Bitcoin Forum

Many of us have invested our Bitcoins into the Bitconnect scheme, but unfortunately it was nothing more than a Ponzi Scheme that trapped greedy investors. They shut down their exchange and lending platform this week by giving some funny excuses. Everything that they offered was planned in order to take advantage of those greedy and lazy investors who thought that getting interest of 120% per year without doing any work is possible.

The BCC price went from $320 to just $20 within a week, which is shocking in itself. I really feel bad for those investors who invested most of their worthy Bitcoins into the project. I hope that they might recover from such an horrible indecent that took place in their life.

Bitconnect is still being traded on exchanges like HitBTC, Livecoin, and some other exchanges. However, its value is dropping drastically which is really unbearable by the whale investors of the project.


For further details read the following news article.
https://cointelegraph.com/news/bitconnect-ponzi-scheme-no-sympathy-from-crypto-community

Not many of us,most of us knew about it from the start the structure is like the old-fashioned ponzi schemes,
most of us are clever enough to know which is scam and not a scam.

Greedy investors deserves that they dont do some research before getting involve with these projects.

actually i think what he says is somewhat true. many of us did invest in Bitconnect but at the same time that doesn't mean we didn't know it is a Ponzi scheme. we invested in it as another shitcoin that was being pumped and make a lot of profit from its pump just like we are making a lot of profit from 100 other shitcoins very similar to bitconnect that are being pumped every day.

that is the market we currently have in altcoins. 90% shitcoins and 10% half decent projects that don't even get in the top 10 or 20 altcoins.

Yeah theres no one to blame but themselves,they knew it is a ponzi scheme and yet they still chose to get involve.

The bitconnect gig is over, count your losses ( or profits in the the case of smarter ones) and move on. I believe there were a lot of signs and warnings from well meaning people that were usually labelled as haters for anyone to have opted out.

Unfortunately, this happens very rarely and regulators will come to the rescue who must stop such actions of the funders

Yeah you're right most of us got trapped into that "Ponzi Scheme" even we knew its realty. I really think that we should be honest with ourselves, as we are the ones allowing those schemes or scams to have our investments and allow them to run away with our investments.
I agree with your statement. Most of us are smart enough or you can say greedy enough to take part in those shitcoins that get pumped by the whales, because we want our share, and it really doesn't matters if the project is legit or a scam. But our actions are wrong and self-centered, and because of that we are allowing those shitcoins to exist. If we weren't that greedy then we would never be preys to such fishy projects.

As a senior member of the forum and command this amount of exploratory discussion I expect that you must have read a lot about it and several concerns that have been raised on the issue of its ability to sustain long-term even beyond the forum to the other social media platforms but you choose to ignore because everything looks green and it seems its going to be forever but alas it came without warning that everything is about to go down.

The most important is if you have learnt your lessons because without that, another one will come and you would still put your money there only to regret later. Move on because the coming back of this is likely impossible.

Most of the people who invested in BitConnect did it although they knew that there are large chances that a Ponzi Scheme, but they still chose to invest because they believed that the scam still has a long way to go before it bursts.

The big red flag we had about BitConnect  was that they claimed the funds go into a trading bot that they developed, but they failed to have any proof that supports it, and also, they never had a cap limit for funds raising, I mean, why would you need billions of dollars for trading bot?

I had a 50/50 opinion on bitconnect. Thank God i chose to wait before I invest.

Many of us should be proactive in our write up by warning others before the incident. Bitconnect concept was scammer from the beginning, no investor that did his due diligent will want to stake so much in that project. Any way that is part of the business risk.

I hope most of the people who got trapped with this coin,learned their lessons,never invest in lending programs like this.I warned everybody to get out fast in these lending programs while they still can,no one regrets at first,its always at the end.

I wasnt shock at all when the market price of BCC went down, it shouldnt even have that price at all. Law enforcement should have close the site long time ago so that there wont be a more damage that will be done to other investors.


It will only be a matter of time till it hits 0. The investor of bitconnect were all greedy people and i think they deserve to be in than kind of situation, without really analyzing what bitconnect is or they just blindy look the bad side of bitconnect and just continue with thier greedy. Well some did manage to sell out months ago and foresee that this situation will happen right before their eyes.

We have long warned bitconnect investors not to invest too much there, but they do not listen to that advice, they even turn around accusing us of envy to them. Now everything has happened, hopefully no more people are fooled by a project like this.

I have warned many people about bitconnect scam. They told that profits seem too tasty and delicious, greed killed them. It is destiny of all ponzis. Greedy people eating up and they left 0 to eat.

its the best designed ponzi scheme for me.
I never saw a similar ponzi scheme before. They know how to run a ponzi scheme and they are doing this great.!

The premise of bitconnect is stupid in the first first place. You lend valuable btc and they exchange it for seemingly worthless coins. Also, the timing of the bcc crash seems pretty convenient as bitconnectX surfaced. Unless people stay away from this, they will continue to do this crap.

i think all who participated in bitconnect knew that its a ponzi, but all was too greedy to receive 30% per month and hoped that project will live for 10 years and they will be millionares

I don't feel bad for anyone who lost this Ponzy scheme. Some people invested and got away on time, just make profit form the pump, and it's nothing wrong with it.
But for "those greedy and lazy investors who thought that getting interest of 120% per year without doing any work" I think they just got what they deserved.

It was a risk they were willing to take.. I wouldn't term that as greed, since all forms of investments and trades have certain risks involved.

Dear all
They shut down their exchange and lending platform this week , I lost all off my money i earn in last three year!
So i think! We need careful when invest on lending platform~
So i very sad !

most of us in this community know the Ponzi scheme, though people who don't know how the real crypto works and see bitconnect as easy money will grab the opportunity. i don't believe that bitconect attack by DDoS and have a [roblem, bitconnect reached its limit and no more or not many new investors are coming we all know that the money they were paying out is just from new investors.

In the Crypto world, there is no such thing as earning easily just by doing nothing, that said people who are too lazy to work to earn money invests on a platform that really doesn't necessarily serve any real purpose to help other people. Each and every ponzi scheme has it's own way of persuading vulnerable lazy people into investing to their program and this just ruins Bitcoins image to other people. Before reconsidering investing on a project, be sure to know if it really has a good use and is necessary for it to exist in the long run. I pity those people who invested to such a project that has failed and has turned into a Sh*tcoin.

Glad I did not invested on Bitconnect all this time I was just waiting for them to shutdown their gimmicks.

Life is about risks so it is not surprising. Investors were warned that bitconnect was a ponzi scheme ready to blow up but people were ready to risk their bitcoins to get so much profit.

Exactly, in the world of cryptos there is no way to earn anything easily, it might take sometime to begin earning here, but gradually the earnings increase with addition to new experiences. Investing in those schemes that might alter your emotions by persuading you into believing something that's close to impossible is stupidity.

Yeah, just because of such fake schemes people get scared of investing into cryptoes. There has been many such schemes and there might be many others in upcoming days, but we should be more alert and do our research before investing.


But those who take such risks in their life are the greedy and lazy ones. Taking risks on reasonable projects is somewhat accepted in life, but taking risks on something impossible is foolishness. The ones who invested in it then might be the ones who cry today. We should learn from those people and try our best to avoid such schemes, or projects that promises more than our imagination.

Vitalik Buterin tweeted before that bitconnect is a scam. Their platform you can really see it as a ponzi scheme in crypto world. Still people risk to get an easy money as they get monthly shares for their investment. They are the very successful ponzi in crypto. I feel bad for those who loss their money.  They should have listen to others and to some reviews before.

Surely it crosses the line into greed when you invest in a scheme that you know is a Ponzi (i.e. you know you will only make money by taking it from those who join the scheme after you).