Unfortunately holders of Bitconnect will find the value of their investment has fallen 96% overnight. The company announced they will be closing their lending program and all loans effective immediately. These programs had investors buy BCC tokens with USD or Bitcoin and then stake their BCC tokens with a "trading bot". The program promised to yield investors 1% gains or higher daily.
When these programs were stopped, all investors were paid out in BCC tokens. The token was worth over $200 a week ago, but has now fallen to $6 and still falling.
What lessons can we learn from this? If something sounds too good to be true, it probably is. If its referral program looks like a pyramid, it might be a pyramid scheme.
When looking at a project to invest in, pay close attention to the economic perspective. You can't create wealth out of thin air, it is going to come from someone.
Don't fall for these ponzi schemes. If you're having second thoughts about some of your investments, it may be for good reason.
Happy Investing
and Bitconnnnnnnnnnnect!!!!!!!!!!!!!!!
:)
