As you know, the BitConnect scam has finally collapsed. This is what I imagine the smartphones of BitConnect Holders look like:
C'mon people, don't invest your money is scamcoins. Do your research. Don't trust people like Craig Grant or Trevon James. Take the time necessary to form your own opinions. I knew BitConnect was a scam just from reading a bit on Steemit. Most smart people stayed away. Follow smart people if you must follow anyone. But it's best to follow your own gut instincts.
Cheers
Stella
The part that I find really obscene is how some people KNEW it was a scam, but invested anyways thinking they can cash out before everyone else and avoid the collapse. LOOL! That is pure genius logic!
it is greed that eats the brain, but eventually everyone has to learn that lesson once
And even more obscene is those YouTubers, yeah, i'm calling you out Craig Grant and Trevon James and CryptoNick.......they had to have known it was a scam, and yet their greed led innocent noobs into destruction. This is the real lesson of BCC....people who promote stuff don't care about you. Listen to those who are quietly intelligent, and who don't want to persuade others. Those are the smart people.
Yes, this is what truly disgusts me and even if bcc came to an end they still have another business model: clound mining ref links.
I just hope that their community has learned their lesson from it.
this is why i am so happy Steemit decided not to do referral links. They are the bane of the internet.
These scams affect the other cryptos & demotivates the new investers , Finally shitconnect is over.
It's completely incomprehensible to me that Bitconnect still has a market capitalization of nearly $ 400 million. A company without a business and without a serious business concept is valued at 400 million, you have to imagine that. That is one third of Steem's market capitalization.
lol
Thanks @steelabelle
Thank God I never invested in that coin, by now i will be counting my loses
People who lost big here can’t say that they weren’t warned. Repeatedly.
thanks for your post
You're so nice for commenting on this post. For that, I gave you a vote!
Ponzis are so convincing to many because people do profit from them. To them, that's the proof that it's not a scam. And yeah, they work, until one day they don't. It's like the column of ash and smoke from an erupting volcano. It supports itself and continues reaching to the sky so long as the eruption from the volcano continues supplying more ash and smoke to keep it up. And hey, as long as it stays up there, everything looks like it's gonna be okay. But when the eruption is complete, the fuel keeping up that column disappears and the whole thing comes crashing down, taking out everything around it as it falls and spreads... like Pompeii.
Anyone remembers the most vocal, who were warning against this scam?
If so, please list them
finally the time has come. I warned everyone I could but many wouldn't listen.
your animation brings it to the point; sometimes you need to get your hands burned.
Nothing like being burned to make you question your own decisions next time round. Unfortunately greed is overshadowing common sense.
It indeed does. My only concern is now that the bcc scam will be blown up by the news and might confuse newcommers. I hope we wont feel any heat from that explosion..
Lol😊😊
Saw it Too
Warned people to stay away. Greed was more powerful. Yep.
Some might have learned from it a valuable lesson, with 2018 being such a perspective year many have a second chance anyways :-)
A few yes. lol Here's hoping they remember it well. :D
It's unfortunate when this stuff happens but it is inevitable when so many people are making money. There will always get rich quick schemes and crypto is no different.
I remember when online poker was booming here in the US and Full Tilt ended up being a Ponzi-scheme. It ran a legit business but when the DOJ halted all deposits, Full Tilt had no cash flow to cover all the withdraws that were taking place. Looks like Bitconnect suffered the same fate and unfortunately many others are now suffering major losses.
It will be hard to determine if any of these a-holes will face justice since this is all new and unregulated, but the founders of Full Tilt did have to pay major fines and some are still even wanted men here in the US. It'll be interesting to see how this plays out.
What alt-coin do you think will be next to go/is the next scam to be brought down?
Lol... I've laughed so hard
Pardon my insensitivity, but I don't just understand why people are easily coerced to buy scam coins (to use the word shit coins is subtle enough).
Before you invest in any coin or crypto, read!, do your research, sample online opinions, read the white paper, know the utility of the coin and its usability etc.
If you don't do that, you're gonna get REKT.
Don't fall for get rich schemes and always use your head.
Remember this golden rule: If it's too good to be true then it's probably not true
Thanks @stellabelle for this incisive post. It came at the right time.
Happy Steeming
You are among like maybe 30% of the human population, because you read. Anyone with half a brain would have stayed away. Greed, however, tends to taint the human brain. It causes people to make hasty decisions. I would guess if one is poor, and the option to make easy money presented itself, and one is very desperate, then BitConnect would seem like an easy choice. However, as you pointed out, a bit of reading would indicate that it's a scam.
The main lesson people need to learn is this: Find your purpose and then find a coin that aligns with that. Do the hard work, be consistent and work towards a goal. There's no easy way to earn money, anywhere.....one must do work that is meaningful before rewards are gained.
FULL upvote for me !!!!! miaw
Unfortunately many people don't care about the possible purpose. Anything that is valuable has a purpose. You wouldn't pay for a car, gold, pizza, art or a bus ticket, if they had no purpose for you. Why would anyone invest in something they don't understand?
BitConnect coins are now almost in the way of destruction. It will take a lot of time to return to its previous price. If its users and transactions are over, So soon BitConnect will return to the previous position. Those who had stored the coins had a lot of damage. Hope this coin will return to the previous position.
Thank you!
what the actual fuck? Are you high? Bitconnect is a scam. It's over. It's going to Zero.
I did not know. Sorry for not knowing.
did you even read the blog under which you have been commenting? gosh..
shitcoin is down! We knew this is going to happen, The day has at long last come! Presently, I ponder what's the following trick going to resemble
I saw Turcoin in the news. I did research. Do not trust this. Fraudsters, like BitConnec owners. Years ago he cheated many people in Turkey.
consider writing an indepth post about it if you feel it's a scam. you could help others see the truth.
Now I have exams, but I will write an article as soon as possible.
You should not have raised it then....I am gonna read and write about it straightaway....hahaha
Definitely I agree with you. my opinion is the right choice steem. I do not really trust it except steem. I am not afraid of the current decline. on the contrary I am happy. I know that you will rise up. because I trust myself and steem. @stellabelle
Good post @stellabella, thanks
@racoo
Thanx stella for your post.. Nice suggestion that we follow the wise ppl.. Scam scam and scam everywhere i am fed up.. God bless all of us
I know a guy who got in early and had very little left in there as of Christmas. Smart and a Shark....definitely not my style though.
the big scam is over!
I just made 600% with BCC in four hours. What are you talking about?
I don't know what you're smoking but BCC is now heading towards $0 on Coinmarketcap. Come on.
This is now
This was this morning:
https://steemit.com/bitconnect/@melip/bitconnect-just-trippled-in-price-since-last-night-ct-what-s-going-on
Last night was below $4.00. Beliefs keep poverty going. Think above the thinkers 😊
Other lending platforms will suffer the same fate as Bitconnect.
Here is my reasoning:
DOWNFALL OF ALL LENDING PLATFORMS HAS BEGUN
good ever that is about bitcoin
thanks for sharing this
Hehe, shitcoin is down! We knew this is gonna happen, lol... The day has finally come! Now, I wonder what's the next scam gonna be like :O
you feel their feelings .
Thanks for your informative and valuable post.
I will wait for your next post.
Resteem done.
And thank God it's over. It's going to be good for crypto in the long-term, but hurt it in the short-term. Because anyone who is thinking about investing right now is going to hear about some kind of Bitcoin scam and not know all the details. Oh well, this is what happens when building a new Financial system!
Yes bitcoin is collapsed.
whatever
Had friends loose big on bitconnect, sadly I warned them
My creed remains: Never invest an amount you can't afford to lose on cryptocurrencies.
I do not think like you will rise again.Every descent has an exit.
So true, and I love the image! I was always wary of bitconnect, and I'm certainly glad.
Thanks for share..
I feel that it took the whole market along with it. It was weird timing that the alt markets crashed so hard.
the alt market is driven by btc, surely not by bcc.
btc is still the crypto flagship, it drives the entire market and is still the gate when it comes towards entering the alt-world. maybe during this year with more and more actual products launching this dependency might losen a bit
The returns don't add up, which anyone with basic math skills can easily understand. $100 turning into how much in two years Rich? Yeah... That's legit. Your BTC gets loaned to who and for what? It's a Ponzi. And please stop with the BCC coin. Why can't I trade it off their platform? C'mon man. Way too many people covered this one already.
You are on point @stellabelle. Folks were at a point saying all sort of things about it. It is more clearer now than ever. Following smart people pays..
I am sure this won't be the last scam to hit the cryptospace. We each need to do our due diligence before investing. This one seemed to be an easy one to spot! Stay vigilante!
Hii Madam @stellabelle, Thanks for updating and guiding.
You are right. everything is clear in graph.
some time ago I heard that bitconnect was scam and although that is normal in the world of cryptocurrencies, I looked for some information and I do not trust it ....
if we add the scam with the descent of cryptocurrencies ... imagine how your investors are doing it.
Thank you for the guide. I wonder why some of our people are so gullible,they follow everything without understanding it to the fullness.
Can't stop laughing 😁
Wow thank god I have never heard of bit connect, I don't want my iPhone to burst into flames!! lol
I lost a little with getting involved with bitconnect.
Just to share a different perspective, all of us didn't invest in the platform based on greed. I was unemployed for over a year living in Los Angeles when a friend who was also unemployed introduced me to bitconnect because it was keeping his rent paid. I've always been into technology and started studying and researching cryptocurrency and blockchain technology. I was well aware of the risk with bitconnect and figured I would get out before in went belly up, as most high yield investment opportunities do... so I stopped reinvesting and started investing in altcoins and platforms that I believe in. That's why I'm on Steemit, this is a great platform with a community of forward thinking people.
It's important to trust just a few, already well-acknowledged people. Do your research to prevent from this happening to you...
How do u identify coins that are scams.. Pls ..
You read a lot. You read the whitepaper. You read anything that has the word of your coin and 'scam' in it. You use common sense.
First you find out who is running the project. Find out the street address of the company, or people. If the people running it don't put out an address, that's a sign of a scam.
Thank you sir for your post
Currently I'm a member of bitconnect but not invested anything
Please do not call me 'sir'. I am a woman, not a man.
I am So sorry! Madam /friend which one is best.
This Sir thing is really rampant! She's a WOMAN obviously!!
Oh really @kaykunoichi , then
I wrote down a name, can you guess it man 🚹 or woman 🚺 ?
(Taslim khatun)
I guess Bitconnect was a ponzi scheme. I thought it's a legit coin because there were so many promotions. Sites like Coinmarketcap have banners and they are alluring.
Thankfully I've not invested in Bitconnect.
I think it has created a myth in the market place that any coin can disappear from the market place and that could be the reason everyone selling cryptocurrencies.
I hope it ends soon. How much you had on Bitconnect @Stellabelle?
Hahaha. We can't all be smart you know? I follow my mind all the time and it never led me to bitconnect. Haha
Not sure why some people have so much greediness in their souls. Why we give so much importance to wealth and deceiving innocent people by stealing money from their pockets?
Wealth, wealth and wealth! That's what I hear everywhere, earn it no matter how many people's lives you have to crush!
yeah, it's gross....but on the other hand, so many desperate people exist who don't know what to do. Most of the world's population is feeling like on the edge, so I think this is why people did it....i am overly suspicious, so I stayed away....