Is Bitconnect dead? Lets admit it was a ponzi all along. Sometimes market crashes are healthy
One of the things I remember seeing when I first joined steemit was being disappointed to see a lot of posts shilling Bitconnect which even then was widely believe to be a ponzi scheme. Today we may be finally witnessing the ponzi scheme imploding.
Bitconnect seems to be dead as you'll see if you follow the link below.
The price has also dropped 90% and is currently near $20 today: 
I commented about BCC being a ponzi scheme on several threads both on posts where it was being shilled, and on posts where people were (probably intentionally) misusing it as a ticker for BCH. From example: here and here
Unfortunately, the reality is that when the market is only going up, ponzi schemes are self-sustaining. The only time that scam coins and ponzi schemes are exposed is during market crashes. While those of us who are hodling a lot of our net worth in crypto may be sad today, we should all remember that events like this are actually healthy for the ecosystem as a whole.
The scam/shitcoins rarely survive major corrections while the strong coins will emerge even stronger, whether it takes 2 months or two years. The impatient, weak handed, get rich quick investors will disappear and the crypto scene as a whole will be a better place
Finally let me end with a big FU to all the youtube/reddit/steemian shills who tried to feed this MLM/Ponzi bullshit to new investors.
RIP bitconnect and RIP all believers, including myself.
Luckily I only invested what I was prepared to lose.
Bitconnect was the example for all lending-platforms.
This Bitconnect scam makes other lending platforms lose all credibility in my opinion,
so I'm afraid we won't see any platform take over unless the platform explains why it could be sustainable.
Anyway I don't see it happening, feels bad.
Yeah, I'm concerned that SALT will suffer a similar fate (although I don't think SALT is a scam/ponzi like BCC).
I agree that sometimes markets crashes are necessary, in order to flush out weak industry players. The companies that emerge unscathed from a market crash will then move on strongly.