Bitconnect Finally Failed - Attempt to Restart Ponzi with ICO
The price of BCC tokens has dropped below $10 USD, from the all-time high above $430 USD.
People who used the site, found that their lending wallets disappeared and they were given a distribution of BCC tokens as recompense. These BCC tokens were meant to be the fair market value of their lending wallet holdings, but because all the coins were released and the ponzi is over, the valuation of the tokens decreased significantly on the markets for anyone looking to recoup what they invested using the BCC tokens they were given.
Now that the first ponzi from bitconnect has gone belly up, they intend to start a new ponzi operation, funding it with an ICO. From an article on their website:
"For next 10 days we are allowing members outside the U.S.A, to participate in the BitConnect X ICO with BCC at $150. This is to support existing coin holders and give the BCC coin some initial stability after these recent events."
While I am not completely informed about this new round of fleecing investors, it does sound like they are trying to overcharge for a new platform token which will be a completely new ponzi operation.
Just when we thought it was over, all the BCC YouTubers will have a whole new way to operate their BCC pyramid ponzi schemes. We can hope that this new BCC platform remains below the top 100 cryptocurrencies.
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wow... nice post. i like your post to much. thanks for sharing the post.
$10 for a worthless token is incredible high price, compared to something useful like Steem at $3.54 today...
Notice the key outside of the USA if thats the case there is a good reason why we don't accept it. These scammers need to be stopped and people need to stop being so damn dumb to blow their money in this type of shit and when they do to stop crying to the FTC and SEC about their losses ITS YOUR OWN DAMN FAULT!
Yeah, but in the video comments I would get... something like 30% of the people would openly admit they were putting money into a scam, they just did it because they had money to blow. Others knew it was a scam but wouldn't openly admit it because they had the referral programs going.
People who seriously put money into it... should do more research.
I've been half tempted to pick a a few BCCs on the hope that people are stupid enough to pump this up again. I've seen quite a few people who got burned and refuse to believe they got scammed.
Well, if they made money on referrals and cashed out, then they weren't scammed. But denial is a normal behavior when people lose a serious sum of money.
Heart breaking to see all the videos on YouTube of the BCC victims. Especially the ones who went all in on it and have nothing now.
Old news to me. So is the BitconnectX thats supose to come. But it does not seem like they wil. Or if at all, not untill its mostly forgotten. As it was supose to have come several days ago.. as i found this post 1 mounth ago or so: https://steemit.com/bitcoin/@cryptojb/the-bitconnectx-ico-countdown-has-started-only-1-day-to-go-tick-tock
And the initiall fall of bitconnect happened January 7th. from 320 to 18 $.
Going from a 2 bilion market kap to a 200 million market cap.
Thanks for the info, yeah it was old news but I wanted to cover it now that I'm back since I had bashed on it so much.
BitConnect X is a backup plan to raise extra money for a collapsing Ponzi scheme.
Coins mentioned in post:
Who could possibly fall for this again?
Is Buyucoin the bitconnect of India? read it here https://steemit.com/buyucoin/@brindapr/is-buyucoin-the-bitconnect-of-india-ponzi-scheme