BitConnect is shutting down !!!

[ripzombie]

BitConnect is shutting down its lending and exchange platform..!!

https://thenextweb.com/hardfork/2018/01/16/bitconnect-shut-down-closed/

who lost how much?

[Slow death]

you have to move your thread to Service Discussion

BitConnect is shutting down its lending and exchange platform..!!

https://thenextweb.com/hardfork/2018/01/16/bitconnect-shut-down-closed/

this was already expected to happen and based on the statement they gave:

The reason for halt of lending and exchange platform has many reasons as follow:

- The continuous bad press has made community members uneasy and created a lack of confidence in the platform.
- We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.
- Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.

Texas State Securities Board and North Carolina Secretary of State Securities Division, were the main factors in their decision-making to close the services

who lost how much?

According to what I have heard:

Changes coming for the Bitconnect system - Halt of lending and exchange platform

Changes coming for the Bitconnect system - Halt of lending and exchange platform

This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes.

If this is true, then people's losses will be few comparing in the current situation. I hope people do not invest in these ponzi schemes any more.

[teddy5145]

BitConnect is a well known ponzi website, people has speculated that BitConnect won't last in 2018 and I guess that were true
and thanks to them the price tanked down to a new low price point since 3 Months ago.
https://cointelegraph.com/news/bitconnect-closes-virtually-its-entire-operation-bcc-token-drops-87

From what I heard their "investors" money will be exchanged into BitConnect token, good luck with that though, its fucking worthless
The price just dropped  by 87% today and will be worse as the time passes

[palle11]

It is better they shut down the lending program because it has no logical backing of pay back in the future when backlog starts building just like ponzis . They "rub" Peter to pay Paul ". I mean, this is not a healthy business practice.

Meanwhile, talking about losses, I do believe there won't be much of it if bitconnect keep to there word of releasing loans and outstanding from what I read.
https://thenextweb.com/hardfork/2018/01/16/bitconnect-shut-down-closed/

[elitelongbowman]

Lending is working as the ponzi scheme. So it's a dangerous system should be shut down as soon as possible for a stable financial.

[saruxanyan]

Why would suddenly? Is it a yellow press? It will be necessary to check up but I used it for a long time and I think that can at them as restoravatsija.

[karungbitcoin]

All lending coin in the same case because they only use ponzi scheme to pay profit of their member . And ponzi shceme in cryptocurrency market is bad think because many newcomer thinking will be samething for others crypto. The price of All lending coin now going to zero, and many people lose their money. i hope no more ponzi scheme in crypto market.