[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[wander.me]

I've always been curious how Bitconnect coin works and how it can be sustainable.

There are a lot of videos about Bitconnectcoin in their official youtube channel go check it out, they also have their own site where you can access the community, Bitconnectcoin is so popular there are thousands of articles about it to search the real description of Bitconnect and decide for yourself only invest what you can afford to lose.

but why??? whats the real use?

[1714743400]

1714743400

[cvdesty]

Interesting video addressing the Texas VS Bitconnect issue: https://www.youtube.com/watch?v=DHaOZLr_a4M

[nukklehead]

Govts are the most insecure thing on the planet.   And they are control freaks.   If they can't define it, they can't control it, and if they can't control it, they go nuts.

Dunno how this will pan out.   Govts tend to win, at least in the short term.

add:   I just logged into my bitconnect account and they have a statement -- they are complying with the Texas order and they have stopped accepting deposits from the state of Texas.   Everyone will continue to receive their payouts.   They also required me to specify which state I live in.

The point I'm making is, if Bitconnect was trying to skirt the law, they wouldn't ask that we certify which state we live in.

[cvdesty]

Govts are the most insecure thing on the planet.   And they are control freaks.   If they can't define it, they can't control it, and if they can't control it, they go nuts.

If they don't get their money, they shut things down. And the one who pays the most, gets his way. How much do you think the banksters are paying to hinder our progress in the crypto space?

It reminds me of how U.S. residents are often left out in the cold when it comes to most ICOs, because the SEC discriminates against us common folk. But if you are rich (according to their standards), you get a free pass. And most politicians are rich. What does that tell you?


This is likely the beginning of the end of Bitconnect and similar lending programs, for U.S. residents. The banksters will have their way (for now).

[nukklehead]

This is likely the beginning of the end of Bitconnect and similar lending programs, for U.S. residents. The banksters will have their way (for now).

I am planning to pay taxes on my gains, once I convert them back to $USD.    But....

I was thinking the same, but, what we've already seen, is, govt can only maybe stop people from making new loans / deposits.   How could they possibly stop Bitconnect from paying out to people?

Banning stuff doesn't erase things from existence.

[phuckit17]

BitConnect in Hot Water
Throughout the write-up, the state of Texas lists a number of details surrounding the BitConnect investment model, including its rate of return, lending program, and staking program.
These findings, the Commissioner holds, meet all the criteria for a traditional security, and as such, BitConnect is currently selling its assets illegally:
“Respondent BitConnect is violating Section 7 of the Texas Securities Act by offering securities for sale in Texas at a time when the securities are not registered with the Securities Commissioner.”
The report also found that BitConnect is engaging in fraud for failing to reveal the “identity of its principals” and “the source of funds that will be used to pay investors interest at a rate of 120% per year,” among other obscurities.  Further, the order condemns BitConnect for its “materially misleading and deceptive statements” that market the platform as a safe and risk-free option for high return investments.
In response to these findings, the Commissioner concludes the report by ordering BitConnect to suspend its operations within the state:

 RUN FOREST RUN !

[cvdesty]

How could they possibly stop Bitconnect from paying out to people?

But that's essentially what they have done to U.S residents living in Texas (likely more states to come). Yes; they can't stop Bitconnect from paying out (for now), but what is going to happen when the loan period expires and capital is returned? The returned capital will be the final payout. No more lending = no more paying out. Thus, the government successfully severs U.S. residents from Bitconnect.

On the positive side, this is now an opportunity for Bitconnect to prove itself. If it's not a scam, then they should do whatever they have to do to comply with the states to continue doing business with U.S. residents. If they do that, most of the FUD directed at Bitconnect will be put to rest.

If they don't make an effort to comply, then that should give people all the more reason not to trust Bitconnect.

[DeZZZ]

Very fast payout from your favorite project
   2018-01-05 07:14:25 PM      0.34578429   Sell BCC
UNITS TOTAL BCC : 0.34578429, UNITS FILLED BCC : 0.34578429, PRICE : 0.02455700,
TOTAL BTC : 0.00849142, FEES BTC : 0.00002123

[KwizatzHaderach]

Bitconnect is the biggest ponzi scheme in crypto. Business model profits from greedy investors luring in newbies who will be the bagholders in the end.

[cvdesty]

Very fast payout from your favorite project
   2018-01-05 07:14:25 PM      0.34578429   Sell BCC
UNITS TOTAL BCC : 0.34578429, UNITS FILLED BCC : 0.34578429, PRICE : 0.02455700,
TOTAL BTC : 0.00849142, FEES BTC : 0.00002123

This comment adds no value to the present discussion. Please stop.

[oportunis]

How could they possibly stop Bitconnect from paying out to people?

But that's essentially what they have done to U.S residents living in Texas (likely more states to come). Yes; they can't stop Bitconnect from paying out (for now), but what is going to happen when the loan period expires and capital is returned? The returned capital will be the final payout. No more lending = no more paying out. Thus, the government successfully severs U.S. residents from Bitconnect.

On the positive side, this is now an opportunity for Bitconnect to prove itself. If it's not a scam, then they should do whatever they have to do to comply with the states to continue doing business with U.S. residents. If they do that, most of the FUD directed at Bitconnect will be put to rest.

If they don't make an effort to comply, then that should give people all the more reason not to trust Bitconnect.

If you are smart you can avoid this. We are in crypto after all... You can open endless amount of wallets, transfer from anonymous exchange (Binance has 2 BTC limit to be anonymous) to BCC, order a debit card and spend money via debit card.

You can open an offshore bank account. In crypto everything can be anonymous... No government can stop you from investing if you want to invest...

US citizens can invest even in ICO that way. You don't fill the information KYC and instead of sending 1ETH or 1BTC you send small amounts. For example you can send 100x 0.1 ETH from 100 wallets. It's all your money but spreaded trough more wallets. Nobody will know it's coming from you... And you can do that forever...

There is always a way to avoid regulation, that is why crypto was created, so we can be regulated by ourselves and not by state regulators...

[iamlds08]

Bitconnect is the biggest ponzi scheme in crypto. Business model profits from greedy investors luring in newbies who will be the bagholders in the end.

agree! thanks texas for isuing cease and deceased order to this ponzi scheme that destroying the image of bitcoin and cryptocurrencies!

[cvdesty]

...so we can be regulated by ourselves and not by state regulators...

I get it; but most ICO creators don't agree. That's why they continue to shove KYC forms down our throats and make us check boxes to confirm we are not U.S. residents. I am an honest man, so I don't participate: I am not going to say I am not a U.S. resident when I am a U.S. resident.

The system is not fair. All people should have an equal opportunity to invest and prosper.

[oportunis]

Well if you play by the rules than you will be always in the "rat" race. Do you think that all those who are in power now played by rules? They found a loophole and seized opportunity, banked profits and now they are one class higher... They than filled that loophole with new laws, so nobody can copy their same approach.

Just look back at how big dynasties like Rockfeller, Rotschild etc. came to power. They profited back than of ignorance, infiltrated their own people into congress, banks etc. New laws passed by their choosing...

 Even with crypto you will get "screwed" and it's already happening. XRP in hand with bankers. You sell them your ETH, BTC so they get it cheap inflate the bubble and than people will be left with shitcoin and bankers will end with promising coins. Most will scratch their head wondering how could this happen...

Invest in what you want to invest. If you are smart you will find a way, same like the richest investors do... 

[Bombardier]

1/2 Our counterparts at the Texas State Securities Board have ordered BitConnect, a $4B cryptocurrency promoter, to halt its fraudulent sales.
https://twitter.com/FortWorth_SEC/status/949317164867219457

[younglord33]

Congrats to the people who made a lot of money off this coin, it was one of the biggest gainers in 2017. To all the recent investors, or people who haven't gotten out yet: I'll come back when this shitcoin is at a dollar hahaha bagholders

[nukklehead]

1/2 Our counterparts at the Texas State Securities Board have ordered BitConnect, a $4B cryptocurrency promoter, to halt its fraudulent sales.
https://twitter.com/FortWorth_SEC/status/949317164867219457

this is silly because bitconnect does not engage in fraudulent sales.   and I bet the world won't care much about what TX has to say.

[Bombardier]

1/2 Our counterparts at the Texas State Securities Board have ordered BitConnect, a $4B cryptocurrency promoter, to halt its fraudulent sales.
https://twitter.com/FortWorth_SEC/status/949317164867219457

this is silly because bitconnect does not engage in fraudulent sales.   and I bet the world won't care much about what TX has to say.

I didn't say it will shut down. just posted some info about bcc...

[nthnode404]

People should do more research when deciding to invest in or discuss anything. Bitconnect states in their "Terms of use" that they provide "No Solicitation or Advice" and do not deal with securities. Also, Bitconnect deals in Bitcoin in and Bitcoin out. Did Texas ban Bitcoin?

[nthnode404]

Whoops...

https://www.ssb.texas.gov/sites/default/files/BitConnect_ENF-18-CDO-1754.pdf

Not so fast. People should do more research when deciding to invest in or discuss anything. Bitconnect states in their "Terms of use" that they provide "No Solicitation or Advice" and do not deal with securities. Also, Bitconnect deals in Bitcoin in and Bitcoin out. Did Texas ban Bitcoin?