Quote from: Gleb Gamow on September 27, 2017, 01:53:40 PM

Quote from: MJMJ on September 27, 2017, 01:47:01 PM

Quote from: barfine on September 27, 2017, 08:29:30 AM

Quote from: Gleb Gamow on September 26, 2017, 11:05:47 PM

Quote from: bambarmia on September 26, 2017, 09:44:30 PM

They attract users by promising amazing returns on their investment. They artificially increase the price of their crypto by tricking users into buying it with Bitcoin and giving it back to them, along with the Bitcoin. They pay back the interest to their users from new investments. When their profit is maximized, they sell all of their artificially inflated currency and Bitcoins and disappear.

Allow me to fix your assessment. 90%+ of all bitcoins that entered BitConnect's coffer were never spent, currently sitting in cold storage.

Which is a good thing, they keeping the funds to repay initial investments when the loan periods are over.

Given that their main claimed way of generating revenue is by trading this bitcoin, it actually would not be a great sign if 90% of their total bitcoin was just sitting there in the same account with no movement. I don't know if that's the case or not but it would not be a good thing.

Edit: they also repay the loan capital in BCC not BTC

It is the case, documented by an esteem crypto enthusiast.

haha yes I do remember reading your post about that account with about 8000 BTC in it. Is there any way to know what percentage that is of their total holdings? Presumably they could easily have several accounts unless I missed something (which could be the case as I haven't read the entire thread).