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Apr 20, 2021
6:46:39pm
Pimpin4Paradise Intervention Needed
I can see why you’d draw that parallel. Here’s how I’d counter that.
1 - Safemoon is DeFi. Devs only have certain controls over supply while the liquidity aspect is handled by a third party.

2 - Safemoon is not promising you a specific return. You’re promised reflections that are completely based on volume. Low volume, low reflections.

3 - A Ponzi scheme takes the principal from new investors to pay existing investors. Bitconnect was set up to be a Ponzi scheme. It was basically fraud from the beginning. Safemoon Charges you a 10% fee to get in and a 10% fee to get out. Reflections are paid from this fee and not from the principal balance of holders.

I can absolutely see why people would be suspicious this is a Ponzi, but it’s missing the key element. Deception. Read the white paper and it’s clear that you’ll be paying both to get in and to get out. Those fees pay existing investors and provide liquidity to the LP. When you look below the surface, Safemoon and Bitconnect are nothing alike.
This message has been modified
Originally posted on Apr 20, 2021 at 6:46:39pm
Message modified by Pimpin4Paradise on Apr 20, 2021 at 6:47:04pm
Pimpin4Paradise
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Pimpin4Paradise
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