A month after Bitconnect was down, another top lending platform seems to follow the footprints of Bitconnect. I just received a bad news today about Davor coin that they will give-up their lending platform and released all the active loans of the community. Davor significantly crashed down from almost 200 dollars to less than a dollar and this was so frustrating for those who owned Davor coin. Surely, most of our fellow cryptonians will distant themselves from lending platforms due to what happened to these two popular lending platforms - the Bitconnect and now Davor coin.
Below is the message from Davor Team to their community of investors:
We have a very important announcement to make, probably the most important one since our beginning. We have carefully analysed the current situation of the Davor project, of lending programs, of the cryptocurrency market and of legal issues regarding lending platforms and cryptocurrencies in general. There is no doubt for us that the DAV value has been negatively affected by our lending program because the crypto-environment has dramatically changed recently. We did everything possible to protect our platform and our amazing community. However, DAV price still went from $180 to $0.5 in 20 days. As a result, we have decided to change our strategy and to end our lending program that has become the only reason why DavorCoin is decreasing in value. Most users are no longer interested in investing in lending platforms, moreover, they are increasingly concerned about legal issues. And there is one thing we don't want which is to offer a different service to users depending on which countries/states they are coming from. We will release today all lending packages we have and every user will be credited in his account the number of DAV he placed in his/her lending package plus a 10% bonus. The staking pool will work as before. There will be certainly winners and losers in this project, as in many high-risk investments. This is also true for the whole cryptocurrency market. Our main objective now is to bring DAV price where it should be. We are going to put our efforts in transforming DAV into a strong cryptocurrency.
We have many steps ahead that could boost the DAV value.
- High performance crypto-to-crypto trading platform. DAV will be used as trading fee.
- Instant exchange to altcoins: you can exchange instantly DAV to many popular altcoins.
- Partnership with crypto debit card issuers so you can use DAV to make payments.
- Total improvement on the DAV blockchain: to support SegWit, Lightning Network and Atomic Swap, which means DAV could be accepted at thousands of Bitcoin-accepted merchants.
- Crypto shop: You can use DAV to purchase for popular gift cards (eBay, Amazon, iTunes, Steam...)
These are only part of the list: we'll soon release the full list of what we plan to do for the rest of 2018. We know this is a big turning point of Davor, but the crypto-world is changing very fast. Therefore it is important to adapt ourselves to remain competitive. We're confident that this is the right way and we're just at the beginning of a bright future. We hope to receive your full support and altogether we can bring Davor to the next level.
Thank you.
The Davor.io Team
By the way, if you have BCC coin that was stored in the Coinexchange.io, You need to withdraw it and transfer to other Wallet because on March 2018, BCC will be delisted in their site and after that said date, any coins that were not withdrawn will not be recovered anymore.
Sadly, I was telling these people about how all lending platforms are scams, but so many do not listen. I penned a blog the other day about yet another one that is currently in its initial coin offering state, which is Lendex.
My belief is that they will run off with everyone's money, and won't even release a product. Check out my Steemit page if you'd like to read it.
Oh, and just for shits, check out the video of this poor guy who had hope in DavorCoin right before it fell:
Click to Watch:
It's just wouldn't work out before, I know this and i encourage my guys not to go into the System
Your post The World of Cryptocurrency - Davor is Down very very pawaarfull
Your post The World of Cryptocurrency - Davor is Down
Very very important and amazing and pawaarfull and useful for all people
Hey bro good post you have shared to your followers
Really nice post you have shared .
Resteemed and upvoted done
Resteemed and upvoted
Informative post.Much obliged for sharing it
Very sad news.Much obliged for sharing it
I am lucky this time. Because i dont have any davor
First bitconnect & now Davor coin, indeed a painful news for Davor coins holder. Thanks for sharing info you always give insight about cryptos. All the best to cryptonians.
it's very sad news. It hurts too much. Especially troubled to get down the sbd. thanks for sharing essential information.
On the bright side if you just deposited some BTC there you can buy loads of it cheap and start staking . Instead of earnings from lending you would benefit from staking.
Bitconnect was had ponzi written all over it from the beginning but yeah, it must be really painful and difficult for those who lost their money in it.
Crypto is dipping so as your writing on crypto. Hopefully cyrpto will rise. all the best to cryptonians:)
The good news is bitcoin is progressing well. All the best to bitcoin holders:)
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