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by bonestamp2
3150 days ago
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I agree there are red flags. I didn't say it wasn't a ponzi scheme, I said it wasn't a ponzi scheme "exactly". There is a unique difference with bitconnect, where the value is backed by a real coin on a publicly traded blockchain. I'm saying it's NOT a scam, I'm just saying we don't know... it's something new that we haven't seen before and it's an interesting discussion. 1% payouts aren't all that crazy when they're holding bitcoin (up 10% from yesterday) and they're holding their own coin (up 8% from yesterday). |
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Ponzi mechanics have nothing to do with how the scheme's reserves are held.
> it's something new that we haven't seen before
Unfortunately, it's not. It's either a scam or a scheme so incompetent that it is practically identical to a scam.