RE: The ShitConnect Ponzi Train Can't Be Stopped (The Ugly Truth Inside)
@brianphobos That was an excellent post. I stumbled on it by mistake while I was exploring a serial comment spammer.
In the comments below, there is a lot about what will happen to Craig and Trevon, but what about Cryptogirl, who was all over BC until she vanished about a month ago?
Several people have mentioned that when this goes down, people will blame bitcoin and crash the market. Most people are smart enough to know that Shit-con-nect and Bitcoin are not related so I think the reaction will be more muted than a crash.
I agree that a decline in all crypto is likely to to be the immediate short term reaction. However, the aftermath would be of large numbers of alt-coin investors flocking to the perceived safety of Bitcoin. It may be a bad thing in the short run, but in the long run, less money will be invested in Alt coins and more in bitcoin.
I'd like to think bitconnect won't impact bitcoin, and maybe it won't, but you also have to think about the ramifications of a multibillion dollar pyramid scheme imploding that is linked to bitcoin. The outside observer doesn't know the difference between bitconnect or bitcoin, hell, most people think that blockchain IS bitcoin. These people, along with serious regulation from SEC will impact bitcoin, and all alt coins, greatly. Impeding new technology and advances.
Thanks for reading and yeah I didn't know a lot about cryptogirl but I saw some video a while back of a chick in Vietnam making a million / month or something. I don't know if that was the same person people refer to or not. The bigger the monster gets the worse the fallout is going to be but I don't really see it slowing down anytime soon unless they suddenly do the exit scam in fear that they are getting to big.
But if it gets up to 100 Billion or something and then exits it could cause a huge mess for sure.
Also another worry is that if that happens then governments could take that as some sort of excuse to step in and start regulating the industry more.
We just need to be self regulated and warn people and let them know what they are getting into and if they want to join then it is a casino gamble and that is how they have to treat it.
Actually there are lots of youtubers called Cryptogirl, and the one I am talking about was american or canadian. She did videos on shit-con-nect and loads of similar, and had countless followers from her affiliate links. Seemed she had invested large amounts with them, so she was always promoting them - several videos a day. Then suddenly almost all her videos vanished, and she has not been seen since. One post said her account had been hacked, but that’s not verified.