Bitconnect Scam: The 2 6 BN Ponzi Scheme 2019 Update
r/Bitcoin – What do you think about bitconnect? – reddit
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So, you invest some money into BitConnect, and then you get paid back a small portion of that money every day. Now this is a new era of strange things, some are good, some are bad. BitConnect is an investment opportunity for crytocurrency enthusiasts to purchase a new altcoin, the”BitConnect Coin” (BCC). Many fell for the scheme and regretted bitterly when they lost money. Prior to the decision, discussion on the BitConnect Reddit raised the prospect of admins being held legally accountable for promotion of a Ponzi scheme. Introduction With the ever-increasing technological advancements in the cryptocurrency space, a parallel world seems to be running for the illicit activities by exploiting the anonymity provided by the application of cryptocurrencies. It delivers weird bits of information in broken English, and it fails utterly to make its case clear for someone visiting the site for the first time. The blockchain community’s foremost members, including Vitalik Buterin, have accused BitConnect of being a Ponzi scheme designed to defraud investors. Bitconnect attracted hundreds and thousands of investors through a cryptocurrency token, a lending platform, and high risk-free returns. If you are searching for the BitConnect reviews so that you can find out what is Bit Connect in real, either is BitConnect.co scam or legit, then your search ends here. It takes months for official actions to take place. A fake BitConnect support account is pretending to “help” people withdraw in order to steal their money as they try to …. The price of BitConnect over the past year. Bitconnect is every bit as much a scam today as it was the day it launched. It is currently trading at $134 and its unique value proposition is. Since the beginning it was suspected by the crypto community of being a Ponzi scheme.
After a certain period of time, you would have supposedly earned your capital investment back, plus interest. That’s. I would like to show them how exactly BitConnect works and save them and other users some money, and to also point out how to generally detect a scam. There is not a single shadow of a doubt that the Bitconnect app is a Ponzi scheme. BitConnect: A cryptocurrency that became famous only for developing a major Ponzi scheme that valued the coin (BCC)for a market cap of $2.5 billion in the peak of December 2017. They have officially shut down their lending program and the price of BitConnect …. To summarize, the system worked by promising people that they could deposit Bitcoin and lend it out through some sort of automated process. This week saw an interesting development when Youtube was added as a defendant in the class action lawsuit against Bitconnect. Some have been declaring it the next best investment platform, but a far larger and ever-growing majority seems convinced that it is a scam of the Ponzi scheme or HYIP variety. Check out this guy’s video on some of the big Bitconnect players, and the legal aspects that are ongoing. The conversation around Bitconnect seems to claim it’s either a scam, or the best thing since sliced bread. BitConnect is a multi-level marketing program (scam / ponzi scheme / pyramid scheme, call it what you will) which basically offers “payouts” to those who invest in it. After carefully exploring Bitconnect.co, in addition to user reviews, we’ve discovered several factors that makes Bitconnect a possible scam. Find out by reading our review today! Those who got into the scheme early and sold out before the end of 2017 could have made gains of more than 100 times or more their initial investments. Okay so let’s get on with this BitConnect Review… So there’s quite a bit of buzz about this company at the moment and chances are you’ve been contacted, probably by email, about the opportunity. Chances are someone approached you about the business opportunity and now you landed here to make sure it’s legit…. BitConnect promises “daily profit” ROI of up to 40% a …. I’ve been taking a closer look at this new ICO from BitConnect called “BitConnect X” to find out the truth after already giving my honest opinion and review of BitConnect a few months back.
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I mean, I know a lot of people called it a scam, but I’m having a hard time understanding exactly how it worked. Was it a scam because a lot of youtubers promoted something that was clearly not on the level, or …. In just over a year, the ‘project’ managed to propel itself from an obscure ICO to a crypto project valued at a staggering $2.6 billion. This article and its comment section just convinced me that this is unfortunately a scam. Is this 800 million dollar cryptocurrency a ponzi scheme. David Hay starts his review of BitConnect by offering a $1000 bounty to anyone that can prove that the trading bot is doing what it says its doing. Bitconnect X BCCX Coin Scam Conclusion BitConnect Coin, or BCC, hit a high of $460 USD on December 30, 2017. On January 1, the company issued a press release stating that it would launch a new cryptocurrency called BitconnectX. For those of you that don’t know, BitConnect is a cryptocurrency. Bitconnect.co. The website itself is quite unimpressive. Get BitConnect reviews, rating, sentiment score and other cryptocurrency info. Research the BitConnect project, team and whitepaper so that you can determine if BitConnect is a scam. There’s been little sympathy from the cryptocurrency community after the closure of controversial exchange and lending platform Bitconnect. There has been some buzz about this company so I decided to check it out for myself. Here’s how it pulled it off. More experts are coming forward with concerns about the platform. 99Bitcoins recently did an excellent, in-depth review of where BitConnect gets its funds and why people think it’s a scam. What Is Bitconnect? BitConnect is a type of trading software that has launched what’s called an ICO, which means Initial Coin Offering. Websites online were able to make a few important updates and summaries on the latest news regarding BitConnect, which is arguably cryptocurrencies’ biggest scam to date. Argiro vs BitConnect International PLC et al. The man accused of leading the Bitconnect cryptocurrency pyramid scheme in India was arrested this weekend at an airport in New Delhi, Financial Express reports. And for the record Bitconnect is not doing an “exit scam,” it’s a scam making an exit and there is a difference. “It’s paying me” is not and never will be proof something isn’t a scam. What is BitConnect.co? Is Bit Connect a Scam or a Legit. We are going to reveal here the real side of the BitConnect. Actually, it is a Ponzi-Pyramid hybrid which means it is an illegal and unsustainable company. Users are able to generate BCC through the process of mining. BitConnect has a current supply of 10,866,429 BCC with. The company proposed its value, which was that the users would receive up to 10% return on their investment each month. Well it turned out it really was and they ran off with almost a billion dollars of investor’s money. They preyed on small-time investors for affiliate dollars. Our objective was to see whether the new digital currency can be considered important or is only a trick intended to take your cash.