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RE: If Bitconnect is a Ponzi Scheme why isn't Bitcoin also?

in #freedom7 years ago (edited)

I guess some people like the high risk of trying to get actual profits out of Ponzi before it collapses. Not many I believe.

Bitconnect site will one day disappear and good luck trying to trade it on any other exchange with minimal volume. The price will be in single digits and under within days. My advice is that if you advertise this scheme, first put up a big warning that goes over every point in the link I provided you and why users should expect to see the service just disappear to thin air and their money along with it.

But hey,

  1. "The Guaranteed Return" is too good to be true
    First and most convincing argument.
    I just calculated that if you invest 10 000$ and reinvest every penny you get from your BitConnect income, with a 0.5% daily interest you would have 10 405 071 in 2 years.
    This is unrealistic and I do not think anyone would believe this is a "guaranteed return".
    As we say in finance, there is no free lunch. I only wish there was...

Sounds pretty good, let's all put our money down and wait 2 years so we can all be rich together, guaranteed by Bitconnect itself! Who they are, no one knows though ;)

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They don't guarantee that. Read their docs.