Quote from: casparthefriendly on January 17, 2018, 12:05:15 PM

Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30.

This was inevitable, but as expected, it was pretty tragic. I was reading through the Bitconnect subreddit before the mods made it private. It's gut-wrenching. There are so many stories about people investing 5-6 figures, their life savings -- sometimes without their spouse's knowledge -- and dumping it into this scam.

It's also depressing to see that many of them have Stockholm Syndrome. Some are happy that Bitconnect liquidated their loans and credited back BCC at atrociously high prices (90% above market prices) even thought it was highway robbery. Lots of the bagholders still believe that the price can recover somehow, too.

Quote from: chiggz on January 17, 2018, 12:43:09 PM

Good riddance! Am I the only one who's not even remotely sympathetic? I mean just a little research would have shown a reasonable person that it was shady.

I don't feel bad for the operators or the MLM referral scammers. But from the look of some of those stories, some people will end up killing themselves over this. The amounts we're talking about today put the scams from the 2013 cycle to shame. The people who invested in BCC were reckless, but I definitely sympathize with their families now.