Bitconnect is an obvious ponzi. You're correct when you say that if it's really big when it inevitably blows up, it will reflect poorly on cryptocurrenc. It will also be used as a scapegoat by the people whose established power is threatened by decentralized networks.
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I agree, Actually I was convinced it was a ponzi scheme when I started my investigation but the deeper I dug the less obvious it became.
The whole story is a fascinating one. I am not yet finished reading all the information I have gathered and I am waiting to hear back from a friend of mine in London who is, as we speak, trying to find the offices of where Bitconnect is supposed to be registered, If it indeed exists he will go in and ask some questions.
I have extensive knowledge and expereince dealing with psychopaths and I have been used as a consultant with the police a couple of times, but that it another story, but needless to say, when I saw these pop videos made by Bitconnect, I felt they were crossing a moral line that I had not ween before. Up until now Bitconnect has mostly been silent so why suddenly go out and make pop videos and ones that are specifically aimed at the young and the naive promising hope, joy and financial freedom.As well as making a smart card. This raises the level of being just a scam to swindle the rich and greedy. Now our children are being actively targeted and that, if it is not legit, will have very serious consequences on a world wide scale. What one country sees as a moral outrage, another might see as being OK. This highlights the problems facing a world that is becoming ever smaller due to the internet. This has been somewhat fine, but suddenly, and for the first time in history, millions of people can lose their money and have no consequences brought upon them. This is a situation psychopaths dream of. To these creatures who have no conscience whatsoever, the crypto space is a dream come true. It is known that a staggering 7 out of 10 who work in the Stock market are middle rage psychopaths. They cause havoc of course but at least they are restricted by certain laws, but in the crypto market, there is nothing to stop them. This is something we who believe in the crypto space need to find a way to deal with. We need to agree on some kind of moral code here as well as finding ways to limit the damage done by psychopathic hackers or scammers.
The fact that Biconnect have made the step to actively be seen now is what got my attention, For it say only one of two things. They are legit and they genuinely want to help create a way for people to have a passive income as well as attack the banks, or they are psychopathic scammers who feel nothing about walking away with millions of peoples hard earned money, including young naive adults.
Sorry I went on a bit long.