Quote from: dllhg on November 16, 2017, 10:02:58 PM

Quote from: jk_14 on November 16, 2017, 04:42:17 PM

Quote from: dllhg on November 16, 2017, 08:02:47 AM

Funny how so many are in denial about BTC which is so similar ....... Many have called BTC a Ponzi as well, hell perhaps it is. BTC went up over 1000% this year which would be hard to match using BCC. I honestly can't understand why so many people get their panties in a bunch about this one. Too good to be true ? Yes and so is Bitcoin Wink

The big difference is that Bitcoin is actually sustainable and has a vision.

If lending money blindly actually worked the banking crisis wouldn't have taken place in the not so distant past.

People should know what happens when people with poor credit get loans, since that approach collapsed brutally at the expense of the tax payers quite recently.

Except this time there will be no regulator to catch the losses, so good luck to anyone who goes this route.

I do agree with a lot of what you are saying. I have been discussing this with a good friend who is big on stocks. At face value certainly seems like Ponzi...... That being said we cant really see how it is any more of a ponzi than any other crypto. The BTC doesn't go to them you sell it to other users on the exchange. They dont promise you any return.Well They do offer up to .25% on top of volatility software if you put in over 10K. Investing in BTC in the same amount of time would given bigger gains. Investing in Bitconnect tokens instead of lending would have yielded about 200,000% return since end of Jan Shocked

. If anything using the lending platform will have made people a lot less than if they had just invested in the coin. Does it seem to good to be true ? Yes it does and so does Bitcoin and every other coin out there. Wild west for sure.

It is very easy to see that BCC is de facto a ponzi, meanwhile it's at the very least not obvious for many other cryptos.

I suppose you have missed the post in which I calculated out why BCC can not possibly be legitimate.

Code:

Not to mention that the promises it makes are outright insane. 0,25% interest per day means 91,25% interest per year.

So starting with $10,010 you'd have 2,808 trillion USD in 30 years and 1,838 quadrillion only 10 years later. Of course that's not a ponzi. Roll Eyes"

Given the amount of money that is "invested" into BitConnect it would create several orders of magnitude more money than has ever existed in the entire history of humanity.

The only potential results are a hyperinflation that would make Weimar and Zimbabwe look like a cute little game, or a house of cards that comes crashing down like every other ponzi.