You are viewing a single comment's thread from:

RE: BitConnect Review - Will The Site Return To Normal or Was This All Planned Beforehand?

in #dtube7 years ago

Having a bot for crypto trading is actually not that hard to get or super expensive. There are in fact some surprisingly cheap ones (relative) if you are unable to write your own.
Any scripter or even programmer that is worth his salt and knows a how the crypto market works, plus some knowledge and understanding of the financial market can easily write his/her own bot and get it to work profitable.
Those that own and use a bot (whether they wrote it themselves or just bought/leased one) do make their money, but are usually not vocal about it.
About the 1% profit per day, that is actually very easy to get. A good and experienced trader or even a well written bot can easily get 5% or even more per day without much trouble.
In light of this, if they in fact have a bot like the ones i just described, they could stay a lot longer.
I have analysed that site in detail and came to several conclusions.
The referral program is actually not really hurting them. Even with all levels involved, they still make enough even with full payouts. It's simple math.
The 1% daily plus the guaranteed extra % for those that put in more money, can in fact be sustainable, if they did their homework. So far at least it looks like they did.
The fact that they have their own currency makes them a lot more stable. Again simple knowledge on how crypto-currencies work and the potential they have.
I am not saying that they are a scam or legit. In both cases, websites and services can shut down for a multitude of reasons.
One of those reasons is visibility. In some if not most countries the law enforcement agencies (LEA) do take a hard stance on anyone involved in crypto. Being anonymous is in this case a good thing and i can't really blame them for staying behind the curtain. There were already a few cases where LEA took out some people, sites and services that did nothing wrong (at least nothing illegal) but were just involved with crypto. Even just owning such can be dangerous.
Are they here to stay? Maybe, looks good so far at least. Will it be years or decades? Only time will tell. Months? Certainly. Years? Probably. A decade? Unlikely.
One more thing, people are fast in using the work scheme in a negative way. Everything is a scheme, it just depends if it is a good or a bad one.
In this case it remains to be seen.
Disclaimer: I am not affiliated with that site in any way. Yes, i do have an account there, but it is empty and got created for research purposes.

Sort:  

Thank you for your opinion and your analysis on the platform. It is good to see the different opinions on BitConnect and platforms like it. My opinion comes from my experience as a participant in many platforms like it and as an owner running these platforms. My goal is to ensure that when people invest in these platforms that they are aware that their are risks involved and that they should be prepared on both ends especially if things do not work out as they were told. That all as everything is not what it may always appear to be. However, great response and I respect your opinion even if we may somewhat have a difference of opinion.

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.029
BTC 76262.49
ETH 2949.42
USDT 1.00
SBD 2.63