Bitcoin vs bitconnect
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Sep 16, 2019 · Unlike Bitconnect, BlockFi’s lending model is clearly stated on their website. Furthermore, the CEO of BlockFi is well known and regularly appears on interviews. In fact, Anthony Pompliano, an investor, regularly plugs the platform on his popular podcast (Off The Chain). This is a sharp contrast from Bitconnect. BitConnect (BCC) was an allegedly open source cryptocurrency and the native token of the now-defunct ponzi scheme BitConnect. Launched in February 2016, shortly after the project itself, BCC aimed to function as the means by which participants in the BitConnect scheme invested and received payouts.
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Others claim it’s a HYIP-style lending platform. And some – the most gullible investors – believe it’s a legitimate business opportunity. However you view Bitconnect, you have to admit something strange just occurred. This past Thursday, Bitconnect’s market cap suddenly […] Sep 24, 2020 · Bitconnect is an excellent use case for newcomers to learn how crypto scams can operate.. Firstly, BitConnect had no traction until the lending platform was announced. For a profitable business, it’s mandatory to have a working product, a product-market fit and a clear revenue model, among other fundamental aspects of valuation.
Bitconnect is the bitcoin community’s most notorious scam. Some describe it as a Ponzi scheme. Others claim it’s a HYIP-style lending platform. And some – the most gullible investors – believe it’s a legitimate business opportunity. However you view Bitconnect, you have to admit something strange just occurred. This past Thursday, Bitconnect’s market cap suddenly […]
Equally poetic is the timing following on from the ‘death’ of fellow ponzi scheme OneCoin, the founders of which spent years accruing around $4 billion. BitConnect describes itself as “the cryptocurrency revolution”.
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In the video above, Coin Talk podcast hosts Aaron Lammer and Jay Caspian Kang say yesbut they have some caveats. (In further conversation, they compare How can you get started with bitcoin?
To me the In the past, Bitconnect was among the top 20 major cryptocurrencies with a market capitalization dollar value of approximately two and a half billion dollars ($2.60 b). The service provider allowed its consumers to offer the Bitcoin owned by them to their Bitconnect swapping bot to have regular revenue. Bitcoin got its 15 minutes of fame on US TV show Last Week Tonight, but it was likened to BitCoinnect while host John Oliver ridiculed Don Tapscott. Comedian John Oliver tried to explain Bitcoin March 11 - with the help of a fake BitConnect promoter Carlos Matos and Don Tapscott comparing the Blockchain to a Chicken McNugget.
BitConnect is a scam.. BitConnect Coin is a decentralized digital currency, an open-source and peer-to-peer protocol that allows people to invest their possession in a non-government related currency and stores it and even earn from these investments. I feel really uneasy. I looked up BCC site, very confusing site and could not make up my mind. I can’t understand how do BCC folks make coins to pay dividends unless this is crypto Ponzi scheme. Bitconnect Coin (BCC) was distributed on 14th January, 2017 and works free of a single administration, such as a central bank.
Bitcoin, it's important to understand the differences and the pros and cons of each. Here's a thorough comparison. Bitcoin was the first cryptocurrency. Litecoin, on the other hand, came Feb 14, 2021 A crypto kid had a $23,000-a-month condo. The case echoes similar cryptocurrency frauds, such as that of BitConnect, promising people Jul 25, 2020 There's always a get-rich scheme in cryptocurrencies. Thousands of investors lost billions of dollars on Bitconnect, a pyramid scheme offering Aug 7, 2017 In the previous three months, the cryptocurrency has registered over 700% growth, which has been stable compared to that of other altcoins.
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History. Bitconnect was released in 2016 with the goal of allowing users to lend the value of Bitconnect coin in return for interest payments. The marquee program was the so-called lending platform where users traded Bitcoin for Bitconnect Coin and could lock in the instantaneous value of the coin for a set period of time while earning interest calculated daily.
Bitconnect is used to be described as a high-yield investment program. Guaranteed to earn investors up to 1% total return everyday or about 3,780% profit per year, Bitconnect offered an incredibly high interest rate to investors who would "lend" funds in Bitcoin (BTC) to various projects. The problem I'm having with lending is, if I kept it in bitcoin vs. using bitcoin to buy bitconnect tokens then send to the lending program which at 1% a day is nothing to how the actual bitcoin is performing. So right now, your investment would have better gains if you just put it in bitcoin directly and sat on it.
Bitconnect is a new player in the cryptocurrency game, but is it worth an investment? Bitconnect vs. Bitcoin: There Are Still Problems for Bitcoin Let's look at Bitcoin and the problems it's currently facing.
Bitcoin’s price can swing up and down by hundreds of dollars a day, so anyone who can predict these changes can make a fortune. BitConnect BCC Exchange with Bitcoin – either by using Bitcoin already owned or purchasing Bitcoin with a fiat currency. 29. Once the investor deposited his or her Bitcoin into the Bitconnect BCC Exchange platform, Bitconnect instructed the investors to sell his or her Bitcoin to Bitconnect in exchange for Bitconnect’s digital coin, BCC. Dec 13, 2017 · Again, there is no difference. While the official ticker symbol is BCH, BCC is used in many Asian markets and on some exchanges. However the now failed scam coin Bitconnect was referred to as BCC as well, so it’s preferable to use BCH for describing Bitcoin Cash to avoid confusion.
I can’t understand how do BCC folks make coins to pay dividends unless this is crypto Ponzi scheme. Bitconnect Coin (BCC) was distributed on 14th January, 2017 and works free of a single administration, such as a central bank. It is a mineable crypto-currency, using the Bitconnect Coin algorithm and the Proof of Work and Proof of Stake (Pow/Pos). BitConnect describes itself as “the cryptocurrency revolution”. Find out how BitConnect’s currency – BCC tokens – work today in our review. What is BitConnect?