Thank you for the comment. I believe it's easy to spot a ponzi scam when the returns are unsustainable, and even worse, offered as a guarantee. Furthermore offering 7% of referral investments to the referrer is ridiculously high if it were something legitimate. It seems to be a more successful scheme so far but it will inevitably blow up. The more successful ponzi scams can last quite a while. Just look at Madoff.
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And that is precisely where I believe you and many others are going wrong. I started daytrading several months ago. Quit my shitty min wage job to do it full time so I do nothing but stare at crypto charts and news all day everyday. I am by no means a Pro but i'm very experienced when it comes to observation of humankind on this planet in general. People seem to be in the habit of judging businesses like Bitconnect by old stockmarket standards. There is nothing standard about the crypto space and while i'm sure at some point they will stop offering 7% (eventually it will get lowered but it will still be great compared to typical investment fund offers. saying "forever" is just a marketing tool, don't get hung up on it) i don't think they will disappear with everyone's money, which in my eyes is the only thing that would make it a scam. making 7% daily trading stocks is totally doable. I barely know what im doing and i can easily clear 10% a day often more, of course i lose it again but i always end up with around double my investment at the end of each month and again I don't really know what i'm doing and i sure as hell don't have any Bots trading for me. Shoot I could easily see pro's making double every day in this space. until the market volatility settles down (which is going to be a while since Crypto is still in it's infancy as far as public awareness goes) 7% isn't just doable, it's conservatively doable. they're doing it and have been for at least 7 months now. at what point does it stop being a scam and become legitimate. 7 months of conducting business as promised in the crypto world sounds pretty legit to me
Give it time, it's obvious now, but give it time if you want to see where it ends up. They're not making these returns on some magical trading bot.
ok