Why BitConnect will destroy crypto

[Moiyah]

Bitconnect as i've read the news, closed down because of their 'bad publicity' . That's a good lesson for newbies like us not to trust easily in such like them. But i hereby disagree what your subject title said that bitconnect will destroy crypto. How is that? Will you ellaborate your point?

[Whitethoughts]

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

Already everything is green, what does the Ponzi scheme have to the crypt and its viability?

[boyjackyou]

Because the image of cryptocurrencies are being tortured by these ponzi schemes,they are the in charge to what will the government or the people will see how the cryptocurrencies works,they will think all of the cryptocurrencies are scams if they knew the Bitconnect ponzi scheme just pull off the plug,many of the people whos victim of this scheme will tell others that they are scammed and all the people will think the crypto itself is a scam.

[Mahanton]

Bitconnect as i've read the news, closed down because of their 'bad publicity' . That's a good lesson for newbies like us not to trust easily in such like them. But i hereby disagree what your subject title said that bitconnect will destroy crypto. How is that? Will you ellaborate your point?

Sorry for your loss man i know you did put some serious amounts on that coin.That would really be a good lesson learned from those people who do easily fall out on investing because seeing on good returns and for those who did invest on peak prices for sure they do regret on what they have done.Price of bitconnect crashed down and it is already expected for this thing to happen.I dont know why he do mention on destroying crypto if bitconnect did failed.Its just one of the hundreds of coins exist on market and making effects isnt too big.

[OuterTech]

The Bitconnect model is predicted to be over for a long time because the nature of this model is to take money from the last person to pay for the previous person follow MLM model. In this model, if someone is rich, there will be a poor person, which goes against the rules of the value of the cryptos. So that Bitconnect died because of the low exchange rate is also indispensable.

[Zeneize]

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

This is exactly what has happened, but why would it destroy crypto? It has only destroyed the investments of the people who has fallen into that trap. And taught them a lesson in the process.

[taxmanmt5]

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

There is nothing to them that has the power to affect the whole system, really? There are so many out there that have not even heard of them. Just because you take notice of a site or service and decide to not trust them is between you and them and there is no reason for the rest of the crypto world to notice. There are so many of these things out there that everyone can find one for themselves to not trust, one each, that works.

[BTCMILLIONAIRE]

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

Was pretty uneventful, huh?

[Fakayode1]

What is the correlation of bitconnect with other cryptos and how will that affect them, bitconnect was never a good coin but just a ponzi scheme people that invented in it knows the risk before they did. I don't see its failure as a problem for crypto community.

[Kalu1]

I don't see any catastrophe ahead because since ICO stage, investors have been warned against the ponzi scheme crypto. I think its the choice of those that invested, I don't see it destroy crypto because its a ponzi scheme.

[ulhaq]

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

Was pretty uneventful, huh?

Not really, many believe that it was related to the 30% drop in bitcoin that occurred a few days ago - that is a big deal.

And it was devastating to the people who invested in it - 90% lost, which is more than $2 billion USD gone overnight.

[cryptomarijuana]

Most of the people knew about this from the start is just a scam,they lose a lot money because of their greed.

[bigvito19]

Bitconnect got destroyed by crypto 

[shams]

Yes you were right same thing happened which you talked around 3 months back and I was also aware of this is going to happen soon because it was hyped too much and people invested all the money they have in their by closed eyes and that happen what we were scared of they are gone now and people are crying now. But like before we have to move on and focus on crypto trading and holding it is the only things which are here for sure.

[kemet jr]

Bitconnect is but one of the many cryptocurrencies. Bitconnect  for certain left a bad taste for cryptoworld especially to the lending platforms where its the most established. Nobody have seen it coming as it's one of those on top.  This event gives the lesson that nothing here is totally secure. It teaches us to analyze always investments and to diversify as well as to minimize losses such as this.

[CarylnBoy]

The future can not happen, as far as I know bitconnet has been closed just because of their bad publicity, but the scarcity of supply of market demand, with the help and support of the community and when This exchange starts to work then the bitconnet will be worth back in the market and you can keep your money in the wallet.

[zzHQzz]

Everybody understands about bitconnect now, but have to say - even tether collapsing (and it will, i can bet any amount on it) will NOT destroy crypto by any means

[iconoclast]

The collapse of one Ponzi scheme will not destroy cryptocurrencies. Just like the collapse of Ripple won't either. Both of them are corruptions of the original idea and their failure will only prove that centralized blockchains and pyramid schemes don't work.

[DanWagner]

I think you are wrong , every one who had googled bitconnect before investing would have seen all the warnings given beforehand . People told investors in bitconnect what was gonna happen and they still invested . Some people just want to believe to badly. So if you invested in bitconnect and lost money i'm sorry for you but it is kinda your own fault.

[hdtqisg]

BitConnect has closed Lending and exchange! The value of the BCC has dropped by about 20 times (from ~ $ 380) to the current $ 19. The last investors are those who have lost money! Currently, Lending with high interest rates are very attractive but the risk is too great! Be cautious before joining.