Bitcoin Forum

Ponzi schemes may not be everyones cup of tea when gambling for profits, but this type of fraud has been one of the main criminal activities that has tainted the name of Bitcoin. Ponzi schemes may be seen as a form of investment by some or a form of gambling by the majority but one fact has been cemented, Ponzis are here to stay.


Read the full story exclusively below

http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/

Cryptodouble (http://goo.gl/1guh16) has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble  ;D

Of course you are posting your referral link and will make money off the stupid people who click on it.   :-\

what's interesting is that they aren't hiding the fact they are ponzis...just blantantly shamelessly promoting them.

Check the Gambling section,you will find a new Ponzi with 700 BTC played within 2 days , you can see how greedy people are.

What makes ponzi schemes connected solely to bitcoin? It seems to taint btc reputation and in fact, there are even more ponzi based on fiat. If it is too good to be true, avoid it.

But that doesn't necessarily mean it's safe enough.

It is another ponzi scam. Just because they are paying out today does not mean they are going to continue to pay forever. They eventually will end up running away with investor money

I think the reason that bitcoin sees so many ponzis is because it is so easy to hide your identity when dealing with bitcoin 

Plus, people are blinded by getting unrealistic returns for any length of time. I get that people want to add to their stash of bitcoins but when you'll inevitably get burned time and again by engaging in activities like this is becomes obvious that the best way to secure your stash is holding what ya got and having a job so you can incrementally buy more. Be smart not greedy and you'll save yourself getting ripped off.

Do bag-holders need a new bag to make life more exciting?
I don't understand the repeated attraction to Ponzi scams, since casinos are for gambling and trading/exchanges are good for a risk where you can actually make money in the long run.

Just like there were plenty of scams at the beginning of the internet. People will get smarter and eventually learn, it just will take time.

Tripling bitcoin in negative 2 hours, minimum of 1000 btc, send to my address in sig to get 3x back in negative 2 hours. brb

THE SATIRE IS HEAVY

I know, and with the recent addition of 'fees', they provide a great incentive for someone to run one.

Even in the crypto world, they are all over. It just seems like every other altcoin that pops up is one. It is either that or some other PnD. It's sad really when there is so much more to be gained with trust in crypto instead of people getting worried about the next scam.

cool website: "crypto double"   :D haha

just imagine what scams will happen when we reach a market cap of 40-50 billions in BTC. alot more than today. you cant change that unfortunately. the good grows and the bad too.


i estimate that Paycoin/Paybase was the biggest Scam/Ponzi Scheme after mtgox.


http://img7.myimg.de/Unbenannt18f79.png

 ;D ;D ;D

It's the appeal for what seems like really easy profit. Everyone thinks they can get in early and believe they have gotten in early when they first deposit. Once a return is received, they try again with a larger amount maybe and continue until it's too late and they haven't realised that they won't be getting their deposit back.

Then you should avoid bitcoin in the first place.
Bitcoin is too good to be true. It's almost perfect.

Hustle hustle aint it what the games about?

one of these %%&* heads got 700btc just last week lol

Greedy people want a quick get rich fix so they get penetrated which should atleast teach them after a few times  ::)

you forgot to say that on EVERY ponzi scheme only the fist guys who join will get some $, rest will be scammed....


thats it ;)


they dont need to hide nothing, everybody know they are a ponzi and people still invest on those things....

we can bet about how many time this web will be online untill colapse :P

That are same as gambling. People know that they will lose all money if keep play but why they keep insist to play? That because people only think the profit afterward without think about lose money

Until there are no more suckers to send money to pay 1% weekly for someone. At most when all world is on it except one guy.

Won't last longer than any other ponzi

Yesterday I saw 3 ponzis posted on the gambling section. And within minutes they received 5-8 BTC and the funds were locked .The threads are locked now as well.
Despite the risk of losing money in a ponzi people risk losing money to the  person running them as well.

People assume that most ponzis are going to pay out to their investors for some short amount of time in order to build up confidence in their scheme. They are essentially gambling that they will be able to exit the ponzi prior to the operators running away with investor money.

What people need to realize is that investing in a ponzi has a negative EV because the operators are eventually going to steal investor's money

This is exactly the point for doing Ponzi with Bitcoin. Bitcoin is really just starting. Bitcoin has just started making inroads into the economy. Bitcoin is tiny compared with all the fiats of the world. It will be decades before a good Bitcoin Ponzi fails. Those who get in now will wind up becoming rich.

In addition, since many folks love a Ponzi, pushing Bitcoin in the direction of Ponzis, will help it spread, worldwide, faster than ever.

Do you want Bitcoin to succeed? Look at all the people who play lotteries around the world. Design and implement a good Bitcoin Ponzi.

:)

Interesting read. I think what we need here is a clear explanation on what a ponzi is, to inform new users who still can't differentiate a ponzi from somethig legitimate. I agree with the article.

Ponzi's are fine with me as long as they are honest and don't leave anyone without paying them back, which in most cases is very hard to do.

That is mathematically impossible. To be able to pay everyone, you need an infinite amount of new investors.

What seriously people fall for this crap? It gives me ideas as i believe money/digital numbers should be in the hands of people that cherish multiply and on occasions get abit sweaty over them  :P

By definition, it is not possible for a ponzi to pay all investors all the money promised. A ponzi will not actually invest investor money but rather will pay early investors with money from later investors (while using some kind of mixer in the process of course) 

1% = 1 week
52 week = 1 year
104 week = 2 year = 104%

So need 2 year + 6 days to get all our money. That what you mean?

There are always a lot of "newcomers". Many of them happy to jump into every kind of shit in hopes of making a few quick bucks.

It's quite worrying that lately there are a couple new Ponzi games popping up on the daily basis. People seem not to learn...

I dont get it! how r ponzi's still on the rise?? there is enough info abt whats gonna happen in the end..ie. ppl losing money.!! but still they r running successfully! HOW??  ??? ???

Greedy people that are realllly stupid.

A fool and his money are soon parted

Wait, I haven't been following all the ponzi threads but wasn't it accused of scam by some users on the forums ? Or were they only late investors who didn't get any money ?