Is Bitconnectcoin still running this coin has given the cryptocurency a bad name and people should watch out for another similar site like Bitconnectcoin, I'm sure they are of to something because they have a huge success doing this kind of thing, when they lock this thread , expect that they are cooking something.
They didn't run out of money, though. They actually didn't need much money to run it lol. They hadn't even gone into their BCC reserves. They still hold a lot of BCC. Everything you think you know is propaganda.
Of course the scammers didn't run out of money. They ran out of idiots willing to give them more money so they shut the ponzi down. That's how scams work. Scammers make money, victims lose money.
Yeah, weird, it's as if Bitcoin is different from this collapsed ponzi piece of crap we're supposed to discuss in this thread. Still can't stay on topic?
BCC didn't receive money, they just received BCC tokens after the ICO (you can think of the USD as representative of the value of BCC tokens people were given like in staking - but in reverse as they received less coins so it was actually profitable and non-inflationary even when they ended). They never dumped the coins so weren't a scam...
On the other hand, Davor has actually turned out to be a much bigger scam. They cancelled the lending a few hours ago but ONLY RETURNED THE NUMBER OF DAV COINS ORIGINALLY LENT!!! So , this is FAR WORSE than bitconnect that valued the coin at market value. DAV was already trading at under half a dollar but they couldn't even afford to give everyone the true value of their capital release. What's worse, is they never allowed people to withdraw the DAV in the last few days from the internal exchange, while the external was gaining in value. They probably bought coins cheap and sold them on the external. This could have helped them to increase the price of their own tokens, but they probably were releasing more DAV internally than they actually had supply. It is quite possible they were also dumping their own coins, since to go from $180 to under a dollar in a few weeks is very suspicious, even considering all the FUD. I will never defend what DAV has done compared to Bitconnect, which still wants to resolve outstanding issues.Here is their statement from their medium account:
https://medium.com/@davorcoin/important-announcement-about-the-davor-project-257ea8516db9Important Announcement about the Davor Project
We have a very important announcement to make, probably the most important one since our beginning.
We have carefully analysed the current situation of the Davor project, of lending programs, of the cryptocurrency market and of legal issues regarding lending platforms and cryptocurrencies in general.
There is no doubt for us that the DAV value has been negatively affected by our lending program because the crypto-environment has dramatically changed recently. We did everything possible to protect our platform and our amazing community.
However, DAV price still went from $180 to $0.5 in 20 days.
As a result, we have decided to change our strategy and to end our lending program that has become the only reason why DavorCoin is decreasing in value.
Most users are no longer interested in investing in lending platforms, moreover, they are increasingly concerned about legal issues.
And there is one thing we don’t want which is to offer a different service to users depending on which countries/states they are coming from.
We will release today all lending packages we have and every user will be credited in his account the number of DAV he placed in his/her lending package plus a 10% bonus.
The staking pool will work as before.
There will be certainly winners and losers in this project, as in many high-risk investments. This is also true for the whole cryptocurrency market.
Our main objective now is to bring DAV price where it should be. We are going to put our efforts in transforming DAV into a strong cryptocurrency.
We have many steps ahead that could boost the DAV value.
1. High performance crypto-to-crypto trading platform. DAV will be used as trading fee.
2. Instant exchange to altcoins: you can exchange instantly DAV to many popular altcoins.
3. Partnership with crypto debit card issuers so you can use DAV to make payments.
4. Total improvement on the DAV blockchain: to support SegWit, Lightning Network and Atomic Swap, which means DAV could be accepted at thousands of Bitcoin-accepted merchants.
5. Crypto shop: You can use DAV to purchase for popular gift cards (eBay, Amazon, iTunes, Steam…)
These are only part of the list: we’ll soon release the full list of what we plan to do for the rest of 2018.
We know this is a big turning point of Davor, but the crypto-world is changing very fast. Therefore it is important to adapt ourselves to remain competitive.
We’re confident that this is the right way and we’re just at the beginning of a bright future. We hope to receive your full support and altogether we can bring Davor to the next level.
Thank you.