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RE: Bitconnect Investigation: If this is a scam and it falls, the Government will not turn a blind eye.
The Federal Reserve is the worlds biggest scam that ever exist.
The Social Security is a ponzi scheme that has all ready ran away with the money. Yet millions pay into it every week.
No argument from me on that one, I 100% agree.
So do we want the crypto space to have the same reputation?
The whole movement, and yes I call Bitcoin a movement, began because it was a direct response against the power of the fed bank and fiat currency in general.
Satoshi Nakamoto himself supposedly said (when he posted the white paper): "If you are disgusted with the corrupt financial system as I am, this might be another way of storing and transferring monetary value"
In the beginning Bitcoin was virtually worthless, no one could possibly have foreseen its rise. Therefore those who got into Bitcoin joined because they believed it its concept as an alternative way out of the swindle that we call the fiat system. Not to become millionaires.
Now it has grown to a billion dollar ecosystem. A system we all want to succeed. Thus the last thing the cryptospace needs is for some gigantic swindle scandal that burns our naive youth.
I was somewhat OK with Bitconnect being a scam as long as only those who can affore to lose have invested in it, but when they now go out to actively recruit the young and impressionable, then in my opinion, they are crossing a moral line that I believe sets a precedent. And one that could have enormous and serious consequences.
I simply cannot keep silent on this.
Amen