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RE: Bitconnect : Lawsuits From All Directions

in #money7 years ago (edited)

why wouldn't a lending platform work in theory. This one was obviously a Ponzi scheme... but if your charging someone 1.5% daily to borrow money to use for trading; why cant the platform take 0.5% and the 1% gets paid out to the lender. Bitconnect was using bots to trade bitcoin and pay people out from the gainz... when bitcoin tanked it could no longer sustain itself.

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