📣 The UK Registrar of Companies could shut down Bitconnect!📣

in #bitconnect3 years ago (edited)

According to the The Next Web: "The UK Registrar of Companies has threatened to shut down the dodgy platform and dissolve its operation."

As I wrote yesterday in an attempt to warn new crypto investors to not invest in BitConnect for these 📣 10 Following Reasons📣.
Link to my Blog Post: https://steemit.com/bitconnect/@vlemon/warning-do-not-invest-in-bitconnect-it-is-a-ponzi-scam-read-these-10-reasons-why

BitConnect has two months to prove “cause to the contrary”. If not by then, the decision will be enforced.

“Upon dissolution all property and rights vested in, or held in trust for, the company are deemed to be bona vacantia, and accordingly will belong to the crown,” the document reads. Many have speculated that BitConnect likely stashes its funds abroad, though there is no evidence to back this up.

Here is the full letter of notice they sent to BITCONNECT LTD

Image Credit

The Crypto Community has been increasingly worried about another Ponzi Scam

As this discussion between Vitalik Butherin (Ethereum CEO) and another Crypto Investor shows:

November 3rd, Changes have been made to the affiliate program with just 3 levels left compared to 10 before July 2017 !

Image Credit

We have not heard from Bitconnect yet. I advise every investors and crypto-enthusiasts to be very careful.

Please share this warning and tell your friends and relatives to stay away.



Ouch! Kiss your money goodbye! Craig Grant has already unloaded and run for the hills (if you believe that phony story about being hacked, then I have an opportunity for you to earn 1% daily if you give my your money and I hold it for 292 days).

This scam is toast!

Can't wait to see this blow up. BitConnect is purely built on hype and Multi-Level-Marketing. I've been a very strong critic against BitConnect among few others. I still think this ponzi will continue for some time before it really blow up. Bitcoin dethroning will devastate BitConnect and hopefully the frauds who pumped this up would face legal authorities and have their assets frozen. I mean this would be one of the rare occasions where a government would do what it's supposed to do. Fraud is an aggression IMHO.

Thank you for the comment and videos.

These are 3 videos investors should look at before making a decision!

They are actually from a much longer post: https://steemit.com/cryptocurrency/@vimukthi/trevon-james-vs-vitalik-buterin-in-depth-analysis-commentary-on-bitconnect

I also found 3 valuable posts by @arthuradamson and even had some heated discussions on the posts. They contain a lot more in depth info. Going through all them could easily take hours. But you'd find very good stuff among those hours spent.

Happy steeming and Happy to help :-)

Will the shutting of bitconnect affects steem value ?

I do not know but I don't think it will affect it a lot.
The crypto-World might have a negative Press Coverage when this tragic event will happen.

I don't think they are going to shutdown, I think they will just reduce the gains slowing up to zero, then the coin will remain, as any other altcoin.

Let's hope they shut it down soon, before many more people throw money into it.

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There must be some way to short it...

Bitconnect Scam

If they can shut down Bitconnect which has a blockchain, why can't they use the same trick to shut down Bitcoin? Maybe people cheering for Bitconnect to be shut down should think about what it means for Bitcoin in places like China where mining is banned.

I'm pretty sure they have enough money to switch their website over to a different server, and register in a different country, one that cares only about the money... so I think they'll be good.

tolkatore, But aren't you worried that they have to shut down because they can't show cause? And that their business practices are changing in a way that diminishes the previous payout terms?


They don't have to show anyone cause, because they could continuously setup shop in different locations indefinitely.

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