So today I came home from work and I checked my facebook and twitter and then Davorcoin had tweeted this announcement 4 hours ago:
There is no doubt for us that the DAV value has been negatively affected by our lending program because the crypto-environment has dramatically changed recently. We did everything possible to protect our platform and our amazing community.
However, DAV price still went from $180 to $0.5 in 20 days.
As a result, we have decided to change our strategy and to end our lending program that has become the only reason why DavorCoin is decreasing in value....We will release today all lending packages we have and every user will be credited in his account the number of DAV he placed in his/her lending package plus a 10% bonus.
The staking pool will work as before.
There will be certainly winners and losers in this project, as in many high-risk investments. This is also true for the whole cryptocurrency market.
I felt sick and hoped that perhaps it had been a twitter hack. I checked my email and it read the same. I checked Davorcoin. Thinking back to the exit experience of Bitconnect I sold the scam coins for what little I could get which was 0.00110267 BTC and in pounds that is only £5.85. I put in £150 at the start of January. This was before Bitconnect exit scammed. I was new to the crypto market and I thought I should spread my risk. This teaches that if something is too good to be true it actually is.
Davorcoin masked themselves well as the "good guy" emailing straight after the Bitconnect scam making out they would never do such a thing.
There was a few signs that something funny was going on like the davorcoin was dropping, the capital release for new lenders (p.s. I was not one of them), the lottery, then the Texas cease and desist.
Now usually when my experiments fail I say "third time's a charm" but not this time. I will not give any more lending platforms a chance. I will watch from the sidelines as other lending platforms rise and fall ten times as hard. I shall try and warn others that these things are very risky and only the first few in may make money but from what I can see everyone else did not have a chance.
I think I will stick to the main part HODLing, at the very least I will lose less sleep.