Another Lending Platform Another Fall
Oh Lending Platforms
I’ve already talked about the Ponzi scemes in crypto in my first post, but Davorcoin seems to be falling apart already. The price of Davorcoin started going down when Bitconnect tanked and in recent days tanked from about $120 last week to $9.39 at the time of writing.
There are some very clear signs here of it falling apart. The interest rates are quite low just like Bitconnect in the weeks leading up to its crash. Also, the platform announced a $1,000,000 giveaway with 2nd and 3rd place winners also. To get an entry every day, you must put in at least $100 a day. They are doing this as a ploy to get more money either to run off with it or pay back investors. There will probably will be no giveaway.
All in all, the coin won’t have as much of an effect on the market like Bitconnect did, but will be a reminder to not invest into these empty investments.
Davor has 1-2 weeks maximum before it falls. Maybe some bitconnecters they joined it after bitconnect fell, will learn the lesson.
Yeah that sounds familiar...
I just can't imagine to what level of greenness people need to go to invest their lifesavings in such obvious ponzi schemes. Like with bitconnect there where red flags all along.
Yeah this ones no different.