The BitConnect scam is DEAD. What happens next?

in bcc •  2 years ago 

Bitconnect has officially closed it's doors, shutting down it's trading platform and cashing out users in the form of BCC tokens, which are getting closer to worthless by the minute.

I've taken a lot of heat from BitConnect promoters since my "Truth About BitConnect" video 2 weeks ago. I feel for the people that got duped, especially the ones who couldn't afford to lose what they risked, but the bright side is the scam is over, and the crypto world is stronger because of it.

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Thank God! The Crypto-world is a bit cleaner now!

there are many other bitconnect-like web site unfortunately...

true, but this one was so obvious and so popular at the same time...still can't believe, anyone put money into it

Agree, step-by-step, cleaning this new world ^^

name names.

Life is gonna be miserable for them always having to look over their shoulder.

Trevon is still around...

They will all find another s***coin to hype. Craig Grant is already pushing BitconnectX!

he's really active on steem too. @craig-grant is his account.

I have lost a lot of money!

Why didn't you do a minimal amount of research to determine this was an obvious Ponzi?

Why did it seem reasonable to you that they could guarantee rates of return that were 10X higher than any other returns you could get in any other investment?

and I guess most importantly ..... why were you so greedy ?

Some people are not greedy, it Seemed a very fair and reasonable system to use. If you think about the alts market since i got into crypto september-october. we seen regular days of 10-20 percent gains if not more per day. why would it seem unreasonable to lend your money to a supposed bot for it to pay you back a mere 1 percent whilst trading that market? You have to remember that not everyone is a pro at this type of thing and most of the new arrivals to crypto are looking at new ways to earn money. starting to use an exchange for a novice a scary undertaking unless you have previous experience in Forex, stocks and shares. I also got court up in it for the tune of 750 dollars but lucky i have money in there that i was willing to lose. Greed is not the problem on the users side. i think your question in regard to greed is a little unfair.

Just my opinion, I seen bcc videos when I started in crypto. From the moment I saw the offer or how it worked I knew it was a scam.... No way you can get daily interest @ near 1% everyday for 200 days then get all your capitol back at the end of that.....if you fell for that, it was greed or a lack of education followed by being mislead by the likes of trevon etc etc etc

id go with the lack of financial education. Although id love to think of myself or others as educated, that just is not the case with crypto/ stocks shares or investments. Myself along with others are all new to this. But i can assure you i will not be happening again. I did wounder why nick had earned 700000 on the platform and only reinvested 150k of it.

that was my logic ! I managed to get out without a loss cos i pulled out initial investment after 120 days ! just luck !

filthy-stinking-thieves.jpg

Rewards Pool Farmer Alert

@Steemcleaners, check out the comments section of @ryacha21 above. (https://steemit.com/@ryacha21/comments)

He is leasing 30k SP from @minnowbooster then using that to VOTE Up his own 7 Day old comments on random posts at the last minute. Scroll his comments to around the 6 day mark or just go to https://steemd.com/@ryacha21; he has a lot of self love on his own old comments.

HE IS DOING IT OVER AND OVER AND OVER.. He is farming the pool.. If you could help it would be appreciated..

Learn more about this sack of monkey spunk here:

https://steemit.com/shitpost/@pawsdog/the-shit-post-diaries-1-17-18-4

Also kinda a dick move to use the actual good post of another person to post a comment for no other reason to come back and farm it later.

Post Author, @dougpolkcrypto I do apologize.. This dude makes no actual articles of his own so the only way to draw attention to what he is doing is to comment his comments. My sincerest apologies for cluttering up your blog, outing the abusive self voting behavior of @ryacha21

Uh, no, this is not the only way to draw attention to hwat he is doing. The appropriate way to do this would be the @steemcleaners abuse report link: https://steemcleaners.org/abuse-report/

Feel for ya man, these youtubers who promote this crap annoy the hell outta me!

OMG yes. Every crypto video had that guy with his dreads and another one with a very attractive lady at the beginning. Makes me think of Herbalife! Albeit that was never this good!

Don't invest carelessly. Try to do your own research. Read news etc.

Really rya? how did it happen in here?

That's too bad :( Hope that you will make some gains soon. I try to come in with some value here. Just did a post on LBRY, gonna invest in this as soon as I get confirmation that we're entering a bull market.

Library Credits (LBRY) - Analysis
https://steemit.com/steem/@benkalashnikov/library-credits-lbry-analysis

Screen Shot 2018-01-18 at 16.48.36.png

Can't say that I understand how you're feeling bro. I've lost a lot of money in trading forex and stocks in the past but I haven't experienced anything like this. That 90% drop is crazy.

yeah me to bro.

Do not worry. As long as you did not invest everything into bitconnect you can always earn it back. There are so many good investments out there and like other's said, do your own research first. Thanks.

That's sad. Live gives hard lessons sometimes.

I feel VERY bad for the individuals who lost $. I am in no way a financial expert and this is in no way financial adivice. But in my humble opinion! I would invest in STEEM ASAP! It is VERY possible that it would help with the loses! I am a VERY strong believer in STEEM! And so is my Family, Friends and Clients! All the VERY best my Friends! Positive Energy! Great Karma! TEAM STEEM! :)

Now if buy a bunch of STEEM, because you seem like a rather nice person, and "not a scammer," and STEEM fails, should people feel sorry for me? Or be angry at you? Of course not. I'm not sure where all this pity is coming from. And I DID put some money in BCC, but then quickly withdrew it lol. If I had lost it, I would have been mad, but, in fact to quote Trevon James himself: Anyone who lost money they couldn't afford to lose was just being greedy to begin with.

If you build a castle in the air, and you use a speculative bubble as your foundation, instability shouldn't shock anyone. #BitConnect #Disconnect

It must have felt great making this vid. The writing was on the wall. So long Bitconnect. Let this be a lesson for everyone in the crypto world...stay away from Ponzi schemes or any platform guaranteeing returns.

It was obvious, bitconnect had to go.
Did anyone lose money here or withdrew it on time?

This dump is different as it helped destroy #bitconnect and castrate #ripple and some other fake cryptos. Well done, markets.

I would not call bitconnect (which is a scam) at the same time like ripple which is just a cryptocoin, even if people don't like it. For sure. But it is still a decent coin which an interesting idea behing. Also very good for trading.

Ripple is going back up anyway

I lost money, but it was money i was willing to lose. I got out before it hit the bottom and got into a crappy low market cap coin in the hopes that it shoots up and i can triple my money quickly. It’s my gambling money lol. But i feel the pain from people who lost a lot. Because people who took it more serious lost $100,000+

But its over. Done. Time to find another lending platform!! Just kidding

No, please don't. ;)

  ·  2 years ago (edited)

I deposited a VERY small sum--and then promptly withdrew after I realized "Oh fuck--what did I do." Anyway, I still don't understand all this hate for BCC and PITY for the ones who "lost it all." The way I see it, it's no different than when I lost my rent money on the blackjack table one christmas eve in Vegas. Yeah, it sucked, but, it was my own dumbass fault. In fact, I like what one of the hated "BCC promoters" himself, Trevon James, said: Anyone who lost money they couldn't afford to lose was just being greedy to begin with. And that's truth.

Yeah you are right. I totally agree.
I didn't loss much. Just that money which I had earned from bitconnect, somehow.

almost got into bitconnect cause of some vids that I watched on YT. But thank god, I placed the money into coins that are POS. Giving me additional coins if I leave them in my wallet. Phew!!

That's good. I am happy for you. It is like you are earing even when you are asleep :)
I lost like $4000 and I have just posted about it on my blog.

Yeh I lost a little bit. Transferred the coins to the staking wallet and bccx. Just gotta see if it goes back up any and I'll cash it out immediatly. smh. For some reason folks are buying it while its low. The bccx exchange is still coming out too. Its all strange.

They are making exchange to use their new coin Bccx there so that's why public is excited about it.I am also planning to buy it , let's see.

Use this as a lesson in identifying the psychology of heartless posturing. Posturing is where people present ideas as if they are an authority, usually with nothing to back it up and when challenged they will often attempt to intimidate or just continue the fabrication / denial.. Politicians are 'expert' at this and still, to this day, millions continue to fall for it out of desperation and ignorance. Unfortunately, once the scammers gain power they are in a position to actually cause the conditions that lead to further desperation and the whole cycle of destruction gets bigger and bigger.

The only solution is personal empowerment and enlightenment. Here's to your success!

  ·  2 years ago (edited)

So true

"Politicians are 'expert' at this and still, to this day, millions continue to fall for it out of desperation and ignorance."
Not only are politicians 'expert', usually they are morally debased sociopaths, skilled in instictively sussing out people's weakness and manipulating them, irregardless of the consequences or cost to the dupes who follow them.

in some cases, yes - though they only succeed due to our own lack of knowledge of self.

A very timely article about con artists, phonies, fakes, and liars. And if you think you are good at sniffing out these ponzi panderers, then this article is more than a vital read. https://www.theatlantic.com/science/archive/2016/01/can-you-spot-a-liar/423588/?utm_source=twb

It's completely incomprehensible to me that Bitconnect still has a market capitalization of nearly $ 400 million. A company without a business and without a serious business concept is valued at 400 million, you have to imagine that. That's one third of the market capitalization of Steem.

I was wondering if BitconnectX will succeed after this... An exchange needs to be trusted. Nobody wants a Mt-Gox 2.0

Right the whole situation was strange. They didnt give any updates for 2 days. Shut down gave everybody coins that were crashing and couldnt exchange for btc. They scammed 2 million people and still rolling out bccx. smh

I never liked Craig Grant...he comes off as a sneaky scammy air head...and im not even trying to insult him...

Didn't he power down and disappear? Promoting scams is a crime in the USA

Never mind I see he's back and doesn't acknowledge all the bitconnect comments on his blog I made one too

Have you been reporting every use of crypto on your income tax return?

Be wary of those people who promoted this ponzi scheme @bitconnect :

Crypto Nick
Crypto Jay
Crypto Clover
Crypto Chick
Craig Grant
Lenka Cryptogirl
Trevon James
Dr. Roy Murphy
Ryan Hildreth

Spread the list so other people wont fall for their fuckery.. $BTC $XVG $TRX $ETH

Are the $BTC $XVG $TRX $ETH supposed to be part of the "fuckery" or do you like them, no sarcasm

I know a guy who promoted Bitconnect like crazy ankur aggarwal, he still has a great following on his groups. I believe Ponzi schemes are everywhere and some marketers use it to make quick money but they lose the trust of their followers which is most important.

Also Crypto Flower of youtube. I noticed she has edited her titles to not reflect Bitconnect & Ethconnect any longer.
If everyone started filing a "scam/fraud" report on these videos perhaps youtube would do their own research and remove these people.

It's crazy the BCC value is moving up again

Wow... glad I listened and stayed away from this one

They start a new scam, BitconnectX. What's the odds on that exchange getting "hacked" and all the coins going to a mysterious wallet, that's untraceable, just like the Bitconnect owners? I'm not falling for that one.

Very sad for the investors!

Thanks a lot for all this information concerning this scam! Many out there wouldn't or couldn't recognize this. You did, as well as many others, and flagged them for it, trying to protect us. Thank you so very much! Great update on the matter.

Namaste :)

Everyone knew it was a scam, but they were all blinded by the money they were (supposedly) making.

Red flag went up for me when I saw the UK government was giving them a dead line to prove they weren't a ponzi. It's much better for us to focus on value in a coin something like STEEM and NEO :)

My red flag went up, when I saw that I have to change Bitcoins into their shitcoin and that they would not give it back for a fix period. This is so obvious. I just don't understand why people can't see those red flags...

BITCOIN IS AS CRYPTO AS THE FEDERAL RESERVE IS FEDERAL!!!

These busters had it coming, fuck Bitconnect and all of the scam artists they had pumping their ponzi.

Some of our very own steemsters no less. Bummer.

If you haven't noticed, the average intelligence of Steemsters seems to be pretty low unfortunately. It doesn't help that people think they are sooo smart when they bash Bitcoin and pump every shitcoin like its the next big thing. 90% of the people on Steemit don't go beyond surface level knowledge of any crypto-currency it seems.

Did we just make "steemsters" a thing? Also yeah, for better or for worse, I agree with all that.

I am really sorry about bitconnect owners!

Lmao this is gold, these videos are legendary. Highlight videos of the day right now for me. Keep up the good work. @dougpolkcrypto

BTC loses a cool $700-800 BILLION and still, nobody here blinks an eye.

Fuck me...

BTC reached an all time high market cap of about $330 Billion back in mid-December. It's currently at about $200 Billion.

How the hell could it lose $700-800 Bilion?????

He is just another Steemit noob FUDing around in a sea of other noobs.

Bitconnect can't reconnect, So they disconnected!!

btcbicooooneeect.jpg

disconneeeeeeect.....!

ReeeeeeeeeeeeeeeeEEEEEEEEEE!!!!!!

my kind of financial advice

Hey his coin may be worth a trip to McDonald's now, but those dance moves are priceless.

haha lolz

Great news =D

They should lock these people behind the bars

  ·  2 years ago (edited)

That's terrible.
Thank God, I did not invest in it.
I feel sorry for the people who lost their money.

Put on the whole armour of God, that ye may be able to stand against the wiles of the devil.

I think the crypto community must be much more critical of ourselves about these type of things. That something like bitconnect got this big and lasted for as long as it did must be prevented.
I just found your channel and I really like the content where you make criticisms, it is what is needed for this space to grow.

Looking forward to further content.

Users were warned, yet many of them still just couldn't face the facts. Basic math proved that it's just not possible and still, head in the sand was the action many took. Users should be warned about these snake oil merchants that still plague this platform and are active. Following their advice could result in heavy financial losses. @craig-grant being one of the biggest offenders.

why are these sort of pyramid schemes so popular, when you'd make more simply through buying and holding coins?

Once people get fooled in, they have to market it and defend it until it's death. Sometimes it takes a lot to admit to being fooled. Promises of getting rich quick basically doing nothing attracts many. I hope we as community will be a bit more vigilant next time something like @craig-grant and bitconnect shows up in another from.

Thanks for being one of the people who didn't get swept away by emotion and greed and saw behind all the hype and fanboys. I love how much you value the trust and genuinely care for your followers. Cheers buddy :) Bitconeeeeeeeeeect!!!!

  ·  2 years ago (edited)

EEEEEeEeEEEEEEEEEEEEEEEEEEEEEEEEeEeEEEEEEEEEEEEEEEEEEEEEEEEeEeEEEEEEEEEEEEEEEEEEEEEEEEeEeEEEEEEEEEEEEEEEEEEEEEEEEeEeEEEEEEEEEEEEEEEEEEE!!!!!!!

This is how I know I'll never be scammed by Bitconnect and other schemes.

i dont understand why ppl keep saying it was a scam! you cant say it was a scam if they didnt steal nobody money

Rofl!!’ I always wanted to punch those bitconnect people in the face. They seemed like such douchebags. Muh freedom, muh finances, muh high rise condo I rented from air bnb. Worse than Tai lopez.

In Steem rather than punching you flag - @craig-grant is back with "one million dollar" in titles of his videos. I wonder what he is pushing now. The easy life that comes from scamming people? He just never learns.

We should all flag the scammers right out the door.

Feel free to check out my post regarding my own experience with Bitconnect here. I was not hit as hard as others but I did treat the platform very cautiously.

I enjoy Buying STEEM and Powering UP !!!

Well, is there a better way to patronage quality content?

FUCK YES... Been waiting for this @dougpolkcrypto video ever since the Bitconnect collapse took place! Time to pop some popcorn and enjoy the show!

OMG this was classic, Doug you're too damn good at talking about Bitconnects bullshit.

"Notice the plural, he said jets, not jet"...

LOL

It was a ticking time bomb waiting to explode and collapse. If it looks like a pyramid and smells like a scheme.....

Ahaha Ponzi's for days

They Knew what they pumping a bag of shite and they knew that people would left holding it. It should that these people are very untruth worthly its a shame they are in the crypto space bad eggs

Unfortunate to say the least.

That's crazy. The good thing is there are still BCC coins to hold on to. I hope the coin won't disappear and will regain value over time.

yes it's dead , but what about money of peopls?....scam scaming scammer !!!the big scammer is the government who let scammer jokes with money of peopls for few taxe...

I was an early investor and luckily recouped my initial back, in USD not BTC, before it collapsed. Looking at the math my initial investment cost me huge gains in BTC over the year. I would have seen huge gains had I just HODLed the initial BTC I invested instead . Lesson learned and thank you for at least trying to warn others.

I'd joined several variety of MLM companies. The style of Bitconnect pretty much similar to most of those I joined maybe not all of its aspects. Most MLM are good at the start. In the long haul, it slows down. Some and maybe many failed and created another same concept. But there were those MLM companies that were successful, a few of them I guess, but the momentum I guess had slowed down. This is my observation and personal insights..Steemit has no affiliate program but its pretty much impressive in the overall style of its concept. Huge users, Alexa rank very good. Maybe because its decentralized unlike giant companies that are centralized sharing all profits to the shareholders.

Yo Doug! I quiver in fear just typing his name but I got your back if Crypto Nick steps up to you!

Dude he knows various forms of kung fu. Be cool.

Doug or nick?

Yes.

Play smart and safe. Bitconnect It is a cryptocurrency and a market and should be approached as such...

Buy Low.. Sell High. The rules never change.

Personally I'm Buying every BCC token
I can get my hands on under 30$

From there, I can do one of two things to majorly profit one of them instantly..
(permitting I dont live in the United States)

Ignorance creates dogma, and fear disrupts patience.

Ill write an article about this tonight,,.

http://steemit.com/@brado

I don't think anything much will happen, the people who were conned will unfortunately lose their money and the con men will walk away with the money they scammed.

BitConnect is a typical ponzi scheme. I hate those promoter on YouTube. All they want is the referral money if you sign up under their IDs. Shame on them and shitty BitConnect.

Finally the scam has been revealed

Yes! Best video yet! Stay away from all HYIPs

And stay farther away from the HPVs!!!!

I swear Craig Grant and Yuliana had a baby and Trevon James was born. Craig is like 50 now and Trevon is 28. Is it just me or don’t they look like father and son? Lol

The brilliant thing about steemit is they can't pull down their shills on here. The blockchain never forgets!

Great Video! I am glad you have the courage to tell the truth and name names. This space needs honesty and content like this. Sorry to everyone who lost money but I do hope the community learns from this.

I feel so sorry for the people who lost their money.

I feel bad for those who lost their money. However, with bitconnect gone, this leaves room for growth on new ICOs. Thoughts?

Man - people where recommending bitconnect just a few weeks ago to me. Glad I was too lazy to take people's advice ha ha.

Thanks for the information
Luckily I didn't join him, when on the invite to join
thank you so much

I am very glad I listened to other investors and did not invest in the Bitconnect lending platform. Usually if something sounds too good to be true, it is! It is sad to see all of the people that lost their hard earned money because they listened to these big promoters showing off their daily earnings, but not understanding that most of the money was coming in from their referrals. These promoters knew there was no magical bot and I never saw a clear explanation as to how they thought the platform was generating money. I am assuming this is because they thought it was a pyramid scheme. The reason people didnt have faith in the platform is because the company was not transparent. People need to know who is running the show. We needed evidence proving there is an actual trading bot. Please make sure you perform research before investing. You will save yourself heartache in the long run. If it doesnt feel right, dont do it! Please dont be fooled by these Youtubers with thousands of subscribers.

You should post on #DTube !

Most scam coin developed my scammers should be fished out, thanks for the update on the happenings of bitconnect

Looks like the flash sale is coming to an end. Luckily it took out the ponzi bitconnect with it. Buy 'em up while you still can!!

$BTC longevity tested and proven again! 👍

Feel sorry for those who lose money.

Bitconnect is now Disconnect, sorry for all those who lost money :( ....

I have lost about 5k dollars .. big thanks for all them to make us loose .. but thats life if you dont loose you cant learn

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So sad.

Oh my god, unbelieveble... Disconnect...