I wish to congratulate BCC company and its management for taking such a sudden decision and action of shut down BCC lending and BCC exchange.
Infact , the idea behind it was very good , but it could have been planned and executed in highly professional way.
BCC was paying huge monthly interest on lending loans since last 2 years. Due to this monthly outflow of cash ( Lending Interest ) was huge , which company was not in position to pay.
Above closure has portrayed BCC as insolvent and Scam company worldwide.
But the best course of action for company was in these 3 steps :-
First – Stopping of taking new lending loans.
Second – Stopping of Reinvestment of Lending income ( in $ ).
Third – Repayment of lending loans in phased manner example on maturity date . Once loan maturity date over it should be withdrawn by the investor
These steps and execution would definitely have eject company out from financial crunch in 4-6 months. The best benefit /consequence of above action would have been –
a) BCC company would not have become a bad company in eyes of investors world wide.
b) BCC has lost its credit worldwide in all crypto exchanges and among investors.
c) BCC company would have paid investors Principal amount in Dollars and Bitcoins in phased
and planned manner.
d) Worldwide investors Total Principal Capital ( Total Lending amount ) to the tune of INR 12000- 15000 crores has been paid without much financial pressure on company.
e) BCC company itself has lost INR 30000 – 36000 Crores by sudden stop of lending and exchange.
f) BCC could have taken its price to 750 -1000 $ plus per 1 BCC coin as its image and credit earlier was superb ( before these ridiculous action of sudden closure of 17th Jan .2018 )
g) The closure action would surely effect Bitconnect X ICO badly.
BCC has re started its BCC Exchange Agaiin , as damage control exercise .
But , now BCC company must take some fast and healty action/s to safeguard and reinstate trust of investors in BCC world wide , which has collapsed ( BCC 1 coin rate has dropped from 363 – 443 $ to almost 23 -43 $ per coin )
Thanks and Regards,