My take on Bitconnect
Source: Bitconnect.co
When looking at Bitconnect.co, it has all the signs of a Ponzi scheme. From past experiences, I wouldn't have invested in this at all....BUT, since I can lose $100(not that I want to), I might as well try it out. I did some research into it, and by all of the reviews, people are liking the lending function of it. The people behind the site/coin are brilliant though. They pump the coin's price by only allowing people to invest/lend(with interest) by first purchasing their coin, and then "lending" it out for a profit. This "interest" is then given to you, daily, where you can then withdraw it at anytime(just as long as it is 0.0005 or more BTC).
The people behind the site, just as long as they don't get too greedy(they almost always do). It can actually last for a long time. So I put in a $100(minimum lending amount) and will wait the 299 days to get my initial investment back. I am not claiming this is a Ponzi, but if it is, I am hoping I am not one of the people holding the bag. Again, $100 bucks I CAN lose, but don't WANT to lose.
If anything, I would suggest you to try it(not a financial adviser here). If you can spare $100 and see if it works, maybe you will get a nice return. Remember high risk, high reward.
If you feel really generous, please use my below reference link, so I can get my "interest" out faster.(I can talk about Pyramid schemes later if you want).
Thanks for the Rant,
While it may not be a scam in your opinion, it could be considered spam. Spam is not appreciated by the community and could be flagged or may result in action from the cheetah bot..
Spam is actually advertising the site, and then saying that you will get money out of it. I gave my opinion on a website that quite a few people are using. Some people may be interested in my opinion. Do I have to talk about Steem all the time, or do I have to say that another website IS a Ponzi scheme? I would call my post spam if I say go to the site without research, and use my code. I actually stated something that @craig-grant stated on one of his videos. But since I wrote something about it vs. putting it on a video, it could be considered spam?
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