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RE: If Bitconnect is a Ponzi Scheme why isn't Bitcoin also?
Yes i agree with you in all your points specially the fact that bitconnect has not scammed anyone. Actually i made the same argument here just 5 hours ago lol
Anyway I am just a bit worried on those young teens like me who might be not think it through when investing on cryptocurrencies like bitconnect. But for me I only invest i am willing to lose and do it with due diligence.
I conclude people fear Bitconnect because it is not regulated by the banking industry. I don't think anyone cares if you and I make a profit. Where were these people before when ICOs popped up every day taking people's Bitcoin and offering nothing but a whitepaper? All ICOs carry the same risk as Bitconnect or greater because an ICO at best just is a whitepaper and some code with no data from which to determine the probability of a ROI.
With Bitconnect people are at least getting paid and as long as that continues we have more evidence that Bitconnect offers ROI than brand new potential scams like Saltlending which don't even have anything but an idea. Yet people who rant against Bitconnect are okay with others investing in an ICO.
It is all gambling. It is a low trust environment. People manipulate markets, and spread FUD, and the only thing which matters is are people making money and getting paid? If they are holding a token which isn't paying then they aren't getting their return on investment as quickly as Bitconnect lenders, so why listen to them?
Bitconnect may shut down, but the same can happen to a token which can be made obsolete overnight by another token, or copied, or dumped on by a whale.
Yes I totally agree with you.