We all know the Mantra "This is not professional financial advice, invest at your own risk"; but is that enough not to be held accountable?
The subject matter in sum relates to a complaint that was filed by six individuals on their own behalf, as well as that of all other persons who have lost their money by investing into BitConnect. The six plaintiffs stated that their personal losses amounted to $771,000.
The class action complaint states that BitConnect issued cryptocurrency tokens that were actually unregistered securities and collected additional funds via a "wide-ranging Ponzi scheme."
In this lawsuit the names of Bitconnect's more forward promoters keeps ringing out those being:
Treyvon James, Ryan Hildreth, Cryptonick, and CraigGrant.
The argument now is, while these guys most definitely swayed the minds of their subscribers they should not be held accountable for what was ultimately and individuals personal decision. On the other hand susbscribers are adamant that if it wasnt for the way the aformentioned promoters now deemed Shillers presented the Bitconnect platform they would not have invested. My 2cents on the matter however will be a mixture of both POV's ; on one hand you made the decision yourself and should ultimately be responsible for your actions but when you have promoters offering Opt-in rewards and giveaways for those that join using their refferals enticing their subscriber base with a honey-pot of sorts i think they should atleast apologize to those they enticed with encentizes, playing off the emotions of individuals seeking financial freedom.