Bitconnect (nothing to do with Bitcoin) was the classic SCAM / Ponzi scheme. A very large quantity of Bitconnect coins were pre mined. The Hype was hyped, The price was pumped on the exchange. Seeing the price rocketing, people bought in on the way up until the rug was pulled out from underneath them. Coins where sold very quickly leaving you holding a "bag" of worthless coins. See "Bag Holder".
This is what governments do to your savings, only much more slowly. Its called -
Basically call it ANTHING other than money printing just to make your eyes glaze over with bordem.
This is what governments do to your savings, only much more slowly. Its called -
- QE - Quantitate Easing
- Increasing M1 money supply
- Borrowing
Basically call it ANTHING other than money printing just to make your eyes glaze over with bordem.
|
Is it a scam ?
Does it benefit a -
Then its a scam. |
|
|
These rely on Proof Of Work-
|
ALL MONEY IS A SCAM.
Bitcoin is the only one that does not benefit a government, organization or individual. There's nearly 5000 crypto currencies, at least 99% are Deliberate SCAMS the other 0.99% will go no where. Leaving may be 0.01% worth while and in my opinion only 3 truly free currencies-
|
Copies and fakes
Many people have copied Bitcoin, its easy theres even an actual website that will do it for you !
But do you want the original Mona Lisa or the copy ?
But do you want the original Mona Lisa or the copy ?
Who does Bitcoin benefit ?
Those who buy earliest and deepest will benefit from the expected massive price rise. Ultimately mankind will benefit from having incorruptible money.
