[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[suchmoon]

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value. It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

Bitcoin can be used for a lot of things. Bitconnect couldn't be used for anything other than their lending ponzi scheme.

All tokens don't really have any other backing other than supply and demand. At least bitconnect's model always worked despite all the bad press and made many people very rich.

It doesn't seem to be working anymore.

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).

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? 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!  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 doesn't even include the extra interest they also paid). Any sane person would prefer the bitconnect model than the bitcoin model. They shut down due to all the idiots saying they were a Ponzi.

No. It collapsed because it's a ponzi. You can't sustain a 0.25% daily rate and Bitconnect just proved that.

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

That's just mathematically impossible. Nothing can go up all the time. And Bitconnect is welcome to refund the investments, there is nothing that could prevent them from doing so if they have the funds. But you know very well they won't. They're still trying to rope people into their next scheme, which somehow is still going on despite the C&Ds.

[gwestcot]

and now it is back $19. Is there any chance for a comeback or not? Whatever you read in the news these days Bitconnect is said to be dead and it's hard to imagine that there is a chance for revival. Any insider knowledge here proving the opposite?

Well  have you seen how fast BitconnectX sell out the ICO each day? I don't think BCC will be that low for long.

According to the Texan Cease and Desist, staking coins are a security lol. Not just the lending haha.  Are PoS coins illegal now in USA? I thought Ethereum moved to that?

Sigh... all it means is that if it is a security then you need to register it and that means you have certain reporting requirements. Nothing is illegal so please stop spreading lies all of the time. You are either a troll or some special kind of stupid. At any rate, may god bless you.

[AGM76]

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value. It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

Bitcoin can be used for a lot of things. Bitconnect couldn't be used for anything other than their lending ponzi scheme.

Bitconnect coin (BCC) is a lot faster and cheaper to transact than bitcoin.......so bitcoin should be technically worse unless I'm mistaken?

[AGM76]

and now it is back $19. Is there any chance for a comeback or not? Whatever you read in the news these days Bitconnect is said to be dead and it's hard to imagine that there is a chance for revival. Any insider knowledge here proving the opposite?

Well  have you seen how fast BitconnectX sell out the ICO each day? I don't think BCC will be that low for long.

According to the Texan Cease and Desist, staking coins are a security lol. Not just the lending haha.  Are PoS coins illegal now in USA? I thought Ethereum moved to that?

Sigh... all it means is that if it is a security then you need to register it and that means you have certain reporting requirements. Nothing is illegal so please stop spreading lies all of the time. You are either a troll or some special kind of stupid. At any rate, may god bless you.

So if a PoS coin registered with that state they would be legal? I don't know how it works but assumed they wouldn't be able to register or wouldn't be accepted.
Obviously it's just the opinion of that state and probably doesn't apply to other states.

[CryptToad]

I can't imagine anyone using BTC to buy BCCX.
Anyone can buy BCC for $20 to remit at $150, for now.
But apparently so few individuals are actually able to buy BCCX there is not any suffient demand for BCC to budge price towards $150.
BCCX sales could be chewing through a huge overhang of of bag holders trapped in BCC.
Further is Bitconnectx immediately selling its remitted BCC suppressing BCC value?

[lsdTether]

and now it is back $19. Is there any chance for a comeback or not? Whatever you read in the news these days Bitconnect is said to be dead and it's hard to imagine that there is a chance for revival. Any insider knowledge here proving the opposite?

Well  have you seen how fast BitconnectX sell out the ICO each day? I don't think BCC will be that low for long.

According to the Texan Cease and Desist, staking coins are a security lol. Not just the lending haha.  Are PoS coins illegal now in USA? I thought Ethereum moved to that?

Sigh... all it means is that if it is a security then you need to register it and that means you have certain reporting requirements. Nothing is illegal so please stop spreading lies all of the time. You are either a troll or some special kind of stupid. At any rate, may god bless you.

So if a PoS coin registered with that state they would be legal? I don't know how it works but assumed they wouldn't be able to register or wouldn't be accepted.
Obviously it's just the opinion of that state and probably doesn't apply to other states.

This is exactly why you are dangerous, AGM76. You can construct seemingly correct sentences, but your reading comprehension and general understanding of how the real world works is simply below par.

That is not what he is saying.

On some level you actually remind me of one Donald Trump. This is not a compliment, by the way.

[Terra_Anon]

It will be down to $0 and will be forgotten. Very sad to those who have lost money for it.

right

I have tried to transfer my coins/tokens on a different EXCH but it never pushed thru. Now they are still at my BCC wallet and current price is @ $16, wherein it was valued at $286. It's sad and frustrating if we can't get them back. I surely learned a lot from this Experience.

[AGM76]

and now it is back $19. Is there any chance for a comeback or not? Whatever you read in the news these days Bitconnect is said to be dead and it's hard to imagine that there is a chance for revival. Any insider knowledge here proving the opposite?

Well  have you seen how fast BitconnectX sell out the ICO each day? I don't think BCC will be that low for long.

According to the Texan Cease and Desist, staking coins are a security lol. Not just the lending haha.  Are PoS coins illegal now in USA? I thought Ethereum moved to that?

Sigh... all it means is that if it is a security then you need to register it and that means you have certain reporting requirements. Nothing is illegal so please stop spreading lies all of the time. You are either a troll or some special kind of stupid. At any rate, may god bless you.

So if a PoS coin registered with that state they would be legal? I don't know how it works but assumed they wouldn't be able to register or wouldn't be accepted.
Obviously it's just the opinion of that state and probably doesn't apply to other states.

This is exactly why you are dangerous, AGM76. You can construct seemingly correct sentences, but your reading comprehension and general understanding of how the real world works is simply below par.

That is not what he is saying.

On some level you actually remind me of one Donald Trump. This is not a compliment, by the way.

You mean this guy: https://www.youtube.com/watch?v=u-yLGFuu2dc  (he's saying Trump is a 'VERY STABLE GENIUS' btw haha)



I think he's misunderstood due to his personality type.

I did borrow a phrase for bitconnect earlier that people used for Trump though (Trump Derangement Syndrome and Bitconnect Derangement Syndrome). In other words they both make people go crazy.

Here is the bit where he mentions Trump Derangement Syndrome: https://youtu.be/u-yLGFuu2dc?t=890

[suchmoon]

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value. It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

Bitcoin can be used for a lot of things. Bitconnect couldn't be used for anything other than their lending ponzi scheme.

Bitconnect coin (BCC) is a lot faster and cheaper to transact than bitcoin.......so bitcoin should be technically worse unless I'm mistaken?

Just about any other coin is "faster and cheaper to transact than bitcoin", what does that have to do with the subject of ponzi?

You said Bitcoin can't be used for anything, which is a blatant lie and a sordid attempt at whataboutery. Bitcoin can be used for many things, Bitconnect only exists as a vehicle for a collapsed ponzi scheme.

[Islapdonkey]

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value. It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.

Bitcoin can be used for a lot of things. Bitconnect couldn't be used for anything other than their lending ponzi scheme.

Bitconnect coin (BCC) is a lot faster and cheaper to transact than bitcoin.......so bitcoin should be technically worse unless I'm mistaken?

Am surprised some form of karma hasn't given you anal cancer and stroke at the same thing. I wonder how much you been paid to hype this/ or maybe you just hold a boatload and in that situation just own up to your fuck up and not try and drag others into the boat. I would hate to deal with you in real life, type to probably pimp your mother out, if it means you can earn a dollar.

[Smartunit]

How does it work?

[sumangs]

Does the collapsing of your coin giving us a hint that your service is a scam? The price of bitconnect on coinmarketcap collapsed. If this is a dump then it's ok for me to buy and wait for it to grow. But if the all bitconnect team are just popping their bubble and turned their project as scam then the investors should take action.

[BRPINDIA]

Again, the lending wasn't a Ponzi

It was a ponzi. They advertised unrealistic return rates and last bagholders didn't get their money back. Your mental gymnastics can't change that fact.

Again another nutty one. So if you're holding bitcoin and all the whales dump it doesn't it make it the same thing? There is nothing that's going to keep the price of bitcoin up if everyone sells it at the same time.

You're missing the point. Assets go up and down in price. That doesn't make them a Ponzi. It isn't the fact that the price of BCC collapsed 90% in a few hours that made the lending platform a Ponzi. That's a result of it being a Ponzi, not a cause.

What makes it a Ponzi is that it promised to pay anyone who invested more than $10k at least 0.25% per day in USD terms. You keep saying there was no guaranteed daily interest, but there was for all but the smallest loans.

That is what made it a Ponzi. They were paying at least 0.25% per day to their biggest lenders with no way of sustaining those payments in the long term.

You seem to think that it wasn't a Ponzi because they were able to pay the interest due to the fact that their token kept going up in price. Do you not see that that isn't sustainable, that the token would eventually stop going up in price, and that when it did they would eventually be unable to continue paying 0.25% compound interest per day? The only reason their token kept going up in price was because the demand for the token (ie. new people joining the scam) was greater than the supply (ie. people cashing out of the scam). When the supply of new suckers fell below the rate at which people were cashing out, BitConnect's profit reached its peak, and that is exactly the correct time to pull the plug and run off with the profits. "They made a profit while the scam was growing therefore it wasn't a scam" isn't a valid argument, but it seems to be what you are trying to get away with.

You obviously don't understand that the lending system made them less likely to dump any coins (as it would stop the lending being profitable for them - to say the lending was a Ponzi when it was profitable is ludicrous) but nevermind. Bitcoin is obviously more of a Ponzi.

All Ponzis are profitable for their owners. You still didn't provide any evidence for Bitcoin itself being a Ponzi.

Ponzis promise returns to their victims. Bitcoin promises nothing of the kind to anyone.

I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value. It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it. All tokens don't really have any other backing other than supply and demand. At least bitconnect's model always worked despite all the bad press and made many people very rich. 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).

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? 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!  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 doesn't even include the extra interest they also paid). Any sane person would prefer the bitconnect model than the bitcoin model. They shut down due to all the idiots saying they were a Ponzi. Look at the housing market and how many idiots also believe it always goes up. 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. 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 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.

Bad ending

[AGM76]

Does the collapsing of your coin giving us a hint that your service is a scam? The price of bitconnect on coinmarketcap collapsed. If this is a dump then it's ok for me to buy and wait for it to grow. But if the all bitconnect team are just popping their bubble and turned their project as scam then the investors should take action.

No I already showed there was no massive volume on the exchanges in the dump. It's gone down again now but very low volume again if you look on coinmarketcap. Some people are probably selling their coins still as it was only a few days ago the lending ended.


On the other thing about refunds, I've heard three different youtubers (including Craig and Trevon) talk about this refund for people coming in late and I don't really watch anything on youtube so I'm thinking there is something to it

[gytal]

It's nice to see how the project develops!

[bambarmia]

It's nice to see how the project develops!

What are you smoking dude?

[shogun47]

and now it is back $19. Is there any chance for a comeback or not? Whatever you read in the news these days Bitconnect is said to be dead and it's hard to imagine that there is a chance for revival. Any insider knowledge here proving the opposite?

Well  have you seen how fast BitconnectX sell out the ICO each day? I don't think BCC will be that low for long.

According to the Texan Cease and Desist, staking coins are a security lol. Not just the lending haha.  Are PoS coins illegal now in USA? I thought Ethereum moved to that?

You often here the term "confidence game" in crypto when it comes to prices. I am pretty sure that confidence in Bitconnect is completely destroyed now. Some might want to give it a gamble and buy now to hopefully sell higher, but I don't see how people would want to take a long term position in this project anymore.

[Team YTC]

It's nice to see how the project develops!

What are you smoking dude?

I'm quessin' it's somethin' nice. 

[AGM76]

Bitconnect is about $18 again.... I bought another 100 lol

[zintips]

I can't imagine anyone using BTC to buy BCCX.
Anyone can buy BCC for $20 to remit at $150, for now.
But apparently so few individuals are actually able to buy BCCX there is not any suffient demand for BCC to budge price towards $150.
BCCX sales could be chewing through a huge overhang of of bag holders trapped in BCC.
Further is Bitconnectx immediately selling its remitted BCC suppressing BCC value?

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

you have a very valid point and if you go by their past actions and history, that is most likely what they are doing. It makes sense: "an endless merry go round based on hope and deceit in return!"