UK threatens to shut down BitConnect

[arakuns]

I doubt the information because you have no link to back it up.

[cyptx51]

Tomorrow's interest payout is 1.95%!!!

To me bitconnect was a "screw it, why not try and see what happens" bet.  With the 200.00 I invested about a month ago I've made over 200 already because I reinvest in the bcc token and hold it there until it accumulates.  My plan is to hopefully do a $5K 179 day loan and withdraw the $50 a day into bcc tokens and weekly use the 350.00 to buy bitcoin for the next 179 days and then I'll get my 5K back as well. 

I looked at my initial $200.00 as $ I might spend on fantasy football, junk food, bar tabs and careless spending over the course of a few months and am not budgeting my $ on that stuff but focusing on this "risk", "bet" etc. This whole cryptospace is a risk.  I trust BCC will be around for at least a couple of years so I said, "screw it, let's see what happens" and so far I've recouped my investment.

If you feel like joining the "screw it, why not crew" click here!   https://bitconnect.co/?ref=jlittlefield

and you promote this ponzi scheme in this thread,,
this is bad,
invest will always risky, but if you invest in a ponzi scheme this is a big risky

I'm just sharing my experience because I'm actually in the program and have recouped my initial investment already and am at "complete profit" phase of my bitconnect experience.  I think there is confusion between the words "scheme" and "scam".  Scheme is not a "bad thing".  A scheme is a methodology.  Bitconnect has created an interesting and paying structure.

[Chan8]

Yup truely a ponzi scam. But can we call it a scam if they have not taken off yet. Yes i know everyone says it will eventually close down and run off with everybodys funds. But this has yet to happen, and they are actually getting closed down before scamming anyone lol. Also any links would be great, to this news.
I guess if nobody been scam yet, it cant be called a scam.

[dllhg]

Yup truely a ponzi scam. But can we call it a scam if they have not taken off yet. Yes i know everyone says it will eventually close down and run off with everybodys funds. But this has yet to happen, and they are actually getting closed down before scamming anyone lol. Also any links would be great, to this news.
I guess if nobody been scam yet, it cant be called a scam.

Was fake news....  They outgrew being LTD and are out in the open now with their team.  Contract doesnt need to be renewed until late 2018.

All I can say is my experiment is going well. Only one week into it but daily rate has been over 1% average.  Recently saw 1.95.  Lowest was .5% .   Average for last six days is 1.32% ......You can withdraw your daily interest or reinvest to compound the daily interest.   

[Shukka]

Looks like the ponzi scheme is getting exposed and coming to an end shortly. UK Registrar of Companies has threatened to shut down BitConnect and dissolve its operation. BitConnect has two months to prove “cause to the contrary” until the decision has been formally enforced. Should the company fail to comply with these terms, the government agency will strike off its registration and seize its assets.

BitConnect was registered by a British man going by the name of Ken Fitzsimmons, he holds 75 percent or more of the shares in the company.

For those of you that are still participating in BitConnect you should get out now while you still can.

Wow, I guess you nay sayers would believe your own mother was the devil if they wrote and article online. First of all this is from back in July and it had nothing to do with Bitconnect, possible being a Ponzi. The UK Companies House is just that, it is a Registrar of Business. They needed updated information on the company Bitconnect, since it had changed from Bitconnect LTD. I laugh so much at you fails and how much you believe shit on the Internet. Ya'll be like, "If it is on the Interwebz, it must be true."

It is so easy to find the factual information or as close to factual information on the web if you just put a bit of effort in. Just most are to lazy to look and believe the crap that is spewed in their direction. lol

[Shukka]

Also on top of that, they have reduced the pyramid from 7 tiers to 3 tiers and there is talk of reducing further to just a 1 tier system. They originally did the huge tier to get people interested and into the Bitconnect lending system. Now that they have proven that they can make good on their promises, they don't need to schmooze people to their system, people are coming on their on free wills to join up. I have been apart of the system since April of this year and have received my initial capital back, which I promptly reinvested. You can see a lot of videos on YouTube of others receiving their capital back after their maturity date. I have used this system and I have not one single person under me as a referral, nor did I signup under anyone's referral link. You can make money purely off of the daily interest. I can break it down into terms of how and why the system works, once you realize how the system is actually working your perception of what the system is completely changes. The genius behind this system and algorithm is crazy good and others are trying to copy Bitconnect, but fail trying. 

[geo43]

Good - crypto ponzi schemes need to be called out and stopped asap.

[batang_bitcoin]

so that the reason why the price of BCC is drop?
but i dont think that make bcc down
their rank in coinmarketcap still on top 25 right?
no worry then

It is now at rank 21 and I don't know why people are keep on supporting this ponzi. And there's nothing wrong if UK will decide to shutdown Bitconnect on their jurisdiction if they can see it no purpose of being there and they realized that it's just a merely ponzi. I don't care if this is a fake news or not but ponzi's shouldn't be supported in anyway. It's just a scam and it is giving people a wrong idea that crypto's are working that way.

[btcone111]

More than happy for UK to do this. It should have been taken down earlier i cannot believe bitconnect could have made it to one of the top crypto. very scary.

[griffinxg]

Also on top of that, they have reduced the pyramid from 7 tiers to 3 tiers and there is talk of reducing further to just a 1 tier system. They originally did the huge tier to get people interested and into the Bitconnect lending system. Now that they have proven that they can make good on their promises, they don't need to schmooze people to their system, people are coming on their on free wills to join up. I have been apart of the system since April of this year and have received my initial capital back, which I promptly reinvested. You can see a lot of videos on YouTube of others receiving their capital back after their maturity date. I have used this system and I have not one single person under me as a referral, nor did I signup under anyone's referral link. You can make money purely off of the daily interest. I can break it down into terms of how and why the system works, once you realize how the system is actually working your perception of what the system is completely changes. The genius behind this system and algorithm is crazy good and others are trying to copy Bitconnect, but fail trying.  

Let's say each potential investor only has 1BTC = $1K to invest, and everyone target a 36 months exit.  At 40% interested compounded monthly, in 3 years, that's roughly 200,000,000 Bitconnect $.  The "capital" in your possession is potentially meaningless.  The genius behind Bitconnect already got your 1BTC at ICO to give you the BCC, but they are not going to pay you BTC or USD to purchase back your BCC.  It's up to you to find 200,000 new $1K investor to unload your supposed wealth on.

They certainly have made good on their promise to provide people a platform to pay "real" money, BTC, to earn make-belief money.  To get out, you only need to get enough new investors in to fund your make-belief money.

Even the new "investors" are probably wise to this, but probably are taking the gambles that there will be enough suckers coming in behind them to fund their own exit.

[RudeeTam]

I was just thinking of getting into this bitconnect craze but I guess I'll have to wait - and-see this one. They say you can earn even without referral. Would that mean you're getting your earnings from other's referrals? Or is the trading bot that good?

[Donaldturp]

I was just thinking of getting into this bitconnect craze but I guess I'll have to wait - and-see this one. They say you can earn even without referral. Would that mean you're getting your earnings from other's referrals? Or is the trading bot that good?

It's a scam, never get engaged with it. UK officials know it's a pure scam and they're taking actions against them finally. They're just creating a ponzi structure by exploiting newbie and amateur people. This is the whole story in Bitconnect garbage.

[yusuf98]

news and information is pretty good. ponzi is so complicated in terms of licensing. because in some ponzi countries it is prohibited and there is law.

[dllhg]

Also on top of that, they have reduced the pyramid from 7 tiers to 3 tiers and there is talk of reducing further to just a 1 tier system. They originally did the huge tier to get people interested and into the Bitconnect lending system. Now that they have proven that they can make good on their promises, they don't need to schmooze people to their system, people are coming on their on free wills to join up. I have been apart of the system since April of this year and have received my initial capital back, which I promptly reinvested. You can see a lot of videos on YouTube of others receiving their capital back after their maturity date. I have used this system and I have not one single person under me as a referral, nor did I signup under anyone's referral link. You can make money purely off of the daily interest. I can break it down into terms of how and why the system works, once you realize how the system is actually working your perception of what the system is completely changes. The genius behind this system and algorithm is crazy good and others are trying to copy Bitconnect, but fail trying.  

Let's say each potential investor only has 1BTC = $1K to invest, and everyone target a 36 months exit.  At 40% interested compounded monthly, in 3 years, that's roughly 200,000,000 Bitconnect $.  The "capital" in your possession is potentially meaningless.  The genius behind Bitconnect already got your 1BTC at ICO to give you the BCC, but they are not going to pay you BTC or USD to purchase back your BCC.  It's up to you to find 200,000 new $1K investor to unload your supposed wealth on.

They certainly have made good on their promise to provide people a platform to pay "real" money, BTC, to earn make-belief money.  To get out, you only need to get enough new investors in to fund your make-belief money.

Even the new "investors" are probably wise to this, but probably are taking the gambles that there will be enough suckers coming in behind them to fund their own exit.

Actually you don't give them any BTC at all. You trade BTC peer to peer with sellers of BCC coins.  I'm a week in and I have 10% ROI already on a large amount.  I have no doubt the interest rates will get lower and lower over time as they burn through more of their reserve coins.

[dllhg]

so many come in here and fail to read everything only the title.......   Its not being closed down lol.  FUD pure and  simple.  They outgrew LTD because they got too big.  Employees are out in the open as well.  All can easily be viewed with two minutes of searching. 

Bottom line is they are getting bigger and have new paperwork that is good  well into 2018..... Stop the FUD.  If you have something real please by all means post it but most of the replies are silly. 

[n0ne]

I don't think such a threat has been found against bitconnect. If that's true, already the particular digital asset would have fallen in value due to the investors leaving the assets or else could have got it termed under the scam list. The growth continues to take place if we go through the growth chart. The registrar might be in a compulsion to prove, but it doesn't lead to a shut down.

[Shivasenap]

I was planning to invest in bitconnect and ethconnect.Thaks for this post, I have changed my decision

[NickBrown]

Is there any link to a verified news source? Its not wise to just go along with what is written in a chat forum

[Isaremj3]

Airdrop is very good but the Dev have trun it to something streetful now

[adriaymati58]

Is there any link to a verified news source? Its not wise to just go along with what is written in a chat forum

Someone did post this link: https://beta.companieshouse.gov.uk/company/10278342/filing-history on the first page of the thread. It leads you to a PDF of the notice: https://s3-eu-west-1.amazonaws.com/document-api-images-prod/docs/wYGmnuGVgp6obZ3htZsVMhGcK8aZXTSlG2QBe9SXMjQ/application-pdf