Some of you may remember this post of mine from a while back, expressing the strong suspicion that Bitconnect was a ponzi scheme or similar. Well would you look at those chickens come home to roost? To think that some even doubted me.
I've been at this for a long time. Sniffing out frauds, I mean. Long time readers will recall the series of articles I did instructing readers how to identify ponzi, 419, multi-level marketing, investor, publisher's clearing house scams and more. (See bottom of this article)
Now, I won't pretend I knew exactly what type of scam it was. They often do a very good job of making it difficult to suss that out at a glance. If you run one of these scams and don't obfuscate what you're up to, it doesn't last long enough to make you any money.
I knew it smelled fishy as fuck though. That's what over a decade of studying the anatomy of scams gets you. No matter how they dress it up, you'll know when something's not quite right about it. These fuckin' things spring up faster than they can be shut down too, like chopping off the heads of a hydra only for three more to grow from the stump.
Equip yourself to recognize this kind of thing before you're taken advantage of by reading my articles about how to identify various types of scam by their fundamental structure:
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-a-ponzi-scheme-and-does-steemit-qualify
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-an-investment-scam
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-a-publisher-s-clearing-house-scam
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-a-419-email-scam
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-a-cult
https://steemit.com/scams/@alexbeyman/don-t-get-tricked-bro-how-to-recognize-a-pyramid-scheme
Stay Cozy!...and Skeptical Too!