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RE: Lessons Learned From The Genesis Mining Debacle
Bitconnect to me is going to be the biggest ever scam to hit cryptocurrency here in the next few months. There is no way a company can push out 120% + every 90 days like clockwork. Where they get you I think is they are paying you back in BCC their own coin which they can mine and giveaway at any rate so the value will continue to plummet at some point there will be a critical mass that hits. I would not be suprised if the SEC gets all over their butt soon.
Also Genesis Mining has been good to me and they are still paying their are just delays and then lump sum payments weekly. If anything it actually helps with fees lol I have a rather good feeling they will get their butt in gear and back to dailys this month.
Agreed. Bitconnect makes zero sense with how they are churning out the type of profits they do. I've been trading for 10+ years...and I am a software developer for the past 8 years...and I can still honestly say, the whole "trading volatility bot" is the most ridiculous term I've heard. I'm sure people will profit from the company as that's the way these pyramids work...but the core business makes no sense at all.
As for Genesis...I've only been in for about 2 months...probably the worst time to be in it. My issue with them is more about the operation rather than them being a total scam. They just seem to be making the worst moves they can possibly make. Their plan of action is hugely lacking a proper solution...
...and I know most of the company is operated by math geeks...but the longer they let this work out...the harder the math will be to remedy the current issues.
I'd have to ditto on the Genesis part of your comment, bitcoinflood. They've been "clumping" payouts together for some reason, and I can only speculate why. They may just be trying extra hard to make their stuff "bug proof" or "hack proof", you know, that whole "relentless persuit of perfection" German mentality. I'm hoping and suspecting they are taking the long-haul approach, so I'm being patient.