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by JumpCrisscross 3153 days ago
> There is a unique difference with bitconnect, where the value is backed by a real coin on a publicly traded blockchain

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.