I don't know about SALT and I don't want to go into lending but I KNOW that bitconenct is a Ponzi Scheme and @godcomplex a huge promoter of this platform...
RE: 📣 Do Not Invest in Bitconnect Ponzi 📣 - Part II - Mr Lemon VS craig-grant
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📣 Do Not Invest in Bitconnect Ponzi 📣 - Part II - Mr Lemon VS craig-grant
I was one of those people who considered P2P lending is a disaster prone thing to consider and I cringed at the existence of https://en.wikipedia.org/wiki/Lending_Club I'm not too big on SALT. I haven't done too much research into it. But I know you use your crypto as collateral. It's loans backed by assets. There is high chance that the loan may end up paying for itself.
All this is 100% sustainable and actually adds value to the world we live in. At least in theory it does.
That's the definition of ponzi.
Banks that doesn't charge for lending are ponzi. That's what wrong with the banking sector. The interest rate is non-existent or even negative. This is clearly punishing the savers.
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Say what? Tell me in what universe does is it ethical or does it make sense for us to lend money to the bank so the bank can invest with our money, yet we pay them a fee too so they can take even more from us?
A bank is supposed to pay interest to lenders off the profit they made with our money. It is our money right? Because of negative interest rates is why people love Bitconnect, because really it's not such a bad deal compared to the for sure screwing you get by banks.
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“The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.” - Satoshi Nakamoto, Feb 2009
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No, if I were a promoter I would have a referral link. Please answer my questions for why you do not want ordinary people to have the chance to earn crypto? If Bitconnect is so bad why is it the only thing crypto other than Steem which appeals to the masses?
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Stop spamming. This is a Ponzi, people are mostly ignorant when it comes to investments !
bitconnect promises that "You will see your investment back in a few months", so people think they'll double their investment in 3-4 months WIHTOUT risks. And this is why they go for it.
To be honest, to invest and not know bitconnect is a Ponzi, you have to be dumb. If you invest knowing it, you take a risk and could live with it after it falls.
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You never answered any of my questions. How is it okay for you to lend your money to a bank and also pay the bank a maintenance fee for that?
Tell me also how anyone can get rich without taking a lot of risk? You think people get rewarded in life without risk? You think you can become a millionaire without taking millionaire level risks? It is not possible.
So you always have to take big risks to get big rewards and just because some people are afraid of getting rich doesn't mean others should not have the right. This is about the right to earn and also about the banking system.
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I do not care about Banks, they fuck us I agree with you. Bitcoin, Ripple, ETH are alternatives to banks not BITCONNECT PONZI.
Taking risks is fine when it is not meant to collapse in a matter of months.
Now Go away or I start flagging.
Thank you.
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BTC doesn't pay interest or have a way to lend them your tokens. Ripple is as close to the banking industry as you can be. Ethereum is also close to the banking industry which is great for the protocol because their project is more ambitious than just a bank.
Bitconnect is a direct threat to the banking system as we know it. If they can keep it going and improve the technology why would people choose Coinbase or any other banking system over Bitconnect?
I mean if you get paid 1% daily interest then it is the way the banking system should work when you lend your money to it. You are supposed to get interest when you lend and 1% a day interest in crypto is actually reasonable according to the math.
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