LASER ONLINE IS A SCAM, SAME AS BITCONNECT
BitConnect Coin (BCC)
At this point, all I had seen was a lot of weirdness. Weirdness, however, was not enough to declare this a scam. I needed to dig further. The next point I needed to research was the native currency of the platform, the BitConnect Coin or BCC*. This is how BCC is supposed to be used:
First, you deposit bitcoin into a specific address that BitConnect provides. From there, you “buy” BCC from their own exchange.
Next, you lend your BCC to borrowers and earn a subsequent daily profit. This is where the tier system comes in. The total amount that you lend out determines your tier, and your payout and capital lock down period. Obviously, more money in equals more money out, and faster.
*Note the “BCC” label is also used to refer to Bitcoin Cash. Many prefer to use “BCH” in part to avoid confusion.
Conclusion
In my opinion, BitConnect is a classic HYIP scam. Here is why:
It promises massive, impossibly large, guaranteed returns
The site makes use of affiliate links to spread quickly with potential false testimonials and reviews
It uses colorful, exaggerated language like “financial independence” and “financial freedom”
The program is designed to encourage you to continuously reinvest and not withdraw your money
The site hasn’t been up for very long, and it will likely disappear sooner rather than later.While the claims being made by BitConnect are in some ways less egregious than the likes of bitpetite.com or laser.online (both sites promising to double your money in less than a month, every month), they are most certainly unsustainable and unrealistic.
To avoid getting caught by one of these schemes, always remember to keep your expectations grounded in reality. No investment platform, company, or website could ever possibly afford to give out a near 500 percent return per year just for lending out Bitcoin or other forms of money.
My advice: Always remember to do your own research beforehand, and if something seems too good to be true, it probably is.