Bitcoin Forum

Hey, folks, what do you think about all those decentralized ethereum pyramids which are shooting up like mushrooms nowadays? They say such projects are 100% decentralized (which means they can't be manipulated and admins won't run away with your money), transparent and quite sustainable. What do you think is it possible to earn some profit there? Or is it just another scam story only "in a different packaging"?

I think it’s more of a scam story
In 2018 especially since 2nd quarter, 85% of every dev of any project has a primary goal; which is to make a lot of money from exchanges

They mint those coins for as low as 50$ and they reserve at least 25% of total supply
I don’t believe in their promises, it’s more of a trap

Just participate in the trade and sell at the right time for you

You should have put in examples for references so that we could evaluate their claims based on their market structure. Also if they are promising a 100% return of investment and they are claiming that you could double your money with little to no effort then the would just mean that they are a scam. Just so everyone knows even the top MLM(multi level market) would need so much time, effort and money for it to work out for you as a profitable opportunity and the same goes for cryptocurrencies which added the risk of volatility that is why if these so called altcoin pyramids are popping up and claiming to double you profits without effort then that is a flat out scam.

I opened the https://coinmarketcap.com and I see that now there are already 2074 coins and tokens. Do you think this is not very much?)))) I’m really looking forward to the big exchanges finally starting to clean up fraudulent projects, but this will be soon. Centralized exchanges such as fraudsters as projects, buy tokens in large quantities and begin to draw any price.
Now the blockchain is 95 percent fraudsters (

Pyramids? like those scam schemes in real life?

No, they are not worth it. Don't waste your money with any of those. If you want to make profit with altcoins then just start trading. Don't be like those people that are into quick money because getting involve with those is going to put you to the bad side and even drag you to being scammed.

Usually when something sounds too good to be true actually is just that. It is just a scheme in order to make profit from people who'd think it's a potentially good investment. As new people are becoming a part of the crypto economy it is pretty normal that there'd be scams to take advantage of such individuals and it is their responsibility to be have knowledge about various aspects before considering any investments.

I guess OP means a project just like bitconnect or another ponzi ico which offers them all daily profit. OP looks like a newcomer in the cryptocurrency because he doesn't even know about the project that called bitconnect.

So many people are being scammed by bitconnect and this time it looks all of bitconnect creators have already arrested by the regulators.

Exchanges can't clean things up, no-one really can. All exchanges can do is unlist projects they believe to be scams but there are still decentralized exchanges. The only way these scam projects will start to disappear is if investors wise up and stop investing their hard earned money in to them..

Many people has been scammed these type of scam schemes in real life. If the altcoins pyramids are anything like the real life pyramid schemes then it would be wise not to get involved with. You should be vey careful dealing with these.

That's what he meant to say.

Nothing new and the same schemes that are rotating not only in real life, not only with bitcoin but also with altcoins. They are everywhere and they are the scavengers in cryptocurrencies that are looking for newbies that doesn't have an idea about their scam strategy. But today, most of those schemes are already exposed and I think investors should be responsible and needs to reearch before investing.

Yes, they work very well but you better try some bitcoin doubler website,or trippler! /Sarcasm off

Ask anyone who has invested in bitconnect if it is worth buying into a pyramid scheme. Even early investors are at risk, don't join in unless you have disposable coins to throw away

Altcoins really took the path to being a pyramid scheme in 2015 when seeing it's potential manipulating investors started investing in bitcoin.
This rose the price of bitcoin unnaturally to an unsustainable price, the next year, the so called ICO fundraisers multiplied the pyramid scheme by a 100.
And the bubble has been burst in 2018 and coins are getting back to their natural prices.

I don't recommend to enter altcoin pyramids on Ethereum blockchain because smart-contract can be changed by owner and you will loose your ETH. It's better to invest in new good blockchain projects with working beta-verison of their products like Experty or Xaya.

You have to be more careful in determining investments, especially with the pyramid scheme that promises a good return on investment without effort, for me it doesn't make sense and I categorize it as MLM (multi level market). You have to be realistic in choosing a project, you have to find out, where is your money managed? and which profit do you get from? because now and in the future frauds that use crypto, will increasingly occur.

Undoubtfully, all pyramids lead to deceptions. I'm always sorry for those people who trust them! I know many people who managed to earn on pyramids but that money is dirty for me, and I wouldn't like to deal with it!

Technology is not mature enough to satisfy daily technology needs. So most of the project know that they are not capable of doing what they write on their roadmap.

on my opinion ,
i can say decentralized its not fully like the name.
yep, for me its seems like the newest name for shit scam.
but well
by time , all of fake decentralized will be dissapear.
hopefully we not choose the wrong side.

A lot of ICOs now are pyramid schemes where you can invest your money and lose it all if you are not careful. Can you imagine the Ethereum price itself can be manipulated? The Ethereum price was at $1400 last January and today the price is only $200. So be very careful where you invest your money nowadays.

I think it isn't a good way for investing. I suppose much better is trading or holding any crypto.

I would stay away from them like the plague. Always only a very few winners in such schemes. Even in this space the risk does not justify the potential reward

yep, they are pretty fair (if it is really decentralized).
I participated in a project and took some profit, but again, a question of research

Ponzi schemes are forbidden to run in most countries. Not sure what else you expected to hear from us?  Out of so many good projects you are wasting your time on few 100 years old ponzi schemes?  you are really amazing.

I think it is not wise to invest in a program or a project where you know that it is not backed by any real business or service, investing in such projects is like gambling either you will make good profit or you will loose it all, personally i will suggest to stay away from such programs, just donot feed the scammers by investing in such projects.

Admin doesn't have to run away with money, these pyramids are unsustainable by their nature and they will stop paying when new investor doesn't send money.
I don't know who told you they are sustainable but it is not true.

I think it's all just for profit, and they create a variety of ways for people to believe in their projects, and at the end of it they benefit

In my opinion, any pyramid scheme weather centralized or weather decentralized is a pure scam,  there are never enough people to keep it running forever, so one day it will stop and all people who are into this project in certain time will lose all their investments

As for profit, this is certainly a controversial situation, but the fact that you don’t lose your investments is a good thing. I think that many things will change in this market today and investors will be more protected than at the moment.

In some sort way, it is profitable, because at first, surely there will be a massive fomo to happen. But I am more worried on a long run. Because surely it will collapse asap. It is a good gamble with a high risk. Better to take caution on it.

You should understand that participating in ponzi is a very dangerous. You probably will lose your money because only early participants of the pyramid scheme will earn money.

the altcoin pyramid scheme continues to arrive and most of them are on the ETH platform with smart contracts. This gives an unreasonable price growth until the end of 2017 but currently has started taking sideways and will be stable at the price of $6000

From what i am read, more than 80% not success with their soft cap target. I am always believe there is profitable ICOs but we should doing research first and i am believe too that many scam ICOs in market

I've seen people who do in pyramids like the X3-5 and I think it's very risky money because a lot of people lose their money in these pyramids.

Ours is pyramid,  there is no guarantee whatsoever that these programs can last brother get you any profit.  The moment the program is based on using new money to pay older investors,  I will advice you run from such program.

etherology pyramid, this type has a class comparison, the strong will control it. about fraud I don't think we are still researching it. what is clear is that everything returns to speculation

I don't think they are worth it!
but there's always a chance, but at your own risk so you would not be so upset when loss it all.
I would buy a little, just like a lottery,
good luckkk

Now people began to understand that this is not the best investment. Priorities are changing now.

Many people begin to think that such coins it is bad coins. Many people think it the financial pyramid disguised cryptocurrency. It is necessary to buy the checked coins.

Everything can be, no one is immune from fraud, especially in the early stages of the project, to recognize the fact of fraud is very difficult.
It is difficult to say at once that this project is a fraud, and other promising, it will take time.

Scammers are getting wiser and people still don't want to learn except after they have fallen victim. Any investment that is based on a pyramid is a scam, one day the system will no longer be able to sustain the pyramid and it will come crashing.

Of course, most coins will disappear a year or two after the release. But some projects are quite good and can bring good profits. I think it is worthwhile to study them as much as possible, and then it will be possible for Mono to find a quite good project that will bring good profits.

If it's clearly a pyramid and nothing more - stay away, since its crash is imminent and you will probably be among those unlucky who lost their investments and time. Pyramid is a scam, everyone knows it. However, I do believe that some referral programs might be fair even if they are built in the form of reaching certain level. The problem with a pyramid is that eventually there are no funds to pay the rewards, people start getting anxious and try to withdraw their money, but it's too late. If a company has a real product and receives constant income, a referral program probably can be alive forever and let everyone profit. But that's still risky and I am not sure this is the way it works.

I lost bitcoin on 5 HYIPs and now I stay so far away from them and have anger towards them. Be careful out there guys. Scams are around every corner in crypto right now.

Only worth if we dive at the right time and also run at the right time. But in crypto hard to say for anything. Just matter what people think. Most of the love it so it's good to take chance of it also.  ;)

Now almost half of the crypto-currency market consists of centralized coins, even initially the coins that were decentralized, are now in large numbers in the hands of a certain number of people, so I do not think that the new projects that are coming out now will be decentralized.

I don't think we can find out any good project like that in this time while everything is very bad. Sometime said always much easier than done, they can easily make up a great future for their cryptocurrencies and their projects but we don't know if they will do the same as the said or not. For me, I don't believe in this kind of project :))

it's better to avoid projects like that, and encourage your friends or people to stop following such things, if we keep following them, that means we also support the team to commit fraudulent actions, even if we are not affected by fraud.

Everything or every new development, no matter how genuine it might look, should be put to test. Do not trust all that you see.
It is even my first time of seeing this (ethereum pyramid) and there are so many of them, which is what my make me loose interests in it.
If there are so many of then, then what is the success story so far?
If there are no evidence of good reports, then it is a no go area.

I do not participate in any ponzi scheme projects as they are not transparent  and it is only matter of time
when you will be scammed. I avoided Bitconnect for the same reason, luckily.

Do not be fooled by the good mouth they speak about their projects. Always make sure that you can verify the details that they are bragging. Always avoid those projects saying that they have a good profit return, because most of the project that says that turns out into a scam project.