Bitconnect Goes Down - Price Drops to $30 - I Warned You Guys
It Was Only A Matter of Time
Hey guys, so today was the day. As I've been saying for quite some time, Bitconnect is and was a scam and it was only a matter of time until it went down.
I realize that some people made a lot of money through this platform, I only hope for those of you who did that you took those "paper profits" off the table and cashed at least some of that out.
I'm actually very sad for anyone who lost money, I don't like to gloat at anyone's mis-fortune but I've been warning you guys about this for a long time and even went as far as to lose my own money to LaserOnline and BTCHash just to prove to you guys all these programs are scams.
A while back Trevon and CraigJames both faked hacks, I knew at that time it was just a ploy to get their money out, I'm guessing they had inside info this was going to happen so this allowed them to get out and have a reason they got out as opposed to people seeing they were taking their money and running and getting nervous and pulling their money out.
I'm curious to hear from anyone who actually had an account and had money in there. Were you able to login today? Were you able to transfer money out?
Currently the price is sitting at $30, I'm sure it's going to drop lower. This news just came out within the past few hours and I imagine some people in the USA were at work and either weren't aware of this or if they were maybe couldn't access a computer to cash out.
I have a feeling this price is going to slide further. While Bitconnect still says they are going to stick around, my question is for what? The BCC token was a utility token for the Bitconnect lending platform, with the platform no longer existing what utility does it have? Also who would trust Bitconnect at this point.
I feel for anyone who lost money, but at the same time I'm also mad as this gives a bit of a black eye to the crytpo community, and it's also poor timing that while Bitcoin and cryptos are already struggling, this just helps to further the downslide as I imagine the folks behind Bitconnect are dumping all your Bitcoins right now furthering the slide down.
Curious to hear your thoughts? Drop them in the comments section below...
I had the same arguments with people getting into Bitconnect who told me I was an idiot for buying Bitcoin 3-4 years ago. There was never any "Trading Bot" nor anyone proof of one. I am quite frankly pleased with today. Nothing will benefit this sector more than flushing out the bad actors and the Altcoin pump and dumpers.
Hey @vogeltron1 yeah I agree it's refreshing to flush out some of the bad actors. My fear however is that this gives a bit of a black eye to crypto from the eyes of people who don't know enough to distinguish between HYIP programs and ponzi schems and actual cryptocurrency. The timing of this doesn't really help either with Bitcoin and crypto already in a slide. In the longrun though your right it's healthy
Yea, I agree. Anything that brings in the Government is always not good in my opinion.
Crypto coin/token with affiliate program attached to it most likely will ruin the coin/token in the long run. As we can see now on coinmarketcap all the top 25 coins/tokens have no affiliate programs attached to them. Top 26 is Binance. If Binance continues its affiliate program, it won't survive in the long haul.
As an affiliate marketer I like affiliate programs so I'm biased, however Binance is simply an exchange and they want to get the word out, with Bitconnect essentially being a ponzi scheme it was like hey bring in more suckers and we'll pay you.
I agree I think the Binance affiliate program will go away but not because of reputational harm but more so just because they don't need affilaites, they're growing super fast and don't need to pay people to get the word out. Heck they've already dropped the affiliate payout from 50% to 20% so soon enough it will go away entirely.
What's your thoughts on Kucoin token? It's dirt cheap today thinking about picking some up. I'm not a fan of the exchange myself but know that many others are. They also have an affiliate program
Kucoin has MLM attached to its affiliate program. Its a good start as most MLM companies are but for long term, I'd rather pick Binance. I like Kyber Network (kyber.network) you can check it out. And love to hear from you if you make a review.
Shit was bound to happen and everyone was warned. sorry not sorry my friends!
Always told everybody that BitConnect was a scam...
Dropped all the way to #100 on CMC. I too think it’s a scam but did bitconnect come out and say anything? Or are they just bleeding like every other crypto?
Lol. But I really dont think bitconnect is the only one suffering this misfortune. For some days mow, the crypto community have really been bleeding. And as some people predicted. Its just the genesis
A sad day many will have to go back to a job after this, diversify into other alts.
i watch your video on youtube @rulesforrebels
Ouch, its hard to feel bad for people who fell by this. But in a seriousness, there are a lot of people who lost a lot of money because of BCC. That sucks.