Quote from: AGM76 on January 24, 2018, 07:29:37 PM

Quote from: Crestington on January 24, 2018, 06:10:04 PM

Quote from: AGM76 on January 24, 2018, 10:51:24 AM

Quote from: Crestington on January 24, 2018, 10:07:42 AM

Quote from: AGM76 on January 24, 2018, 09:43:26 AM

Quote from: alexkid on January 24, 2018, 09:40:56 AM

Quote from: AGM76 on January 24, 2018, 08:39:46 AM

It's funny...coins like DASH are allowed to go up in price and not be called a Ponzi (masternodes sure helped DASH - the promise of free coins forever for holding enough of them and not selling- sounds a bit like lending doesn't it? It basically works exactly the same way - PoS mining/staking isn't much different either except the yearly interest they give you is a fixed percentage instead of variable although the more often you stake, the more it compounds and higher staking amounts tend to pay more often)

DASH was even moaning about Bitconnect to coinmarketcap's Twitter (calling it a Ponzi, no less) when it was rivalling it's billion dollar marketcap and overtaking them. The same day coinmarketcap revised the circulating supply of Bitconnect and it fell from around 6th place to 16th (I can't actually remember the positions but something along those lines).

Staking is no ponzi. When you stake you are rewarded by the fees payed for transactions.

LOL you are not rewarded by the fees. A coin can choose any random staking reward they want in the code. Some like BuzzCoin pay 160% per month compounded (100% per month if you only get one reward a month but as long as you get it every few days it will compound to 160%). It hasn't done too bad. I actually sold too early or would have made about 10 more BTC. Obviously, BuzzCoin is more of a Ponzi than bitconnect as it didn't really have the value of guaranteeing the investment amount when you lend (as long as it was allowed to continue without being a Ponzi - remember the interest and capital release was always less BCC than was lent so it was never operating as a ponzi).

Thing with Dash is that you always have control over your Coins and the rewards for staking are always the same. The developers cant arbitrarily decide to change the rewards without consensus from all the miners and stakers. Main point with ponzis is that you give your Coins over to someone else, and they hold your capital and just pay you the interest (or not). When the price tanks, you can do nothing because they hold your money (and usually never get your initial investment back)

A coin like BuzzCoin is not a full ponzi because you keep control over your money. Coins like that will tend to go to 0 over a long period of time unless there is a hardfork to change the rewards. As price goes down, you always have the option to sell your initial investment plus the interest you've accumulated from staking.

I am probably not following you correctly but did you really mean that it's a Ponzi if you don't have control of the money and they don't pay it back? Bitconnect gave everyone their investments back (at the 15 day average value) and the value only went down because many sold them at the same time. The same would happen with any coin if a lot was dumped in one day. Like I said before, bitcoin has almost double the supply so should be half the value of bitconnect, all other things being equal. So a valuation of a few hundred dollars for bitconnect wasn't excessive. Everyone who spread the misinformation are more to blame for the current value than the investors of the coin. The site is still up and running, so the coin should increase again once they figure out what to do next.

Remember the BitconnectX ICO sells out every day almost immediately and takes in $13million worth of funds each time (although they value BCC at $150 since bitconnect closed the lending). How are so many people investing in it still if everyone thinks it's a scam??? All the people saying it's a scam are probably in the minority.

I don't think you are following anything people are saying in this thread.

Bitconnect was built as a lending platform, classic ponzi. Why don't you take some time, research how ponzi schemes work, and go through some of the scams that have happened on these forums throughout the years?

Still believing text on the screen? That bitconnectx ico is a black hole and a scam.

Here, why don't you check out how a REAL ico is done with legit people https://bitcointalk.org/index.php?topic=2353775

Actually had talked to Ronny Boesling years ago through skype when his exchange was just starting out, before he partnered up with the bitshares asset exchange.

I had a look at the ICO. You are saying these people are more legit than people in the Far East for what reasons?

I noticed some very non-legit marketing methods. Firstly, you must know that the value of the any token (unless somehow linked to the profitability of the business) has no relation to how well a company does. The main factor in the price is the starting price in the ICO (simply because investors prefer not to sell at a loss). Now you understand that, do you not think offering a FIFTY PERCENT (50%) discount for early investors is a bit of a red flag? They will be encouraged by this 50% potential gain in the price. There are no promises, but bitconnect didn't promise anything either for most loan amounts. The lending had the desired effect, though, and the coin increased enough that bitconnect could share the gains in this way without ever being a Ponzi scheme.

Now that you understand that your tokens are not linked to the profitability of the company in any real way, you should also understand if the coin appreciates in value not everyone can win. Try getting everyone to cash out at the value they want. It will never happen in the markets. It's a zero sum game as it is not backed by any company profits (remember, bitconnect's lending generated profits for the company and also its users - just at a lower rate of profit than if users simply held the coin instead). Are you sure this ICO is not a Ponzi? It can't be a security, remember, like normal stocks (or they lose the USA market). Their claims that they will bring cryptos to a billion people from a measly 5 million is a bit overblown too.

Look at how their legal team tries to wriggle out of saying it could be classed as a security and thus not authorised in the USA (granted there have been no court cases to date so that could mean no ICO token is a security, but the SEC doesn't stop warning people about it - TokenPay had to refund Americans half way through their ICO):
"However, the Platform is designed in a manner that would fail if SCR tokens are simply held with the intention of reselling at an appreciated value. To clarify, the Platform is an interactive mediadriven platform. SCR tokens are held and used to interact on the Platform. No other tokens or currency may be used therefore, and non-use of the Platform will drive down the market price of the Tokens. Thus, if the general publics primary objective is to hold an SCR token for investment (I focus on SCR tokens, because SP may not be traded on the secondary market), then the entire Platform will lose value due to non-use. This will render the Tokens worthless. Thus, any primary intent in holding the Tokens solely for investment purposes makes no sense."

I hope you are not invested in it to make money (or hope that most other 'investors' aren't trying to make money), going by the above.

At least bitconnect's model had no problems with price appreciation!

Lol, first person to hit my ignore list ever.

You truly are an idiot