RE: Incentive trees and what we can learn from Bitconnect
Network effect. Read their mission statement. They are providing the same service to the world that Facebook provides. Their mission is to make the world open and more connected (the old mission of Facebook).
Our mission is to empower people financially and make the world more open and connected. This is the community of the people with a common cause to make bitcoin the most used payment system in the world.
All the people who say it is a scam never actually read the fine print on the website itself. I'm not even saying they will not shut down. Bitconnect exists to connect and educate the world on Bitcoin and cryptocurrency in general. It also exists to financially empower it's users which is something none other platforms can say.
BitConnect is an open source all in one bitcoin and crypto community platform designed to provide multiple investment opportunities with cryptocurrency education where it is entirely possible to find the independence we all desire, in a community of like-minded, freedom loving individuals who, like you, are seeking the possibility of income stability in a very unstable world.
And if you are afraid of Ponzi why are you in Bitcoin? Bitcoin is no different. Why do you use Facebook? It only connects you with other people just like Bitconnect. Maybe crypto is too risky for you and you should stick to the bank account where your government can keep you safe.
People are getting rich with Bitconnect. I suppose that is the reason why so many are upset about it being a Ponzi. If it were banks, Facebook, even early adopters to Bitcoin or Steem, no one dare calls it a Ponzi. I say it is tribalism and bias, which clouds the vision of people on the inside of it.
Anyone who is at the top of Bitcoin will claim it is not a Ponzi. Anyone at the top of Bitconnect claims the same. The truth is that all fiat are Ponzi and Bitcoin is fiat. I am okay with it being a Ponzi if it provides more opportunity for people than the traditional Ponzi banking system does.
It adds nothing to the world.
Financial freedom is adding something to the world. Education on cryptocurrency is adding something to the world. Bitconnect is doing both at the same time, promoting financial freedom while educating the world on crypto. So as long as it keeps doing that, it is doing what they said it would do, and cannot be called a scam.
Consider that some people in the world take the perspective that the government is never going to give them any financial freedom. That no one is going to save them from poverty. That everyone, including the Steemit whales, are working to keep them poor and dissolute. Bitconnect is so popular because there aren't a lot of investment opportunities which actually are paying people. Those ICOs aren't paying people, Bitcoin does go up but it doesn't pay dividends or provide income while it does, Steem doesn't provide dividends or interest anymore, so Bitconnect is the place to be for those seeking freedom.
I say until Bitconnect stops paying people, it is helping people achieve financial freedom even if it is doing it without the moral or psychological permission from the crypto government (Vitalik, you, and others).