LATEST STATEMENT FROM BITCONNECT REGARDING LENDING PLATFORM
Today 'The Team Bitconnect' released an updated statement regarding the sudden closure of the lending platform. As you can see in the screenshot below the team acknowledge that the price drop is the direct result of them releasing all members coins at one time.
CHEERS FOR STATING THE OBVIOUS BITCONNECT - TEL US SOMETHING WE DON'T KNOW
I do find it strange that bitconnect go on to state that they will be opening the exchange platform on the website tomorrow, I mean are people really going to risk sending more bitcoin to the platform in order to buy a coin for $20.
Interestingly, the announcement that 1 BCC will be locked at a set price of $150 on the bitconnectx ICO platform 'to support existing coin holders comes after the daily limit was doubled for the ICO.
IN A NUTSHELL:
1- CAPITAL RELEASED - PAID IN BITCONNECT @ $363
2 - MAJOR SELL OFF - RESULTING IN BITCONNECT PLUMETING
3 - ANNOUNCEMENT THAT BITCONNECTX TO ACCEPT 1BCC @ $150
4- ANOTHER PANIC SELL 1BCC FOR 3BCCX
WHAT'S COMING NEXT?
5- ???? BITCONNECT ANNOUNCE THAT THEY WILL REFUND IN BTC ANYONE WHO STILL HOLDS BCC ON THE BITCONNECT.CO WEBSITE FROM THE EARLY CAPITAL RELEASE - BASICALLY NOBODY BY THIS POINT
6- ???? A FEW GET LUCKY AND EXCHANGE FOR BITCOIN AT A PROFIT
However, those two things are extremely unlikely. Either-way, there are a lot of angry people right now and even more people not involved in crypto that are confusing the risks of a centralised platform with decentralised technologies.
As a community we must not let that happen.
In the coming weeks I will be writing a series of blog posts and guides of how I am currently making money through crypto, how I plan to earn from it in the in the future and how I plan to turn my student loan into a sustainable passive income over the next 12 months - no referrals necessary!
Long Live the blockchain