The Merkle promotes BitConnect despite Texas cease and desist
The Merkle was founded in 2014 and covers ‘the latest crypto, finance, infosec and tech news‘.
The Merkle has a dedicated cryptocurrency news section and also includes a variety of educational articles relating to Bitcoin, you can find anything from how to make money with bitcoin to how to create your own cryptocurrency.
Learn about scams, malware, and ransomware in the education category and take a look at our comparisons and reviews of popular wallets, exchanges, and other services in the cryptocurrency land.
Despite having a history of accurately reporting on MLM cryptocurrency fraud, when it comes to BitConnect evidently The Merkle has blinders on.
In what can only be described as an advertisement for Ponzi fraud, hours after Texas issued BitConnect with a securities fraud cease and desist, The Merkle published “The Ultimate HODL – BitConnect (BCC)”.
“HODL” is a cryptocurrency in-joke and refers to the holding of a coin in favor of selling.
In the January 4th article, author Micah Miracle tempts The Merkle readers with “serious gains” through BitConnect investment.
In his The Merkle author bio, Miracle is described as a “long-time crypto-awareness advocate”.
For those unfamiliar with the company, BitConnect was the first Ponzi scheme to utilize the ICO lending model.
In a nutshell, BitConnect affiliates sign up and purchase BCC points from BitConnect’s owners or other BitConnect affiliates, primarily through an internal exchange.
Acquired BCC is then parked with the company on the promise of a ROI, paid out of subsequently invested funds.
Or as The Merkle’s Micah Miracle puts it, top BitConnect affiliates ‘have been raking in interest (and) laughing all the way to the bank‘.
It’s no joke. BitConnect is the real deal.
In order for BitConnect to be the real deal, evidence of external ROI revenue used to pay affiliates would have to be provided to the public.
As confirmed in the Texas Securities Board’s emergency cease and desist, no such evidence exists.
Rather than provide any to The Merkle readers, Miracle instead bases his assertion on BitConnect’s 400% rise since August 2017.
After which Miracle then instructs The Merkle readers on how they too can participate in Ponzi fraud.
Choosing the amount of Bitcoin (BTC) you want to lend and the schedule for the return of your capital is calculated for you, along with the interest rate, before you invest (a calculator is available on the site).
As an example, lending under a thousand bucks worth of BCC for 299 days will net you up to 40% per month in interest (accrued daily).
Higher amounts get the same variable interest rate, plus a daily accrual of .1 – .25% on the principal.
The Merkle is a moderated website with an editor and writing staff.
if you, like me, are holding-on-for-dear-life, waiting for the next doubling before you jeer (once again) at your nay-saying friends (with the all-too-familiar phrase, ‘I told you so’), go ahead and give Bitconnect (BCC) a try while you wait. You can thank me later.
How an ad for financial fraud wound up published for public consumption is a mystery… and one The Merkle readers aren’t happy about.
Are you seriously recommending a SCAM?
biconnect [sic] gains is a ponzi that only depends on more and more people getting conned and handing over their money to keep the ponzi going.
Are you kidding me??? A SCAM COIN. Bitconnect Slapped with Securities Emergency Cease and Desist Order.
AVOID LIKE THE PLAGUE .. CLASSIC PONZI SCHEME!
This cant be serious.
These guys just got hit with a cease & desist order. Google it (bitconnect cease and desist), it’s all over the web!
This is “bad news” in the most literal sense. I always support you guys, but seriously? Bitconnect?
JESUS CHRIST. THIS IS WAY OUT OF LINE. THE MERKLE YOU ARE A DISGRACE.
And to think I once liked this site…
bitconnect has finaly been exposed as a scam and everyone is desperate not to lose all their money in it. Including the writer of this article. Never trust TheMerkle again !!!
Wow. I had my doubts about this “news” outlet before, but have no doubts now.
TheMerkle is scraping the bottom of the barrel.
Looks like the writer bought into bitconnect and is scared he’ll loose all his money before the contracts expire, so he’s conning other people to get in.
Scattered in the comments are a few supportive efforts, mostly from BitConnect affiliates who are receiving daily “money” in their affiliate backoffice.
According to The Merkle’s Twitter profile, the publication is based out of California in the US.
As I write this The Merkle has yet to cover the Texas Securities Board’s issued cease and desist. How strange.
Update 5th January 2019 – As of sometime in the last hour The Merkle has removed the offending article. No explanation has surfaced yet.