth the risk. I like the payout but i also don't want to lose my hard earning money so i started to dig around for clue. here is what I found, a ton of people call it a scam so i dive right in and see what they have to say and again there was nothing of value all i herd was speculation and possibility. then I check for comment to see if anyone got burn and found none not even 1.. what i did next was the same thing i was on a hunt for clue and again found nothing. so i decided that ok it's worth the risk and so far it's good. but don't take that from me. go and do a research on your own if you find anything i would really like to know thanks.
how many scams you know that paid out over a million a day for one year straight
Literally just wrote the same then seen your comment. Totally agree.
These bots are being used by many traders. Mainly by people from the IT industry who can program them themselves. One guy at the office I worked at would autorun his bot and gain $300 a day a year ago. Having more money to invest gives bigger returns. For example if you get 3% of 100 or 3% of 10000 that's a huge difference. It's just leveraging.
Thank you,you tell those cretin imbecile fools.
Yes, trading on your own could be very profitable if you know how to. I have made more than 1% daily returns per day trading on my own. Imagine bitconnect trading using bots?
Exactly, I'm no expert at trading. I made plenty of mistakes, but came out really well. Bots can do way better. They don't make mistakes. They don't sleep take breaks, eat, etc., and they are way faster at analyzing trends and can take in multiple sources of real time data at once.
If Bitconnect does have the bot they say they do then why do they need others people money to invest? Why not invest their money and take 100% of the rewards? And why the need for the ICO they are launching?
The 1% daily might be possible but what about paying the massive massive referral bonus on top of that?
I'm not a massive Bitconnect fan but I don't see how a U.S state can stop it, it's not even based in the U.S so they have zero power. They can stop people from their state accessing the site but it's not hard to get around.
@somecoolname as a business you know you need money to make money and if everyone had selfish thinking, they wouldnt be communities like steemit or the creation of bitcoin. Bitconnect had plenty of legit times to close down and they didnt. Their are bots you can program just google it.
Every-time you sell or trade or send coin to different wallets there are fee involve.
Bitconnect is not going to allow the people of Texas to use the platform after they get their capital release.
People have power and if someone see a problem and take action it will bring attention that issue. This isnt the first time bitconnect was attacked.
"if everyone had selfish thinking, they wouldnt be communities like steemit"
I seriously doubt the creators of Bitconnect made it for the good of humanity.
I genuinely hope it isn't a scam because I'm guessing you are invested and even though I don't know you I honetsly don't want you losing any money. I hope it continues for a long time and you benefit from it. There has been so many in the past like Bitpetite, Hexabot etc and a lot of people lost a lot of money.
Peace.
The reason they use other people's money is for leverage. You lend them money and they give you back the principal and a small percentage above that. What they get out of it is that they make a lot more on top of that.
This is the basis of any banking system. When you place your money in a savings account, the money is sitting in a vault, the bank is investing it. While they'll return 0.25 - 1.0% annually to you, they make 4 - 10% on that money for themselves. Multiply this by millions of customers and this is how banks become so big.
BitConnect is utilizing this same law but for the Blockchain.