You are viewing a single comment's thread from:
RE: I just reported Bitconnect to The UK company Investigation service let's see what happens.
I don't need evidence I just pointed a finger look at this, It should be investigated.
Yeah you are right MLMs are not illegal in most countrys. Edited out MLM now.
For starters Bitconnect LTD looks like a shell company.
I have two other posts that I share my suspicions about this so look there.
I get that. It's appreciated too. I'm in the process of hiring investigators to verify my conclusions before I conclude whether or not they are legitimate. Despite all the red flags, everything does works as advertised. Including the security measures which do not have access to the most important information such as bank accounts. But if it is indeed a ponzi than it's completely possible that it is a Chinese hacking operation working out of Singapore. Hell, maybe even Russia since apparently UK was an important target market. This whole thing intrigues me because it must have taken a decent amount of investment to build this system which works completely as intended and appears to be completely legitimate.
But last week I searched through their UK corporate documents and it didn't hit me at first but I realized that they had no filings since registration. I don't know the laws in the U.K. but in the U.S. I have to follow strict filing guidelines for my corporations and if I don't I lose my corporate veils and they will shut me down. Our corporate system is built on English law so I'm betting it's the same there. The only legal reason I can think of for why there aren't any filings is they are in actuality a foreign corporation that filed in the UK so they could do business there however, there is no corporation filed for bitconnect in the U.S. meaning again that they are operating outside U.S. law. But again that is one of the major reasons crypto-currencies became popular and most are operating in this manner as well.
However, since the U.S. Patriot Act, it's pretty clear the government isn't going to sit back and do nothing forever. Conspiracy idiots in government suspect everyone as being a terrorist. The more I dig into this, the more I think that not only is it going to shut down, but some of the big people involved are going to have government agencies knocking on their doors investigating them. Either that or I could be completely wrong and a year from now they are still operating as advertised. Interesting situation. They have all the red flags of a shady operation but still look and operate as a completely legitimate operation. Pretty advanced if it's a ponzi.
Address is an apartment:
http://thepanorama-ashford.com/location.php
Incorporation Info:
https://beta.companieshouse.gov.uk/company/10278342
Yeah i igree but the things with pyramid schemes is that the tend to work as long as the account balances grow of the Pyramid owners when its starts to balance out they exit.
You get money out untill you dont.
Yes this is probably a shell company i think there is i reason why most promotions is in Asia.
The little UK law i know, you have to report any income/holdings after a year.
Uk Crypto tax seems to be like every normal currancy there.
Take a look at these made them some time ago.
https://steemit.com/cryptocurrency/@debugger/why-bitconnect-is-a-scam
https://steemit.com/cryptocurrency/@debugger/who-is-the-real-owner-of-bitconnect
Btw, I actually pulled a credit report on them not even a phone number registered anywhere
I actually don't even care if they aren't in compliance with tax laws. The only reason it matters to me is because so many other things about them seem sketchy. But the greedy deep state tax system siphons so much money from businesses for their wars I actually applaud them for operating outside the system. I hope they are legitimate and really do have software that is so accurate. Because I'm sick of traders telling me they don't provide service to my state because it's too costly. This government has an endless appetite. So fuck em. I did notice two days ago that an error message popped up stating that loans were not being allowed for X amount of time (timer countdown) because Volatility was outside of 10% perimeters. This actually makes sense because at that time the BTC was dropping and volatility really was over 10%. So that was something I didn't expect.
