[Patriot]

It screams HYIP Ponzi scheme, and many people are getting sucked into this trap. I have even seen comments of people selling off their cars/houses to invest in this.

Basically for those of you who don't know what it is, you lend Bitconnect money, they lock it up for a set time, and promise about 1% returns a day, up to 40% a month. To get a sense of how much that is: Charles Ponzi, the man that "ponzi scheme" originates from, promised 50% in 3 months.

Stay clear.

[Copywriter]

Thanks for the heads up.
They look legit as well.
https://bitconnect.co/

[Vezel]

Thanks for the heads up, just curios: Why do you think this?

[Abhax]

People just need to do research prior to investing into something they have no knowledge of.
Seems pretty popular now adays haha. Thanks for the heads up.

[coldy]

could be a ponzi scheme or it could be legit time will tell

[BitcoinLuxury]

It has been paying out well for me already made a 30% Return on $780

[Patriot]

Thanks for the heads up, just curios: Why do you think this?

Many red flags.
They say that these returns are from a trading bot they have, but have no proof of this claim. And if this bot did exist, that would be a truly amazing bot to make these promised returns.

Their referral program is extremely generous. Why? To get more people to sign up so that they can pay current investors out with new investor's money.

Bitconnect locking up your original investment further illustrates the idea that they're safe from many people trying to withdraw at once, which would cause them not to be able to pay daily.

---

It has been paying out well for me already made a 30% Return on $780

Yes, it pays out. Just like how Bernie Madoff paid out. But the whole thing can crumble at any point in time.

At the same time, this whole thing can go on for years. I just wanted to warn people about what's really going on.

[DontQQSoMuch]

It has been paying out well for me already made a 30% Return on $780

I would cash out to be honest. No reason to risk anything now

[DreadPirateDrake]

The old adage stands true in the crypto-sphere. If it seems too good to be true; it probably is. These temporary cash-outs are very likely the result of classic pyramid scheme methods, use previous investors buy-ins to pay out to the next investor. Repeat until you have a massive amount of money in your vault, and bounce.

[Reporter]

Thanks for the heads up.
They look legit as well.
https://bitconnect.co/

Yes indeed

[BeastCage]

Woah, thanks for the heads up bro. They do look super legit too.

[Shikatanai]

And also bitconnect.co blocked by my malwarebytes

[ProtectNull™]

And also bitconnect.co blocked by my malwarebytes

Yep, I had to disable mine to view this site.

[XMR]

I've heard of this site, but I've never done any research on it. If this site is actually promising a 40% monthly return by trading bitcoins with a bot, it is an HYIP/ponzi scam. There is no such thing as automated free money, and if there was, they certainly wouldn't share it with you. They guarantee a certain amount of profit with a higher return rate on a higher investment, big red flag. The minimum investment is $100, big red flag. They're just trying to get more money out of you before they scam you.

The whois data is anonymous as well, big red flag:

Code

Administrative Contact ID:                   A2IER553D4IO5V2I
Administrative Contact Name:                 WhoisGuard Protected
Administrative Contact Organization:         WhoisGuard, Inc.
Administrative Contact Address1:             P.O. Box 0823-03411
Administrative Contact City:                 Panama
Administrative Contact State/Province:       Panama
Administrative Contact Country:              Panama
Administrative Contact Country Code:         PA
Administrative Contact Phone Number:         +507.8365503
Administrative Contact Facsimile Number:     +51.17057182
Administrative Contact Email:                [email protected]

Just because it pays out, that doesn't mean it isn't a scam. In fact, HYIP/ponzi scams pay out to make themselves look legit and attract more victims, therefore maximizing their profits.
Remember the golden rule: If it seems too good to be true, it probably is.

[coingamer]

%1 daily in the crypto world is nothing. Just the fact that their token in on a few exchanges is proof enough for me. They are also going to be at the blockchain expo.

For all the skeptics out there, just remember that sitting on your money and not doing anything with it is worse than taking a chance and losing it.