Topic: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency - page 82. (Read 384600 times)

https://drive.google.com/drive/folders/1qeVCOArP6h7u0a5IuCJXTWGz9jWxI0Sc

All of Glenn Arcaros videos which he deleted.

https://thenextweb.com/hardfork/2018/01/25/bitconnect-lawsuit-florida/

BitConnect hit with class action lawsuit from six victims who lost over $770,000

Judgement day has come for BitConnect: The Southern District of Florida handed the shifty Bitcoin investment lending platform its first class action lawsuit yesterday, alleging the company swindled the plaintiffs for a sum exceeding $770,000.

The case, brought by six former investors, names several BitConnect branches registered in the UK. More interestingly though, it also goes after local promoters who blatantly hyped the investment scheme on YouTube and other social media channels.

Among others, the lawsuit lists BitConnect affiliate marketer Glenn Arcaro, who holds a director position in the company according to the British Companies House registrar. It also names Trevon Brown (better known as Trevon James around the web), Ryan Hildreth, Craig Grant, CryptoNick (filed as John Doe) and several other unnamed promoters.

The document bizarrely opens with a reference to the song Welcome to Wonderland from the Broadway play Wonderland.

“Sure enough the crypto-Wonderland created by BitConnect was too good to be real,” the document reads. “As the business’ closure in January 2018 revealed a Ponzi scheme, numerous securities laws violations, and thousands upon thousands of investors who lost [more than] 90 percent of their holdings.”


According to figures in the filing, the plaintiffs lost sums ranging from $11,500 to $200,000. “Plaintiffs and Class Members seek compensatory and equitable relief rescinding their investments in BitConnect and restoring them the assets and funds they were fraudulently induced into investing,” the case insists.

For context, the case describes “Class Members” as any BitConnect investors with the exception of the defendants and any individuals commercially involved in the defendants’ affiliate marketing efforts. All investors that fit this criteria can join the class action against the company.

In a curious turn of events, some of the BitConnect promoters named in the lawsuit – including Arcaro and Hildreth – went on to wipe their entire YouTube channels when BitConnect received its first cease and desist orders from the Texas Securities Board and the North Carolina Securities Division.

Still, suspicious netizens were thoughtful enough to archive some of the promo footage before the marketers had a chance to pull it from their channels. Independent cryptocurrency sleuth Bitfinex’ed has since provided us with some of Arcaro’s deleted videos. You can access all of them from this link.

I had found a video where he started with $110 dollars, had amassed $528,000 through the affiliate program was locking in $10,100 as BCC was hitting $400 and BTC was at $18,000.

https://www.youtube.com/watch?v=Y1ND0mu-6-w

That would be worth like 17k now

Curious to know if he has anything left after all of that or how much he actually made cause I think a lot of his was probably stuck in the platform.

Although, he was recently pushing a new Ponzi scheme called DavorCoin.

I think it's reckless and he should get stung big time.

Interesting,all who bought @ 0.20-1$ and sold @ 200$+ also unhappy? people,this is crypto,look @ coinmarketcap,bitconnect from 0.12$ to 400$+ and people started talking that its a scam at begin,we have winners and losers,someone got lambo,someone bought him that lambo,thats all,you can write whereever you want,but if i got that coin @20 cent and sold it to YOU for 200$+ its your problems,not mine.

It is not the first coin what makes the pre-sale amount nearly 2 million. What is the reason? For example, the last I saw is about LuckyToken: the amount of tokens available for pre-sale is 2,000,000 LUC.

Same here.

Interesting! Arrest them all where their only way for a reduced sentence is to spill the beans on all they know as to who's truly behind BitConnect, their respective sentences staying on record. Looking at you, too, Jrevon Tames.

People are always trapped when they hear about quick and easy money. In fact, I agree - it was immediately clear that the bitconnect is a common trap, if you can say - the pyramid. The price in the moment rose to 400 dollars and it is very a pity to those naive people who bought at this price a coin of BCC ... Now it costs 13 dollars and I doubt that growth is expected. This is the end.

I'm waiting for negative merits to be implemented.

In the other hand the Bitconnect creators and biggest promoters will be hunted down like animals and put hopefully in jail where they belong!!

All evidence is there on that site, public records, names, faces, videos and more!

Okay, who's giving AGM76 his first gifted sM?

You really can't be this dense.

Nobody is saying that BitConnect's lending platform was a Ponzi because their token went up in value. That isn't what defines a Ponzi.

People are saying that BitConnect's lending platform was a Ponzi because it promised unrealistic and unsustainable daily returns in USD terms.


All proof-of-stake coins promise free coins forever. They don't promise that these free coins won't debase the currency - because they will. If staking causes the supply of DASH to double, it's not unrealistic to expect the per-unit price of DASH to halve if there's no change in demand. And nobody is promising any different. It is the promise of sustained daily USD profits by the BCC lending platform that made it a Ponzi.


No, it's quite different. DASH's returns are in its own tokens. BCC's lending platform promised a return in USD, effectively promising that the USD price of BCC tokens would never fall below a certain price. That's a promise they couldn't afford to make, and a promise that they eventually broke.


That makes sense, because it was a Ponzi, and DASH isn't.

From one side it is a big tragedy for a people who lost a lot of money in this fucking ponzi scam. But from another point of view, this is good for crypto in general, because it is like a good treatment than a cancer was treated successfully and the crypto world finally get rid of it. Now only clueless idiots will invest in crypto ponzi schemes. The same story was with shit tokens using bitcoin and ethereum names, like: Etehreum dark, etehereum blue, bitcoin red, bitcoin silver, etc.. etc... They used fucking pump and dump schemes together with fake "Airdrops" A lot of noobs fall into that scams, but now that shit tokens and coins have no more value and clueless "Investors" learned a good lesson. That was another good treatment for crypto in general. I really hope that soon we will have only valuable and usable coins and tokens that are related to a real and usefull projects on the crypto market. Cheers.   

Are people still buying this coin? 
Just crazy... Must be some kind of Stockholm syndrome   

cocaine cartel? :-D weee

Bitconnect's price has fallen under $10 again in few days. Lats time there was bull trap for remaining greedy investors to fill the pockets of these scammers. This time it has collapsed totally on the dreams of so many people which were built on sand. This was obvious sooner or later.

What I want to know is why nobody is going after Google for enabling greedy affiliates to promote these Ponzi schemes on Youtube.

Ponzi schemes are already illegal in many jurisdictions. Unfortunately it's impossible to protect people from their own greed and stupidity. Crypto scams are the modern day equivalent of the Nigerian prince. And people still fall for that too.

Yesterday, I was watching YT videos of people losing their life savings on Bitconnect and I have to tell you it was hard to watch I felt very bad for them....these Ponzis should be immediately banned when they are launched or barred from taking innocent people's money.

I can't believe the size of the member list ...


Reminds me of the demise of Sonny Vleisides' Laissez Faire City where members who lost millions sought out a site that it's main course of action was similar to bitconguerrillas.org. The only problem was that said site was in DIRECT control of LFC. It took another dude, ironically a renown user on this forum, to straighten up the mess and amass assets so to pay back the LFC Investards something. To date, X has been returned to Investards of LFC. In case you're wondering, X equals ... wait for it ... O. All documented.