Episode Highlights:
- 00:01 – Introduction
- 00:30 – My Bitconnect Journey
- 03:06 – Reinvesting In Bitconnect Platform
- 07:46 – Referrals
- 10:02 – Mixed Feelings About Comments Received On Bitconnect
- 15:29 – Subscribe To My Channel
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Transcription:
00:01 – Introduction
Hey guys! What’s up? It’s Dan again from cryptocamacho.com where each day I teach you something valuable about cryptocurrency. Today I’m going to talk about Bitconnect. I’m going to talk about my recent journey on Bitconnect and my recent loan to the platform and let you know how it’s going. I wanted to focus today on specifically the nuts and bolts of Bitconnect. How much have I loaned? How do you reinvest in the platform and how am I doing on referrals. There are a couple other things I’ll touch on but those are the main things I want to get to today. Let’s really jump right into it
00:30 – My Bitconnect Journey
I am on day four of my Bitconnect journey about four days ago, November 15, I loaned $1030 to the Bitconnect platform and every day I have been recurring interest. Every day, to my lending wallet in Bitconnect, so I gave them $1030 and each day they’re paying me back in daily interest which you can see up here in my lending wallet. Already four days I have been part of their lending program and I’ve made $52.53. Not bad. Let me show you how this actually works, let me break it down for you. If you go down over to the transaction section here and you go over to your lending wallet. You’ll see all of my transaction history on Bitconnect.
The first thing I want to show you is the loan amount. On November 15th, I loaned $1030 to Bitconnect and then every day after that up until yesterday, today’s payment hasn’t come through yet I have received interest, every day and the percentage of interest I have received changes over time because of their volatility software. If they actually do have a volatility software, which they talk about the interest will fluctuate daily depending on the volatility of Bitcoin and depending on how much the bot actually makes. You can actually see over here on the very first day I made over here I made only .58% daily interest on that $1000 not a whole lot, right? It was about $6 and then though the next day I actually made 2% which was pretty good. Four times the amount $21, right? This kind of keeps fluctuating back and forth but you can see overall I have received $52.50 not bad, yeah [clapping] I am happy about that. On day four it’s nice to see some income coming in after giving out some income unto the platform. It’s nice to see the income coming in.
Now what I would like to do, I would actually like to reinvest this $52.53 I would like to reinvest it into the platform. Let’s go back up to the dashboard here for just a moment and if you scroll down to the bottom of the dashboard something I want to show you real quick. It shows you your total investment, your active investment, your total capital released, which my capital hasn’t been released yet because I have 235 days approximately until they release capital but then they will show you exactly how much you have earned. I have earned $52.53 from a lending platform. I haven’t received anything from the affiliate bonus yet and I again total earning fifty-two, fifty-three.
03:06 – Reinvesting In Bitconnect Platform
Let’s go back up and let’s go ahead and reinvest in the platform. Let’s click reinvest and that will pop up the reinvesting screen which will bring you to your lending wallet which I have fifty-two, fifty-three. I am going to go ahead and reinvest all of my interest, the fifty-two, fifty-three plus any leftover amount that I have. It’s going to invest in increments of 50. It actually reinvests in increments of 10 so anytime you do a reinvestment you reinvest in increments of 10, then it saves over the difference the 253 or whatever the difference maybe under $10 and then it will put it back into your lending wallet. Anytime you get to $10 you can go ahead and reinvest in the platform.
All looks pretty good I’m going to go ahead and reinvest and it’s asking me to confirm. It says: keep in mind that your capital will remain locked for 299 days interest will be credited to your account daily so you can withdraw at any time. Now, what it’s going to do is it’s actually going to reinvest this $52.53 and it’s going to give me daily interest on this $52.53. Each day I’m also going to receive interest for this $52. It’s going to be small but every time I compound my interest with my original loan of $1030 and then any time I receive daily interest and it gets to a point where I want to reinvest, it will actually give me compounded interest on that.
You can actually see how this can add up over time. You invest a thousand you wait maybe, let’s say a week maybe you have $100 after that. I’m already at over $50, so in another few days I’ll probably get to $100 but say you have $100 that you reinvest. Let’s say you reinvest $100 every week. That interest compounds and compounds and it starts to snowball out of control. Maybe in the next video, I’ll show you a spreadsheet, show you exactly how this compounding function works because what actually happens is your account will grow significantly quicker as you reinvest your profits because it’s a snowball effect. Now, not only am I reinvesting $1030 I’m investing $1080 next week maybe its $1180 so forth and so on.
Each week, each day your daily interest will compound and it will grow and each day you will be making more and more and more and more money. The real point is how do you get to a point where you’re investing and collecting enough money to where you’re able to pull out a certain amount every day as passive income. That’s really the goal, to create passive income so that you can live over time and then create a longer-term sustainable income through the platform itself. By investing your capital for a longer period of time. There are two ways to approach this 1. Is to bank on compounding recurring daily interest and keep reinvesting in the platform until you get to a point where the daily passive income is enough or more than you want and you start reaping revenues and profits that way. Another idea or another option is to invest in the platform with your capital wait the 200 days plus and get your capital back plus all of the interest you got over time. I’m going to do a combination of the two to see what works best but with all of that said I’m going to go ahead and confirm this reinvestment. Success! I successfully reinvested $50 into the platform.
Let’s close that now it shows that there $2.53 in my wallet. Let’s go back over to transactions and let’s look at what happens. Go back to my lending wallet and you can see. I reinvested $50 that capital will be released on September 15 of 2018, about 300 days. Now every day I’m going to get interest on this $50 as well. That’s how it works, that’s how the reinvestment platform works and I’m curious to see what the compounded interest will be from just that small $50 loan. You can take 1% of that, it’s going to be 50 cents, it’s not going to be a whole lot of money but every day that will compound and I will be able to reinvest that more and more. Now, let’s look quickly back at my dashboard and let’s go over total earned.
Now my active investment, it’s the $1080 and here is the record of both my loans. My payment from my original loan $1000, my reinvestment of $50 right here. Great! I am pretty happy with how this platform is working so far. It’s very, very simple to use. It’s not very technical so anybody who has a fear of being left out because it’s too technical. It’s not very technical, you have nothing to worry about there and it’s very clean. It’s straightforward what you see is what you get or a little ‘whizzy wig’ if you will. You invest you get daily interest. You invest you get daily interest. You reinvest you get daily interest. So forth and so on. Now there is one more component of this that I haven’t talked about and that’s referrals.
07:46 – Referrals
Referral income. Referral commissions and so forth. So far I haven’t received any referral commissions I just started this program, not a big deal and I’m not even banking on referral commissions that’s not why I’m doing Bitconnect. Why I’m doing Bitconnect is to see how the platform works, to see how the capital program works when you reinvest and really to experiment with the compounding interest. That’s what really is fascinating to me, the compounding interest and how that can snowball and grow over time.
But I did manage to get one affiliate referral. I got one referral and in the last few days since I have been doing this but that referral has not invested any money. Let’s open it up and you could see. I clicked on referrals went over to the referral platform and I have a whole lot here because I haven’t gotten any referrals yet that have put-in any money. I did get one referral. Yeah [clapping]. I got one referral and it was from Andre JCH. Thank you, Andre, for jumping in and what it does is once I get a referral. My team will start to grow. Here is my team right here and my team will start to grow over time. Right now I have one person under me and whenever you click on the link.
This is me for example, it will give feedback of that person and it will let you know how many referrals I have underneath me. Underneath me, I have one referral and I have an active investment of $1080. Andre, he currently has nothing invested in the platform, he has nobody under him, but he’s my first referral so I can’t complain. I’m happy that he signed up. Great! Now I’m going to see how this program works. See how this grows again not banking on too many referrals here but if interested to join my team would love to have you.
Would love work on this together so we can get the best profits as possible [09:33] that’s all I really wanted to show you today. I’m on day four of my Bitconnect challenge. My Bitconnect journey. So far it’s going well, I’m pretty happy with the results, I’ve made $52 so far which I just reinvested and I’m going to let this go and day over day I’m going to give you updates on how the investment is going. I’m considering investing a significant amount more money into this platform. Thinking upwards of 5/10K perhaps, but I wanted first to get my feet wet see how works see how it works, see if I have any questions or anything.
10:02 – Mixed Feelings About Comments Received On Bitconnect
One thing I did want to address on this video is every time I post a video about Bitconnect about my progress, about what I’m doing on it I get a mixed bunch of comments on YouTube. I get some very, very positive comments, a lot of people saying: good luck, great, congratulations, good job and then I get some negative comments. Some people saying: Bitconnect is a scam, it’s a Ponzi scheme, don’t invest in it, you’re going to lose your money blah, blah, blah. I have mixed feelings about that. Because there are so many examples online of Bitconnect actually working really well, people getting their money back, people compounding their interest and making a very, very large amount of money in the end.
But then you get the other side of the coin where there’s a number of folks saying it’s a scam, saying it’s a Ponzi scheme blah, blah, blah, blah, blah. I don’t know what to think and I don’t really care too much, it’s a minimal amount of money that I am investing. I mean $1000 is a lot of money but compared to the grand scheme of things, compared to the amount of money I can make on this platform, if I do it right, it’s pennies. To try out and use a platform like Bitconnect and spend a $100, $200, $1000 is well, well, well worth the investment in my opinion because we have never seen anything like this before in history we have never seen a cryptocurrency revolution like this. We have never seen digital currencies come so far and make so much progress in such a short amount of time and Bitconnect is no different than any other cryptocurrency, any other altcoin and the fact that, it started from virtually nothing and it’s grown into this $800,000,000 market capsized company literally overnight.
And that’s very, very impressive, that’s extremely impressive growth. I think it’s fueled by a number of things. It’s fueled by the affiliates. It’s fueled by marketing and it’s fueled by the fact that they’re actually paying out what they say. They’re actually paying back every day. They are paying interest out on the loans that people are making. Every single day that they’re a user base. Who is not going to be happy with that? When you lend out money and you get money back every single day. Who’s not going to be happy with that/ and you are starting to see videos over and over of Bitconnect releasing people’s capital. That lets you know that many, many people have been on this platform for over 200 days, over 300 days and they have invested large amounts of money. In many cases there are people that have invest 10K, 40K, 50K, 100K I saw just the other day. People have faith in this platform.
It is a little bit risky. I’m not going to lie and say it’s not risky compared to a very, very conservative investment but the upside and the potential to make enough money on here to live on for the rest of your life is very, very high. I think at some point the company is going to change. The company dynamics are going to change. The company structure and how they pay out are going to change but it’s going to last for a while. I think Bitconnect isn’t going to go away overnight. I think it’s going to keep growing as bitcoin grows. It’s going to keep going. I think they have set up their hype program better than anybody else I have ever seen. It’s like a multi-marketing level program on steroids and multi-marketing level companies have been around forever. They have been around for 100s if not 1000s of years, and they grow and they grow and they grow. Look at Mary Kay, it’s one of the biggest cosmetics company in the world and all it is, it’s a pyramid scheme, it’s a multi-marketing company. Bitconnect is no different except that they have digital currency on their side.
They have the digital currency revolution on their side. They have cryptocurrency on their side. Nothing like this has ever happened before in the past. Nothing has ever happened like this and nothing will happen like this in the future. Maybe something similar but nothing quite the same. And right now is the time to get in on the ground level and if in 6 months this goes bust I’m going to make a bunch of money from interest and my downside or my risk I could lose some money but it’s going to be relatively low. For the potential of money that I can make. This is how I am thinking about it so for all of you haters out there that hate Bitconnect that says, it’s a scam that says it’s a Ponzi scheme. That’s fine. Don’t invest in it. I do not encourage you to invest in it. I do not encourage you to take a chance. I do not encourage you to lose your money if you cannot afford to lose your money.
At the same time, I’m not going to go and promote to you, I’m not going to go and market to you and convince you to invest in this platform. If you want to invest in Bitconnect, invest in Bitconnect. If you want to join my team. Great! Join my team. I would love to have you on my team. We’re going to be learning together how this works and in the meantime, we’re going to be making some money while doing it. I’m super excited about this program. I’m super excited to invest in Bitconnect. I’m super excited with how it’s going so far and I’m super excited to keep going to prove all you haters wrong and to show you that, if I can make X amount of money in X amount of months it’s going to be worthwhile to me. If I can learn how this platform works, learn how the business model works, compare it to others and educate myself about it, I’ll be ready the next time something like this comes out.
The next big thing, the next bigger thing compared to Bitconnect. Next time it comes out I’ll be ready go and on the forefront of that. I’ll have context, and I’ll know how these things work. All in all, it’s a win-win for me so anybody out there telling you, you shouldn’t do it. You shouldn’t invest blah, blah, blah. That’s your choice, you could definitely not invest but the amount of education you’re going to get the amount of learning just working with Bitcoins, just buying and selling bitcoin just trying to get your Bitconnect coins reinvesting it learning how bitcoin addresses and wallets work. There’s some education here and I keep telling to my friends. Take $100 invest in Bitconnect see how the whole game works. The upside is massive for a very, very minimal downside risk if you will.
15:29 – Subscribe To My Channel
Anyway, again just wanted to give you that spiel Again I appreciate all the comments that everybody is giving me. If you want to hear anything specific about Bitconnect. If you have any questions about Bitconnect, let me know. Before you leave don’t forget to subscribe to my YouTube channel right there on the red button below but until next time. I am Dan from cryptocomacho.com to get more of this type of information, more on cryptocurrency go to cryptocomacho.com and I will talk to you guys next time. Happy investing. See you guys.
