Newest video on youtube. While my alts were bleeding out against $btc, my $bcc was still in the green.
DAY: 148 | $643.00 Earned On BitConnect
7 years ago in #bitcoin by brandneweyes (56)
$1.84
- Past Payouts $1.84
- - Author $1.39
- - Curators $0.45
36 votes
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Payouts don't make it less of a ponzi.
Not disagreeing with you, but I think the growth that is has sustained thus far makes it less of a risk than other investments.
Just sounded like your argument for it not being a "Scam" was that people have gotten payouts.
You are giving away BTC that goes up in value and recalculates it to usd.
BTC-BCC-USD then you get BCC back based on your USD not your original BCC deposit.
So your are hedging into USD not BCC. Site has 95% of volume so they are the market maker here. 10 biggest wallets hold around 60% of the coins.
The only real function i can see with the coin is to hide this recalculation and controlled deflation.
That's my take on it a least.
Good read if someone is interested in this kinds of things Look up
Bernie Madoff $65 billion ponzi it went down because of the 2008 market crash. His ponzi lasted for almost 20years.
FTC and FTC. Exactly what I mean about 'hater' with Mis-information.Technically @debugger after reading both of the FTC's definitions, Bitconnect is Actually Neither a Ponzi nor a Pyramid.....links
Those links are defining MLM and Pyramid. Not Ponzi. Dont really understand what you meant by hater & misinformation. I haven't written any hateful words nor misleading facts.
FTc which also defines ponzi. I still don't believe bitconnect t falls into either category since you aren't forced to recruit, can either buy their tokens and hold, trade their tokens, stake their tokens and/or lend their tokens.
Another aspect that many detractors of BCC fail to consider is that the Business also makes money from Internal trades on their exchange.
And now the BCC token is trading on Hitbtc with hints that other exchanges to follow, which should help diversify BCC's market.
Finally, a pointless argument but at one point, Satoshi held over 60% of the Bitcoins in his wallet, and look what happened.@debugger Here is another link from the
That is still a link to a Pyramid scheme.
Ponzi schemes and Pyramid Shames are not the same.
"Ponzi schemes are based on fraudulent investment management services basically investors contribute money to the "portfolio manager" who promises them a high return, and then when those investors want their money back they are paid out with the incoming funds contributed by later investors. The person organizing this type of fraud is in charge of controlling the entire operation; they merely transfer funds from one client to another and forgo any real investment activities."
Can't really see any point for the coin existence. Can we agree that the core function of the coin is its lending feature?
You are Lending out USD value not BCC so it has no actual function in the usecase it was created on.
You could just use BTC as you need it anyways to get BCC on the site.
"also makes money from Internal trades on their exchange."
That i see as problem they have full ctrl of the supply and pricing.
Direct quote from last link I sent..."Some people confuse pyramid and Ponzi schemes with legitimate multilevel marketing. Multilevel marketing programs are known as MLM's,(4) and unlike pyramid or Ponzi schemes, MLM's have a real product to sell. More importantly, MLM's actually sell their product to members of the general public, without requiring these consumers to pay anything extra or to join the MLM system. MLM's may pay commissions to a long string of distributors, but these commission are paid for real retail sales, not for new recruits." It goes on to further define ponzi and pyramid. I believe the sale of the token/coin is their product being sold to the public, alleviating the ponzi/pyramid attribute.
At his point the same could be said of Bitcoin. No one really wants to spend it but rather hold or "hodl." So what's the point of Bitcoin then if no one want to spend it?
Bitconnect Coin might just be the coin for the masses while Bitcoin for the elite.
Some informative videos in case your interested...
and
2nd vid. explains how Bitcoin and Bitconnect work hand in hand.
I know all abut MLMs and such.
Lets get this strait the product is the tradebot that's why the coin survives without it its just another alt with no innovative or special usecase.
And the bot has not yet proven to exist.
The coin has no function in the actual lending as everything is calculated in fiat.
BTCs main function is a store o value that why people hold it.
So if BCC is for the masses why can you only buy it with BTC "elite coin"
have you tried out Dtube to share your videos? i just recently discovered it, but haven't used it yet.
No I havent, I tried alexandria but its not very user friendly.
Ok thanks. :)
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STOPIt is a Ponzi scheme, indeed. See a detailed due diligence: http://blog.icoindex.com/why-icoindex-has-labeled-bitconnect-as-an-outright-fraud/
I am happy for you
I appreciate it :)
Where is that video? Self-censorship?