BitConnect (BCC)
From CryptoWiki
| Type | Ponzi Scheme |
|---|---|
| Ticker symbol | BCC |
| Consensus mechanism | Leased PoS |
| Total supply | 28.000.000 BCC |
Basics
- Was outed as a ponzi scheme and the entire project dissolved. Law enforcement in multiple jurisdictions is currently pursuing the orchestrators.
- Bitconnect claims to offer a guaranteed return on investment if you ‘stake’ your BCC for at least 15 days. There is no whitepaper and the way it functions is completely opaque. The obvious answer to how they’re able to continually offer guaranteed returns is that the whole thing is a pyramid scheme. As with any pyramid scheme, if you’re in early enough you can make money. Miss the boat and you will undoubtedly lose it all when it collapses.
- Leased PoS (functions similarly to PoS except users can ‘lease’ their currency to nodes for profit)
- Had an ICO from 15-11-2016 till 31-12-2016 which distributed 4.8 million coins.
