Bitcoin Forum

https://twitter.com/btcWhaleclub/status/718537083434987521/photo/1

It won't be missed. ;D

oh now the drop in BTC price is making sense, MMM guy is cashing out his winnings

I can't believe that people be deceived with this shitty games...

Yeah well, it doesn't surprise me in the least, and good fucking riddance I say.  Farewell and I'll see you in hell.

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

MMM was more that just a game

https://www.youtube.com/results?search_query=MMM+bitcoin
https://www.youtube.com/results?search_query=MMM+philipines
https://www.youtube.com/results?search_query=MMM+south+africa

Honestly, just look into Sergey Mavrodi, this guy has a history of creating ponzi schemes with epic proportions.

Bitcoin ponzi on a global scale. Exactly what people fear when first starting with bitcoin, and have their doubts about its anonymity.

I really hate these scammers.

How is it making sense ? Many ponzi schemes collapse every day ,don't know how bunch of people can affect the the prices ?He cashing out his winnings only means he is releasing the coins right ?

Oh my my friend is putting big btc their and it is stuck and he cannot get his capital in MMM feel so sorry for him. I think MMM  is collapsed due to few of investors giving ph and i think their past investors is running and do not comeback to provide help for others.

What kind of people are naive enough to put their money into scams like this and expect anything except to lose their money?

Greed is one thing, but this sort of thing is just stupid.

Big mistake for him. That's what happen when you put too much trust on a ponzi scheme. It's not about the investors, if the owner already plan to steal the money you can't do anything. Why would you trust people that you don't know?? I can't believe there are still many of you people believe on ponzi schemes.

lol people know its a ponzi right from the outset. there is no such think as a trustable ponzi scheme. the only issue is that people stupidly put funds in thinking they are the early birds who are able to get out before the late arrivals try.

even before trying to find out who owns the ponzi the investors should have realised it was a ponzi and fully understood what a ponzi is, and then avoid it

i don't have any more information other than what i have read on the speculation board about this ponzi called MMM, but it is not like those Ponzi schemes you and i see everyday (doubler,...) it was on a bigger scale with some elaborate scam.

although as i said there too, it is not going to have that much an effect on bitcoin price.

Well, most of the time, people who 'invest' in a Ponzi always said, "as long as they still pay, why not take the risk/chance?". Then, they cry over spilled milk when the Ponzi shutdown or after they ran away with 'investor' funds.

MMM was huge but IMO it's not worth speculating based on its closure. It's hard to know if the operators ran away with funds of significant value, and even if they did I'm sure it's be hard for them to cash that out through regular exchanges, especially in a way that would crash the market, that'd create a lot of noise which is something they'd want to avoid in that case. IMO if MMM is gone for good now, it's good for bitcoin because no more people will be introduced (or keep using) bitcoin solely for such a ponzi scheme.

Many people try to scam people through MMM schemes. i just wonder when people know that these schemes will cheat them in the End, why they invest and trust these sites.
I havent known any MMM scheme which is trust able and actually pays people. Drop in bitcoin price is temporary.

Seriously though, do not invest to any websites like this one. I've joined 3 sites that were MMM alike. All of them are scam site. Some of them might pay on the start. When they get their target money, they will just close their company.

You joined three such sites ?? Did u loose your money ?
I mean if u have invested in them, you will not be able to recover your hard earned Bitcoins. I think we should start an awareness campaign amoung all bit coin users so no one fall victim of such sites.

Yup, all of them. MyPayingAds is one of the three. It paid on the start and then they kind of had this 'problem' with Paypal. The owner, Uday Nara, won't even reply to my dispute requests. The other two, I can't even remember the name of them.

Yeah we should start that awareness campaign. I have a group on facebook about bitcoin and almost all users always fall into those HYIP websites.

If somebody promises to give me 100% per month, come on, I have to be realistic.
There must be a catch. If I lose my money, it would be completely my fault and I could not complain in any way.
Those investments keep the ponzi makers coming over and over again. So don't be too greedy.

There always is a catch. No doubt about it.
I'm happy that another ponzi flipped belly up :) No remorse for investors from my side.
Any one starts to bitch about being scammed by those sites, well deserved it.
Greed shuts peoples eyes. Why pyramids are illegal with fiat, why they flourish withBTC,
investors should ask themself those questions. There is no such thing like free income.
Someone said (some ponzi runner on this forum) that ponzi is a form of gamble, NO it is not.
Common thievery-that what it is.

I think that the biggest financial pyramids, fiat or bitcoin or what ever are provided by special/secret service.

 

Ah, finally there will be no more MMM spambots. This is a good day for Bitcoin.

Nonsense. The price is barely moving.

No, their spambots were still active just in different sections (so it was alive at the time).

Apparently, there are still people who as naive enough and believe in these schemes. If that wasn't the case, our current ponzi section would be empty.

it was the biggest mistakes from your friends why putting so much BTC just from MMM ponzi but this is the risk of ponzi sites and he should be realized these before regret his decisions i think he will not get his money back because these company was already shuts down

Wow the reason why I got to know btc farewell scammers I hope those who also been victimized by these ponzi will be happy maybe saying thank you for introducing btc but please give me back my money. :'(

Finally this biggest ponzi MMM go down. Actually my friend got much bitcoins from here, and it's really good for early stage. But in the end ponzi always ended with scam.

The old question, this will never happen to me, i will withdraw the money before it crash, yes i know it is a ponzi but i will have lucky..... people will never learn, well, i guess that, in any point, everybody was so innocent like people who invest on those sites, lets hope people learn the lesson after this first fail...

Well this could explain yesterday's drop of about 2% right?!
Good to see this scheme collapsing. But I don't want to know how many people have lost their money.
I'd guess a lot.

MMM always extend their collapsing period and claim that they have a long paying period to earn much more than expected AFAIK.
this sign is the end of ponzi, not even a warning. no more MMM then less spam needed to handle.

That's crazy. Was it run by Mavrodi?

Yep, a fool and his money are sadly parted on a daily basis I'm afraid.

Glad to hear that, this kind of bad thing should be taken down. I hope this will illuminate people's mind to not investing to this kind of thing anymore

Exactly! I don't know how is dumb enough to invest in something like this, where they find such people.. All forum talked about that ponzi, a lot of smart people said it is a big scam. And again people fall and empty promises. I don't know how people get information's about services before investing money they need to search more. But sometimes I'm not surprised when I see how much people are lazy to read all comments.

I'm glad it over now, I hope people will learn something from this.

It was quite low, then went up as they traded more and more (to around $1200), then crashed when they ceased trading in Russia, then went up again slightly as they started trading in China. The down again when China banned them, then slowly went up again as they opened their doors in South Africa, Singapore?, and wherever. Seems to be a direct correlation between BTC and MMM trading.

Will the price slowly go down again as MMM trades slow?

So it was still going till this time? ::) I guessed it's death way back.


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