My fellow investors, I used to watch Bitconnect since March and even tried to make some profit with it, wandering if it was scam or legit scheme, but recently figured one really bad sign that made me avoid ANY investment and can affect your decision too.
I made a small research and ended up on the UK Government’s official Bitconnect company profile page (yes, they are registered as UK company):
Now, do you see the fresh record “07 Nov 2017 GAZ1 First Gazette notice for compulsory strike-off”? That notice has a very straightforward meaning - if the company does not file taxes within 3 months it will be dissolved by the government. (Here is a simple description).
So my advice for now - subscribe on the official site to follow the company (there is a green button “Follow this company”) and wait for the new record of DISS40 type, if it appears, then you’re good to invest (I guess..), otherwise high chance of not getting your money back.
By the way, here is an example of an unfortunate company that went through the process of compulsory strike off (sorry, Bus Types LTD!)
So as you see, very soon the colossus might fall, maybe even sooner than 120 days ;)
Please leave your thoughts in the comment section below and spread the word, so that people are informed!
P.S. Everything described here is my personal opinion, based on non-professional research, given only for your consideration!
November 4 update: PDF of the above-mentioned document available here
Bitconnect did not pay taxes, lol, that is the funniest thing I ever heard. They are running the biggest ponzi scheme and UK is asking for taxes.
Wow! Good find! A few things I guess might happen. They could just do the exit scam then or they could just keep going and the entity the filed will just get thrown off the books.
Thanks man! Exactly, or possibly they might try to open another base company (e.g. Bitconnect Plus LTD) and refer to it, I guess which would be good scenario for current investors.. anyways, better to be aware :)
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STOPI think it may have started off as a scam but they are doing so well it might not be anymore haha
They created a coin that is now worth billions of dollars! They could pay out clients for a very long time just off that alone.
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Yeah, before this record appeared they might be spotless (they pay to clients, they have coin etc.), but now.. well much harder to prove they are not a scam in terms of legitimacy. Because a lot of company activities (e.g. holding conferences, paying for goods and services etc.) still need a legal entity nowadays.
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