BITCONNECT (BCC) FALLS 88%, IS THIS THE END OF BITCONNECT?
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Bitconnect Shuts Down
The popular lending platform, Bitconnect has published an announcement stating that it will halt its lending platform.
Thoughts.....
It's very unfortunate that there are many people who will see their investment go to nothing. Yes, they gave back people's investments. However, they gave it back in their worthless BCC. Prices were ALREADY tanking at that point. ALSO, people were having difficulty accessing the website amidst the plummeting prices.
Let's further backtrack and look at this correction in general. I've seen several articles where people were taking out MORTGAGES just to purchase Bitcoin. This is one of the numerous reasons why you do NOT do that. This market is volatile and ONE thing could trigger a massive chain of events that leave MANY people in a worse position than when they entered.
I still don't understand their reason for shutting down. Could they not feed the people at the top of their ponzi? Why would you cite bad press as a reason for closing, but continue your ICO which virtually has the same name as the platform that received bad press!?
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