Topic: Bitconnect starting to disconnect. (Read 869 times)
Isn't the worse thing with Bitconnect that you sign up to say you'll leave your money in there for so many months? We'll have lots of people in the agony of watching their coins crash but being unable to sell.
98.56% of the trade volume is done on their own exchange which is a huge red flag.
That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.
And about Bitconnect, yeah, finally the ponzi coin has started to collapse. Though i have to say that i'm surprised that it took so long for people to realize that this was just a ponzi scheme..
I noticed this, too. Bitcoin next was like #8 on coinmarketcap, now they are around 16. But their price didn't go down, so can only assume coinmarketcap must have adjusted their circulating supply down by quite a bit to make that happened. Perhaps they were over reporting their circulating supply all along?
Before the Billion Drop, they counted the lended coins in the circulation and now they are not counted in the circulation. The market cap fell, but so did the circulating supply, but not the coin price.
98.56% of the trade volume is done on their own exchange which is a huge red flag.
That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.
The manipulation on the supply is a red flag and it being traded on their own exchange is one of their schemes. Nothing to be shocked about. The real thing which is shocking here is that why people invested here NOT EVEN KNOWING WHO IS BEHIND IT. The same with the NEW ETHCONNECT. They were exposed they were using fake profile on their team, and had nowhere else to go then deleted that part of the whitepaper.
Another huge scam which took longer than expected. Haha.
I dont understand how people fall for these scams, if it looks too good to be true, it probably is.
The same reason why guys fall in love with bitches than good girls. 😂😂 Who doesnt love the chase. Hahahahaa
I dont understand how people fall for these scams, if it looks too good to be true, it probably is.
Perhaps it should be renamed Bitdisconnect. 
There was a rumor that it is actually a scam or anyway not a very serious project...
There was a rumor that it is actually a scam or anyway not a very serious project... 
98.56% of the trade volume is done on their own exchange which is a huge red flag.
That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.
So the price has been stable yet the supply has been down so much? What is going on? Is it just a bug from coinmarketcap or is it a sign of manipulation of circulating supply to keep the price artificially high by the bitconnect team?
It's probably the latter... Bitconnect if i remember correctly is premined as well.
The whole thing's going to tumble down as soon as people realize it's a ponzi scheme and stop investing.
It's probably the latter... Bitconnect if i remember correctly is premined as well.
The whole thing's going to tumble down as soon as people realize it's a ponzi scheme and stop investing.
Here's what I think... as long as btc doesn't crash and there's enough new people buying into the bcc ponzi, it will probably keep going for a while.
Jita local, they will double your ISK. When this goes down the impact won't be minimal. People associate crypto currency with ponzi already, this will send crypto haters into a god-damned rage.
I know a friend of another forum that told me that he invested five thousand dollars in bitconnect in order to have around 18 thousand dollars when 2018 was going to end (in about 13 months from now) he was crazy, and i told him that it was impossible to reach that roi in just 13 months.. just think about it, 18k is more than 3x of 5 thousand dollars, it is impossible, more than 1,10% a day and with compound.
Obviously that it was a pyramid scheme, and there is no doubt with it.
Obviously that it was a pyramid scheme, and there is no doubt with it.
the return promise is too good to be true. people are still getting in are just to gamble for quick profit. lets hope that if it collapse, the impact to the crypto will be minimal.
Well, I think its about time. In my opinion, bitconnect is just like any other scheme, or we can say ponzi scheme. Most of its promises are too good to be true. Its actually surprising that it still running up to this date. For those who invested in this system, you should really think about it, and if possible better sell your coins before it becomes worthless.
This was obviously bound to happen already since the very beginning of this shitcoin. The project behind it clearly is an efffortless attempt to just fill the pockets of the developing team themselves. Really don't understand why a lot of people were too blind to see this coming. If you still own any of this shitcoin, I suggest you sell it now before you lose your capital. And end up holding worthless shitcoins.
Bitconnect is nothing more than network marketing ponzi in the name of cryptocurrency. I don't find it any different than other coins like onecoin, leocoin etc.
How much price it is holding right now doesn't make any sense at all, its just high speculation and high internal trading volume coming from new investors in their investment packages which is another HYIP model. They are not trading or doing any bullshits to earn high % return for their investors for sure.
How much price it is holding right now doesn't make any sense at all, its just high speculation and high internal trading volume coming from new investors in their investment packages which is another HYIP model. They are not trading or doing any bullshits to earn high % return for their investors for sure.
Yeah, the supply must have changed on Coinmarketcap.
I wonder where Coinmarketcap gets its data from.
I wonder where Coinmarketcap gets its data from.
yes it's dropped in market cap but when you look at details you can see that it's less tokens in circulation!
it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
A simple answer is an adjustment in the circulated supply, but actually, I don't care what position bitconnect are on coinmarketcap as long as the value keeps increasing.it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
This is the circulating supply (8,402,106) not sure what's up with coinmarketcap:
Also, 98.56% of the trade volume is done on their own exchange which is a huge red flag. They can manipulate the price and the volume trivially easily and nobody would be the wiser. No crypto should be taken even semi seriously with such a degree of centralization and lack of transparency.
This project stinks from every angle and it's begging for crippling regulations.
what's happen in next time? tell me, pls
yes it's dropped in market cap but when you look at details you can see that it's less tokens in circulation!
it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
A simple answer is an adjustment in the circulated supply, but actually, I don't care what position bitconnect are on coinmarketcap as long as the value keeps increasing. it was more than 7 millions BCC in circulation yesterday, today it's a little more than 2 millions! can someone explain that?
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