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A cryptocurrency that was largely determined to operate as a Ponzi scheme, reaching a high of about $435 in value during its peak, and hitting a low of $0.89 as of today. Bitconnect has a lending platform with promises of returns that are generally regarded as unsustainable, causing people to argue that the returns are merely based on new funding put into the platform rather than the actual generation of profit. Suspiciously, the founders of this platform are anonymous. The SEC and possibly other U.S. government agencies are investigating this cryptocurrency.
Carlos: "It's a scam!"
"Biiiiiiiiiiiiiiittttcoooooooonnnnneeeeeeeeeeeccccctttttttt!"
John: "I just lost my life savings in Bitconnect."
520👍 3👎
I can't believe bitconnect closed it's website!
14👍 3👎