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RE: The BitConnect scam exposed

in #scam7 years ago

https://www.yahoo.com/news/algorithms-secretly-run-world-061905775.html

al·go·rithm
ˈalɡəˌriT͟Həm/Submit
noun
plural noun: algorithms
a process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.
"a basic algorithm for division"

In fact, there are a ton of algorithms out there. But I never said humans do a great job. Humans are human, prone to mistakes. Many humans strive to make a difference, etc. Other humans may not care as much. Because algorithms are created by human, this makes them somewhat limited. On the other hand, algorithms do not need to sleep, eat, etc. Technology's benefit to mankind depends on how humans choose to use it.

I'm a little cautious myself but giving it a shot. Right now especially, the price of bitconnect has been SKYROCKETING which is really scary lol. However, it makes sense that it's price would be rising as its marketcap grows. But still, as you said, I'm definitely expecting a price correction. Eventually, I feel that once it hits a certain price (not sure what it is), the trend will start to reverse. But there is an incentive to hold bitconnect, which is the daily paid interest.

For this reason, I'm hoping it'll be more of a turning down the music scenario rather than a complete race to the bottom into oblivion... ha.. ha *nervous face

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Interesting that the comment I responded to, turned into "...".

I think you're right about "turning down the music" -- why pull the plug, when they can just stop responding to support requests on a timely basis, while still drawing more deposits in... And then have the withdrawals stop working for a week or two, etc...

Then again, there'll come a time when they're "done", which I think I analyzed: https://steemit.com/life/@libertyteeth/bitconnect-is-gaming-the-system-btc-will-keep-rising-and-they-transact-in-dollars