Great post!
It bitconnect legit? Yes and no
Yes->There are some genius things they did that looks like they are making a killing and sharing the profit with lenders.
Proof of stake and making interest on holding BCC. Since they hold the majority of the supply, they make a lot of profit.
They only let you money into it by BCC and get $$$ back. Essentially you are dumping your stash and locking it for 300 days reducing the supply and this makes demand higher and drive the prices up. By the time they want to pay you back, they give less BCC.
The BCC to BTC exchange happens in their website for the most part. They make a killing on the fees.
They have a bot that seems to be trading and making money.
Now why No, it's not legit, there is no transparency.
If there is a bot, where is it trading, what's the wallet address ?
How can a BOT makes money all the time. Seems to good to be true.
Lack of transparency to show they are cash flow positive when making money on fees, bot, exchange and increase of the price.
My strategy :
I did my homework and decided to throw money into t. I am putting $10k in it, $5k in buying BCC and holding on to it, $5k in lending.
RE: -- Bitconnect experience -- First Week Log