Nov 16th 2017, 2:38:34
Sorry but that video cannot be more wrong.
"bitconnect has $1.5bn it can pay out to its users" errr no it doesn't, the VALUE of bitconnect is 1.5bn, but as soon as people start to cash out, the demand drops and the value drops. Do you really think they have $1.5bn worth of bitcoin under their control or cash in the bank? Do you really think Facebook as $500 BILLION sitting in its accounts because that is what the share value is worth?
The winners in this are the first to invest, then the first to cash out just before it tanks, everyone else is going to suffer hard to pay for that.
Also that video says it's paying in dollars, but it's making up another currency. You still have to transfer that dollar to BTC to get it in your wallet to then transfer it to dollar for your bank account, they are not paying you directly in dollar to your bank. This makes it more convenient to slap it back in as BCC but you think you're doing well because you've seen a "real" dollar amount.