Hi, I have questions regarding the BCC bot.
(1) How was the bot able to make 1% guaranteed returns? I didn't know anything was guaranteed to make a profit, especially with Bitcoin. Does anyone know the algorithm?
(2) Why were transactions by the bot never released? I understand keeping the code secret, but why not transaction histories? They can't reveal that much.
(3) Why did the bot randomly shut down? I thought that it could just do its thing, and keep trading. So why did it suddenly disappear?
Thanks for the answers.
The trading bot for arbitrage at least doesn't normally scale well but there are plenty of people claiming that exchanges use their own bots all the time to make extra cash and even third party bots claim consistent profits. With inside information from an internal exchange it must be possible to make a couple of percent profit from transactions at least.
Anyway, you must know by now that bitconnect never promised 1% return. It always varied and was often 0% or near there some days. As I pointed out before, the trading bot wasn't even needed but to many people this would make bitconnect no more than a bubble under the 'greater fool' theory. People have proposed this theory to explain everything from the bitcoin bubble to the housing market.