Bitcoin Forum

Hello newbies,
Typically a noob starts out by mining.  Eventually, you have to ask, is there a faster way to earn a few bitcoins? YES, THERE IS!
The answer is BITPONZI (http://bitponzi.net).
Ponzi schemes are a scam, we all know that.  But did you know that an honest Ponzi scheme which calls itself a Ponzi and makes its rules clear to all users can be a good source of bitcoins?  BitPonzi is a site where anyone can make their own Ponzi scheme!

Rules
1. Initial deposit is made.
2. People invest.  A portion of their deposits goes to the jackpot, and a portion goes to the house.  The rest goes to the pot.
3. When enough money is in the pot, the first unpaid user gets paid their deposit plus a specified return.
4. If the game ends, the last user is paid the jackpot and the first user is paid the entire pot.
5. The game ends when nobody has deposited for some period of time (expiration method 1), or when X hours have passed since the initial deposit (expiration method 2, called fixed expiration).

BitPonzi is a gambling site that allows you to adjust risk.  If you have a bitcoin and you want more, start your own game (http://bitponzi.net/NewRound.aspx)!  It's risk-free: if nobody deposits, you get your money back!  No fees for unsuccessful games!  If you are ready to take on some risk, you can start investing in other games, where you may or may not be paid out. 

BitPonzi is a great way to start your bitcoin experience with a decent-sized wallet.  I hope I see you soon on BitPonzi!

Ok, makes sense so far.


Welp, found a problem.

Not really. I mean, how bad could they be? The owner of this forum, Theymos, advertises them in his sig. Must be approved by the Bitcoin horde.

Please explain how a Ponzi scheme that calls itself a Ponzi scheme is more of a scam than any other gambling business.

It may or may not be more "honest" and less of a scam than other Ponzi schemes, but I do have to disagree with


It's actually a great way to lose your bitcoins.  :P

No, I emphasize: If you stick to only creating rounds and not depositing in others, you WILL INCUR NO RISK.  Of course, after a while you can choose to gamble with your earnings.

It's a pyramid scheme that calls itself a ponzi scheme, actually.


taking advantage of others to make money, a true bitcoin business.

Would you rather I called it a pyramid scheme? OK fine, I will.  Whatever.  Doesn't any casino take advantage of others to make money!?  Do you simply have a problem with gambling in general or something?

Wait, wasn't bruce wagner a big proponent of mybitcoin?  and then mybitcoin mysteriously disappeared with everyone's money?  kind of like a ponzi scheme?

You really don't think it's bad for 'the community' that the majority of bitcoin businesses are people enriching themselves by taking advantage of others?  It's the object of the 'game,' to take the jackpot from the other players.  Take from many to enrich the few.  Do you know why most communities DON'T want casinos built nearby?

And jesus, the name.  Hey, sign up for BITCOIN PONZI SCHEME!  WE TELL YOU ITS A PONZI SCHEME, SO YOU KNOW THAT ITS LEGIT!  Do you realize why "Ponzi Scheme" has a negative connotation?

Enrich the few? This is an opportunity for anyone to join in on the enriching!  Nobody's forcing you to take risks.
Ponzi scheme has a negative connotation because ponzi schemes used to be fraudulent and weren't considered gambles.

why don't we look at the scheme in your sig? 

Hmmm, one guy wins, 9 lose.

So you get paid, the winner gets paid, and 9 others lose money.  90% of the players lose in this scenario, and yet you think it's a good thing, because the guy who started it gets the rake.  So not everyone has a risk-free source of income here.

Ponzi schemes ARE fraudulent, hence why they are illegal.  What is so difficult about this concept?  No, no, you see MY ponzi scheme is different, I promise.

No one with a functioning brain stem would willingly buy into a ponzi scheme or a pyramid scheme.  But then again, this is bitcoin.

lol 2 guys won.  but close enough. why do people buy lottery tickets? are lottery tickets illegal?

Lottery tickets are not a ponzi scheme. Did you complete 9th grade?

Nowhere does anyone ever say, as far as I'm aware, that lottery tickets are "risk-free" either.

Hey Guys,

Really not my thing, but then I'm NOT a gambler.

Morphing

Can nobody understand that if you are the round creator, you aren't subject to risk!?

But you see folks, drug dealers are a good thing!  There are no negative effects on the community!  Everyone involved is making money, it's a zero-risk business!

As long as there's no coercion, the free market is a good thing.

bump!

Why would anyone expect people to fall for this?

It's not a scam, there's nothing you're "falling for."  mb300sd is a reputable member.

You've got it all wrong, you see

I made 7.5  bitcoins last night working a game with my bot.

its not gambling if you do it right :)

Mybitcoin was linked off bitcoin.org... that didn't make them any more safe to be trusted.

This bread makes me lol.  :D

Omg this is too good to pass up. I'm on board!