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RE: The BitConnect Whitepaper - Maths of a Ponzi
I use bitconnect and I know it is a ponzi scheme. It was clear when I started;by now I almost got my investment back, havent compounded at all. From next week I wont even care if they go bust or not and that will be the moment I will start compounding.
Anyway, if theyre going to achieve their roadmap objectives this month it will give them another boost; it is unsustainable though.
Although I use it, I do not promote it at all, I dont feel comfortable with that, it's one thing to gamble my money, different thing alltogether to tell a friend to put their money in; so I am at 0 refferals.
Thanks for the math. Too bad I havent held on to the bcc I initially purchased, that would have worked out way better for me.
" Yeah so I supported this ponzi scheme to get free money and I know people are gonna lose money but don't care about bag holders because I got my money".
That's why the justice system goes after ponzi schemes.
Suspension of ethics is just too easy for our brains.
Yeah I just realised it's way profitable to transfer all your earnings to bcc, and price is soaring now. I'm also going to stop in investing anything once my profit reaches the original investment. But I still have a month to go... :D
I'm almost there with getting my investment back; for about a week now I stopped taking the interest out as BTC and just kept it in BCC and with the soaring price that made quite a bit of difference. I have to be honest, the site being unavailable most of the day today made me feel a bit uneasy :D
Yeah.. the site will be down spontaneously. And no one even mention it on twitter or blog. Hmm I really wonder how long this scheme can last. :D