Looks like Bitconnect finally pulled their exit scam.

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V4Vendetta

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Joined
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From
Texas
Bitconnect is reportedly dead. Virtually no one can log in and the price has plummeted under $40. They released a statement today that they are halting their lending and exchange platform. All this leading up to a supposed launch of a new Bitconnect ICO called BCCX. But considering this sudden move who would trust such a project? Despite this, buy orders are outnumbering sell orders on HitBTC. And some of the comments in the troll box are pushing the idea that the coin will go back up as high as it was prior to the announcement. Not sure if this is pure delusion, if they know something we don't, or if the people trying to sell are trying to push this idea so they can sell before it goes to $0. Others are claiming that the BCC token can be used to buy the new Bitconnect BCCX token, although no proof has been provided as of yet. Either way, it was a ponzi scheme that would have ended at some point anyway. I for one am sad for those who lost money, but it is a testament to doing your own research and choose coins wisely to invest in.
 
Joined
Nov 2017
From
US
Other than the YouTube video, what tipped a lot of people that it was a scam?
Was it the video that made people suspisous?
Or was it something before the video?
I would like to know cause, it's something I don't want to get myself into.


IaimToMisBehave
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
Other than the YouTube video, what tipped a lot of people that it was a scam?
Was it the video that made people suspisous?
Or was it something before the video?
I would like to know cause, it's something I don't want to get myself into.


IaimToMisBehave
This video was pretty recent. The scam claims were because they were super secrective, totally centralized, and their platform was structured like a MLM pyramid scheme. Plus their payout model was unsustainable.
 

V4Vendetta

Moderator
Joined
Apr 2017
From
Texas
For me the answer is reading forums, blogs etc. That said there are a lot of YouTubers that review cryptos regularly including myself and watching those videos, bitconneeeeeeeect has been getting called out for weeks if not months. When you are looking at an altcoin in addition to your own research see what people are saying then draw your own conclusion.
Agreed.
 
Joined
Nov 2017
From
US
For me the answer is reading forums, blogs etc. That said there are a lot of YouTubers that review cryptos regularly including myself and watching those videos, bitconneeeeeeeect has been getting called out for weeks if not months. When you are looking at an altcoin in addition to your own research see what people are saying then draw your own conclusion.
What youtubers do I watch on the regular?

IaimToMisBehave
 
Joined
Jan 2018
From
Krakov
Well, the collapse of Bitconnect was kind of expected. The smart investor would always consider various options. Putting all the eggs in one basket is not smart :) As for me, I constantly look through new alternative projects in search of the best ones.

Recently I decided to start working with Octoin. For now, it seems credible. Here’s some information about the project, and if you have any questions about it, I would love to help.

OCTOIN: INVESTMENTS AND MINING

About the company:

Octoin is an international company, created at the beginning of 2016. The founders of Octoin are the professional traders from UK and Singapore, as well as by the business owners of the largest mining pools of North-West China. The synergy of their efforts and the integration of capitals allowed to start the professional trading at maximum volumes, and investments at the trusted ICO companies. Also, the most effective modern technologies are used for mining of the whole range of most promising altcoins.

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In June 2017, the work with Octoin became available to the wide audience of users: investors, traders, miners. Moreover, Octoin was open to the large group of people who follow the trend of cryptocurrencies, blockchain and also, to the network marketing leaders.


Investments:

The profit for investors comes from trading and ICO. The investor’s status influences the profit level. Also, the statuses influence the time periods, options: “Insurance rate” and “Closing the portfolio before the end of the investment period”. Chosen cryptocurrency for the investment portfolio is important as well.

The profit for investment portfolio is accrued on a daily basis.

Investment period is from 30 to 150 days. The profit percentage changes according to the period.

30 DAYS PORTFOLIO BRINGS STANDARD PROFIT
60 DAYS PORTFOLIO INCREASES DAILY PROFIT FOR 5%
90 DAYS PORTFOLIO INCREASES DAILY PROFIT FOR 10%
120 DAYS PORTFOLIO INCREASES DAILY PROFIT FOR 12,5%
150 DAYS PORTFOLIO INCREASES DAILY PROFIT FOR 15%

OCTOIN has got 7 statuses:

USER is given to everyone at the completed registration process.
ASSISTANT status grants 3% of additional daily profit.
SUPERVISOR status grants 5% of additional daily profit.
MANAGER status grants 7% of additional daily profit.
LEADER status grants 10% of additional daily profit.
DIRECTOR status grants 15% of additional daily profit.
PARTNER status grants 20% of additional daily profit.

Minimum deposit: 10 USD
Maximum deposit: 100 000 USD
Average monthly profit: from 26% to 32% depending on the status
Type of payments: manual
Return of deposit: at the end of investment period
Payment systems: PerfectMoney, AdvCash, Payeer, Bitcoin, ethereum, Litecoin, Zcash, Dash

Early portfolio closing

The payment for the service of “Early closing of investment portfolio” is 30% of the daily profit for the specific portfolio. The charge fee for the early closing of the portfolio (before the 30 days are over from the moment of opening portfolio) is 20% from the invested amount. There is no any extra charge if portfolio is closed after 30 days.

Rate Insurance

Additional service “Rate Insurance” is protecting the investments of the users from the unexpected drops of the rates of cryptocurrencies.

Support of secure investments

The service “Rate insurance” allows fixing the rate of the cryptocurrency in USD at the moment of the payment of the investment portfolio. Thanks to the insurance you are protected from the losses. The daily profit will be shown in both: cryptocurrency and USD. Every day the user can choose in which out of the two currencies to take the most profitable income. The closing of investment portfolio after its full completion is possible in USD or in cryptocurrency of investment in accordance with its current rate at the moment of portfolio creation.

The payment for service “Rate Insurance” is spread during the whole period of portfolio validity period. It is 30% of the daily accruals for the specific investment portfolio. This payment is taking only for the risks which Octoin is bearing.


Mining:

Minimum deposit: 10 USD
Maximum deposit: 100 000 USD
Average monthly profitability: 35%
Types of payments: Manual
Deposit is included in the payments
Payment systems: PerfectMoney, AdvCash, Payeer, Bitcoin, ethereum, Litecoin, Zcash, Dash

Rental period

Octoin makes the long-term rental of mining capacities profitable. The longer is rental period the less is the rental payment for the mining capacities.

30 DAYS RENTAL. DISCOUNT - 0%
60 DAYS RENTAL. DISCOUNT - 3%
90 DAYS RENTAL. DISCOUNT - 5%
200 DAYS RENTAL. DISCOUNT - 10%

P2P-exchanger is a platform of free exchange of cryptocurrencies inside Octoin. Each registered user can place as new exchange order all cryptocurrencies that he/she has got and all the money, which he/she has got on the balance. There is a calculator to make the process of order creation easy and simple. It will show the current rates of all the currencies and calculate the amounts.

https://octoin.com/3187603289OCC
 
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