Bitconnect trading bot

People claim that Bitconnect is not innovative and that people are investing on it only for the returns. I say, BitConnect is only open and blunt about. They embrace what every other crypto is not willing to admit.

Most people get into cryptos because of their return. And in some ways, this is good for cryptos. They are worth what they are today, because innovation is finally being able to be financed by people like you and me. For those asking, where this new added value is coming from. I have news for you. While you were lending your fiat to the bot in bcc format to make you money while you sleep.

The bot has been working 24 hours a day, 7 days a week, days a year. It does not need to eat, drink or sleep. It's only function is to generate value on a coin in which it pretty much controls. It knows the rules of the game and it follows simple rules to maximize profit. It feels nothing so it does not over reacts when a dump happens. Or it does not dump looking for short term gains.

In reality, all the value that is being generated, in some ways reflects what happen when full automation and delegation of decision making process is given to a machine.

These are the reasons I believe BitConnect is actually very innovative and could actually not be a scam. Let's not forget that they have just re-invented ICO's. They are creating major interest in their platform with a completely new approach. They are the only stable coin at the moment and they have reached the top 10 in less than 6 months of existence.

If that is not innovation I don't know what is. As of now they should be left with the benefit of the doubt. Like with any other cryptocurrencies.

But to accuse someone of wrong doing just because you don't understand how they are doing what they are doing, is just wrong. I invested because they all promised me something. The only proof I have is that the developers of Bitconnect are working for that something.

I have no idea who they are that is true, but the reality is that does not matter. They have something to show for themselves. If they continue the way they are. Implementing their promises in a timely manner. I can see this coin becoming quite useful and people actually using it to buy things. Specially because of its stability. Which is only possible because of it's adoption.

Which in turn is only possible because of its infamous bot. Another thing worth mentioning, is that by generating wealth to the community and early adopters, they are guaranteeing the success of their coin by the time they develop their ecosystem. After all, who doesn't want to target their product to a bunch of newly rich people that have been used to this coin for so long.

It's a win win for BitConnect again. All these claims are of course only speculation, I was not involved in the development of BitConnect and I have no idea who is. This could be all some delusion from my head. I sure hope the bot won't dump all its coins at once when its time to cash out.

But if it does, I don't see that being much different than other whales doing the same thing with other currencies. I do have hope that the developers thought this thing through. It's a shame that the bot is not opensource and that we cannot see what is programmed to do with its bcc at the end of its journey. This obviously worries me quite a bit.

I'm a big advocate for transparency and this bot, is true, seems to always be hiding around meaningless statements and catchphrases. But I also see the potential of a system with these characteristics and if this is a ponzi scheme, wow And finally, don't invest on anything that you cannot lose.

Or maybe this should be said in some other way. Don't invest any time or any money in what you don't believe in. Anything you do has the potential of being in vain, does that mean you will stop doing anything because there are risks involved? In reality, all money really is, is the time you put in doing some odd job to generate that money. It is all it really represents. This time, you will never get back.

The question then becomes. Calculate the risks, if you think the risk is worth it and you are not putting others in harm, directly or indirectly. Then just go for it. I must admit that the good return on investment of BitConnect is what made me interested in their platform in the first place. And that is for me, something that easily gets lost, amidst this frenzy of profit seeking between cryptocurrencies.

The reason this all started, which should not be forgotten. Is to create a decentralized system and empower people financially. And if we can do this with each other's help along the way, even better. I sure hope that my theory is correct, not because I will not lose all my money. But because I really think that BitConnect has the potential to be the killer app of cryptocurrencies.

So there is still an extremely high risk to invest in this platform. You have been warned. Good Read, sharing similar Opinions. BCC is basically a Money or Value creation tool with indefinite scaling function due to an unregulated market atmosphere.

I admire the genius functionality of the Platform. One would argue that it cannot be open, because if people knew that the coin would always go up in value, they would not lend the coin. But if they don't lend the coin the coin would not go up in value. So in some ways, you need to make sure people lend the coin. It's a catch The question now is. Is it possible to create a totally decentralized autonomous and open source system that can accomplish the same?

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By upvoting this notification, you can help all Steemit users. You made your First Comment. Thanks for bringing this to my attention. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. I really advice people to take a look at: Their philosophy "Is to create a decentralized system and empower people financially. But money doesn't come out of thin air.

To keep paying the first users new users would be a necessity otherwise the value of BCC would fall due to more supply than demand. Putting more pressure on the 'bot' to return those payments in dollar terms. That said whether it is a pyramid scheme or not, so is Amway and Herbalife and those companies seem to be doing just fine so far Hi thanks for the comment.

In reality, it is not true that you need to put pressure on the bot. The truth is, if there is no liquidity in bcc than people will just not be able to get out of the platform.

That is the genius of this platform. They simply use the same incentives that are used to mine bitcoin but for people to use their coin. Just give people money to do it. Please upvote if you want more people to get discounts. BitConnect - A theory on the trading bot. According to thegrinder's article. We will come back to these later. The most common arguments for why people claim BitConnect is a scam are: English mistakes on their Website. How the "scam" trading bot works According to thegrinder's article, this is how BitConnect works.

I'll explain that second part in a bit. So important I will repeat it again slowly: A lack of whitepaper only indicates A lack of whitepaper. At least they have their Roadmap. And that seems to be happening according to schedule. Thegrinder actually explained quite well, how the system works when he said "Now they have your Bitcoin and you also just gave them back their own currency and increased its price when you bought it. Let's get down to numbers. According to their marketing material, these are the properties of their coin: There are now 6,, bcc's in circulation.

That way the money is just parked there while the bot makes more money with your initial bcc Trade to bcc You are forced to do this option if you want any other options. The bot, dictating his price, after all he is the one with the most coins, and pretty much the only one buying bcc at the moment Now you have a few options.

BitConnect wins here, cause now it is forcing people to use their system, and their wallet b If you decide to reinvest the money. BitConnect wins again c You decide to cash out and get your BitCoins back. Now let's go back to what BitConnect promises it will do: No one will start using anything without a promise of something.

We choose to invest in ideas, without a middle man. Crypto has allowed us to do this. Now imagine the possibilities. I have invested in BitConnect, and I am willing to lose the money that I have invested in it.

This is what they have achieved so far in my opinion: Innovative way to get people to use their product. A bot that so far is generating loads of value for them and some for us. A decent and fast pc wallet. Android and Iphone wallets. With not so good English An incredible marketing campaign. After all, you are here reading this.

What they still promise to deliver: Is what you are investing in, worth that time? But another thing that made me very interested was their philosophy. And this is exactly what BitConnect seems to be doing so far. Excellent post, I really enjoyed hearing your views on this topic. I think even mathematically it doesn't make too much sense.

The average rate of return daily is around 0. If you actually computed the compounding based on a monthly basis, your return would be around 2, Really good review brother.

Can I prove it? These programs always work fine until the day they don't. When will that be? I have no idea, but your projection seems reasonable. I imagine quite a few people will continue to pour money into this thing.

Some people never learn there's no such thing as easy money. There are definitely some ponzi type schemes in the world of crypto. I have an aquaintance that got sucked into a mining ponzi scheme. All of the ponzi scheme markers were present, like paying large amounts just to be a part and then they try to get you to recruit other investors.

To ponzi or not to ponzi? Its money I can afford to lose. It is a gamble, no different from when you go to a Casino and lose on the black jack table in like 30 seconds. So I will keep reinvesting and compounding the interest as long as I can and if I get to a certain number I pull my initial investment out in daily profits. If Bitconnect dies a quick death and I lose it all or dies a slow death and i make some money first, sure i'll be disappointed but will have a clear conscience and will move on unaffected.

Everything including crypto currency benefits those who get in early and those who come late to the party usually get screwed. That is the chance you take when you invest in anything. By all means don't use Bitconnect as your main investment it should be a miniscule part of a way bigger picture. James, I think that is the core issue of their success. There is a lot of loose money in crypto and a lot of people are fine gambling that excess which is millions on something like bitconnect.

I would just say it is getting too big. Do we really want to see the pet-ponzi of the crypto world start trading into the top What if it gets picked up by people outside of crypto world and crypto newbies start dumping their life savings into it? As we continue to feed this beast it grows, and I really think at this point we do not want to see it grow any bigger.

If it shows sustainable growth, what's the problem? If everyone involved is profiting, and it seems like it is sustainable, sounds like a functioning economy to me. I'm not saying it's NOT a ponzi scheme, per se.

I'm just saying maybe we need to re-evaluate if ponzi schemes are actually bad in the context of a digital global economy. If you do the math, Bitconnect's participants will be some of the richest people on Earth in 5 years. As one comment put it, if you invest 10k and compound monthly, in several years you will own more than the US Stock market. I did my own math. This thing is going to blow and take a lot of people's money.

If someone actually had the giant iron balls to compound invest 10K in Bitconnect for 7 years, remember Bitconnect is taking a nice healthy profit from from each reinvestment along the way. Each 10K investment is locked up for days. So don't think the investor can say "hmm I think I will withdraw my 45 trillion now" and pull it out and take it all down. It would be calculated increments of withdrawals during which time Bitconnect is making profits and keeping the ball rolling.

Again I'm not saying your are wrong just not completely informed on the matter and I'm playing devil's advocate here because everyone is blindly shitting on Bitconnect without knowing the facts.

I can't see behind the curtain either but it is working now so I say lets keep it working for as long as possible and all make money. I'm on Day 3 of my Bitconnect experiment: These are part of LTBH funds we could afford to lose completely, as is all of our crypto. It would suck to lose all this crypto, but it wouldn't be the end oft he world. That was a great idea, take advantage of the referral system with friends and family.

I'm going to wait until i'm at dollars a day in interest to start pulling money out just my initial investment. If I don't it would be disappointing, but as everyone should I have many other investments in crypto, and savings so not going to swan dive off a bridge or anything. Cheers good luck I hope it works out! James I totally agree with your point of view, people are constantly talking shit on bitconnect with no proof.

If someone is dumb enough to put their life saving into ANY 1 gamble they deserve everything they get. It's not our job to nerf the world from idiots. We can only try and guide them in the right direction. Just like dummies that took our their K's and bought Eth at dollars last June and then sold at like when the market shit the bed for a month.

What do you want to do shut Ethereum down now because of a bunch of morons who dont know how to invest? Everyone is responsible for their own actions in this world. You live and die by your own sword or stupidity. I'd be sitting by the pool in Fiji reinvesting and compounding daily on autopilot!

Hopefully that statement is indicative enough of the nature of this situation. I'm really just trying to play devil's advocate though. If we're going to focus on scam vs. It's best not to give ponzi's the benefit of the doubt. The reason being is these things target gullible people unlike yourself, and then they'll go dumping 40k to k into the thing right before it implodes. Then we'll have to see a parade of news articles and interviews about how taken advantage of they were.

Then the regulators might pick up the trail, and start focusing on legitimate operations like Steemit that are "suckering people in" Only the honest people are left to catch so that's where government would look first. It's better to not like these ponzis get this big. See my other article which alleviates all doubt about it being a ponzi. In the end, this thing will draw more negative media attention and will draw more regulators, once it implodes.

Regulators have to protect us against ourselves, and apparently the government was right in this assertion because the size of bitconnect is proving the world can't take care of itself, we need a big brother to dictate our lives to us because the average person is highly irresponsible.

Your review is great, it simply changes their mind when it comes to investing money in bitconnect and serves also a precautionary just in case they have invested already.. I never invested in Bitconnect because there is something that it's not correct I'm not saying Bitconnect is legit or not because I don't know for sure either way.

What I can say is Warren Buffet doesn't trade crypto and the stock market hasn't a fraction of the volatility as the crypto markets do on a daily basis. Also Bitconnect doesn't get 1 percent a day it varies, some days its way lower or higher depending on the volatility of the market that day. Second, who cares if there is no trading bot and it is a Pyramid Scheme. You don't think the US dollar is a pyramid scheme with the Fed printing money for their rich friends on a daily basis and the little people fighting over table scraps left over as the dollar quickly drops in value.

I saw screw it! Ride that Bitconnect boat as far as it will sail, just recoup your initial investment and then its all gravy before the ship goes into the rocks. Everyone has an opinion Withdrawal your seed capital first , then reinvest every day till it's a nice chuck of cash. Then start taking more money out Financial markets have the objective of investing investors money into something that is believed to be worth. You invest in Apple stocks to help finance that company and because the company produce something.

You invest at Bitcoin because the is a demand and a limited supply, just like gold. OK so you mean to tell me the stock market is not a pyramid scheme? Thats hilarious, so when an IPO of a tech company going public lets say facebook, twitter or google for an example but the list goes on and on goes to all the big banks and special mega rich and their celebrity friends for pennies per stock and by the time it gets to Joe Blow Bluecollar for 87 dollars a stock, that is not a pyramid scheme?

To your last point I say this, whether Bitconnect is a scam or not a scam, is a pyramid scheme or actually happen to stumble upon the greatest trading algorithm known to man yea right. So I say why not take advantage of that, be smart about only putting in money you are willing to lose, and roll the dice and make as much money as you can for as long as Bitconnect is in operation.

That is how I see it, i'm taking advantage of whatever it is, and it is making me money and i dont even use referrals. So ride the gravy train as long as you can. If you keep reinvesting and take advantage of compounding the interest you could get out with a nice chunk of change. Or the site could go down indefinitely next week. Who knows, but it does work now so roll the dice and try and get your piece.

Hey jamesfredericks , I'm not judging anyone. I already invested in a ponzi, knowing that it was a ponzi. I agree, who cares?! However, you have to assume that their operation is The intrinsic value of anything comes from the "perceptions" that it has tangible or intangible values.

Because we used to putting our money into a saving accounts and get 0. What banks do to your savings is to also invest in different securities but what they give you is nothing. Bitconnect and banks both invest or speculate in securities stocks vs BTC respectively but the difference between the two is that Banks don't give you anything on your saving money. I agree with everything said in this post.

And I have invested in Bitconnect. Ride it while its hot, get the investment back and then its house money. And if not all is not lost anyone, or shouldnt be. If you are putting money in and encouraging others to do it then you are participating in the scam. There is a good duck test "If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck" In Bitconnect case - if it looks like a scam, sounds like a scam and acts like a scam, then it probably is a scam!

Thank you crypto-investor , when i heard about bitconnect i had my suspicions too, I thought something was wrong. I made a blog post exposing the "photoshop fail" which they claim is their new office in Indonesia.

At some point there is only so much money and crypto to be given thus resulting in the worlds largest scam ever? What is crypto currency doing in the world? Its defying all laws we know about finance. Dang man things like this I just always question. Like why can't more things just be straight forward in life? I wish and hope it won't implode, I have friends invested in bitconnect. But I always say any investment online is a risky one, so always invest what you can afford to lose.

Another strategy is to take out your seed money as quickly as possible and just reinvest the profits. Thank you for sharing your thoughts. Of course it's not possible everyday, but it's not hard for traders with good experience. You see some decent sized youtube channels pushing BitConnect, and some not all are open about how they make their money: You'd think that would be the dead giveaway, right?

They succeed by shoving that "content" down viewers throats and profiting off individual suckers. They aren't making money without networking, and those viewers will not be networking at the same level, nor would they ever become one of the top users, because there's always someone above them on the pyramid. It's so depressing to see people in the comment sections of those videos praise the channel and lose money.

Oh, this is very interesting. I just watched the video. I'm not actually on BitConnect, and now maybe I won't be. Thank you for this insight. I am in agreement with Crypto-Investor I am not sure if they are a scam or not.

I like to see both sides thou. People can do with their money what they want. I trade Stock Options, very risky , but I enjoy it, and I have lost a lot of money in some quarters. I would like to see if they are around in a year from now I see so much advertising for it on you tube, that is just a dead give away. Combine the words loan and join us on the same phrase and you get a pyramid scheme. It's paying out daily panossant - the bad thing about this ponzi is that it operates as advertised.

Probably many crypto millionaires think this is a legit thing and dump another k a month into it. They've grown fast enough, that kind of payout is sustainable and likely their capital base has grown. It's a very hard curve to keep up with so I don't know how long it can last. Every 3 months, they basically are repaying the initial investment back, in real actual payouts people receive. Thing is, I guarantee they've taken in at least 5 to 10 times that amount already just based on how much hype is going on and how much people are making in referrals.

Someone is sitting on k in referrals at his level, means something like 2 mil was invested. If come this fall people decide this is the best investment ever and want to dump another 30 mil into it or something, it'll just keep going and keep paying.

All affiliate programs have the same problem. The largest affiliates get all the money, that makes everyone else frustrated. The average joe that cannot build an affiliate tree under his account will have to be satisfied with just the interest he is getting, which is not going to be the same money, people like cryptonick and others are making selling this stuff.

So come the time they will start withdrawing their money if they can , and this is when the problems might begin.