If the Bitconnect is a ponzi scheme, then the Bitcoin is also the same.
RE: Stop yelling at Bitconnect!
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Stop yelling at Bitconnect!
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False. No other exchange requires me to lock up my base investment for a minimum amount of time. The red flags for me were the fact that I couldn't move my money at any time for any reason, and they GUARANTEED at least 1% profit per day.....and anyone with enough experience can tell you that's impossible.
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Slight correction needed 1% a day was never guaranteed there were some days when the payout was 0%
Locking up your investment for a minimum period is not unique and happens in the fiat money world as well
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365% comparing to 2000% for bitcoin in a year is nothing.
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There's a difference between something that you can buy and sell at whenever you want at market value (wich can go up 1000% or 50% down) and a centralized platform that PROMISED you a given return. Specially if it is this high. People see "blockchain" on it and thinks that is "just like bitcoin". BCC is not like BTC. Ripple is not like BTC. TRX is not like BTC. Take care of your money, even when you risk it
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You're not considering everything with this comment. Yes, BTC went up 2000% in a year. But not EVERY DAY in that year was a green one. Getting profits on those days should've been the great big red flag being waved in your face.
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Just stop. Put the keyboard away.
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I'm not quite sure of the logic behind this belief, which multiple people seem to have. I'm no expert, but, from what I could tell, BitConnect was something quite different than simply Bitcoin; for one, the latter didn't lend money to people. Either wy, I actually don't think Bitconnect, can really be blamed for anything really. Yes, I "feel bad" for anyone who lost money --by the way, I DID invest a very very small sum into BCC, and then promptly withdrew it, this was all only about a week before the crash...--if only not for the fact that I know how that feels. BUT, it's no different than if I were to have lost it all on the blackjack table. I knew it was a bad idea, but I did it anyway... The casino didn't call me to come play.
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