BitConnectCoin Scam Update - The Last of It
On my previous article (second paragraph), I have written the following: (Where there's crossing out/brackets, it is the new "edit")
What became an eye opener for me was an article by @thegrinder exposing BitConnect Coin as a scam. @sebastianjago referred me to it via the comment section of the latest update of my Bitconnect Coin Chart Article. Well, the points presented on the article are worth the thought of thinking twice and the comments are quite argumentative. Overall, I have decided to not release the updates as frequent as I used to, but will continue to do so. (I WILL NOT DO SO) The future of BitConnectCoin is one of uncertainty (It is a PONSI). Typical pump-and-dump scam coins would have (will) died out by now, but the future will tell, especially when people who have "lent" loads of cash get their money back (They may not get their money back). How will the market cap be affected? (speculation states that it is faked) Will the owners (whales) sell and run? ... We shall see.
Reference to @thegrinder's Article
To those who fell prey to the scheme, and couldn't benefit, I apologize, especially those who were under my referral link or read my articles to join (in which it was not many people from my side though). Those who made a follow up knew that I was promoting this coin. Cryptocurrency is new still (the vast majority has not adapted) & many people are trying to benefit from the US$30 billion and growing industry by various means.
Brave of you @sthumacher to ADMIT and speak TRUTH.
I don't hold you accountable.
Here is my little update on BCC
https://steemit.com/bitconnect/@cassidyandfranks/april-27-2017-rank-23-bitconnect-bcc-usd8-38-7-88-0-00648126-btc-9-21-stats
how about the Torcoin? can you give us same opinion?
All I know about the Torcoin is that it is said that it is not developed by the The Onion Router company (I think I saw that at the Bitcoin Talk forum). People are mining it at Zpool and follows an X11 algorithm. If it has "investment" opportunities, then I am not aware of such.
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.