BITCONNECT the most massive crypto ponzi scheme ever???

[Shotz]

They have offices in 10 different countries and are sponsoring a few big blockchain events as late as November 2018.  So Ill make my profits until at least 2018 .

Not to mention the crypto spending card that will be connected to your lending wallet. Hehehe

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[Cipherr]

Yes its a Ponzi, but theres two reasons Ponzis work on people. Its always been the same two reasons:

1:  

If you are judging other people's or your own gains as proof of it's legitimacy, you don't even know what a ponzi scheme is.

This. Some people who haven't been educated on these things (and that accounts for a lot of young Crypto enthusiasts) define a scam as "Something where no one gets paid and no one makes profit but the scammer". Of course we know ponzis dont work that way. Ponzis thrive because it actually DOES make many people money, but at the expense of the people that get scammed on the bottom/at the end when it collapses. People look at folks who have made a good ROI on Bitconnect and thereby assume it cannot be a scam if some people are profiting... This is bad logic, but they haven't been taught any better so...

Second, the fuel behind them are the people who don't mind if other people get scammed so long as they make money. Example:

I don't  care, it made me a profit.

This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.

In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.

[gentil]

Clear Ponzi, I have no idea how its become so big when its so obviously a scam.

Thats crypto for you 

[Crypto_Jay_99]

Yes.

If it sounds to good to be true, it probably IS to good to be true.

Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?

[ikilledcobain]

Yes.

If it sounds to good to be true, it probably IS to good to be true.

Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?

Lol, it's a magical trading bot that they've written that allows them to give away those interest rates.

It's a pyramid scheme (slightly different from a Ponzi scheme: http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp ) if I've ever seen one. There's a guy that promotes it incessantly on Steemit.

Part of me wishes I'd gotten in early to get in on it but then the moral part of me remembers that I'm basically stealing money from those that come in after I do.

[Crypto_Jay_99]

Yes.

If it sounds to good to be true, it probably IS to good to be true.

Nobody gives away free money. Do they even try to explain how they're giving these crazy interest rates?

Lol, it's a magical trading bot that they've written that allows them to give away those interest rates.

It's a pyramid scheme (slightly different from a Ponzi scheme: http://www.investopedia.com/ask/answers/09/ponzi-vs-pyramid.asp ) if I've ever seen one. There's a guy that promotes it incessantly on Steemit.

Part of me wishes I'd gotten in early to get in on it but then the moral part of me remembers that I'm basically stealing money from those that come in after I do.

Lol, how generous of them that they're sharing those crazy profits.
Such benevolence.

[rufus59]

So now you know, it one big scam. It a ponzi scheme

[redwine49]

Yes its a Ponzi, but theres two reasons Ponzis work on people. Its always been the same two reasons:

1:  

If you are judging other people's or your own gains as proof of it's legitimacy, you don't even know what a ponzi scheme is.

This. Some people who haven't been educated on these things (and that accounts for a lot of young Crypto enthusiasts) define a scam as "Something where no one gets paid and no one makes profit but the scammer". Of course we know ponzis dont work that way. Ponzis thrive because it actually DOES make many people money, but at the expense of the people that get scammed on the bottom/at the end when it collapses. People look at folks who have made a good ROI on Bitconnect and thereby assume it cannot be a scam if some people are profiting... This is bad logic, but they haven't been taught any better so...

Second, the fuel behind them are the people who don't mind if other people get scammed so long as they make money. Example:

I don't  care, it made me a profit.

This is the mentality/moral code of the people who know its a sham, but fuel it anyway as long as it can make them a dollar. Its not surprising; Wallstreet and traditional FIAT market types are full of these dirtbags, that's why we ended up bailing out American car companies and the income inequality gap keeps increasing while Bankers and Suit wearing jackasses crash the housing market with shoddy loans and make off like bandits. Most people don't care if it screws others as long as they get THEIR profit. You cant talk them out of it either, they always have some rationalization as to why its okay to profit off of someone elses misery so, dont bother.

In any case, those two things make it possible. The 1 year loan system buys them time, and yes, they have created the biggest Ponzi in Crypto for sure. My worries are with those that will lose their money, and with the effect this will likely have on the entire crypto market when it implodes. It will probably make the news and make Crypto look that much more like "criminals doing criminal things" which is so unfair and unfortunate.

iam waiting for big cry from who doesnt care about his money.
people need to learn when they loss their money
so maybe next year and i believe it will be big news like mt gox

[gtinvest]

I am just hope Bitconnect will stay longer in 2018 or 2019, because i already invested there . It feels too late read this article but thanks for sharing to me