Haha at the end I just heard him say he also has money in Davor Coin (they don't use .com btw but .io) ! Everyone is saying he's nuts for now saying Bitconnect are legit after the first video when he said he lost all his money.

He is even saying he will buy BCC from people selling it now as he thinks it is going back up. Look at the contrast from the first video when he was almost crying: https://www.youtube.com/watch?v=YagUXXtyFn4

haha I'm pretty sure my wallet knows how much it would cost! I am able to choose the fee but the size of the transaction depends on the number of inputs. Obviously, unless you only receive large BTC payments, you will have lots of these smaller inputs that need to be combined for the transaction. I just looked again at the two transactions and one had 55 inputs and the other 51 inputs (I forgot to look before). I don't have a particularly large number of transactions in the wallet,  so I think this is generally what larger amounts would normally cost. Remember the fees were still under 1% of the amount.

Do you remember the guy who said he lost all his money ($30k) in bitconnect calling it a scam (actually it was in December he invested)....now he believes again lol: https://www.youtube.com/watch?v=AR6smW0iJYk  

Something funny from CryptoNick (who charges hundreds of dollars for crypto course videos) I saw in another video where DavorCoin replies.



In actual fact he said 'public key'. He wasn't sure what a public key was. This was probably on some old video of his before he understood more, but I remember seeing it too.

By the way, I highly recommend DavorCoin but they need to slow down their coin growth a bit (it was around $200 at one point after little more than a month - after starting at 72cents in the ICO). It's already half what it was before so that's a good thing for me. Like I said, I have four times as much in DavorCoin as I ever had in Bitconnect.

This guy who put over $140k in bitconnect recently to get $40k a month doing nothing is going mental on youtube about bitconnect now. This video also shows Yurish (one of the main promoters, it seems, who also promoted OneCoin) even talking about Ponzi schemes at the ceremony in October and says 'bitconnect is the perfect scheme' (he was probably thinking of a different word as he paused for a bit) but he was actually implying that he doesn't think bitconnect is a Ponzi as he previously referred to the others being Ponzis but said bitconnect was 'perfect'.

From this point onward is where Yurish talks (but I added the money falling from the sky bit- as it shows how much money they made everyone without even being a Ponzi!!) https://youtu.be/hTZzEct0w_w?t=619


Glenn claiming not to be a Director now from the filing (the addresses and ages were all incorrect, btw)

They might not have a blockchain yet. Even the lending ICOs sometimes only have the coin afterwards.

I was just pointing out that they were telling their promoters to stop promoting it and getting legal advice after the cease and desists before they shut down the lending, as I didn't know before. So possibly they decided they had to shut the lending down. Obviously, it wasn't anything to do with the health of the lending system itself as everyone was happy with it, not least bitconnect with the profits they were making from it. Some people thought the interest was too low as they were used to the newer ones paying more than 2% per day at the beginning such as DavorCoin.

The fact they decided to comply with and stop lending in those states (they were going to refund the loans) doesn't mean it had any merit. Everyone seems to misunderstand bitconnect, that's for sure.

Assuming you are in USA, are you going to stop purchasing in ICOs if it's classed a security? Even Gleb had an ICO. TokenPay was a recent ICO that started with good legal advice and accepted US residents and in the middle of it decided it had to refund all US participants and exclude them from the ICO. It seems that Americans can't purchase in many ICOs and that is nothing to do with fraud.

Some states probably got a lot of people complaining to them about bitconnect but obviously not anyone actually invested in it and making lots of money. So I don't see how you don't think it's your fault for shutting them down.

Seems to still be lots of moaners on this thread. I happened to just see a youtube video (from 14th so before they shut their lending) that suggests they were consulting with their legal team. It also says they already complied with the Cease and Desists so they were doing everything legally.

Click at this time: https://youtu.be/5gkVfuXIR0w?t=256  (it also said they had told the promoters to stop promoting it)

Again, that doesn't make sense. If they were paying less BCC they don't need to use the BCC from others. You basically proved the opposite of what you thought you did and that they actually were never a ponzi. Yeah, I'm gonna stop replying now too.

That only applied to those states not other parts of USA. But they were also claiming that all these coins are securities so any ICO or staking coin etc. would be a security and need registering according to them. 95% of states in America haven't bothered at all.

They banned USA customers from the new ICO in case they get in trouble for selling securities but it's not been tested in any court so far. They were selling out each day $13million worth in the new ICO before but also after they shut the bitconnect lending. Do you think that means the BCC token will be worthless or do you think it will gain some value? They are already allowing people to use it for $150 in the new ICO (non-americans).

I won't bother replying any more as it doesn't really matter what people think. Bitconnect's new ICO is still going to get sold out. I've not even tried buying it yet but probably will in a couple of hours.

They don't deal in any fiat. The value at the time of the loan is what they use to calculate the interest and capital return. As long as the BCC price goes up they can pay a certain amount of interest without even going into their BCC reserves. So they were never a Ponzi. Obviously, if market sentiment changes the price can plummet. Don't people realise that when they buy a bitcoin for $10k, they won't get that back if everyone sells it at the same time? In fact, just a few percent of the bitcoin being sold can halve the price. The lending only operated with the BCC token.

They weren't authorised to deal in any fiat currencies and there are no laws against any of that insider trading in cryptos. The USD amount in the lending wallet is the representation of what the BCC would be worth when converted. The conversion rate was based on the exchange price. The problem they had if they just left it in the dollar wallet was when the price fell due to the news, they would have to pay more BCC for the dollars. They probably would have run out of BCC and would have had no incentive to keep the token price up after that. They instead paid everyone at a fixed rate as it was better for the coin's future not to flood the market with too many. Remember these loans weren't meant to be refunded for many months.

After getting $13 million a day in the BitconnectX ICO, I doubt they would have bothered doing something for a couple of million and being easily found out on the blockchain.

That was from the 17th. The Cease and Desist notices from one or two states weren't very convinving in their arguments for one thing.

He seemed to think BitConnectX ICO was over when they closed the lending. He made it before they offered $150 for the BCC.

Also, remember while I was posting on this thread, the BCC price actually went back up to close to $90 so he could have sold his for $35k if he wanted to then and even maybe for $80k if he was quick when the internal exchange reopened. I actually sold some I'd bought a bit earlier for 4 times the price. I think the coin will go back up eventually.

If bitconnect had carried on that guy would have been getting $40k a month for doing nothing!  They had no financial reasons to stop so it's a bit much saying they scammed people as they never dumped the coin unlike most of these dodgy coins (the price of bitconnect was never suppressed by the devs dumping it as that was one of the good things about the system).

Did you see who put that there the other day? Someone who goes around calling things a ponzi and giving negative trust to people for the same reasons (also runs a dice site which I'm sure may be illegal in some States - even UK are iffy about BTC gambling sites).

I only just looked into his feedback and found he does a dice site. Why is he calling bitconnect a ponzi when he runs a site that has a proven house edge? Don't bitconnect users have to take risks too and only spend what they can afford to lose (I'm sure his site is more dangerous to the average user than bitconnect was - especially the 10% who are always addicted to something)? The BCC token will go back up going by bitconnect's track record.


By the way spotted this feedback about him which seems strange:

OK, I understand what you mean but the banking system works to encourage business. It's not supposed to make any sense as long as it works. It now operates as a bubble just the same way as cryptos. It will keep crashing and recovering.

Interesting, what was they crowdfunding for though and do you have a link? Also, how are peoples lives ruined when they weren't meant to get the loans back for another 6 months at least (if they did the lending in the last few months and were down any money). Yes they aren't getting the guaranteed interest but even that wasn't too much at the top level of 0.25% (probably nothing was guaranteed for most people's loan amounts).

So at least give it a few weeks for the token to go back up in value. You'll probably be ahead of the game if the token goes up to a third of what it was within the first 4 weeks. Expect it to come back to a couple of hundred dollars at least.

Wait a second. You do realise bitconnect paid everyone at least 30% (non-compounded) every month of their loan amounts for close to a year?? They then stopped the loans and refunded the BCC at the rate they thought was reasonable (average of last 15 days). Bitconnect lending was nothing to do with BTC. They didn't need to have the exchange on the platform or even any BTC wallets after the ICO, and people could have bought the BCC on other exchanges. What else are they meant to refund people with lol.

Anyway, you must understand most people made lots of money on bitconnect and it gave them a steady income while it was going on. The token price will probably recover and I'm sure they will think of something else.

To suggest Trillions of USD disappeared is stupid. If 10% of BTC was sold at once, what do you think would happen to the price? It would fall a lot more than 10% lol. People didn't need to panic and sell BCC. I wonder what caused them to sell? Maybe people like you?

So all 260k are from BTC purchases? Why would anyone buy it with BTC or other coins if it's cheaper with BCC? They never failed to sell out quickly.

From your tone, you're obviously biased. These people came from the Far East originally and probably weren't wealthy by most standards. More unlikely to want to scam people than some places. You can't deny that many people profited in bitconnect and similar sites. I had $5k or so in there and wasn't bothered really if I got it back or not (I already received more than I had deposited and started pretty late - only four months back really or whenever I started posting on here). To tell you the truth I'm receiving $1k a day in interest combined from a dozen or so of these so-called 'scam' lending ICOs since they started sprouting around September time. I must be delusional.

I wouldn't recommend joining the ICOs in the current climate, it's best to wait until they are released. Recently the prices have tended to fall when they hit the exchanges, although many usually still start around $10. I wonder why you think bitcoin and other top cryptocurrencies are the only ones that have value and can go up in price?

Well their ICO was selling out each day before and still is now.