Bitconnect Challenge – Day 90: BCC Pay & More

Here we are, 90 days later on my Bitconnect Challenge. I decided to take on the platform myself and document the entire thing until I got my initial investment back. If you have been following me then you know there have been a few ups and downs, but otherwise things have been good so far. Here is a quick list of my previous posts on Bitconnect for you to catch up on, if you have already read these then just skip to the next section:

Bitconnect Challenge - Day 60 | Bitconnect Challege - Day 28 | Bitconnect Challege - Day 18 | Bitconnect Challenge - Day 14 | Bitconnect Challenge - Day 2 | Taking On Bitconnect - Day 1

90 Day Bitconnect Results

To recap my strategy, I have been converting my payments from USD to BCC and then into Bitcoin. I am not doing any reinvesting nor have I been giving out my referral code, but this may just change after you read what I have to say in the next section... With 0 referrals and $1010 invested on August 5th I have earned $893.04 in USD. 

That is on top of my initial investment of $1010, which I will get back in full on April 1st, 2018 (yes I know how crazy that sounds!). As I said, I have been pretty much converting my USD interest payments into BTC ultimately and a few days ago I decided to move my profits to my personal wallet. As you can see below I moved 0.18259916 BTC from Bitconnect to my own wallet with a fee of 0.0004 BTC (roughly $2.50). 

Just 90 days in and I am only about $100 away from earning the same amount of interest as I put into the program when I started. 



BCCPay & Breaking The Top 10

I have said since the beginning that I would not give out my referral code for Bitconnect. The Bitconnect token breaking the top 10 in market capitalization (according to CoinMarketCap.com). Now sitting in the number 7 slot just above NEO at $1,807,153,726 market cap. I have personally watched the BCC coin go from $75 to now $250. 

Also the new BCCPay service they are getting ready to launch. This is a BitConnect debit card that allows you to load, transfer and spend several currencies for purchases as well as ATM withdrawals. This will put Bitconnect in competition with the likes of TenX, BitPay, Wirex, & more. I think it is a huge move on their part.

Let's Make A 'Stache Connection!

Shea Newkirk

The ‘Stache
Howdy! My name is Shea Newkirk and I have been a Bitcoin supporter since 2014. I am immersing myself in the cryptocurrency world and I decided to jot down my story as things unfold. I am a designer, coder, musician, gamer, father, blogger, entrepreneur & more. Learn from my mistakes and rejoice in my triumphs because the ‘Stache is set to disrupt the crypto world!

Comments

  1. Avatar
    Tim Teig

    Shea/Stache!

    Thank you very much for this 90 day demonstration. This does seem to be, at least for a time, a profitable residuals opportunity. However, I’d like bounce some questions off your experienced perspective, if you have some moments.

    I found this opportunity by accident. I was checking out a link to a YouTube video about a Forex harmonic scanner, when I clicked on a link below this video that took me to an affiliate web page that explained what to do: sign up for coinbase and bitconnect and whatch videos, which I did. My first impressions were very positive.

    However, I then searched the internet for reviews about bitconnect. I found a critical Youtube by Data Dash, criticizing the “unprofessional” website, and, more crucially, that its dramatic value increase would not remain sustainable. He said that this is occurring because lenders and investers are holding bitconnect tokens as assets, and not circulating them like currency. He then claimed that the increase of demand way over supply would bubble up to a crash in value.

    I did notice that of the 28 million scheduled to be released, 20 million are already distributed. To whom and where does bitconnect make its microloans to borrowers. Is it only in Asia, not in the U.S., Canada, or Europe? I was encouraged by your revealing that Bitconnect has plans to grow into other kinds of service.

    If bitconnect keeps growing, do think it will eventually issue tokens beyond 28 million?

    Final observation, I did see the ostentatious video on the bitconnect.com site of top affiliates being given multi-thousand dollar sports cars, which betrays a little of pyramid scheme impression.

    Will this motor keep running at least for another 249 to 299 days?

    Thanks for stomaching this long comment and questions.

    Tim Teig

    1. The 'Stache Post
      Author
      The 'Stache

      Lots of questions here! Let me go one by one:

      1. Bitconnect is a risky investment. It may very well be a ponzi scheme, but it could also be something totally new that actually works. That is why I decided to gamble and do this series and do it truthfully.

      2. They will never issue more then 28 million tokens. They would have to fundamentally change the code or “fork” BCC to do this.

      3. With the large market cap and supposedly new products in the works, I don’t know that it is going anywhere soon, ponzi or not.

      4. 299 or 249 days is a LOT of time to lock up your capital. I actually have a new post that will go up on Friday marking my 105th day with some BIG news. I also might recommend going another direction all together, and I have a post coming about that next week. Stay tuned! Always do your own research before investing!!

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