[ksutariya]

The problem in India is that everyone looks around and sees what industry is making the most money and jumps in there. I know a ton of people who have switched from textile to diamonds to construction and so on because their friend is doing well in that industry.

Similarly, now a large number of actual ponzi schemes have come up in this space (Bitconnect, Dekado, etc) and if you look at their websites it is very easy to tell (Dekado claims to use arbitrage buoyancy software to generate 1.5%+ return per day). The problem is logic doesn't apply here when your friend has made XYZ dollars in that coin. Greed gets the better of you and you invest knowing that it is not possible.