Bitconnect lending meltdown
Many people lost a lot of money, life savings, and even houses to bitconnect. if you are one of these people, youve broken one of the biggest rules in investing: **NEVER INVEST MORE THAN YOU'RE WILLING TO LOSE!! **
Note that bitconnect is not closing down they simply discontinued their lending platform
So, you're stuck with "worthless" BCC coins. What to do now? Well idk, I'm not a financial advisor and this blog is not intended as financial advice. This blog is intended to share my crypto journey.
My crypto journey has led me own 11 BCC roughly valued $363 (at the time Bitconnect released everyone's coins). Today 1 BCC is worth $16.23. After many stress cigarettes, and much thinking I decided to spend some bcc to buy bccx and stake the rest. Is this a good idea? The best one I can come up with. Am I a financial expert? Hell to the no. I'm just trying to cut my losses.
If you for whatever of the plethora of reasons can't buy into bccx, stake your BCC.
If you don't know how to stake your BCC let me know in the comments below and I'll dedicate a post to it.
Thanks for the upvote!!
Happy trading!
I heard one person commited suicide over bitconnect. It was expeced, always when ponzi scams fall apart, many lives will be ruined.
That's horrible and I'm sadden to hear that. In the world of finance as a whole, many "experts" forget the human aspect of money.
I'm not associated with bitconnect at all. Like many others, I was participating in the lending program when it unexpectedly was shut down. I don't personally believe it was specifically intended to be a Ponzi scheme, but I do agree it had aspects of it.
Since then, I'm seen a big buzz on other lending platforms similar to bitconnect, to which I personally am avoiding. This post was simply to vent anger at bitconnect after my losses with it.
From here on out, I am going to be sharing my journey through Bitcoin and other altcoins
It is absolutely intended to be a ponzi scheme... What their business model promises is impossible to achieve for a multi-year period. They're paying old investors with money from new investors. They're not actually making any money.
Perhaps. At this point I'm just curious to see what they're going to do with what's left of the company. I'm curious to see if they'll try rebranding