Bitconnect Ponzi Investigation - Officially linking known ponzi scheme promoters

[Yamagemazaki]

Redditor /u/jam-hay put together an impressive list of revealing information which makes it even more plausible that Bitconnect is a ponzi scheme.  It links individuals who have promoted ponzi schemes previously with Bitconnect officially.  Submitting this as a separate thread for exposure.

"I think I know who's behind Bitconnect...run with me on this:" - /u/jam-hay

===========================
Rolando Anosa, Bitconnect event promoter
===========================

=========February 2016=========

* Prior to the Bitconnect, **Rolando Anosa is pushing a digital currency called Zewang** (https://www.youtube.com/watch?v=RCzPZVMRGuI)

* Zewang was called out for being a Ponzi scheme(https://www.youtube.com/watch?v=KO7WSHzS43c)

=========March 8, 2016=========

* The very first post on Bitconnect's G+ profile is the announcement of a Bitconnect Seminar in the Philippines, they say that it was **organized by Bitconnect promoter, Rolando Anosa**.(https://imgur.com/a/wd5F7)

=========March 2016=========

* If you Youtube "Rolando Anosa" it takes you to a video in his channel of the Seminar from back in March 2016(https://www.youtube.com/watch?v=0q6xoXn7ZQo)

* He also has another Youtube channel under the name "Rolly Añosa"(https://www.youtube.com/channel/UCVzJnd3JAyKkt9gmcDY21Yg)

* In this channel he's **heavily pushing MMM, a well known Global Ponzi scheme**, before crypto. https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

* I don't think this guy is responsible himself, however I do think he's first been a promoter working for MMM and why I think they are all linked.

===========================
Bitconnect posts about MMM
===========================

========= January 2017=========

* Bitconnect has strangely posted about MMM on their blog back in Jan 2017(https://bitconnect.co/bitcoin-news/418/pyramid-scheme-mmm-moving-to-bitcoin-for-security-reasons/)

* Which leads me to think it's a double bluff and in fact they are all one and the same underpinned by MMM the next generation.

===========================
Jonel Javellana, Bitconnect event promoter
===========================

=========October 2017=========

* Here's another: Bitconnect announced that their second Philippines conference was to be **headed up by Jonel Javellana**(https://bitconnect.co/system-news/82/bitconnect-conference-philippines)

* **Go to Jonel Javellana's youtube page and what's he promoting?  MMM again**(https://www.youtube.com/channel/UChAMsohsJg4-px9hsQmjTQw)


===========================
MMM
===========================

=========Back in October 2015=========

* This isn't MMM's first go at Crypto, have a look at this Bitcointalk thread.(https://bitcointalk.org/index.php?topic=1211947.0)

* The guy behind them all, Sergey Mavrodi(https://en.wikipedia.org/wiki/Sergei_Mavrodi) has morphed in to some kind of evil Vitalik Buterin(https://en.wikipedia.org/wiki/Vitalik_Buterin) over the years.

========= April 2016=========

* MMM pulled the plug on their other crypto based ponzi scheme because they couldn't pay out the interest(https://news.bitcoin.com/mmm-global-cant-sustain-bitcoin-scheme/)

* Bitconnect blog posting about Sergey Mavrodi's ponzi scheme crimes(https://bitconnect.co/bitcoin-news/138/bitcoin-ponzi-scheme-mmm-global-under-investigation-by-hawks/)

* Interestingly, ponzi schemes aren't illegal in Russia

* Bitconnect currently sits at a market cap of $1,537,529,896, I think the current speculative market has created the perfect storm for it.

=========November 2016=========

* Bitconnect is on the go, plugged by MMM Global(http://mmmglobal-bitcoin.blogspot.co.uk/2017/04/bisnis-mining-coin-terbaru-bitconnect.html)

* If you have crypto locked away in Bitconnect this is undoubtedly what's going to happen again at some point. Isn't FUD, its just what they do.
 

[1714835765]

1714835765

[1714835765]

1714835765

[1714835765]

1714835765

[coin163]

I will keep watching on this thread.
MLM is now a new trend people seem FOMO after REC coin crazy up 40x+ recently now HEX coin too.
But they're all use same code seem like HYIP.
I don't like this and don't believe on these

[Imfinnabeon]

These types of coins are exactly why cryptocurrencies need basic regulation. Nothing over the top or crazy but lets at least prevent the obvious ponzi schemes and scams. Having these types of coins in our markets and economy

is not good long term for the overall image of cryptocurrencies.

[Yamagemazaki]

These types of coins are exactly why cryptocurrencies need basic regulation. Nothing over the top or crazy but lets at least prevent the obvious ponzi schemes and scams. Having these types of coins in our markets and economy

is not good long term for the overall image of cryptocurrencies.

That's why this particular coin needs to be exposed as soon as possible because the bigger the fall the worse will be the fallout for other cryptocurrencies.  The future headline can be "$2 billion crypto ponzi falls" or "$10 billion crypto ponzi falls, governments start passing legislation to regulate, tax, and limit"

[defunctec]

You'd have to be completely clueless about the world to invest in this not realizing that it's a ponzi scheme. Greed is getting the best of people, they are trying to invest money, earn returns, and cash out before the whole house comes crumbling down. I'm shocked it hasn't been taken down yet.

[baradfo]

In the US crypto's are already taxable, treated as commodities similar to gold for tax purposes. As for regulation, I agree that regulation could help though once you open that door for governments then it could easily get stupid. So each regulation proposal needs to be scrutinized in order for things to not get stupid fast. If governments start limiting crypto's then that government needs to be looked at to see where its fiat is at that moment and take measures (whatever they are for you) so that people don't end up like others in Venezuela or Zimbabwe.

[Yamagemazaki]

There are a few things that can hasten the collapse of this ponzi.  in no particular order of likelihood:

1) Multiple people keep reporting this to the SEC and City of London, among other regulators.

https://www.sec.gov/
https://www.cityoflondon.gov.uk/

2) Coinmarketcap & Coincheckup delist them.  Although there is debate on whether they should remain neutral, or if they have some obligation to act when a known ponzi scheme gets into the top echelon of the marketcap.

https://coincheckup.com/
https://coinmarketcap.com/

3) The exposure of this ponzi is spread enough for the new investors to dwindle, eventually limiting payout to current investors and having the whole thing collapse.


I think it's going to take a concentrated effort by multiple people to bring this scam crashing down.  I don't see any other way forward.

[Dalton1990]

My good Sir,

I am worried the damage is done; BitConnect will shortly reveal itself as a ponzi scheme and this will be blown up in the news, especially with Bitcoin reaching ATH every week now.

In my opinion, the  best thing to do is reporting  this to some of the bigger news channels so that they will be brought down rather sooner than later. Your topic raises a good point, on top of just simple mathematics (trilionaire within couple of yours with 10k deposit) i am quite positive this makes for a well enough story, with Bitcoin being populair at the moment.

It has to be done.

[Gaius Cryptus Tradius]

First time I saw it in the top 10 I was so scared and surprised. It gives all coins a bad reputation if it is just a snowball system...

[Pab]

Newbies with his informations about scams,you are scammers

[jrn11]

Hi There,

Good discussion.

This is Jerry, Co-founder of: https://coincheckup.com/. I think it would be great if we would build in a "scam or legit" feature in the site where people can vote IF the coin is scam or legit + a short explanation "why".

It's our goal to stay unbiased, that being said a community voting feature to indicate scams and legit coins would add a lot of value besides our standard rating algorithm that only looks at the coin background fundamentals.

I just proposed the mockups to our Tech team and we hope to implement this feature in the upcoming month or so. Please let us know your thoughts what you think about this idea?
 

There are a few things that can hasten the collapse of this ponzi.  in no particular order of likelihood:

1) Multiple people keep reporting this to the SEC and City of London, among other regulators.

https://www.sec.gov/
https://www.cityoflondon.gov.uk/

2) Coinmarketcap & Coincheckup delist them.  Although there is debate on whether they should remain neutral, or if they have some obligation to act when a known ponzi scheme gets into the top echelon of the marketcap.

https://coincheckup.com/
https://coinmarketcap.com/

3) The exposure of this ponzi is spread enough for the new investors to dwindle, eventually limiting payout to current investors and having the whole thing collapse.


I think it's going to take a concentrated effort by multiple people to bring this scam crashing down.  I don't see any other way forward.