Ponzi schemes come in various different forms, and can last for varying amounts of time before they come crashing down, but in the end they are basically the same thing, a giant scam. Many people today still tote Bitconnect as a legitimate crypto platform offering low risk and high reward outcomes on a consistent basis, but this is mostly due to the pyramid structure the platform uses which helps prolong and mask the scam for as long as possible due to the users who buy into the scam finding themselves in a situation where they are better off playing along with (or playing ignorant to) the scam to continue their unrealistic gains (or glowing affiliate users under them) instead of taking a close look at the system as a whole to understand the unsustainability, unrealistic profits, and a plethora of questionable aspects of the platform as a whole has.
With Bitconnect the signs of a scam are there for anyone who cares to look...
-Uses a tried and tested classic pyramid scheme framework as the base, with added control using a crypto token they created/control, which is almost exclusively used on their own Bitconnect exchange and nowhere else
-The platform rely's on continuous token price growth which up to this point has been doable due to exponential growth in the crypto space, consistent crypto user growth, and pumping of scheme using popular "BCC superstars" on platforms such as YouTube as well as and mass online advertising campaigns targeting new crypto users for the most part
-They reduced the tier rewards from 11 tiers to 7 tiers to prolong the ponzi scheme
-They reduced the tier rewards from 7 tiers to 5 tiers to again prolong the ponzi scheme
-They "recalculated" the number of BCC tokens in circulation, which doing so dropped BCC from #8 to #15 in total market cap, and still may not be close to accurate
-They reduced the tier rewards from 5 tiers to 3 tiers to yet again prolong the ponzi scheme
-They reduced the affiliate payout amounts to %5, %3, %2 to yet again prolong the ponzi scheme
And many other BCC related red flags...
On an accelerating basis the Bitconnect scheme is being adjusted to prolong the scam just a bit longer, while at the same time the growing amount of articles, social media posts, YouTube videos, and Google searches are showing that more and more people are questioning the legitimacy of the Bitconnect lending platform as a whole.
https://trends.google.com/trends/explore?q=bitconnect%20scam
https://trends.google.com/trends/explore?q=bitconnect%20ponzi
https://trends.google.com/trends/explore?q=bitconnect%20pyramid%20scheme
Long story short Bitconnect is running out of "outs" and the whole BCC pyramid scheme is likely to quite soon start really falling apart, and fast (highly possible to happen before end of the year, and once started will likely come crashing down almost instantly in a mass chain reaction event).
BitConnect: Token Scheme Changed
Currently, BitConnect is extremely lucky in that the Bitcoin price has taken off, and whatever BitConnect were sold in the past have turned into a reasonable reserve. So despite the pyramid scheme of referrals, BitConnect may have enough to cover the payouts, for now.
https://cryptovest.com/news/bitconnect-token-scheme-changed/
Whenever I see people frantically screaming that Bitconnect is a legit and sustainable platform, I am instantly reminded of this clip from the movie the Matrix, which I feel sums their general mindset up quite nicely.
"The Matrix is a system, Neo. That system is our enemy. But when you’re inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save. But until we do, these people are still a part of that system and that makes them our enemy. You have to understand, most of these people are not ready to be unplugged. And many of them are so inert, so hopelessly dependent on the system, that they will fight to protect it."
UNPLUG FROM THIS SCAM AS SOON AS YOU CAN... You have been warned!