Bitcoin Forum

If this was really the cause, couldn't that be easily tracked by checking the balance of the mmm global address?  We should be able to tell exactly how much they've raised, correct?

what is that ? what is MMM ???
It's a pure ponzi ?

We can't trace that because MMM doesnt have a hot wallet and all they do is assign a BTC address to another member to send BTC, all MMM have in their data base is just the information of the members and how much members have invested. It can be traced if we can hack their data base.

Nah, I don't really think they are the reason for this.  :-\
lemipawa is right, the btc is sent from one to another, that is why they are called community sharing, it's like lending your money for those who need it at the momwnt while you earn interest from it and then you can get it back again if you request then same thing happens where someone else will provide the btc you need so no, it can't be tracked.

Someone from here should infiltrate their ponzi. 8)

Stupidest idea ever.  The Chinese are smarter than that aren't they?

You do realize how a ponzi works right? I see that you are promoting MMM Global here, let me tell tou if you don't understand how Mavrodi steal your money. It's a pyramid dude. Everone in the bottom will loose their money and all in top will get them. How can you say that it is not a ponzi?

This is true. I also did some basic tracking from Youtube videos, and most addresses were indeed just addresses from CoinBase, OkCoin, Huobi, bx.in.th, etc.

The other thing I consider, is that the "biggest users" of MMM Global are most likely the operators/owners (how else would they make profit?) - so potentially you can get the wallet of them with addresses from them. If you can see the transactions there, you could maybe make an estimation. But it is indeed not as easy as site/hot wallets.

As others already mentioned there is not really a trackable address for them that people can look towards
That said it is highly unlikely they make up all the trading volume that caused the rally.

I think its trackable coz i'm not sure but i think coins.ph have banned accounts associated with that website by using the btc address

Using coins.ph in MMM is against their TOS. I don't think they are banning accounts tho they are giving them warnings and even if they still violate their TOS I think yhey hold the account to stop transactions in it. It's untraceable not until someone would report it.

Good lord people, if you honestly think MMM is responsible for bringing in daily volumes of $150-$250 million for 2 weeks then maybe the Bitcoin community needs to re-evaluate how they communicate to the outside world if this one loser managed to bring in more new BTC wealth than anyone in years.

As I said many times before,  the potential is enormous but as long as people don't care nothing will happen.
As it stands now people still don't care, most people aren't even aware of the problems our economy faces and the ones that are consider it to be too big of a problem to be solved by them and think it's up to big corporations and governments to solve it.

Anyway,  mmm could very well be responsible and it's not because of one man. Mmm works by people for people. Many people buying small amounts of btc to help others in need. This easily gets a huge volume.

If you consider everyone planning to dump their btc when it's profitable in fiat 'not real bitcoiners' then the whole community is 98% non-bitcoiners...

I would bet my a** there are MMM investors here keeping silent and just watching how people here react with their scheme. They would rather keep silent than go into discussion. I agree with the statement of others here, lets just tell them why they should not invest in MMM but lets respect their decision in going into that direction since that is their way put food on to their tables.

Respect stupid, greedy people for being stupid and greedy?

Looks like this thread is best place for the following:

Some info that may or may not be accurate. Sergej Mavrodi, the founder of a monetary pyramid MMM that stripped many Russians of their meagre savings during the Wild 90's is back in action. Yesterday he said that Bitcoin is useful for his MMM projects operating from China, and that he can crash the price at any moment if he chooses to do so.

https://www.vedomosti.ru/finance/articles/2015/11/05/615733-mmm-sergeya
http://www.rbc.ru/finances/09/11/2015/564098689a794742da316379

I am not sure if what he says is 100% correct or if he draws attention to himself, but I wouldn't underestimate his ignominious "talent" for parting people with their money. To put things into perspective, compared to Mavrodi and his MMM, Karpeles and Mt.Gox was an exemplary honest company headed by a charitable founder.

Personally, I'd rather see BTC at 250 without Mavrodi, than at 500 with him.

The plot thickens.

Where does the main man siphon off his money if it's all peer to peer?

I think the rise of bitcoin from 250 to 500 is not just caused by MMM. Otherwise there is no reason for it to drop from 500 to 350. There is no news about the collapse of the Ponzi scheme.

The rise from 200 to 300 probably was caused by MMM and the rise from 300 to 500 by speculators who think MMM will drive up demand. Or the other way around.
That is not entirely without merit though as it would be boring if prices continue on their downward slope now and that ponzi could attract lots of people who have no regard for their losses because they think they can cash out before it collapses.

It's peer to peer via conversion into Mavros, MMM's centralized tokens/coin, the exchange rate for which is determined by the admin.

Sergei better start drumming up some new money quick or this ponzi won't survive the first month!!!!!

He's having some trouble with his new customers victims already, there was an alert on MMM Global this morning warning of people trying to scam by direct contact, pretending that transfers had been made.
I thought I'd screenshot it, but I didn't  :-[

That's not new in the MMM world, they don't rely on sending TXID as proof that an amount was sent to the other parties BTC address, what they do is screen shot the transaction and send the screen shot to the other party. Sending TXID is optional. I've seen complaint's in their Facebook Page about photo shopped screen shot, and some are even complaining about incorrect amount sent like missing a few Satoshis.