Recent news at Bitcoinnews.com has spoken about the drastically drop of its market cap from
almost 2 Billion dollars worth to only 500 Million over night. People are speculating that
the current health of the company is not as good as they claim it to be.
The latest news coming out of the company is the Bitconnect Card, which some people
speculate to be only a marketing strategy to keep new people joining the business, so them
can still be able to payout its members and prolong its operation.
In the article they discuss how dubious their claims are in regards to their “volatility software” or their “Mining activities” which cannot be verified to be real and how the business itself is not self
sustainable, since it needs new people to join in in order to keep the money flowing. As soon as
their affiliates stop promoting it, everything will start crashing down.
I’m not here to talk down Bitconnect, I just want to put the information out there so we can all
have a healthy discussion about it, and maybe alert some people of a possible collapse before they invest their hard eared money on it.
Link to the article:
https://news.bitcoin.com/cracks-appear-critics-label-bitconnect-ponzi-scheme/