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RE: BitConnectCoin Scam Update - The Last of It
If I lend out BTC I want to be paid back in BTC. I don't mind long loans but I want to be exposed to the price increases. Bitconnect doesn't do what I want it to, but then neither did Bitshares . I still want my +5% on everything!
On one of my articles which used to promote BitConnect Coin, @henry-gant told me that the profits made from lending were profits made in USD, not Bitcoin, hence he had already predicted that many people will be angry once they find such a realisation. Some were content though. I want nothing to do with BCC though now. They (Bitconnect Coin people) were, however "smart" when taking peoples BTC in return for USD profits. BTC is volatile, yes, but it is growing exponentially and they made a plan to "benefit" from a SCAM.
I haven't made a follow up on Bitshares though, but I will check it out.
I really believe that it was that article that started opening eyes as to how Bitconnect operated.
Then the questions started, which was good for community awareness. Smarter investing choices were made.
After, of course, the inevitable happened; the uninformed found a new crusade in which to label people "scammers" as the pendulum swings too far.
You are to be commended for your contribution to the Steem.it community.
Thanks for your kind words Henry and thank you for your input throughout the whole thing. I hope that such eye-opening collaborations can continue in an effort to strengthen the Steem community for the best.