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RE: I Received a Cease & Desist from a Bitconnect Promoters Attourney
Maybe you can give out the name and address of this lawyer. There are lots of people that may want to contact him about suing his client.
Hahhah, I like that Idea and also it will good to have the lawyers name and address so that he or she can be served a lawsuit for harassing individuals with frivolous bullshit.
The funniest part of the letter is that this individual never promoted a ponzi scheme and never in promoting fraud/fraudulant activity/ or illegal activity.
Pon·zi scheme
ˈpänzē ˌskēm/Submit
noun
a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
Belief in a nonexistent enterprise...check, fostered by payment of quick returns....check, returns the first investors money from money invested by later investors....check.
It looks to me like Bitconnect checks all three criteria for what a ponzi scheme is.
Add to that the State of Texas as well as another state which slips my mind has called Bitconnect an unregistered security so best case scenario anyone promoting Bitconnect was promoting an illegal unregistered security, worst case scenario and in my opinion and by all accords pretty much according to the definition of a ponzi scheme Bitconnect was one.
I probably won't mention a name but definitely gonna put together a video this weekend.
It is pretty aggravating for sure and especially since we are self regulated it becomes a big part to call these idiots out....etc.
In the end like I have said before I don't really know what should happen to these fools. If nothing else I just want to see them lose all credibility and there following on all social media.
But yeah I know the uneasy feeling of even being threatened by these douche bags.
You should seriously do a video for YouTube about this. You don't have to give out the name obviously but it would be cool to get the info out there about how these scammers work. You might also want to forward that letter to the SEC and FINCEN.
I was debating whether it was worth stirring some stuff up and also whether it's even worth my time and attention to focus on this nonsense.
I think I"ll make one video about it if for no other reason than I'm sure other people got this letter as well and I'd like to let others know it's nothing to be worried about and they aren't the only one. If you look at my response to @brianphobos above Bitconnect checks all 3 boxes in regards to the definition of a ponzi scheme but even if that is up for debate Texas has declared Bitconnect an unregistered security so best case scenario it was promoting an unregistered security worst case a straight up ponzi so I don't see how someone can be mad at me for in my opinon reporting facts.
lol, I'm hoping maybe some more people will come forward with similar stories to mine. If I got this letter I have to imagine other Youtubers or bloggers got them as well. My video wasn't even bad and didn't say anything that was factually untrue. If I got this I imagine they are just blasting them out to anyone who's talked about this guy hoping to intimidate people into taking down videos.