RE: Valuable lessons you should be learning EVEN IF you did not invest into Bitconnect!
That's right! Personal financial responsibility, one must do their research and make an educated decision. Problem is most people do not want to do that.
I invested in bitconnect and I even made a good return on my money.
The whole time I told people that I invested in a pyramid scheme, at some point I expect it to blow up. I only put in "Vegas" money and that is all anyone should put it.
However, I knew making good money was possible until it blew up as long as I pull out profits regularly as oppose to re-investing profits. That is what I did, people told me I was missing out, but was I?
Due Diligence, access the risk and then decide if an investment (or gamble) is right for you. Relying on others (read: the government) to make you whole is a recipe for loss.
See, now that was smart. You took advantage of an opportunity "as a gamble".. and played with it cautiously. When Bitconnect shut down it probably didn't surprise you.. and you protected yourself the best you could.
That's true. So many people expect their "full refund" to show up one day, and it doesn't. Yes, people can get prosecuted for running a scam, but rarely do you ever see a full refund... (ok not rarely.. I'd say NEVER)
So if the government can't help you, and scammers won't help you... who is left? The investor has to protect themselves anyway... so it's best to learn about these things even if you weren't involved directly.
It's great knowledge to obtain when a scam goes belly up so you can learn from other people's mistakes and save yourself from making similar ones in the future.
Thank you very much for your comment @scaredycatguide