Post
Topic
Board Announcements (Altcoins)
Re: [ANN][BCC] Bitconnect Coin - Decentralized Cryptocurrency
by
AGM76
on 28/01/2018, 01:11:13 UTC
That doesn't answer my question at all. I wasn't asking about BCC market price, I'm well aware of that. Suggesting that victims can make it up by buying the worthless tokens is dishonest at best and outright scammy at worst.

The question was:

Based on your claim that Bitconnect was financially solvent (even "had made lots of profits"), why didn't they refund their users in full?

Wanna give it another shot?

They returned BCC tokens to them so I think the users would first need to send the same amount back before they would sort out anything. I think those in the last two months would only have got back less than half so they could probably be compensated in BTC. You have to remember they are getting legal letters at the mo so can't do too much even if they wanted to. People are being advised to sell their coins (by the class action lawyers).

Again, that's not the question. Why did they return the worthless BCC tokens to begin with? Lending was guaranteed in USD. Why didn't they repay the actual USD value?

You're just posting pure speculation. Bitconnect haven't communicated anything of the sort. Again, why? Seems very very fishy for a financially solvent law-abiding business.

If everyone converted the interest or lending wallet amount at the same time, they would all get the same rate. Doesn't mean they can cash it all out without crashing the price. That's the same with any crypto. The value of a coin won't hold above half the value if just a small percentage is sold. To cancel the lending would obviously cause a crash so not sure what else they could have done. Because they made profits, they probably could compensate the recent loaners.

Remember the marketing for bitconnect said people were loaning them BCC not USD but it was actually the value of the coins at the time of the loan rather than the coins themselves (as I suppose all loans must have some value).