What Bitconnect was all about (IMO)

As some (if not all) of you should know by now the Bitconnect lending platform has stopped all of its activities, taking down with it the BCC price (5.93 USD per coin right now, from a 24 Hr high of 331.04 USD, according to CoinMarketCap) and helping to bring down a little more an already "bearish" crypto market.

At this moment I have mixed feelings about it. Feeling sad for those who lost some (or a lot) of money because of this but at the same time a little relieved and hopeful about the future of cryptocurrencies in general for getting rid of one it's most dubious "projects".

Here, I want to address what I (and lots of people before me) think about what was this whole thing was about. As of right now the Bitconnect X ICO is still FULL ON, asking for people's money to open up this "great descentralized exchange", and I know that some will say "nobody is going to give them anything, people ain´t stupid" but this ain't so much about stupidity, it's about ignorance.

Ignorance will make you believe whatever you want, as long as it makes you feel comfortable and safe. Check it out yourself and try to start an arguement with anybody that strongly "believes" something. In 9 out of every 10 cases there isn't one reason, no matter how well founded it is, that's able to convince him/her otherwise because that's "how they feel".

But anyway, we can at least try so here we go:

1. How did Bitconnect actually worked and why did they stopped?
   This is my best guess: You gave them your BTC in exchange for their worthless BCC (at this point, they have your BTC and you have BCC), then you lend them your BCC in exchange for a 40% monthly USD return (now they have your BTC AND YOUR BCC and you have the promise of a "crazy high" monthly income) and then, they took THE VERY SAME BCC YOU GAVE THEM and bought even more BTC from some other investor. Rinse and Repeat

   So with a limited amount of BCC, they would be able to buy an unlimited amount of BTC. But for what exactly?

2. Is there going to be a "descentralized exchange" called Bitconnect X?
   Hell yeah! Or at least I'm pretty sure they will try to open it. Also, I think this was THE plan all along

   A few months ago when I got into this world I had an epiphany: I had to open an exchange. So me and a friend of mine were talking about this seriously, up until the moment we remembered that we didn't have any (real, big, fat) money to go through with this idea.

   But I guess that some people would say "it doesn't matter, I'm gonna make this happen" and look for the way to get funded. So at this point you can be honest to other people and tell them up front "give me some money, this is what I want to do with it" or you can tell people "give me some money and our trading bot will make you rich, leave the technical details to us". That way, you get all the BTC you need (and then some) to open up your own cryptocurrency exchange. Voila!!!

   So basically, Bitconnect was an extended ICO for Bitconnect X. Period

3. Should I invest my money in Bitconnect X anyway?
   NO F***ING WAY!!!

   Don't get me wrong here. I think these people have the "know how", the technology and the resourses (off course) to open up a fully functional exchange in a short matter of time. They will.

   But let me ask you this: Would you really put your money on these people's hands? Would you trust them? Are your coins going to be safe when these people come up with a new project that needs to get funded?