After bitconnect fall - all Lending platforms are going down.(Some confess inside.)
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I imagine that this post will annoy many people. Try to understand, I too fell into the trap, luckily I did not lose!
I have to say that I'm very hurt about people who lost their money in these things - Bitconnect, Usi-Tech etc ..
the first video I saw about BitConnect was by someone in Israel.
I confess I have one of the first YouTube channels in Israel that talks about digital coins
My first video and a few more were on BitConnect!( IOTA, NEO, EOS, STEEM ETC..)
Very quickly people started to warn me,
I must say I do not understand anything in the financial world! My knowledge is over in supply-demand and resistance points, Fibonacci corrections and... that's it lol , most of my knowledge is in technology.
I saw this BitConnect model and saw that they were paying me for the $ 700 I put there daily.
I said if I put MY money there then why not bringing peoples under me with referral links, I saw that everything works smoothly, why not? I'll even give them 50% percent of my referral rewards(lol).
Suddenly videos on BitConnect like mushrooms appeared on YouTube!
1% a day! Too good to be true, It's a scam, It's Ponzi scheme ( I didn't even know what Ponzi is).
But I told myself (really innocently) if Bitcoin raise up by hundreds of percents, why can not they pay one percent a day? And it's not that they commit to 1% a day. There are days of 0%.
with the amount of money that they got they can build a good trading bot Like
"Gunbot".
NAIVE!
I was lucky, my desire was to really contribute to people,
There was simply no information in my language about alternative digital currencies.
Someone suggested that I set up a course on Bitcoin in Israel and told me that I had to close the channel because if I have a channel about crypto I am a competitor of our course.(after 40k+ views)
Luckily for everyone who entered under me I told him it was dangerous, with the majority I spoke on the phone(7 of 8) and everyone from Israel, to my great fortune also everyone entered 100 days before it closed so if they did not reinvest they returned all their money back.
I remember seeing a video on YouTube that made me decide that I would no longer advertise BitConnect in any way, no matter how much money I lose now.(I don't remember the name of the channel)
He said something like that
"Maybe there are people who go into BitConnect and really make a profit, but pay attention, probably if it's a pyramid, everyone who comes after you will have less chance of earning and more chances to lose!"
This is the first time I have realized what damage a pyramid can do (naive right?) Or that the money just made me blind - luckily very few people came under me(8) and I closed the channel before the big buzz on BitConnect.
I really made myself blind, I did not even bother to do the simple math.
It took me a few months to understand. Luckily, God saved me from getting people into the trap!
thanks, GOD!
We tried to warn people to stay away from scams, but people are too greedy. This is what always happens at the end.
I don't understand how people can believe this kind of Ponzi schemes.
1% a day without doing nothing, yea, sounds legit.
It was obvious that it will happen, they were just waiting for the right time.
I'm glad it didn't affect you or the people who joined under you.
BitConnect is frud always
It is hard to not believe. When we see interest rate and getting interest consistently, we get greedy. Everyone wants to be millionaire without working. I am one of those who invested in Bitconnect and other lending platforms. Life teaches you with experience.
גם אני תאמין לי שגם אני
Yeah me too
People have a tendency to believe anything they really want to be true or fear is true.
That's the main factor in these chain and referral schemes, those who entered into them at the very beginning got the biggest piece of pie and those who get into these schemes later gets a very little piece,
I already made a post about this scam and why are these Lending platforms are very risky to get involved because they got our Btc and now it's upto them to give our money back,
Iam glad that you give warning to your joiners about the risks of this project and safe them because many people are now filing legal suite again those people who advised them to get into it and this is the most biggest scam in lending platform and we have to take this as a lesson and try to be aware in future before investing into these Lending platforms. :)
I really respect your honesty. very good post. :) Peace.
Yes, even if a scam does make any profit, someone will have to loose !! We shouldn’t be a reason to make them loose their money ! We shouldn’t be so selfish and should think about others !! I was also involved in referral schemes at a time. Thank god for taking me out of it.
Good piece of information. Keep it up :)
one step more you are touching 60 reputation congratulation following you for your good content
Yes :D :D Thank you.
I was on it as well..
for few videos which I removed after I saw this video at july 2017
Everyone does mistakes. What is more important is to learn from it. That's why the universe always help the good hearted people like it helped you and me. :D
thanks for the worming words!
Thanks for the warming votes ! :D
I think its advisable for people to make excessive research before deciding to engage. Most ppl are not patient, thats just the problem and that blindfolds them from figuring out the truth. Patience and research is the key.. People should learn to investigate by themselves. No one needs a detective on stuffs like this
reading this post, we may save us from illigality.so cary on.thanks
thank you for the words.
welcome
You only tried to help people make more money while earning some yourself - fortunately no one was harmed in your close circle as you noticed it early enough and had the decency to close the channel and to stop spreading the info about them - we all know how generous you are and that you mean only good to your readers and to the watchers of your crypto videos.
as to myself - I am a suspicious person - I think I wouldn't invest in such a thing without understanding the basis to the money they promise you will make no matter what, though I admit I never faced such a situation. I guess that when you understand that it's a Ponzi but you are an early adopter - you can make a nice profit - but even in that case, it's not moral and I wouldn't do it :)
Proud of you that you dumped it right away when you noticed it's a scam!
😀👍
It's constantly difficult to tell, yet as long as I understand it's a ponzi and feels like they won't remain around for long, you can make a transient speculation and pursue. A decent number of prompt risers like you, made a few benefits from bitconnect, and such tricks are as yet coming, it's dependent upon us to consider a few notices important.
you are certainly the last to get rid of it. It's a miracle. it is true that people will lose more than you. Fortunately God protected it. There has not been much damage. I was going to enter Bitconnect Yatirimina. When researching about Bitconnect. As you said, I met a video on YouTube. Bitconnect said it would not be worth investing. He even hinted at the sinking. After this, I did more research. I finally decided not to invest. When I saw this day, I knew that God was the sign of that vision. I have to find and thank the video owner, but I can not find it. @amiramnoam
thanks for this amazing comment!