RE: Bitconnect Ponzi could come to an end soon! The SEC is onto them!
I think this is great article detailing the absurd returns that are to be expected from Bitconnect with a $50k *investment*. We are going to have a repeat of BitPetitie, but we just don't know when.
I do wonder if there must be some form of cognitive dissonance happening here that is exploited by greed. I really do think the people seeking to make the most from this operation (e.g., those who you see in the YouTube ads, etc.) know that it will belly up sooner or later, but I suspect it doesn't matter to them.
Not to reiterate what was in the article but I think it comes down:
| Pros | Cons |
|---|---|
| Financial freedom if you get in and out quickly | Non-transparent business practices |
| Preferential Economics* |
*Those who got in early stand to get a better deal out of this scheme than those who are joining now.
What are everyone else's thoughts on the matter? What do you suspect that the exit strategies of BitConnect and similar copycats will be?