Topic: Why did people get involved in bitconnect? - page 14. (Read 2661 times)
Humans are born greedy, at least most of us. I am pretty sure that the people who participated knew the risks but ignored them because they knew there were people making tons of money by doing nothing and these people didn't want to miss that boat. Sadly for them, there doubts became reality.
People who invested in Bitconnect were driven by a thirst to earn easy money. More so, all this was happening against the backdrop of the colossal growth of bitcoin. From the very beginning it was clear that there is a big chance not to have time to withdraw your funds. And those who were cleverer, but still got there, had to withdraw the initial investment at the first opportunity. And then it would be possible to take risks. I use the same strategy even in normal ICO projects. Earned normally - withdrew the enclosed and part of the profit and into the next project. And the rest is not so pathetic, it may disappear, or bring more revenue.
this is because they promised good returns ,they succeeded in getting people to buy in because we did not do our due intelligence , most people do not seek to equip themselves with the necessary knowledge and information so they can make informed decisions and choices, most people only listened and followed and we all know the result.
I think a lot of people got involved as well because they saw that others were gaining money, when you see others saying that it's working out you're going to be quicker to follow them. Plus, I think bitconnect was able to survive because the bitcoin price was increasing a massive amount and they were able to say they were making gains.
Once it went to shit, that was the end of bitconnect.
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.
this is because they promised good returns ,they succeeded in getting people to buy in because we did not do our due intelligence , most people do not seek to equip themselves with the necessary knowledge and information so they can make informed decisions and choices, most people only listened and followed and we all know the result.
True and we can all agree that nothing entices a person more than the prospects of him/her making more money even though the whole thing seems to be highly suspicious in the first place, 
this is because they promised good returns ,they succeeded in getting people to buy in because we did not do our due intelligence , most people do not seek to equip themselves with the necessary knowledge and information so they can make informed decisions and choices, most people only listened and followed and we all know the result.
Part of it is the cult-like mentality. After a certain point, people cease to start looking at it by the quality of the system but by how it's worked out already. Just like all other Ponzi schemes, they paid out good returns at the start, which led participants to jump in and protect each other's irrational beliefs by thinking about the people who had gained money before them.
Before this mentality forms though, it's mainly just based on greed. People aren't used to scams, so they just participate in whatever looks vaguely legitimate to them.
Scammers are also notoriously sociable - they're masters of persuasion.
Before this mentality forms though, it's mainly just based on greed. People aren't used to scams, so they just participate in whatever looks vaguely legitimate to them.
Scammers are also notoriously sociable - they're masters of persuasion.
maybe the same reason why they get involved with a whole lot of other shady stuff, the greed!
it actually seems to be a strong driving force in the cryptocurrency market. people even buy bitcoin out of greed, they want to get rich overnight, and don't get me started on altcoins and their pump and dumps.
so the same thing is true about bitconnect and all the similar projects. people get involved with them because they think they can make money, they sometimes even close their eyes on facts because all they see is money!
it actually seems to be a strong driving force in the cryptocurrency market. people even buy bitcoin out of greed, they want to get rich overnight, and don't get me started on altcoins and their pump and dumps.
so the same thing is true about bitconnect and all the similar projects. people get involved with them because they think they can make money, they sometimes even close their eyes on facts because all they see is money!
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?
I want to know why people got involved while knowing that it was a HORRIBLE scam from early on?
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