One of the biggest trending topic in the Crypto space right now is the fall of Bitconnect. Majority of its users including top promoters are left scratching their heads while many are demanding a refund for their money. Now the main question people are asking is "How do we get our money back?"
Unfortunately if you have sold your tokens at the crash rate then I have bad news for you. But for the many who held there tokens, there still might be hope. Firstly we should analyse the situation we are in. Yes i do say "we" as I myself have fallen victim to this. Taking responsibilities for our actions is definitely the first step. We have to understand that we were not forced to invest into anything, how ever we did take the risk and if you have invested more than you can afford to lose well then you definitely F****D up. But like i have stated above, there is still hope.
Many Bitconnect users have stated that what they did was an exit scam. You have to ask yourself, if Bitconnect did an exit scam then why is the site still up and why did they pay us with their BCC tokens instead of BTC. Although the communication was not transparent with its users, you have to try and put yourself in their shoes. This was not an exit scam by Bitconnect but it was definitely market manipulation.
Bitconnect knows their coins can reach high prices and this was seen as the price had reached all time highs in the $500 range. They have a supply that is close to the amount of bitcoins in supply (which is relatively low) and their transaction fees are low. I personally believe that Bitconnect is trying to become the next Bitcoin so holding your coins and hoping the price goes up is the best thing to do. If you were the many that sold their coins at the rate of 6$, unfortunately you have lost.
Now to answer the question "How to get your Bitconnect Money Back!", well there is actually a few ways but we must work together as a community in order for this to work.
Trading coins - Buy at a low rate and resell for a higher rate
Hodl your coins - hope the price goes up to resell in future
Stake your coins - This will enable the price to go up as the more people that stake their coins, the more demand goes up and supply of coins are reduced. I believe by staking the coins, you are paid a percentage which also reduces the supply and increases the demand (which drives the price up)
At this stage, these are our best option. I tried to write this article as unbiased as I can. Just like everyone I was also affected by the market manipulation by Bitconnect, how ever I do not believe it is an exit scam. Being angry about the situation and worrying will not help. Blaming top promoters will not help as they are also affected by this. How ever sticking strong as a community to try and drive the price of these coins back up definitely will help. Lastly, we must try and keep a positive outlook in order to gains positive results.
Thanks for taking the time to read,
3CC
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