LOL BitConnect came back up yesterday; today they have stopped BTC deposits and withdrawals!
Here's their blurb:
We have temporarily disabled all Bitcoin deposits and withdrawals.
Due to the large number of deposits and withdrawals, we are having an issue with Bitcoin wallet. We are in process of fixing the issues. Read more
-The Team
Bitconnect
I still don't expect I'll get anywhere near my initial investment back. Apparently, they don't know how to code and allowed people to withdraw more than was in their account, and now they're saying it's those people's fault, not theirs.
I don't believe their explanation; I think it's an exit strategy.
I withdrew a day or two before it shut down, and never saw that I could withdraw more than was in my account. I think they're lying. Like Ian Gregson did recently (see here, you'll have to click "Show": https://steemit.com/introduceyourself/@sift666/i-am-new-to-steamit#@libertyteeth/re-sift666-i-am-new-to-steamit-20170828t215217742z ).
it's sad to hear that you are not able to withdraw at least your own investment, well that is the big problem with those ROI or Hyip programs they promise so much but at the end of the day they run's away with peoples money, i think the early birds can only able to fly high in these programs, i wish you get your invested amount back, thanks for sharing
Yes, exactly, thanks.
It does not look good. Create a glitch that adds extra cash to your user accounts and then close them down and accuse them of what you are actually doing! Takes some big "cojones" amigos!
Yeah! Stab you while at the same time crying out in pain, I've heard that somewhere...
Ha ha... crazy!
Hopefully you get most your money back. I hate for anyone to get screwed over.
Yeah we'll see. Thanks!
I smell a scam. Good for peoole who made profit. How can you create a system with no checks and balances and people were able to withdraw more than the amount in account.
Yes, exactly. When somebody harms you, it can be only one of two causes: either they're incompetent (and didn't mean to), or, they're malicious (possibly, some combination of the two; most villains are somewhat incompetent, in the cartoons).
Hanlon's Razor says this more eloquently: "Never attribute to malice that which is adequately explained by stupidity."
Here smell strange it's too good to be truth
Exactly. My earlier analysis shows that they're not paying out nearly as much as it looks like, due to the necessary conversion to BCC and BTC: https://steemit.com/life/@libertyteeth/bitconnect-is-gaming-the-system-btc-will-keep-rising-and-they-transact-in-dollars
That was the first "too good to be true" indicator, and now they're pulling the scam and crying victim!
Good thing I didn't put any real money in there.
Sounds like a scam and some big fish convinced a lot of people to join along.
Agreed; I was one of the convinced, but thankfully I chose not to do the convincing after investigating it.
I never copy paste a comment, but seeing as how well it suites this xD
"With all the stuff I see posted lately about Bitconnect I am glad I got none lol."
"Hi, I'm cheetah, I found ..." :D
Definitely agree with you!
I agree with you i think it is still an exit strategy
Thanks yeah I hope everyone who was in this is able to get out.
Great info.......
Yeah, I really think they might be about to exit but time will tell. As for that glitch, it was reported by Trevon James days, possibly over a week before BitConnect originally went down, so I could believe that but you can't blame that on the people who exploited it. Last I heard they planned to find accounts that did it and if they were able to withdraw, BitConnect is putting the account in the negative. Forst, those users know this and will not deposit it back. Second, it not their problem honestly. The exploit was found by hitting a button twice consecutively before the system realized, so some of them could have gotten it by accident even.
Anyhow, for those of you with money in, I hope you are able to get it out but this isn't looking good. I had thoughts of investing with them and think I only didn't because I felt like it might be too late to be able to make my money back before it went down. If they go back to allowing withdraws, I would take my coin and RUN!
Glad you didn't! Will let you know what happens, yeah I'm still less than halfway to the end of the 120 days, started on July 9th...
so if the lot attendant who parked your car left the keys in it you wouldn't blame the thief who stole it?
It's a bit different when most people investing know that this is going to collapse at some point. When the price of their token drops from 140 to 38 dollars for them simply being offline for a few hours you can tell that even those promoting it saw that this could be the end and took what they could. I see what you're doing trying to simplify it but things are a bit different in this new, barely regulated, budding industry.
Also, the use of a down vote is normally used for bad material, spam etc. A difference of opinions, handled completely civilly shouldn't result in a downvote but it's whatever. Just want to give you a heads up as you won't get fair downvoting every person you disagree with. Good luck.