Originally posted by Jog On
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Why? I am not interesting in touching this tulip, I am just making obvious projection of what the future holds for this tulip and its hodlers.
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"BitConnect Founder Sued as SEC Alleges $2 Billion Crypto Scheme
Federal regulators sued the founder of BitConnect, a cryptocurrency exchange platform, for fraudulently raising more than $2 billion from investors in an offering that wasn’t registered with the U.S. Securities and Exchange Commission.
The SEC sued founder Satish Kumbhani, 35, and Glenn Arcaro, a promoter, for improperly selling securities tied to the company’s purported “lending program” for about a year starting in January 2017, according to a Wednesday complaint filed in federal court in New York. BitConnect falsely told investors that it could generate monthly returns as high as 40% with its proprietary “volatility software trading bot” when no such strategy existed, according to the SEC.
The regulator sued five BitConnect promoters in May for their roles in promoting the scheme by creating testimonials on YouTube, sometimes multiple times a day. The promoters received commissions based on their success in attracting investor cash. Arcaro and a company he controls received more than $24 million in referral commissions.
BitConnect closed its exchange in January 2018 after receiving two cease-and-desist letters from state authorities for the unauthorized sale of securities and suffering from denial-of-service attacks.
The SEC has been sounding the alarm over initial coin offerings for years, arguing that the sales are likely securities that must comply with federal rules. The regulator has warned individual investors of the risks in buying the tokens, cautioning that scammers might be using them to lure investors into frauds."
https://www.bloomberg.com/news/artic...-crypto-scheme
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AtW, you should buy Bitcoin. It would be a win-win. Here's why.
If it crashes and burns, you'll lose money but you will have been totally vindicated.
If it goes to $500k, you'll be cross about it but you'll have multiplied your money 10-fold.
Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.Comment
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He clearly loves it. He contributes the majority of the posts in this thread after all. He's obsessed.Originally posted by DealorNoDeal View Post
I see BTC pokes its head above $50k over the weekend. After the obvious breakout and not unsurprising fall-back, I wonder if it will stay above $50k or not - quite an important signal.
Originally posted by MaryPoppinsOriginally posted by vetranComment
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So you can now buy Crypto via your PayPal account.
Bitcoin
Bitcoin Cash
Etherium
Litecoin
Buy direct from your PayPal account. Paypal take a service fee based on the purchase value.
No wallets, no keys, no accounts on trading sites etc. Crypto stays in your PayPal account. Paypal indemnify against any losses from theft.
No ability to pay for stuff with it yet but makes it very easy for punters to buy and sell in a familiar setting.
"Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Crypto is only an investment these days not a currency, the days when someone pays for a coffee with Bitcoin are never coming backOriginally posted by DaveB View PostOriginally posted by Stevie Wonder BoyComment
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Agree on the buying a coffee level of use but it could make sense for PayPal to enable Crypto as payment for online purchases etc. International purchases and fund transfers without currency fees would be the obvious uses.Originally posted by SimonMac View Post"Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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First Law of Contracting: Only the strong surviveComment
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Crypto is having a fun week or two.
I'm sure I would be substantially richer if I wrote a "Big Red Button" script that sold off all my holdings anytime there's a big red candle.
I know I would be richer if I resisted the urge to sell when things are plunging
Originally posted by MaryPoppinsOriginally posted by vetranComment
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