Why did people get involved in bitconnect? - page 11.

Harrow30

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

As much as the signs were everywhere on the internet, people still stocked to it because it was yielding results; spanning 6months for them already. I had a close friend who had all his investment deposited in it and was cashing out at will. I believe he was just so so sure because of the fact that bitconnect was being traded genuinely.

nerlial

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Because it's interesting. You risk something and you can make a profit. I like to take risks. Bitcoin can keep your nerves in suspense this is so much fun.

Anarchist

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Quote from: KingScorpio on April 17, 2018, 10:19:00 AM

Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

all cryptocurrencies are pyramid schemes decentral cryptocurrencies dont exist, its only called decentral because its not controll by the central bank it still has a new center though

LOL?

Crypto...currency
a currency using cryptographic protocols, how it can be a Ponzi? It's like saying bank notes are a pyramid scheme because it uses paper...

vipaleks

newbie

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With the goal of earning money quickly on a hipe

7788bitcoin

legendary

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

It is evident, people are willing to risk their money even if they know it is a scam, they just want to make the profit they can and get out, but unfortunately some people got stuck and lost a lot of money, i had my reservations for investing in some of the coins and bitconnect was one of them, hopefully people will understand the difference between a good project and a scam atleast now.

azhariejaya

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Many people are tempted by the big profits that bitconnect and similar programs offer even though they know there is a big risk of the benefits offered. People who suffered losses from bitconnect and other similar projects, they didn't need to regret and should take the lesson that wealth can't be obtained easily.

KingScorpio

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

all cryptocurrencies are pyramid schemes decentral cryptocurrencies dont exist, its only called decentral because its not controll by the central bank it still has a new center though

fritzwalter195

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It was just another scam like any other, the product may differ but it all has the same purpose, to fool you. Their main public were people who probably didn't knew much or nothing at all about cryptocurrency.

enhu

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The coin were constantly rising up like it weren't dumped by investors. Also there were local ambassadors I guess who help the promotion of the coin and that these ambassadors are making conferences to local people convincing people to invest without any idea about what could happen. I see them on facebook pages bragging and making selfies of them earning weekly from bitconnect.

toral host25

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I think People invested in Bitconnect, because they wanted to be rich supper fast, but when project is promising returns that is too big to be true as usually it is scam.

Silberman

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Quote from: NoviceInvestor on March 28, 2018, 01:58:16 PM

Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Pyramid schemes are often very popular. Fundamentally people want to believe that they can get rich quick with no real effort on their part. So, greed clouds their reasoning, and they fall for utterly ridiculous scams.

All they need to do is create any hook that people can latch onto that 'it's different this time', such as turning the pyramid upside down or calling it a chart.

BTW: https://www.youtube.com/watch?v=DRMwmMcZKAA

It has happened huge numbers of times, and will continue to happen as long as human nature doesn't change.

People want to believe that they can earn a significant amount of money without any effort but anyone that has in fact go to the trouble to earn a lot of money know that is not easy at all, you need to work very hard for long hours in order to make money, that is what they do not see they only see the person with a nice house and a nice car and think that he got that easily but they do not see all the effort he made in order to get that.

NoviceInvestor

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Pyramid schemes are often very popular. Fundamentally people want to believe that they can get rich quick with no real effort on their part. So, greed clouds their reasoning, and they fall for utterly ridiculous scams.

All they need to do is create any hook that people can latch onto that 'it's different this time', such as turning the pyramid upside down or calling it a chart.

BTW: https://www.youtube.com/watch?v=DRMwmMcZKAA

It has happened huge numbers of times, and will continue to happen as long as human nature doesn't change.

Adioliver

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Well I guess their community had a great manager and he might have played trick with his words when questions were raised against bitconnect.From my experience I have experienced that people managing communities can be really effective whether an ICO be a success or not.So I believe that bitconnect had a good community manager.And the most important point here is greed off course.People fall for false promises which promises them to make them rich overnight.

pratik009

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Yes you are right.Many of poeple know that bitconnct is scam but some of people still don't know about it.The members of bitconnct got good profites from bitconnct platform beacause it gave daily intrest on thier investment to all members.so they earned good amount of profit and they told this things to other people and that is the reason,why people got involved in bitconnct.

daarul50

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Since the beginning, many people have recommended that bitconnect is a scam project. however, there are still many people involved in the bitconnect project. greed makes them really lose. I suggest doing not be tempted by projects that promise you quick profits because it makes no sense. Successful people will never succeed if they do not experience a long process first to achieve success.

wolfracer

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Because all the people involved in bitconnect were greedy and ignorant, and they didn't pay attention to the people that gave proof of bitconnect being a scam, and there were people that promoted them via Youtube, IG. Those people caught by promoters didn't know anything about cryptocurrencies, and they were convinced that putting money into this program will lead them becoming rich.

Razick

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I think the answer to this one is quite simple. It was obviously greed. There was no way bitconnect could have kept going and it was painfully obvious that it was a ponzi scheme but people wouldn't listen when you told them because they believed bitconnect would make them crypto millionaires in a very short time. When it ended, it dawned on them that they made a grave mistake but by then it was already too late.

Sayed Rifat

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Quote from: squatz1 on March 12, 2018, 09:55:11 AM

Bitconnect looked like a pyramid scheme from early on, and it had a ton of warning signs. If you missed the fact even a ton of people on youtube told everyone that bit connect was a scam, so you didn't even need to notice it yourself.

I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?

Bitcoin can wear many hats in this world, but it is first and foremost a prime example of how a currency not issued by a government or central bank can work just fine. That does not mean any cryptocurrency will make it, though, as there are plenty of useless altcoins to be found as well. For this reason people involved in bitcoin.

Silberman

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Quote from: European Central Bank on March 18, 2018, 11:51:52 AM

9.9 times out of 10 people know perfectly well what they're exposing themselves to deep down, they just refuse to acknowledge it to themselves and believe bad things will happen to other people. It was as textbook a ponzi as humanly possible, so much so it was almost like satire.

People have a tendency to see themselves as exceptional beings they think only good things will happen to them and that bad things only happen to other people, this kind of mentality is what causes many accidents and problems around the world some people think they are invulnerable and that things will always go their way then they find too late that is not the case.

niteroy

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Quote from: tora on March 12, 2018, 11:50:11 AM

The simple answer is pure greed. Some saw a way to make easy money and plenty of it. Before investing potential buyers should ask themselves how someone can make such high returns yet they themselves cannot.

Yes, greed and the desire to earn quickly without exerting special efforts pushed people to the rash purchase of Bitconnect. Now there are many projects on the Internet that are inherently a typical pyramid and have nothing to do with crypto currencies, but the creators of such projects continue to work on the greed and stupidity of people. With Bitconnect, the situation has developed so much that many people have heard about bitcoin and have not figured out blockchain technology, what is real bitcoin and cryptocurrency, have invested their money in this pyramid, whose name was similar to Bitcoin. The banal reluctance to understand and study where they are investing their money has led to the fact that many have lost their money. Nobody canceled the "instinct of the crowd".

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