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Bitconnect term of use| Community terms and conditions

Risk Disclosure
Virtual currency such as Bitcoin is not legal tender, and is not backed by the government. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange and value of Bitcoin. Transactions in virtual currency such as Bitcoin are irreversible, and accidental transactions may not be recoverable. The volatility and unpredictability of the price of virtual currency relative to the fiat currency may result in significant loss over a short periods of time. Any technological difficulties experienced by the Bitconnect system may prevent the access or use of members virtual currency temporarily or permanently, depending on the severity of damage.

There are risks associated with trading and investing. If there should be a system failure, hacking incident or technical failure these terms apply to the members.

For lending, we pool the member's funds for our volatility software and trading bot. This is in case we make a loss with trading or there is any technical failure of the platform or a sudden drop in asset value that we are holding.

In lending, the member agrees that they cannot terminate their contract before the term plan has ended which the member has chosen.

All lending activities are reported in United States Dollars consequently members will receive all capital and interest payments in United State Dollars and not BCC which was initially lent by the member.

Members should note that there is no guarantee of daily profit for lending.

Bitconnect reserves the right to institute and implement new rules of paying interest and capital should Bitconnect lending fail in any way.

Bitconnect reserve the right to change the lending algorithm, the interest payment and capital back system.

There is no guarantee of investor's capital if the lending system fails due to any of the reasons mentioned above.

Seems like there's conflicting information and its not so easy to actually find the risk disclosure. Considering they force you to lock in a term (not sure of the length), short existence and promise of returns after the agreed term has ended this does look like a scam.

I work in an industry that can offer amazing returns on investments or go bust because of the risks associated but none of them will guarentee certain returns. The ones that did guarentee returns pre-2010 turned out to be scams or failed operationally...

From a due diligence perspective these are some real issues that should be taken into consideration before affiliating Sythe with it:
- Who are the owner(s) and what background do they have?
- Is there evidence of an actual bot that functions?
- How can the company ensure they don't suffer massive losses during a down market?
- Since no audit will ever be done are you comfortable taking words on a site as fact?
- How long are the terms and is investor capital guarenteed if your position goes below the initial investment? If so, where does this money come from?

Anybody advertising this site should be comfortable explaining this in my opinion. People take staff's suggestions seriously and advertising something like this could be a huge reputational loss should it turn out to be a scam or fail operationally.

 

Bottom line: Bitconnect is sketchy to say the very least, but I would argue that it is in fact a scam
-Doing the math proves this
-Reputable sources like Vitalik and
Charlie Lee agree this is a Ponzi scheme
-users on this site advertise for 1% daily returns or more, deputy the site not claiming 1% daily returns



@Astro is seems as though @John Devola has shown that BitConnect does not offer 1-15% returns so why do you advertise this

"Feel free to message me with questions on how to get setup on Bitconnect
The volatility interest rate is around 1%-1.5% DAILY profit
PM me with questions here or add me on Skype here "


I am not trying to call you out or anything, I simply want to know why you say this and not the site, despite the fact that I know Bitconnect used to advertise 1% daily returns

@Sythe despite what the other mods say, I think it is bad business to continue to allow Bitconnect advertising on this site, there no loss to removing this other than maybe pissing off people who use the Bitconnect banner in their signature (which is used as a referral link for boosted daily profits... Which also adds to the credibility that this is a classic pyramid scheme.)

 

At the time of writing said message my profit from the last 30 days was an average of 1.35%, though I agree it should say "up to"

 

So I'll be conservative and say the daily interest is around 1% daily?

So If I invested $1000 right now, in one year my profits will look a little something like this. Correct?





If this is the case, than this is the probably one of the highest returning investment of nearly 500 fortune 500 stocks, or just investing in crypto itself. This would make it one of the best investments of our time.

With my calculations, a 1% daily interested compounded daily for 12 months off of a $1,000,000 investment (which is nothing to some people), would net you around $36,000,000. Meaning that if everyday you lent out your money to Bitconnect, in a year they will have to start paying you nearly $10,000 a day.


Compounded for 2 years would net you... wait for it... $1.1B USD


.... So that being said, why isn't every single wall street investor hopping on board with Bitconnect.

 

Excellent. Just took out 4 student loans and put them all into bitconnect. Thank god I'm guaranteed to make ridiculous profits I really needed this. Thanks @Astro !

 

Where is the 1% guaranteed other than looking at past interest rates?

 

"garuenteee" isn't specifically stated on their site
But once I am on a PC I'll add some photos from over the years where they used to use the pryamid structure and 1-1.5 % daily returns as their advertising.

Its not clean cut like "hey join and we promise you will get 1% daily returns" but they are essentially making this case and have been since its inception. I can't wait until it falls and they have a few law suits on their hands. Rather or not they win, those whales who invested towards the end of its scheme will not be happy



Again if the profits are really half of 1.5% daily profits people advertise then there would be zero reason to invest in anything else other than Bitconnect

 

s/o to dalton bouta rob all of our BTC on bitconnect

 

BitConnect Closes Exchange as States Warn of Unregulated Sales

 

It just died lol

 

owned

 

beet conneccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

 

more like BEEET DIS-CONECCTTTTTTTTTTT
HAHAH REKT

 

@Sythe lold

@Astro you said it wouldn’t end up in scamming?

 

​

 

I have 1 trillion BCC anyone wanna buy pls

 

buy the dip