[ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency

[suchmoon]

The price can't really go to zero (even the lowest value coins are worth at least a fraction of a satoshi), it would just need a ridiculous amount of coins to pay the interest if the value was close to zero and there wouldn't be enough buyers for the coin if the growth slowed without reducing the interest rates so people wouldn't have been able to sell their interest into BTC after a while if they didn't manage it correctly (this is assuming an unlimited amount of coins but bitconnect actually had a limited reserve which they never needed to use but they could have done a fork of the coin -  also other lending platforms use ERC20 tokens which could probably generate coins at will in the smart contract etc). I don't think Bitconnect promised that there would be enough buyers for people to cash out the interest but they would obviously try to avoid this situation. This is not what actually happened, anyway, as they cancelled the lending. The difference between staking is that people can withdraw at any time but the lending kept most of the coins out of circulation for months so it didn't really need as much buying power to keep the price up. BitconnectX is meant to be an exchange but we have to see what they do first, if anything, but they supposedly raised hundreds of millions of dollars in the ICO.

They are down for maintenance now : https://twitter.com/bitconnectx/status/972087964078624768   (not sure what this would be as they don't have an exchange yet, I don't think  )

None of that word salad matters because Bitconnect defaulted on their obligations, i.e. scammed their "lenders". It doesn't matter what you think "would" or "could" happen, the facts speak for themselves. The Bitconnect scheme relied of the price of the BCC constantly going up, which is impossible, so it collapsed.

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[Imfinnabeon]

The price can't really go to zero (even the lowest value coins are worth at least a fraction of a satoshi), it would just need a ridiculous amount of coins to pay the interest if the value was close to zero and there wouldn't be enough buyers for the coin if the growth slowed without reducing the interest rates so people wouldn't have been able to sell their interest into BTC after a while if they didn't manage it correctly (this is assuming an unlimited amount of coins but bitconnect actually had a limited reserve which they never needed to use but they could have done a fork of the coin -  also other lending platforms use ERC20 tokens which could probably generate coins at will in the smart contract etc). I don't think Bitconnect promised that there would be enough buyers for people to cash out the interest but they would obviously try to avoid this situation. This is not what actually happened, anyway, as they cancelled the lending. The difference between staking is that people can withdraw at any time but the lending kept most of the coins out of circulation for months so it didn't really need as much buying power to keep the price up. BitconnectX is meant to be an exchange but we have to see what they do first, if anything, but they supposedly raised hundreds of millions of dollars in the ICO.

They are down for maintenance now : https://twitter.com/bitconnectx/status/972087964078624768   (not sure what this would be as they don't have an exchange yet, I don't think  )

None of that word salad matters because Bitconnect defaulted on their obligations, i.e. scammed their "lenders". It doesn't matter what you think "would" or "could" happen, the facts speak for themselves. The Bitconnect scheme relied of the price of the BCC constantly going up, which is impossible, so it collapsed.

One thing that got me curious was that it collapsed on this correction, why didn't it collapse on the correction in July-August and in early September? The only thing I can think of is those corrections were not as severe therefore they barely managed to stay alive. Unbelievable that some people will invest into Bitconnectx, the world is insane.

[YuTü.Co.in]

https://bitconnect.co/user/trade?Market=BCC

We gotta get out of this place
If its the last thing we ever do
We gotta get out of this place
There's a better crypto_vvv for me and you

<see my sig>

[dooglus]

You can exchange your BCC tokens at the current rate of $142.47 USD per token.

No, you can't. This is a scam.

[shogun47]

Does anyone have faith in BCC?

In regards to what? That it will go into the history as one of the biggest scams that ever happened? Yes, I have faith in BCC.

[Chironexxx]

You can exchange your BCC tokens at the current rate of $142.47 USD per token.

No, you can't. This is a scam.

Hi!

I also saw a similar post in the german section and it looked very suspicious...do you have any more information about this scam? what is the goal? to collect a worthless coin from people who have lost a lot of money investing in bitconnect?
Interrestingly, it came from the bitconnect UK twitter account...was it maybe hacked?

Cheers, Chiro

[YuTü.Co.in]

You can exchange your BCC tokens at the current rate of $142.47 USD per token.

No, you can't. This is a scam.

Hi!

I also saw a similar post in the german section and it looked very suspicious...do you have any more information about this scam? what is the goal? to collect a worthless coin from people who have lost a lot of money investing in bitconnect?
Interrestingly, it came from the bitconnect UK twitter account...was it maybe hacked?

Cheers, Chiro

BCT, where scammers are welcome but scammers piggybacking scammers will not be tolerated ...

[imanubernoob]

FYI this has been done before. Might want to take a look at this:

https://en.wikipedia.org/wiki/BTCJam


 and then take a good look at the players involved here.

Hot Fintech Startup (by Fox Business)[9]
Top 25 Most Exciting Bitcoin Startups (by Business Insider)[10]
The 10 Most Promising Startups Building Stuff With Blockchain Technology (by Business Insider)[11]
Top 25 Bitcoin Innovative Disruptors (by Sand Hill Group)[12]
Hot Finance Startup of 2014 (by Tech Cocktail)[13]


They sure were tooting the horn of BTCjam. Strangely enough though we have never seen a comparison to BTCJAM and BITCONNECT on this discussion threads or any of the youtube videos on the BCC "scam"?

WOnder why?

OH but BCC is sooooooooooooooooooo bad. LOL.

Look at the key players.
Simple logic.

[imanubernoob]

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin. It was intended to let users in countries that lack a local credit score system to receive loans, based on an in-house credit-scoring algorithm. Its mission was to make credit affordable and accessible everywhere.

BTCjam was part of 500 Startups accelerator program and received investments from Ribbit Capital, Foundation Capital, Pantera Capital, and other venture capital firms. It has facilitated bitcoin loans for more than US $14,000,000 in over 120 countries worldwide.[1]

BTCJam closed on 2017, citing regulatory difficulties operating out of various jurisdictions.

History
BTCjam was founded in late 2012 in order to help people have access to affordable credit. In some developing countries[2] like Brazil, interest rates for personal loans can reach over 200% per year.[3] Borrowers are unfortunately subject to aggressive predatory lending practices making credit difficult when not possible to be obtained.

2013
In October 2013, BTCjam was accepted into the 500 Startups accelerator program[4] and secured seed financing from Ribbit Capital, 500 Startups, FundersClub and Bitcoin Investment Trust.

2014
In February 2014 BTCjam moved from Mountain View to San Francisco, California, and started expanding the company largely. Gustavo Guida Reis, a Brazilian entrepreneur and former shareholder of the Brazilian e-commerce property Buscapé, joined the company in May as shareholder and Chief Product Officer.

By the end of 2014 BTCjam had facilitated bitcoin loans in excess of US$10 million with more than 100,000 users in over 120 countries worldwide.

2015
In January 2015 BTCjam secured their Series A fundraising round, led by Foundation Capital (investors in Netflix, Uber and Lending Club), Ribbit Capital, 500 Startups, FundersClub, Bitcoin Investment Trust and Pantera Capital. In May 2015, BTCjam launched new automatic investing tool.[5]

Patrick Murck, executive director of the Bitcoin Foundation, has joined the board of advisors of BTCJam.[6]

2016
In March 2016, BTCjam stopped customers from the United States from creating an account on the site. The CEO of the firm cited regulatory issues and uncertainty in the United States as the reason for the restriction.[7]

2017
In 2017 the company disclosed that it would be shutting down entirely and ceasing operations.[8]

[Itsmylife]

You can exchange your BCC tokens at the current rate of $142.47 USD per token.

No, you can't. This is a scam.

Hi!

I also saw a similar post in the german section and it looked very suspicious...do you have any more information about this scam? what is the goal? to collect a worthless coin from people who have lost a lot of money investing in bitconnect?
Interrestingly, it came from the bitconnect UK twitter account...was it maybe hacked?

Cheers, Chiro

they just want to get attention of newbie, who has not much knowlegde about their project but want to get much and fast profit.

[suchmoon]

FYI this has been done before. Might want to take a look at this:

https://en.wikipedia.org/wiki/BTCJam


 and then take a good look at the players involved here.

Hot Fintech Startup (by Fox Business)[9]
Top 25 Most Exciting Bitcoin Startups (by Business Insider)[10]
The 10 Most Promising Startups Building Stuff With Blockchain Technology (by Business Insider)[11]
Top 25 Bitcoin Innovative Disruptors (by Sand Hill Group)[12]
Hot Finance Startup of 2014 (by Tech Cocktail)[13]


They sure were tooting the horn of BTCjam. Strangely enough though we have never seen a comparison to BTCJAM and BITCONNECT on this discussion threads or any of the youtube videos on the BCC "scam"?

WOnder why?

OH but BCC is sooooooooooooooooooo bad. LOL.

Look at the key players.
Simple logic.

The fuck are you talking about? Bitconnect never issued any loans to anybody. They just took the coins, locked them up, and pumped the price so that they could pay out fewer coins, which ended in a very predictable collapse.

You shills are getting desperate with your whataboutism and off-topic bullshit. Bitconnect is a collapsed ponzi scam.

[imanubernoob]

FYI this has been done before. Might want to take a look at this:

https://en.wikipedia.org/wiki/BTCJam


 and then take a good look at the players involved here.

Hot Fintech Startup (by Fox Business)[9]
Top 25 Most Exciting Bitcoin Startups (by Business Insider)[10]
The 10 Most Promising Startups Building Stuff With Blockchain Technology (by Business Insider)[11]
Top 25 Bitcoin Innovative Disruptors (by Sand Hill Group)[12]
Hot Finance Startup of 2014 (by Tech Cocktail)[13]


They sure were tooting the horn of BTCjam. Strangely enough though we have never seen a comparison to BTCJAM and BITCONNECT on this discussion threads or any of the youtube videos on the BCC "scam"?

WOnder why?

OH but BCC is sooooooooooooooooooo bad. LOL.

Look at the key players.
Simple logic.

The fuck are you talking about? Bitconnect never issued any loans to anybody. They just took the coins, locked them up, and pumped the price so that they could pay out fewer coins, which ended in a very predictable collapse.

You shills are getting desperate with your whataboutism and off-topic bullshit. Bitconnect is a collapsed ponzi scam.

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

[Gleb Gamow]

FYI this has been done before. Might want to take a look at this:

https://en.wikipedia.org/wiki/BTCJam


 and then take a good look at the players involved here.

Hot Fintech Startup (by Fox Business)[9]
Top 25 Most Exciting Bitcoin Startups (by Business Insider)[10]
The 10 Most Promising Startups Building Stuff With Blockchain Technology (by Business Insider)[11]
Top 25 Bitcoin Innovative Disruptors (by Sand Hill Group)[12]
Hot Finance Startup of 2014 (by Tech Cocktail)[13]


They sure were tooting the horn of BTCjam. Strangely enough though we have never seen a comparison to BTCJAM and BITCONNECT on this discussion threads or any of the youtube videos on the BCC "scam"?

WOnder why?

OH but BCC is sooooooooooooooooooo bad. LOL.

Look at the key players.
Simple logic.

The fuck are you talking about? Bitconnect never issued any loans to anybody. They just took the coins, locked them up, and pumped the price so that they could pay out fewer coins, which ended in a very predictable collapse.

You shills are getting desperate with your whataboutism and off-topic bullshit. Bitconnect is a collapsed ponzi scam.

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

Whatever drugs you'll been taking, I suggest that you at the very least decrease the dosage, say down to zero. BTW, please film the Withdrawals for our viewing pleasure.

Now, allow me to spell it out to YOU! Not a single fuckin Investard used BitConnect's platform to borrow and/or lend BTC. Investards purchased BCC from BitConnect via BTC or ETH, then ... now pay very close attention here ... they loaned their BCC back to BitCoinnect, their lending program business model.

[imanubernoob]

FYI this has been done before. Might want to take a look at this:

https://en.wikipedia.org/wiki/BTCJam


 and then take a good look at the players involved here.

Hot Fintech Startup (by Fox Business)[9]
Top 25 Most Exciting Bitcoin Startups (by Business Insider)[10]
The 10 Most Promising Startups Building Stuff With Blockchain Technology (by Business Insider)[11]
Top 25 Bitcoin Innovative Disruptors (by Sand Hill Group)[12]
Hot Finance Startup of 2014 (by Tech Cocktail)[13]


They sure were tooting the horn of BTCjam. Strangely enough though we have never seen a comparison to BTCJAM and BITCONNECT on this discussion threads or any of the youtube videos on the BCC "scam"?

WOnder why?

OH but BCC is sooooooooooooooooooo bad. LOL.

Look at the key players.
Simple logic.

The fuck are you talking about? Bitconnect never issued any loans to anybody. They just took the coins, locked them up, and pumped the price so that they could pay out fewer coins, which ended in a very predictable collapse.

You shills are getting desperate with your whataboutism and off-topic bullshit. Bitconnect is a collapsed ponzi scam.

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

Whatever drugs you'll been taking, I suggest that you at the very least decrease the dosage, say down to zero. BTW, please film the Withdrawals for our viewing pleasure.

Now, allow me to spell it out to YOU! Not a single fuckin Investard used BitConnect's platform to borrow and/or lend BTC. Investards purchased BCC from BitConnect via BTC or ETH, then ... now pay very close attention here ... they loaned their BCC back to BitCoinnect, their lending program business model.

They could not use ETH get your facts straight. Do another bong hit..

[suchmoon]

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

Bitconnect was not peer-to-peer. Bitconnect did not lend to anyone. Bitconnect did not borrow bitcoin, which would mean they would repay in Bitcoin - no, they sold their wortless shitcoin for bitcoin and borrowed said shitcoin and repaid when it dropped 90%.

Three lies in one sentence. Try again.

[imanubernoob]

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

Bitconnect was not peer-to-peer. Bitconnect did not lend to anyone. Bitconnect did not borrow bitcoin, which would mean they would repay in Bitcoin - no, they sold their wortless shitcoin for bitcoin and borrowed said shitcoin and repaid when it dropped 90%.

Three lies in one sentence. Try again.

Never wrote any of that.

the words written above are pretty straightforward:

"Bitconnect was a peer-to-peer lending service."

Never claimed Bitconnect lent to anyone. Never claimed they borrowed BTC. Never wrote any of the above so how can you claim it is a lie? Simple you are a paid shill for the banks. Try again shill.

[Angel Di]

As I understand in view of last failure including the prices the trust to the project moves to zero. What expectations on this project and the price in the future, if whether there will be a future in general? Tell concerning March 19 - it the truth will be exchange at such price?

[suchmoon]

You are the shill for someone apparently I wonder who?

let me spell it out for you.

BTCjam was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.
Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

What part of the analogy did you fail to comprehend?

Bitconnect was not peer-to-peer. Bitconnect did not lend to anyone. Bitconnect did not borrow bitcoin, which would mean they would repay in Bitcoin - no, they sold their wortless shitcoin for bitcoin and borrowed said shitcoin and repaid when it dropped 90%.

Three lies in one sentence. Try again.

Never wrote any of that.

the words written above are pretty straightforward:

"Bitconnect was a peer-to-peer lending service."

Never claimed Bitconnect lent to anyone. Never claimed they borrowed BTC. Never wrote any of the above so how can you claim it is a lie? Simple you are a paid shill for the banks. Try again shill.

Hmmm... you did actually:

Bitconnect was a peer-to-peer lending service where people from around the world connect to borrow and lend using bitcoin.

"Bitconnect was a peer-to-peer lending service" - a lie, it was a centralized entity, not peer-to-peer.
"where people from around the world connect to borrow" - a lie, people could not borrow from Bitconnect or from each other via Bitconnect.
"lend using bitcoin" - a lie, people could "lend" only BCC, not Bitcoin, although you could probably weasel out of this by claiming that you meant using Bitcoin to buy BCC.

[wtfisthisnow]

Shill this shill that blah blah blah. Its hilarious everytime anyone posts anything in this bitconnect thread there are two posters that immediately shit on them. Its automatic.
Makes you wonder why they do it right? A little testy about anyone asking any questions or commenting in any way shape of form about BCC arent they? Very peculiar.
I mean these two assclowns in particular get all in a lather about an insignificant little cryptocoin that yesterday according to CMC had a whopping $23,912 USD in market cap. I mean why do they care?
Makes you wonder if they might even be getting paid to post their FUD nonsense because they sure as fuck dont give a rats ass about the BCC investards like they claim they do.

[suchmoon]

Shill this shill that blah blah blah. Its hilarious everytime anyone posts anything in this bitconnect thread there are two posters that immediately shit on them. Its automatic.
Makes you wonder why they do it right? A little testy about anyone asking any questions or commenting in any way shape of form about BCC arent they? Very peculiar.
I mean these two assclowns in particular get all in a lather about an insignificant little cryptocoin that yesterday according to CMC had a whopping $23,912 USD in market cap. I mean why do they care?
Makes you wonder if they might even be getting paid to post their FUD nonsense because they sure as fuck dont give a rats ass about the BCC investards like they claim they do.

You got marketcap confused with volume. A difference of about 3 orders of magnitude.

Bitconnect is a collapsed ponzi scam. It's not FUD to point that out to people who deliberately or mistakenly try to whitewash it.