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RE: Bitconnect - Legit or Ponzi?
I like your two hypotheses, keeping it real. There is no way that this is not a pyramid scheme, but as you imply, that doesn't mean that you can't profit from it. Just be aware of the risk and factor that into your investment. Early adopters will probably profit greatly. Latecomers will probably lose everything!
If you know it's a scam and you're investing your money with scammers, because it's still early, all you're doing is extending the scam, giving it "wait not yet, we have another sucker on board, he might bring 3 more" eventuality.
True, I guess everyone involved should just realize it's a gamble, and no one should be playing with money they can't afford to lose. Personally, I wouldn't touch bitconnect with a 10 foot pole, but if you choose to, you should be prepared to lose it all.