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http://cryptoconspiracy.com/overnight-major-ponzi-scheme-cryptcominer-finally-absconds-with-over-70-btc/ (http://cryptoconspiracy.com/overnight-major-ponzi-scheme-cryptcominer-finally-absconds-with-over-70-btc/)

Well, why am I not surprised? I was only in it for the sig campaign :P

Thats why im sticking with Primedice as long as I can, one of the few ways to go about making BTC. Hope no one lost a lot of money around here. I would have stick to their ad campaing as well. I would be butthurt if they didn't pay at the end of the term tho. The ones currently in the campaing will for sure not get paid after this.

I can't believe that people are so stupid. I cannot see any possible way that the returns cryptominer promised it's investors would have been sustainable.

Yeah dude, don't do the ones that claim to pay at the end of the month and stuff

You are not surprised because that is what ponzi's do. That was the endgame.

It was even mentioned in the article that cryptominer was offering 130% investment returns for only 5 days right before they ran away with their "investors" money.

I guess we can summarize and say that no one was really surprised.  I'm guessing that even the majority of "investors" realized that it was really more of a gamble than an investment.  I mean, if you gave the dude 1btc early on and cashed out with 1.3BTC after five days maybe you were happy and never went back.  On the other hand, maybe you were hooked and kept "reinvesting".  Anyway, I think there's really no news here, moving on ...

I agree. What the investers, err gamblers were doing at cryptominer was essentially betting when they would finally crash and burn, and run away with investor's money.

What the article describes them doing kind of reminds me of people taking out "confidence" loans on here in order to gain trust. People would take out loans for the sole purpose of "earning" trust only to eventually take out a very large loan and disappear.

ye i gave them some free advertising as well (i joined late, so didn't even make first payout)

you have to be pretty retarded to deposit any real money there anyway

The user
dkann86

is most likely a bot or fake. Every few hours or so I saw that guy depositting around $2000

Also how did they come up with the fact that they stole 70 BTC? If the deposit wallets are unknown?

Earn 3%+ from a bitcoin investment per day.  A scam?  I'm shocked it collapsed  ::)

This forum is overrun with Ponzi schemes and the accompanying sycophants

That many people fall for it?

Sound like a good ponzi for the author if he made 70 btc with it.

Yes, in a sense you could say he did a good job.  On the other hand, it's kinda a shame that people let him get away with that.  I don't really know how to feel about this.

signatures were paid really high. But was worth fro him.

There are several ponzi scams popping out every week but people seems to forget the past.

you know how many times I screamed they were luminine and no had listen, oh but because he was paying daily means hes not a scammer, seems like scammers are using sigs to get there scams done these days.

If they can make 70 btc per scam and do it once a month, that's not a bad living!

That's just from one wallet
https://blockchain.info/address/1BaqXw9tWkcQvjqeQTzk7beUfF4NZURZtv
 (https://blockchain.info/address/1BaqXw9tWkcQvjqeQTzk7beUfF4NZURZtv)
There are many many more out there

Praising a scam in your signature makes you a scammer in my book, no matter the intentions.

Funny,  I guess people like you mean that I really do need to change my text under my name to "signature is a paid advertisement, not personally endored".  I figured that was too obvious to worry about.

Some businesses penalize you for adding or removing data, therefore writing "Vendors not personally endorsed" would not be allowed.

I think you're referring to modification of the signature.  I'm referring to the quote under my name on the left.  For me, it currently says "I will write code for bitcoin."

Seems obvious to me that signature ads are not necessarily endorsed by the people with the signatures. They are just a way to make money. People should do their own due diligence. If someone sees a link in a hero member's signature and thinks to themselves "ooh it's a hero's signature, it must be legit, let me throw my money at it!", then they honestly deserve to be scammed out of their bitcoins. Maybe they'll learn from it and be less likely to fall for a scam in their future dealings.

Cryptcominer was a 100% completely obvious scam/ponzi/HYIP.

I couldn't agree more.  Someone who throws money at sites on the internet without doing due dilligence is going to get hurt sooner or later.  Hopefully they learn the lesson without too much losses and move forward.

Why is this even news? Everyone knew this was going to happen.

I agree. This is the same concept that you should not "trust" a hero member simply because of their ranking or their number of posts.

I don't think that people needed to so much do their due diligence in this case, but rather they needed to use common sense to say that there is no way that this could have been anything other then a ponzi

It is news because of the amount of money that was stolen. I think it is also interesting because, unlike many other ponzis, it stopped paying out at a strategic time when they had a lot of money, instead of siphoning off smallish amounts of money to pay for the con's expenses and only collapsing when there is not enough money to cover investor withdrawals

No need to change anything, I would not take investing advise from anyone on this forum.

Still, I compare getting paid for signatures to getting paid for praising something in real life. It means that you are for sale. And here it is pretty cheap.

70 BTC?
That is a lot of money.

People should have known from the beginning to not invest over 30 thousand us dollars into some website that is obviously a ponzi. There needs to be someone designated to put a giant red flag up on every one of these HYIPS

I think people were likely trying to "ride the wave" in that they would try to earn a good return off of the ponzi in it's early days with the intention of withdrawing their money by the time the ponzi was to collapse. I don't think they anticipated them offering a "really good" deal (offering 130% returns for only 5 days) and then simply running away with the money