I'm pretty sure people are holding onto bitcoins because they think it is going to go up in value.
The same is true of lots of kinds of assets. People hold Amazon stock because they think it is going to go up in value. Does that mean Amazon stock is a Ponzi? No, of course it doesn't. Your argument makes no sense.
It's not as if it can be used for anything else other than some sort of speculative asset with nothing backing it.
That's not true at all. I regularly use Bitcoin to pay for goods and services. If you a willing to wait for confirmations it doesn't even cost too much.
I recently spent $22k worth of BTC for a $2 fee. That's less than 0.001% fee. I don't know of any other payment system with such low fees for large payments.
All tokens don't really have any other backing other than supply and demand.
That's not true. Some tokens are backed.
USDT for instance is backed by USD. You really ought to fact-check your statements before posting.
I forgot to mention that apparently bitconnect are working on refunding those who came in the last couple of months and didn't have enough time to get their investment back... not sure what they will do but they certainly have enough profit to do that.
"Apparenty"? I'll believe it when I see it. I would hope that most victims have learned their lesson and no longer trust the word of known scammers.
I would recommend selling any BCC as soon as possible while the price is still non-zero.
hmmm are you sure you were able to send multiple bitcoins for $2 haha I don't think that's possible. I know I always end up paying hundreds of dollars when sending more than a few BTC. Maybe I'm doing something wrong but I doubt it.
Also, I've heard of tether but many people are sceptical about it really being backed by real money. They also have very predatory terms which means they reserve the right to confiscate funds for no real reason.
Also, the last point you made says it all. Investors haven't lost any money yet unless they sell their tokens cheap. If there wasn't so much backlash against the company (which always paid people the advertised daily interest) then they would still be open today and everyone would be making 30% per month etc. Don't you feel guilty about making everyone lose so much? Many people in bitconnect became very wealthy too as it was very easy. They may have got better investments in other ways but the bitconnect model would have carried on fine without the bad press.