UK threatens to shut down popular Bitcoin investment site BitConnect
4 stars based on
43 reviews
TNW uses cookies to personalize content and ads to make our site easier for you to use. The cryptocurrency community is slowly but steadily growing more suspicious of BitConnect and its dubious business model. Crypto pioneers, including Ethereum founder Vitalik Buterin and Litecoin founder Charlie lee, have spoken up against the bullish Bitcoin investment platform, calling it a Ponzi scheme.
BitConnect really seems like a scam. Anyone who doesn't yet agree with this should watch this video: I've been asked what I think about BitConnect. From the surface, seems like a classic ponzi scheme. I wouldn't invest in it and wouldn't recommend anyone else to. While this marks the first time Lee has shared his thoughts on BitConnect, Buterin had previously expressed skepticism about the Bitcoin lending platform on other occasions.
Asked about the sustainability of its business model, which roughly offers 1-percent daily return on investments, the Ethereum founder commented that bitconnect news december signs seem to suggest BitConnect is running a Ponzi scheme. In fact, many speculate that neither of these UK registrations are bitconnect news december. An alarming number of the individuals listed as stakeholders in BitConnect appear to be registered with inconsistent addresses and birth dates.
Additionally, Twitter sleuths have since confirmed with some of the purported stakeholders that the details behind their names are indeed not authentic. Cryptocurrency influencers had so far opted to maintain a safe distance bitconnect news december BitConnect and all the Ponzi talk around it, but it all but seems the situation is swiftly starting to change.
As I recently argued in another piecewhen mainstream attention is finally shifting to the cryptocurrency market, every little fail could have huge repercussions for the entire market. Another reason for concern bitconnect news december that the stunning popularity of BitConnect has spawned off a number of equally fishy copycat companies, seeking to mimic the business model of the Bitcoin investment platform, but with other currencies.
A new day, a new scam, welcome to crypto Despite all the doubt surrounding BitConnect, the platform has managed to cement its position as one of the twenty leading cryptocurrencies by market share, according to bitconnect news december from Coin Market Cap. In fact, prior to a re-calculation of its total circulating supply, Bitconnect news december used to be bitconnect news december the top 10 biggest cryptocurrencies by market cap.
One of the ways in which the Bitcoin lending investment platform has bitconnect news december to maintain its popularity is through its large network of affiliate promoters, defending the platform on YouTube and other social channels — though often without offering legitimate proof in return, other than screenshots of their earnings.
Posted by Sam Capizzi on Tuesday, November 7, Published December 1, — December 1, — I follow this rule of thumb: Could not stop laughing at this!
Mix December 1, —
