Bitconnect is reportedly dead. Virtually no one can log in and the price has plummeted under $40. They released a statement today that they are halting their lending and exchange platform. All this leading up to a supposed launch of a new Bitconnect ICO called BCCX. But considering this sudden move who would trust such a project? Despite this, buy orders are outnumbering sell orders on HitBTC. And some of the comments in the troll box are pushing the idea that the coin will go back up as high as it was prior to the announcement. Not sure if this is pure delusion, if they know something we don't, or if the people trying to sell are trying to push this idea so they can sell before it goes to $0. Others are claiming that the BCC token can be used to buy the new Bitconnect BCCX token, although no proof has been provided as of yet. Either way, it was a ponzi scheme that would have ended at some point anyway. I for one am sad for those who lost money, but it is a testament to doing your own research and choose coins wisely to invest in.
A very sad news for those who invested, and one of those is my friend. He's hoping for the ROI within 6 months and now he didn't even got it yet. I also tried to invest but when I knew it was something like a lending scheme I backed out as I don't trust that kind of business at all.
Don't you mean "ponzi scheme"? Yes, It was a travesty and there are still copycats functioning to this day. I feel that BCC really pulled a fast one and the new investors that joined during the November rush. It helped give crypto a bad image to many new comers, eventually the dust will settle and things will take a turn.
