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RE: BitConnect Was Not A Ponzi Scam
"I will admit that their referral program tends to resemble a pyramid scheme" which was why it was unsustainable and had to eventually fail.
"I will admit that their referral program tends to resemble a pyramid scheme" which was why it was unsustainable and had to eventually fail.
They made changes to their referral program to mitigate the proportion of daily returns. If they removed the referral program altogether, then the company would still make money based on their business model. So, I stand by my hypothesis that BitConnect was not a ponzi scheme.