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RE: BitConnect SHUTS DOWN website for "maintenance" amid price collapse!
The dump was expected and predicted. It is simple math.
And now some are running for the door . . . and the door is shut.
- A lender's Capital was returned.
- the lender did not reinvest.
- the lender buys Bitconnect in large quantity driving the price up.
here's the tricky part
4)the lender has to buy BTC to send it off the exchange . . . and there are not enough sellers. - he dumps . . . BTCC crashes, BTCC closes the door hard.
Now we cannot get money out.
I was just a matter of time before someone pulled out of the lending and exposed how the system is set up/ and why it is set up that way.
that's what I think.
H. G.
Yea I knew this day was coming. I came across all the information on it being a scam after I invested, so honestly I've prepared myself for the inevitable, but I still feel like an idiot.
No reason to feel like an idiot. For the sake of the investors, I hope that this is just a temporary issue.
My wish is that no one gets burned.
Attention does need to be given to the recent closings of HYIP Ambis, Bitlake, Microhash, all proven scams that people were warned against, and yet they sent their money into the great wide beyond anyway.
And lessons to be shared.
Fingers crossed.
H. G.
Lessons to be learned for sure. @brenda-nalle was saying how there are videos of people borrowing money to invest into the site. I can't imagine how they are feeling right now. Let's hope it comes back up for everyone's sake.