To Ponzi or Not To Ponzi ===>> A Response to @Streetstyle
This is an article response to a wonderfully written two-part article post by @Streetstyle.
THIS ISN'T ADVERTISING OR SOLICITATION, but simply discussion with a fellow Steemian.
If you would like to first read what I am responding to, here are the links to both articles.
I made sure to upvote and resteem both articles given that it was an unbiased, honest approach, and presented everything important that has been surrounding Bitconnect that could be viewed as positive or negative.
I believe his approach to be extremely important given that people generally tend to go off on their personal feelings, highlight certain things that support their argument while dismissing other aspects that would be contrary to their argument, basically being highly subjective within their approach. Being subjective isn't always the best approach when trying to figure out something such as a service that is new running on and being supported by a technology that is also new.
I, like @Streetstyle am also a member of the Bitconnect platform. And like many people who know about the service, have plenty of questions regarding the people behind the service or how the service works more specifically.
What gave me the indication that many of these questions may not be answered was when I found out the name of Bitconnect's "lead developer" Mr. Satao Nakamoto. That is very similar to the ever elusive Mr. Satoshi Nakamoto, the alleged name of the creator of Bitcoin.
Then it all began to make sense to me. I remember back in 2014 when this happened regarding Bitcoin.
The gentleman in the video had emphatically denied "publicly" being Satoshi Nakamoto or having anything to do with Bitcoin. Now the Bitcoin community was being looked at as a group of ill-informed people investing in something outrageous called "Bitcoin", a digital currency used by drug dealers and criminals, and now it doesnt even have a creator.
The genius move behind such anonymity by it's true developer in my opinion is the fact that throughout all of the criticism of Bitcoin, throughout all of the debacles such as Mt. Gox and Silk Road, throughout all of the price crashes, throughout all of the criticism of the "coin that you cant touch" having no intrinsic value such as with Gold or Silver, Bitcoin has proven one fundamental thing that has defeated every criticism thrown its way. Bitcoin works! Bitcoin and the technology driving bitcoin works and it didnt need a representative to advertise it, it didnt need a face, it didnt need a white paper...etc. All Bitcoin needed was to exist, and it went from a digital currency being used by criminals on the dark web to being accepted by your local Subway sandwich shop.
Move that idea over to Bitconnect, and all of the criticisms that we've heard and will continue to hear will not be solved by knowing who the CEO is, knowing who the CFO is, knowing if Satao Nakamoto is just a "Pseudonym" and just a play on the ever anonymous Satoshi...etc. What will solve everything is if Bitconnect continues to do what it has done everyday...which is work. If Bitconnect's road map continues to be implemented and the website continuously upgraded, sooner or later it will no longer be about the questions we hear today, though many of them very valid, but whether the service and platform continue to work tomorrow and beyond. And like what we seen with people no longer caring about who the creator of Bitcoin is, at the end of the day it will be about weather the service works!
Written by Jeti Knight.
This is not advise or promotion of any kind. I am vested in BCC and other crypto-coins. My only intent was to engage a fellow Steemian, tell him that I highly respected his work, and to write a response given that his work inspired me to do so.
I do not accept Bitconnect referrals at this time given that my current intent is to record my bitconnect journey and to document if im able to establish profit solely by using Bitconnect's lending platform. If you would like to follow my journey you can do so by visiting the link below, and clicking on "My Bitconnect Journey" playlist. I update the playlist daily and will continue to make these videos until I receive my capital release of my original loan.
https://www.youtube.com/channel/UCuACchAgagQU6kPplOelH3g/playlists
Thank you for your time and thanks again to @Streetstyle for creating two awesome articles on a subject that im very interested in.
This was a great article, and thank you for the mention. I am totally into what you are saying here @jetiknight Kudos!! I am hoping I can get this post going. Thanks again!!
full steem ahead!
Thanks Streetstyle. I was really impressed by your work and it was a perfect approach to the subject.
totally agreed bro! this is an excellent article! everything is scam and bubles until you see that shit works! LOL ...did you noticed now, after that proof of capital release... now you even get a 4% upvote from a whale... and before they put down your posts! ironic! 😁😁 keep them coming! 💪 resteemed+up up
PS: wonder which is the Biggest Ponzi Scheme in the World? yes! our current Money System, with $ created out of thin air, and backed by nothing! so yeah! in that sense everything is a Ponzi! ;)
@kintar0 I didn't want to go there, but isn't me or is that pyramid on the back of the US Dollar trying to tell us something??
hehehe true that bro! only the "blind" cant see that evidence in plain sight! ;)
Thanks man. I just woke up and seen what this article did overnight. You bring up great points. I was nervous to even write an article about Bitconnect or put bitconnect as a "tag" given how my channel started out with being flagged like that simply for posting my own videos. This is why I put "THIS ISN'T ADVERTISING OR SOLICITATION" in bold in hopes that people who dont like the subject will respect that I have freedom of speech. My other videos werent even advertising or soliciting, but im glad I can talk about a subject that I really like with fellow Steemians. And yes, creating money out of thin air and taxing people for using it is beyond Ponzi. That's financial Slavery.
true bro! couldn't say it better! its financial slavery at is best!
I think about Bitconnect from the comment exchange with @streetstyle yesterday. I have thought but I have not got an answer yet.
I would like to use this post as a material for thinking.
Cool Asim. I hope people continue on and we can make this a great discussion with thoughts from others. Maybe it could convert to ideas for the platform itself. At the end of the day we should be making all of these crypto services better given that it will be to the benefit of us that are in this space. Upvoted!
Bitconnect is definitely a ponzi if ppl can't see it then you deserve to lose they're money. Just ask where is the money coming from? . But with that said that is the beauty of Steemit everyone can talk about subjects freely without censorship. Upvoted.
saying that "you deserve to loose all" is a bit rude man! do you wonder which is the Biggest Ponzi Scheme in the World? yes! our current Money System, with $ created out of thin air, and backed by nothing! so yeah! in that sense everything is a Ponzi! and everyone deserves to loose it all ;)
Thanks for the upvote. Couldnt you say the same thing for Steemit if that's the case? Where does Steem get this money from? Think about it, all we're doing is blogging/vlogging. Can you thoroughly explain it? I could actually explain, or I should say give a through personal explanation of how I can see Bitconnect making this money. I've done it before, and if they are in fact doing this example then it is VERY sustainable and profitable.