Published on : 2017-05-27 03:42:35

While the platform says they’re refunding all outstanding loans at a rate of $363. Many in the cryptocurrency community have openly accused Bitconnnect of running a Ponzi scheme, including Ethereum founder Vitalik Buterin. All Bitconnect loans were denominated in U bitcoin volatility software bitconnect. In the last The token has plummeted more than 80% to about $37, down from over $200 just a few hours ago. The requirement of having BCC to participate in the lending program led to a natural spike in demand (and price) of BCC. We offer financial services to everyone; we do not require identification of company clients about their gender, age or country of residence. S dollars but had to be made in BCC, the platform’s native cryptocurrency. But Bitconnect’s promise (and payment) of outsized and guaranteed returns led many to believe it was a ponzi scheme that was paying out existing loan interest with newly pledged loans.

Bitconnect also had a thriving multi-level referral feature, which also made it somewhat akin to a pyramid scheme with thousands of social media users trying to drive signups using their referral code. So in order to make a loan users would have to deposit bitcoin into the platform then exchange it for BCC at whatever the market rate was. If you aren’t familiar with the platform, Bitconnect was an anonymously-run site where users could loan their cryptocurrency to the company in exchange for outsized returns depending on how long the loan was for. And loan interest and principal was also only paid out only in BCC, meaning users would have to convert it back to bitcoin (and then if desired, USD) after the loan term was finished. In less than a year the currency went from being worth less than a dollar (with a market cap in the millions) to a all-time high of ~$430 bitcoin volatility software bitconnect. The platform said it generated returns for users using Bitconnnect’s trading bot and “volatility trading software”, which usually averaged around 1% per day. The company did say that the ICO for their Bitconnect X trading platform will still happen, and that trading for the BCC token will continue there. By registering an account on Santa Coin website and investing with the company at his own risk, client should be aware that previous financial results do not guarantee similar returns in the future.

But now with no other uses for the token, it’s likely that the price will continue to plummet. Below is the chart that would determine how much users would make the using the platform. For example, a $10,000 loan for 180 days would purportedly give you ~40% returns each month, with a.Zcash.
. The platform was powered by a token called BCC (not to be confused with BCH, or Bitcoin Cash), which is essentially useless now that the trading platform has shut down. Of course profiting from market fluctuations and volatility is a legitimate trading strategy, and one used by many hedge funds and institutional traders. Disclaimer: Santa Coin offers a relatively safe investment and guarantees the high quality of its services. You transfer your deposit of management of the company and agree that these funds will be used at the discretion of Santa Coin management. .


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