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Author Topic: Bitconnect starting to disconnect.  (Read 745 times)
styca
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November 04, 2017, 11:19:21 PM
 #21

98.56% of the trade volume is done on their own exchange which is a huge red flag.

That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.


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bobq
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November 04, 2017, 11:33:33 PM
 #22

Perhaps it should be renamed Bitdisconnect. Smiley There was a rumor that it is actually a scam or anyway not a very serious project...

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November 04, 2017, 11:47:35 PM
 #23

I dont understand how people fall for these scams, if it looks too good to be true, it probably is.
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November 05, 2017, 12:56:05 AM
 #24

98.56% of the trade volume is done on their own exchange which is a huge red flag.

That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.

The manipulation on the supply is a red flag and it being traded on their own exchange is one of their schemes. Nothing to be shocked about. The real thing which is shocking here is that why people invested here NOT EVEN KNOWING WHO IS BEHIND IT. The same with the NEW ETHCONNECT. They were exposed they were using fake profile on their team, and had nowhere else to go then deleted that part of the whitepaper.

Another huge scam which took longer than expected. Haha.

I dont understand how people fall for these scams, if it looks too good to be true, it probably is.


The same reason why guys fall in love with bitches than good girls. 😂😂 Who doesnt love the chase. Hahahahaa

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November 05, 2017, 12:59:51 AM
 #25

Before the Billion Drop, they counted the lended coins in the circulation and now they are not counted in the circulation. The market cap fell, but so did the circulating supply, but not the coin price.

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November 05, 2017, 01:14:47 AM
 #26

I noticed this, too.  Bitcoin next was like #8 on coinmarketcap, now they are around 16.  But their price didn't go down, so can only assume coinmarketcap must have adjusted their circulating supply down by quite a bit to make that happened.  Perhaps they were over reporting their circulating supply all along?

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November 05, 2017, 01:33:43 AM
 #27

98.56% of the trade volume is done on their own exchange which is a huge red flag.

That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.
Regulations could posibbly mean that you will loose your anonymity during transactions or whatever it is you're doing with your crypto, the govt will be able to track everyone. The anonymity is one of the core values of cryptocurrencies, and many people within the cryptocommunity take that matter very seriously. Regulations is a sensitive subject and shouldn't be taken lightly.

And about Bitconnect, yeah, finally the ponzi coin has started to collapse. Though i have to say that i'm surprised that it took so long for people to realize that this was just a ponzi scheme..

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November 05, 2017, 09:10:53 AM
 #28

Isn't the worse thing with Bitconnect that you sign up to say you'll leave your money in there for so many months? We'll have lots of people in the agony of watching their coins crash but being unable to sell.

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