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RE: Why BitConnect Scares The Sh!t Out Of Me!
BitConnect is a very clever PONZI scheme for the following reasons:
- no information on the owners of this business
- BCC has no real world application, only participants in this PONZI scheme trade the coin
- to generate up to 40% ROI only by the participants trading it is a clear indication of being PONZI
- Referral comissions are only a recruitment honey-pot, plus recruiting new participants only drives the price up and increases trading volume
- as soon as recruitment volume drops, BitConnect will NOT be able to pay their promised ROI - being a variable ROI (volatility software interest, OMG), this process will not be sudden, instead painfully long.
Currently visitors volume is all time high, this scheme can last longer than expected.
Conclusion :
All participants (except the hidden owner) will be left with shitload of this pumped and dumped altcoin.
@jomeszaros this was the same conclusion that I came to as it only takes people that are interested in knowing the truth to just take a step back and realize what BitConnect really is when you aren't receiving commission payments.