Post
Topic
Board Announcements (Altcoins)
Re: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency
by
jon_crypto
on 14/08/2017, 18:52:49 UTC
2072 analysis of the BitConnect lending system seems accurate from what I read and researched. I just transferred some BTC to see from my own eyes if this system works. I believe I can make up these BTC within a week... As long as $NEO goes up Wink

In my opinion, here's a few observations
  • The daily interest rates are unsustainable over time. I suspect that these will go down to more reasonable level as time advance
  • Before investing, you also have to keep in mind that there's a lot of valuation play to consider. BCC vs BTC and BTC vs USD. In a very volatile market anything can happen. So invest at your own risk
  • IMO, the most annoying factor I didn't see an option in their app to reinvest your daily interest, you'll need access to a computer same time daily. there are comments that payout hasn't happen on a daily process - TBD **care to comment anyone?** )
  • Before investing, you also have to keep in mind that there's a lot of valuation play to consider. BCC vs BTC and BTC vs USD. In a very volatile market anything can happen. So invest at your own risk
  • Like BTC, there is a max supply. That makes it interesting
  • I doubt BCC will have the popularity of BTC with retailers.
  • I doubt the exchange will become a large player.


Questions for members:

  • There are comments that interest payout hasn't happen daily, true?
  • Is it profitable for miners to mine BCC?
  • The million dollar question, what if it forks?  Grin


Conclusion


This could potentially be a good investment but there are many risk factors and unanswered questions that i'd caution anyone that would like to invest to be ready to lose the money they are investing. Yet again, if you are in the crypto market and Altcoins more specifically, it's because you're ready!