No, FUD killed it. People got scared and started to cash out, new investors was in fear so they didn't buy bcc.
Now these FUD people is FUD-ing in every lending platform and scare the shit out of people. Where ever you read or hear about these platforms in forums, youtube, ect... you see these FUD people everywhere like a disease. The FUD is the problem here not the people who referee people into the platform. As long there is demand for the coin there is no problem to pay the promoters with our profit we shared to the software. But when the FUD takes over - good bye.
They are fucking up everything in the crypto space. It's not the lending platforms they do this, they are spreading FUD everywhere in the crypto space.
If it wasn't for the FUD everything would work perfectly fine.
I still think it was the referral program but other contributing factors would be the volatility software they didn't have, working as an unlicensed money transmitter, securities fraud.
Maybe you shouldn't participate in ponzi schemes.
There is not a ponzi. The volatility software is just a tool make the platform more sustainable between Bitcoin's price and BCC price. The volatility software is not a trading bot which trads on different markets and they have never claimed it does, just ignorant people made this up.
I don't understand why people can't understand the simple math.
You give BTC to someone who want to sell his BCC on an exchange.
You can choose to lend it, stake it or just hold it.
If you lend it, bitconnects software will hold it for you for a certain time. At the end of the time you won't get back all the coins you lent, you will get back less, but due to the increase of price you're getting some of the profit back, the rest the software keeps in a pool. This pool is a storage so the software can pay the lenders interest when the market is down and also to pay the referrals. The promoters get commission when a referral lend or reinvest. The software will give them a value in "dollar" which the promoter can convert to BCC according to BCC's current price ("dollar"=BCC current price. So the dollars are the interest you'll get which symbolize BCC's current price. It is not real dollars, they could valued it in onces of gold too, but it doesn't say that bitconnect got a shit load of gold). The BCC he gets comes from this pool. And he can chose to lend it, stake, sell it on the exchange for the current price in BTC or sell it for more and hope any user will agree up on it or just hold it.
If you stake it, you'll get rewards by having your QT-wallet open.
If you choose to hold it for 8 month or so. You would hopefully get more profit than lending it, because the software wouldn't take any profit. The amount you hold in beginning will be the same 8 month later. The downside with this is that you don't give it to the software so the software can take a cut to pay the promoters which are vital part of bitconnect. Those are the people that will bring value into the coin.
If you have any questions - ask!
If you still say it is a ponzi - motivate it by logic. Not like... ehhh... they took our btc and ran... it is people who came in last who paid all the earlier investors.
If you can't explain the bitconnect's platform in a way which would explain the platform as a ponzi, then stay away from these discussions.
As I said, we never lent bitconnect any bitcoins, we only lent BCC so there is no money that Bitconnect can run away with.
They shut the lending down. Doing so the demand ceased too. It's pretty obvious.
Yes, lending is over, but bitconnect isn't over yet and they never said they wouldn't come back. They said it clearly that they haven't abandon BCC and never encourage people to sell it. Just hold till their next project launches. Their goal is to bring BCC up at least 363 dollars again. BCCX are selling out in less than 2 minutes everyday. It has a huge demand right now. Bitconnect have a lot of new projects going on which will increase the demand of BCC and BCCX. And everything is fucking legal and has always been. Just ignorant people making up conspiracies about bitconnect and doing everything they can to crash the platform.
Anyways... even you know the math you cannot even understand it or point out where I am wrong. I pointed out every single fault you guys came with. The only thing you say, it is a ponzi, without to motivate it. Can you even read or what?
*** Bitconnectcoin was valued 1.8 billion dollars, it doesn't mean they were sitting on those money. 1.8 billion dollars doesn't mean it is real dollars. Everything is calculated on the last price someone bought or sold. If there was 1 000 000 coins and the last one who bought paid 1 dollar for it, then the market cap would be valued to 1 000 000 dollars. But if some whale would dump all his coins to all the people on the buyers list and the last one who bought the coin was 0.0001 cent the market cap would drop to 100 dollars.
You cannot sell all those coins for the same price, it is impossible. If there are more sellers than buyers, then the price will drop immediately. The dumpers can only sell to those that are willing to buy in the buyers list, but when there are no buyers left on the buyers list then there will be no value to the coin anymore. When the buyers list empties like that, the sell list has to sell their coins for cheaper and cheaper until it reach same bottom as the buyers list.
So that's why demand is important but the FUD-ers destroyed that!
