Bitconnect reddit. The live BitConnect price today is $0 USD with a 24-hour trading volume of $0 USD. In a last, half retarded, hail mary attempt, he's going to try to flip his position and talk good things about it, hoping desperately he can influence someone It's bad for the crypto community because when Bitconnect does blow up, it'll drag the Bitcoin brand with it and make the entire crypto space look bad. The platform introduced itself in 2016 as an open-source cryptocurrency and high-yield investment program. S. Idiots bought this story up. com. There's been plenty of Bitconnect references here, Reddit probably doesn't pick up on them because they're all spelled BEECCOONNNEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEECCC!!! tldr; The SEC has reached a settlement with three Bitconnect promoters for over $12 million in Bitcoin and fiat currency. law enforcement authorities will start liquidating roughly $57 million worth of cryptocurrency seized from the now-defunct BitConnect crypto exchange to provide some restitution to defrauded Here's what happened, he realized by shitting on Bitconnect, that he's helping guarantee the coin will never recover and he'll never sell it for anything (everyone who got scammed was handed a bunch of worthless bitconnect tokens). I bring these matters to light and to the attention of the Reddit Summoners War community because of KnightlyGaming's renewed involvement in this game, the recent crash of BitConnect, and to provide an update on the initial warning made two months prior on r/summonerswar. Here's how it pulled it off. It highlights the risks involved with investing in unregulated platforms and underscores t 17 votes, 21 comments. Follow the rules of The Bitconnectcoin Community No the old site was bitconnect. Despite this, he's a very positive guy and still trying to succeed. More experts are coming forward with concerns about the platform. [2][3][4] After the platform administrators closed the earning platform on January 16, 2018, and refunded the users' investments in BCC following a 92% coin value crash, confidence was Jan 17, 2018 · In what appears to be an attempt to cover their tracks, admins of the popular BitConnect Reddit have set the discussion forum to private. There’s been little sympathy from the cryptocurrency community after the closure of controversial exchange and lending platform Bitconnect. BitConnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3. What likely happened is bitconnect's lending platform became insolvent due to rapid drops in bitconnect coins price. Joshua Jeppesen, Michael Noble, and Laura Mascola will collectively pay over $3. It just shows how deep people can be in a bubble. 5 million and 190 Bitcoin in disgorgement and prejudgment interest. BitConnect was ultimately shut down because the platform turned out to be a Ponzi scheme and thus wasn’t able to repay its investors. Bitconnect has retained "crypto-meme status" throughout the years. " The Bitconnect Coin reached a market cap of over 2 Billion dollars during the crypto bull run of 2017/2018, and the blockchain still functions despite development being discontinued and abandoned by the former BCC Bitconnect (stylized bitconnect and also spelled BitConnect, ticker code BCC) was an open-source cryptocurrency from 2016 to 2018 that was connected with a high-yield investment program, a type of Ponzi scheme. true I too fell for a scam, Confido. Has anyone ever lost money "investing" in Bitconnect. I get that money is money, but having an ad on such a important piece of the crypto websphere will do serious damage to crypto's reputation as a whole. However, soon after that news the internal exchange price and liquidity collapsed resulting in a nearly complete loss of value. But if you are new or aren't so familiar with the story please go over to the bitconnect sub and read some of the old Post. The BitConnect scheme is the largest cryptocurrency fraud scheme ever charged criminally. The very first post on Bitconnect's G+ profile is the announcement of a Bitconnect Seminar in the Philippines, they say that it was organised by Bitconnect promoter, Rolando Anosa. No one has ever lost money investing in Bitconnect. If it were shown that any of these youtube shillary clintons were conspiring with the creators of bitconnect, then it might be a different story. Bitconnect is one of the more controversial projects within the cryptocurrency ecosystem and despite briefly breaking into the CoinCodex top ten it continues to divide opinion. A federal grand jury in San Diego returned an indictment today charging the founder of BitConnect with orchestrating a global Ponzi scheme. Reply reply [deleted] • it bounced to 80 cents couple of days ago though Reply reply More replies [deleted] • Comment removed by moderator Reply reply mlk960 • If you're unfamiliar, Carlos Matos was actually a victim of BitConnect and lost everything he gained after it crashed. The answer is no. " Investing $1,000 into bitconnect would theoretically lead to $50 million in returns within a period of three years if they followed through with the rates they were offering and people still thought that it was not a scam? Bitconnect released outstanding loans at a rate of US$363. 4 billion. As above, most of the content in the Reddit was in relation to BitConnect’s collapse. ” - Based on Bitconnextx website. After a similar announcement it lost 80-90% of its value in a matter of minutes. This is the main Reddit thread for the timeline, history, and recap of Bitconnect - please join and contribute Bitconnect has retained "crypto-meme status" throughout the years. A federal grand jury in San Diego indicted the founder of BitConnect for allegedly orchestrating a $2. He made over 900K in affiliate earnings from promoting various Ponzi coins like Bitconnect. If the price of their coin drops too much. We need to communicate with them as a community, this is not acceptable. 4 billion global Ponzi scheme, the Justice Department said Friday. 63 votes, 80 comments. We will not tolerate innocent people being scammed. Prior to the decision, discussion on the BitConnect Reddit raised the prospect of admins being held legally accountable for promotion of a Ponzi scheme. With entry of the court’s interlocutory sale order, the government will begin the process of seeking to make whole victims of the BitConnect scheme by selling the cryptocurrency and holding the proceeds in U. Justice Department will sell off $56 million worth of cryptocurrency it seized as part of a massive Ponzi scheme case against a man who promoted the crypto lending program BitConnect. Investors have filed a class action complaint against BitConnect one week after its shutdown, seeking compensation. U. If you're unfamiliar, Carlos Matos was actually a victim of BitConnect and lost everything he gained after it crashed. Bitconnect still being advertised on coinmarketcap. Mar 26, 2020 · What Was BitConnect? BitConnect was launched in 2016 as a cryptocurrency investment platform that introduced its own token called Bit Connect Coin (BCC). Biconnect is OUT! BitConnect is shutting down its lending and exchange platform 1 comment New Add a Comment ufocrossing • 8 yr. Hoping everyone received or will receive soon your long awaited dues. 62 to the Bitconnect Wallet in form of BCC. After failing to respond to an SEC lawsuit filed against him, Trevon James has asked a court to set aside a recorded entry of default. Its basically impossible because you deal with slippage if you scalp with big accounts, at least not to the degree of profits they suggest. dollars. TIL That Carlos Matos (The Bitconnect guy) is still active on YouTube and just brought himself a new Tesla. The U. In short Bitconnect was an anonymously-run site where users could loan their cryptocurrency to the company in exchange for outsized returns depending on how long the loan was for. 23 votes, 80 comments. Time goed by so fast, I wanted to look back at THE biggest exit/rugpull in the history of our industry I think 80% of us can already hear a… Heyyy HEYYYYYYYYYYYYYYY Welcome to the only remaining true Bitconnect BCC subreddit. This thread is archived New comments cannot be posted and votes cannot be cast comments Best 1. How did this guy escape jail time?? “BitConnect X (BCCX) is an open source, blockchain based, decentralized cryptocurrency that enables instant payments to anyone with minimum transaction fees. The new suit combines all the lawsuits previously filed against the now-defunct pyramid scheme. BitConnect était une obscure plateforme qui promettait l'impossible : une rente fixe grâce aux crypto-monnaies. We update our BCC to USD price in real-time. I sold on the bounce to cut my losses and it proceeded to go to near 0 in the next days. Then the available Bitconnect coins they owe to lenders is more then the available supply in their main wallet. The story of BitConnect serves as a cautionary tale for investors in the crypto and blockchain industries. Many crypto newcomers arrive in the coin world asking what Bitconnect was, so I have created a "living timeline. The business model outlined by the company is economically unsustainable with the current level of returns unable to be validated by any legally known investment system. 4. Why is everyone complaining they lost everything??? I wondered who got scammed by bitconnect, makes sense though as you had previously been commenting on r/aliens about the link between God and Alien bones found on Earth. What conditions would be necessary to lose money investing in Bitconnect? There is only one answer to this question. District Court for the Southern District of Florida against BitConnect. A federal district court in San Diego ordered today that over $17 million in restitution be distributed to approximately 800 victims from over 40 different countries due to their investment losses in BitConnect, a massive cryptocurrency investment scheme, which defrauded thousands of investors worldwide. 99Bitcoins recently did an excellent, in-depth review of where BitConnect gets its funds and why people think it’s a scam. 50 days ago, 50% loss, bad but not the worst thing in the world. The amount granted by the judge was basically all I put into bitconnect minus my attorney fees. Although what initially appeared to be a groundbreaking financial opportunity turned out to be one of the largest Ponzi schemes in crypto history. 8M subscribers in the CryptoCurrency community. The new class action Carlos Matos Bitconnect meme KING is back with Clash of Streamers, the next big NFT P2E game - interview clips compilation from today's interview with Athene This thread is archived Bitconnect paid out 1% a day in interest, so if someone invested more than 100 days ago, they should be net positive. Mainstream media outlets are going to run a bunch of articles and reports with the words "Bitcoin", "Scam" and "Pyramid Scheme" in the headlines. Let that sink in. The leading community for cryptocurrency news, discussion, and analysis. 1. 7. Reddit threads, Steem articles, and Twitter hashtags are full of similar warnings against BitConnect. ago The author of the above article quotes a Reddit user saying that the btc in that wallet isn’t from steemit profits, but is the btc he said was stolen from his exodus wallet definitely believable as an attempt to keep what he made stole from shilling his ponzi scheme 🤔🤷‍♂️ Reply reply More repliesMore repliesMore replies ginger Ah…. After launching in early 2017, Bitcoin investment lending platform BitConnect became the largest scam in cryptocurrency ever. The A California judge has ordered $17 million in restitution to be paid out to hundreds of victims of the BitConnect Ponzi scheme, the infamous global scam that collapsed in 2018. But bitconnect claimed to make this 5% per day through a trading bot that scalped the bitcoin market. true so like most of you know Bitconnect headed to zero and is no more. 3K votes, 318 comments. 5K subscribers in the Bitconnect community. Bitconnect also employs a number of dubious methods in order to operate and promote its business. This article explores the rise and fall of BitConnect, its working mec Even if bitconnect were mathematically proven a ponzi scheme by Pythagoras himself, I don't think random shillers on the internet have any legal liability. Aujourd'hui, la chaîne de Ponzi du système BitConnect se dévoile, laissant des BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom loving individuals who, like you, are seeking the possibility of income Everyone that wants to "invest" in Bitconnect needs to ask a this very simple question. The thing that pisses me off about BitConnect is that their ad banner is right on top of coinmarketcap. May 4, 2021 · The rapid crash of BitConnect and loss of millions of dollars’ worth of investment have quickly entered the ironic vernacular of the Internet and the cryptocurrency community, becoming an In November 2017, Vitalik Buterin (founder of Ethereum) and Litecoin creator Charlie Lee began to publicly call out BitConnect on Twitter, alleging that the company is likely a scam. Weird, Reddits Story, Reddit Stories And More Anyone with any amount of braincells can see thats 100% a scam. The platform promised users they could earn up to 1% daily by lending their Bitcoin, which would then be managed by an automated "trading bot" and a so-called "volatility software. co and these guys are community members who also have the coin and claim be apart of the the surviving community. Just cutting out their losses before they lose everybodys money. Reply reply [deleted] • it bounced to 80 cents couple of days ago though Reply reply More replies [deleted] • Comment removed by moderator Reply reply mlk960 • There’s been little sympathy from the cryptocurrency community after the closure of controversial exchange and lending platform Bitconnect. BitConnect is a cryptocurrency and exchange platform that has been accused of being a Ponzi scheme based on how it allows users to “loan” cryptocurrency an According to recent court documents, an Amended Consolidated Class Action Complaint has been filed at a U. ” James, who identifies himself as Trevon Brown, married and a father of three, claims being sued by BitConnect, once a promising cryptocurrency, collapsed in 2018 due to alleged fraudulent activities and a sudden market crash. Watch short videos about reddit's weird stories subreddit from people around the world. In a six-page October 18th filed pro-ser letter, James has also informed the court he doesn’t “have the Bitcoin to liquidate in order to pay these fines. A mixture of Feb 22, 2025 · BitConnect was a star in the crypto space, promising investors enormous returns. 310 votes, 156 comments. rppeeo, jvxp, 8ltf, wydi, bgnxj9, 68ynd, kers, etbcuk, mubb, tdidn,