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The Bitconnect Bloodbath

The Bitconnect Bloodbath.  The losses are mounting in terms of dollars and lives.

$316,832,344.90. That’s the tally among the nearly 900 people who registered their losses on Bitcoin-Guerillas.com as of today. The Bitconnect bloodbath doesn’t stop there; the human toll could be even higher.  While unconfirmed, it seems the first Bitconnect suicide recently occurred with a young Chinese man jumping off of a bridge. The video can be seen right here (WARNING: EXTREMELY GRAPHIC):

What can be confirmed are the suicidal thoughts of many people across Facebook and Reddit groups leading to the widespread posting of suicide hotline phone numbers.  Many people, while not suicidal, are understandably depressed in the aftermath of The Bitconnect Bloodbath like this poor chap facing ruined wedding plans…

the bitconnect bloodbath

While many people are sympathetic to Bitconnect victims, there are just as many who show no compassion for the people who had their lives turned upside down by The Bitconnect Bloodbath.  When I first learned about Bitconnect my impression of the whole thing wasn’t good so I avoided it.  Other people who lacked the insight or the intelligence dove in to claim their fortune having no idea what they were in for.  Yet others believed Bitconnect to be a ponzi scheme at the outset but didn’t care; they wanted to claim their own fortune.

Were the victims greedy? Most of them probably were to one degree or another. Were they gullible? Yes in many cases.  But did they deserve to be driven to the brink of madness? Or bankruptcy? Certainly not.  The Bitconnect bloodbath is the result of just another confidence scheme. Lures of riches and get-rich-quick has haunted human history since the dawn of time.

Now is not the time for ridicule or condemnation of victims of the Bitconnect bloodbath.  Now is the time for community unity in the cryptocoin community in educating, inspiring and guiding.  Let’s share our collective wisdom and experience so all of our boats rise.