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Author Topic: Do you remember Bitconnect? I lost 3500 dollars in this pyramid!  (Read 1742 times)
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September 11, 2018, 05:57:38 AM
 #61

Bitconnect could potentially be the greatest scam in the history. Bitconnect uses a new methodology in form of ponzy scheme, and they do it successfully. Even though the scam system is actually crystal clear.  Some people, who are heavily invested are defending and promoting it. They hypnotized the mainstream into believing it actually works.
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September 11, 2018, 06:14:16 AM
 #62

Bitconnect is the reason why my cousin didnt try again investing in crypto because of the bad experience he had that led to losing his money, I think its worth $300.

Well its his choice to risk his money in a pyramding scheme but he cant accept the fact it happened.

Now he stay away himself in investing in cryptos and chose to become full time in his real job.



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September 11, 2018, 06:30:03 AM
 #63

Bitconnect is the reason why my cousin didnt try again investing in crypto because of the bad experience he had that led to losing his money, I think its worth $300.

Well its his choice to risk his money in a pyramding scheme but he cant accept the fact it happened.

Now he stay away himself in investing in cryptos and chose to become full time in his real job.

he investing in wrong crypto

bitconnect is like other pyramid scam.
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September 11, 2018, 07:38:24 AM
 #64

So sorry for your loss and this is huge, i have a friend that lost $200 on it, Bitconnect was a planned scam event by the developer.

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September 12, 2018, 04:02:12 PM
 #65

Bitconnect is the reason why my cousin didnt try again investing in crypto because of the bad experience he had that led to losing his money, I think its worth $300.

Well its his choice to risk his money in a pyramding scheme but he cant accept the fact it happened.

Now he stay away himself in investing in cryptos and chose to become full time in his real job.
If your cousin is not investing into cryptocurrency because of bitconnect, then he should have asked himself what he did wrong in the first place, while coming into this space. This was clearly a ponzi scheme and I believe some people just decided to turn a blank eye to that all in the name of getting wealthy.

Things do not work this way and this is not a product any sane minded fellow should even want to be a part of. Hence, if he has decided to thread that path, rather than looking for the mistakes he really made and makes amends by finding good projects to invest in, then that is his choice. A choice that is probable to be regretted in the long run.

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September 14, 2018, 07:01:15 AM
 #66

They had everyone fooled back then, Ponzi schemes are never sustainable and most persons who joined especially at the latter part get hurt. The good news is that those who were behind it are getting caught one by one
This is why it is so important for people to be able to recognize the good coin and the good asset in the market before investing in it. There are certain steps you need to follow and only then you can know whether or not to invest. See if the asset is liquid. High liquidity more is the general acceptability.

Second is the risk attached to the investment and third in the return you can get after you invest in the asset. If the answers you get are compatible with your wisdom, go invest otherwise refrain.
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September 14, 2018, 07:25:10 AM
 #67

You earn it if you know how to be content. You must have a target selling price. And of course if you had that profit you would have to sell it so you do not regret the latter. I have had a lot of experience in this trend so we should be smart and it will be a lesson for us to learn more.
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September 14, 2018, 11:01:16 AM
 #68

I wonder how many such fools like me? Are there people who have earned on this?

It's been many months and I've seen this thread, see this:

Two US States Implore Indian Authorities to Seize Property of BitConnect Promoters

“The investigation found that Bhatt had invested Rs 2 crore ($275,000) in BitConnect and after the company shut shop in January 2017, he kidnapped an employee of BitConnect, Dhaval Mavani, and extorted Bitcoins, Litecoins and cash worth Rs 155 crore ($25 million) from him.”

Police Arrest Alleged India Head of Now-Defunct Bitconnect Scam

“[Bitconnect] came into existence in 2016, and in 2017, it launched the BitConnect [BCC] coin. It remained active till January this year. It released 2.8 crore [28 million] coins, out of which 1.8 crore [18 million] coins were sold to investors. The accused held seminars, events in India and other countries promising high interest — daily interest rate of 1 per cent — on investment in BitConnect coins.”

they will not go unpunished





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September 14, 2018, 12:29:18 PM
 #69

I was so lucky even though almost invest my money to this site but i didn't do that because my friend tell to me that this site is Hyip and not good option to invest at there unless you were ready to lost your money but bitconnect already makes cryptocurrency face looks bad in my country even most of people currently are not trust anymore for cryptocurrency since they were got scammed through this site
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September 14, 2018, 12:43:49 PM
 #70

There were also onecoin, firstcoin and other ones as pyramid schemes. They had collected a huge amount of money via onecoin and firstcoin, they scammed people with network marketing strategy. I dont mean that network marketing is a scam strategy but some scammers are using it with their projects to collect more money.
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September 14, 2018, 01:14:40 PM
 #71

Bitconnect is the reason why my cousin didnt try again investing in crypto because of the bad experience he had that led to losing his money, I think its worth $300.

Well its his choice to risk his money in a pyramding scheme but he cant accept the fact it happened.

Now he stay away himself in investing in cryptos and chose to become full time in his real job.

I also have a sister in law who was very eager that time when she saw BCC did some conferences in our city. I almost joined an invest to it but I do knew there were people giving warning about them. That is also the reason I didn't invest to it. The only advantage was that this sister in law of mine joined to BCC when its price was still $25.

Even with all the warnings the team scammed lots of people successful. Though leaders were caught, the victims money may not really be recovered.


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September 14, 2018, 02:11:16 PM
 #72

Yeah I almost got into bitconnect last year. It's really enticing at first but when I learned of the multi-level scheme part, then I had doubts. Anyway, if you are going to invest in bitcoins or crypto, why the need to go through a marketing scheme when you can do it on your own? Thank god I didn't go through with it but I heard some people got serious money from it.

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September 14, 2018, 02:17:23 PM
 #73

I still remember it, but it really sounds too good to be true, since back then I am considering bitcoin as digital gold, so if I were the founder of bitconnect, I would be giving away my gold, and I think my greed back was on the positive side, though it is tempting to invest, I did not, I would rather buy, or wait in the faucet sites, but unfortunately I know people who didn't dod their research and greed was on their negative side.
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September 14, 2018, 03:09:17 PM
 #74

Hi, let's remember bitconnect!
This was the most popular cryptocurrency pyramid, in which many lost their money. So, I'm one of them.
I was a fool and I believed that I could make a lot of money. In the end, I lost all my money.
I wonder how many such fools like me? Are there people who have earned on this?

Bitconnect was a huge pyramid scheme scam. A friend of mine talked to me and tried convincing me to participate in their lending whatever. Just when I was almost about to consider it, it crashed. And I said, wo! I was lucky to escape the scam by a little margin.

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September 14, 2018, 04:17:06 PM
 #75

All pyramid schemes are scams and the greedy ones are always the victims. The signs were  there and there were enough warnings on Bitconect as a Ponzi
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September 14, 2018, 04:25:19 PM
 #76

A lot of warnings were rumored by that time and instinct save me from it. If I remember it right they do pumped it to attract investors and it almost fished me into it.

Deep digging is painful but it surely save you a lot of money.

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September 16, 2018, 11:34:43 AM
 #77

In memory of bitconnect. The pyramid scam but don't be too harsh on your self, we are all wired to always hope for the best, its one common characteristics of investors. I would have invested in bitconnect but lack of funds at that time saved me from the scam. My advice to investors is never to ignore the warnings and ensure you do your research before committing funds to any scheme.
I would rather say a lot of us are just wired to be greedy. The hand writing was all over the wall, a lot of people mentioned it on this forum about how one day this bitconnect thing is a Ponzi, scam and will implode but even at that, the idea of wanting to get rich quick became something a lot of people were looking forward to.
Being a part of a Ponzi is a choice as far as I am concerned, and I am sure all those who got dealt with apparently had it coming anyway. Some who just joined at the end are the ones who got to be the huge bait eventually.
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September 16, 2018, 11:43:02 AM
 #78

Hi, let's remember bitconnect!
This was the most popular cryptocurrency pyramid, in which many lost their money. So, I'm one of them.
I was a fool and I believed that I could make a lot of money. In the end, I lost all my money.
I wonder how many such fools like me? Are there people who have earned on this?

This is one of the greatest coin disappointment in cryptocurrency so far. It was a complete pyramid scam.

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September 16, 2018, 01:10:26 PM
 #79

Hi, let's remember bitconnect!
This was the most popular cryptocurrency pyramid, in which many lost their money. So, I'm one of them.
I was a fool and I believed that I could make a lot of money. In the end, I lost all my money.
I wonder how many such fools like me? Are there people who have earned on this?

This is one of the greatest coin disappointment in cryptocurrency so far. It was a complete pyramid scam.
Yes that's the biggest ponzi model I know of crypto in the crypto market. It has caused the market to go crazy in the last few months of 2017 and then it collapsed and caused many investors to lose money and the market fell as deep as it is now.

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September 16, 2018, 01:13:28 PM
 #80


if you are already aware that bitconnect is a type of ponzi pyramid scheme , then why would you still continue ? Theres nothing to blame here but your self because your blinded by the truth . now the only thing you can do for now is to move on and keep going . dont stress yourself too much because 3500 dollar is still small and can be easily earned if you are continue to invest on legit coins like bitcoins .
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