This is dead cat's bounce because it doesn't happen some market in cryptocurrencies to collapse totally at once. There will be many stages in which this is going to earth. One thing at the moment huge loss and it's reputation has gone forever. This business is based on trust and that will not be recover in this case.
Eh? They paid everyone back... the coin they received is now worth almost a quarter of their active loans.
I invested a small percentage of my portfolio in this couple months ago but honestly man some of your posts are f*cking strange. "paid everyone back" WTF ? Even when it was a "quarter" how the f*ck is paying investors back 25% paying them back ? Yeah go lend a friend 10K and see if you think he paid you back when he gives you $2500 and says he isnt giving you any more...... Jesus
I wasn't sure how long it would last and was able to get back 75% of my investment since I took my "interest" out every few days. I was going to keep taking it out until I left only house money in. I certainly saw it as a gamble. Their system worked for a year and could have gone another year.
Bottom line F*CK Bitconnect. If they had paid investors back with appropriate amount of BCC coins it would be one thing. The price before they did this was $220 and they decide to give us some super inflated $370 value so they dont have to give away as many of their useless tokens... Buillsh*t. I suppose if they gave everyone 4X the coins the price would have tanked even harder.
Interesting experiment now f*ckoff and die Bitconnect !!!