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[BitConnect]

Start: January 2017.
Paying: SCAM

 

[BMF]

This, for the radar.

The problem is Bitconect don't offer securities, I've seen couple videos and it shows on their terms no earnings are guaranteed.

Its youtubers says earnings are guaranteed, so the promoters mislead people and that's why it went down this why.
Will see how this end up, but Texas government claim is out of Bitconnect terms.

 

[Emill]

The problem is Bitconect don't offer securities, I've seen couple videos and it shows on their terms no earnings are guaranteed.

Its youtubers says earnings are guaranteed, so the promoters mislead people and that's why it went down this why.
Will see how this end up, but Texas government claim is out of Bitconnect terms.

promoters often like to mislead people just for getting some more people under their referral link and gain some commission.. I saw your video about bitconnect and it's just not okay from any point you see the situation

 

[Xight]

Hello brother. You mentioned that your investment in this is $0? I thought the minimum is $100, so how did you get in with nothing invested?

This was in response to the referral network adam had posted. The cost to join that network was 0.

I have a little over $500 in bcc atm.

If you want to join bitconnect without putting money in i guess you can sign up for an account and try to work off of referrals only.

Referral money goes straight to the lending wallet, and you can reinvest as little as $10 there for 300 days. You would need to have someone deposit atleast 200 under you though.

 

[Phally]

IMO it is not a scam but a clever way for them to make money based on deposits, and hoping those will go up while they pay out
With Bitconnect, you will have to make a BTC or BCC deposit first. When you start, you probably do not have BCC, therefore you deposit BTC. You will need that BTC, to exchange it to BCC before you can make a lending

During this process, they make their money instant while members earn bit by bit
Its a smart way and I bet they have make a ton of BTC especially during the begin phase, considering BTC is the top dog of coins

In order to withdraw, you will have to go through the same process, the otherway around.
You have received interest, you convert the interest to BCC, then you use the exchange to convert to BTC
From there you can withdraw, taking into account transfer fee

In every step, you will leave some money on the table for BitConnect but it works for many.
In my case I have invested 190 USD and added an additional 130 USD

Every two weeks I perform a BTC withdraw but lately I have been reinvesting

You can always create an account and see how it works before investing.
I have seen better UI then https://BitConnect.co but it works for me

 

[Xight]

This, for the radar.
https://www.coindesk.com/texas-regu...al&utm_source=twitter.com&utm_campaign=buffer

Bitconnect responded with this when i logged in today:

The Texas State Securities Board has issued a cease and desist order aimed at Bitconnect and its affiliates in the state. At this time, we will not allow new lending from the State of Texas. Users that already have active lending will still be able to withdraw as usual.

 

[Whistler]

I have a friend who REinvested Php 800,000 (USD15,852.57) with BCC and that made me join. His first investment was Php400,000 (7926.29 USD) :)

Tried it with USD 110 and so far, doing great~ :)

For those who wishes to join, click on this link (https://bitconnect.co/?ref=poizel25) to register. Once done, I'd be happy to guide you on your Bitconnect journey~~

View attachment 6255 View attachment 6256

How long do they manage to keep on sending you daily profit according to the money you invested? Do they provide the money until the 299 days end with your 100% capital back at that period? Please reply to this. Thanks.

 

[Xight]

How long do they manage to keep on sending you daily profit according to the money you invested? Do they provide the money until the 299 days end with your 100% capital back at that period? Please reply to this. Thanks.

In short yes, you get your capital back with interest withdrawable daily if it meets the threshold.

https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending

The above link explains a bit. But depending on how much you invest your principal return is different.

$100-$1000 is 299 days
$1010-$5000 is 239 Days
$5010-$10,000 is 179 Days
$10,010-$100,000 is 120 Days

Your interest is accrued daily: https://bitconnect.co/learning-center/bitconnect-bitcoin-price-volatility-software/

The accrued interest is posted to your 'Lending Wallet'. Which you can either reinvest (starting at $10 for 299 days) or exchange into BCC (Bitconnect Coins). Once you have BCC coins you can then either withdraw it to an outside BCC wallet or exchange it to BTC. (minimum 0.0009 BTC). Once you have BTC you can withdraw it to an outside BTC wallet. There is a transaction fee for withdrawing your BTC.

Important things to note. When your time is up you get your principal back in USD. Your reinvested amount is returned on their own schedule according to the above matrix. ie: If you reinvested $10, you get it back 299 days after you reinvested it, not on the day your original deposit was put in.

 

[Medowriter]

This is quite interesting but the daily interest is going to your direct lending wallet every day righ while you get back you capital after $299 days which is 10 months.For instance if invest $100, what will be my daily interest?

 

[Phally]

This is quite interesting but the daily interest is going to your direct lending wallet every day righ while you get back you capital after $299 days which is 10 months.For instance if invest $100, what will be my daily interest?

It is based on their algorithm, which can be found here: https://bitconnect.co/learning-center/bitconnect-bitcoin-price-volatility-software/

 

[Whistler]

In short yes, you get your capital back with interest withdrawable daily if it meets the threshold.

https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending

The above link explains a bit. But depending on how much you invest your principal return is different.

$100-$1000 is 299 days
$1010-$5000 is 239 Days
$5010-$10,000 is 179 Days
$10,010-$100,000 is 120 Days

Your interest is accrued daily: https://bitconnect.co/learning-center/bitconnect-bitcoin-price-volatility-software/

The accrued interest is posted to your 'Lending Wallet'. Which you can either reinvest (starting at $10 for 299 days) or exchange into BCC (Bitconnect Coins). Once you have BCC coins you can then either withdraw it to an outside BCC wallet or exchange it to BTC. (minimum 0.0009 BTC). Once you have BTC you can withdraw it to an outside BTC wallet. There is a transaction fee for withdrawing your BTC.

Important things to note. When your time is up you get your principal back in USD. Your reinvested amount is returned on their own schedule according to the above matrix. ie: If you reinvested $10, you get it back 299 days after you reinvested it, not on the day your original deposit was put in.

Wow! their plan looks promising. But if I get it right it means that at the end of the period (299 days or according to the plan you chose) you will get 299% of the money invested+Capital. For example if I invest $100, after 299days I will be having $299(Profit)+$100(capital)=$399. Am I right??

 

[BMF]

after 299days I will be having $299(Profit)+$100(capital)=$399. Am I right??

The interest rate it fluctuates the entire period, it can be lower or higher.

With $100 invested and last 30 days average of 0.89% interest you will get at the end of 299 days following:
Your profit : $254.15
ROI : 254.15%
Profit with principal : $354.15

 

[Xight]

Wow! their plan looks promising. But if I get it right it means that at the end of the period (299 days or according to the plan you chose) you will get 299% of the money invested+Capital. For example if I invest $100, after 299days I will be having $299(Profit)+$100(capital)=$399. Am I right??

No. The interest is not guaranteed. For example today's interest was 0.01% So for $100 you get $0.01.

Their running history though is pretty good. I keep track of it on an excel sheet, and it averaged to about .90% daily since about November.

The https://bitconnect.co/learning-center/bitconnect-bitcoin-price-volatility-software/ page shows a 0.85% 30day average. Which matches my excel sheet.

 

[Whistler]

The interest rate it fluctuates the entire period, it can be lower or higher.

With $100 invested and last 30 days average of 0.89% interest you will get at the end of 299 days following:
Your profit : $254.15
ROI : 254.15%
Profit with principal : $354.15

Thanks for your information. I thought the interest rate is always constant. Now my question to you is this: Why isn't it marked as a legit site so far in our forum as I have seen already payment proof's here. Are you doubting the site?

 

[BMF]

Why isn't it marked as a legit site so far in our forum as I have seen already payment proof's here.

It is classified as HYIP and should have PAYING prefix, will add later today, since this program is paying for more than 6 months.

 

[Xight]

Speaking of which Bitconnect still paying: Proof for this weekend.

https://bitconnect.co/?ref=XightX

Reinvested $110 so far, and received $124.10 to wallet (after losing about 0.0016 btc of profit in fees)

Last 2 weeks I had almost $30 from referrals and reinvestment commission so withdrawals seem very high

 

[Whistler]

Ok then.

 

[BMF]

Is this really an DDOS ATTACK or EXIT SCAM?

We'll be back soon!
Sorry for the inconvenience but we're performing some maintenance at the moment. If you need to you can always contact us at [email protected], otherwise we'll be back online shortly.

— The Team
BitConnect

 

[Phally]

B,

Its back online

 

[BMF]

"Changes coming for the Bitconnect system - Halt of lending and exchange platform

This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes.

The reason for halt of lending and exchange platform has many reasons as follow:

The continuous bad press has made community members uneasy and created a lack of confidence in the platform.
We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.
Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.
Closing the lending and exchange platform doesn't mean that we will stop supporting BitConnect coin. Closing the lending platform will allow Bitconnect to be listed on outside exchanges giving more options for trading.

We will keep working to make BitConnect coin available to merchant websites providing them API access to accept BitConnect Coins on their platforms.

BitConnect X ICO is still functional and we are building an exchange platform on the BitConnect X website. With BitConnect X operating as an exchange platform, BitConnect Coin (BCC) will be listed there.

This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency services in the future.

Best Regards,

The Team BitConnect"

 

[Xight]

Site's been down quite a bit today, but I was able to retrieve my BTC balance from the bitcoin wallet in Bitconnect. My withdrawal of BCC to livecoin is still pending though. The value dropped from 376 down to $40 or so, and will probably keep going down.