How does the lending work? How can you expect anyone to put money into this without saying how you're able to give out these insane interest rates, money back after 6 months? rly? Who in the world would borrow money at that rate?
Bitconnect sounds like a typical ponzi. Please prove me wrong I am open ears.
You are lending money to a trading bot that pools the funds and uses Volatility Software to trade on bitcoin swings. Whether bitcoin moves up or down, the Software makes money. It takes the earning and redistributes it to the lenders.
I myself thought it sounded like a ponzi, but with blockchain being entirely open to view if you would like to, I soon realized it's just taking a bunch of pooled funds and trading it against bitcoins volatility. The interest you receive on the day depends entirely on how well the software performed.
I myself am very pleased so far with the platform. Before blockchain technology and trading bots this kind of stuff was unimaginable.
How can you know that the funds are being traded? Surely they would send it to an exchange so all that you could see on the blockchain would be your money ending up in some big wallet address.
Also are we just supposed to believe that they somehow have developed the best trading AI on the market that beats all the others?