Frankly, I am glad BitConnect is gone. I had several people people approach me about what "a great thing" it was, and I could never get the math to add up. I've spent a LOT of years dealing with finance and investments... and those kinds of numbers and promises have only ONE place to go. Which, unfortunately, some people are now discovering.
Unfortunately, I share your concern that it might fuel the fires of those set to "prove" that cryptocurrencies are a "scam." But this was an investment scheme that was a scam, just like lots of network marketing programs are scams. I can only hope that those who understand better will do their best to categorize BitConnect with "Scammy Network marketing" where it BELONGS, not with "cryptocurrencies," as a whole.
Scammy network marketing. I hope so to. Sadly the reality is that most journalists are of low quality these days, so if they don’t get it, their tabloid readers have even less chance.
The story will probably make it to the Sunday newspapers. The public at large won’t be able to tell the difference between bitcoin and bitconnect. I am expecting relatives to ring me asking how much I lost on bitcoin scam.
Well, the good thing about Sunday newspapers is that they tend to end up as lining in hamster cages on Monday morning. As in, people tend to have short memories.
We will go forward; either way, I will still have to spend a lot of time explaining to people interested in Steemit "where the money comes from" and every now and then I will celebrate if someone signs up.