not criticising, just saying bitconnect gave back all active loans, they didn't cheat people out of money
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not criticising, just saying bitconnect gave back all active loans, they didn't cheat people out of money
AFAIK didn't they give it all back in their bitconnect token though? Hence the hugeee price crash... Like, if you invested 1 BTC into their platform they gave you back 1 BTC's worth of the bitconnect token. But, due to the price of that token suddenly free-falling in price, you essentially lost most of your money. That's what I thought happened anyway.
in the end i had around £1200 invested, and got around 3 bcc tokens. the money that comes out of active lending goes into bcc, they cant change that (i.e they cant change it into fiat for you, you had to be the one doing it). and they couldn't pre-announce the release of bcc or do it in waves as their could be inside trading. they did their best and its not their fault the value dropped, it dropped because everyone sold. and so in that sense people lost money but not at the fault of bitconnect, plus they could have held their coins like i am, and wait for the value to rise.
hope it goes back up and best of luck to you
You present a fair case but they did cheat people out of their money. Lets say you had $1000 invested. Bitconnect is refunding people at a rate of " $363.62 USD". You would get roughly about 3 bitconnect tokens. However the price of bitconnect is 30 bucks therefore you are losing a heck of a lot of money.
true but the potential for loss minimalisation, or even possibly profit, is still their as the value should rise back up after a few months.