First my condolences to all who felt it necessary to put more than you could afford to lose in Bitconnect. I understand that temptation is the crux of many a problem speculator/gambler within the cryptosphere. To you I say that this lesson no doubt will hopefully serve to guide you from making the same mistake in future.
So what happened? We'll the damn pillars holding up the Colosseum just crumbled but the tourism guides are still trying to tell you your tickets are still worth something and to wait for them to rebuild it (I trust most people know what went on because I am not looking to explain the situation in full). In short the lending, referral, staking (not 100% sure as yet) and exchange aspects of the platform are halting due to what Bitconnect believes is bad press (which is a bit bloody hard to counter if you leave it up to YouTubers - not a reputable PR company but YouTubers - to facilitate the public relations with regards to press), Cease and Desist letters and DDos attacks.
For me this came as no surprise. In my first post about Bitconnect I mention that pretty much all categories leading to a scam were checked. But with that being said I proceeded to invest anyway, why? Because I like money! The prospects and alluring nature of easy money got the better of my inner gambling addict! So off I went and deposited$280 USD worth of BTC ( 0.119). Lets stop and explore that for a second.
That initial BTC investment is now worth $1350, ain't hindsight a kick in the nut sack?!
Although I did end with an active investment of $1410 (in BCC mind you) I only managed to pull out around 0.02 BTC (about $230 USD)before the supposed end. So I didn't lose much at all. I should also mention that they have reimbursed everyone their active investments in BCC! But what could possibly be wrong with that? The tanking price of course!
I mean I could go to HitBTC and exchange my $1410 worth of BCC (3.9 coins based off the monthly average) for $28 worth of BTC a pop but at this point I'd rather sit back and watch what becomes of this whole incident. Who knows the price may rise!
LOL - Live and learn people. The crypto space is vast and dangerous, do your research and due diligence and most importantly, don't bet the damn house on any new industry unless you own a few!
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