Re: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency
You are wrong that they didn't dump https://chainz.cryptoid.info/bcc/#!overview go look through the days of the crash to see Millions of BCC hitting the exchange. Those green candles you saw are them selling, and can be achieved by breaking all walls down to less than 10% of the price and then placing new, bigger sell walls for people to buy into.
Seeing a number on the screen means nothing, people thought that Zenpool was mining but it turned out to just be a script.
But there is no BCCX Block explorer, and there is no escrow so you don't know anything anyways.
Most likely scenario is that they just keep all the BTC and sell all the BCC that comes in for the ICO for more BTC once walls increase because it seems like a good deal to be able to buy BCC for $17 so that later on you can sell it for $150
Another nutty one. I already showed you the volume from coinmarketcap (which includes EVERY exchange combined). There was barely a few million $ in volume (meaning less than a million BCC was sold). They were all just panic sellers thinking the price would go to nothing. There was no volume before it to suggest any insider trading either.
Remember also that their internal exchange opened a couple of days later at the normal $200+ price. Many people who were waiting for it to open again sold for $200 instead of $30 at other exchanges.
The BitConnectX ICO is clearly selling out within seconds every day. The fact they were raking in $13million before on each round (selling 260k BCCX at $50 each) then the BCC offer (of $150 per BCC) means that on current prices they are losing well over $10 million each day if buyers are using BCC instead now (which shows how stupid your argument is that they were the ones dumping for a measly few million dollars and it's not as if they could do it secretly on the blockchain either).
On the day Bitconnect closed the lending they still were only offering to exchange BCC at $22 or whatever the market price was for the BitConnectX ICO but the next day they upped it to $150. So if they hadn't offered that price, they would be making over $10million more each day in the ICO (assuming most people don't use BTC any more for the ICO - as it would be pretty stupid to). They must know the BCC will go up to previous levels again. Don't you see how your argument doesn't make sense (I know I haven't explained it very well but it seems obvious they haven't cheated anyone - they can't control users dumping the coins after releasing them all)
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That is true if they are really selling BCCX coin with $150 BCC. I am not convinced they are selling any. Has anyone truly bought any BCCX coins with BCC coins from Jan 20 onwards? It is possible that they are prioritizing BCCX sales to other currencies like LTC and BTC. I had LTC and I was able to buy BCCX coins very easily but not any using BCC coins for payment. The time outs without confirmation do not make sense as when I made purchases using full BCC value of $290 before 17 Jan using BCC before the nose dive one time I missed the purchase on reset time but I never got a timeout, it came back and said try again tomorrow all sales made for the day. I doubt they are losing any money due to BCC sales at $150, they are not happening.
So all 260k are from BTC purchases? Why would anyone buy it with BTC or other coins if it's cheaper with BCC? They never failed to sell out quickly.
Where did you show me the volume of Coinmarketcap? I'm looking at it right now and it shows that selling occurred all the way from the 26th to the 17th.
I understand that you are trying to defend this, but you are really proving my point.
There isn't enough volume to be able to sell ALL the millions of BCC. The offer means that they can just keep the BTC (or LTC, whatever), and can sell more coins now because people *think* that it's a good to use BTC, to buy their BCC they are selling on the exchange by providing buy walls to sell into. There is no escrow to handle the ICO, no BCCX blockexplorer (as far as I can tell) and all statistics are on their site which is literally just text on the screen. What guarantee is there that people aren't just rebuying the same BCC over and over?