Absolutely an amazing amount of interest in your article. I read the whole thing, and half of the 218 comments before relying. If it is a scam, then the investors should have been more cautious. There is no where in the United States to complain to. The SEC? why it is a foreign company, are they listed on the stock exchange? If an investor were to invest in a bank in Vietnam, and that bank went bust that investor lost his money, no one in the US is going to care he lost $5,000 in a Vietnam Bank that went broke. If Bit-Connect goes belly up, who in the US government is going to really care or do anything to get American investors money back? No one. The investors are investing in a foreign company. Investor beware. Know where you are investing, and who you are investing with.
RE: The ShitConnect Ponzi Train Can't Be Stopped (The Ugly Truth Inside)
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The ShitConnect Ponzi Train Can't Be Stopped (The Ugly Truth Inside)
It is a popular topic for sure and people have a lot of thoughts on it. Shitconnect has become more and more of a fixture in this years crypto boom.
I think it will just disappear and no one will know what happened in the end but let's just say some US entity is watching and feels they need to take action for some reason or another. The domain seems to be protected by Domains By Proxy which is owned by Godaddy which is a United States company. The website might also be hosted there.
Other situations where regulator in the US some how were able to bag up foreign individuals. The Kim Dot Com thing where they raided his house with assault rifles in New Zealand. The was lead by the United States and traced back to supposed piracy of music and movies.
The BTC-e situation that happened where the United States bagged up the guy in Greece and then seized the domain name. Bow they are running again on a different domain.
The one guy in Tailand who was a Canadian that they bagged up because he was running an online drug website. I think once again it was the US authorities again with that one.
It always seems like the US authorities are always playing world police and in these situations where I'm surprised they are over in some other country trying to take guys down they are supposedly there.
So I guess it isn't impossible for them to try to go after the guys running it.
I'm not really sure but I feel like it is unlikely unless it gets as big as Bitcoin which is completely possible the way things have been going.
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Or a politician gets taken for a ride, Yeah, US, World Police, now world bank police. Soon one day some country is going to say no to the US, we need to have Trump say no to the UN.
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Yeah I almost feel like it will be a group of countries that will say no but they can't get along with each other either so it is going to be tough.
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What they should be worried about in bitconnect is that they are being paid in USD which Fiat is controlled by the US Government, hopefully they are reporting their earnings because under current law they would be evading taxes. Transacting constantly with USD is a rookie move in the crypto space.
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