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RE: Bitconnect Day 4
Good question. I believe the picture is a bit more complex and bitconnect looses most of the comparisons. If your investment is high enough so that it generates enough interest to reinvest the situation is different and you should be able to gain profits from bcc.
after I've read more about it, my personal opinion is that it is a Ponzi scheme.
Some people say it is a scam, which i cannot confirm or deny. Although some interesting reading (some of it is not current anymore while some is just as current):
The BitConnect scam exposed
https://steemit.com/scam/@thegrinder/the-bitconnect-scam-exposed
and another one i've seen:
Bitconnect SCAM with PROOF
https://steemit.com/bitcoin/@jenny143/bitconnect-scam-with-proof
But can you make money in a pyramid (Ponzi scheme)?
Yes, of course people can do it until it collapses.
Will it collapse?
In my personal opinion it certainly will.
I like a quote I've read somewhere but i cannot recall where, which resonated with me how well-put it was:
"The only value of any pyramid is the belief that some fool will pay more than you did for it. In the end the last fool who will pay the highest price will no longer find a bigger fool. That is when Ponzi schemes collapse"
Anyway, hope it is working out for you well and you can at least pull your money out of it before it collapses.
Good luck!
Thank you for the links. I was reading some of these before placing my money there. I think they are the most stable investment program in the cryptospace for the time being. I can't see bitcoin dropping below 2.5k (ish) in the next few month with all these genesis mining contracts burning then...