TradeSatoshi To Delist BitConnect Amid Indications of Comeback in Social Media

The BitConnect lending pyramid scheme started to indicate a return on social media, while the old BCC asset was scheduled for delisting on the last exchange supporting it.

BitConnect (BCC) is about to become a defunct digital asset, after being scheduled for delisting from the last market that supports it - the TradeSatoshi exchange.

https://twitter.com/TradeSatoshi/status/1027835265748877313

In less than a month, the last tokens would stop trading, with no price setting mechanism left for BCC. In the past, during the most active times of the pyramid scheme, BCC prices regularly increased, to achieve a constant supply of Bitcoin (BTC) income. It was the spectacular rise in BTC prices which allowed BitConnect to exist and survive for so long.

BitConnect required users to buy BCC tokens with BTC at an ever-increasing, artificially supported high price. Newcomers have paid for the dividends withdrawn by the earlier buyers, thus making the earnings similar to a Ponzi scheme.

The BitConnect project failed to relaunch in its BitConnectX incarnation, but now, there are indications that former leaders are trying to arrange a new scheme. The relaunch of BitConnect arrives at a time when one of its most vocal proponents, Trevon James, is set to testify before the US Securities and Exchange Commission.

While the BitConnectX ICO has not started trading anywhere, the Twitter account of the project has become active lately, inviting users to a Discord channel:

https://twitter.com/Sri66568147/status/1028889305710657536

The most important development for BCC is that, while being delisted from TradeSatoshi, it was listed on a new exchange - the previously unheard PalitanX exchange. Users on the Discord channel were urged to make orders on the new exchange in order to establish a price for BCC.

New crypto exchanges have been viewed with skepticism, chiefly for the possibility of manipulating volumes. The PalitanX marketplace may be instrumental to the return of the BitConnect project, and the gathering of the new community.

Another sign of a community effort was the call to upvote the TrevonJB Steemit account, which has seen its reputation plummet as it was punished and removed from the chance to accrue Steemit reputation. The BitConnect new Discord chat was organizing a highly efficient voting scheme on Steemit, ensuring that voters have high influence and high voting power.

In the past few days, the reputation of the TrevonJB account on Steemit has increased from 29 to 70, indicating a voting activity.

With renewed communication and promotions, the BItConnect scheme may manage to attract new backers, and cause losses by renewed pump-and-dump trading, as well as potentially another exit scheme.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.