BitConnectX ICO - Scam or not?
As you can read on their website
BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom-loving individuals who, like you, are seeking the possibility of income stability in a very unstable world.
Indeed, BitConnect is a cryptocurrency (BCC) and a platform that promises its investors a return of up to 480%+ per year, and even a guaranteed profit of up to 91.25% a year, depending on how much you invest, with no risk of loss! Their secret is a trading bot.
Bitconnect has been threatened by the UK government because of its Ponzi scheme.
Bitconnect had two months to prove “cause to the contrary” until the decision has been formally enforced, according to an official filing on the British Companies House website. Should the company fail to comply with these terms, the government agency will strike off its registration and seize its assets.
BitConnectX
Today BitConnect started a new ICO called BitConnectX.
They state that BitConnect X (BCCX) is an open source, blockchain based, decentralized cryptocurrency that enables instant payments to anyone with minimum transaction fees. BitConnect X also allows you to earn interest for helping maintain security on the network by holding BCCX in a Qt Desktop wallet that is attached to the network and allowing transactions to flow through it.
Why BitConnectX?
They promise that BBCX will
- give you REWARDING
- have LIGHT FAST TRANSACTIONS
- have MINIMUM TRANSACTION FEES
- be DECENTRALIZED
ICO Distribuiton
The total daily unsold coins will go to reserve funds for marketing, development and administrative work.
DAILY UNSOLD COINS. Normally, the unsold coins are burnt.
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What is the price of this ICO?
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Well, the price of each BCCX is $50. Yeah, $50. WHY?!
But during the 45 days of ICO there will be two levels of bonus:
- 5% Bonus from January 10 th to January 24 th
- 2% Bonus from January 25 th to February 8 th
- No bonus from February 9 th onwards
Roadmap
Whitepaper
THERE IS NO WHITEPAPER. You can only get information about BCCX by rondomly clicking on the website.
Probably BitConnectX is another SCAM project, maybe it will last for some months but I cannot see anything solid in this project.
Is it just a coincidence that BCCX is out now that the UK Government wants to shut down the BitConnect website?
there will be NO unsold coins..
Nothing is scam as long as it does what it's supposed to do, and no one will be unpaid. The word "scam" is becoming a loosely used word thrown around everywhere by ignorant people. They say it about things and projects they don't understand.
Even the BCC lending platform was never a scam, even now it's not a scam, yet there are people and even some news articles calling it a ponzi scheme. That's very ignorant, based on personal opinions and not facts, no proof at all.
The lending platform was closed and all the capital released to the investors. It was up to them what they had to do with it. Most of them sold the coins, but it's very short sighted and dumb.
The BCCX website and the information about the project leaked before the UK and USA started messing with the BCC platform.
I'm not a fanboy here, I don't like to see the word "scam" thrown around so loosely. And you can see where it goes, the FUD machine works at full power, the whole coinmarketcap shows huge decline, because gullible people are scared...
Actually, it is a scam. I have never used this word until now. They should have allowed everyone the opportunity, that lost so much in BitConnect, to buy with their BitConnect the coin without anyone else. Then open it up to others who want to invest. The limited the coin to very minimal and didn't give people a chance to get rid of the BitConnect at the price they were at. Actually not sure what you mean by gullible. Gullible would convey a coin you shouldn't "trust." Thus it says it's a scam. So many people lost enormous amounts of money with no way they could ever trust lending and started a decline in most of the lending programs.