Wave Goodbye To The Bitconnect Ponzi Scheme: UK Registrar of Companies Threatens To Shut Down Popular Bitcoin Investment Site BitConnect (BCC) In 2 Months Time
UK threatens to shut down popular Bitcoin investment site BitConnect
It turns out Ethereum founder Vitalik Buterin might have been right to suggest popular Bitcoin investment platform, BitConnect, has been running a Ponzi scheme after all: the UK Registrar of Companies has threatened to shut down the dodgy platform and dissolve its operation.
BitConnect has two months to prove “cause to the contrary” until the decision has been formally enforced, according to an official filing on the British Companies House website. Should the company fail to comply with these terms, the government agency will strike off its registration and seize its assets.
Sources:
-https://thenextweb.com/hardfork/2017/11/13/bitcoin-bitconnect-uk-ponzi-investment/
-https://beta.companieshouse.gov.uk/company/10278342/filing-history
"Bitconnect Scam", "Bitconnect Ponzi" & "Bitconnect Pyramid Scheme" Trends Exploding... Is The Bitconnect Ponzi Scheme Close To Its End?
Ponzi schemes come in various different forms, and can last for varying amounts of time before they come crashing down, but in the end they are basically the same thing, a giant scam. Many people today still tote Bitconnect as a legitimate crypto platform offering low risk and high reward outcomes on a consistent basis, but this is mostly due to the pyramid structure the platform uses which helps prolong and mask the scam for as long as possible due to the users who buy into the scam finding themselves in a situation where they are better off playing along with (or playing ignorant to) the scam to continue their unrealistic gains (or glowing affiliate users under them) instead of taking a close look at the system as a whole to understand the unsustainability, unrealistic profits, and a plethora of questionable aspects of the platform as a whole has.
Read More: https://steemit.com/cryptocurrency/@budz82/bitconnect-scam-bitconnect-ponzi-and-bitconnect-pyramid-scheme-trends-exploding-is-the-bitconnect-ponzi-scheme-close-to-its-end