BitConnect To Close Lending Platform - I've Never Invested, But I Want To Know "Are Withdrawals Working?"
UPDATE: It appears people are being paid out in Bitconnect Tokens, which have now gone down about 90% in value; I guess that's how the scam worked. Have enough Bitconnect Tokens To Cushion Yourself To Pay New Investors. Someone correct me if I'm wrong, but it makes sense; they wait until the price of Bitconnect is VERY HIGH, then they pay out investors as it begins to lower, ensuring they have enough Bitconnect to cover the promised interest over time. Sorry to everyone who lost money.
The single largest Lending Platform in the Crypto World (millions upon millions upon millions of dollars) has just announced:
They say this is due to cease and desist letters, DDoS attacks, and bad press. I was not invested in this at all, but I'm wondering who has withdrawn yet; are withdrawals working effectively right now for users who are in it?
@trevonjb @craig-grant , any comment? I know you two are huge proponents of it and high-profile YouTube Personalities, so I'm wondering how things are looking and/or if you still were in it as of the announcement. Other Steemit Users, what has your experience been today? I think the next 24 hours are very important for the platform and we are going to see A LOTTTT of news regarding it over that time frame.
Not suprised tbh, the BitConnect loans were too good to be real just like any other Ponzi scheme. I’m curious myself to see what happens to all those who have yet to withdraw their funds...hope they don’t lose everything they have!
Yeah, agreed. Scary stuff.
Wow this article is only 16 minutes old! Great find and interesting news! I've never touched Bitconnect because it "didn't pass the smell test" for me personally, but curious how this all plays out over the coming months.
Yeah, I'm really interested in seeing. I lost a couple hundred dollars a little while back with a site that was similar (hexabot) in premise (and a huge scam) and I pray this isn't the same deal because there is A LOT more money tied up in the BitConnect Platform.
Yeah I mean for the sake of the people tied up into it A LOT, I do agree I hope it doesn't crumble. BUT if it truly is a ponzi scheme...as weird as it sounds I want it to crumble! I'd rather it give crypto a black eye now and move on rather than lasting for years and destroying a LOT more people.
Not saying it's a ponzi scheme and not saying it isn't. Just saying if it is, I'd rather it close up shop sooner than later.
Yeah, good point. it's gotta crumble some time IF it is a Ponzi
Hmm quite big news! Well, let's see how it will turn out. Hopefully everyone can withdraw successfully...
Yes i think this the end of Bitconnect maybe im wrong or maybe im right we will see with time
That's very quick updating. Thanks for update steemians from this post. Glad news for has opportunity to take withdrawals. Hurry up...Lets do it
I try to keep everyone in the know as quickly as possible! :)
Heard of another similar crypto lending platform, that you can not login to anymore, regalcoin, maybe connected?
Yeah, not sure if connected, but could be a similar model.
It was very expected.Might be due to bitcoin down
this is very intersting!!
There is no real idea of what to say about bitconnect in the present will be a little wasteful
I am wondering how it can borrowed the money, what is the collateral for such loan?