Two months after pleading guilty, BitConnect’s national promoter in Australia, John Bigatton, was convicted by the court for providing unlicensed financial advice.
With such rates of return; it's clear they are targeting the greedy and the desperate.
If they have a magical investment strategy that can guarantee 0.25% per day, why would they share money with random idiots? Wouldn't it be easier to get a bank loan and keep all the profits from this magical investment scheme to yourself?
I think that people have a really hard time conceptualizing compound interest rates. $10,010 invested with bit connect at their claimed rates would be $3.1 million after 12 months. But you get your "capital back" after 4 months?
I’m currently playing an awful mobile game that has a reconnect button for when you navigate away from the app. Every time I click I say to myself ‘Reecoonneeeeeeect!’