@crypto-investor I was thinking of exactly the same thing all this past week. I see so much advertising for it on you tube, that is just a dead give away. Combine the words loan and join us on the same phrase and you get a pyramid scheme. I wiall have to aggree with @bitatlas there is no bot that makes constant 1% profits
https://steemit.com/bitcoin/@panossant/bitconnect-is-only-profitable-for-its-affiliates-smells-like-a-ponzi-scheme
It's paying out daily @panossant - the bad thing about this ponzi is that it operates as advertised. There's no gimmick other than 1% daily isn't possible, every day, forever and ever. That 1% daily actual payout withdrawn is what has suckered in the millions of dollars. Probably many crypto millionaires think this is a legit thing and dump another 100k a month into it. They've grown fast enough, that kind of payout is sustainable and likely their capital base has grown. It's a very hard curve to keep up with so I don't know how long it can last. Every 3 months, they basically are repaying the initial investment back, in real actual payouts people receive. We're coming up on the first 3 months of operation here, where May investors will receive 100% of their money back. Thing is, I guarantee they've taken in at least 5 to 10 times that amount already just based on how much hype is going on and how much people are making in referrals. Someone is sitting on 100k in referrals at his level, means something like 2 mil was invested. If come this fall people decide this is the best investment ever and want to dump another 30 mil into it or something, it'll just keep going and keep paying.
All affiliate programs have the same problem. The largest affiliates get all the money, that makes everyone else frustrated. The average joe that cannot build an affiliate tree under his account will have to be satisfied with just the interest he is getting, which is not going to be the same money, people like cryptonick and others are making selling this stuff. So come the time they will start withdrawing their money (if they can), and this is when the problems might begin. Another cause of a blow out would be for a large investor to invest a large sum and request large sums of money to be payed back, that would also break the bough. There is also the possibility of at sometime, someone with power will start asking questions.
We've seen similar situation unfold ugly in the non crypto world.