Agree!
Unfortunately the damage is great and it extends beyond those whom lost money in Bitconnect. This will shape political responses to regulation, it will impact people’s interest in the entire crypto space (at least for a while) and it might just inspire copycats.
The positive is that in the long run all publicity is good publicity. Once the pain is forgotten, FOMO will bring more people back and new players as well.
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Let us just hope that the new players in the space will have enough material to study that us old timers have left behind for them, in order to educate them on what is or isn't possibly a scam.
High Yield Lending (HYL) schemes have been around for centuries and have always been scams. It pays to look outside cryptos and see a bigger picture before trusting everything you see on a whitepaper.
Also, these “trading bots” that are supposed to generate huge returns just don’t exist. If they did, the owners would not need you to invest.
Old timer indeed
Ha ha, yes my fellow old timer, it is true.
Why invite others into the party, when you could just benefit from all the earnings yourself, which is the first question you should always ask yourself before jumping into something so stupid.