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RE: Texas state securities serves Bitconnect an emergency cease & desist order
Bitconnect will give cryptocurrency a bad reputation when it crashes.
I said this would happen but people do not want to listen.
And people need to stop promoting it as a get rich quick scheme and show it for it's true colors...a pyramid scheme.
Everything is a pyramid scheme if you get down to brass tacks... Any employer is getting richer than you, giving a little in return, for your exploited work... Show which do you want want to give up for a chance of making some money?
@stayyoung exactly
Am unaware of the subject ... would appreciate links to posts that you might have made.
correct answer.
I don't know why anyone would invest in it. There is a precedent in the courts that says they'd be shut down, and since they're centralized, the could be. I don't think it will crash the whole market though. I think it will help people to realize what cryptocurrency really is for. Now centralization = bad for new investors, which is healthy for the market.
I'm agreement with you
I want your cooperation may be sincere to me, please
Yep, been telling people.
Yes blockchain often does seem "too good to be true" but not like that, bitconnect was just overkill.
Bitconnect was and is a scam. Most people knew that and yet, people with low morals keep sending those lambs to the slaughterhouse .... Invest what you are prepared to loose they said ... Lets hope it ends quickly.
On a side note... Steem seems to good to be true to me right now!! I got in at 1.6 and thought I had made a mistake. Now its atleast 4X. SBD that I earn is worth 9 times its stated value. Right now I am trying to find an under-valued currency and bitshares feels to be it !
Oh the look !! ......................... ;) :P
brother can we rely on bitshares ?
Bitshares is a functional decentralized exchange. It also has many other functionalities like user issued assets with collateral held securely in blockchain. The source code for bitshares is publicly available.
What does bitconnect have ? An imaginary trading bot !!
Give me this bot's source code and historical data about all the trades it engaged in and profits made ?
thank you for providing useful information.
Who will use the opportunity to
you make more money on steemit that you would ever make on bitconnect @acidyo
No bad reputation at all,instead people will now understand what real blockchain and crypto is!!
This is a way of weeding out the bad guys from our awesome crypto community....
We just have to give platforms like Steem, Bitcoin, and Cardano (ADA) more positive attention than we do Bitconnect and other fraud like platforms.
Wishing this didn't happen right now. It won't encourage potential investors. Those who did not listen would then want to be preachers against crypto when they are basically receiving the consequence of their disobedience.
Lets be honest, majority of the money invested in crypto is from whales. So media shocks everyone that someone scammed somebody (again) and all the whales sell their position, the little fishy losses their shirt and whales come back in and buy low pushing the price back up.
The ignorant will fail, the intelligent will prevail
Thats exactly what I was thinking while reading this
you made me smarter by osmosis
Like your last sentence ;-)
it started to crash because they are running out of funds to pay their old members so they started another ico as BCCX.
They will never run out of funds as they control the currency they are paying out in due to a massive premine. This is not a simple ponzi, its far more complex than tat!
It will crash and with it will take the whole market down to lower levels. Levels that were reached even more than a year ago!
I have heard a lot of bad things about Bitconnect. I stayed away from it but was surprised to see it remain at the top ranks on coinmarketcap.com I hope it does not impact the entire crypto market cap as a whole. It would be a shame to see the 2017 bull run come to a slow down.
Money is key to all development and degradation
You are right.
why wouldn't it just be ignored like Mtgox??
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