Some new info in this video (not seen it all yet but looks promising): https://www.youtube.com/watch?v=zaPUs4oSr-Q
The beginning shows how bitconnect received 1000 bitcoins in their ICO (that's another $6million that they don't need haha) and only sold 1million in the ICO and kept well over 3million BCC tokens (the staking interest was 10% a month at that time, I think). It goes on to show some more stuff about it so might be interesting for some of you.
The beginning shows how bitconnect received 1000 bitcoins in their ICO (that's another $6million that they don't need haha) and only sold 1million in the ICO and kept well over 3million BCC tokens (the staking interest was 10% a month at that time, I think). It goes on to show some more stuff about it so might be interesting for some of you.
Firstly, the YouTuber continued to mistake parody for parity throughout the vid, at one point mistaking it for paradox.
Secondly, exactly how does one purchase BCC via US dollars? ...
i don't understand it's a ponzi ?It's not a poNzi because they have other sources of income besides referrals.
A pyramid scheme. Yes maybe. LOL. Like Amway Market America Herbalife Avon Nu-Skin
That explains why aliens don't waste their time on this planet.
The video turned out to be a bit peculiar but basically all the interest is paid as USD in the lending wallet and not BCC tokens. To withdraw it has to be first converted to BCC tokens at the current rate they have set (taken from their exchange). Obviously their rate has to be similar to other exchanges at all times due to arbitrage opportunities.
I never bother using their exchange to convert BCC into BTC (you can withdraw either so doesn't really matter) and just withdraw the BCC to my desktop wallet.
In theory, if BCC crashes, the amount of USD showing in the wallet will not change. It will just convert into more BCC tokens than before the crash. So, if people are scared of BCC crashing, they should just leave all the interest in the USD wallet (known as the lending wallet) or always convert it to BTC after converting it to BCC. The latter option doesn't help you if BTC crashes. If either crash (they seem linked nowadays), then the amount of BCC tokens needed to be paid by bitconnect to convert the USD amounts to BCC will be higher. They have plenty of these tokens at the moment and are accumulating more and more (it is nowhere near the maximum supply either).