Review on BitConnect by LUIS RIVERO R
Ponzi scam exit 2018.
This is a scam project, your asset was 100% backed by its loan program and high return on interest, basically you would invest a thousand dollars and in ten years you would have approximately 96 million.
BCC is a clear example of a planned ponzi structure, the money wagered on this platform went to accounts located in tax havens, the money will never be returned. This is currently the most significant SCAM in the world of cryptocurrencies and blockchain.
* This project raised 468 BTC in its first ICO.
* No technical document, roadmap, or real characteristics of this project.
* High rates of return with more than 480% per year according to the money invested.
* Affiliate program is obviously a pyramid structure.
* The BCC asset was fully manageable in the market since there were really very few who had this asset and a large part of the volume was managed in the Bitcoinet property exchange.
* They had a supposed commercial Bot that generated profits daily, something that not even the best companies in the international market have done.
In general, this scam is an example of a combination of a pyramid and digital markets using cryptocurrencies that many lost out on. And one of the biggest losers at that time was the reputation of Bitcoin and cryptocurrencies in general since this was very hot news in the United States.
TOO GOOD TO BE TRUE! PLEASE NOTE FOR FUTURE INVESTMENTS THE CHARACTERISTICS OF THIS SCAM
Pros
- No positives to consider.
Cons
- High interest yield in a short time.
- Highly volatile.
- This cryptocurrency lost 100% of its value in weeks.
- The exchange and developers handled the entire volume.
- Obvious errors on your loan site.
- many people lost their life savings.
