Thanks for the disclosure. That last bit "And I have been able to send bitcoin from and to a top 3 rated exchange" is a bit strange. Sending bitcoin to and from an exchange is nothing new. If you meant bitconnect, I'm skeptical. They are only available on their own centralized exchange, which for me personally is a huge put-off.
Later edit: I researched more, and seems like a few exchanges accept BCCoin actually, and also you can mine it, so not entirely sure if it's 100% scam. I will watch this, and if it survives the next big BTC dip, I will try maybe.
Cheers. I try as much as I can to balance my opinions with facts. If it's not gonna blow up, they will still give 40%/month 2 years from now, so it doesn't matter so much if you get in at 90 or 900. Patience is a virtute, but knowing when to act is one too 😉
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
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...
Thanks for the disclosure. That last bit "And I have been able to send bitcoin from and to a top 3 rated exchange" is a bit strange. Sending bitcoin to and from an exchange is nothing new. If you meant bitconnect, I'm skeptical. They are only available on their own centralized exchange, which for me personally is a huge put-off.
Later edit: I researched more, and seems like a few exchanges accept BCCoin actually, and also you can mine it, so not entirely sure if it's 100% scam. I will watch this, and if it survives the next big BTC dip, I will try maybe.
I'm glad you were able to address your own concerns, saved me a lot of typing =D
I hope you come to realize it is not a scam and you give it a try.
It cracks me up to read all these comment now. I did warn you.
Cheers. I try as much as I can to balance my opinions with facts. If it's not gonna blow up, they will still give 40%/month 2 years from now, so it doesn't matter so much if you get in at 90 or 900. Patience is a virtute, but knowing when to act is one too 😉
If an algorithm, created by a human, can do such a great job -- why aren't there tons of algorithms out there, doing great jobs?
I'm in it as well but I'm waiting for the music to stop.
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
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