Bitconnect claims to offer a guaranteed return on investment if you ‘stake’ your BCC for at least 15 days. There is no whitepaper and the way it functions is completely opaque. The obvious answer to how they’re able to continually offer guaranteed returns is that the whole thing is a pyramid scheme. As with any pyramid scheme, if you’re in early enough you can make money. Miss the boat and you will undoubtedly lose it all when it collapses. I can’t say how long this will take. It could be tomorrow, it could be years. If someone can point me in the direction of how BitConnect works then I’ll happily change my mind, until then I advise people to stay away.
Consensus Leased PoS (functions similarly to PoS except users can ‘lease’ their currency to nodes for profit)
Intended/ Current Uses Magic money machine.
- Pyramid scheme. Need I say more?
- If the pyramid scheme doesn’t immediately scare you away then there is the possibility of making profits from this coin. As long as you get out before it collapses.