Grayscale Bitcoin Trust (GBTC)

[rjunior79]

Bitconnect comes crashing down...sorry to say but this boat is headed down...
Bitconnect was a US$1 billion+ Ponzi scheme that thrived on two things:

1. A rising Bitcoin price to gather attention
2. New investors to continue pumping in money

By creating their own coin (Bitconnect Coin or BCC) they created an artificial market by making people buy BCC with Bitcoin in order to lend BCC back to their "lending platform" to generate all the crazy returns that you've heard all about. Now the joke is on everyone who stayed in Bitconnect up to today because they have announced they are shutting down their exchange and lending platforms and "transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD" - this is the "out" they always knew they had and hence why created an artificial market for their BCC coin which should have been called Ponzi Coin. Now everyone who was "lending" money through Bitconnect is stuck with BCC coins which are NOT Bitcoins, and in all likelihood BCCs are completely worthless now because there is no demand for them. Only supply. This is how a Ponzi scheme ends in the 2018 world