I am a recent 2017 high school graduate and received some bitcoin as a gift. I thought what a unique gift to receive for graduation and decided to look at ways to increase my bitcoin to help me pay for college.
I came across an investment to double my bitcoin in 90 days. I could double my bitcoin even faster if I signed up other people on the binary network to receive a bonus.
I talked to some bitcoin investors and they were actually in the Gladiacoin program and had made real bitcoin off of their investments. I was hooked when I heard that information and jumped in with my 1.5 bitcoin gift under them since they had received multiple payouts on their investment. I was super pumped and ready to make some quick money for college in the fall. That was three weeks ago.
Now, I went back to my account and found this posted on my account: Due to the low volume of deposits in recent days, we are suspending trading activities from Saturday until next Friday.
What? Isn't that the definition of a Ponzi scheme? If you need future investors in order for your business model to work and pay the people who are already invested, then there is a big issue with your business model. As far as I understand from my high school economics class, that is the true definition of a Ponzi scheme.
Did I lose my bitcoin? Or is it truly a temporary stoppage? If the stoppage is to make more money to start paying the people in the investment, then I probably just lost my bitcoin to a Ponzi scheme. Why would I invest more money in Gladiacoin so it can start paying out again in a week? My mind is racing a mile a minute since I am uncertain now how I will pay for my second year of college.
Is there a better way to make money with my bitcoins if and when I get my bitcoin back from Gladiacoin?
This is my question for cryptocurrency investors like Jeff Berwick of The Dollar Vigilante or other seasoned, professional investors in the Steemit or bitcoin world. PLEASE HELP!!
Thanks from a concerned high school graduate.