I'm a little late on the Bitconnect 2.0 party. But, I am happy to say that it is being cancelled as I looked around on web for answers. In a twist of irony, I found my answer on a ``r/buttcoin`` thread. That place is amazing for those of you who want to keep your head out of cloud nine when it comes to crypto.
If you have ever watched ``That Martini Guy`` on YouTube, he gave a break down of Bitconnect 2.0. This includes who, what, when, etc. of the operation.
Here is a link to that video that I mentioned:
The thing that stood out most to me was that the supposed scammer has accounts on Steem. Some of them are @nioctib (which is Bitcoin spelled backwards) and @admiral.
On the surface, the content of those accounts seem original. Well, they are heaps of misinformation and blatant nonsense. They have not been active for a long time, but it bothers me that these type of guys are on Steem.
Speaking of Bitconnect, let's not forget about @trevonjb. He actually did make a statement about the 2.0. In short, even he tells you to stay the hell away from it.
You can watch his commentary on it after a crypto weather forecast:
The funniest, and saddest, thing about the whole ordeal is that people would still invest in it if it took off. Whether it is to recoup the losses or doing it for the memes, there would have been money pouring in there.
In short, is it the new scam? Oh yeah. Is it going to take off? I hope not. There needs to be less scams and shady stuff if cryptocurrency is ever going to take off. Let the recent @magicdice exit scam be another warning to everyone.
Reporting from BTCWires, Bitconnect, the dead crypto currency project has announced it came to life as Bitconnect 2.0. Through Twitter, Bitconnect said that the project will be launched on July 1, 2019. Bitconnect which also has a lending platform and crypto currency exchange was closed in January 2018. While the BitConnect Coin (BCC) crypto currency is considered a Ponzi scheme by most leading members in the crypto community.
Bitconnect promises 120% annual interest for BCC holders, which has sparked suspicion. This is clearly a scam because the company promises risk-free returns as a promise of a high-yield investment platform. The BCC value then fell 87% in 2018 and traded at US $ 30 from initially US $ 437 which then led to the closing of the loan platform and the exchange. They received a termination warning by the Texas State Securities Board and Secretary of the North Carolina State Securities Division for illegally selling securities and suffering from DDoS attacks.
Bitconnect was launched in 2016 to offer loans to lenders with interest. This loan platform exchanges BCC with Bitcoin. The lender is asked to maintain the number of coins for a period with a daily interest rate calculated at $ 0.25%. Controversial trade bots determine interest payments. The purpose of Bitconnect 2.0 has not been revealed and the website also does not provide information about the same thing. However, this announcement has not received a positive response from the crypto currency community. Some say the ijni project is back for fraud, and no one has to fall in love with him anymore.
Seems to me that it if a scam comes back with a 2.0 version, it is most probably also a scam.