I heard one person commited suicide over bitconnect. It was expeced, always when ponzi scams fall apart, many lives will be ruined.
I heard one person commited suicide over bitconnect. It was expeced, always when ponzi scams fall apart, many lives will be ruined.
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
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.
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