They don't deal in any fiat. The value at the time of the loan is what they use to calculate the interest and capital return. As long as the BCC price goes up they can pay a certain amount of interest without even going into their BCC reserves. So they were never a Ponzi. Obviously, if market sentiment changes the price can plummet. Don't people realise that when they buy a bitcoin for $10k, they won't get that back if everyone sells it at the same time? In fact, just a few percent of the bitcoin being sold can halve the price. The lending only operated with the BCC token.
for one last time, the bcc that people put in loans where used to pay out the interest of others, and thats how a ponzi is defined. i proved it on the blockchain page 143. the fact that they had to payout less bcc because of the increase in value allowed them to go on for a longer time. granted, it was a well thought-out scam.
im deleting the bookmark of this page now, you should too agm, move on with your life.
PS: the 1 BCC at price 100$ i lent back in october turned into 0,43 BCC at 16$ now. what a bad investment.