When will the BitConnect Scam Pyramid Scheme Collapse? Enter your guess in the comments.
I have already explained that pyramid schemes fail.
https://steemit.com/fraud/@cryptick/is-bitconnect-a-ponzi-scheme-post-1
And shown there are some funny volume numbers for BitConnect.
https://steemit.com/bitconnect/@cryptick/bitconnect-scam-inside-the-bitconnect-trading-bot-post-2
When is this Pyramid going to fail?
First off, here is the pyramid that shows the kickbacks -I mean “referral bonus” you get paid for supplying fresh meat –I mean “referring your friends.”
Act now you can be in level 7 and lose all your money!
And then there is the lock up periods when you make an “investment” which is shown in this snippit from the company's website.
https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending
And by companies Website I mean the US address that the some of the companies .domains are “registered” as shown here…
http://bitconnect.in.w3snoop.com/
Yeah that doesn’t look like much of corporate headquarters to me. I would have used an address off the website, but wait there isn’t any. Red Flag anyone?
In anticipation of the Pyramid scheme failing I would like to offer everyone an entertaining video!
Rules:
Every person gets to guess one date. Since we can’t figure out where this company is based let’s use UTC time in honor of blockchain. The first guess reserves the entire day UTC time. Cryptic will be the sole decider on who the winner is and will reward half of his portion of this post’s payout to the winner who guessed that day or is closest. Put your guesses and any optional reasons why in the comments below! By failure I am looking for a complete collapse of the BitConnect coin, the stopping of payments, closing of the website or the event that closest brings it on. (I am open to better suggestions on how to exactly track “failure,” but with fly by night operators, it might be hard to know which night they actually fly.).
You will also get great bragging rights!
It seems the company got popular according to Alexa in September.
I think it will take about 6 months to get the most money in, so I will put February 1, 2018 as my collapse date.
Of course one has to be careful to include the number of fools, the amount of greed, and the number of determination of fraudster in your calculations. I just took a guess.
Upvote this post to increase prize pool.
Comment below with the date you think Bitconnect will fail!
Good Luck!
Edit:
How Many People are Involved? Post 4
https://steemit.com/bitconnect/@cryptick/bitconnect-scam-how-many-people-are-involved-post-4
Post 5: Inside the Facebook Profile of a Scammer
https://steemit.com/bitconnect/@cryptick/bitconnect-scam-inside-the-facebook-profile-of-a-scammer-part-5