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Author Topic: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency  (Read 371611 times)
YuTü.Co.in
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January 21, 2018, 09:01:41 PM
 #5561

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

I concur! Why do people care about a scam coin that affects the entire crypto space built so that Investards can give their precious to rogue agents, then later come back cryin' to the very folks who told them not to touch the stove - again - because ... wait for it ... it's still HOT!!!

On a bright side, Investards, BitConnect is most likely to give everybody their money back given that they have over U$70M worth of bitcoin in their coffer - NOT!!! (rhymes with HOT!!!).


"Now I'll never see that hundred dollars I invested in BCC so to afford new tattoos on my face."

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AGM76
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January 21, 2018, 09:02:47 PM
 #5562

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

What part of illegal ponzi scam are you not getting?

Of course it wasn't illegal or they wouldn't be operating. The UK financial conduct authority (FCA) do not care about these cryptos and have told me they have no control and do not even seem concerned. In UK law they are simply software utilities people are buying. The fact that people buy and sell them in a market is irrelevant. FCA have warned people against investing into bitcoin but what else do you expect them to do over something they don't control.

Bitconnect were no ponzi scheme and the lending could have carried on for much longer as they were sharing the profits of the coin price gain. The price of the coin would have kept going up until the bubble burst, a bit like the housing market. It could have continued still after that. What do you think bitcoin is going to do when it crashes? It will go back up again. The difference is the housing market can't go down to zero as there are actual unique uses for houses. Bitcoin has thousands of competitors that do the same thing and often a lot better.

Maybe you should tell this website they are promoting illegal ponzis if you really believe it: http://icoreview.site (they only promote lending platforms and not other ICOs)
Cryptobaton
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January 21, 2018, 09:26:08 PM
 #5563

If 30% of all bitcoin will sale immediately - price drop to 100$, like bit connect.
And stupid people's will say bitcoin ponzi;)))))

Crestington
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January 21, 2018, 09:30:24 PM
 #5564

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

What part of illegal ponzi scam are you not getting?

Of course it wasn't illegal or they wouldn't be operating. The UK financial conduct authority (FCA) do not care about these cryptos and have told me they have no control and do not even seem concerned.

A thief steals your money but it's not illegal because he hasn't been caught.

These people supporting these scams are no better than the operator himself, do you guys realise that you are helping perpetrate fraud?

I really wish I could say these are all puppet accounts but something tells me they aren't and it makes me sad to see such a level of ignorance.
Shishir99
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January 21, 2018, 09:32:14 PM
 #5565

great project, looking forward to it and wishing your project a big success in the near future. goodluck dev/team.
Lol man  Grin
Is Bitconnect a great project really!
Don't be confused man it is a proved scam.
Lots of people have lost their money.

Platio
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Platio
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January 21, 2018, 09:41:11 PM
 #5566

great project, looking forward to it and wishing your project a big success in the near future. goodluck dev/team.
Lol man  Grin
Is Bitconnect a great project really!
Don't be confused man it is a proved scam.
Lots of people have lost their money.

Just another alt account trying to build posts...not reading the threads, just posting bs
lightJimbo
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January 21, 2018, 10:10:00 PM
Last edit: February 09, 2018, 09:15:39 AM by lightJimbo
 #5567

 Huh
suchmoon
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January 21, 2018, 10:15:15 PM
 #5568

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

What part of illegal ponzi scam are you not getting?

Of course it wasn't illegal or they wouldn't be operating.

Oh great, that's all crime prevented then. Just announce that crime is illegal and criminals will stop doing it.

The UK financial conduct authority (FCA) do not care about these cryptos and have told me they have no control and do not even seem concerned. In UK law they are simply software utilities people are buying. The fact that people buy and sell them in a market is irrelevant. FCA have warned people against investing into bitcoin but what else do you expect them to do over something they don't control.

Crypto is not a crime. Ponzi scheme is a crime.

Bitconnect were no ponzi scheme and the lending could have carried on for much longer as they were sharing the profits of the coin price gain. The price of the coin would have kept going up until the bubble burst, a bit like the housing market. It could have continued still after that. What do you think bitcoin is going to do when it crashes? It will go back up again. The difference is the housing market can't go down to zero as there are actual unique uses for houses. Bitcoin has thousands of competitors that do the same thing and often a lot better.

Maybe you should tell this website they are promoting illegal ponzis if you really believe it: http://icoreview.site (they only promote lending platforms and not other ICOs)

You know you lost your argument when you have to invoke some random shitcoining site as your "proof". Yes, they're promoting BCC-like scams. So?

AGM76
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January 21, 2018, 10:26:26 PM
 #5569

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

What part of illegal ponzi scam are you not getting?

Of course it wasn't illegal or they wouldn't be operating.

Oh great, that's all crime prevented then. Just announce that crime is illegal and criminals will stop doing it.

The UK financial conduct authority (FCA) do not care about these cryptos and have told me they have no control and do not even seem concerned. In UK law they are simply software utilities people are buying. The fact that people buy and sell them in a market is irrelevant. FCA have warned people against investing into bitcoin but what else do you expect them to do over something they don't control.

Crypto is not a crime. Ponzi scheme is a crime.

Bitconnect were no ponzi scheme and the lending could have carried on for much longer as they were sharing the profits of the coin price gain. The price of the coin would have kept going up until the bubble burst, a bit like the housing market. It could have continued still after that. What do you think bitcoin is going to do when it crashes? It will go back up again. The difference is the housing market can't go down to zero as there are actual unique uses for houses. Bitcoin has thousands of competitors that do the same thing and often a lot better.

Maybe you should tell this website they are promoting illegal ponzis if you really believe it: http://icoreview.site (they only promote lending platforms and not other ICOs)

You know you lost your argument when you have to invoke some random shitcoining site as your "proof". Yes, they're promoting BCC-like scams. So?

You might have noticed that many of the promoters of bitconnect got together to form a new UK company recently (in the last 6 months I think, can't remember when). If it was illegal, I'm sure they wouldn't have been putting their names down (literally dozens of people were listed in the company filing).

Obviously, bitconnect lending wasn't a Ponzi as they were profiting from the lending system and didn't need to use BCC tokens from new members to pay old ones (since they always profited, they didn't even need to start using their vast BCC reserves which staked millions). Remember the lending was only in BCC tokens and that is all it involved. Bitconnect didn't even need to have an exchange or BTC wallet to operate their lending. Some lending platforms only started on external exchanges but I suppose an internal exchange gives you more control on the price.
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January 21, 2018, 10:32:31 PM
 #5570

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value.

The same is true of lots of kinds of assets. People hold Amazon stock because they think it is going to go up in value. Does that mean Amazon stock is a Ponzi? No, of course it doesn't. Your argument makes no sense.

It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

That's not true at all. I regularly use Bitcoin to pay for goods and services. If you a willing to wait for confirmations it doesn't even cost too much. I recently spent $22k worth of BTC for a $2 fee. That's less than 0.001% fee. I don't know of any other payment system with such low fees for large payments.

All tokens don't really have any other backing other than supply and demand.

That's not true. Some tokens are backed. USDT for instance is backed by USD. You really ought to fact-check your statements before posting.

At least bitconnect's model always worked despite all the bad press and made many people very rich.

Always worked? Is it still working now? I thought they cancelled their Ponzi lending program leaving many thousands of people holding the bag with almost worthless BCH tokens.I wouldn't say that is "working" for anyone other than the scam operators themselves.

I didn't invest much in it. Most of mine is in DavorCoin as they started by paying 2% a day and that only opened at the end of November (4 times as much as I ever invested in bitconnect but I still got all my investment back from them overall).

I've not looked at DavorCoin, but if there were paying 2% per day then I would be amazed if they're not just another Ponzi scam. I would recommend getting your money out of ttere as soon as possible, because there are only two possible outcomes: 1) you make a loss (which sucks) or 2) you make a profit from victims who stayed in too long (which sucks).

By the way, they obviously could always change terms for new loans instead of guaranteeing 0.25% at least for $10k plus forever but do you really think that is excessive?

They could change the terms. They did, in fact. The new terms are "no interest at all for anyone - no loans for anyone - forced buying of our BCC token at $363 even though it's worth 10 times less than that on the market". I really think 0.25% per day guaranteed is excessive. Find any program anywhere that pays 0.25% or more in USD terms without a limit on investment size that isn't a Ponzi. It just doesn't exist. 0.25% per day over 1 year compounded daily is 149%. No investment program guarantees 149% profit per year. Show me any legitimate operation promising to more than double your money each year. You can't.

If you work it out it's less than 2.5 times the investment amount a year. I'm pretty sure people who hold bitcoin expect it to go up more than that each year, some speculating it will go up to a millions dollars!

There's a difference between expecting a price to double and guarantee that it will. I wouldn't be surprised if the price of BTC doubles in the next year, but I also wouldn't be surprised if it halved. I'm definitely not going to promise to double anyone's USD value for them by holding their BTC for a year. What if the price goes down? What happens to my promise then? I'd be no better than BitConnect, keeping my promise while the price of BTC is rising, then cancelling it when the price drops.

As already mentioned, the bitconnect model also gave value by guaranteeing the investment amount in USD so people could invest in cryptos without worrying about their portfolio going down in value

that was the guarantee, but in practice it didn't work out. People who put $10k in recently ended up with less than $600 as BitConnect forced they to buy BCC tokens at $363 each. Those tokens are now trading for around $20 each. So much for not having to worry about your portfolio! Many people were almost totally wiped out because they believed BitConnect's guarantee.

Any sane person would prefer the bitconnect model than the bitcoin model.

Why? The BitConnect model was obviously unsustainable. You can't pay out 0.25% per day forever in dollar terms unless you're holding an asset which grows in value by more than 0.25% per day in dollar terms. For a while BCC and BTC were doing that, so BitConnect could keep paying and make a profit at the same time. But when BCC stopped growing in price it started costing BitConnect to honor their guarantee - and so they stopped. The Bitcoin model doesn't involve trusting some third party to keep its impossible promise, and so is inherently better.

They shut down due to all the idiots saying they were a Ponzi.

No, they shut down because it is mathematically impossible to keep paying 0.25% per day in dollar terms when your assets aren't growing at least that fast. There were a Ponzi. That's why people kept saying they were a Ponzi. Ponzi's almost always blame "FUD from the community" when they shut down. Doesn't make it true.

Look at the housing market and how many idiots also believe it always goes up.

Nothing always goes up. There are idiots everywhere.

Bitconnect's model wouldn't have failed as there was no reason for the price not to go up all the time until something forced them to end it.

BCC price only goes up as demand for it goes up. And demand for it only goes up if you can keep bringing new victims into the scam. Eventually you run out of idiots and the price falls. That's what happened.

Coin holders may have lost out in the end when the bubble burst but that's just the same as the current economy which goes in cycles of boom and bust. The difference is bitconnect would have had enough collateral to refund the guaranteed investments if they were allowed to run normally (remember that they wouldn't necessarily need to refund them all at once and the coin would probably rise again slowly after a crash - in the long term the lending could still just carry on after a BCC crash if they didn't face any legal issues). Obviously all coin holders take the risk of a crash but the investments would have been easily guaranteed if it wasn't made to shut down.

I've explained already why they wouldn't ever be able to refund everyone's dollar value.

I forgot to mention that apparently bitconnect are working on refunding those who came in the last couple of months and didn't have enough time to get their investment back... not sure what they will do but they certainly have enough profit to do that.

"Apparenty"? I'll believe it when I see it. I would hope that most victims have learned their lesson and no longer trust the word of known scammers. I would recommend selling any BCC as soon as possible while the price is still non-zero.

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January 21, 2018, 10:33:29 PM
 #5571

Another day, another time out while trying to exchange BCC for BCCX. Try again tomorrow.
Honestly they should just automatically gift us BCCX at 8 to 1 ratio. 3:1 is still a huge haircut.

===============

I agree. Same here. It does not matter what you do, sign early, buy BCCX at 9:00:01, nothing happens? screen freezes. Sorry all coins sold out! day after day.  We are dealing with robots and it looks like they just want the BCC coins inside trapped with the $150 carrot.

thb
i have tried this method:

https://www.youtube.com/watch?v=wq6tqXkHaNE

quite simply. and finally hour ago i was lucky to buy it.

Goodluck to yall!


wich time zone you are Huh Thanks
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January 21, 2018, 10:39:40 PM
 #5572

i see a good future of this project, goodluck and i wish this projec a big success in the near future.
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January 21, 2018, 10:40:07 PM
 #5573

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

What part of illegal ponzi scam are you not getting?

Of course it wasn't illegal or they wouldn't be operating. The UK financial conduct authority (FCA) do not care about these cryptos and have told me they have no control and do not even seem concerned.

A thief steals your money but it's not illegal because he hasn't been caught.

These people supporting these scams are no better than the operator himself, do you guys realise that you are helping perpetrate fraud?

I really wish I could say these are all puppet accounts but something tells me they aren't and it makes me sad to see such a level of ignorance.
I was thinking the exact same thing.
Why are people still have the fog pulled over their eyes to be so blinded?

Do they just have a glimmer of hope that their bcc stash of coins will be worth what they were at before this ponzi/pyramid scheme was outed and deceased by the governments to stop it or they will sue them all?

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January 21, 2018, 10:45:42 PM
 #5574

i see a good future of this project, goodluck and i wish this projec a big success in the near future.

Ha not sure if you clicked on the right thread, or if you're just trying to get your activity up!

Google bitconnect and choose any news article and you'll see this project is done - I'm still surprised it was in the $30usd range even after the news stories hit.
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January 21, 2018, 10:49:30 PM
 #5575

I've heard three different youtubers (including Craig and Trevon) talk about this refund

Listening to Craig and Trevon is what got a lot of people into this mess in the first place. I was trying to warn Trevon's viewers about BitConnect until he banned me from commenting on his videos. He didn't care whether it was a Ponzi or not just so long as that sweet sweet referral money kept pouring in.

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January 21, 2018, 10:51:17 PM
 #5576

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value.

The same is true of lots of kinds of assets. People hold Amazon stock because they think it is going to go up in value. Does that mean Amazon stock is a Ponzi? No, of course it doesn't. Your argument makes no sense.

It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

That's not true at all. I regularly use Bitcoin to pay for goods and services. If you a willing to wait for confirmations it doesn't even cost too much. I recently spent $22k worth of BTC for a $2 fee. That's less than 0.001% fee. I don't know of any other payment system with such low fees for large payments.

All tokens don't really have any other backing other than supply and demand.

That's not true. Some tokens are backed. USDT for instance is backed by USD. You really ought to fact-check your statements before posting.

I forgot to mention that apparently bitconnect are working on refunding those who came in the last couple of months and didn't have enough time to get their investment back... not sure what they will do but they certainly have enough profit to do that.

"Apparenty"? I'll believe it when I see it. I would hope that most victims have learned their lesson and no longer trust the word of known scammers. I would recommend selling any BCC as soon as possible while the price is still non-zero.


hmmm are you sure you were able to send multiple bitcoins for $2 haha  I don't think that's possible. I know I always end up paying hundreds of dollars when sending more than a few BTC. Maybe I'm doing something wrong but I doubt it.


Also, I've heard of tether but many people are sceptical about it really being backed by real money. They also have very predatory terms which means they reserve the right to confiscate funds for no real reason.


Also, the last point you made says it all. Investors haven't lost any money yet unless they sell their tokens cheap. If there wasn't so much backlash against the company (which always paid people the advertised daily interest) then they would still be open today and everyone would be making 30% per month etc. Don't you feel guilty about making everyone lose so much? Many people in bitconnect became very wealthy too as it was very easy. They may have got better investments in other ways but the bitconnect model would have carried on fine without the bad press.
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January 21, 2018, 10:58:49 PM
 #5577

Why do people care about a coin that does not affect them. If they are not invested in it then it doesn't affect them, they should take care of their own business. However, unless they are scared of it for some reason, then it makes sense. The competition is always scared of something that is/was more successful than them.

Scams like BitConnect affect all of crypto, giving it a bad name in general. The millions of dollars lost by newbies to this scam could otherwise have gone into legitimate coins rather than lining scammer pockets. Scams like this turn people away from crypto. If the first coin I "invested" in was BCC I'm pretty sure it would also be the last.

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January 21, 2018, 11:05:26 PM
 #5578

hmmm are you sure you were able to send multiple bitcoins for $2 haha  I don't think that's possible. I know I always end up paying hundreds of dollars when sending more than a few BTC. Maybe I'm doing something wrong but I doubt it.


Also, I've heard of tether but many people are sceptical about it really being backed by real money. They also have very predatory terms which means they reserve the right to confiscate funds for no real reason.


Also, the last point you made says it all. Investors haven't lost any money yet unless they sell their tokens cheap. If there wasn't so much backlash against the company (which always paid people the advertised daily interest) then they would still be open today and everyone would be making 30% per month etc. Don't you feel guilty about making everyone lose so much? Many people in bitconnect became very wealthy too as it was very easy. They may have got better investments in other ways but the bitconnect model would have carried on fine without the bad press.

The transaction fee does not depend on the amount. You're either really really dumb, or just can't stop lying, which to be fair is quite dumb too.

Bitconnect was not an investment. It was a scam, it collapsed, the last ones to hold the bag got stuck with near-worthless tokens. That's how these scams work. There is no feasible way for "everyone" to make 30% per month. Such investments don't exist. It's not "bad press" that made people lose their money. It's the scammers. With some help from shills like you.

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January 21, 2018, 11:11:23 PM
Last edit: January 21, 2018, 11:32:56 PM by AGM76
 #5579

Bitconnect was not an investment. It was a scam, it collapsed, the last ones to hold the bag got stuck with near-worthless tokens. That's how these scams work. There is no feasible way for "everyone" to make 30% per month. Such investments don't exist. It's not "bad press" that made people lose their money. It's the scammers. With some help from shills like you.

What I don't like, is idiots saying the scam 'collapsed' when they never collapsed. They always paid less BCC in interest than was lent to them in the lending system. It would have carried on fine without all these people saying it was a Ponzi etc. It is obvious to any sane person who isn't traumatised enough to have to believe these Ponzi stories to psychologically survive.

Also, as I explained before, to send just 6BTC from my wallet at a normal fee range (few hundreds satoshis per byte) I had to pay hundreds of dollars. My wallet wouldn't have charged me more than I needed to pay but obviously most wallets like electrum generate lots of inputs etc so the more you send the more the fee would be.

Oh I seem to deleted what I wrote before but basically those were normal charges for sending that amount of BTC from my wallet, in the last few days I gave examples to before.

Instead of just typing it I will copy and paste the images from electrum below from a couple of transactions in the last two days:

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January 21, 2018, 11:18:09 PM
 #5580

hmmm are you sure you were able to send multiple bitcoins for $2 haha  I don't think that's possible. I know I always end up paying hundreds of dollars when sending more than a few BTC. Maybe I'm doing something wrong but I doubt it.

The fee I paid was worth $2.25 at the time, and I spent over 1.6 BTC worth over $23k. I am certain of it. Based on the level of understand you display in this thread it seems quite likely to me that you don't understand much of anything including what fees are necessary to get transactions confirmed. It makes no difference what value you are sending, only the size of the transaction. I use SegWit to reduce the fees, but even without SegWit the fee wouldn't have been over $5.

Investors haven't lost any money yet unless they sell their tokens cheap.

That must be quite a relief to all the victims. Please explain in detail how they can get their money back if they haven't lost it.

If there wasn't so much backlash against the company (which always paid people the advertised daily interest) then they would still be open today and everyone would be making 30% per month etc. Don't you feel guilty about making everyone lose so much? Many people in bitconnect became very wealthy too as it was very easy. They may have got better investments in other ways but the bitconnect model would have carried on fine without the bad press.

It was a Ponzi. Some people get rich while others lose a fortune. That's how Ponzis work. I don't feel bad in the slightest. Hopefully some people took heed of my words and saved themselves from losing their savings to this scam. Ponzis can't "carry on fine" whether they get press or not. Exponential growth isn't sustainable in a finite universe.

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