It's best I put some bullet points instead of rambling on. I'm a gambler by nature, but I'm also a thinker and I can be quite conservative. Hopefully you will have an understanding of where I am mentally and investment-wise regarding Bitconnect.
Pros:
- I have a bitconnect account. I've received ~60% of my initial deposit back in 55 days.
- I have easily transferred my profit into hard assets (silver); almost daily.
- More and more people talk about bitconnect (can be a negative too; more below)
- Bitconnect has run successfully for over a year.
- Daily payouts run routinely, right on schedule, no muck ups except for the problem last month regarding the semi-hack.
Cons:
- Who are the founders? The spokespersons? .....? I am uneasy about this. Does this not worry you?
- Bitconnect has run successfully for over a year. For those who don't know: CON is short for confidence game/man. For any good con/scam to work you must instill/gain trust of your target.
- How does the trading-bot work? Where's the evidence other than the daily payouts?
- How long can these great returns persist? (hopefully for years....but seriously..)
- Possibilities (some far-fetched; some not):
a) ingenious scam
b) BTC becomes illegal in the U.S. and other large countries--killing bitconnect
c) BTC is no longer volatile,---the returns drop to miniscule amounts, people want out
d) Bitconnect is hacked, badly (several possibilities--some extreme, some possible)
There is now USI Tech. To me-seems like a scam...quite similar to Bitconnect but deals with trading/software/Forex. ---with absolutely no link to any proof on the website, and I've actually been approached via response to one of my replies on youtube that I should check it out/join. ---essentially--cold calling/messaging (20 yrs ago people would call you on the phone (land-line) to sell you bullshit)
My point: If you are invested in Bitconnect or plan on it: Good luck,..but might I suggest routinely taking out profit until you retain 90-100% of you initial investment before you decide to reinvest. Many are simply reinvesting their profits, every day, in hopes of becoming filthy rich in a matter of a couple of years. The problems I see are: what happens when everyone makes loads and loads of money and want to start pulling their money out? If there are fewer and fewer 'buyers' of bitconnect coin (BCC) and more and more 'seller's' each day, people are going to have a hard time getting their money/coins out. Think about it---every day you'll have to fight to sell your BCC (when they become available after the allotted time has expired). And my second point, and this comes from personal experience. Years ago when I was around 20, and I really really trusted everyone, I answered a job posting by attending an appointment. I forget the job title, but essentially when I showed up there were 30-40 people there. Their 'spiel',...their 'selling point' ---wasn't a job at all---they were trying to sell everyone into buying investment plans and stating how, and showing how, if we continually invested we would make lots of money through compounding interest. It was bullshit. They lied to me from the start. I thought I was there to interview for a job. Thankfully I walked out.
I forgot all about that experience until I started to see people posting about how through 'continual re-investment in bitconnect and compounding interest ...you can retire in 2-3 years.' Hell,....I hope Bitconnect lasts and lasts and lasts. But,.....come on now,.... Be careful, COME DOWN FROM THE CLOUDS,...be smart. Think of that scene in Inglorious Bastards when Brad Pitt's character says to the Jew Hunter ''in our neck of the woods, if something seems too good to be true---it aint"
You can definitely make money from Bitconnect--provided it continues for awhile,...but seriously start considering just how long it can continue. Ok...I'm done preaching. Good luck!! Don't be Greedy.