Ever since I've joined the Steemit and Crypto Community, I've been seeing a lot of people pumping up bitconnect, which could possibly be a scam.
According to @thegrinder's post, he explains what bitconnect is:
"For those of you that don't know, BitConnect is a cryptocurrency(BCC) and a site that promises its users a return of up to 480%+ in cash(not crypto) per year, and even a guaranteed profit of up to 91.25% a year, depending on how much you invest, with no risk of loss! They claim these money are made with a cryptocurrency trading bot that they created."
Excerpt from @thegrinder's post : https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
Here's the summary of how @thegrinder shows how it's a scam:
"To recap: They attract users by promising amazing returns on their investment. They artificially increase the price of their crypto by tricking users into buying it with Bitcoin and giving it back to them, along with the Bitcoin. They pay back the interest to their users from new investments. When their profit is maximized, they sell all of their artificially inflated currency(7000%+ since release) and Bitcoins and disappear."
Excerpt from @thegrinder's post : https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
So anyway, he talks about how the cite is shady, and how it's too good to be true. The cite does have bad english and grammar, which shows that it could be run by a bunch of scammers in another country. Legit websites wouldn't be too good to be true and would have better English, typically.
I mean, it is just too good to be true:
And more and more people are noticing it, and are flagging people who are pumping bitconnect and other scams.
Why do you think @craig-grant has been getting flagged by @fulltimegeek? Because people are realizing he is pumping up a scam, and @craig-grant, if you see this, it's nothing against you personally, but it really is a problem to be supporting that cite. He is currently powering down because @fulltimegeek is flagging him and he probably figures since @fulltimegeek is taking away his money he is making on steemit, he should quit. I don't know the full story, but what I can definitely say is bitconnect is a scam. And all of the people pumping it up, @trevonjb @yuliana and @craig-grant are getting flagged because people are starting to realize they promote a scam cite. I have nothing against them personally, i'm just pointing out the fact that people are realizing bitconnect is a scam, therfore they are flagging the people supporting it and pumping it up.
Look how much he is getting flagged:
That's just crazy, now he is losing all of his money he made on steemit...Which is sad. I wish you luck, @craig-grant! :)
