Bitconnect’s lending program

I’ve invested in cryptocurrencies for 2 years and owned Bitconnect coin since April 2017 at $7. (12:38 pm EST, Oct 31, 2017 it’s it’s $235.30. It has an impressive graph. ) About 2 weeks ago I entered its lending program. The lending program is equally impressive, the percentage varies, but it averaged .9% (9/10ths of one percent) per day for the last 6 months–that’s about 500% if you reinvest your daily interest!

However, last night I saw a website that claimed Bitconnect was a scam. That worried me, so I decided to see why people thought that so I would know whether it’s true.

I’ve numbered the reasons people called it a scam and put my thoughts about each reason under them. I’ll let you make up your own mind.

Reasons given for why Bitconnect is a scam:

1. Anonymous owner
Same as Bitcoin

2. Decentralized, no head office
Same as Bitcoin

3. Trades on its own exchange
Same as Bitcoin. You can’t buy Bitcoin at a bank or stock exchange. Bitcoin is only sold on its own network.

4. They promise a guaranteed interest rate with no risk of loss
This is false. Read their website. They do not guarantee or promise anything.

5. Too good to be true
Same as Bitcoin. By the way, so was the automobile, the electric light, etc.

6. Labeled a “Ponzi scheme” by many people
Same as Bitcoin

7. Misspellings and bad English on their website
Cryptocurrency is worldwide with many Asian sites having good cryptocurrency, but bad English.

8. They pay a generous referral fee as an incentive to people to promote their website to attract lots of visitors
What’s wrong with that? By the way, that referral fee does not reduce your loan amount and you get the full loan amount back at the end of the loan.

9. You loan them Bitcoin and they pay you back in dollars
That’s one of the ways they generate the profit to pay the daily interest.

10. You buy Bitconnect from the developers
Same as Bitcoin

11. They will take all the profits someday in the future and shut down the website taking everyone’s money
Anything’s possible, but usually Ponzi schemes don’t last more than a few months and this has been around for a year. Furthermore, you’d think Ponzi-scheme perpetrators would be happy to get away with several hundred  million dollars, but Bitconnect is already worth 1.7 billion. So, if they were going to do that they would have done it by now. In addition, there are still people saying Bitcoin is a Ponzi scheme and a fraud: CEO of JPMorgan, prince of Saudi Arabia, etc. Of course, they are trying to protect their control of our money.

12. Their volume on www.coinmarketcap.com is false because all the volume is from their exchange
For years, Bitcoin’s market cap was only what Bitcoiners said it was.

13. No white paper (A thesis covering proposed purposes, plans and technical details)
Henry Ford, Microsoft and Amazon never wrote them either.

If you want to learn more or participate, click here to go to their website or email me at support@bitcoin-secrets.com.

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