Reasons Why Bitconnect Was A Scam.

It seems the market is back on its feet as expected after an unexpected deep of that was fueled by rumors by the corporate media that the south Korean government was going to shut down exchanges ,

These news come in at a very bad time since at the same time we saw bit connect shut down their lending platform which was the biggest of it's kind .

Speaking of bit connect .i don't know how you guys feel about this issue , some claim it was legit since they are returning peoples money through their "token" , but as for me i think these was a well designed pyramid scheme that i saw since the beginning that's why i choose sit back and watch the whole thing crumble to its knees.

To those who might feel offended or even lost their money am truly sorry for your looses as a fellow steemian the lose was uncalled for.

So as the title suggests here are some of the reason why think bit-connect was a pyramid scheme

1)The company could pay one for a referrals and not just for the people you referred but also the ones who reffered
other followers after you refereed them and the list would continue down the line and along the way you refferal
payment would get diluted.no company can be able to afford that not unless you were printing money.

2Bitconnect was just pumping the price of bcc token in the market by allowing their clients to reinvest the token after
they had given out their bitcoin in investment, the bcc token was supposed be held .so if one was able to invest in both ways then the bcc price would continue to larry to new heights.

3Bitconnect didn't pay back the people using bitcoin, they kept all the valuable coins (bitcoin) and paid people with something that was not worthwhile and had lost 85% of its value , to further their ponzi agenda of bitconnect x
if it wasn't a ponzi they would have given poeple their bitcoin not the tokens or just give them a choice btwn btc and bcc.

4 Bitconnect has no transparency,unlike other crypto currencies where you get to know even the founders.

5 There is no business that can guarantee you 1 to almost 2% in profits daily , its always a struggle and a hustle to make money even in other crypto.

If you think am right all wrong please let me know bellow the comment section.