London News Desk

This has been a hard one to get a grasp on, mainly because I first became aware of it through someone i've known for years, who is indeed receiving daily payouts - but I can't help but go back to the rule 'if it sounds too good to be true, it probably is' - this is no exception. The claims are impossible to be true.The company is calledand where things get a bit blurry are how they've blended elements you may recognize from previous crypto scams, with practices typically associated with legitimate businesses.It's that classic 'trading bot' scheme, the claim that they've developed artificial intelligence in the form of a bot that takes your investment, and it invests it better than you ever could, for quick huge returns.SEO metric analysis shows people seem to be willing to take the risk,! Bitconnect came crashing down in a single day. Before that, they had thousands of members who would all tell you 'they've always paid me, with no problems'.Just like Bitconnect we are looking at an unsustainable business model in the long term. The profits they're guaranteeing are literally impossible for anything but a ponzi scheme. They've posted this profit calculator on their website, take a look these numbers:Showing an investment just shy of $12,000 will pay $657 per day, for 57 days until someone has been paid $36,000 - that's a $24,000 profit in less than 2 months.It's easy to spot the things they're doing which are intended to make the case that they're different from all the other 'trading bot' scams of the past.They show the name of the supposed founder - past scams always had anonymous owners.They're registered as a company in the UK (but so was Bitconnect).They show outgoing payments on their website, so they're paying ....One of the other journalists here at the Global Crypto Press Association, Ross Davis, has covered some of the companies that have been using AI trading on Wall Street for years, because for the last year or so they have been trying to apply their technology to the cryptocurreny markets. When asked him about this he says:I knew 3 friends who participated in Bitconnect knowing what it was, with the idea of making a profit while it was still running. One of those people is the person who showed me this, he calls it thewhere he invests $12k, gets $36 back, then invests $12k of that againThe problem is, he's the only 1 of my 3 friends who escaped Bitconnect with a profit, these companies rely on human nature.people think.After paying out for a few months, people feel comfortable leaving more and more in their hands.Until the big day - when they decide to disappear.-------