7 months ago, i made a calculation public, proving that bitconnect was a scam.
The calculation is based on a Hypothesis.:
what would happen if you invested $10.000, and compounded every day for 10 years.
Well this would happen.:
As you see, the first month you make 35%, sounds good, and 3495% a year, thats the dream.. But if you calculate i little bit furter, you will see that 1% a day is astronomical and unsustainable, because the growth is exponential.
In 10 years you would had made more money than there exist in the world.
If a lending platform is promising 1% a day, its a scam, simple as that, and math proves it.
The answer was always there.
You can download my excel sheet down below, and play around with the numbers yourself..
https://drive.google.com/file/d/1PZseH_kQCtdZ7xwg1dyHwRsoNrFp_mRb/view?usp=sharing
Have a nice day, and steem on..
Just look at the price, it is going towards zero
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good calculation ! i like it :)
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If you stick to the % it is not possible. True. How about playing with a decay funtion? Let's say 1% during the first year, 0.1% in the 10th year, and so on ;-)
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There is a long way from 1% to 0.1%.
0.1% can be done here on steemit, by buying STEEM, and upvoting yourself, or delegating SP, so 0.1% is possible.
Remember my hypothesis is just based on 1 person. In reality there can be 1 mil people invested on avg $1.000, around $1 B (bitconnect)...
How can they make 1% of that. If just half of the investors are compounding.
Its unsustainable. It might run for a year, maybe even two, - but thats it.
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That's why the % gain has to be reduced over time. If it is meant to be stable at 1% it cannot work ;-)
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Awesome bit of info!
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test
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