,
16 tweets,
2 min read
Read on Twitter
Srsly folks, if you're a fan of ground-flooring internet train wrecks? There's still time to set up your lawnchair for BitConnect.
A rundown: Bitconnect was incorporated in the UK via a third party company. No one knows who owns or runs it.
Its listed address is a communal co-working space/"virtual office" in Kent. Their website was originally hosted in Belize.
Their press releases list "Satao Nakamoto" as Head of Development, a blatant attempt to invoke Satoshi Nakamoto, the creator(s) of Bitcoin.
And it's not a Bitcoin trading site; to participate, you buy THEIR cryptocurrency WITH Bitcoin, which you then supposedly "microlend."
No one involved is licensed/monitored. Nothing is regulated. None of your "loans" can be reviewed.
This is... not even elegant.
This is... not even elegant.
But in case it's not already blindingly obvious to you, here are two Bitconnect-produced graphics that should make ANYONE nope the fuck out. 
The first is classic "guaranteed returns, the more you lend the more you make!" crap. The second is Bitconnect's referral bonus structure.
The more ppl you recruit into this system, the more money you stand to make (in theory). And that's where I pull out my popcorn/binoculars.
You Tube is filled with dudes vlogging about Bitconnect returns (which they can't actually withdraw), taking the audience car-shopping...
...and encouraging their viewers to participate in the "$100,000 Challenge" and lend that amount out.
Using THEIR referral code, natch.
Using THEIR referral code, natch.
It's astonishing. It's like no one in the room has ever seen an episode of "American Greed."
And just to make it extra spicy, you'll find Bitconnect users saying shit like "I know it's a scam. I'm gonna make $ now and get out later."
And it's like... what the fuck makes you think you're near the TOP of the pyramid, kid? You literally know nothing about Bitconnect.
They could unplug and do the Red October deep dive TODAY. You're not "in" on anything, you're a fucking sucker like the rest???
Anyway, those're the details. I'm keeping tabs on this, cuz how could I NOT.
