Money is encircled history on most controller of Asia of Bitconnect of fraud of the family name that amount to Pang was in Xin Deli airport to be arrested by Indian police on August 18.
Money encircles legend fraud
Bitconnect (abbreviate: BCC) the hoax of the famousest high income Pang in circle of money be consideringed as, its occurrence brings about bit money ready money (Bitcoin Cash) be forced to change abbreviation undertake distinguishing with its thereby for BCH.
Bitconnect the fictitious money that through issueing a kind the name is BCC, began to go up in December 2016 line, swarm into a large number of capital, this project held seminar, road to act wait for a variety of acquisition, and the redound to investor acceptance high specified number, lead investor uses bit money (BTC) the BCC token that exchanges them, this project is caused for a time in India change campaign without money. In November 2016, indian government spends the 500 soft moneys with 1000 rupee, try to prevent the black Qian Liu on the market to connect. During this, bitconnect gains fame in Indian investor, a large number of capital are attracted in digital asset, use the desire of investor gain, revulsive a large number of investor trade bit money BCC to undertake " investment " .
This project acceptance gives investor day interest rate 1% , and capital will break up 100 days every times, so-called " invest 10 thousand U.S. dollors, float accrual ＋ secures profit everyday 0.25% , 3 months are answered this " , have fixed time.
Since be being issued from the money, of Bitconnect mutiple level pass selling a structure to make a person suspect is Pang fraud. God of V of aether lane author is ground of call a spade a spade points out this is a fraud more. But Bitconnect price did not suffer an effect not only, still achieved the history in December 2017 the most exalted 463 dollars.
However in January 2018 portion, the price of this token falls to 37 dollars from the 200 much dollars a few hours ago, drop more than 80% .
Bitconnect stops advice note in what got two big cities of American in January 2018 eventually, closed the exchange below the banner at the same time, at this moment the BCC that investor discovers their hold is many already nowhere undersell.
Perfect storm
So absurd project can sweep across so much to capital and social environment are driven aeriformly and do not have a relation, all good luck and commitment are very significant, broad acceptance, rich and generous redound, huge increase, large conference.
The period that seems despair sees in this, person psychology always is met the tendency those often won't credulous thing, when ego acknowledge is pounded all judgement can become slow. By 2016, indian government declares abolish par value 500 with 1000 ruble soft, this is abolished with 50 yuan of RMBs with respect to 100 yuan when be equivalent to us same. Indian economy is original not quite stable, abandoning the arrival of bank note policy to be able to say is one disaster after another, once the government order of premier Moody is announced, point to steep fall, the panic that the incident such as cash shortage and bank a run on a bank caused the people.
Bitconnect used this just about, the government is OK temporarily be seized by a whim is privative the people's asset, so why does the people trade capital fund into paper currency issued by the reactionary KMT government from 1935 onwards even? But they did not choose bit money, turned to Bitconnect however, mere because its are affirmatory permanent redound.
Writer brief summary
The devil of production fraud is won't without foundation appears, often be to using a society not to stabilize an element, capture the one side with people flimsy panic to undertake revulsive.
Do you think what is the element of production fraud? Welcome each reader to share him view.
