Id avoid bitconnect, sure you can make some money on it, but much like a ponzi scheme you will want to get out before the house of cards crashes. Essentially 90% of bitconnect exchanging happens on the bitconnect website - as in no one buys it anywhere else for anything else.
It's value is artificially pumped due to a majority reinvesting rather than withdrawing (similar to how a ponzi scheme works). This pushes the price higher and attracts more investors that also tend to reinvest. The end result is a fast and hard crash when a large enough stake is withdrawn, but so long as more reinvest than withdraw, coupled with new investors, it will appear stable and attractive.
I'm invested in a few ponzi schemes, you can make money off them so long as your timing is right. Saying that, i've had three ponzi's cut and run this week before i got into the profit. It is risky, and there isn't much power you have in retrieving lost funds.
Id avoid bitconnect, sure you can make some money on it, but much like a ponzi scheme you will want to get out before the house of cards crashes. Essentially 90% of bitconnect exchanging happens on the bitconnect website - as in no one buys it anywhere else for anything else.
It's value is artificially pumped due to a majority reinvesting rather than withdrawing (similar to how a ponzi scheme works). This pushes the price higher and attracts more investors that also tend to reinvest. The end result is a fast and hard crash when a large enough stake is withdrawn, but so long as more reinvest than withdraw, coupled with new investors, it will appear stable and attractive.
I'm invested in a few ponzi schemes, you can make money off them so long as your timing is right. Saying that, i've had three ponzi's cut and run this week before i got into the profit. It is risky, and there isn't much power you have in retrieving lost funds.
those were my feelings to be honest but I wanted to get more opinions on the matter