I agree it’s not an old school ponzi. It’s a very clever new style of ponzi. They took people’s btc and then paid them back in worthless bcc. That was fine whilst the price of bcc was going up due to but pressure. But as soon as they announced they were paying out in bcc and closing there was an obvious rush for the exit and the price of bcc crashed. They controlled bcc entirely due to the massive premine.
If they were genuine they would have paid out in USD (as they did on loans normally). The price of bcc would then be irrelevant.
I don’t understand how people can defend this obvious scam. The only people who benefitted were the organisers and shameless individuals who dragged more people in to benefit from referrals.
Yeah that should be the right thing to do release it in dollar and let you do the exchange to bcc and then bitcoin. So they could have their coin. And everyone is happy. If the coin goes down it doesnt matter. Your dollar stays the same and also their coin isnt going down also everyone is happy. I think they arent botting all of our money because then the daily payout should be higher. That was allways my story when something goes wrong you get your dollar back and you exchange it back if the bitcoin goes down to 1 dollar it doesnt mind you get more bitcoin then. Or their coin. That is what i allways believed not o here is your capital back but we exchanged it for you here at 363 just before it closed i did a convert from bcc to bitconnect x for 257 or something Like that.
That’s the point. BCC serves no purpose, other than allowing them to keep all the btc and pay out in worthless BCC. This worked fine while people wanted to buy BCC, but when it ended everyone ran for the exits and the founders ran off with all the btc!