The cryptocurrency community acknowledged that bitconnect was a Ponzi scheme way before it collapsed. It's service was not functioning in good faith and was on full display for anybody that cared to look.
Those in crypto can spot it from a mile away, but these Ponzi's pray on those wanting to get in, they they see a tiny bit of profit and tell their friends to buy!
This gives crypto a bad name and those who have lost will mostly likely not come back. But this is a decentralized market so there will be more and more.
It is fair to assume that many of those convinced that this is a scam joined in nonetheless hoping to make a quick killing and get out. Some did some died. It’s the nature of the Ponzi. Keep an eye on Davor, it will follow Bitconnect sooner or later. The big trap is the “high yield” lending program.
Those in crypto can spot it from a mile away, but these Ponzi's pray on those wanting to get in, they they see a tiny bit of profit and tell their friends to buy!
This gives crypto a bad name and those who have lost will mostly likely not come back. But this is a decentralized market so there will be more and more.
It is fair to assume that many of those convinced that this is a scam joined in nonetheless hoping to make a quick killing and get out. Some did some died. It’s the nature of the Ponzi. Keep an eye on Davor, it will follow Bitconnect sooner or later. The big trap is the “high yield” lending program.
Yeah I have seen a bit on DAV lately, don't know much about it but will keep one eye on it.