Actually it's gone up a lot more in last few minutes but servers are a bit overloaded (problems logging in)  It could be some elaborate exit scam, who knows, but at the moment you can make some money.They updated their announcement: UPDATE 12:00 PM Wednesday, 28th February 2018 - From FB
( SIMPLIFIED)
(1) We will be listing on two major exchanges on the 5th of March, you’ll be able to trade on HitBTC and Coin Exchange. Coin Market Cap will list the coin post the coins trading for more than 24 hours on the external exchanges.
( EXPLAINED) Meaning these two exchanges won't be the only exchanges. Falconcoin will still be listed in one or more exchanges later. Coin market will list falconcoin after falconcoin has traded on the two external exchanges ( HitBTC and Coin Exchange) for more than 24 hours, which could be after 2 or more days.
(2) Over the past week we have been upgrading members wallets to allow the transfer of ECR20 Falcon tokens in and out of the System. This will be available for members on the 4th of march ahead of external listings.
( EXPLAINED) You will be able to send Falconcoin to your personal ECR20 compatible wallet like myether wallet and you will be able to trade directly from the wallet to external exchange or back to internal exchange. This will be available for members on the 4th of march ahead of external listings to enable high volume of trading from multiple sources.
(3) As a 48 hour promotion we are going to offer a 1 for 1 purchase promotion on our internal exchange. This starts NOW! and will end 12:00 PM Friday, 2nd March 2018.
If you purchase 100 tokens one the exchange you’ll be credited an additional 100 tokens on the 3rd of March 2018. If you buy 100 tokens, then sell 100 tokens then re-buy 100 tokens then your net purchase over the 48 hours is 100. You will not be credited for the purchase of 200 tokens as you sold 100 during the promotion.
( EXPLAINED) We are offering a 48 hours promo which started the same hour this post was initially posted and will end 12:00 PM Friday, 2nd March 2018. You will get double of any amount of Falconcoin you buy during this period of the promo but the bonus will only be given to you on the 3rd of March 2018 OR days after. As the case may be. ( Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.) If you buy 1000 FFC during the promo, you will get 1000 FFC as bonus on the 3rd of March 2018 or Days after, as the case may be.
(T&C)
IF you buy FFC during this promo and also sell FFC, your bonus will be; TOTAL BUY - TOTAL SELL
(4) And finally one of our biggest updates to affect all members going forward.
Given the significant changes in the industry over the last 30 days, our team has had to go back and think up creative ways to bring not only value for our members but long term stability. We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days.
Exchange Protection works by protecting investors from negative coin fluctuations on our internal exchange. As the share price increases so will the minimum a seller or buyer can trade on our internal exchange. Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. As the price increases the minimum will also increase. We are going to trial this feature and monitor the effects on the platform and the community closely over the next 90 days.
( EXPLAINED) This is NOT manipulation.
We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days, which means, if we discover during this trial period of adopting this strategy that it is not good for the community, we will reverse it. That is why it is called trial.
THIS IS THE STRATEGY. We all have seen how price has been going back and forth in a way not profitable for all, which is a negative coin fluctuations. During this trial Exchange Protection on our internal exchange, FFC new high price record will be setting limits to the amount of FFC a buyer can buy and a seller can sell. Let's say 1$ FFC is 100 FFC limit. It means, when FFC gets to 1$, you must have up to 100 FFC to be able to trade Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. This means, whatever the price of FFC is at the time we shall begin, will be the first FFC new high price record. As the price increases, the minimum you can trade will also increase BUT IT IS A TRIAL, SO NO NEED TO WORRY.
We are going to try this features and monitor the effects on the platform and the community closely over the next 90 days, maximum.
Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.
THANKS
(FALCONCOIN SOCIAL)
Anyone care to check if they really will be listed on hitBTC as that is quite an achievement if they managed it? EEEEK it looks like it was an elaborate exit which I said above was a possibility. I'd been trying to confirm their listings on HitBTC (goldgate managed it the other day) and coinexchange but nothing was confirmed. This looks like another disaster for lending. Only Lendconnect still going that seems legit. Bitconnect lending lasted a really long time and wouldn't have needed to close if it wasn't for complainers but others seemed like scams towards the end at least. I wouldn't be surprised if they got some subpoenas from USA and got scared as they never limited USA users like all more recent 2018 ICOs seem to now do (as even the TokenPay ICO which was simply a private coin with nothing that could be easily construed as securities had to ban USA after the ICO started).This is the message on their new News Channel 🚨It looks like the worst has happened. The Admins have not heard from WILL -CEO and Mike – SCO or anyone from the Falcon team. Due to this admins are inclined to believe WILL and Mike have found their way out along with all the funds. The wallet of Falcon coin was also emptied. This wallet address was shard by Will when things were going well. The falcon website is not working now and absolute silence from the founders indicate that they are no longer in business. All the Admins were completely blindsided and left hanging with no information. Please understand that each volunteer admin is not a member of the official falcon coin team and Admins were never compensated in anyway for all the community work they did. Most of the social media was managed by admins voluntarily to help bring news to the community as fast as they could. As soon as admins realized that falcon coin is no longer in business they have decided to take down all the social media to and cease all support to Falcon coin. During these hard times we ask you to be compassionate towards the admins as they are investors too and they had no control or any part of what the official falcon coin team did. Following is the wallet address that WILL – CEO sent to check the Falcon coin transactions - https://blockchain.info/address/3BLBPgLXuz1LXe96PZA1Tx6iGQwLKP32aEI put in half a bitcoin recently so lost that it seems. BTW I just checked that address and it seemed to have already been emptied at the start of the month, so doesn't really prove much. |
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I mentioned the Falcon promo yesterday
You mentioned it in the wrong thread. This thread is for the BitConnect scam. I'm still not sure how it's going to pan out
I am. It's a Ponzi, and it is going to pan out like all Ponzis pan out. It will shut down leaving lots of people with large losses. they are doubling all purchases until March 2nd or something
Doubling you say? Sounds legit. Yeah, I know it's slightly off topic but just thought I'd let people know if they wanted to make some money.
Ponzis are negative expectation for the "investors". If you get in early enough you can profit from the even bigger idiots who get in after you, but you never know when it's going to shut down. Today might be the last day they pay out, so if you invest now you might lose everything. Do you feel lucky?
Falcon still doing good and $1.50 last I looked and the transaction volume reaching the millions whereas before it was only about $50k a day. I understand how people who tell the truth get hated on and it seems like you will never be able to see the truth as you have been manipulated to hate on bitconnect etc. What boggles the mind for me is your last statement. Crypto in general is all a Ponzi as nothing is backing the price ( the only time it's not is when profits of the company actually REALLY affect the price with buy backs or they use profits to market the coins as in bitconnect's case - they could have done buy backs too but the lending was deflationary anyway throughout bitconnect's life so was obviously not a Ponzi and to buy back would be the same as them not selling all the extra BCC from the lending as profit). Where company profits are not directly affecting the price, all investors for most cryptos who win are taking it from others who lose or are left bag holding coins nobody else buys so are basically ponzis or bubbles (AKA greater fool theory) since NO MONEY IS GENERATED and often the devs hold free coins so they are NEGATIVE EXPECTATION FOR INVESTORS. Lending is obviously a better system than staking and nobody complains about PoS being a Ponzi even though it promises a percentage for holding the coins in the wallet which just inflates the supply. Lending produces profits for the company when it is deflationary (i.e. when they pay less interest than the growth of the coin) and even when it is inflationary it is no different to PoS staking*. Everyone else on this thread who doesn't agree is deluded. * Although when it is inflationary, the company wouldn't be able to take profits without stealing from investors who are not in the lending or staking at the same rate, PoS in the same way favours holders of higher amounts of coins as they stake more often and compound their stakes more, so even PoS is unfair to small holders versus holders of higher amounts who will stake more often and get a higher effective interest rate when compounded. |
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Actually now seems to be just a place to post and shill new up and coming ponzi schemes... Can anyone tell me what is actually happening with BCC? is there actually attempts to keep the coin running? probably alot of poor saps out their staking their coins at a 90% loss.....makes me sick, it still pisses me off that the people who lost were mostly newcomers who didn't/couldn't have known any better BCC only shut its lending due to people complaining. It was in no trouble as the price was going up all the time even one whole year after the ICO. It caused a knock on effect on every other platform but some were already scams. BitconnectX I think finished its ICO so there should be some news coming soon for BCC. It will be traded on there at least plus Trade Satoshi (a small exchange). Others are delisting it. So who knows what is going to happen. The price did fall after the demand for BCC fell and many people sold their BCC in a panic since it made sense to as the price was falling. There was no evidence bitconnect dumped their coins and they still have millions of BCC. Their BitconnectX ICO should have raised close to half a billion dollars!! BitconnectX twitter 11 hours ago posted their wallet download: https://twitter.com/bitconnectx/status/969078256912814080 |
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Actually it's gone up a lot more in last few minutes but servers are a bit overloaded (problems logging in) It could be some elaborate exit scam, who knows, but at the moment you can make some money. They updated their announcement: UPDATE 12:00 PM Wednesday, 28th February 2018 - From FB
( SIMPLIFIED)
(1) We will be listing on two major exchanges on the 5th of March, you’ll be able to trade on HitBTC and Coin Exchange. Coin Market Cap will list the coin post the coins trading for more than 24 hours on the external exchanges.
( EXPLAINED) Meaning these two exchanges won't be the only exchanges. Falconcoin will still be listed in one or more exchanges later. Coin market will list falconcoin after falconcoin has traded on the two external exchanges ( HitBTC and Coin Exchange) for more than 24 hours, which could be after 2 or more days.
(2) Over the past week we have been upgrading members wallets to allow the transfer of ECR20 Falcon tokens in and out of the System. This will be available for members on the 4th of march ahead of external listings.
( EXPLAINED) You will be able to send Falconcoin to your personal ECR20 compatible wallet like myether wallet and you will be able to trade directly from the wallet to external exchange or back to internal exchange. This will be available for members on the 4th of march ahead of external listings to enable high volume of trading from multiple sources.
(3) As a 48 hour promotion we are going to offer a 1 for 1 purchase promotion on our internal exchange. This starts NOW! and will end 12:00 PM Friday, 2nd March 2018.
If you purchase 100 tokens one the exchange you’ll be credited an additional 100 tokens on the 3rd of March 2018. If you buy 100 tokens, then sell 100 tokens then re-buy 100 tokens then your net purchase over the 48 hours is 100. You will not be credited for the purchase of 200 tokens as you sold 100 during the promotion.
( EXPLAINED) We are offering a 48 hours promo which started the same hour this post was initially posted and will end 12:00 PM Friday, 2nd March 2018. You will get double of any amount of Falconcoin you buy during this period of the promo but the bonus will only be given to you on the 3rd of March 2018 OR days after. As the case may be. ( Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.) If you buy 1000 FFC during the promo, you will get 1000 FFC as bonus on the 3rd of March 2018 or Days after, as the case may be.
(T&C)
IF you buy FFC during this promo and also sell FFC, your bonus will be; TOTAL BUY - TOTAL SELL
(4) And finally one of our biggest updates to affect all members going forward.
Given the significant changes in the industry over the last 30 days, our team has had to go back and think up creative ways to bring not only value for our members but long term stability. We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days.
Exchange Protection works by protecting investors from negative coin fluctuations on our internal exchange. As the share price increases so will the minimum a seller or buyer can trade on our internal exchange. Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. As the price increases the minimum will also increase. We are going to trial this feature and monitor the effects on the platform and the community closely over the next 90 days.
( EXPLAINED) This is NOT manipulation.
We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days, which means, if we discover during this trial period of adopting this strategy that it is not good for the community, we will reverse it. That is why it is called trial.
THIS IS THE STRATEGY. We all have seen how price has been going back and forth in a way not profitable for all, which is a negative coin fluctuations. During this trial Exchange Protection on our internal exchange, FFC new high price record will be setting limits to the amount of FFC a buyer can buy and a seller can sell. Let's say 1$ FFC is 100 FFC limit. It means, when FFC gets to 1$, you must have up to 100 FFC to be able to trade Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. This means, whatever the price of FFC is at the time we shall begin, will be the first FFC new high price record. As the price increases, the minimum you can trade will also increase BUT IT IS A TRIAL, SO NO NEED TO WORRY.
We are going to try this features and monitor the effects on the platform and the community closely over the next 90 days, maximum.
Falcon credits from the internal exchange promotion will be created post the promotion finishes, so that we can accurately credit customer accounts.
THANKS
(FALCONCOIN SOCIAL)
Anyone care to check if they really will be listed on hitBTC as that is quite an achievement if they managed it? |
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Each "lending platform" scam has its own thread. Please post your Ponzi promotions the correct place and don't cross-contaminate. This thread is for promoting the BitConnect Ponzi. Another lending platform coin mooning today.....very strange..
That scam is offtopic here. Lendconnect seems to be mooning for no known reason.....
That scam is offtopic here. Is that guy AGM playing with a full deck? Or does he just like seeing other people lose money and get some sort of sick satisfaction out of it? The number one rule in Crypto used to be to always keep your private keys safe, I think that has been surpassed by, NEVER INVEST ANY MONEY INTO A LENDING PLATFORM THEY ARE ALL FUCKING SCAMS! Well you say that but I mentioned the Falcon promo yesterday and look at it now (from little over 20cents). I'm still not sure how it's going to pan out but they are doubling all purchases until March 2nd or something and will be listed on external exchanges (withdrawals work so if you bought when I mentioned it yesterday you would have more than doubled your BTC if you sold now) : I expect the price to still go up as the promo is for 48hours, I think. Yeah, I know it's slightly off topic but just thought I'd let people know if they wanted to make some money.  I'll leave something else here to annoy people haha UPDATE 12:00 PM Wednesday, 28th February 2018
We will be listing on two major exchanges on the 5th of March, you’ll be able to trade on HitBTC and Coin Exchange. Coin Market Cap will list the coin post the coins trading for more then 24 hours on the external exchanges.
Over the past week we have been upgrading members wallets to allow the transfer of ECR20 Falcon tokens in and out of the System. This will be available for members on the 4th of march ahead of external listings.
As a 48 hour promotion we are going to offer a 1 for 1 purchase promotion on our internal exchange. This starts NOW! and will end 12:00 PM Friday, 2nd March 2018.
If you purchase 100 tokens one the exchange you’ll be credited an additional 100 tokens on the 3rd of March 2018. If you buy 100 tokens, then sell 100 tokens then re-buy 100 tokens then your net purchase over the 48 hours is 100. You will not be credited for the purchase of 200 tokens as you sold 100 during the promotion.
And finally one of our biggest updates to effect all members going forward.
Given the significant changes in the industry over the last 30 days our team has had to go back and think up creative ways to bring not only value for our members but long term stability. We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days.
Exchange Protection works by protecting investors from negative coin fluctuations on our internal exchange. As the share price increases so will the minimum a seller or buyer can trade on our internal exchange. Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. As the price increases the minimum will also increase. We are going to trial this feature and monitor the effects on the platform and the community closely over the next 90 days.
Falcon credits from the internal exchange promotion will be created post the promotion finishing so that we can accurately credit customer accounts.
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I meant that the people wouldn't have been able to get their money out for months if they reduced the interest rates and less interest would obviously be sold too on the exchange. They just needed more reasons for people to buy the coin to keep the price up, so wouldn't have been difficult. Bill Gates now saying Crypto is 'causing deaths': https://www.msn.com/en-gb/money/technology/bill-gates-warns-cryptocurrency-causing-deaths-as-microsoft-cofounder-blasts-its-anonymity/ar-BBJG8AUIf it's anonymous, it actually stops some harms actually as people won't be scared of getting caught. Obviously, most are not that anonymous though. I'll leave something else here to annoy people haha UPDATE 12:00 PM Wednesday, 28th February 2018
We will be listing on two major exchanges on the 5th of March, you’ll be able to trade on HitBTC and Coin Exchange. Coin Market Cap will list the coin post the coins trading for more then 24 hours on the external exchanges.
Over the past week we have been upgrading members wallets to allow the transfer of ECR20 Falcon tokens in and out of the System. This will be available for members on the 4th of march ahead of external listings.
As a 48 hour promotion we are going to offer a 1 for 1 purchase promotion on our internal exchange. This starts NOW! and will end 12:00 PM Friday, 2nd March 2018.
If you purchase 100 tokens one the exchange you’ll be credited an additional 100 tokens on the 3rd of March 2018. If you buy 100 tokens, then sell 100 tokens then re-buy 100 tokens then your net purchase over the 48 hours is 100. You will not be credited for the purchase of 200 tokens as you sold 100 during the promotion.
And finally one of our biggest updates to effect all members going forward.
Given the significant changes in the industry over the last 30 days our team has had to go back and think up creative ways to bring not only value for our members but long term stability. We want to make Falcon Coin the most attractive and trusted platform in the lending space and we have decided we are going to trial Exchange Protection for the next 90 days.
Exchange Protection works by protecting investors from negative coin fluctuations on our internal exchange. As the share price increases so will the minimum a seller or buyer can trade on our internal exchange. Exchange Protection will start at 12:00 PM Friday, 2nd March 2018 and the price will be officially locked in as the lowest price. As the price increases the minimum will also increase. We are going to trial this feature and monitor the effects on the platform and the community closely over the next 90 days.
Falcon credits from the internal exchange promotion will be created post the promotion finishing so that we can accurately credit customer accounts.
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Other warnings of potential losses: https://qz.com/1217460/cryptocurrency-is-a-giant-multi-level-marketing-scheme/Then you have the mythology surrounding Satoshi Nakamoto, the anonymous listed inventor of bitcoin and its underlying blockchain technology. A mysterious character who creates 880,000 bitcoins of dubious value whose value is propped up by a public enthralled by stories of newly minted crypto millionaires? That’s not going to end well. Throw in a twist where one person allegedly manipulated prices on the Mt. Gox currency exchange to drive the price from $150 to $1,000, and it all sounds like a Hollywood film. The red flags are right out there in the open, waving in the wind.
But the public should know by now how these kinds of movies end: with a few people getting rich and a whole lot of people losing money.
Despite the damn-the-man libertarian framing of cryptocurrency as the great democratizer of wealth, just 1,000 people own 40% of the entire bitcoin market (which was valued at over $200 billion in early 2018, and now hovers somewhere over $100 billion depending on the massive daily fluctuations).
That’s not the currency of the future—that’s a giant multi-level marketing scheme.
Anyway, I have always maintained that bitconnect lending turned out to be a better system for cryptocurrencies than staking (I'm not saying it was planned that way, it just turned out that way). It was actually deflationary throughout in bitconnect's case (rather than inflationary for normal PoS staking) although hopefully bitconnect sold the extra coins as profit to market themselves and help grow the coin value. Bitconnect should have found other uses and incentives to purchase the BCC coin to prop up the price which would have been easy to do as selling pressure would always remain low (remember the lending coins would take months to be released even if they reduced the interest rates to almost nothing when growth eventually slowed) and it would have carried on as long as it wanted. It's a shame all these people who weren't even in bitconnect (but were obviously deluded about cryptocurrency) had to complain so much and get state security boards and subpoenas involved etc. but BCC is still going and I'm currently staking the coins (7% per month). They are holding a steady price at the moment but I'm guessing the price will go up again. Bitconnect and Bitconnectx have definitely stated they want to bring the price back up in the future, not least to help those more recent investors who lost money with bitconnect and they also hold millions of coins themselves.
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Yeah it generated demand because bitconnect had profits from it and could market the coin. If they didn't make any profits from it and just stole it from investors, then it would have been a Ponzi. It would only collapse if people didn't want to pay X amount for the BCC coin but there would be no reason for them not to. Lenders didn't mind what price the coin was. Only when people started getting nervous about lending, for example if they started going into reserves without reducing the interest rates, could it collapse. They could have easily found other ways to keep demand for the coin while they reduced the interest rates because most of the coins would be locked in lending and couldn't be sold.
"Could have easily" but didn't? How is that not a scam even if you truly believe all that garbage that you're making up? Bitconnect didn't have any real business or any other kind of revenue to back the scheme so they relied on people bringing in more money. That can't last forever and it didn't. They closed their scheme once the amount of new money started tapering off. It's a classic ponzi scheme. Having profits and doing marketing is irrelevant. Of course scammers have profits and of course they want to market their scheme to make more money. It's still an illegal unsustainable scheme. The lending itself was profitable for them without them stealing from investors. The coin price is based on the demand for the coin which had a large community of people. Many didn't lend and just staked the coin as that normally paid quite a lot more than lending. If more people did lending, bitconnect would have been able to do more marketing with the extra profits. |
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It's very simple. The whole time bitconnect ran, the BCC price went up a lot faster than the interest they were paying. Including the capital releases, the lending was profitable for bitconnect as they were accumulating more and more BCC coins and paying out less BCC than the amount loaned to them. Assuming they had zero BCC reserves (although they actually had millions) they wouldn't need to use BCC from new investors to pay the interest so it wasn't a ponzi! The lending was like the reverse of staking coins in that people got back less BCC and not more for lending (including capital release) just because of the coin price growth. If they ever needed to use their reserves, it would mean that they'd be adding coins to the market and reducing the real value of BCC but this never happened! This proves all the coins they sold were legitimate profits from the lending system which they could use to market the coin (NO DUMPING OR STEALING FROM INVESTORS). The lenders didn't mind paying this as they still made good interest on the investment. How anyone understanding this can think this was a Ponzi is beyond me. For example, if they had web staking (which they were going to have and not just in the desktop wallet), that would pay extra BCC coins and cause inflation... the lending didn't even get to that point and was the reverse of staking so was nowhere near a ponzi!
The whole lending scheme was a sham designed to create artificial demand for their useless token. That was the reason BCC went up. Until it didn't and collapsed just like all ponzis do. It's an unsustainable and illegal scheme. Yeah it generated demand because bitconnect had profits from it and could market the coin. If they didn't make any profits from it and just stole it from investors, then it would have been a Ponzi. It would only collapse if people didn't want to pay X amount for the BCC coin but there would be no reason for them not to. Lenders didn't mind what price the coin was. Only when people started getting nervous about lending, for example if they started going into reserves without reducing the interest rates, could it collapse. They could have easily found other ways to keep demand for the coin while they reduced the interest rates because most of the coins would be locked in lending and couldn't be sold. |
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The bitconnect website is still up and running. The exchange I'm pretty sure is running as you can see here: https://bitconnect.co/user/trade?Market=BCC (there was only a few bitcoins in 24hour volume so most people probably don't realise they can still use the exchange there - also this makes a mockery of how others thought they were inflating their volume before when now they only list $40k worth) It costs very little to leave a website up and running, but that doesn't change anything about whether Bitconnect's lending platform was a Ponzi or not. What point are you trying to make? The BCC token was only created for the purpose of running a Ponzi scheme. Now that the Ponzi has shut down there's no remaining use for the token. Sure you can still buy and sell it in various places. You can still trade Paycoin too if you want to. Their roadmap is still up. Are they going to abandon it now? Not heard anything about it. They haven't updated any news on the site since January 19th, I think.
I've no idea. I suspect they will do whatever they think will net them the biggest return from new victims. If they can find some way of extracting more value from idiots then I guess they'll do so. What I said about the devs not being able to dump their coin is true and not nonsense as they can only take profits from the lending rates as otherwise it is counterproductive to the whole system to take more profits.
They created a huge number of BCC tokens, and used them to create a Ponzi scheme. What makes you think that they didn't sell any of those tokens when the price was high? Why on earth would they create a massive Ponzi if the exit strategy was to end up with nothing but a bag of worthless BCC tokens? It makes no sense at all. Of course they sold some of their tokens. There was no evidence they dumped coins when they cancelled the lending either and they still had over 2million coins out of 10million last time I looked .
So they only dumped 80% of them? Such saints! It's very simple. The whole time bitconnect ran, the BCC price went up a lot faster than the interest they were paying. Including the capital releases, the lending was profitable for bitconnect as they were accumulating more and more BCC coins and paying out less BCC than the amount loaned to them. Assuming they had zero BCC reserves (although they actually had millions) they wouldn't need to use BCC from new investors to pay the interest so it wasn't a ponzi! The lending was like the reverse of staking coins in that people got back less BCC and not more for lending (including capital release) just because of the coin price growth. If they ever needed to use their reserves, it would mean that they'd be adding coins to the market and reducing the real value of BCC but this never happened! This proves all the coins they sold were legitimate profits from the lending system which they could use to market the coin ( NO DUMPING OR STEALING FROM INVESTORS). The lenders didn't mind paying this as they still made good interest on the investment. How anyone understanding this can think this was a Ponzi is beyond me. For example, if they had web staking (which they were going to have and not just in the desktop wallet), that would pay extra BCC coins and cause inflation... the lending didn't even get to that point and was the reverse of staking so was nowhere near a ponzi! Regarding affiliates, remember the BCC loaned to bitconnect could also be staked by them (8% a month or so). Affiliates could easily be paid with this without causing damage to investors. Remember that all coins investors bought could also be staked the same way so it's not like they are being disadvantaged by the inflation as they would get the same staking rate too. This doesn't even consider all the millions of BCC reserves that bitconnect could have staked, which I don't even think they did much as it probably would have made staking more difficult for coin holders. |
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Yeah, you seem to like saying 'ponzi' a lot without acknowledging bitcoin as being the bigger Ponzi than bitconnect.
We've talked about this before. You were unable to provide any evidence for Bitcoin being a Ponzi. It's also offtopic in this thread. I already explained how it's a better system for cryptocurrencies since it stops devs dumping their premined/free coins (which is the only way they can steal from investors) but Satoshi can dump his bitcoins I presume anytime he wants and make it worthless. The lending rates can be adjusted to the growth of the coin. The coin will usually grow as long as they can profit from the lending and use that to market the coin which is the only reason any crypto gains in value (it is only good if they use the same model as bitconnect- some other models have interest that is not really properly linked to the coin price such as falcon). Once they stop profiting from the lending and can't grow any more, they will have to maintain the coin price in some other way but at least people can't sell it all straight away with bitconnect's model if the coins are mostly locked in the lending so they just need to find more reasons for people to buy the coin when they reduce the lending interest rates, maybe for web staking or other new services or stuff like their new ICO etc. They decided to release all the funds at once instead of maintaining the coin price with other things because of all the complainers,
You have said all that many times before. People have told you why it's nonsense many times before. You can't believe it to be true. Why are you still shilling for this dead Ponzi? I explained how bitconnect was in no financial trouble when they closed the lending. All the complainers caused everyone else to lose money.
Nobody thinks Bitconnect is in financial trouble. They made out like bandits. By the way, who is controlling the price of BTC?
I think the market sets the price. Supply and demand. That's offtopic here. The bitconnect website is still up and running. The exchange I'm pretty sure is running as you can see here: https://bitconnect.co/user/trade?Market=BCC (there was only a few bitcoins in 24hour volume so most people probably don't realise they can still use the exchange there - also this makes a mockery of how others thought they were inflating their volume before when now they only list $40k worth) Their roadmap is still up. Are they going to abandon it now? Not heard anything about it. They haven't updated any news on the site since January 19th, I think. What I said about the devs not being able to dump their coin is true and not nonsense as they can only take profits from the lending rates as otherwise it is counterproductive to the whole system to take more profits. There was no evidence they dumped coins when they cancelled the lending either and they still had over 2million coins out of 10million last time I looked . Yep, still no change in the top ten addresses: Wealth Distribution Top N addresses Holdings Percentage Top 10 1,924,530 BCC 19.29 % Top 100 3,465,824 BCC 34.74 % Top 1000 4,613,053 BCC 46.24 % All 180956 9,976,747 BCC 100 % |
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Each "lending platform" scam has its own thread. Please post your Ponzi promotions the correct place and don't cross-contaminate. This thread is for promoting the BitConnect Ponzi. Another lending platform coin mooning today.....very strange..
That scam is offtopic here. Lendconnect seems to be mooning for no known reason.....
That scam is offtopic here. Yeah, you seem to like saying 'ponzi' a lot without acknowledging bitcoin as being the bigger Ponzi than bitconnect. I already explained how it's a better system for cryptocurrencies since it stops devs dumping their premined/free coins ( which is the only way they can steal from investors) but Satoshi can dump his bitcoins I presume anytime he wants and make it worthless. The lending rates can be adjusted to the growth of the coin. The coin will usually grow as long as they can profit from the lending and use that to market the coin which is the only reason any crypto gains in value (it is only good if they use the same model as bitconnect- some other models have interest that is not really properly linked to the coin price such as falcon). Once they stop profiting from the lending and can't grow any more, they will have to maintain the coin price in some other way but at least people can't sell it all straight away with bitconnect's model if the coins are mostly locked in the lending so they just need to find more reasons for people to buy the coin when they reduce the lending interest rates, maybe for web staking or other new services or stuff like their new ICO etc. They decided to release all the funds at once instead of maintaining the coin price with other things because of all the complainers, I suppose. If you look at their 2018 roadmap you can see they were or maybe still are going to do things like that from May to August (Decentralized Fiat Exchange to buy and sell BCC and BTC with Fiat, BitStore bitconnect brand store to purchase crypto products and materials, New Investment Opportunities in July to August - https://bitconnectcoin.co/roadmap-2018 ). I explained how bitconnect was in no financial trouble when they closed the lending. All the complainers caused everyone else to lose money. By the way, who is controlling the price of BTC?  |
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Another lending platform coin mooning today.....very strange.. Regal has other tokens now though although not even bothered looking at their prices.  |
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Lendconnect seems to be mooning for no known reason..... It's actually double what is shown on the graph on coinexchange now ($4 at least)  |
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Anyone staking BCC coins? I moved mine to desktop wallet. I have quite a lot ~1000 so wondering if it's enough to get regular staking rewards? It should pay a decent percentage each month (8% I think or is it 6% now?). Actually, just checked and it's 7% at the moment but I'm wondering if the staking is working with 1000 coins or do you need more?  |
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why do we keep bumping this ANN ?
lets moderator lock the thread and we move our ass somewhere
Bitconnect are supposed to be at the AI expo in London in April: https://blockchain-expo.com/global/partners/bitconnect-2/I wonder if they will finally show their bot  AI Expo: What to expect at the AI Expo Global in London this April Posted February 8, 2018 The thought leadership conference and exhibition, the AI Expo Global is set to arrive in London’s Olympia on the 18-19th of April and will bring together AI leaders from key industries covering marketing, finance, government, public sector, healthcare, cyber security, HR & recruitment, automotive, industrial, developer, enterprise and consumer sectors. With four dedicated AI conference tracks, over 12,000 attendees, 500+ speakers, 300+ exhibitors and 3 co-located events, the AI Expo is one for technology enthusiasts and business leaders’ calendars. Attendees can discover how AI is being implemented, monetised and network with industry leaders, practitioners and investors. Topics covered over the two-day conference include: deep learning, machine learning, AI algorithms, data analytics, digital transformation, chatbots, virtual assistants, AI enterprise strategy, AI regulation & legislation, AI in the workplace, cyber security, AI for social good and many more. Key industry verticals examined include: AI and the Consumer: digital transformation, customer experience, social good, chatbots, virtual assistants, marketing, travel, sport, retail and consumer goods. Finance & Insurance: portfolio management, banking chatbots, machine learning data algorithms, algorithmic trading, loan & insurance underwriting, fraud detection and cyber security. Healthcare: clinical trial participant identifier, preliminary diagnosis, automated image diagnosis, virtual nursing assistants, robot-assisted surgery, dosage error reduction, security and connected machines across the industry. Government & Public Sector: use of cognitive technologies to redesign public sector work, task automation and real-time tracking. Speakers already confirmed include brands from P&G, HSBC, MoneyGram, Sanofi, Adidas Group, Southern Water, Konica Minolta, Skyscanner, Expedia, Pizza Express, AI for Good Foundation, Diabetes, Prudential, LV=, Diffblue, Arsenal FC, Sport Lisboa e Benfica, Gartner, Progress Data RPM, Irida Labs, Mishcon de Reya and many more. There will be four AI conference tracks over both days that attendees can get involved in: AI in the Enterprise (day 1 – 18th April) Data analytics for AI & IoT (day 1 – 18th April) AI and the Consumer (day 2 – 19th April) AI Technologies (day 2 – 19th April) You can expect a showcase of the latest innovations within the co-located exhibition of over 300 exhibitors across AI, IoT and Blockchain. Exhibitors include: Prosper Systems, AI startup Incubator, Diffblue, Irida Labs, Etherisc, BitClave, Bitfury Group, Coinschedule, University of Nicosia, NewsBTC, Nexus, BGX, Xain, Hedge Token, Spire, The Quantum Resistant Ledger, IP Chain, dApp Builder, Coin Lion, Bitconnect, Indiegogo – Arrow – IBM, BICS, The Qt Company, VANTIQ, Itransition, Novotek, DELTA, DevicePilot, Express Logic, Lead Forensics, Rutronik, Advantech and many more… You can register for either a free or paid pass here, a super early bird discount is available until the 23rd of February. To learn more about the AI Expo World Series, visit the corresponding sites: AI Expo Global – 18-19th April 2018, Olympia, London AI Expo Europe – 27-28th June 2018, RAI, Amsterdam AI Expo North America – 28-29th November 2018, Santa Clara, Silicon Valley For speaking, sponsorship and exhibitor enquiries please contact the team at enquiries@ai-expo.net or call on +44 (0) 117 980 9020. |
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Bitconnect even contaminating the investing.com board.  |
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Bitconnect was obviously the first lending platform, and the most successful so far
Yes, very successful for the scammers. Bagholders - not so much. Not true. The first time BCC sold ICO directly to public is was sold at $0.50 yes only 50 cents. All those who bought could have sold BCC for over $300. And most of them did. Only idiots who watched Craig Grant ads on YouTube and jumped in and bought at $300 were ripped off. On related news I sold all the rest of my bitcoins around $10k (I also sold over ten a month ago around $13k). This recent rise above $10700 resistance only to again fall straight through means I've had enough of this shit lol (sold my last one at $10640). Apparently Richard Heart thinks it's all over for a couple of years too so not going to bother with it. I still have a bitcoin left over but it's in Ethereum at the mo plus I put close to a bitcoin in Falcon the other day lol. So hopefully these lending platform will give me more than a bitcoin a month in profits (at current rates) since I also have a bitcoin's worth of loans in lendconnect (the other working lending platform) that pays a minimum of 1.5% per day so close to half a bitcoin a month. I was lucky in that the lendconnect loan cost me well under $1k as I bought the tokens around 25cents before the lending started.
Happy bagholding your bitcoins people! |
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