RE: Texas state securities serves Bitconnect an emergency cease & desist order
I am doubtful this will have any affect on bitconnect.
Nothing is mentioned about price manipulation, which is the real smoking gun if bitconnect is to be ended. Price manipulation is how the entire system is sustainable, and if laws preventing such were introduced it would be possible that the platform would be shut down. But very very unlikely.
The reason they fail to disclose information about the trading bot is because it isn't really a trading bot. It is just multiple accounts trading with one another to drive the price up.
Yes, Bitconnect is a ponzi scheme, but a completely sustainable one.
The only real damage this will do to bitconnect is outlaw use of it's referral program in Texas, but this probably won't be enforced.
People have been calling bitconnect's death since the day it was created. I really don't think it is going to die soon.
Yeah, It's quite sustainable and if I have the resource I would create another Bitconnect
Agreed