You are viewing a single comment's thread from:
RE: Breaking news: Bitconnect say they will pay back all their investors in Bitconnect coins, not Bitcoin. Edit: bitconnect price now down 88%
@swissclive, does bitconnet have anything to do with bitcoins? am not really a crypto guru as i just got a lil into bitcoin because of steemit so please whats this bitconnect all about? hearing about it for the very first time.
No, they just give themselves similar sounding names to be more attractive to outsiders. Bitconnect is a trading platform that promises high returns when you deposit Bicoin there. Here is an older article explaining how it "works" and why it is a scam. The content is still relevant plus what @swissclive just wrote.
So am I understanding this correct, they took everyone's bitcoins, and want to give rubbish in return? what about just giving back the original stake placed, in the same form as it was sent in, bitcoin? I am new to this whole buying and selling, and bought ripple, doge coin, iota, and lite doge in December, so I have lost nothing on this down turn in markets, looks like a lot will on that site though.
I don't know more than what the post says, but it does seem like they gambled away the Bitcoins and now are trying to replace it with their own coin (which is worth something, still).
You picked a bad moment to buy, but it seems like there is a pattern with dropping values at the beginning of the year. In a few weeks, it might look better again. Look here.
Thanks for the link will have a look, I am still up over £400 on ripple as I bought in a 20p and they are still 80p, I maybe should have sold early Jan at £2.40, hindsight is a wonderful thing eh :-)
Bitcoin and bitconnect are different thing like apples and pears. The bad news is that the public at large simply can’t tell the difference.