Quote from: cyptx51 on November 20, 2017, 02:30:32 AM

Quote from: Xfactor06 on November 20, 2017, 02:24:03 AM

I'm having thoughts about bitconnect, would someone here give an advice about this digital currency? and what really is a "ponzi" scheme?

I am currently investing in their lending program. I only have 280 invested in it but I have earned $200 USD worth of bitconnect coin in profit in a little over a month. People hate on it and call it a scam but it pays me everyday. I'm hoping some of my alts hit so I can do a 5K loan and profit $10K and receive my initial 5K back in 179 days

Don't you consider how unsustainable it sounds? Where do these obscene "lending" profits come from? Who are you lending to? When I watch a video by that Trevon James guy, he was incredibly vague. Something about "volatility software" which doesn't mean anything to me.

You have to admit, there hasn't been any reasonable explanation offered as to how the profits are generated. Early investors in Ponzi schemes generally profit just like you have -- that doesn't make them not Ponzi schemes. It just means that early investors got paid with the money of late investors.

The UK Government (Companies House) has even threatened to revoke Bitconnect's registration. That's reason enough not to get involved with this scheme.