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RE: IS BITCONNECT A SCAM!? INTERVIEW WITH @JACOBCARDS - Crypto Nights Episode #15
Andreas Antonopolous put it nicely
Does it promise regular returns that exceed average market returns?
Andreas M. Antonopoulos (@aantonop) December 1, 2017
It's a Ponzi
Does it focus more on recruiting new people than any product?
It's a pyramid scheme#litmustests
@korynewton great post - huge fan of Andreas!
I have said in the past that it is a "Ponzi, pyramid, High-yield investment program (HYIP) hybrid with elements of a REAL cryptocurrency and exchange overlaid."
If they didn't have the cryptocurrency to back them up they would have no recourse. The fact that you have to BUY their token every time you do anything on their site keeps the price afloat, along with artificial manipulation of their markets.