I heard one person commited suicide over bitconnect. It was expeced, always when ponzi scams fall apart, many lives will be ruined.
RE: Bitconnect lending meltdown
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Bitconnect lending meltdown
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That's horrible and I'm sadden to hear that. In the world of finance as a whole, many "experts" forget the human aspect of money.
I'm not associated with bitconnect at all. Like many others, I was participating in the lending program when it unexpectedly was shut down. I don't personally believe it was specifically intended to be a Ponzi scheme, but I do agree it had aspects of it.
Since then, I'm seen a big buzz on other lending platforms similar to bitconnect, to which I personally am avoiding. This post was simply to vent anger at bitconnect after my losses with it.
From here on out, I am going to be sharing my journey through Bitcoin and other altcoins
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It is absolutely intended to be a ponzi scheme... What their business model promises is impossible to achieve for a multi-year period. They're paying old investors with money from new investors. They're not actually making any money.
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Perhaps. At this point I'm just curious to see what they're going to do with what's left of the company. I'm curious to see if they'll try rebranding
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