[2018-1-17] Bitconnect Closes Virtually Its Entire Operation

tbearhere

legendary

Activity: 3164

Merit: 1003

UPDATE
Our #BitConnect cryptocurrency will be removed from all exchanges.
Therefore, we offer an opportunity for our members.
You can exchange your BCC tokens at the current rate of $142.47 USD per token.
Only until March 19, 2018.
Follow the instructions in the following article:

Click here: http://telegra.ph/GUIDE-TO-RECOVER-THE-INVESTMENT-FOR-THE-BITCONNECT-BCC-CRYPTOCURRENCY-02-26

***SCAM AGAIN***

Emperor of Man

hero member

Activity: 886

Merit: 510

As expected.

Heard people a hundred times in these forums alone, that nobody should go for it. But as always there were people who didn't listen, and they fell...

holaing

newbie

Activity: 54

Merit: 0

Quote from: Peanland on February 01, 2018, 09:33:25 AM

Quote from: holaing on January 31, 2018, 09:34:07 AM

Quote from: Peanland on January 31, 2018, 09:11:04 AM

they could make an excellent product, but... It is a pity that the project turned out to be a scam

In my point of view, it always was a scam. Do you know honest mlm icos?

hmm...interesting question...now I don't answer in positive way, but one day it will change, I believe.A lot of new ICOs developing

It's a pity. I think this scheme has potential

Peanland

newbie

Activity: 66

Merit: 0

Quote from: holaing on January 31, 2018, 09:34:07 AM

Quote from: Peanland on January 31, 2018, 09:11:04 AM

they could make an excellent product, but... It is a pity that the project turned out to be a scam

In my point of view, it always was a scam. Do you know honest mlm icos?

hmm...interesting question...now I don't answer in positive way, but one day it will change, I believe.A lot of new ICOs developing

holaing

newbie

Activity: 54

Merit: 0

Quote from: Peanland on January 31, 2018, 09:11:04 AM

they could make an excellent product, but... It is a pity that the project turned out to be a scam

In my point of view, it always was a scam. Do you know honest mlm icos?

Peanland

newbie

Activity: 66

Merit: 0

they could make an excellent product, but... It is a pity that the project turned out to be a scam

mr.bitcoin2k17

newbie

Activity: 84

Merit: 0

I remember seeing posts about Bitcoinnect being a scam. Well, it turned out to be true Lips sealed

My condolences to all who invested in it Cry

waaat?

full member

Activity: 574

Merit: 104

Quote from: cryptamod on January 18, 2018, 02:26:03 AM

Quote from: casparthefriendly on January 17, 2018, 07:05:15 AM

Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30.

Ponzi-like
Many in the digital currency community have called Bitconnect a Ponzi scheme, including Ethereum founder Vitalik Buterin, according to TechCrunch. Such accusations were based on the multi-level referral system and the promise of up to 40% earned interest, plus a daily bonus of up to 0.25% per day, on each loan. The promise of risk-free high returns is often typical of a scam - if it sounds too good to be true, it probably is.

Bitconnect Coin’s website describes the currency as:

“The moment you acquire BitConnect Coin it becomes an interest-bearing asset with 120% return per year. It is that simple.”

Unfortunately for investors, that “interest-bearing asset” is now nearly worthless.

https://cointelegraph.com/news/bitconnect-closes-virtually-its-entire-operation-bcc-token-drops-87

Yes i am grateful that this ponzi scheme finally come to an end,the people behind this should suffer to death,this is the biggest scam in crypto history.

Are people who took part in BCC, don't see that it's a ponzi? I think they saw but hope that get own money back before crash. And youtubers helped them deceive themselves. And it's same scams will be more.

Quote from: abeke on January 18, 2018, 02:31:18 AM

Do archive.org have those youtube videos? Greed took over the people and at the end lost everything. Why do people blindly invest to this thing with impossible reward system? Is there any way for them to return funds?

In ponzi funds returning was already - to older investors. What you say else

abeke

full member

Activity: 216

Merit: 100

Do archive.org have those youtube videos? Greed took over the people and at the end lost everything. Why do people blindly invest to this thing with impossible reward system? Is there any way for them to return funds?

cryptamod

member

Activity: 196

Merit: 10

Quote from: casparthefriendly on January 17, 2018, 07:05:15 AM

Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30.

Ponzi-like
Many in the digital currency community have called Bitconnect a Ponzi scheme, including Ethereum founder Vitalik Buterin, according to TechCrunch. Such accusations were based on the multi-level referral system and the promise of up to 40% earned interest, plus a daily bonus of up to 0.25% per day, on each loan. The promise of risk-free high returns is often typical of a scam - if it sounds too good to be true, it probably is.

Bitconnect Coin’s website describes the currency as:

“The moment you acquire BitConnect Coin it becomes an interest-bearing asset with 120% return per year. It is that simple.”

Unfortunately for investors, that “interest-bearing asset” is now nearly worthless.

https://cointelegraph.com/news/bitconnect-closes-virtually-its-entire-operation-bcc-token-drops-87

Yes i am grateful that this ponzi scheme finally come to an end,the people behind this should suffer to death,this is the biggest scam in crypto history.

iozver

sr. member

Activity: 266

Merit: 250

Finally. I've been waiting for this for a long time. Although at one time made several x on this coin. But it was worth waiting for. It is sad that against the background of this news, we are likely still today we will see a drop in the price of bitcoin.

motoprose

member

Activity: 195

Merit: 41

Quote from: richardsNY on January 17, 2018, 06:08:27 PM

How pathetic, the YouTubers having sold their soul to these scammers have deleted their video's and started to act all innocent and that they themselves are victims too, it's disgusting. Crypto Chick, although she is extemely hot, has seen a lot of hate being thrown at her, and rightfully so. I read everywhere that these YouTubers should be sued for their involvement and promotion of a scam, but I wonder if anyone is actually going to take the legal route. Either way, according to some discussions, BitConnect will likely try to settle its debt in a very stinky way to keep authorities on a distance, but not sure what of this is true since there is so much nonsense and trolling happening now.

Same with this well known:
https://youtu.be/pnAyXdGNYgo

He was basically the face of bitconnect in the us.
He deleted his last feed where he was telling people 'You win!" cause they were calling him a lot of names and even threatened his life and it was a live stream so he either had to take it down or youtube would of done it for him.

cryptotnak

member

Activity: 194

Merit: 10

This is very good news for us,the crypto destroyer has finally ended,that ponzi scam that is torturing the cryptocurrency's image to the public.

cryptomngr

member

Activity: 182

Merit: 10

This is just what i expected,a ponzi scheme will end into an old fashioned ponzi scheme exit,they will exit without any warnings your investment now are in good hands,probably they are celebrating to the millions of dollars in hand.

wilhb81

full member

Activity: 224

Merit: 100

Any store can buy, sell, and accept Crypto

Quote from: Slow death on January 17, 2018, 04:18:59 PM

Quote from: motoprose on January 17, 2018, 02:59:15 PM

Well that was the longest running Ponzi scheme that didn't let up until the very end.

they have a very strong marketing campaign and many such schemes have a support in Asia, I saw some ponzi sites that made promises of high returns to be successful websites in Asia, especially in countries like India and Philippines... these guys ( Bitconnect ) do many speeches and deceive people, even the days before I saw a guy who said in the social network that would invest $25,000 in Bitconnect and saw a girl who according to her invested $300,000 in Bitconnect.

I do not have a link from those people who invested these values because if I had this link, I would post it here, it was something that shocked me when I read

I even read a news about a married man who used the bank loans ($500K) to invest in Bitconnect Shocked

Now, he's being frustrated and struggled with financial crisis. He might want to loan another $5 mil to cover the loss (the insanity is absolutely loose control...)

A lesson from this ponzi scheme, "Never put all your fragile eggs in one basket"~

8270thNinja

full member

Activity: 210

Merit: 100

busy in real life, long post gap is understandable

The marketing of Bitconnect is really amazing including those famous youtubers who uploaded their videos to advertise it. Anyway, It seems a big event for Bitcoin, Those Bitconnect Investors should have visited this forum so they will know that Bitconnect is a scam, Bitconnect Definitely painted a bad image for Bitcoin, and some people i saw on social media generalizes that Cryptocurrency is scam because of what happened to Bitcoinnect.
Glad that they are shutting down.

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: richardsNY on January 17, 2018, 06:08:27 PM

How pathetic, the YouTubers having sold their soul to these scammers have deleted their video's and started to act all innocent and that they themselves are victims too, it's disgusting. Crypto Chick, although she is extemely hot, has seen a lot of hate being thrown at her, and rightfully so. I read everywhere that these YouTubers should be sued for their involvement and promotion of a scam, but I wonder if anyone is actually going to take the legal route.

it would be interesting to see the legal analysis. what are the precedents with other schemes like this? it wasn't openly a ponzi, but it seemed to operate like a multi-level-marketing/pyramid scheme.

Quote from: richardsNY on January 17, 2018, 06:08:27 PM

Either way, according to some discussions, BitConnect will likely try to settle its debt in a very stinky way to keep authorities on a distance, but not sure what of this is true since there is so much nonsense and trolling happening now.

they already did. they valued the $BCC they dumped on loan holders based on the market top, making everyone a huge bagholder. it's just a huge exit scam. if the people behind bitconnect are still in extradition-friendly countries, they should have their heads examined. they should be hiding out on a beach somewhere, counting their millions.

richardsNY

legendary

Activity: 1232

Merit: 1091

How pathetic, the YouTubers having sold their soul to these scammers have deleted their video's and started to act all innocent and that they themselves are victims too, it's disgusting. Crypto Chick, although she is extemely hot, has seen a lot of hate being thrown at her, and rightfully so. I read everywhere that these YouTubers should be sued for their involvement and promotion of a scam, but I wonder if anyone is actually going to take the legal route. Either way, according to some discussions, BitConnect will likely try to settle its debt in a very stinky way to keep authorities on a distance, but not sure what of this is true since there is so much nonsense and trolling happening now.

motoprose

member

Activity: 195

Merit: 41

Quote from: Slow death on January 17, 2018, 04:18:59 PM

Quote from: motoprose on January 17, 2018, 02:59:15 PM

Well that was the longest running Ponzi scheme that didn't let up until the very end.

they have a very strong marketing campaign and many such schemes have a support in Asia, I saw some ponzi sites that made promises of high returns to be successful websites in Asia, especially in countries like India and Philippines... these guys ( Bitconnect ) do many speeches and deceive people, even the days before I saw a guy who said in the social network that would invest $25,000 in Bitconnect and saw a girl who according to her invested $300,000 in Bitconnect.

I do not have a link from those people who invested these values because if I had this link, I would post it here, it was something that shocked me when I read

I do remember that couple especially that girl you mentioned.
That stuck in my mind when you mentioned it because that was odd they would invest this much all the sudden.
They were probably paid by bitconnect to promote they did this so to bring in my trust of investors who were on the fence to put in that much money into a company like this. Without any security.
But these money hunger people will just see someone doing and they say to themselves
"Why not me if they are doing it, then it must be alright to get involved into!"

Wrong way to approach these ponzi schemes because they are just used for a money laundering scam.
But on a global level.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: casparthefriendly on January 17, 2018, 07:05:15 AM

Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30.

This was inevitable, but as expected, it was pretty tragic. I was reading through the Bitconnect subreddit before the mods made it private. It's gut-wrenching. There are so many stories about people investing 5-6 figures, their life savings -- sometimes without their spouse's knowledge -- and dumping it into this scam.

It's also depressing to see that many of them have Stockholm Syndrome. Some are happy that Bitconnect liquidated their loans and credited back BCC at atrociously high prices (90% above market prices) even thought it was highway robbery. Lots of the bagholders still believe that the price can recover somehow, too.

Quote from: chiggz on January 17, 2018, 07:43:09 AM

Good riddance! Am I the only one who's not even remotely sympathetic? I mean just a little research would have shown a reasonable person that it was shady.

I don't feel bad for the operators or the MLM referral scammers. But from the look of some of those stories, some people will end up killing themselves over this. The amounts we're talking about today put the scams from the 2013 cycle to shame. The people who invested in BCC were reckless, but I definitely sympathize with their families now.

Topic: [2018-1-17] Bitconnect Closes Virtually Its Entire Operation (Read 239 times)