Bitcoin Forum

What is your point of view in this issue? I want to know if this is really a Scam. My aunt invested $15,000 in it.

Yes, it was indeed a Ponzi scheme and many people tried to warn everyone to stay away from it so they would not lose their money for the past year. But greed gets the better of people and in the end the scammers always seem to win out over common sense.

Your aunt's money is basically gone. Did she invest in it on her own or because of your influence?

this issue is becoming a trending topic
https://www.ccn.com/bitconnect-shuts-cryptocurrency-exchange-citing-bad-press-ddos-attacks-regulator-scrutiny/

In the first place bitconnect is already a ponzi scheme but they still want to invest into it , now a lot of bcc members are crying of what was happened, bitconnect preparing for a shutdown.

Are you sure that it's really your aunt that invested that amount to bitconnect or you are the one that did that mistake and you are just pointing out to someone innocent?

Well let's get on this straight. No one will tell you good thing about this proven scam. Bitconnect is a scam and with their lending platform that's only their front but their whole system is a total fake one.

$15,000 is no joke and what price did your aunt entered to bitconnect? I'm sorry for your loss you did invested to the wrong platform and it's a ponzi scam.

It was ponzi scheme and scam from the beginning.
Why she invested, didn't she read scam accusation board? All warning signs? High daily returns, high referral share and so on...
Glad it's closed, not glad that people lost money.

Whether its scam or not, the coin is gone and it would never resurrect , they returned initial investment when coin price is already a crap. I was involved but am glad I already earned the money I put into it(even more than it) which was a small amount. I learnt my lesson tho and am staying away from all these ponzi and lending platforms forever.

if you analyze closely, they are not that scam at all because all the money you got in there are all converted back to bitconnect coins and these coins can be withdrawn or trade to other cryptos, the problem is the value of the coins itself crashes down. the only way to get the value for your money is to hold until it the price reaches somewhere in $300 to $400.

I think that this is another Scam, the more warning you all already for a long time

from what i know they were constantly under attack from hackers using
denial -of-service attacks[I think].

Everyone was refunded their initial investment in bitconnect currency
which is still in a bit of turmoil and is climbing back a bit.

I wasnt invested with them myself but a friend was and the above is
the case according to him.

It was a scam.
There were few posts that BitConnect is a scam.
But people did not see those posts or they though it is not a scam..

I don't think your aunt can still recover her investments if ever she got awakened from this ponzi sheme so I'm sorry for her loss. Follow credible youtubers like Boxmining because he is more technical so next time you and your aunt will not get scammed by the likes of bitconnect and always stay from any lending investments.

This is already a saying, I'll listen to the majority opinion and think that it is a Scam. It is better not to participate in this scheme

There is nothing to be analyzed. There is no problem with value because there isn't any value and there isn't any way to get your money back that shit is never going to bounce back to 400$.
Face the reality, that was ponzi scheme and it collapsed. Period.

Bitconnect is a ponzi scheme for sure. The only thing is that it is managed very well and therefore still running. I have heard that Bitconnect is launching a new project, BitconnectX. Usually this kind of behavior suggests that their original funds are decreasing and so now they need a new product to increase the incoming funds flow. If I was in your aunt's place, I would have surely withdrawn my funds.

Bitconnect is now signing off. Those who invested lately accept the fact that bitconnect is a ponzi scheme, like what they say onoy invest what you can afforsd to lose.

https://www.sec.gov/fast-answers/answersponzihtm.html

"What are some Ponzi scheme "red flags"?
Many Ponzi schemes share common characteristics. Look for these warning signs:

High investment returns with little or no risk. Every investment carries some degree of risk, and investments yielding higher returns typically involve more risk. Be highly suspicious of any "guaranteed" investment opportunity.

Overly consistent returns. Investment values tend to go up and down over time, especially those offering potentially high returns. Be suspect of an investment that continues to generate regular, positive returns regardless of overall market conditions.

Unregistered investments. Ponzi schemes typically involve investments that have not been registered with the SEC or with state regulators. Registration is important because it provides investors with access to key information about the company's management, products, services, and finances.

Unlicensed sellers. Federal and state securities laws require investment professionals and their firms to be licensed or registered. Most Ponzi schemes involve unlicensed individuals or unregistered firms.

Secretive and/or complex strategies. Avoiding investments you do not understand, or for which you cannot get complete information, is a good rule of thumb.
Issues with paperwork. Do not accept excuses regarding why you cannot review information about an investment in writing. Also, account statement errors and inconsistencies may be signs that funds are not being invested as promised.

Difficulty receiving payments. Be suspicious if you do not receive a payment or have difficulty cashing out your investment. Keep in mind that Ponzi scheme promoters routinely encourage participants to "roll over" investments and sometimes promise returns offering even higher returns on the amount rolled over."




so bitconnect fulfilled every single criteria for a ponzi scheme. and it had the courtesy to prove it as well. i feel for anyone who lost money but i'm also disgusted at them for being that blinkered and dumb.

Of course it is.
I feel sorry for your aunt. You should've know that it was a scam.
How can you get 1% per day without doing anything?

It is a scam,
They were doing fine with the transaction fees made and etc they could payout but they blame the community, press and government for making the reputation bad so they decide to refund everybody with their investment but they refund at the price of $300++ / BCC upon doing that the price of BCC flew to $10 within minutes, probably they informed top promotors / VIP and all of them.dump those coins and eventually making the price went to $10 and I was unlucky I woke up after the dump and saw price of BCC at $10 so my investment of $580 went straight to $15 or so. So what can I do with those tokens just stake it 1.5BCC kinda a joke but overall a good learning experience, from now on I would not promote anymore lending platform and everyone who wants to invest into lending plaform do your due diligence... Getting in early is a good thing they may make u rich at the start when it's time to pull out, just pull out and you will never regret. 1 time experience is enough.

I don't know, but it was already exposed already as a scam before by some members here in the forum. But I'm sure that we wouldn't thought that initially and its too late because they just suddenly disappeared. But I saw one thread that they are re-appearing, so its really troublesome to hear that they are going back to scam more people.


They have nothing to blame but themselves on the mess they have created. They are very trusted but just like you said, those who got in early made a good amount and exit in time. Really a "healthy" experience but it comes at a high cost.

Very regrettable mode.. this seems to be mostly done by people who are not responsible.Crypto is used as a fraud tool to ruin a good name.Members are always used as tools and become victims. ???

this is the end of the project that implemented the Ponzi system
does not last long, many parties are harmed, not useful and already planned by large investors and developers

How much is the price of bitconnect when your aunt invested? Damn, that's a big money and your aunt's palm is already on here face now. How did your aunt come up investing to bitconnect? Did someone from her yoga mates asked her to invest because they made money from it?