Topic: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency - page 77. (Read 384600 times)

The OP of this thread last logged in on January 16, 2018, 06:05:29 AM can the Admin here provide the IP address of where they logged in from?

Me: Doctor, I need you to help me because I believe that BitConnect is a Ponzi scheme.
Psychologist: Who referred you to me?
Me: Some Newbie dude on a forum where an sMerit program was recently put in place.
Psychologist: Dude, I think you need to see a Psychiatrist.
Me: Spell that for me, please, and is it capitalized?
Psychologist: Nurse, call Dr. Jack Barchas and set up an appointment for Mr. Me ASAP. I suggest today if at all possible, for it looks like Mr. Me haz gone off the deep end.
Me: Does that mean that I don't have write down Psychiatrist? Can you at least tell me if it's capitalized?
Psychologist: NURSE!!!
Me: Thank you, doctor. Here's some +sM, and thanks for the white robe, albeit both sleeves are tied shut with a long string attached to them. Is that my ride?

Well who cares why it failed at this point but BCC is never going to recover... It is absolutely and completely dead and I am very happy that it is. I feel for everyone that lost money but I also think it should be taken as a learning lesson not to invest in coins like this.

Keep your fucking conspiracy to yourself. You must be fucking retarded if you can't understand this simple math. THERE IS NO FUCKING DOLLARS? The dollars you got is just a value based on the profit you made while bitconnect's software hold your BCC for you? The dollar represent BCC's current price! I give a fuck what your friend AGM76 said to you.

Volatility software was made to stabilize the market, it had to follow bitcoin's trend to make the market more sustainable.

If you can't understand this simple fact, get the fuck out of here!

You think that posting from a brand new account is going to make it less shilly?

Pretending to be happy with this scam doesn't mean it's not a ponzi, because most certainly it is. Bitconnect clearly promised revenue in USD, even your fellow shill AGM76 admits that. They seem to have taken down their lending pages but there are archives, for example:

http://archive.is/UAnMu#selection-1715.0-1715.120


And they did exactly that while BCC was going up. But when it crashed they suddenly decided to pay back at an exchange rate that was 90% lower than the actual USD value.

And by the way - the lending "feature" was not in any way part of the coin itself. It was just a website. So why didn't Bitconnect use their magic "volatility software" to pay interest on e.g. BTC deposits? Because that would have made the ponzi nature of it so much more obvious?

There is no "real" dollars in bitconnect. The dollar sign you see represent fiat, but bitconnect never claimed it is in "real" dollars. It is just a value that we can understand. It could also be valued in ounces of gold, but it wouldn't mean they got a bunch of physical gold.

So we have not lent any bitcoin (or dollars) to bitconnect. The only bitcoins we gave to bitconnect was during the ICO phase. How many they sold? Was it 6 millions? I don't remember but that time it was valued to 6 million dollars.

After the ICO when bitconnect distributed all the coins to the users we have been trading between each others and with new users who wanted to enter the market (not with bitconnect), and it is we as users that priced bcc, not bitconnect. Bitconnect have nothing to do with the pricing. It is a demand and supply coin, nothing more than bitcoin (maybe a better version of bitcoin). So all the BTC we had we gave to another user in return of BCC. Simple math!

Anyways. BCC is like Bitcoin, its just bitconnect added an extra feature which was the lending, a software that hold our coins and distributed a profit while the market grows.

When the BCC grows we got interest in form of a dollar value (not real dollars). When we wanted to cash out we got less coins back due to the acceptens of the terms that we agreed up on, which was that we only got up to 45% (or 40%) monthly.

It doesn't matter if the market suddenly went up 500% in one month, they would only give us maximum of 45%, that was our agreement. The the rest of the coins/profit bitconnect's software keeps in a pool which they used to pay for referrals, paying the user in down-days, ect - in BCC, because it's only in BCC we lent to them and it is only in BCC they can give us (through the daily interest we got, valued in dollar which is equal to the current price of BCC. You can say that the dollar=BCC), which we convert to BCC (calculated on the current BCC price) and then take those and sell it on the market to a user who are willing to buy for the price you're asking for.

Everything works if there is trust. If there is no trust a crash will happen. If people lose its trust in BTC, btc would crash too. And that was happening with bitconnect. Some people got fucking crazy and spammed FUD everywhere, blogs, youtube, forums, chats, podcasts where every they could they did. That made a lot of people to lose trust and the platform became unsustainable.

So fuck you ignorent FUD makers. It is because of you people lost money! So get the fuck out of here. I hope all the people who lost will hunt you down! In stock market this kind of behavior is illegal and you could go to prison for this.  

So there is no ponzi in this! If you don't understand this, go and seek a psychologist!

carlos sold it to trevon ~8) $$$go all in$$$~>bittconnect cash reeeee  #tinfoilhatcat  

Are you serious? You were only lending BCC tokens and were only entitled to the same value of BCC tokens in return. There is no fiat in crypto. Lots of people call things scams but there are loads of these sites. Coinmarketcap.com is one of the largest websites and makes millions from advertising these and real ponzis like laser.online and betpetite etc.

I will leave with this (this was on the last link) for people who keep going on about bitconnect being a Ponzi:

"“Contrary to a widely-held opinion, Bitcoin is not a deliberate Ponzi. And there is little to learn by treating it as such. The main value of Bitcoin may, in retrospect, turn out to be the lessons it offers to central banks on the prospects of electronic currency, and on how to enhance efficiency and cut transactions cost.”"

Again, none of it is relevant to the question in any way. Yes, we're all aware the worthless token is worthless. However the loans were guaranteed in USD and your own post from a few months ago - quoted above for your convenience - says exactly that. So it doesn't matter what the value of BCC is, they should have refunded everyone the actual USD value as promised.

I think we don't even need to get into the other questions, e.g. why did they abruptly cancel lending when there was no reason to do so (again, according to your own claims). Bitconnect is a scam. You can't provide the most basic answers regarding their business and its collapse. Shame on you for shilling such a massive ponzi scheme. I hope you get doxed and get what you deserve.

If everyone converted the interest or lending wallet amount at the same time, they would all get the same rate. Doesn't mean they can cash it all out without crashing the price. That's the same with any crypto. The value of a coin won't hold above half the value if just a small percentage is sold. To cancel the lending would obviously cause a crash so not sure what else they could have done. Because they made profits, they probably could compensate the recent loaners.

Remember the marketing for bitconnect said people were loaning them BCC not USD but it was actually the value of the coins at the time of the loan rather than the coins themselves (as I suppose all loans must have some value).

Again, that's not the question. Why did they return the worthless BCC tokens to begin with? Lending was guaranteed in USD. Why didn't they repay the actual USD value?

You're just posting pure speculation. Bitconnect haven't communicated anything of the sort. Again, why? Seems very very fishy for a financially solvent law-abiding business.

They returned BCC tokens to them so I think the users would first need to send the same amount back before they would sort out anything. I think those in the last two months would only have got back less than half so they could probably be compensated in BTC. You have to remember they are getting legal letters at the mo so can't do too much even if they wanted to. People are being advised to sell their coins (by the class action lawyers).

That doesn't answer my question at all. I wasn't asking about BCC market price, I'm well aware of that. Suggesting that victims can make it up by buying the worthless tokens is dishonest at best and outright scammy at worst.

The question was:

Based on your claim that Bitconnect was financially solvent (even "had made lots of profits"), why didn't they refund their users in full?

Wanna give it another shot?

@AGM76, I appreciate both of us being civil toward one another, and don't worry, for I've never participated in the Trust thingy. BTW, this is Gleb [the asshole] in case you're not up to speed, you fuckin cocksucker.  

Yeah that only makes sense if they don't release all the USD at the same time, which they did when they cancelled the lending. Obviously they didn't leave it in the lending wallet as that would have been even worse for the coin. In a normal crash, though, the lending would still continue so there was no real way to lose if you were in the lending rather than just holding the coin. Holding the coin would give better returns but more risk. I think the company should probably buy back all the coins cheap if it crashed as it will stop the interest giving out too many coins and flooding the market as there would be no buyers of the coin at a certain point.

A wise man once said with second post on this forum ...

You have to understand many people made a lot of money with bitconnect while the lending was operational. I think bitconnect was supposed to do something about the people who only joined in the last couple of months but again this assumes the BCC coin won't go back up. Some people have even suggested (and got hated for it) that people buy back more BCC at the lower price as the averaging down will be immense. So if they were owed $10k at BCC=$363 (and got about 30 tokens) but bought another 100 at $10 now, the BCC price would only need to reach about $80 for them to get all their money back etc.

You keep trying to muddy the waters with other coins and tokens. Completely irrelevant. Let's try one at a time:

Based on your claim that Bitconnect was financially solvent (even "had made lots of profits"), why didn't they refund their users in full? If they can't deal in USD I'm sure users would have been happy to receive BTC or ETH instead.

Please just stick to answering that. No need to waste your time with some stories about unrelated coins etc.

I keep trying to explain they didn't run out of anything and had made lots of profits by sharing the growth of the coin with the lenders (who didn't mind because they also made money). They only paid in BCC tokens and had loads of them. They only accepted BCC tokens too. They didn't need to have a BTC wallet on the site as people could even buy BCC with ETH on another exchange and send them BCC to the BCC web-wallet. I think these sites need to start using external exchanges and also only accept their own coin as this will stop people thinking they are stealing BTC (how is it possible they stole BTC if they didn't use it for anything or accept it as payment??).

About cryptos, I'm sure there are some companies that do buy-backs of the coin they issued when they profit etc as that would make them not a Ponzi but all others would be just a bubble as nothing really is backing up the price. Also, they can usually be cloned if they are open source so they aren't unique either. They just depend on a community to support them etc.

Oh that just made me realise that bitconnect probably did do buy-backs!! So obviously they wouldn't be a Ponzi...the buying of their own token (maybe with ICO funds or with profits) was probably why the coin rose so much. If they kept some of the extra BCC they were accumulating from their lending, just the fact they took it out of circulation would increase the price..so it is almost the same as buying back their token from profits (but to profit they would need to sell the extra BCC so maybe they could have just sold some and kept the rest out of circulation?).

You're getting negged because you're lying about this scam. You're also lying about other cryptos ("nothing unique about them or anything backing up their price") with this very lame false equivalence fallacy.


They had a very good reason to stop. They extracted the maximum amount of money from their victims and there was no more "growth".


There you go, even the fake rollover is over.

And just in case you missed those questions from earlier: