The future of this project is very dim.

YET AGAIN (for the 4th or 5th time now?) John Gotts changed plans after Stan Larimer (the Godfather of Bitshares himself) called him out for token theft on Bitshares. He has decided to halt all trading and is “promising” to do a 1:1 token swap once the EOS chain is launched. Until then no one is allowed to trade the BCL tokens...  

He has done everything in his power to control absolutely everything about BCL down to pulling funds out of other’s wallets because he feels entitled to ALL BCL TOKENS! Yes... John Gotts believes BCL is his gift to the world and also believes he can take them away from you if he deems it so. He’s judge, jury and executioner of this platform. In his view, THE BCL YOU HOLD IS NOT YOUR PROPERTY!

It also seems a lot of the miners were left out in the cold and weren’t provided the tokens on Bitsharesas promised after the “final swap” he promised last week. Sadly... mined coins not on Bitshares cannot be traded at the moment and unfortunately have no value (unless John almighty reopens trading again and decides to provide you the tokens on Bitshares which I highly doubt considering he’s an easily offended bloke).

The point here is... this project is dead. It has lost all credibility at this point because of its totalitarian leadership (aka John Gotts... and ONLY John Gotts).

To enumerate:

- The project has NO CTO AT THE MOMENT. He was fired and blamed for the Ethereum chain fiasco (which was totally and easily fixable I might add).

- All differing views or unsavory inquiries are actively repressed on the open channels of communication with the team by John Gotts and his team has been instructed to do the same. If you visit the Telegram to ask about anything happening here in BCT you will be immediately banned...

- Stan Larimer, once an advisor to the project, reported team members aren’t even allowed to raise questions about John’s decisions and are often fired on that basis alone!

- Promises by the team are often broken. From Airdrops, atomic swaps of mined coins to mined coins swaps to make up for it... it is constant and moreover: EXPECTED at this point.

-So far BITCOIN Latina (never had any relationship to Bitcoin tech BTW) has ABANDONED 2 incarnations already: The original Ethereum based blockchain (which is still running but has been abandoned by the BCL team) and Bitshares.

- John Gotts has blocked all trading of BCL on Bitshares after the falling out with Stan Larimer (again... more pettiness).

- John Gotts personally STOLE MILLIONS OF TOKENS from many of his adviser’s wallets including Stan Larimer and Jared Rice all because he wasn’t happy with how some of them were selling those tokens on Bitshares after expressly giving some of them coins with the expectation that they would be sold!

Here is Stan Larimer of Bitshares speaking about his experience with the project and the entire mess. The BCL conversation begins around 37:30:
https://youtu.be/TdV23-10ZKE


- John has openly attempted to manipulate the coin in every way imaginable. Believe me... if there’s a way to screw over the project supporters John Gotts has done it!!!! This is exhaustively documented (he’s ballsy enough to do all this in the open and admits to it).

- Jared Rice’s Bitshares wallet is actively monitored by the SEC and it is unclear if this will cause deep scrutiny of the Project... hence it is highly doubtful this project will ever be compliant due to the blatant and well documented improprieties committed by this man!    

- The EOS team is aware of all these events and does not plan to actively support Bitcoin Latina once it develops its project based on the platform (if it ever does...).


Do you need any more red flags?

STEER AWAY FROM THIS TOXIC MADNESS! DO NOT INVEST ANYMORE TIME OR HARD EARNED FUNDS IN THIS PROJECT.

I do not believe this is a scam... however, this project has been run to the ground by the same person who created it. NOBODY has benefited from this project in any way shape or form but John and whoever he has given the blessing to do so.

Again... STAY AWAY!!!!!

The swap is legitimate as no one has reported not receiving their coins in Bitshares. Some even reported receiving extra coins with it.

The real problem though is the swap may end as of Monday which means you wouldn’t be able to swap anymore mined coins until the EOS launch.

The timeline right now depends on block.one releasing their source code which probably won’t happen until EOS launches its own blockchain in the summer. So realistically you could be sitting on those mined coins for an indefinite amount of months before you could exchange them anywhere.

The team has a meeting today at noon EST and will be discussing this but based on the fact that this was announced by John Gotts I’d say it’s almost a sure thing.

Miner beware!

The team is discussing phasing out the swap into Bitshares as early as Monday to avoid miners from dumping coins often. They want miners to hold off from selling until the EOS chain swap starts happening some time during the summer.

BCL has 2 unrelated coins at the moment: The mined coins in the ETH based blockchain and the tokens issued within Bitshares.

At this time the ONLY way to get mined coins on the Bitshares exchange is through manual swap by sending your coins to the BCL team and them issuing you coins on the Bitshares platform from their tokens. This option may end as early as Monday. If so, no further mined coins will be swapped by the team into Bitshares until the EOS launch. This is to force “short term” miners away from the project and to keep those miners interested in becoming witnesses after the EOS blockchain launch.
 
A few facts:
-John Gotts issues coins at will on Bitshares and DOES NOT need miners to do this. (He does this often also).
-John Gotts’ wallet account on Bitshares is named Satoshi-Wagyu. Its activity is available openly on the Bitshares chain. https://wallet.bitshares.org/#/account/satoshi-wagyu
-The ETH blockchain is phased out and is more a headache than anything to the BCL team at this point.
-It’s unlikely the atomic swaps on Bitshares for the ETH blockchain will ever take place anymore based on current events.

Mine this coin at your own risk!

Apologies. I assumed he had left the team since he’s no longer listed on your ANN or on your site after still being listed early yesterday.

That’s probably old speak from their ETH blockchain period before the current roadmap. They’re moving everything over to EOS so all ETH will be abandoned including the current blockchain they put in place.

At the moment the ONLY way to make mined BCL tradable is to send them to the CEO (John Gotts) directly so he can manually provide pre-mined coins on Bitshares. He is doing this because he believes miners will flood the market and drive the price even lower so he wants full control of how many mined coins reach Bitshares.

Upon questioning how many mined coins he would allow per miner I was banned from the Telegram and  was also told I was unwelcome as I wanted to “vomit” the market with my coins.

Their CTO quit yesterday morning so, I’m not even sure how they intend to get any of this done to be honest.

Pre-Mine was for 1 Billion coins... they’re the only tradable coins right now on Bitshares.


Nope. You are not. Only Premined coins are trading at the moment. The team has not devised a way to move mined coins onto Bitshares yet. They stated a way would be devised today but still no word.

Editaré actualizado de situación BCL:

- John ha dicho que no quiere mineros envueltos en la organización y por ende no le interesa que que se siga extrayendo. <—- esto aun no ha sido desmentido de su parte or por su portavoz. 

- También  quiere manipular el precio de la moneda a su conveniencia y se enoja cuando mineros hacen ventas debajo del precio que quiere mantener aun cuando se ven obligados a hacerlo para cubrir sus gastos. Por ellos ha dicho abiertamente que le interesa atraer inversionistas que compren estas monedas extraídas por mineros a precios bajos para así forzarlos fuera del mercado. <—- esto aun no ha sido desmentido por su parte o su portavoz.

- Han borrado su canal de Discord luego de serias críticas y preocupaciones por parte de los mineros afectados.
 
- Han suspendido a todos los que hayan disentido o hecho cualquier tipo de critica en contra de la opinion de John. Desde entonces el equipo de trabajo ha permitido una mejor comunicación. La gran mayoría de las suspensiones han sido revertidas con algunas excepciones.

- Uno de los tres operadores de grupos de mineros ha sido suspendido de todos los canales de comunicación  por criticar las acciones recientes del equipo contras sus propios mineros y el cambio drástico en dirección de PoW a dPOS. Léase la nota en el enumerado anterior.
 
- Se han pre-extraído cerca de un billon de monedas sin ayuda de los mineros y estas son las únicas intercambiables por el momento. Hay planes de abrir un gateway en Bitshares pero aun no hay fecha de apertura.

- Ante la venta de monedas por parte de mineros de BCL en Bitshares y la baja en precio gracias a la falta de interés en comprarlas John ha decidido movilizar el proyecto a EOS en vez de mantenerlo como un derivado de Ethereum. Esto haría las monedas ya extraídas pierdan todo valor. No se ha delineado un plan que aborde como estas monedas serian tratadas a la hora de que empiece el nuevo blockchain.

- Constantemente suspenden y borran comentarios de personas que vayan contra la opinion general del equipo creando una burbuja en la discusión en Telegram. La situación ha mejorado sustancialmente. Se han censurado mucho menos las conversaciones en el Telegram

- No hay fecha prevista para permitir que mineros puedan depositar sus fondos a ninguna plataforma de intercambio lo cual hace cuesta arriba continuar haciéndolo y pone en riesgo el funcionamiento a largo plazo del blockchain de Bitcoin Latina. Esto sigue siendo cierto.

Ante todo esto, exhortamos cautela invirtiendo en la moneda puesto que aun quedan muchas interrogantes por responder.