Are all lending platforms Ponzi Schemes??? @BitConnect
ALL lending platforms are NOT ponzi schemes. ICOs can be scams, lending platforms can be scams, and in all reality bitcoin itself could be a HUGE scam. Although, we as investors must do our due diligence and make an educated decision. The only thing in life that is promised is change. NOTHING will last forever. Rome fell, Egypt fell and countless other things that were "too big to fail"
Nothing is safe out here. Any website or company can run off and scam people for money. I think it is a bad idea to count one sector completely out. Everything should be looked at with a grain of salt.
Do you think ALL len
ding platforms are Ponzi schemes and bad news for the cryptocurrency community??
If it wasn't for government regulations in the U.S., Bitconnect lending and trading would still be active. It's just unfortunate we got screwed by refunding us BCC, which crashed overnight. It's back up to $30 now so we'll hold and see what transpires.
I think the case was bigger than just U.S. regulations. Although, I am not a big fan of big brother intervention. BitConnect was running in many parts around the world prior to the U.S.
I believe that there were internal budgeting issues that made things bad. Simply spending more than they were bringing in. A cashflow issue can destroy any business.
I honestly don't think bitconnect was/is a scam.
I can't say the same for all these new platforms.
I can agree with that position. I don't think it is fair to make future and current platforms pay for bitconnect's mistakes. Would you agree?
I agree it's not fair . Then again no one ever said this world was fair.
Some things are just the way it is, so all future lending platforms will be compared to Bitconnect (fair or not fair, good or bad) imo.