Most of people who invest their money in cryptocurrencies usually try to earn money without checking what they are putting money in. Normally investing money in crypto means that people choose to one or more different ways to earn an additional money like minig, staking or buying on the cryptomarket... it depends...
It is mostly truth that in the nearest future like next 20 years there will be less than 20 % of whole professions. The very rest will be replaced by robots. Things are changing and working in one place for 25 year to go to the retirement became irrational. People seek for an additional sources of income. They just want to be rich but often forget about basic rules connected with investing money in crypto, it is risky.
One of the most important rule is that people should be aware to invest only that amount of money that they could loose. Next importand rule is to know everthing about thing what they are putting money in.
The secon rule is hard to execute but lets be honest, the more we know about investing the less risky it is. If we talk about investing money in cryptocurrencies , what is one of result of blockchain technology, it is important to know anyhing instead ( https://en.wikipedia.org/wiki/Blockchain ).
Perfect example of breaking two basic rules which I mentioned before was to invest money in the cryptocurrency miracle algorithm -Bitconnect. Briefly, that is a platform (cryptocurency) which pays its clients 1% on invested amount of money ( in $). What is important, whole amount of money is unavailable to withdraw for several months. And of course they were paying for bringing a new clients.
I am sure that many of us have heard obout the Bitconnect victims. I will try make an open discussion about the bitconnet case rather than judgeing it like it could be a money fraud or scam or etc.
Lets start with possibilities which people who lost their many in bitconnect have. What is already known that the bitconnect have announced that they are closing the lending platform and their market. They also mentioned that whole invested money will be given back ... but in bitconnect coins. So it means that it was all legal and they did not o anything wrong becase the "invisible market hand" made the price low from 200 up to even 5 $.
Many people started to panic and sell every single coin to get few $$$. The best of Team Leaders who brought thousands of people to the bitconnect platform tried to encourage their client not to sell bcc. As we can see many people started bouing bcc coin for the price below 20 $. It was profitalbe for short term. People could earn 100 % up to 400 % on the market drops.
What possibilities people have in the bitconnect case ?
In my opinion they can:
Taking all into account...
I would like to focus on the main topic which is the reason why did the bitconnect founders stop their business?
The Bitconnect Founders have earned billions of dollars for bringing people to ther platform. It was so brilliant to make people believe that they will be rich so qiuckly ( terrible ). Nextly, they waited for the crypto market down becouse of China and South Korea (they said no for cryptocurrency trading) so the market went down deeper. And the last thing they brought out were DDOS attacks and the government accusations.
Lets seek for the reason
The day after the " black announcement" from Bitconnect, South Kores denied all information about cryptocurency trading ban. What is more, Russia said that there will be no records for those who want to trade crypto. And the market is all green again.
Conclusion
They just did a pure money manipulation for make people sell most of their coins for lowest price. They earned twice because they could rebuy bcc coins for less than 20 $. And now the bcc founder can finance their bCCX ( bitconnect X project which is pricen on 2,5 billion $....
So was it worth to keep bcc coins for longer rather than sell them for 30 $?
or maybe 30 $ for bcc coin is better that predicable 0$?
Your thoughts are welcome
Grreenn
