Why BitConnect will destroy crypto

[mummybtc]

By now I expect all the value of these lending-like token platforms to crash but because people are greedy they won't exit their position, it is very clear for all to see that Bitconnect is a ponzi scheme

[KingScorpio]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

no it, wont

bitconnect unlike bitcoin was publicly created and marketed by rich capitalists forces behind it,

this has much more a centralised handwritting like ripple and the banksters have than it has a decentralist one, like bitcoin etc.

i rather think its good that bitconnect which shouldnt be listed as ripple collapsed,

i think eos is likely the nest one, and then comes, ripple hopefully

[ulhaq]

By now I expect all the value of these lending-like token platforms to crash but because people are greedy they won't exit their position, it is very clear for all to see that Bitconnect is a ponzi scheme

There is nothing wrong with lending, but bitconnect simply looked fraudulent, other lending sites will survive and thrive. Even now, bitconnect is not owning up to their responsibility, their statement regarding the shutdown is just making excuses and blaming other people.

[klixion]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

Bitconnect will not destroy cryptocurrencies but it has already destroyed itself.  Many people like myself avoided this project in the beginning.  Those affected were lured into this ponzi scheme with hopes of getting rich and now they have been burned badly.  Hopefully they can recover from this disaster but it'll be hard if they fell for it hard and went in 100%. 

[Ging]

indeed i dont know how the writer of this thread intended his title to sound like but BitConnect has destroyed crypto and the crypto world scamers i hope you are glad now thousands has put trust in them not glad of what has happened.

[tungcoin001]

You are right, but just a half. The crypto will bump again

[rehydrogenated]

We live in an interesting time. People think they are safe behind computers but a lot of people will go to jail. Just wait til an anonymous investor gives the local police force in Bangladesh a donation bigger than their whole budget. That's how much this stuff is worth to some of the whales. They will find these people - just look for the guy who was broke last year but has a lambo in the yard now. 

[123newath]

Do you guys think somebody really interested in crypto, care for BCC? I don't think so.

[thr3]

Do you guys think somebody really interested in crypto, care for BCC? I don't think so.

This is so true, most true crypto supporters avoid BCC and Ripple like a plague.

[krodmandoon]

Bitconnect will not destroy cryptocurrencies but it has already destroyed itself.  Many people like myself avoided this project in the beginning.  Those affected were lured into this ponzi scheme with hopes of getting rich and now they have been burned badly.  Hopefully they can recover from this disaster but it'll be hard if they fell for it hard and went in 100%. 

I agree with you one hindered percent.

Bitconnect is nothing, but a ponzi scheme and cannot cause any significant crash.

[valnd]

I never believed in that bitconnect thing. I don't like ponzi like project. I believe in real project. a project that will add value and solve an existing world problem. I believe so much in infrastructure projects. like etherum, OMG, ADA etc.

[QFT]

Not a good feeling for the people who have lost out, but after a countless amount of warnings given out by forum members, I can't understand why some still invested.

[Beazerdred]

There is no more of this project, luckily I went around his side , but many have invested very good money, I sympathize with you guys

[Holopopstyir]

BitConnect was an ordinary pyramid, it can not kill anything. On the contrary, it's good that the crypto market got rid of such a "currency."

[JollySkipper]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

Why Kodak killed IPOs? Or wait it didn't! Bitconnect is nothing and world of crypto won't die from this, will grow and learn !

[cryptopuma]

Because this ponzi schemes makes all the people who wants to join our community thinks that cryptocurrencies are all scams,all the people behind this scam should be hang to death or burn alive infront of people.It makes our community morelikely the old fashion-ponzi schemes unless these people will stop doing schemes like this,bitconnectX should not be allowed in the market.

[MainIbem]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

It has started happening.
Bitconnect update regarding the changes to lending and exchange functions

Dear community members, the current BCC price drop is the direct result of us releasing all of our members coins at one time. We will do our best to honor the value of BCC as close to what it has been holding during past several months. At this time, we are closing the lending platform only. The BCC Exchange will work as usual from tomorrow and the wallet service will remain operational to hold your BCC on the website.

For next 10 days we are allowing members outside the U.S.A, to participate in the BitConnect X ICO with BCC at $150. This is to support existing coin holders and give the BCC coin some initial stability after these recent events.

We are launching a new, superior system as an exchange that will support several cryptocurrencies as soon as possible and BCC will be listed immediately.

BitConnect Coin are limited in supply to 28 million and there are currently only 9.6 million in circulation.This scarcity of supply should create a market demand, with help and support from the community, once this new exchange begins operation.

We still expect BitConnect coin (BCC) to gain its value back and you can hold your coins in the website wallet or transfer them to a QT wallet.

We apologize for this inconvenience and we are working to get things corrected for this community and platform.

Best Regards,

The Team BitConnect

I copied this from Facebook.

[awazieik]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

Well Your prediction that Bitconnect will pull the plug came to pass but you underestimate the crypto market. Sure it is going to make the regulators clamp down on crypto but this will only enable the crypto market to evolve and be stable

[Entei]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

My congratulations you are the oraclo of the week, ironies the part, Bitconnect told us some lessons, the first: Bitcoin is king, second: We must exercise caution when choosing our investments and third: Nothing is lost and tomorrow has new perspectives.

[Coin12]

It's simple, when they pull the plug, this will be one of the most catastrophic and devestating Ponzi schemes the world has ever seen

I dont have any real and competent opinion about this. Is it real scam or not.
So far i dont like the feature of lending and staking that make me think that bitcoin is not real crypto but just ponzi scheme. But thats just what i think but but not reality. Maybe anybody know the true.