Bitcoin Forum

bitconnect a former top 10 coin from UK until recently was worth over 400 USD

now its down, and worth still around 43, but the question is for how long the website is down, and the team abandonded their service

anyone here that was involved with bitconnect?

regards

I have long thought that bitconnect uses ponzi scheme. But when I say that, I am always attacked by lovers and bitconnect supporters. Now the situation has changed and has been proven, his position has dropped to rank 91 and the price to $ 43. Somehow the future of this alt, whether it gets worse or vice versa.

This has always been flagged as a ponzi.
It is greed that attracted so many to join, and maybe some ignorance.
Now that the trend has reversed , the ponzi cannot be supported anymore.

there is another factor you missed, its the i have to support bitconnect since i have invested into it. sectish investor behavior, this is unique to currencies, and not observable in that intensity in other assets like stocks

It will be down for good,it received cease and desist in the U.S,thats why the founders look for a good exit like what ponzi schemes do.

Their timing was too perfect so most likely they exited before regulations got to them.

It was well known to be a Ponzi, but the actual crash is probably due to the fact that it has been forced to stop, as you can read on Bloomberg:

https://www.bloomberg.com/news/articles/2018-01-16/bitconnect-closes-exchange-as-states-warn-of-unregulated-sales

BitConnect was a ponzi scheme right from the beginning many people knew this but some youtubers spammed with BitConnect that it's a legit site. Though many people who were invested at the begging made money but newbies who started to invest now are getting burnt.

It has finally happened. It is quite satisfying seeing the youtube shillers be proved tragically wrong on this. I feel sorry for the followers who have lost money but come on bitconnect was a joke, they were warned enough

https://www.youtube.com/watch?v=kbR1SXIje1U

but i saw some much older youtube videos where the ponzi scheme was pushed actively

I think people thought  in Bitconnect cash is Bitcoin Cash. Now they might realize the Bitconnect cash is not bitcoin cash

its the same in the end, an encrypted token that belief has been put into it


seriously watch this https://www.youtube.com/watch?v=kbR1SXIje1U

who is this guy that shouts bitconnect in this video anyone knows him? i have some certain suspicions about him

you cant create a currency friendly.... with smiles and laughters, thats just not the way, but they trapped a lot of african americans and other non western immigrants into it. thats what i at least see

Bitconnect mistakenly thought by other as bitcoin cash because of BCC symbol. Also many people prefer fast ROI than searching and investing in the right project

Most of the people don't do an appropriate research before buying a coin, they either follow the hype of the give a fast glimpse at the price and supply and they buy without knowing what they are getting in their bag.