Bitcoin Forum

I had a lot of folks close to me get caught up in this scheme. There are so many of these operations that operate in this typically criminal scheme. Obviously, CC isn't regulated like the NASDAQ or NYSE markets. My question is, what does everyone think of these type of situations? This is much different than a bankrupt exchange stealing money, this seems like a pure Ponzi scheme.

Regards!

I did not invest in this PONZI although some have stated on Facebook that they returned everyone's money. How false or true is this I do not know and I would like to see here if any members of Bitconnect actually got paid back or is this a blatant lie to try to cover their back sides. I think it will be good if the crypto scene is rid of these scams so we can get back to serious price action in real projects that help to solve world wide problems of corruption and inefficiency in many market sectors.

I agree. I did have a few friends get some money back. Apparently they had a webinar today about what is happening with their dissolution and payouts. I do think they wanted to continue but it definitely was a Ponzi-esque scheme. Anytime you hear "we guarantee XX%" it's a Ponzi scheme...

I do believe trading bots hold a ton of potential, and I can see the allure of making tons of money off of them... but unfortunately this how the cookie crumbles sometimes!

From the first I thought this is Ponzi Scheme, but many people like to join Ponzi Scheme because they know will get much profit if join early, I feel sorry for people who is joined and get loss.
I never to join Ponzi Scheme, better for me to earn money from trading activities.

If you participate in Ponzi Schemes than its pretty much sure that you are gambling out your money. I have always considered Ponzi Schemes as Gambling.
It is because that we know sooner or later the program will shut down and run away with our money. There is no guaranteed return on investments on daily basis.
Those who participates, they know the risks involve in it. Still they participates to earn some quick money. But later they gets busted and complains meaninglessly.

Bitconnect is not different than other ponzi schemes.


This is not fully correct. If you had said "guaranteed XX% daily" than it would be correct.
And also people should know how the X company generates revenues to pay back later to their investors. This is very important and people should understand before investing.


But the biggest solution for all about this is to ignore Ponzi Schemes. A SIMPLE SOLUTION!

There had been alot of warning regarding the scheme played by Bitconnect.  I had seen them on facebook group but these people keep on trash talking the one who are concern and exposed that Ponzi Scheme of Bitconnect. Since there is already an order of closure, i believe many investors were caught in this shutdown.  Though I am not sure if the company give back the money invested by these poor victims or probably thay are just announcing it but will continue to operate in secret.  

from the beginning I really did not like what it was called ponzi, although the first generation of them show off the result.

because it always bad for those who join after them.
what happened to bitconnect now is a bad thing for some of my hypnotized friends to follow their program.

there are losers
$ 50,000 to $ 100,000.
I am very sorry to see their fate now.

I have never invested in bitconnect like ponzis. Have seen many types of hyip/ponzi running away before too and bitconnect is also a type of hyip with unstable business model.

There is no any way to catch owners of those ponzis specially when they are only taking cryptocurrencies for deposits. Bitconnect make an exit scam claiming their operation were shut down by government lol

Landing program of Bitconnect is true just use ponzi scheme and ponzi scheme just made loses for new member. Cryptocurrency indeed does not have regulation so that why many people can doing fraud. But actually make investment in any kind of cryptocurrency is the same level of risk because the price so high fluktuasion.

immediately it was clear that this project - scam :-\

Basically the amount of evidence presented and the amount of warnings expressed towards BCC should of been clear its a scam.

Look at the main posters trust

https://bitcointalk.org/index.php?action=trust;u=919758

Basically everybody was warned back in Feb 2nd 2017 and again on July 24th its a scam.

Also 2 months ago Ethereum founder vbuterin also said it was definately a ponzi.

Hence the writing was on the wall the entire time.

I'm glad that I've never invested in this coin. At first I thought this is a good thing, ROI really back in early and almost without working for it. After a lot of research I have done on this forum I realize that this shit will just steal our money.
Now that they are down, people should believe that all lending platform will just get you money.

Glad to give you some answers to your questions. I was a BCC Investor (only some hundred bucks so nothing to whine about).

1) Was it a ponzi?

This is not confirmed. BCC had to shut their services down because they didn't register their company in Texas as they would have to. Additionally, their services were intransparent for everyone and they couldn't occupy what they were actually doing.

2) Did they return Investments to user?

Yes and no. They were forced to do so but at the same time had to shut their exchange down. They returned all investments in BCC - of course the coin immediately got dumped to almost zero value.

And guys, let's be realistic for a second. BCC ran for over a year and has so far paid every single user. If you invested, you could have your money back after about 10 weeks. So basically, one could say it's just a project that failed after a year (like many others where people don't scream "ponzi!").

BTW have a look at POSToken lending platform ;) ERC20 based token with low marketcap and some hype.  ::)

There are many people invested on the bitconnect projects and altcoin. In trading itself they use to mail all the signed up users of wallet using the Google searches with the e-mail you do have on that.
Please do not invest on bitconnect when the value of this increase or its all the projects as well.
I have noticed many reporting that bitconnect is scamming the investors who put the fund on them. So ignore them completely till they goes to shit value.

Ponzi programs always contain risks for investors, so I never participate in these programs.

Bitconnect is a fairly recent Ponzi program, and it has been accused of Ponzi and has been suspended from Lending.

Good thinking but you know something? I have seen people spamming the social media about these few MLM schemes. The only people who make money for it are the owner (scammers) and the ones getting so many referrals under them. Honestly the youtubers who pumped this coin got a good return because of their refs. Seems Ironic and sarcastic at the same time but its how things are - no denying it.

Its has been here for a year approximately? And yes newbies who dont do research on their investments are going to fall for them. Also those lending and all are bullshit crap to draw attention.

I knew it since the fork time that this is going to be big time scam. Here we are now, stole everyone's moneybwho was into it and invested much higher than they could afford. This is not it, they even published their shutting off officially to show that they are not scam or Ponzi schemes as we thinking it right now. But everyone know what really happened with them.

I always think, bitcoin is original stuff and anything coming out of this is just crap which don't last for longer periods than we think. They just come and play with us and get the money out of noob investors. Hope this is lesson for everyone now.

It's a big risk and it will turn to scam in the future so don't invest on it and with Bitconnect, I would say no and with any other ponzi scheme's.

---

Recent? No, since before it's already proven that it's a ponzi scam.

I know bitconect 16 month ago but I try to buy just 10 BCC  ( $15 ) And than Iam to try landing.
but I have get my money 4 month $ 100 more , and Iam so confuse where I get it ?
I don't take it for withdraw , because it is not my live style on crypto.

right, I often see twitter updates from vitalik bufferin about ponzi scheme from bitconnect.
but other users only think of the easy gains they get without thinking about potential losses behind them.

I think ico products with lending offer that crowded out after bitconnect is the same thing.
What do you think?

Very sorry. But this is a real lie. BitConnect simply took money from trusted people. I Hate schemes Ponzi. A lot of people suffered from this dishonest business.

Good thing that I didn't fall into this trap. Although it's a good thing for early investors and whales who are cashing in and cashing out early of their profits. However, for those of you who are holding on till the very end, it'll be a painful lesson for you.

I have a video about "Bitdisconnect". and you can watch it here about what I have to say about them and "making fun: of them a bit: https://www.youtube.com/watch?v=jVf4XdkVA4M

When it comes to lending programs, invest what you can afford to lose. Give it at least 5 to 6 months before cashing out your money and let the rest figure out how they can cash out after that program receives cease and desist letters like Bitconnect does.

Expect other lending programs (DavorCoin, Areszcoin, UCoinCash, Regalcoin, etc.) are built not to last. My advice is that you should cash out early before they receive a very bad news.

I also knew people who invested into Bitconnect, and they acknowledged that's it's Ponzi scheme, Pyramid, but hoped to cash out before it fells downs.
I didn't follow recent Bitcoinnect news, so it's over for sure or might restore?
In general I think such things harm cryptocurrency world, as some people consider them as cryptocurrencies (i.e. Bitcoinnect is listed on Coinmarketcap) and transfer then negative attitude towards all cryptos.

My many friends invester into the bitconnect.they always told me to invest into the bitconnct but I never did it. i asked my all friends about their investment and they all told me that they give their investment back into the BCC coin.they said that BCC just shutdown it's site but they can trade BCC on many of exchanges.And now the price of BCC also increasing so i think we still can't say that bitconnct was ponzi skim.

It surprising to see that people always fall for ponzi over again and again.  There is something about human greed that will never resist easy money!  One must knows these scheme and avoid them at all cost!

Click here https://bitcointalk.org/index.php?action=trust;u=919758
Do you see that little red "DO NOT INVEST" warning written by cryptodevil? A year old warning?
Followed by new 6 months old "Ponzi scam" negative rating.
I guess some people really need to lose money to believe trust ratings.

Sooner or later everybody gets caught in some Ponzi scheme - no matter how many people try to warn him. It happened the inevitable.

I bought this coin when the price $50 but when i know the price of Regalcoin drop alot, so i decided to sell all my Bitconnect coin. All lending coin only use ponzi scheme to pay profit of lending program, and finally they will scam. To many fraud in cryptocurrency market and could be regulation will help this situation.

BITCONNEEEEECCCTT!!!! They were warned many times and the masterminds like Trevon James, CryptoNick, RYan Hildreth and Craig Grant should be blamed for all thousands that get scammed because they made bitconnect more famous and mislead/trick people that they'll get easily rich with these lending coins.

It's already over the lending service is closed the exchanges and wallet remains from the site. They're having an ICO with their new coin called bitconnect X and they accept bcc to make the price of the coin less worthless but I don't think it'll help get the price back to where it was before. The news about bitconnect can be easily found online.

The funny thing is I had recently started thinking about putting money into Bitconnect after watching a YouTube video where someone explained that you get interest just from storing coins there. I thought this could be something worth doing. I’m glad I didn’t invest. I am very cautious these days after losing money on the Cryptsy exchange a couple of years ago.

Century fraud has occurred on bitcoinet. Most of the coin lending, after a period of interest, will cheat and disappear, making investors lose money.

From the start, many know already that bitconnect is a ponzi scheme but we can't do anything for those people who invested there for the sake of profit. Now they will blame themselves for investing in this shitcoin. Many had said that this is ponzi scheme already from the start.

That was close for you since if you push to put some money their you will surely be one of those crying babies who shout for their floating money of bitconnect lending disappearance and you can call them done since if you look the current volume of their coin you will see that their volume is slowly draining, maybe it is the dev of bitconnect doings that why we can see it slowly dying.

Bitconnect saga is not over yet.  I think they are planning serious come back as we know cryptocurrency,  failure is not permanent neither success.

If there's a refund happening on their side well I believe that they will do a serious planning of their business and this Ponzi scamming is not hook by failures of cryptocurrency since this happening of bitconnect events are done by the dev itself. Try to look on what's happening of their coin it is slowly dying and do you think people would love to see that? I think no since the real scenario will be happen for now is they will throw out their BCC hodl.

Everyone blind with his dream, the desire to earn money the easy way is a bad culture. I feel that everybody wants money and they forget the risks.
Everyone wants to get rich instantly and this is the biggest mistake.

I think that many were fooled because they were unaware that it is a Ponzi scheme. The thing about Ponzi schemes is that it doesn't even look like a scam in the first place. Also, the promise of great profits and returns has blinded people from seeing how risky it is. Red flags such as the guarantee of large returns should be looked out for before making any investment.

I really feel bad for the people who were victims of this scam, and I hope that they get compensated in some way. There's no authority available yet in order to have some remedy for situations like these.

when the authorities regulate the markets, they will go and see what has happened and some will fall down.

Well the difference now is if you did a quick google search on bitconnect you would have seen countless of warnings that it was a scam. Or people were to lazy to do some decent research or they ignored every red flag around the project.

Right. From the very beginning it has ponzi smeared all over it already. Though of course those that entered early probably were able to make profit, given that they were wise enough to exit with their profits. And here. Comes the bitconnectx ico lol. Who would seriously consider investing there again

Actually it was not a ponzi scheme and also payed a lot for investing in their platform but due to the ddos attack and the pressure from government of certain countries, bitconnect had to close its lending and exchange platform. It was not actually wrong from the side of bitconnect and also they returned the amount invested with their BCC coin at a rate above 350$ but the price for that coin was immediately dropped to 18-20$ which actually gave a huge loss for all the panic sellers. Holding that BCC coin will also be profitable for long term because the price for BCC will surely pump back to normal.

I have a friend as well who invested in this kind of Ponzi Scheme despite of my warning about this they still take the risk and now regretting that they did not listen to me and regretting they have invested in it. Some would really take a risk in a different way just like this one, they wanted to have an easy  money so that they can achieve their desired dreams in earning, well marked this a lesson for everyone.

Even i feel so because already they returned the amount invested in their platform with the help of BCC coin. Everyone who got the coin sold the coin immediately and because of that the price for that coin came much down i guess but bitconnect will surely come back as failure is the first step of sucess. If bitconnect wanted to do a exit scam then they would have never returned the coin but even with their upcoming ICO i.e bitconnect thy can start some good lending platform again.

Hope bitconnect comes back as already a huge number of bitconnect lending platform users are holding their coins to expect a good price of the BCC coin again.

Some people are still very obsessed with Bitconnect, mainly because of the referral program.  had so many people spam me their link on Facebook, which s one reason I avoided it with a barge poll. If people got their money back good luck to them, as I hope no one lost out but to be honest, it can never come back and be as it was and many people warned of the ponzi like element attached to Bitconnect as a whole. I hope members here didn't lose any money in it.

Hey guys,

Obviously some of my folks have already got their money and luckily that I told them not to reinvest as they did like to earn more from this scheme then suddenly they fell off last week which made people realize this is purely Ponzi scheme.
The point is why it just has problems in Texas and North Carolina but not other states in the U.S?
I have refer this forum to people who would like to learn more about cryptocurrency. And it seems that BCC scheme is aiming at people who do not know much about English to discover information of blockchain and other kinds of cryptocurrency which do have more practical application in life.
I think it's good to have moderator of every languages to run this forum for people around the world to have more opportunities of learning about this sound-like-new innovation.

I asked my friend who was in Bitcoinnect, and he managed to sell everything, but it took time, and more or less he came out without a minus, so with a smaller minus.
Apart from the fact some people lost money, others lost time. It would be much better to invest in crypto you like, or in some ICO (if you liked the project), or just keep your funds in BTC.

Whatever the ponzi or what, we also admit that they have tried to build a lending platform with the powerful development of the Bitconnect community for more than a year.  :D :D

same with you, I think many have already known that bitconnect using a ponzi scheme, but they still do both. and I think they are interested with bot system of trading, which is owned by bitconnect.

with the bitconnect as ponzi coins we must be more careful in choosing the coins in the future so as not to get ponzi. bitconnect already shows signs of being a ponzi coin when some time previously seen a suspicious movement. so we should be wary of ponzi coins.

Before the news from bitconnect about closing the lending and exchange platform, the bitconnectx ICO was highly considered by everyone but now due to the closing of bitconnect lending platform, everyone is trying to skip that. Also the early ones have a good profit always because the wise entry and exit gives them a huge profit.

In bitconnect lending platform the invested money was been locked for atleast 8 months and the ones who removed their capital in 8 months along with their profits were the luckiest ones because bitconnect was really a great lending platform with really good interest rates.

Actually there are several news about several project claiming that they are scam but for us, it is hard to trust each review and check whether it is genuine or not. Actually bitconnect was really offering high interest rate which indeed drew the attention of several investors and also several investors invested into the project in huge amounts.

But even now the investors did not had a complete loss because bitconnect returned the coins invested in their platform and the price for that coin can surely rise up again. Also perhaps bitconnectx can start some good other platform which will lead all the users to gain attention towards their project again and the coin will eventually start rising up again.

Those offers make them more shady and many people got questioned their proposition for having that and looks like they where right for accusing that BCC is ponzi scheme since lately they show the sign of running and their coins price drop so badly which makes their investors and token holders lose their money. And I can't trust the BitconnectX since I'm sure that it will be another ponzi scam and stealing money will continue if people would stake and trust them again.

It is obviously a scheme and for those who invested later on have a huge loss but for those that got in early have a huge profit. I believed those who joined late probably have a feeling that their money could be lost but still they continue hoping to earn even a little. There are many bitconnect-like coins emerging nowadays so for those who already have experienced in it might consider investing again especially those that joined in early days but for those who has bad experienced with it might not join again this kind of investments.

He is still alive and shilling on youtube
https://twitter.com/TrevonJB/status/967656936643743745

Even trying to make himself out to be the good guy by warning and going after other shillers himself. :D

I think steemit where he started all this shilling in the first place froze his account a week ago.

In reality every human system is a ponzi scheme especially the financial aspects. You should not expect every too things good to be truth to last forever. We are having cryptocurrencies markets for the first time in the history of humanity and you should not expect things to be fine from beginning. Bitconnet is one of those things that we should play smart and get out as fast as possible.

of course when you pay to your previous investors from money received from your next investors it is possible to exist for a while :)

but where is the benefit for the market as a whole?

Well, there old Swiss or USA banks which exist hundreds years.
Are they also ponzi schemes?

I believe every human systems aren't the same as Ponzies. Legit people won't scam others, even if their businesses don't do well. It's true nothing last forever, but it's not because everything is a Ponzi scheme, but because it's how things work, constantly changing, but we expect it keeps changing for better and not for worse. And in this case, better than getting out the scheme faster as possible, it's to just don't join it.  :D

I think almost investors in ponzi know that it's scam right at the start but they still fell into this trap cause they're too lazy to work for money that why these kind of passive income seem very attractive for them. Beside  after invested in this kind of investment, they often have to pray everyday for it to make it live longer. LOL. I never wasting my money by investing in ponzi.

In my situation if i do see or observe about a thing that it is a Ponzi i wont bother to make engagement with it and i do pass directly without any hesitations or doubts but yet there are still people who do risk specially when we they are still on early phase which they can really make out profits and we know ponzi structure that to those people who are on the top are the ones who do make some serious cash.

Bitconnect? Ponzi scheme detected. LOL. There are a lot of people are crying cause they lost a lot of money by investing in Bitconnect without any knowledge and exprience about cryptocurrency and blockchain technology :)). They're too lazy to learn, too lazy to spend time and their intelligent to work to earn money. I also warned my friend to stay away Bitconnect and all other lending coin but they still invested their money in Bitconnect and for now they're asking me how to take their money back. LOL

   I see that you are posting this everywhere! Why are you doing that and in who
is behind? I checked in your previous comments that some other members have
suspicions too, but I did not find you explanation in who`s name you operate.
Can you clear for all of us who are you and what are you doing? What is the point?
   

   You are right! I saw warnings about BitConnect long time ago! Everyone who
comes here and spend some time to read what some people have to say should
have known that this is a scheme. Same members are laughing and they wonder
how this scheme lasted so long, they expected this crash to be earlier.
   Situation is funny, people accuse Bitcoin for their stupidity! People should
read more, not just to run for some fast money promises.

I'm so happy that I stoped a friend to invest 10k in Bitconnect. I don't understand how some guys didn't realized it is a scheme  >:( There were several investigations circulating on youtube

Rather there are many scammers on youtube promoting them via their referral links. If you go to any shitcoin pumper on youtube you will see their referral links everywhere and many of the were associated with bitconnect. Their job is to get people into the coin and  then act like a scapegoat in front of the followers when questioned about their loss once the site shuts down. Pretty nice way to act innocent and clear your name. After all the amount of brainwashing these scumbags do on youtube twitter and reddit is enough to keep the trust of their followers steel strong.

I dont understand why people have to be so lazy and not do any research before investing.

All lending coin is only use ponzi scheme to pay profit to the their member and now all of them is closed, so always becarefull when investing money in similar project,and others all investment company that offer monthly profit because all of them just use ponzi shceme.

Is there even anywhere on this forum that bitconnect was discussed and most members of the community did not raise a red flag. However, the thing is, no matter how much you raise a red flag, those who have color blindness will always see green and fall for the go ahead trap, when all indications of something being a ponzi or scam has been shown. Those who have color blindness are those who are just too stubborn or looking for quick bucks.

this happens upon desperation,thays why never engaged in crypto if youre badly needed money,because all of the opportunity that comes to your way that promise a good income will surely grabbed.and at the end of the day,failure is what you have earned.better be here if the purpose is to learn ang earn.in that whay your vulnerability wont occure to greediness

Mahority of the lending site and icos were are seeing now will not exits in the next six months and we should not over invest in them more than we cannot afford to lose in case there are close down. I have tried to control myself not to invest in any of them and I am working hand to keep that plan as I have lose serious money.

Well, they are too greedy to receive easy money without understanding the concept of the project. A lot of news on bitconnect before that its a scam yet people are keep on investing well you friend are lucky enough, he should treat you some coffee for that one. The next time you will encounter this kind of project make sure to do the right thing, keep yourself away from shit like this.

how btc can be ponzi i dont understand . okay bitconnect was ponzi and alot of landings was ponzi i invested in hmb and ecomcash 300$ each and i got nothing becose its ponzi and they just scamming ppl nothing else , from crypto and btc iam earning from ponzi iam loosing , so iam not understand why btc is ponzi

As obvious you invested in hyip like as you said ecomcash that scam your funds. You should explain yourselves when you had your statement that btc is ponzi. Many got the attention of bitcoin because of the opportunity given to us to earned money but it cannot be as ponzi scheme. For that made some research about bitcoin so you can understand and give good feedback.

some years ago i lost some bitcoin in these ponzi schemes , and i would never get through another again , ponzi scheme would always fail , because it doesn't produce any thing , i knew bitconnect would fail coz i had experienced once .

Not learning is not even an excuse, there are just somethings that require common sense, but obviously, since some people always like easy money and the easy way out to things, they would rather stick with ponzi, and even those who may have some reservations, after hearing good news from some early adopters, they opt in too only to end up being the scape goat. Worst part is if another platform like bitconnect comes up, I won't be surprises seeing people joining.

Unfortunately, the top tier of the BitConnect scam haven't been found, and their identities are still unknown even though they pocketed most of the money.

Looks like only the second tier (famous shillers) of the ponzi scheme have been caught.

Everyone who's involved to this ponzi project should be caught to face their responsibilities, I think the main people behind are too good to hide their
identity, and only those who really loves to take some easy cash has been caught because they are the real front man of the business, too bad for those
who invested and got scammed, lesson learned from taking part of easy money project.

I day i decided to invest in Homeblockcoin and bought this token for 10$ and invest in landing 300$ - 30 tokens.
First days all was good and i earned 120$ for 4weeks. After this tokens goes to 2$ price and now its 20 cent price :)
I don't open this website at all because its full shit .
I strongly don't recommend anybody invest in ponzi like bitconnect hbc and same landing project's.

Since from the start i have spotted out that their system was already ponzi which do really make me hesitate to invest and been warned out people since from the start that lending scheme based projects wont really able to sustain for longer runs and im not really mistaken which it really comes to a point that they do become scam in the end and people who do invest on peak prices do really suffer such consequences as of now.

$10k would have been a whole lot of money to have lost in a scheme. Funny enough, I was speaking with a guy recently who loves investing in ponzi scheme and he gallantly told me it is not like he does not know these are ponzi, but life is all about risk. Seriously ?

Life itself is a risk, and not being calculative puts you in more danger, but I believe greed has probably shut some people out from the real world knowing that nothing good comes easy.

This guy has been moving everywhere spreading his scam or probably just some members of bitconnect looking for more gullible people who are bag holding their shitcoin to pounce on. I wonder why he is still roaming the thread anyway without a red, or why he has not been banned for spreading an obvious scam. Anyone who falls for this, after all that has been said and done will most definitely need to be flogged.