You know when you feel deep down in your gut that something just isn't right? I felt that feeling the very first time I heard about Bitconnect! And I'm not talking about their particular platform or currency, but I mean the business model. I've been sucked in, as I'm sure you have once or twice before, by these Mult-Level-Marketing (MLM) schemes that promise you the World and deliver absolutely nothing execpt a depleted bank account, a garage full of garbage products and friends and family that tell you to "lose their number!".
MLM's, NOT to be confused with Affiliate Marketing, are set up in such a way that only the founders and the very few at the top will only make the majority of the money. Usually, once you hear about these schemes, it's already way to late!
Bitconnect seems to have been built on this type of business model. They've recently got shut down by the Fed's in Texas most probably because of the number of complaints received by lower-level members.
I'd love to hear your thought on Bitconnect and also if you have had any experience with this organization. GO!
80% of people that I listen say is a scam, MLM is not a scam but it may be a ponzu scheme, The main thing about MLM is that there has to be a product. They pay a daily % so they have to make money somehow, if they pay by trading then they should also say that if they make a loss then people can lose so I'm not sure