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RE: Texas state securities serves Bitconnect an emergency cease & desist order
@geneeverett you have no idea what you're talking about. A ponzi would suggest they need new money to come in to payout their current members which is not true. Bitconnect makes money multiple ways - 1. their trading volatility bot 2. off the value of bitcoin rising 3. their own bcc coin
Not to mention they are making money off each transaction on their platform.
and I agree with socky - the government is controlled by the elites and they want to keep you out of the loop so they can stay in control. that outdated 1933 law is just one example! I ran into similar issue even trying to invest into local businesses here. They limit the amount you can invest each year based off your income!
@crayrayc "A ponzi would suggest they need new money to come in to payout their current members which is not true"
That would be why they are launching an ICO to generate millions of dollars and not even telling investors what they are investing in?
"the government is controlled by the elites and they want to keep you out of the loop so they can stay in control"
That statement is 100% true though.
no, i don't think their ico is a scam. they're attempting to add alot of things in their roadmap. instead of introducing a lot of potential security issues on their existing platform, I think they will accomplish it via their new coin. For example they want to support a lot more altcoins, and even exchange directly via fiat. A new ico just make sense in many ways in contrast to doing all these changes to existing platform. It's also another revenue stream to their already lucrative system!