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I imagine that this post will annoy many people. Try to understand, I too fell into the trap, luckily I did not lose!
I have to say that I'm very hurt about people who lost their money in these things - Bitconnect, Usi-Tech etc ..
the first video I saw about BitConnect was by someone in Israel.
I confess I have one of the first YouTube channels in Israel that talks about digital coins
My first video and a few more were on BitConnect!( IOTA, NEO, EOS, STEEM ETC..)
Very quickly people started to warn me,
I must say I do not understand anything in the financial world! My knowledge is over in supply-demand and resistance points, Fibonacci corrections and... that's it lol , most of my knowledge is in technology.
I saw this BitConnect model and saw that they were paying me for the $ 700 I put there daily.
I said if I put MY money there then why not bringing peoples under me with referral links, I saw that everything works smoothly, why not? I'll even give them 50% percent of my referral rewards(lol).
Suddenly videos on BitConnect like mushrooms appeared on YouTube!
1% a day! Too good to be true, It's a scam, It's Ponzi scheme ( I didn't even know what Ponzi is).
But I told myself (really innocently) if Bitcoin raise up by hundreds of percents, why can not they pay one percent a day? And it's not that they commit to 1% a day. There are days of 0%.
with the amount of money that they got they can build a good trading bot Like
"Gunbot".
NAIVE!
I was lucky, my desire was to really contribute to people,
There was simply no information in my language about alternative digital currencies.
Someone suggested that I set up a course on Bitcoin in Israel and told me that I had to close the channel because if I have a channel about crypto I am a competitor of our course.(after 40k+ views)
Luckily for everyone who entered under me I told him it was dangerous, with the majority I spoke on the phone(7 of 8) and everyone from Israel, to my great fortune also everyone entered 100 days before it closed so if they did not reinvest they returned all their money back.
I remember seeing a video on YouTube that made me decide that I would no longer advertise BitConnect in any way, no matter how much money I lose now.(I don't remember the name of the channel)
He said something like that
"Maybe there are people who go into BitConnect and really make a profit, but pay attention, probably if it's a pyramid, everyone who comes after you will have less chance of earning and more chances to lose!"
This is the first time I have realized what damage a pyramid can do (naive right?) Or that the money just made me blind - luckily very few people came under me(8) and I closed the channel before the big buzz on BitConnect.
I really made myself blind, I did not even bother to do the simple math.
It took me a few months to understand. Luckily, God saved me from getting people into the trap!
