I just reported Bitconnect to The UK company Investigation service let's see what happens.

in bitcoin •  2 years ago  (edited)

What I could find Pyramid schemes is illegal in the UK and its a UK company.
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@debugger really guy, why did you do this??
Do you know how many poor people are actually benefiting from this platform regardless of anything, also the idea behind crypto is deregulation and not having to answer to the man, this platform has been working for everyone, and you feel you have the right to put a spanner in it. very disappointed in your action,

The UK government will now take everyone's money and that would be the biggest "Ponzi" ripoff ever so you basically just screwed millions of people out of money. silly boy.

  ·  2 years ago (edited)

Oh no, I reported a fake company. If they are legit they have nothing to fear.
Wait why even register if you don't plan to keep the papers in order. Yeah right just so you look legit.https://steemit.com/altcoin/@debugger/bitconnect-have-not-shown-the-proper-paperwork

Why, you ask this explains it https://steemit.com/cryptocurrency/@debugger/why-bitconnect-is-a-scam

If bitconnect is really a scam, a ponzi scheme, it can die by itself. No need to report it. There're a lot of ponzi schemes online, those people who join ponzi schemes all know about the risk themselves. They only want to take their chances.

So what evidence did you actually have that they are operating illegally? Because "Multi-level Marketing" is a broad term naysayers like to think is illegal but there is a difference between an illegal "pyramid Scheme" and MLM. In other words MLM is not illegal in the UK. So did you have any actual evidence aside from your opinion?

  ·  2 years ago (edited)

I don't need evidence I just pointed a finger look at this, It should be investigated.

Yeah you are right MLMs are not illegal in most countrys. Edited out MLM now.

For starters Bitconnect LTD looks like a shell company.
I have two other posts that I share my suspicions about this so look there.

  ·  2 years ago (edited)

I get that. It's appreciated too. I'm in the process of hiring investigators to verify my conclusions before I conclude whether or not they are legitimate. Despite all the red flags, everything does works as advertised. Including the security measures which do not have access to the most important information such as bank accounts. But if it is indeed a ponzi than it's completely possible that it is a Chinese hacking operation working out of Singapore. Hell, maybe even Russia since apparently UK was an important target market. This whole thing intrigues me because it must have taken a decent amount of investment to build this system which works completely as intended and appears to be completely legitimate.
But last week I searched through their UK corporate documents and it didn't hit me at first but I realized that they had no filings since registration. I don't know the laws in the U.K. but in the U.S. I have to follow strict filing guidelines for my corporations and if I don't I lose my corporate veils and they will shut me down. Our corporate system is built on English law so I'm betting it's the same there. The only legal reason I can think of for why there aren't any filings is they are in actuality a foreign corporation that filed in the UK so they could do business there however, there is no corporation filed for bitconnect in the U.S. meaning again that they are operating outside U.S. law. But again that is one of the major reasons crypto-currencies became popular and most are operating in this manner as well.
However, since the U.S. Patriot Act, it's pretty clear the government isn't going to sit back and do nothing forever. Conspiracy idiots in government suspect everyone as being a terrorist. The more I dig into this, the more I think that not only is it going to shut down, but some of the big people involved are going to have government agencies knocking on their doors investigating them. Either that or I could be completely wrong and a year from now they are still operating as advertised. Interesting situation. They have all the red flags of a shady operation but still look and operate as a completely legitimate operation. Pretty advanced if it's a ponzi.
Address is an apartment:
http://thepanorama-ashford.com/location.php
Incorporation Info:
https://beta.companieshouse.gov.uk/company/10278342

Yeah i igree but the things with pyramid schemes is that the tend to work as long as the account balances grow of the Pyramid owners when its starts to balance out they exit.
You get money out untill you dont.
Yes this is probably a shell company i think there is i reason why most promotions is in Asia.
The little UK law i know, you have to report any income/holdings after a year.
Uk Crypto tax seems to be like every normal currancy there.
Take a look at these made them some time ago.
https://steemit.com/cryptocurrency/@debugger/why-bitconnect-is-a-scam
https://steemit.com/cryptocurrency/@debugger/who-is-the-real-owner-of-bitconnect

Btw, I actually pulled a credit report on them not even a phone number registered anywhere

I actually don't even care if they aren't in compliance with tax laws. The only reason it matters to me is because so many other things about them seem sketchy. But the greedy deep state tax system siphons so much money from businesses for their wars I actually applaud them for operating outside the system. I hope they are legitimate and really do have software that is so accurate. Because I'm sick of traders telling me they don't provide service to my state because it's too costly. This government has an endless appetite. So fuck em. I did notice two days ago that an error message popped up stating that loans were not being allowed for X amount of time (timer countdown) because Volatility was outside of 10% perimeters. This actually makes sense because at that time the BTC was dropping and volatility really was over 10%. So that was something I didn't expect.
lending-postphoned-message.jpg

haha

Tick tock boom 🤑😲🙁😖😳😭💩

Grammar and spelling corrections
"lets se" - did you mean Let's see
"Pyramnid" - did you mean Pyramid ?
"shemes" - did you mean schemes ?
"uk" - did you mean UK ?

Much Hurry ? I sense this was rushed...

What value are you bringing to the market to replace them ?

Why not let them succeed or fail on their own merit ? We need to watch and learn what works in the Crypto Space. Early obstruction and over-regulation are not the answer.

  ·  2 years ago Reveal Comment

Me too and "I knowe on whiche syde my breade is buttred".

  ·  2 years ago Reveal Comment

l like toast

  ·  2 years ago Reveal Comment
  ·  2 years ago Reveal Comment

  ·  2 years ago Reveal Comment

Not really, just bad grammar, sorry for offending your highness.

You should let grown adults do what they want with their own money, instead of trying to ruin the party for everyone. Bitconnect has done everything they said they would do, and when they come back online tomorrow, I hope you consider your actions..

Im just pointed a finger and said you shuld take a look at this. Its Clearly a shell company so its not like something will really happen. Because it dont really exists.
So you can keep investing your money, May the gains be with you.

Really. why???

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