Bitconnect X?
A sophisticated scam or just crap?
The last couple of days has been crazy in the crypto world.
Bitconnect pulling the plug and the major bloodbath we saw.
I am fairly new into this world, started last week of 2017 I think it was, so of course i came across Bitconnect, and I had a couple of hundred $ in some poker accounts that I never use, so thought, what the heck and ended up investing what equaled $160, hoping I would manage to get it back at least, well we know how that went he!
Anyways, when they shut down I was thinking, what ever, I make it back in some other way. Then 2 days ago I think it was, I saw a chat message in some telegram group, where someone was saying that they had sent a mail and they had stopped trading BCC at $300+ something.
After trying to log in for the most of the night and giving up I managed to get in yesterday just to find that small amount of BCC I had, because they ofcourse had equalled it to $300+, even though the price was in the shitters on HitBTC. for around $50, and it had been all the way down. So I send it there and got rid of it for less than 30 bucks, wuhuuu what a bargain...
Anyways, Bitconnect, or should they be called Bitconnec X, has opened up their new project, which they announced some time back, and here the BCC is listed in the wallet for a value of $150, but the only thing people can do with it, is to change it for BCCX coins, and what exactly is BCCX coins???
On their homepage, they just state its a new currency for merchants and payment processors, and it will have low fee and take less than 2 min to perform a transaction! Ehh aha, that really didn't make me any wiser...
And now to the thing that really is crazy: Where is the freaking white paper that tells me why I should buy BCCX coins for the fine starting price of $50 a piece... YES $50 A PIECE...
And now I hear people in the chat off HitBTC talking about buying BCC and exchange it for this new shait coin I suppose it is. WTF guys, did you not see what they did??? Terminating the exchange in an blink of an eye, leaving people with open in the wind!
I understand that some people lost a great sum of money and that sucks, and they probably will try this out to see if it works out and they can get some of it back, go for it, and especially if you have coins left.
What is known
1: They say they halt at $300+ dollar
2: On the new BitconnectX site, the value is $150, more than half what they said! WTF is this?
3: They run an ICO with a coin no one knows what can do or be used for, or how it works other than what they state on their homepage, and do we take their words as good proof??? And not even do they run an ICO, they freaking list the new coin at $50 dollars! A week back i think it was, I saw a post, here it is: https://www.reddit.com/r/Bitconnect/comments/7pag53/bitconnectx_faq/ telling that they had raised the price from $5!!! and this was done before the crash, only made me speculate more. I mean, $50 dollars for an ICO coin, I payed £0.05 at CoinMetro some weeks ago, and they even have supportive telegram group and they have A WHITEPAPER....
They start by changing the coin price, going up from $5 to $50.
Then the house comes down!
Then they state the price is kept lvl, but we can see that now it ain't, when we look at the wallet!
I think there is a good chance they shut it down before anyone has taken a shitter, just like they did with BCC.
If they where legit in their actions, why wouldn't they warn people about the shutdown, and release all loans, and give people some days to withdraw??? This is what shady people does, that is how they operate, in the shadows, poof gone.
What do I want to say with all of this, nothing else than be freaking careful with this bonfire. They extinguished the fire of the first one pretty freaking fast, and nothing supports they wont do it again.
So why would they do all this if they run anyways? Well it could be because they want to keep some bit of humankind within themselves, but then again, they really don't give a shait, that's what I think.
Again I could be wrong and this new coin goes MOON, but as an licensed engineer i structural design, and working as hardware test specialist, I need data, facts and solid reasons to support this new company, and I don't see nothing but broken data!
Stay alert out there, its the wild west.
Master Knight
BitconnectX is another sophisticated scam. But I won't feel bad for others that will fall for that. Who would buy a scam after bitconnect ponzi collapsed...
Honestly Bitconnect's reputation is currently down the drain. Regardless if this is a scam or not, it is going to be extremely difficult for this to take off given the consumer's rewritten image of the company. Based on what you've laid out in your post, it seems they are already edging towards the sketchier side. Of course, it is still very early on for this project and they are working to reorganize and come out with more fact-based updates, but I believe they are just trying too hard at the moment and rushed this news given the past week for them.
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