On one hand, I absolutely agree a 90% loss is better than 100% loss. On the other hand, the fact that we know they manipulated the price and if they are buying it back to slowly pump up the price at the expense of you and me and everyone that invested, that's just messed up. Considering they were selling out BitconnectX ICO everyday before they pulled this stunt, they had enough crypto stored up that they could have given some of that back to people instead of all BCC at the inflated value of $363, but they decided to keep that so they can use it to buy back BCC to slowly pump up the price (and the price isn't really high, just $30).
Thinking about this more, instead of manipulating the BCC price, they could have just released everyone's loans into the lending wallet. That way, everyone have to buy BCC and then exchange it for BTC to exit. Jeti Knight always said we are not getting dollars, just USD VALUE in the lending wallet. By releasing everyone's loans into the lending wallet (that's what supposed to happen during a capital release), BCC price would be naturally pumped up instead of articificially pumped to $363. At the end, we probably wouldn't have been made whole but I think we all would have come out with more than 10%.
I finally am able to get my BCC out. But I'm selling slowly, hoping the price will come up a little bit more. Have to make a decision within the next few days on if I want to sell it all before they drop the $150 pegged value of BCC in BitconnectX.
From the hard times, I wrote the post on steemit, collecting the steem worth 1$ for 1 steem, I invested in Bitconnect hoping make some profits out. But I guess I should be hodling into the steem rather than trying to invest in the lending platforms ! Hope the price surges to moon now so we get out invested money back !
Regards,
khatisam4
I think we all learned our lesson on lending platforms the hard way. I wish I invested Steem instead of BCC. But there's no going back. I'm hodling BCC for now and hope it moons like you said.
Boxmining was wrong. The only reason why my position was shunned was because of emotion, and not the facts. The reason why I pulled the video is for the same reason. We spoke Jack, and though you state that the coin was "no where near $362, it was actually not $250, but $297. However what you fail to realize is the fact that the general valuation you're referring to was based on a total release of all capital on the entire platform. My video talked responded to how bitconnect indeed had the capital to pay out, generally speaking 1%, to everyone using the platform...and the fact that they paid everyone with a coin that was valuated at $362 proves it. How can you pay out an entire 100% active invest (albeit at the price) but cant pay just 1% of folks active investment at a bcc price of $297? Boxmining was wrong plan and simple. If folks take the time to understand what im presenting then it's clear to see that this has nothing to do with the $362 valuation. Bitconnect had enough to pay the interest on the day. They didnt run out of money because if they did they wouldnt have had money to payout the entire active investements. Saying that bitconnect ran out of bitconnect tokens (which is how we got paid) is ridiculous just by seeing what they ultimately did with the tokens. Just dealing with the facts.
What happened to bitconnect not a believer anymore? I mean who makes a whole YouTube channel with 1hr long video just to say a scam isn't a scam. You must be the owner of BCC?