I'm fed up of replying to all the nutcases. They were not a Ponzi. They were paying back less BCC coins in interest and capital releases than was being loaned to them. They didn't stop for financial reasons. If people just held the coins they would have profited more than from using their infamous lending program. So why say the lending was a Ponzi when it was the complete opposite? They also brought value in guaranteeing the capital amount invested so people didn't have to worry about their cryptos falling in value whilst also paying a percentage each day (less than the growth of the coin - they never guaranteed any percentage and many days it was zero percent). They seem to have been forced to close as they could have carried on with no financial issues.

I think you're the scammer, mate.

Yeah it works but takes ages to get connections usually. It's fine once it starts. Have 15 connections now.

Yeah gone up 50% in last hour. Maybe people are seeing sense. Who's gonna sell their coins at this price??

Is the reddit actually open to the public??? BCC didn't have to crash, as it could have carried on and were not in any financial difficulties. Everyone hating on it probably helped persuade them to stop the lending. People are only worried now due to the coin price temporarily being low. I'm sure they will think of something else soon.

You do realise what I posted just above is actually true? When people lend and lock in their coins they get less coins back even including all the interest and capital release in USD (because the coin has risen in value so much and bitconnect have always paid lower interest than the growth of their coin - they are simply sharing the profits in this way). So basically it's like the reverse of a PoS coin where people get less coins in return rather than more. How anyone can say that is a Ponzi is beyond me.

All other cryptocurrencies are far more of a Ponzi. Any whale can dump the price at any time in all other systems. At least there are systemic protections against that with the bitconnect model.


By the way, I did study mathematics at university so I'm not some idiot and may understand things a bit clearer than most.

Could you post some of these as I'm sure people invest BTC in many projects and nobody knows for sure when they will crash. Sometimes it's a hedge against BTC falling.

Is the reddit closed or can anyone see it?

You say you were working at bitconnect since the first day in 2017 but they started in March 2016 lol although it's true they were mainly a news site and didn't have a coin until the end of the year.

There is no reason to believe bitconnect is only worth $20 and bitcoin is worth over $10k. There are double the amount of bitcoins in circulation too. It is probably the case that bitconnect and the recent clones (remember they usually raise millions in the ICO so are popular) have helped with the bitcoin price in recent months due to its popularity.

Most people will have made money from it unless the bulk of their loans were in the the last few months. Personally I didn't make any loans for months and invested in other similar projects (I'm sure bitconnect didn't get as many new customers as before either due to the competition that started around September time and bad press) and it only takes three months interest to get the value of your loans back. I made a lot on other similar platforms too (around half a dozen bitconnect clones I've made profit on - even Gleb who was complaining about bitconnect here was launching his own lending platform lol).


I didn't defend their sister project at all and previously said I wouldn't be investing. They are trying to raise half a billion dollars for an exchange which seems ridiculous. I might send them some BCC tokens though as you can get them for $20 now and they are worth $150 on the ICO.

I have explained many times that bitconnect have made massive profits from the demand of their coin. They could afford to pay everyone three months 'interest' all at the same time in their coin. How were they a Ponzi? Bitcoin or other cryptos can be dumped by devs or whales at any point but bitconnect (by far the largest holders and who stake millions too a month) are not able to dump their own coin, for the reasons I've said many times too (they pay all interest in their coin so the lower it is the more of the coin they need).

There are also PoS coins (like bitconnect) that give users a percentage of extra coins per month. Bitconnect managed to get to its high valuation despite massive staking rewards and inflation of about 100% per year!! Are you calling staking coins ponzis?

Remember when people lend the BCC, they lose the gain in the coin value (it is set to USD at the time of the lend and they only get the USD value back at the end too) and bitconnect have always PAID LESS BCC back including all the interest and capital releases. In other words they are just sharing the growth of their coin price with the lenders. They are calling it lending but it is not much different to staking coins (PoS) BUT IN REVERSE cos lenders get paid less coins lol. Bitconnect always paid less interest than the growth of their coin so have always accumulated more and more BCC which proves they don't need to be a Ponzi (which they could have been if their interest payments were higher than the growth of their coin). The way they paid everyone back also shows they could have easily carried on and weren't even going into their BCC reserves for the reasons given before.

Or you can send to your BCC web wallet and wait until they open their exchange tomorrow where most of the volume has always been. The starting price should be over $200 if they left off from before.

I wonder what people who sold their BCC at under $50 yesterday think now? Remember bitconnect paid everyone the equivalent of 3 months interest all at the same time so were obviously never a Ponzi or in financial difficulties. The bitcoin crash recently was on miniscule sell volumes compared to the total supply, btw, so you can see how easy it is to crash a market.

https://bitconnect.co/system-news/95/bitconnect-update-regarding-the-changes-to-lending-and-exchange-functions/

Dear community members, the current BCC price drop is the direct result of us releasing all of our members coins at one time. We will do our best to honor the value of BCC as close to what it has been holding during past several months. At this time, we are closing the lending platform only. The BCC Exchange will work as usual from tomorrow and the wallet service will remain operational to hold your BCC on the website.

For next 10 days we are allowing members outside the U.S.A, to participate in the BitConnect X ICO with BCC at $150. This is to support existing coin holders and give the BCC coin some initial stability after these recent events.

We are launching a new, superior system as an exchange that will support several cryptocurrencies as soon as possible and BCC will be listed immediately.

BitConnect Coin are limited in supply to 28 million and there are currently only 9.6 million in circulation. This scarcity of supply should create a market demand, with help and support from the community, once this new exchange begins operation.

We still expect BitConnect coin (BCC) to gain its value back and you can hold your coins in the website wallet or transfer them to a QT wallet.

We apologize for this inconvenience and we are working to get things corrected for this community and platform.

Best Regards,
The Team BitConnect


BTW thanks to "Dooglus" for giving me negative feedback for 'promoting a ponzi' lol  Has he bought any bitcoin in his life I wonder, which is far more of a ponzi? Also, looking at his feedback he does this a lot whenever he thinks people are talking about a 'ponzi'. One of the deluded ones.

You have a point but I wonder what that bitconnectx ICO is about? They don't need to raise so much for a simple exchange. Will be interesting what happens to the token...definitely won't 10x haha. I am not buying it.

That's how they convert your USD loans.... if you had $36300 invested you will get 100BCC back ($363 per BCC they are using based on the last 15-day average price).

Obviously, they probably made enough profit to keep collateral for these loans but instead they are doing what their platform promises to do and paying in BCC tokens. They are paying your loan back early, though. Unfortunately, the coin will not reach that price again unless they create more demand for it. They told some promoters (Craig Grant has a video about it) that the coin will reach the same value within 6 months.

Well what they actually did was instead of paying 1 day's interest today, they paid everyone 100 days of interest. It was not for any financial reasons they stopped. They were making profit all the time. Their coin price reflects the demand and they could have carried on but were probably forced to stop due to their USA customers..

Wrong again. They only paid in BCC tokens. The BCC went up at a higher rate than the lending rate (people who invest in the lending give up the growth of the BCC token as it's fixed in USD). Bitconnect have been massively profitable throughout due to the price and demand of their coin. They were effectively sharing the profits of the growth of the coin. The only problem now is they paid about 3 months interest to everyone in one go and everyone wants to cash out at the same time.

Some dark souls have been capturing all these bitcoin evangelists and making them crazy. All the signs are there. They hate on a coin (BCC) that is far less of a Ponzi than the coin they seem to care about most (BTC). Seriously, do you know how easy it is to crash a coin's price, even good old BTC (at least with BCC the devs can't dump it as it will cost them more coins instead of less coins in interest payments and capital releases)?  BCC is only down so much because lots of people are panic selling instead of holding the coin. The sensible thing would probably be to hold it if it falls so much.

You keep going on about BTC when they only pay BCC. It's true that the correspondingly low BCC price may have made it expensive to pay daily interest but remember they paid about 3 months worth of interest to everyone in one go. I would hold the BCC. They are still retaining some value and they might have some other plans for the coin. They say the coin isn't finished and will be back up to previous levels within six monthns and have a half a billion dollar ICO running.


Again, Gleb was promoting his own lending platform recently (even claiming bitconnect were moderately successful in his spiel). Maybe he thought better of it due to being in USA as not sure if it's still a thing he's doing.

I'm surprised more people aren't having a go at bitconnectx.... they have the cheek to charge $50 per coin haha  to raise about half a billion dollars in the ICO. For an exchange???  At least it puts BCC holders in good hands if they raise that amount.

You may not know but these guys are from France and they like speaking like that apparently haha.

Some more related news from another lending platform that seem reputable too and you might approve of their english more (BTW don't people know Gleb was advertising his own lending platform not long ago or has he abandoned it now??):

"Hello everyone. We're sure most of you have heard about the closing of the BitConnect lending and exchange platform by now. We would like to offer our most heartfelt sympathies and condolences to BitConnect and all of its investors. For a platform to be shut down due to legal implications is one of the most unfortunate ways to go. We are grateful to hear that BitConnect has plans to move past this, and wish the best to both BitConnect and its community.

In wake of users' concerns regarding the legal status of lending platforms, we would like to share the steps we've taken to ensure Eigencoin’s stability, strength, and legality. Our team has been working with an accomplished securities law firm since inception and has taken additional measures to provide us a solid safety net. Moving forward, here are a few reminders and changes that we would like everyone to read:

In December we launched our ICO offering outside the United States. In order to participate, you all confirmed that you were not “US persons.” We want to make sure that we can continue to rely on the provisions of Regulation S under the US Securities Act of 1933, and are developing some additional procedures to that end. You will note some additional disclosures being added to our website, for example, reminding you that you may not resell Eigencoin to US persons, and that you may not enter into hedging transactions in the United States. We also plan to close our website to US IP addresses starting February 1st, 2018. While we recognize that some non-US persons may have used VPNs with US IP addresses, this will not be possible after that date and anyone affected should make alternative arrangements.

We thank you all for your continued interest in Eigencoin, and would like to extend a warm welcome to anyone who wishes to join us in the upcoming days."