BitConnect is shutting down its lending and exchange platform || Lesson we should learn from BitConnect
source: BitConnect
BitConnect has officially announced its platform is shutting down. It is rumored for a long time that BitConnect is a Ponzi scheme. I feel sorry for the people who have lost everything by investing in BitConnect. Price of BCC is down from $430 to $5.70. Basically, It's price is nothing. BCC should now be $0. Look at the shocking nose dive from BitConnect. Heartbreaking chart for BCC investors.
Chart: coinmarketcap
BitConnect Cryptocurrency revolution is no more
This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD Source
BitConnect has found numerous reason to close down its lending and exchange platform
- Bad press
- Texas State Securities Board warning
- DDos attacks on platform
Whatever the reason they are mentioned in their blog post, the truth is people are losing hard earned money. There is no excuse to run a Ponzi scheme. BitConnect ICO is still running. I do not know who will participate in the ICO after this incident. Nobody wants to lose money once again.
One time, I was also tempted to buy BCC.Luckily I did not do it. A lot of youtube stars had promoted BitConnect day and night. They showed their earning proof which quite tempting. Now, You will not find them anyone.
Lesson Learned: We should not Believe youtube crypto Star.
RESEARCH YOUR CRYPTOS BEFORE INVESTING
Nobody will take responsibility when you lose money.
Anyway, If you are tired of Ponzi Scheme, You may look into Steemit. Interesting part is that you can start blogging without any investment in steemit. Moreover, Steemit will reward you FREE STEEM at the beginning.
Thank you for taking the time to read this post. Your comments and upvotes are highly appreciated.
My Comments on Steemit " Steemit is the best platform. Steemit is not an idea only. We are using it daily. So enjoy Steemit."
This was long forseen. I was planning to use it as a hedge it this morning. Good thing I checked my news feed before doing so. Lol.
Thanks for this informative news.
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