[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[samsonn25]

With all the money and experience bitconnect had, they couldnt hire to get a decent running scamsite?  supposedly ethconneth.

I dont buy it.  smh  Conspiracy theory

[AGM76]

With all the money and experience bitconnect had, they couldnt hire to get a decent running scamsite?  supposedly ethconneth.

I dont buy it.  smh  Conspiracy theory

People thought bitconnect.com was just an affiliate but it's weird how it had the domain name and posted the same news stories...

Anyway, looking at the lending platforms Bitconnect seems to be the one with the highest price out of all of them still haah (Davor is barely a dollar and HomeBlockCoin is not much higher - Falcon still going at 60cents  but that seems to be doing better than before when it was 12cents etc)

It is possible to keep operating at low prices as long as there is unlimited amount of tokens to pay but the inflation will mean there won't be enough buyers after a while. The coin only goes up when there is demand and the lending needs to pay less tokens back to the lenders for the company to actually make a profit without lowering the token price.

[zintips]

In a Nutshell:

The real question is what happens if stocks and bond tumble, and the dollar does not go up. That would be the real crisis and one which would explain not only the record recent cryptocurrency bid, but also confirm the fact that the dollar's day as the world's primary reserve are numbered.

[alevlaslo]

Scam coins:

1) create a coin, the makers then buy it themselves at himself without investment, and as soon as the warrants for the purchase of sell all in one motion. Living example - BCC
 
2) create a coin with a huge premine and the creators give all every week for 7% airdrop, and as soon as there is a serious warrant for the purchase of sell a huge balance in one motion. A living example - BTX

[dishku]

I'm in huge shock to see some people are still defending this ponzi scam there is really insane. Google is our friend so anybody can make search on current situation and what future will be of those who are still buying soon they will get rekt. Anyway I'm feeling bad for new comers who are still buying this dead coin.

[AGM76]

I'm in huge shock to see some people are still defending this ponzi scam there is really insane. Google is our friend so anybody can make search on current situation and what future will be of those who are still buying soon they will get rekt. Anyway I'm feeling bad for new comers who are still buying this dead coin.

Most people know that all cryptocurrencies that don't share profits in some way are total Ponzi schemes (including bitcoin). I am pretty sure the lending platform popularity from a few months back caused bitcoin to go up in price so much. Now everyone is thinking there was something wrong with the platforms (when they weren't as Ponzi as most coins) the bitcoin price has gone down to new lows. All these lending platforms were receiving millions of dollars every day in the ICOs and there were dozens of them. All the FUD has caused bitcoin to crash also.

I suppose you can't blame anyone but all the complainers. Bitconnect was working fine and didn't dump any coins (it was a few hundred dollars still when it cancelled the lending). It wasn't even using its BCC reserves as they profited so much. Now all the other working platforms like Unix, Falcon, Davor, HomeBlockCoin, Exacoin etc are struggling not to go into reserves and the price is under $1 for them and inflation will just make it worse unless people stop fudding. Remember investors have tens of millions invested in these and nothing other than the complainers are making them possibly lose money. Lendconnect was still a few dollars last time I checked.

By the way, the biggest misconception I see people talking about is that they promised 1% daily returns but that was never the case. People started to expect that after the other lending platforms came out with even higher starting returns (Davor started at over 2% per day for many weeks but now is much lower...  0.08% has been the lowest).

Davor is still paying out BTC within minutes despite being down to 77cents now (just withdrew now). Nobody even did any loans for their millionaire loan competition cos people were saying it was an exit scam etc.

Bitcoin down to near $7k:

[suchmoon]

I suppose you can't blame anyone but all the complainers. Bitconnect was working fine and didn't dump any coins (it was a few hundred dollars still when it cancelled the lending). It wasn't even using its BCC reserves as they profited so much. Now all the other working platforms like Unix, Falcon, Davor, HomeBlockCoin, Exacoin etc are struggling not to go into reserves and the price is under $1 for them and inflation will just make it worse unless people stop fudding. Remember investors have tens of millions invested in these and nothing other than the complainers are making them possibly lose money. Lendconnect was still a few dollars last time I checked.

No, the scammers are making them lose money. And their own greed to some extent. All ponzis work "fine" for a while and all ponzis collapse when they run out of new suckers.

People will not stop "fudding" and "complaining" - otherwise known as "stating obvious facts" - as long as these scammers keep lying and scamming.

[AGM76]

https://www.trustnodes.com/2018/01/30/us-state-senators-introduce-bill-exempting-tokens-securities-laws

The eight page accessible and very readable bill says: “A developer or seller of an open blockchain token shall not be deemed the issuer of a security… if the token has not been marketed by the developer or seller as an investment; the token is exchangeable for goods or services; and the developer or seller of the token has not entered into a repurchase agreement of any kind or entered into an agreement to locate a buyer for the token.”

If this bill passes, it would be the first token specific law in the world passed by any elected legislative body. Its persuasive power, therefore, in any state or federal court, within and outside of US in free lands, might be considerable because it would be the only indication by the elected on how tokens should be treated.

[AGM76]

It is quite possible that Bitconnect being forced to close the lending (when the coin was still at a few hundred dollars and they were in good financial shape) had a big effect on Bitcoin price.

It went from close to $15k to under $10k within days. It is still falling now. Less lending platform customers, less demand for BTC.

It was the middle of the dip when the lending was closed, but it had been suffering from DDOS and access problems too so people couldn't access the site very much. Notice how the dip after the lending closed recovered back a bit (it was right in the middle of $15k to $10k so around $12.5k when it was announced, probably).

[coinmenace]

It is quite possible that Bitconnect being forced to close the lending (when the coin was still at a few hundred dollars and they were in good financial shape) had a big effect on Bitcoin price.

It went from close to $15k to under $10k within days. It is still falling now. Less lending platform customers, less demand for BTC.

I don't think the recent dip in Bitcoin price is because of lending platforms and even nothing to do with bitconnect. There's a lot of FUD around like India banning bitcoin exchanges, credit cards companies banning crypto purchase, china banning foreign crypto exchanges, Tether's audit not happening, coincheck hack (but more impact on NEM).

It's good though that scams are being rooted out by regulators warning about it.

[YuTü.Co.in]

I'm in huge shock to see some people are still defending this ponzi scam there is really insane. Google is our friend so anybody can make search on current situation and what future will be of those who are still buying soon they will get rekt. Anyway I'm feeling bad for new comers who are still buying this dead coin.

Most people know that all cryptocurrencies that don't share profits in some way are total Ponzi schemes (including bitcoin). I am pretty sure the lending platform popularity from a few months back caused bitcoin to go up in price so much. Now everyone is thinking there was something wrong with the platforms (when they weren't as Ponzi as most coins) the bitcoin price has gone down to new lows. All these lending platforms were receiving millions of dollars every day in the ICOs and there were dozens of them. All the FUD has caused bitcoin to crash also.

I suppose you can't blame anyone but all the complainers. Bitconnect was working fine and didn't dump any coins (it was a few hundred dollars still when it cancelled the lending). It wasn't even using its BCC reserves as they profited so much. Now all the other working platforms like Unix, Falcon, Davor, HomeBlockCoin, Exacoin etc are struggling not to go into reserves and the price is under $1 for them and inflation will just make it worse unless people stop fudding. Remember investors have tens of millions invested in these and nothing other than the complainers are making them possibly lose money. Lendconnect was still a few dollars last time I checked.

By the way, the biggest misconception I see people talking about is that they promised 1% daily returns but that was never the case. People started to expect that after the other lending platforms came out with even higher starting returns (Davor started at over 2% per day for many weeks but now is much lower...  0.08% has been the lowest).

Davor is still paying out BTC within minutes despite being down to 77cents now (just withdrew now). Nobody even did any loans for their millionaire loan competition cos people were saying it was an exit scam etc.

Bitcoin down to near $7k:

Oh, how we pine for the days when every time somebody made money off BitConnect, somebody else ALSO made money off BitConnect. Damn them FUDsters for it's premature demise. I'm willing to bet that them same FUDsters or their parents also contributed to the demise of BETAMAX, opening the door for the lesser product, VHS.

[Crestington]

to the dumbasses that bought this coin past two days when the verdict is already out on the coin. SMFH

Not looking good at $6.54 according to Coinmarketcap. Maybe this is the first coin in crypto history that in fact goes from billions to zero.

I watched Paycoin go from 100 million marketcap to 300k. Once it was branded a scam, it slowly died over about 6 months until people got bored of posting about it.

[AGM76]

I'm in huge shock to see some people are still defending this ponzi scam there is really insane. Google is our friend so anybody can make search on current situation and what future will be of those who are still buying soon they will get rekt. Anyway I'm feeling bad for new comers who are still buying this dead coin.

Most people know that all cryptocurrencies that don't share profits in some way are total Ponzi schemes (including bitcoin). I am pretty sure the lending platform popularity from a few months back caused bitcoin to go up in price so much. Now everyone is thinking there was something wrong with the platforms (when they weren't as Ponzi as most coins) the bitcoin price has gone down to new lows. All these lending platforms were receiving millions of dollars every day in the ICOs and there were dozens of them. All the FUD has caused bitcoin to crash also.

I suppose you can't blame anyone but all the complainers. Bitconnect was working fine and didn't dump any coins (it was a few hundred dollars still when it cancelled the lending). It wasn't even using its BCC reserves as they profited so much. Now all the other working platforms like Unix, Falcon, Davor, HomeBlockCoin, Exacoin etc are struggling not to go into reserves and the price is under $1 for them and inflation will just make it worse unless people stop fudding. Remember investors have tens of millions invested in these and nothing other than the complainers are making them possibly lose money. Lendconnect was still a few dollars last time I checked.

By the way, the biggest misconception I see people talking about is that they promised 1% daily returns but that was never the case. People started to expect that after the other lending platforms came out with even higher starting returns (Davor started at over 2% per day for many weeks but now is much lower...  0.08% has been the lowest).

Davor is still paying out BTC within minutes despite being down to 77cents now (just withdrew now). Nobody even did any loans for their millionaire loan competition cos people were saying it was an exit scam etc.

Bitcoin down to near $7k:

Oh, how we pine for the days when every time somebody made money off BitConnect, somebody else ALSO made money off BitConnect. Damn them FUDsters for it's premature demise. I'm willing to bet that them same FUDsters or their parents also contributed to the demise of BETAMAX, opening the door for the lesser product, VHS.

The lending platforms work because when running smoothly everyone is willing to pay for the tokens at any price but at a certain level it will inevitably crash (maybe after being valued in the millions of dollars like some predict bitcoin to reach). If people are not buying as much due to bad press and FUD but people are selling the interest payments every day the price will have to fall, not least through inflation due to the company having to use their reserves of their coin. Davor have been quiet since the Telegram Q&A a few days ago in which they said they have no plans of closing and the coin seem to be quite stable now at 50cents. I think Davor are hoping it will get to single digits so they can buy up every coin in existence for well under a million dollars (they received $6million of BTC in the ICO when BTC was around $6k). There is nothing unsustainable about lending platforms, people just don't understand how they work. While the price goes up, they end up reducing the supply with the lending (similar to share buybacks) and can also sell some of that as profit to market the coin. When market forces (which are also at play with all coins) mean the price of the coin goes down, it probably needs to be bought back with profits to increase the price and reduce the inflation from the increased circulating supply.

Bitcoin has fallen for the same reasons. More sellers than buyers and bad publicity. Many people think that whales are controlling the whole market. Bitcoin only gives profits to the exchanges and doesn't have a company behind it to hype it with the profits (lending platforms are taking these profits from users lending the coin who also profit at the same time so are not stealing from other users by dumping the coins). Bitcoin just has lots of corrupted or previously traumatised users who are then easily manipulated into believing in it (anti-government and anti-bank propaganda etc). There is nothing backing the price of bitcoin unlike fiat currency that is backed by governments.


https://www.express.co.uk/finance/city/914799/bitcoin-india-cryptocurrency-finance-minister-Arun-Jaitley-Ponzi-scheme
At the end of last year, the government issued a warning that cryptocurrencies were a Ponzi scheme.

[svennnny]

I'm in huge shock to see some people are still defending this ponzi scam there is really insane. Google is our friend so anybody can make search on current situation and what future will be of those who are still buying soon they will get rekt. Anyway I'm feeling bad for new comers who are still buying this dead coin.

Most people know that all cryptocurrencies that don't share profits in some way are total Ponzi schemes (including bitcoin). I am pretty sure the lending platform popularity from a few months back caused bitcoin to go up in price so much. Now everyone is thinking there was something wrong with the platforms (when they weren't as Ponzi as most coins) the bitcoin price has gone down to new lows. All these lending platforms were receiving millions of dollars every day in the ICOs and there were dozens of them. All the FUD has caused bitcoin to crash also.

I suppose you can't blame anyone but all the complainers. Bitconnect was working fine and didn't dump any coins (it was a few hundred dollars still when it cancelled the lending). It wasn't even using its BCC reserves as they profited so much. Now all the other working platforms like Unix, Falcon, Davor, HomeBlockCoin, Exacoin etc are struggling not to go into reserves and the price is under $1 for them and inflation will just make it worse unless people stop fudding. Remember investors have tens of millions invested in these and nothing other than the complainers are making them possibly lose money. Lendconnect was still a few dollars last time I checked.

By the way, the biggest misconception I see people talking about is that they promised 1% daily returns but that was never the case. People started to expect that after the other lending platforms came out with even higher starting returns (Davor started at over 2% per day for many weeks but now is much lower...  0.08% has been the lowest).

Davor is still paying out BTC within minutes despite being down to 77cents now (just withdrew now). Nobody even did any loans for their millionaire loan competition cos people were saying it was an exit scam etc.

Bitcoin down to near $7k:

Oh, how we pine for the days when every time somebody made money off BitConnect, somebody else ALSO made money off BitConnect. Damn them FUDsters for it's premature demise. I'm willing to bet that them same FUDsters or their parents also contributed to the demise of BETAMAX, opening the door for the lesser product, VHS.

The lending platforms work because when running smoothly everyone is willing to pay for the tokens at any price but at a certain level it will inevitably crash (maybe after being valued in the millions of dollars like some predict bitcoin to reach). If people are not buying as much due to bad press and FUD but people are selling the interest payments every day the price will have to fall, not least through inflation due to the company having to use their reserves of their coin. Davor have been quiet since the Telegram Q&A a few days ago in which they said they have no plans of closing and the coin seem to be quite stable now at 50cents. I think Davor are hoping it will get to single digits so they can buy up every coin in existence for well under a million dollars (they received $6million of BTC in the ICO when BTC was around $6k). There is nothing unsustainable about lending platforms, people just don't understand how they work. While the price goes up, they end up reducing the supply with the lending (similar to share buybacks) and can also sell some of that as profit to market the coin. When market forces (which are also at play with all coins) mean the price of the coin goes down, it probably needs to be bought back with profits to increase the price and reduce the inflation from the increased circulating supply.

Bitcoin has fallen for the same reasons. More sellers than buyers and bad publicity. Many people think that whales are controlling the whole market. Bitcoin only gives profits to the exchanges and doesn't have a company behind it to hype it with the profits (lending platforms are taking these profits from users lending the coin who also profit at the same time so are not stealing from other users by dumping the coins). Bitcoin just has lots of corrupted or previously traumatised users who are then easily manipulated into believing in it (anti-government and anti-bank propaganda etc). There is nothing backing the price of bitcoin unlike fiat currency that is backed by governments.


https://www.express.co.uk/finance/city/914799/bitcoin-india-cryptocurrency-finance-minister-Arun-Jaitley-Ponzi-scheme
At the end of last year, the government issued a warning that cryptocurrencies were a Ponzi scheme.

Wow -8 -3 trust u must be some kind of a scammer !

[suchmoon]

The lending platforms work because when running smoothly everyone is willing to pay for the tokens at any price but at a certain level it will inevitably crash (maybe after being valued in the millions of dollars like some predict bitcoin to reach). If people are not buying as much due to bad press and FUD but people are selling the interest payments every day the price will have to fall, not least through inflation due to the company having to use their reserves of their coin.

The price will have to fall if it's a ponzi and the demand for the token is fueled entirely by a false promise of profits. And it doesn't take "millions", $400 did it for Bitconnect. Nothing to do with "FUD". Simple math.

Bitcoin has fallen for the same reasons.

No.

[AGM76]

The lending platforms work because when running smoothly everyone is willing to pay for the tokens at any price but at a certain level it will inevitably crash (maybe after being valued in the millions of dollars like some predict bitcoin to reach). If people are not buying as much due to bad press and FUD but people are selling the interest payments every day the price will have to fall, not least through inflation due to the company having to use their reserves of their coin.

The price will have to fall if it's a ponzi and the demand for the token is fueled entirely by a false promise of profits. And it doesn't take "millions", $400 did it for Bitconnect. Nothing to do with "FUD". Simple math.

Bitcoin has fallen for the same reasons.

No.

You make these statements without any explanations. $400 for bitconnect? They didn't stop because they were a 'collapsed ponzi' and would have had no problems carrying on. They hadn't even gone into their BCC reserves. Contrast that to DavorCoin which is currently still running with a coin value at 40cents (from a peak of near $200). Nobody is hardly making any more loans on the platform now. They are still servicing tens of millions of dollars worth of loans even at 40 cents per token. Their latest interest rate is still 0.33% (0.09% the day before) although those locking in their loans for longer would get up to a 0.2% bonus on those (not including the bonuses for larger loans). The problem with Davor is inflation and there are a lot more coins in circulation now than before so I expect them to buy the tokens back at some point.

You also ignored the fact that bitcoin is more of a Ponzi and very few can cash it all out at once for a decent price? These lending platforms don't promise returns, just variable interest and guaranteed capital. If bitconnect had decided to continue it would have worked as normal.

[zintips]

There seems to be a correlation between Bitcoin $4500 price and SP500 2400 index around early Sep.2017 before both went into spiral bubbles of BTC $19000 and SPX 2860 index. Both now in correction mode so going on that basis I expect BTC will go down to $4000 (+/-) and SP500 down to 2250 index before a bottom is found.

By the time Bitcoin finds its bottom most likely all the weak hands will fall off the blockchain tree and our friendly institutional vultures with the government support will end up holding big control of the BTC coins, at that point going forward the futures game will continue an all Wall Street show, same as the boring gold and silver market. There will be induced fake rallies and traps but at the end will not be the same as before.

Lending platforms can still be good options if they offer reasonable return % to arbitrage profits but any lending platform would need to be decentralized in an open exchange not prone to government lawsuits, it is possible that on the next go around Wall Street will introduce one.

[cryptodv]

Bitconnect is/was a pure scam. Genius plan though. A lot of people made out like bandits. Trevon went from driving an El Camino to driving a BMW X6 or something. Lol. Do the people suing really have a case against those infamous Youtube promoters?

[YuTü.Co.in]

The Dow Jones Industrial Average dropped more than 1,000 points for the first time ever Monday. There were only two stocks in the S&P 500 that were up for the day, while all of the Dow’s 30 members fell. Both indexes are now down for 2018, having erased all of their gains for the year.

While Bitcoin, which fell as much as 23% on Monday, shed nearly $18 billion in market value during the day, the stock market fared even worse: The Dow stocks alone lost more than $300 billion.

In one particularly gory example, Google parent company Alphabet (GOOGL, -5.20%) (which is not in the Dow), lost $40 billion of its market cap for the second trading day in a row—meaning Alphabet stock investors have lost more than $80 billion since Friday.

AlphabetConnect to the rescue!!!

[AGM76]

https://www.youtube.com/watch?v=s-4skPP-8KM