and I open up today’s show by looking at BitConnect and questioning who is it that really benefits from their service. Following on, we chat with Jacob Cardarelli (
), Founder of Crypto Centric, the Bitcoin and Blockchain education centre.
What BitConnect claim they provide:
For those that don’t know, BitConnect (BCC) is a cryptocurrency and online platform that advertises it’s services as an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunites with Crypto education to secure financial independence.
If it looks like a duck, walks like a duck, and quacks like a duck, then it’s probably a scam.
For $10,000+, they claim that you get a guaranteed 0.25% daily interest, which means 91.25% guaranteed return per year. Add to that the referral system, which pays your referral 7% of every investment or reinvestment you make, and his referral gets 3%, and his referral gets 1% and so on, until the 11th referral, adding up to more than 12%. So if you invest the same amount 3 times in a year, they would pay your referrals 36%+ of your initial investment.
Now, lets be realistic. There is no legitimate business out there, that can offer interest rates this high, interest free.
Jacob Cardarelli is the founder of Crypto Centric, the bitcoin and Blockchain education centre as well as regular author on Steemit and YouTube. He will be hosting an event December 16th 2017 in Rochester, New York for anybody interested in learning more about Blockchain technology. Tickets can be bought online:
https://www.cryptocentric.club/
Our interview with Jacob focusses on the following:
- Bitcoin and its impact on energy sources
- What new investors in Crytpo’s can do to see successful returns
- His thoughts on BitConnect
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