Bitconnect.
What more can I say. A blockchain, MLM Marketing, Mining, Staking, and Lending Platform.
It is quite possibly the most cleverly devised crypto scheme I've seen in the last few years.
A few points:
A highly lucrative referral program. Check!
A high yield investment product. Check!
High yield POS system. Check!
POW Mining. Check!
... and for full disclosure. I have a loan into the system. Mostly just to learn more about it.
The reason for this post is to offer some advice to the critics.
Stop driving yourself crazy trying to stop this thing!
I'm not really a fan of Bitconnect either, but I have learned to accept the powerful mix of incentives and desire for new people to earn easy money in the cryptospace. I truly believe most people involved in Bitconnect are fully aware of the risks, but it's really hard to pass up what is essentially free money. The big promoters are cashing out or sweeping their profits into regulated exchanges. Time will tell how long it goes forward.
The Keynes Quote...
"The Market Can Remain Irrational Longer Than You Can Remain Solvent"
...comes to mind.
However, I did resteem NG Gavin's post earlier today because I thought it was a decent video. After today I will not really concern myself with the future of Bitconnect lenders. As should you.
https://steemit.com/bitcoin/@nggavin/ponzi-coins-exposed-coins-from-the-darkside