Very informative didn't know it was named after Charles ponzi, Unfortunatley this has a service attached like bitconnect, so It's sustainable. Did you read about the tumblr ? Block chain allows this to be possible.
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I don't get it. Neither do I get BitConnect.
So what if they have a blockchain. A blockchain is just a secure way to store data. That's all. It doesn't mean that the data will be true, nor does it mean that it will contain actual facts about the source of the money.
I can code a blockchain about gummy bears in 60 minutes.
I'm not here to fight with you about bitconnect or bitpetite, If you wouldn't like to invest don't but I have and I believe in it as many others do including the makers of coinmarketcap.com
I would love to see a blockchain you've coded, I have no idea how that works actually.
A blockchain is just a string of hashes, where every next hash depends on the previous one.
The hashing ensures that the data you have matches the data you had before... And that's it.
Even a non-developer can make a blockchain.
The hard part is not making it, but convincing people to trust you with their money.
In cases like BitConnect and similar networks the data that gets hashed is probably who lenses what and who received what gains.
But that only means that they can't claim that you never gave them any money. You have that security at least.
However it doesn't mean that they can't just... Stop working.
In your place, I'd read the terms and conditions very very carefully.
You have some solid points but "What happens with your money if they stop working tomorrow?" can be applied to a lot of crypto investments.
Not a lot. All of them.
The only secure place to put cryptos is a hardware wallet.
The very idea of investing them for benefits is strange. If this type of investing was a normal, legitimate business, why isn't it possible to do it with conventional, government issued money? Why aren't there options to invest regular dollars, and get 40+ % returns yearly? The best possible return would be around 10%, and even that would be risky.
Yet criptos offer you much, much more. BitConnect offers ~1% daily. If you withdraw everything that's 350% yearly. If you reinvest, the yearly compound interest is a freaking 3300%!!!
There's no such thing as free lunch!