For people hearing that Bitconnect is dead, well for better or worse I think that is mistaken. We have not heard the last from BCC, or the operating company Bitconnect.
Bitconnect continues to post announcements and attempts to make offers of intention to appease its lending platform users who were unceremoniously dismissed earlier this week.
Despite all doubts and exit scam taunts Bitconnect came out of the darkness and gave tokens to the lending platform users to "pay off" the debt on those outstanding loans. Admittedly that was poor payment since flooding the market without prior explanation caused FUD and massive sell off, but I wouldn't put it beyond their realm of expectation and perhaps they intended that so as to buy up more of their own token for what they anticipate as a meaningful new use case down the road.
I am speculating completely, there is no known use case for these other than as a cryptocurrency which of course is for many sufficient, but I am hoping and expecting that Bitconnect, who is not disappearing, will come up with some new innovation around token use case so as to build out the value of the crypto. Why would they go to that effort? Because they are self-serving and they have more of those tokens than anyone else.
Here is what we know:
There is at least a couple glimmers of hope for BCC token holders, at least holders who didnt panic sell them yesterday for $5.00 USD. If that's you I am sorry, Bitconnect handled this badly, maybe intentionally, but you do have to always remember to breath and explore before acting. I was fearful too, but I researched and learned and decided I was better not to sell, because of the old adage, if everyone is selling, you should be buying.
Now 24 hours later we know that Bitconnect came forward and announced something of an apology for sparking token devaluation with this post:
And they go further to explain that they will offer $150 USD value worth of trade in, for each BCC token, for the new BCCX token. Now who would want BCCX? Apparently lots of people, its daily sell limit was reached today within 2 minutes!
So maybe if you have BCC tokens you should try to get in on that ICO and switch your tokens. That's an option available to you anyways. I am not planning on doing that, but I don't doubt that ICO will be successful.
People who hate Bitconnect need to remember that there is a community of people who invest in this token, and who hold this token, and that is all a token needs to thrive. I wouldn't doubt if the BCC token was trading around $100 tomorrow, why? Because first of all people do want in on the BCCX ICO, and buying BCC for $100 will get you $150 in value toward the ICO, but more importantly because people have had a moment to breath and they can see that if Bitconnect wanted to really disappear with the value they would have, no ICO, no subsequent announcements, no paying out old loan debts with BCC tokens.
Here is the more detailed info from Bitconnect's recent post:
Conclusion:
I am not giving advice to you here, I am just talking out loud. Trying to inform people that there may be some hope for us holders of BCC token. I am not even endorsing Bitconnect the company, I think what they did here was likely intentional for their own financial gain, however, I am again remembering that there are people who were counting on that money and now, perhaps, they have an out.
I am holding BCC, I am hopeful about its return to higher values, I did even buy a little more. Call me a gambling man. But I mean it when I say, you should not buy any unless you like me believe that they will build value into that coin again, and that the community will stand by and wait for that to happen. Do not follow me blindly, listen and consider and take your own actions.
This is not financial advice, I am not an expert, I am just a guy talking about my interests on the internet.