$ (BCC) BitConnect

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Tranhuviya said:
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Well, his wife's sons are going to be bery disappoint, that's what.
 
A bit more information on why BitConnect is tanking:

The company behind the controversial cryptocurrency BitConnect has announced that it will close down its lending and exchange platform.

BitConnect’s lending service will be shuttered, effectively immediately, while its exchange platform will close in 5 days, according to a post on its website published Tuesday.

“In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes,” the post explained.

The announcement blames a myriad of factors, perhaps most notably the cease-and-desist letters issued in recent days from regulators in Texas and North Carolina.

Both letters stated that BitConnect was engaging in the sale of unregistered securities tied to a token sale.

“We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division,” the BitConnect team wrote. “These actions have become a hindrance for the legal continuation of the platform.”

The post also blamed “bad press” that has “made community members uneasy and created a lack of confidence in the platform.”

BitConnect has been accused of constituting a Ponzi scheme, and several figures in the space, including the founder of ethereum, Vitalik Buterin, have levied criticisms against it in recent months.

The BitConnect team also blamed a string of dedicated denial-of-service attacks (DDoS).

Since as early as Jan. 13, BitConnect’s Twitter account has blamed DDoS attacks for problems with its website.

Yet despite the cease-and-desist letters, BitConnect said that its in-progress initial coin offering (ICO) will continue, and that it is building an alternative exchange for the BitConnect token.

“This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency [sic] services in the future,” the team wrote.
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Van Darkholme said:
Their fault for placing their money into invisible internet money.
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To all the smug shiteaters who think one scam means the entire thing concept is poisoned, I'd like to remind all of you we are only here thanks to cryptocurrencies. If not for crypto support the site would be dead as fuck.

This shitshow is super funny even if it's giving the biggest speds on this site a massive confirmation bias.

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Skeealator said:
Since very few of the normie financial institutions were dumb enough to buy into the cryptoshitshow, it likely won't affect the broader economy. These same people will fall for beanie babies or tulips or Herbalife or the next fad.
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holy fuck I'm unfeaturing this thread because people are too dumb to get it. this isn't bitcoin, this is one ugly gook's scam.

site's fucking dumb.
 
what the fuck :story:

so you're telling me, the tl;dr is that a bunch of retarded bandwagon hoppers who didn't know about the past Big Bitcoin Bubble pops bought in at the top of a bubble and are now panicking because it crashed? Even though I guaran-fucking-tee you it will be back to $20K or some unreasonable amount per coin in like, a year?

edit: nope it's even fucking dumber it's one cunt's bitcoin flavoured startup people bought into jesus christ it's anuddah mount gox
 
Miss Walsh said:
These people could have spent all that money to set up their own business, but they were lazy and spent it all on a videogame instead.
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If they were smart, they could have literally used the investment they put forward to make a business and start it. But no, like any other scam of this scale-- They placed their money on one "forward thinking" investment that was supposed to make the money for them while they sat on their asses.

I would toppest of keks at this, but people are actually committing suicide over this.
 
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