First of all. The last message Cointellect posted on its official website cointellect.com was back in January 27, 2014. After that nothing was posted. The payout had been halted for few weeks now. Although some new members are reporting that they got paid a few times at the beginning.
Cointellect could have make this work by being transparent. What are Cointellect really doing, no one really knows. However I believe Cointellect started with the vision and prediction that Bitcoin will go up and or cannot go lower than $350 at the time. Unfortunately Bitcoin crashed down to $200 below $200 at one point, but regained back to $200 and been hovering barely between $200 to $230. Even with all the good news, no way Bitcoin will go up in the next couple years to even $500, however there had been community prediction that Bitcoin will go up to $1000 in 3 years, I’m optimistic.
Now if cointellect being transparent about where the money was invested to give back to the members then today there wouldn’t be so much bad negative reviews impact, and in no way in hell cointellect ever regain it’s reputation. No way! it is broken beyond repairable. Think of you car got, new, nice smooth ride daily commute broad you happiness an joy driving, then one day your car got wrecked beyond repairable, meaning it’s crushed – engine cracked in half ignite in fire, luckily you didn’t get killed. Now thing about that, can you repair that car like new again and expect same value if you are to sell it? I don’t think so. Same concept can be applied for happened to Cointellect. Cointellect is broken beyond repairable. Even if Cointellect is legit, but it’s so bad now not possible regain trust, as more and more un-professionalism being exposed.
If Cointellect members knowing at the beginning that Cointellect are investing in development of future technology for Bitcoin, or invest in low price Bitcoin and sell high, then at least the members knew and if Bitcoin crashed members invested in Cointellect can understand the situation. It’s all about transparencies but Cointellect isn’t talking telling what they’re doing with the money members giving to Cointellect.
Now for the Cointellect Mining Pool, no doubt that there was manipulation to the software such as lowering the difficulty level so the hash rate could earn a lot more than other normal mining pool. Cointellect mining pool is just a gimmick to get members in and see the earning, it’s like a trick, so members have the confident to buy contract assuming the profit is same with Mining Contract as mining pool, I mean 100 times higher profit or earning than any other pools, something wrong there.
Now just lately, a lot of members received respond from Cointellect, giving a refund. Well folks, for Credit card purchases, Cointellect will loose the dispute anyways so yeah they have to make it look legit so hope some members don’t dispute.
I can tell you this, based on my experiences with many previous large scale of ponzi scheme scam, such as Coingeneration, IPUservices, and a bunch of other HYIPs, the ending is the same. Some larger scale of ponzi scheme will tried to keep operation running as long as possible, this is to filter out dispute and at the same time giving old members some hope and new members to join getting paid consistently to get some more money in. It might work, and might not. Some users will fall for it, some may not.
The bottom line is, sadly it’s the users or members fault for loosing the money. Those that purchased Mining Contract via credit card, chances are you will get your money back. Those that paid via Bitcoin, don’t expect anything back. Forget about the gimmick of SwissCard debit card recharge payout, just another way of keeping hope up, Cointellect just killing time with those SwissCard whatever you call it, the process would takes weeks and months and in the end those cards get sent out, but Cointellect disappear from the internet. Cointellect is broken beyond repairable, all negative reviews and comments on the internet, it is not possible for Cointellect to regain confident and its reputation, no way!.