Ban BitConnect Signatures and Postings

BitConnect is a Ponzi scheme, Ethereum and Litecoin founders warn

If needed i can provide more examples of all of the high ranking cryptocurrency developers like Charlie Lee stating and explaining how Bitconnect is a scame

There are literally dozens of videos online explaining how it is a Ponzi Scheme

the grammar on their site does not help their credibility

Michael Novogratz even stated so on twitter (see link above)
Charlie Lee said it
Vitalik Said it

They all know it is a ponzi scheme yet we are allowing the advertising of one of the biggest crypto scams. There are multiple members who are both new, high ranking, and decent guys who are directly promoting bitconnect in their signatures and or UT.

Bitconnect advertising a 1% daily return on investsment, meaning that a $1000 investment will net you about $50m in 3 years time...

It has been proven that many of the stakeholders in the parent companies of Bitconnect's given names don't even match up with their real names and birthdates.



Look, i don't care if you are making money on Bitconnect, good for you, but advertising a known scam to a site that already has a reputation for having one of the largest concentrations of scammers/users in this type of market doesn't look good for the community as a whole.

I don't believe that you that are promoting Bitconnect are doing so with harmful intent, but you are getting referrals for promoting a scam in your signature and in the cryptocurrency discussion threads and I think that the administration needs to step up and fight for whats right, despite how much money is involved.



I am the LAST user on this site who is for the censoring of ideas , but this is a well known ponzi scheme and should be banned from discussion on sythe, as well as a ban for all signatures and referrals regarding Bitconnect.

 

Definitely agree. It's pretty clear that it is a scam/will be

 

Yeah, it's misleading and is going to get shutdown for fraud eventually. With former admins promoting the site, it's going to lead people to get their money stolen as a direct result.

Please ban this.

 

Thank you for supporting, it does mean a lot that higher ranking users like yourself realize this.

 

Definitely needs to be prevented. Makes no sense to allow BitConnect to be linked; even if it seems legit right now (to people who don't read more into it and do their own homework). Something that promotes such high yield ("UP TO 40% MONTHLY") should alone be a redflag, not to mention all the two well known digital currency founder's have said. Support.

 

I understand your frustration and although I must agree with you that the whole bitconnect platform sketches me out, unless anyone is able to show a case where bitconnect actually scammed someone we're not going to censor something based on, well, hear say

 

oh so essentially we just have to wait until bitconnect fails and scams thousands of users until we do something about it? Sythe users who click on other sythe users signatures (the same signatures that give extra % on top of their daily profits for referrals, when its no secret) will be scammed in the long run.

UK threatens to shut down popular Bitcoin investment site BitConnect
https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed


also let me set the record straight here. If someone invest $10,000 in bitconnect, after 5 years, bitconnect will be paying that same user $11,000 /day. How is that sustainable? It isn't. there is just no way. it is obvious this is a scam

i think that is the major problem with this site. We all see a scammer coming from a mile away but we do nothing until someone loses their money.

 

They are innocent until they actually scam and for that reason we can't just ban them from being advertised on the site. If we wanted to ban people just because we thought they were going to scam then a lot more users would be banned right now but that's not how it works. Once they break one of our rules (scamming) then we can ban them from being advertised on site.

 

nvm looking forward to the kids crying after the site goes down, thing with ponzis is that they work until they don't. educate yourself

 

Big if true.

Keyword being 'if' though - and the all important evidence is required.

In other words, got proof?

 

going by this, if i create a ponzi, and tell everyone its not a ponzi - can i advertise it on sythe?

 

Yes but you'll be banned after you exit scam.

 

They'll just pull out the free market argument again. Unless there's clear cut evidence beyond any doubt that Bitconnect WILL scam, there's not much that can be done. It's like when people post maxed accounts for $150 or say that they're buying massive amounts of gold above the market average - never going to happen but it's a free market and they therefore can't simply be stopped because it appears suspicious.

 

Probably much more educated than your poor ass but okay mate

If you actually learned how to read you will see that I mentioned exactly what you just said

So I'm going to do what @Dieze said and create a very elaborate poni scheme and advertise on sythe, only to scam quit 1000B whenever I think this is dead

And to those saying there is not proof... The proof is literally in the advertising

"1-1.5% daily returns"... A 1.0% daily return for a $5,000 investment compounded daily for 2 years would be worth over $7million.

The proof is literally in the advertising

Anyone who thinks a $5000 investment over 2 years will net them $7m is either stupid or in on the scheme
It fits every criteria needed to be a ponzi scheme

 

Pretty sure you know the answer to this friend....

Good post

I personally agree with you but from the site's perspective we cant ban/abolish anything that looks close to suspicious (free market yada yada); ur free to create a thread explaining how bcc is a scam however

 

I apprchiate the response
I kinda thought that this would be the answer
I truly do think that the end of Bitconnect is coming very soon so I guess I will just have to wait until then

I understand where you are coming from. Maybe people will stop promoting Bitconnect for moral reasons rather than because the administration bans it.

 

Former Admins doing it know very well what it is, but the sooner they get to the top of the pyramid the sooner they can cash out from it.

 

Innocent till proven guilty, just like the users on this site. Get us proof of the scams happening and I'll re-open this thread but for now I'll close it because it'll only lead to a discussion.