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Author Topic: Bitconnect starting to disconnect.  (Read 632 times)
nappoleon
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November 04, 2017, 07:42:13 AM
 #1

bitconnect drop by a billion on its marketcap. lol

https://coincodex.com/article/1036/what-is-bitconnect-and-why-have-we-decided-to-distance-ourselves-from-it/
https://coinmarketcap.com/currencies/bitconnect/

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BelieveInBitcoin
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November 04, 2017, 09:42:35 AM
 #2

And about time too - Bitconnect always looked too good to be true.
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November 04, 2017, 09:53:15 AM
 #3


It's a pyramid scam, I remembered a few years back there are ton of websites popping up which ask people to send their coins there and it would double the next day. When they have enough coins the site is disconnect and disappeared with investors coins. LOL, it was a perfect and stupid scam. This bitconnect is no different, it can't be sustain before they pull the plug.

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November 04, 2017, 10:02:53 AM
 #4

Yes you are right they lost a billion in

In October we had 7.238.551 BCC    https://web.archive.org/web/20171023022949/https://coinmarketcap.com/     
an today only 2.138.092 BCC     but the price is still higher.

Sell the "shitcoins".
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November 04, 2017, 10:10:26 AM
 #5

yes it's dropped in market cap but when you look at details you can see that it's less tokens in circulation!

it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?

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November 04, 2017, 10:18:10 AM
 #6

Yes you are right they lost a billion in

In October we had 7.238.551 BCC    https://web.archive.org/web/20171023022949/https://coinmarketcap.com/     
an today only 2.138.092 BCC     but the price is still higher.

Sell the "shitcoins".

This is very interesting, how can the total supply plummet so much, 5 millions less amount now. It looks like a scam, so people can change the total supply easily? Avoid to buy this scam.

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November 04, 2017, 10:22:11 AM
 #7

This is kind of expect to happen for a long time. Bitconnect's story is just too good to be true, every bit of it sounds like a ponzi scheme. Probably people are surprised how long it have survived and now that competitors like ethconnect is coming so space for ponzi is getting busier.

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November 04, 2017, 10:23:26 AM
 #8

Seems like they have successfully manipulated the BCC circulation, but I'm not sure if they are the only project who do that. Anyways, it's still unknown who is behind the project.

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November 04, 2017, 10:36:42 AM
 #9

yes it's dropped in market cap but when you look at details you can see that it's less tokens in circulation!

it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
A simple answer is an adjustment in the circulated supply, but actually, I don't care what position bitconnect are on coinmarketcap as long as the value keeps increasing.



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November 04, 2017, 03:07:36 PM
 #10

what's happen in next time? tell me, pls
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November 04, 2017, 03:11:31 PM
 #11

yes it's dropped in market cap but when you look at details you can see that it's less tokens in circulation!

it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
A simple answer is an adjustment in the circulated supply, but actually, I don't care what position bitconnect are on coinmarketcap as long as the value keeps increasing.

This is the circulating supply (8,402,106) not sure what's up with coinmarketcap:



Also, 98.56% of the trade volume is done on their own exchange which is a huge red flag. They can manipulate the price and the volume trivially easily and nobody would be the wiser. No crypto should be taken even semi seriously with such a degree of centralization and lack of transparency.

This project stinks from every angle and it's begging for crippling regulations.
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November 04, 2017, 04:37:40 PM
 #12

Yeah, the supply must have changed on Coinmarketcap.



I wonder where Coinmarketcap gets its data from.

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November 04, 2017, 04:54:33 PM
 #13

Bitconnect is nothing more than network marketing ponzi in the name of cryptocurrency. I don't find it any different than other coins like onecoin, leocoin etc.
How much price it is holding right now doesn't make any sense at all, its just high speculation and high internal trading volume coming from new investors in their investment packages which is another HYIP model. They are not trading or doing any bullshits to earn high % return for their investors for sure.

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November 04, 2017, 10:07:48 PM
 #14

This was obviously bound to happen already since the very beginning of this shitcoin. The project behind it clearly is an efffortless attempt to just fill the pockets of the developing team themselves. Really don't understand why a lot of people were too blind to see this coming. If you still own any of this shitcoin, I suggest you sell it now before you lose your capital. And end up holding worthless shitcoins.

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November 04, 2017, 10:21:49 PM
 #15

Well, I think its about time. In my opinion, bitconnect is just like any other scheme, or we can say ponzi scheme. Most of its promises are too good to be true. Its actually surprising that it still running up to this date. For those who invested in this system, you should really think about it, and if possible better sell your coins before it becomes worthless.

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November 04, 2017, 10:40:36 PM
 #16

the return promise is too good to be true. people are still getting in are just to gamble for quick profit. lets hope that if it collapse, the impact to the crypto will be minimal.

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November 04, 2017, 10:45:15 PM
 #17

I know a friend of another forum that told me that he invested five thousand dollars in bitconnect in order to have around 18 thousand dollars when 2018 was going to end (in about 13 months from now) he was crazy, and i told him that it was impossible to reach that roi in just 13 months.. just think about it, 18k is more than 3x of 5 thousand dollars, it is impossible, more than 1,10% a day and with compound.
Obviously that it was a pyramid scheme, and there is no doubt with it.


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November 04, 2017, 10:47:53 PM
 #18

Jita local, they will double your ISK. When this goes down the impact won't be minimal. People associate crypto currency with ponzi already, this will send crypto haters into a god-damned rage.

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November 04, 2017, 10:49:53 PM
 #19


Here's what I think... as long as btc doesn't crash and there's enough new people buying into the bcc ponzi, it will probably keep going for a while.

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November 04, 2017, 11:02:55 PM
 #20

So the price has been stable yet the supply has been down so much? What is going on? Is it just a bug from coinmarketcap or is it a sign of manipulation of circulating supply to keep the price artificially high by the bitconnect team?

It's probably the latter... Bitconnect if i remember correctly is premined as well.

The whole thing's going to tumble down as soon as people realize it's a ponzi scheme and stop investing.



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Whitepaper
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ANN Thread
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