DonateMost active topics
Latest topics
Bitconnect Market Cap Collapse: A Sign of Ponzi Scheme Falling Apart?
Page 1 of 1 • Share
Bitconnect Market Cap Collapse: A Sign of Ponzi Scheme Falling Apart?
by Vladdirescu Thu Nov 09, 2017 7:49 pm
Bitconnect is suspected of being a hybrid of a pyramid and a Ponzi-scheme
Bitconnect was founded in 2016 as a very promising project with its own cryptocurrency BCC. However, since November 1, the company’s market capitalization suddenly collapsed from $2 billion to $0.5 billion. In a Twitter post, Vitalik Buterin, the founder of Ethereum called the project a Ponzi scheme. If we look closer, his statement seems to have all chances of being truth. Is Bitconnect indeed nothing more than a pyramid and a Ponzi scheme?
The Bitconnect homepage states:
"Bitconnect is an open source, peer-to-peer, community-driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment. This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network".
https://coinidol.com/bitconnect-market-cap-collapse-sign-of-ponzi-scheme-falling-apart/
Bitconnect was founded in 2016 as a very promising project with its own cryptocurrency BCC. However, since November 1, the company’s market capitalization suddenly collapsed from $2 billion to $0.5 billion. In a Twitter post, Vitalik Buterin, the founder of Ethereum called the project a Ponzi scheme. If we look closer, his statement seems to have all chances of being truth. Is Bitconnect indeed nothing more than a pyramid and a Ponzi scheme?
The Bitconnect homepage states:
"Bitconnect is an open source, peer-to-peer, community-driven decentralized cryptocurrency that allow people to store and invest their wealth in a non-government controlled currency, and even earn a substantial interest on investment. This means anyone holding BitConnect Coin in their wallet will receive interest on their balance in return for helping maintain security of the network".
https://coinidol.com/bitconnect-market-cap-collapse-sign-of-ponzi-scheme-falling-apart/
Vladdirescu- Posts : 721
Reputation : 1
Join date : 2017-04-21
Similar topics» Moirai Prediction Market to Become One of the First Regulated ICOs
» Kraken Set to Quit the Japanese Cryptocurrency Market
» Crypto Capitalization Below $250B: Why Are We Falling?
» Blockchain is Conquering Global Stock Image Market
» Blockchain Market to reach $5.4 Billion soon !
» Kraken Set to Quit the Japanese Cryptocurrency Market
» Crypto Capitalization Below $250B: Why Are We Falling?
» Blockchain is Conquering Global Stock Image Market
» Blockchain Market to reach $5.4 Billion soon !
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Smart Valor — The Future of Global Investments
» Jur — Resolving Legal Disputes with the Help of Smart Contracts
» CDRX — Blockchain Technology in the Traditional Securities Market
» NoahCoin as a Key to Borderless Facilities of Noah Project
» Iconiq Lab — New ICO Accelerator and Decentralized Investment Fund
» Raincheck — Global Bonus System and Loyalty Program on the Stellar Blockchain
» Clintex (Clinical Trials Intelligence) — Alternative Treatment of the Future
» Mobu ICO— The Future of Security Tokenization
» Codex Protocol — Blockchain-based Title Registry of Art and Collectibles
» INGOT Coin Develops An All-Inclusive Ecosystem to Bridge Markets, Revives Lost Demand
» Japan Has Announced New Five-Point Regulations for Cryptocurrency Exchanges
» Trivver — Blockchain-Based Extended Reality Ad Exchange
» OEL Foundation — Unified Logistics Blockchain Infrastructure
» Quadrant Protocol — Data Ecosystem With Authenticity And Provenance
» Pumapay Brings Crypto Payments into Daily Life, Raises $117 mln in Private Token Sale
» FlipNpik — Social Media for Local and Small Businesses based on XLM
» Japanese Bank MUFG Is Planning to Issue a Trial of Its Own Digital Currency
» Blockchain Enters Poland’s Financial Market, Namely the Credit Office
» HSBC Claims it Performed the World’s First Trade Transaction via Blockchain