Quote from: Xair on December 28, 2017, 11:59:39 PM

Honestly some of the theories and comments I've seen about bitconnect make me feel as if I'm on one of those ridiculous youtube channels about the earth being flat or some shite Cry

Trading via a Forex broker in crypto markets can be very profitable, especially if brave enough to trade with high leverage :O, but you can lose a ton just as easily. Quite a few guys run 24/7 channels of this even to help traders out and such.
Bitconnect basically offers people the option to put in X amount of dollars for a fixed period (Not loan xxx of whatever coin), saying their bot will trade in these forex markets at that value, and give you a portion of the profits made on a daily basis (avg over time is about 25% of the days profit from what I understand), but also that you will not lose anything on days that they make a loss or stay neutral.
Its a simple concept in theory, and makes sense to me how it will benefit both parties if done right, but all I seem to see is that this must be a Ponzi model, and they're riding on bitcoin to pay out... sigh

Then I've seen all this talk about BCC price, and how it is somehow related to how they are actually able to pay people out and such... Its a currency that is interest bearing and allows transactions to take place from BCC to fixed $ amounts for loans and fixed $ amounts to BCC again for payouts, the price is determined by the exchange of BCC/BTC when money goes in/out of the platform jeez. Binance uses Binance coin in a similar manner on their platform, but to allow easy buying of diff coins and also big reductions in fees to their users etc

I was skeptic as hell when I first heard of them, then I looked into everything I could find regarding the concept and all parts of the operations.
What they're aiming towards developing is really something that would be great to have in terms of services to use in the crypto economy, just wish people would actually look into it instead of randomly bashing on it, while having only small parts of the info about it

Anyways, just felt like ranting about that somewhere haha

They been making theories on when bitconnect is going to exit scam for months now. I think eventually they will get it right if they keep on repeating "ponzi" who knows 1 year? 2 year? 10 year?

https://en.wikipedia.org/wiki/Madoff_investment_scandal 48 years