Shitconnect was suddenly demoted from 7th on CoinMarketCap to 16th. As expected it was taking down what most people consider legitimate projects one by one and was almost going to overtake Dash but then suddenly it got moved way down. It wasn't because the supposed price of it fell it seems to be a dispute over the amount of coins circulating. So once that got chopped down a lot it now doesn't have as high of a market cap.
Other people have suggested that CoinMarketCap should ask to see proof that the trading bot exists and makes the returns that are reported or delist it. I like that idea personally but I think that for CoinMarketCap's sake they don't want to play the regulator so much. There is also controversy over how much Ripple is in circulations. A person could even make a case that Dash has a lot of locked up coins in the Master Nodes and that STEEM has a lot of locked up coins in STEEM Power. So should that be counted as circulating? Just food for thought.
Do you think CoinMarketCap just moved Shitconnect lower because so many people were make a huge fuss about it being so high on the list?
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There were a lot of threads on the major crypto subreddits about Coinmarketcap and Bitconnect, so I'd say the pressure from the community is very effective.
Yeah it could have been the pressure for sure.
Bitconnect is just a bomb ready to explode at any time, who joined first made HUGE profits, that is true...but, no one can predict when it is going to blow up so investing now is a massive risk.
Yeah I agree. It is really hard telling when they Exit scam or it collapses or the authorities bag them up.
Authorities could seriously bag the big promoters. It's disgusting to see how BitConnect is promoted. After Vitalik called it a Ponzi, the response was that BitConnect is somehow connected to Bitcoin. So the value can't really go down. It's all going up. I actually ended up writing an entire article + a little analysis on why and who invest in these kind of ponzi/pyramids. :https://steemit.com/cryptocurrency/@vimukthi/trevon-james-vs-vitalik-buterin-in-depth-analysis-commentary-on-bitconnect
Read few of your posts. Great to see more people sharing similar sentiments about these HYPE coins. upvoted resteemed and following.
Thank you! Yeah now I actually saw Trevon admitting there probably isn't a bot and like you said suddenly he is saying that the price is tied to Bitcoin.....etc so it will continue.
But he won't come out and say that they could exit scam tomorrow or that that authorities could seize the website....etc. I will check out your post.
BitConnect is a decentralized scam. The easiest and most practical to arrest is the promoters of it. To anybody who is familiar with financial fraud, the HYPE freaks will stick out as sore thumbs. These idiots are an insult to the entire crypto community. A technically weak coin like BTC is bound to fail. I've written extensively about the death of Bitcoin and I only give it 3 years to live.
@haejin.@ew-and-patterns and many other analysts predict massive BTC correction coming very soon. That alone could be a massive blow to this scam. Human progression happens with intelligent decision making and critical thinking. Anybody who promotes BitConnect and anybody who invest in it (except for pump & dump investors who plan their exit strategy) are all going in the opposite direction of human progress. Human kind will have no future unless these people get burnt and mean BURNT.
I have no jealousy regarding the money they made. I respect capitalism. But I can never not disrespect stupidity. The very first Trevon James video I stumbled across made me disgusted. Seeing all his supporters and many similar people almost made me loose faith in humanity.
I remember Anonymous making some threats to crypto YouTubers. But it seems they weren't too serious about it.
That is funny and you are right the easiest way would be to arrest the promoters of it and maybe have them make a video telling their followers. Hahha. Have them do some community service or something and let them off but tell everyone they aren't going to be so easy on it next time. Hahah.
I just wonder how close to the top are the people who threw the big MLM style party over in the Philippines. That was pretty nuts.
Yeah the thing about Trevon that just always made me shake my head was he didn't know what he was talking about. But it really showed that just being willing to make any videos talking about crypto allowed people to build and audience. That is when we knew that crypto had arrived at triple retard mode.
The sickest thing of all is that great YouTubers who make valuable contributions and genuinely analyse the coins and provide good news only get few thousand views. YouTube which appeals to the lowest dumbest idiots give Bitconnect scammers over 50K views. That's just sick and disgusting.
I really want to see this ponzi money confiscated. We as a community would fail if we allow these things to continue.
I was thinking things couldn't get worse, but I stumbled upon this:
https://steemit.com/steemit/@skeptic/randowhale-has-killed-my-account-again-please-help
https://steemit.com/@berniesanders/comments
If you check the behavior of berniesanders You'll see that there are 55upvotes following wherever he go which have all been gaming steemit platform for money while insulting the platform, community and the creators.
That's liberals for you. I don't even know what I can do to help. That's 55 whales upvoting each other and flagging those who oppose them like true communists.
it is a battle between Dash...lol BitConnect will stop when BTC price stabilizes in definite...
yeah i concur i fear a lot of people are gonna get their btc fingers burnt with bitconnect. I am staying clear of that coin. good post!
It will be interesting what happens with it and it will be interesting if it ever officially comes out why it got moved down or that the circulating supply was lowered.
The first people who buy into a ponzi still make money. I think it is bad for the cryptospace in general. But if we want to be decentralized and free of regulation we are going to have to put up with some scammy stuff too.
That is 100% true. We have to self regulate! And when it comes to Shitconnect and other ponzi's the way I think about it is call it what it is and if people want to step up to the slot machine and gamble I'm perfectly fine with that. But it is also our job to call out the BS as well!
i still think bcc is a good coin at least for now. lending they give back in usd. if u decide not to transfer usd to bcc and then bcc drops u still have same ammount of usd
Nothing changed but approx 1.5B reduction in marketcap. Price didn't change. The only logical reason I can guess is that they corrected the coins in circulation.
Personally I was amazed that it had over a 2 billion market cap. 550m is still amazing for a coin that has to keep demand going.
Regardless, I avoided BCC 6 months ago and nothing changed my mind today. Thanks for the info.
Yeah it is pretty insane and even after sending it to the "back of the line" it is cutting it's way back up. It will be interesting what happens.
But yeah 6 months ago we were seeing the same thing but I personally didn't think it would last this long before they did their exit scam.
Even Vitalik Buterin says its a ponzi scheme
It is good that guys like him are at least giving their opinion. I was kind of hoping it would get up to Litecoin level on CoinMarketCap so that Charlie Lee would get pissed and tweet about it. LOL
Its price is based on their own scam exchange and it's about time they delist it entirely.
I agree, I would like to see it go away or be listed with (scam) after it on CoinMarketCap. It is interesting that HitBTC has listed it and it will be interesting to see what happens to it in the next few weeks.
https://hitbtc.com/exchange/BCC-to-BTC
It true. I went their to study and make fun of it. You can't cancel trade which artically inflates the price
You can't cancel a trade on HitBTC or their internal exchange?
nope. i tried to do in one of my tests. That how the artificially inflate the prices. On hitbtc you can cancel trade but not on their internal exchange
I honestly don't think that BCC can ever match Monero's features. Monero is built on an entirely different algorithm than Bitcoin. Although you could probably tack on some of its features to Bitcoin eventually it's hard to catch a moving target.
In my opinion Monero is an amazing project with great developers. I can see it going beyond $1000 in the future sometimes. It might not be real soon but there is a lot of potential in it!
I stay far away of this cryptocurrency and never intend to invest on it!
Yeah a lot of us consider it a disgrace. This is me when a newbie asks me about it.
nice post
Thanks for reading!
so many people like DASH... Dash doesn't want to be passed by BCC so he made a "fuzz" in the market...
money locked in steem and BCC are not circulating but making steem and interests respectively
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STOPI've never dabbled in any of these HYIP type programs however lately I've been curious if for no other reason than to make a Youtube video and Steemit post showing true results from someone who doesn't stand to make affiliate profits off recommending it, ie I'll purposely not drop any links" and I wanted to see what would happen. Is it wrong to think if you get in on one early you'll be one of the lucky ones who gets paid and can get your initial investment out quickly and let the rest ride and see what happens?
I think that is a fine way to look at it honestly. Just treat it like a gamble and realize you could throw $100 or $500 or whatever at it and it will be gone tomorrow. That is all I really wish the top affiliates would do. Just say it could be gone tomorrow and whoever is operating the web sites could take the money and run right away. See you can't do something like that with STEEM. Even if Steemit.com went down we would have DTube, ChainBB, Zappl, Steepshot....etc and all the witness nodes would still be up.
Here is the only think I would say about the HYIP programs right now. It would probably make more sense to just stay in BTC or buy more BTC or whatever with the fork coming up. If you put it in a HYIP then your money is locked up with them and they could run with it plus you probably won't have your original investment back in time for the fork depending on which one you do. Just know that Bitpetite was a popular one being advertised and they literally added Monero one day and then about 3 days later they did their exit scam. So there is no telling when these things take the money. Laser Online is a ridiculous one and it says it is 12% / day but that is actually part of your original investment that you are getting back. It actually calculates out to about 2.5% / day because they don't pay on weekends...etc. That one is actually humorous because they have these actors pretending to be a real company based out of Delaware.
Another thing that recently happened is @stellabelle put up a post about the current state of Steemit and things to make it better. I put up a super long response and actually mentioned your account and how despite spending a lot of time on the platform that you have had a hard time getting traction on the payouts. I saw she upvoted a couple post and also there was another person who is trying to get you on the minnowbooster list. So hopefully some things will get better.
Hey what's up buddy, just read the post. Thanks for the mention I really appreciate it. I've been thinking about Steemit lately and while I do wish I was earning more per post, and while to some extent I do think I deserve a bit more for persevering and being fairly consistant on here, I admittedly have periods of being really excited and others of taking a step back, if I really do some self assessment I would say my biggest shortcomming is doing more creating than I do curating and commenting on other people's stuff. I probably should also make more of an effort to participate in contests and stuff as well.
I think what stops me is, it's hard to put into words but just to make a comparison on here I feel like I have to put a lot of effort into seeking out quality content I like, I'd like to put an emphasis on what I lke because there's a lot of great content on here in terms of quality but some of it may not be my cup of tea. I love your posts, a while back I was really loving @bodyinbeta posts as well, he was doing a lot of stuff on Keto which I find interesting, he was doing amazon merch posts and I used to follow him pretty closely and while I admittedly havn't checked up on his stuff in a while there was a flurry of every post of his was contests. Don't get me wrong that's not a criticism its just that the type of stuff I followed him for wound up not really being posted anymore.
I'm guess this is the best way I can put it. I can start watching Youtube, lose track of time and realize that 7 hours have passed and I just went from one video to the next to the next. I don't find myself doing that on steemit. Why is that? Maybe Youtube does a better job of showing me similar contetn to what I like, Youtube is bigger so maybe there's just more of the type of content I like, I'm not really sure why it is but I'd love if I could interact with this site as enthusiastically and in the same way that I do on Youtube.
It is certainly hard to find a groove on Steemit. I blog about a lot of different things and depending on how much time I put into a post it feels like it is worth it or it doesn't. Right now I pretty much know I'm going to get $2 / post but that isn't exactly worth my time in a lot of ways. I was lucky enough to strike a cord with a lot of people on my recent post about Shitconnect that hit the trending page. I feel like I voiced what a lot of other people have been feeling with that as well.
There are just certain topics that I blog about that I feel won't hit the trending page no matter what though. Like if I do a post on fitness I don't feel like it will go anywhere. Same thing with Tinder / dating related stuff. It could be super well written but it is almost too controversial I feel like. I know that sounds funny for a site that is supposed to have no censorship and all that but since everything is transparent then people worry about what other people think possibly.
I know what you mean about YouTube and getting lost in there and you keep finding more content to watch. I can kind of do that with Steemit but even though the Steemit community has grown a lot I feel like there are only a few people have any success talking about certain topics.
Like there are a couple "foodie" bloggers. A few travel bloggers. A few people doing art. Then there are a handful of crypto related people. But it all boils down to the fact that they have to have a lot of power themselves typically and also get on upvote lists.
Obviously it is super hard to grow a YouTube channel but I feel like people have this clearer vision that when they start on YouTube it is going to be tough and they have to keep going and being consistent and then they could become one of these successful YouTuber and be driving supercars and balling out of control.
With Steemit possibly people from the outside can't really see that or feel like someone is "Steemit Made" There are really only a couple examples of pure content creators doing pretty well on here and making over a $100K equivalent and it all had to do with them never selling when the price got super low...etc. Or not being in a situation where they had to live off the earnings. Where they could keep letting it build and they had other income or a spouse or something...etc.
I'm just opening thinking about it as I type. I think that people with power think a lot more about their votes on here and even though this is a tipping platform with the "tipping" not coming directly out of that person's wallet I think that once a person has a lot of power they start consciously or subconsciously being more greedy when it comes down to their votes. Especially when the price drops some for STEEM and a person's vote is worth $4 instead of $8 then they start saying "I'm going to have to upvote myself more to make back my investment"
Where as on YouTube there is not as direct of a tie to the viewers money since it is coming from advertisers. It is an interesting situation for sure.
Bitconnect is an outright fraud and a Ponzi scheme. Detailed due diligence is here: http://blog.icoindex.com/why-icoindex-has-labeled-bitconnect-as-an-outright-fraud/