Bitconnect Website offline
If you have followed me for awhile you know my feelings on Bitconnect. Basically it's a site that promises unsustainably high ROI. They also lock in funds for 300 days and run a MLM scheme to get new users(money) into the system. It thrives on people's greed by promising easy money. Did I mention the owners aren't known and that it's run in Thailand conveniently out of US jurisdictional law? All signs point to a ponzi and most of it's investors know it.
Then this happened tonight:
What's going on?
I've read user reports that withdrawals were being locked and then eventually the site went offline. Some users are speculating that it's a ddos attempt while others are saying the ponzi has run dry. In any case, holders of the BCC token don't want to be left with heavy bags and are panic selling.
Will it come back?
Personally I thought it was going to be a year or two before the ponzi collapsed on itself. The long lock in period and the popularity of the site made me think the scam would sustain longer. I guess we will have to wait and see.
What are your thoughts?