Bitconnect: The Aftermath

Good laugh, ah? Some stupid people got conned by a ponzi because they took investing advice from a high school kid on YouTube. I'm literally shaking right now ... with laughter.

But look at what is happening, and what it means for the whole cryptospace. Reddit is full of people calling for government regulation of this market. And for the prosecution of Trevon James, Craig Grant et all.

This is just the excuse government has been waiting for to interfere in cryptocurrency.

This is bad for the whole space. Bitcoin was founded to be a currency which didn't need the state. Now lots of dumb people who fell for a scam are calling for the state. "Mummy state, mummy state. These bad guys did bad things to me." Yeah. And we will all be affected by this.