98.56% of the trade volume is done on their own exchange which is a huge red flag.
That's absolutely shocking. It's this sort of thing that gives crypto a bad name amongst the wider public. There is so much money-grabbing now. Regulation is necessary anyway if we're going to have mainstream adoption, but the sooner it comes the better if it weeds out coins like this.
Regulations could posibbly mean that you will loose your anonymity during transactions or whatever it is you're doing with your crypto, the govt will be able to track everyone. The anonymity is one of the core values of cryptocurrencies, and many people within the cryptocommunity take that matter very seriously. Regulations is a sensitive subject and shouldn't be taken lightly.
And about Bitconnect, yeah, finally the ponzi coin has started to collapse. Though i have to say that i'm surprised that it took so long for people to realize that this was just a ponzi scheme..