Bitcoin Forum

http://up.picr.de/23433531jw.png

MMM Global Republic of Bitcoin: Crypto's Next Scandal

https://letstalkbitcoin.com/blog/post/mmm-global-republic-of-bitcoin-cryptos-next-scandal

So finally they've notice it. I wonder why people keeps on clinging in a risky fast money scheme. :(

They try to attract users by pretending that they don't hold the money so they can't steal it... Read a little about it few hours ago besides their website is aweful!

This was mentioned as a reason for the increase in demand and price ... I'm not sure, but honestly wouldn't be surprised.

I had seen a few newbie accounts pushing this MMM stuff on here
Reported here and there but I figured that this would be a scheme.

can anyone can tell me that why the hell people don't do something for their losses ..new scams are comming everyday and peoples are just investing and lossing their money but no one is doing anything to stop this thing

you cant stop this from happen. the early internet was a paradise for scammers (still is). now we have the money of the internet BTC - that is the wet dream of these people. and we are just starting to see some immature scams - wait until bitcoins market cap is at 100 billions or more  :D

in the end you cant safe all souls. we can only warn people.

Yes could be the reason for price inclining or one factor of it.
I'm just annoyed to see another scam again which could damage Bitcoin's image again.The people out there who heard about Bitcoin already have a negative opinion about us or at least are uncertain because of the past happenings like Mt. Gox and several others.

I just hope this scheme doesn't attract too many idiots and someone tries to enlighten the dumb and greedy ones.

Here we go again.

https://en.wikipedia.org/wiki/Greater_fool_theory (https://en.wikipedia.org/wiki/Greater_fool_theory)

There's a lot of those MMM believer's in my country and they treat Sergey like a god. This scheme is like a ticking time bomb, anytime this can close and shutdown the accounts of members. Just imagine sending Bitcoins to anonymous person for a chance to get an interest of 20%.

20% is awfully a lot which should be the first tell-tale sign to warn investors to be cautious. I just don't understand why some people can be so greedy and are willing to take such unnecessary risk. If that would help, just read up their financial documents like the prospectus and financial statements or even understand their business operation. If they are scam, they will not be able to provide all that.

This is the typical greed rots your mind situation.Everybody falling into this trap is very naive and empathy from my side is very limited to them.

Unfortunately there's a lot of them, they targeted those that are in the provinces and now they are in the cities and urban areas and they are growing in numbers. Business orientation are scheduled almost every week.
Try to check their Facebook page and you'll see a lot of them. Yes they are blinded with greed of getting a lot of bitcoins.

Hope the recent price rise is not caused by MMM. ;D

Meh, just by looking at the promises of this MMM, I certainly know that is an obvious.scam. I just wonder why people keep sending them money though the promises seem too fishy and too good to be true. And no, this is not the reason why bitcoin had a price increase.

When the potential return is high, people lose their minds. They will over invest and create a bubble. The bubble will burst one day.

yes, but this come from the needed of people, when people didn't find a solution for his serious problems they start to do whatever is needed.

sad but true, so in the end they start to do crazy things.


maybe halving is comming ;)

That is about 8 month away.

That is sooner than it looks. Time is moving fast these days. ;)

F*ck this site i lose my $100 to that site. it never been paid me.. That site has many fake site from japan indonesia philipines and other country so dont waste your time to that f*ck site.... he use some filipino to invested there and you will be paid in the 1st but in the next you will be get scammed... promis me...

I've been seeing this MMM ponzi shit on our country for months and they just noticed it now :D They even held some "seminars" here in different places on our country. People here on PH were unaware that shit is a ponzi and yet still throw away some money there, knowing ly it's a legit one. But it somehow "helps"  bitcoin become more known in our country cuz I've talked to some MMM depositors saying they were introduced to bitcoin "because of MMM"   :-\

Yea i always there in seminars but they scammed mo f*ck that promising site never paid me... If i have time to hack this site i will f*ck this site. even theres a pinoy there...

Funny think about this MMM group, they don't want to use the word "invest" they call it "provide help", if your investment reaches it time to be withdrawn, they ask for "get help" or "withdraw", from that point those who want to invest will send BTC to those who requested for help. What if Sergey created like hundreds of bogus accounts so he cant have a piece of his creation without investing

Beware of this site "sus tangina talaga yang website nayan". I dont trust that site all my difficulties that i do nothings happen.. just f*ck that site.....  :-[

provide help and earn 1000 USD in 10 minutes  ;D - go for it!

it will come 3 months early, almost guaranteed, so let's say 5 months away

on the topic, there were some ponzi in the past that actually, were so stupid to reward those, that they have tried to scam, like cointellect  :D

Millions of simple people lost their money with MMM. I hope no one from the bitcoin community will ever follow the ponzi scheme.

How many times do we have to repeat to the people to stay away from any kind of investing in Bitcoin space at the moment. Too many scams, to much greed and in the end you have people that lose money everywhere.

Also, who loses in the end. Well Bitcoin ecosystem. Since these people fall to these scams with their stupidity! People beware and better keep your coins in cold storage.

I think in his mind that gets him off the hook legally. I can't quite see a court agreeing with that.

100$  :-\ why would someone put a big amount in such site?
Even in trusted investments i only put a few money in case it turns scam and invest from what I earned..
Let's hope people stop using it which will not happen soon  :(

I feel that when this ponzi crashes, since there are so many users of it, it will cause a dramatic drop in the price of Bitcoin and a dramatic loss of confidence in Bitcoin from the people who were only using Bitcoin for MMM. And of course the media is going to be all over it and bashing Bitcoin as they typically do.

Luckily I don't care about the price of Bitcoin. I care about its principles and functionality.

The MMM Bitcoin Ponzi is being run by Sergey Mavrodi who made $10 billion from a previous Ponzi he ran. He's targeting the South African and Chinese communities. Judging by the difference in price between the Chinese and European exchanges he must be holding millions of dollars of Bitcoins from the Ponzi. If he dumps he will crash the price, but more importantly give Bitcoin bad publicity.




http://cointelegraph.com/news/115425/btcc-ceo-bobby-lee-warns-bitcoin-investors-about-mmm-ponzi-scheme

Mavrodi's Magic Money has been around for a lot longer than BTC.
I can't see a "dramatic drop in the price of Bitcoin" due to its inevitable failure, why should there be?
There hasn't been a dramatic loss of confidence in the various fiat currencies that have been used for MMM, so why should there be in Bitcoin?

http://up.picr.de/23433531jw.png

Wow, they're on the ball aren't they? Where have they been for the last couple of years?

The price will crash because he will dump his investor's Bitcoins on the exchanges when the Ponzi folds. He must be holding millions of dollars of Bitcoins, or maybe tens of millions of dollars.

When he stole the investor's money from his previous Ponzi he could just move it between bank accounts. If he changed it to another currency it wouldn't affect the market too much because the currency markets deal in a trillion dollars a day. A billion's a drop in the ocean for them.

mavroni,i already saw his previous scam,very much adressed and advertiised to Russia,,Philipiness,Indonesia
It is quite well organised scamer group

The drop in price I think will come from all of the "investors" who will lose confidence in Bitcoin (after all, all they knew bitcoin for was for MMM) and immediately start selling off. This massive dump will depress the price.

For the loss of confidence in Bitcoin, a lot of people will have only heard about Bitcoin from MMM, and when MMM collapses, they will lose confidence over Bitcoin. Then the media will get all over it and somehow spin it so that Bitcoin is related to MMM and is also bad, just like MMM.

May I ask what convinced you to put money into it?

Looks like Mavrodi only recently discovered the magic of the bit market.

No way man. I would rather gamble with my coins rather than give it to someone I don't know and not sure if it will return with interest as promised. Unlike gambling, I know if I lose, I lose period, no one to blame but me.


That's what networkers or those who are into MLM are doing now, they are allergic of using the term invest because the Exchange Commission might  shut down their business for taking investments while they are not an investment company, while their members commonly use that term to encourage people to put money in MMM.

This was an obvious scam to say the least..
I've seen a bunch of their spam lately.

The site have a Warning that says "WARNING! THIS IS A COMMUNITY OF MUTUAL FINANCIAL HELP! Participate only with spare money. Don't contribute all the money you have." which is a good excuse if they decided to close. They can tell investors "hey! we warned you not to invest all your money"  ;D

Will a judge agree with that? That MMM scheme is a kind of Ponzi, no matter what disguising words they use to describe it.

I'm not sure if this would help in front of the court.This whole thing is a big house of cards collapsing one day.I don't how much money had been invested in this crap to this day but if Mawrodi closes the service and dumps all the bitcoins at once this could drop the price really hard I believe.And that guy has shown that he is able to disappear for many years.

Unfortunately here in my country MMM is considered as a must option to invest in. Well people are easily fooled by easy money. Specially with all the new programs that MMM offers like the MMM extra where you will get you money doubled in one month.
Although the community that supports MMM here in my country has never had any problems from the past few years, theyceven have offline fund raising activities to support charity. It is indeed a good thing to help others but I just hope these kinds of people know well enough how this kind of things will end up.

They are encountering problems now jacee and they are starting to clean up by deactiviting those that have multiple accounts and accounts that use only 1 btc address. They also have problems like those who send insufecient amount of BTC.

This Sergei Mavrodi guy did prison time for defrauding millions of dollars before and here he is, pulling it again.
At this internet age, it's amazing how people won't do even basic due diligence on the people behind the venture they are investing in ???

But then, even within the "techno savvy" crypto community, we see so many falling for scams perpetuated by known crooks

these get-rich-quick schemes are no worse than shitcoins created by scammers who promise you the moon

Some investors think that as long as the site is still paying it's not a scam thts why people still fall for this kind of schemes. it's just a matter of time, this system of Sergey will collapse again and we will see if indeed MMM made an impact on Bitcoins.

I see, well I am not aware of it so I thought they don't have any problems. I still think those members of MMM should atleast know the basics of bitcoin before they go on and use bitcoin as an instrument of their ponzi.  :-\

They are very much active in promoting MMM in FB groups for crypto currencies and easy money schemes.
They even have a physical branch recently opened near our place which is quite surprising because they we're able to get the needed permits despite being tagged as ponzi. I wonder what business classification it falls under... scams perhaps?  ;D

Recently a LTC ponzi was partly responsible for its rise to ~0.03 BTC. I wonder what effect this ponzi is having and will have on the BTC/fiat market. The guy has a pretty good track record of "success."

Honestly this ponzi scheme of Sergey Mavrodi is so appealing because of it's 20% interest rate for the investment but the risk is very high for your investment not to be returned as there is no guarantee.

I can still remember the first Ponzi I tried... I failed miserably because I got in at the end. There are people who like the adrenaline rush of high risk investments. I am not one of them anymore, because I burned my fingers too much.

There are also people like Sergei Mavrodi who are addicted to scheme people out of their money. They get some kind of satisfaction out of the ride, and they always think they are smarter than the system.  

Appealing for people who absolutely no idea economics. Everyone with a straight mind and a little bit of knowledge should smell the rotten fish here he is going to get.

Here's an MMM training video on how to join Bitcointalk and promote MMM! Just in case you were wondering, ha ha!

https://www.youtube.com/watch?v=6LtQ-jviaeg

Some one more competent in blockchain forensics than I could start to try to verify some of the withdrawals pictured in the videos. Someone with time and cash could try to pitch into MMM with small amounts and follow the money trail in the block chain. I think a lot could be learned about the scheme from this sort of research.

Oh! Geez Betsy. Say it ain't so :-\

Moneytobless@gmail. This is horrible and I can't stop watching.

This belongs in Scam Accusations


~BCX~

Considering the fact I have never traded with anyone here, ever, for anything I would suspect you are incorrect, as usual.


~BCX~

Geez Betsy. I was just kidding :'(

I'm seeing Brand New forum accounts being created with MMM usernames. Looks like they are really trying to penetrate this forum and promote MMM.
ingemmmglobal
AexrMMM
zhangshuchunmmm

all registered today.

It seems to be a fairly common pattern atm new accounts being created etc.
Even a thread in Meta about MMM at present.
https://bitcointalk.org/index.php?topic=1211825.0

There was a wave of this earlier in the year, after Mavrodi's Magic Money started crediting "Mavro Extra" to mugs who posted on social media etc.
I think we nuked about 50 of them.

https://bitcointalk.org/index.php?topic=1026379.0


The forum will do nothing, in accordance with its libertarian Caveat Emptor policy.
It's up to us as individuals, if we feel the need, to try and push back at this exploitative scam.
I'm doing what I can in various ways, get out there, don't just sit in here and moan about it, have some fun!
Fuck up a scammer today.

 ;D

There is a higher probability of getting all their posts pushed into the Ponzi section and banning them from posting in other parts of the forum

If its in Investor-based games then there is no reason to say that people would not know the risks involved.
Games where the main factor is whether or not new "investors" join the game. Also any Bitcoin-denominated investment product with an APY far above the reasonable market rate.

We may have to do something to educate people about the potential danger of Ponzi schemes like MMM. All the governments should do something.

Those people who joins this kind of ponzi joins not because they are not aware of scams or they want to be scammed, they join because they want to take advantage of the company while company it is still paying. They know eventually that this site will collapse and turn to scam

Well you are right in that point but then as these kinds of ponzi stays, as I have noticed, people don't get to really know what this kind of scheme is. I mean they do have a referral program right? I see plenty of greedy people who are willing to invite peoole to join in thier referral and ofcourse they will get an incentive from it. Now, the person who was referred was not fully informed that this is a ponzi. My point is, some people here could care less if someone elses gets scam atleast it's bot their money that will gone to waste.

That bolded part was very me right now whenever I invest on a ponzi, especially to those who were kinda newly launched ;D Just like the saying says " The early bird catches the worm". But I don't think most people who invests on ponzi were like me, still most people were not aware of how ponzi works and how it will end up. Those people were the innocent and greedy ones that want quick and high returns. One good example were the people here on our country that deposited on MMM, they still insist it's a legit mutual funding bla bla bla ;D

But they are not taking advantage of the company, they are taking advantage of other people who pay in later because of ignorance and naivety.
The money you or anyone else makes out of a ponzi comes directly from another person, less some which goes to the admin scammer.

If you prize money to that extent, then carry on, but you're part of the problem.
It's a shit way to make money imo, do something creative instead of being a parasite.

Well yeah you are right "they" are taking advantage of the others who don't know what they are doing since the only role of the company is to assign a BTC address to another member to send bitcoins and so forth and so on.
Just like when a new ponzi scheme is launched in this site in the Investor-based Game section, everyone here knows that it's ponzi but still people are sending coins.

It's not quite the same really.
"Investors and Games" is mainly people in the know who realise that it's an unsustainable gamble, but reckon they can win by out thinking the others (and hoping that the admin isn't just going to run off as soon as he has a few coins).

MMM and the other global stuff are different, they exploit unsophisticated and unaware people with their relentless lies and promises. Easy meat in a world where everybody is told they are nothing unless they're rich.
I'm not making a big deal about "morals" and "ethics", just to my sense of values it's a shit way to make money.

I guess I missed the sarcasm tags LOL


~BCX~

Well said, the creators of the ponzi only stand to gain from it.
Stupidity and greed will ensure this kind of schemes keep finding willing participants, even when they know their gains are other people's losses.
The scammers don't even bother to mask their identities or even change the scam's name now  ::)

That's why they go for poor neighborhoods with lots of desperate uneducated people, same tactic used by Herbalife etc.
This is like stealing from children, a special place in hell is reserved for these monsters.

They mainly operating now in asia. Indonesia is the top country that join this shit, I do some research in google and see that they have MMM Indonesia before that fail, thousand of people left unpaid but I dont know why these people is still stupid to join the MMM global

I'm somehow hurt by the bolded part cuz thats really what happening right now and you're referring on our country Philippines (  not only on PH but also in some part of Asia specifically on south east Asia.) Well that's the sad truth however I'm also getting annoyed with these idiots on our country still praising MMM , they even adore sergey mavrodi whenever it releases a new video for them speaking shit and sweet lies.

You sound like you are observing them silently from a distance through their FB page but yes they treat Mavrodi like a god and defend this scheme like they it's not going to collapse. You can even see them post their new cars, motorcycle and gadgets purchased from the earnings they get from MMM. I know it's bad to be happy when you see someone who suffers from an unfortunate event in life, but I want to see this MMM scheme collapse as soon as possible and I want to post on their FB page and say "see what I told you"

You are right. It's not a bad thing to wish for such ponzi scheme to collapse earlier to prevent other more users to be involved in it. Plus, it will eventually colapse so the sooner the better it will be for everyone else, those the members of it and those the people that they are trying to bait to joim their scheme.

Yep, I'm observing them for months on some fb groups and pages but not silently, I used to discuss and argue with them using fb dummy accounts :D Actually I am warning them but still they insist MMM pays and its legit, then stopped cuz I realized I am just wasting my time arguing with idiots ;D I also can't wait to see them whining when that ponzi owned by a criminal will collapse

Someone's paying attention as every time I tell an MMM themed thread to fuck off it's already been deleted.

The system works. :)

Those are mainly people who are totally uneducated in terms of Bitcoin. Calling them idiots and hoping for them getting devastated asap is a somewhat asshole-ish attitude. But maybe my ethics are just wrong, though.

This shit:

https://i.imgur.com/XoKrPcx.png

...is going to blow up in everyone's face at some point, and it will inevitably be blamed on crypto / Bitcoin itself, whether that's justified or not.

That said, for now, there's plenty of additional buying pressure, part of which might be due to the above activity, and that's going to influence price. Just as before: whether one likes that or not. Simply put, there are not 'good' or 'bad' trend factors in a narrow sense of market analysis.

Summarizing, a) I think something like MMM is absolutely vile (and I wonder why Facebook isn't shutting that community site down); b) the people that fall for it shouldn't be ridiculed, but educated / convinced that it's a bad idea to particiapte; c) an uptrend is an uptrend, even if it's influenced by less than brilliant reasons.

Well if that's so then so be it :D Maybe I'm an asshole ;D

But how do you call those people who praise and defend a criminal? Isn't that idiotic?

We must all remember that Mavrodi and his Magic Money have been around in fiat for far longer than they have been using bitcoin.
The whole fiat scam world is looking at using bitcoin for its obvious advantages to them re: anonymity and gray areas regarding regulation.

I did some youtube searches and found out that Sergei is very good at creating cult like followings for his schemes. He was invited to talk shows and people seem to find a statement like "I wouldn have become president if it weren't for the government shutting down MMM" acceptable.

Crazy shit.

Good thing i read this thread so i can be aware of this ponzi. MMM are also posting in local Filipino forums advertising and trying to scam hapless victims about their easy money making schemes.

There's a lot of Filipino members of MMM and they are promoting in bitcoin FB groups and forums.
You'll be surprised to know that they even have physical branches now.
They claim that they are not an investment site but somewhat like a lending site.

I do not like any Ponzi schemes. But it seems MMM is very effective in promoting bitcoin. So many people know about bitcoin now.

I can't understand Russian but perhaps there's someone here who can.

MMM does not, have you ever imagined once this ponzi scheme has finally collapsed? A lot of those people who has no idea what bitcoin really is but a tool or a fiat use in MMM a ponzi that they thought a shitty legal one will never go back into using bitcoin again unless they find another ponzi to join again. There is a risk for the bitcoin community also, do you know how MMM works? AFAIK what those MMM member does is just a pump and dump their coins. They are not really helping the bitcoin community. They are putting it's image in the center stage full of risks.

MMM will be used to lower Bitcoin reputation. I hate these things! I don't even imagine how many people will be scammed by this MMM but I hope this will not lead to any accusations towards BTC.

Don't invest in this scam

As I've always said, it's just a matter of time and this scheme will collapse, i;m seeing big investments in this scheme, I see 20 BTC being invested like there's no tomorrow and they are earning 20% interest from that, easy money for now, but after a few more months, I can see them scratching their heads asking what happened.

MMM still alive and spreading. I dont understand why in mmm fb group still inviting and giving few proof that he can recieve a payment from mmm. but the other say that the site is scammed then here in our country there are many branches and making a lot of members. I saw the video of mmm that what is the step making money in mmm website..  share and get help and you can earn a money... just like i watch in you tube...

He's mentioned "pause mode" in the past.
He's quite upfront about it, he says that if everyone wants to withdraw at the same time it will collapse lol.
And still they put money in.....
 ::)

that is what they are trying to avoid thats why they come up with high interest when you put your coins there and the longer you don't withdraw your coins the higher the interest... and a lot of them are falling for that. i would like to dare them for stress test, all of them withdrawing their funds and lets see how good are the staffs who puts them on queue for payout.

Sorta like how capital controls work eh? I'm not surprised MMM has transacted millions, lots of the money there must be making circles within the system.

sounds like something Josh Garza would be interested in. now find the link between this parasite and MMM ponzi...

The surname of both ends with a vowel? ^^

Why should he create fake account if he can invest as normal users to receive his 100%?
Why screw up his system with this trick ?

Someone will also explain where is the scam exactly?

I hope this is not the end of the story.

Also because there is no hierarchy in these scheme.

Disclaimer: I don't know Mavrodi but simply entering in the system working process

The whole system is a trick.

I have been watching the progress of MMM South Africa, a stream of naive victims with very little understanding of what's going on, just Mavrodi's cynical lies as hopeful way out of poverty. It's quite sad.


The scam is in the centrally controlled value and convertability of Mavros. As soon as the pyramid peaks and begins to fall in on itself, the shitcoin/token becomes what it was all along: worthless.

This is not answering
Exactly! There is not a pyramid. Every participant has his role for exactly  two moves. Every time is like is beginning again
But you are also right because of the central control.
Honestly I think this can be overpassed in case Mavrodi is not fair

And where do you think your 100% interest per month comes from?
Mavrodi admits there is no economic activity. It comes from other 'investors'.
Do the compound maths sometime on 1 BTC at 100% per month. I'll do it for you, after one year: 4096.

And conveniently ignore the centralized control of Mavro conversion. As a matter of fact, ignore whatever doesn't fit with your MMM Global view, that's your problem.

Thanks to explain me my problem, so that I can go to solve my life very soon.

It is clear that come from others investors, it works this way.

But you are buying it because you trust that there are other investors that will buy, letting you sell. Even better then accept fiat money relying on the strength of you country militia ;)
Can you see my point?

I name it solidariety!

Call it what you like, you have obviously drunk deep from the Mavrodi Kool-Aid.
I don't deny he is a very clever salesman, he knows how to present his fraud as a "liberation" from the evil system, he knows how that resonates with the man in the street.
That is the part that makes me angrier than usual about this particular scam, the cynical exploitation of poor people.


That's OK then.

That's ok but...Again, this is little offensive and didn't address the problem


I simply end stating that we are accustomed with a system that stole our resources and can't accept a different one that create wealth. These is a big obstacle in our views ( sorry for my bad english )

What problem?
You have the only problem that I can see here. You seem to believe that a scam like MMM is sustainable paying 100% per month interest with no economic activity or income, apart from new investors. I don't.
I have pointed out the maths, you ignore it.
You believe MMM will liberate people from fiat exploitation. I just think it will liberate them from their fiat.
I have pointed out that the supposed P2P system is centrally controlled by Mavrodi, as were all the previous failed versions of this scam, through Mavro conversion. You think this can be "overpassed". I don't.

I am being polite. If you want, I can be offensive.

I understand your point, but I don't believe Mavrodi is the savior, just a clever scammer.

You are new on this forum. Please try to post in one go, continually adding to and changing a post during a conversation is bad manners.
Your English is good enough, it's your judgement that isn't.

What I love most about this scam right now (in laugh-ability) is that the homepage has a pic of him that looks like a really bad mugshot.

http://mmmglobal.org/

Not that I enjoy posting that SCAM URL, but it is pretty funny IMO.  ;D

That picture of his was actually an old picture, maybe 10 years or older, he looks different now but those who believe in MMM system threats him like god and some even threats him like they have met already or know him personally.

I know it's like a big scam and a cult in one. what the actual fuck right.  :P

so he's like Homero Josh Garza but more successful in his conning?

Way more successful
MMM's Sergei Mavrodi has been in the scam game since the late 80s and made several million dollars with different ponzi schemes

He makes cryptocurrency scammers like Josh Garza and Dan Kaufman look like total noobs

This face of Russian scoundrel  ;D

https://i.imgur.com/0kAvUMUl.jpg


How long is it sustainable??

Last scam from this crook lasted for 2 years...
https://www.youtube.com/watch?v=6SF0loVlhzo

Can someone please explain me how his scheme is working?
You deposit USD on your account: which are converted in "mavro" money (lol). Then you can "provide help" (i.e give money in exchange of fat interest) to someone who is asking.

I don't understand what BTC is doing in this thing. Isn't everything in fiat USD if you want?

Other question: Is the 100% rise guaranteed only by the rising in new suckers or maybe by the rising in BTC value?

If this is the last case, this could be huge: Think of Ponzi-Scheme-MtGOX at the scale of the population of Phillippines or China (big success there apparently)  :o
Time to invest quickly in BTC (not in mavro money  ;D)before the crash maybe??

You don't deposit USD, actually you don't deposit anything at all, because what you will do is click a button that says "Provide Help" and then you will enter an amount in BTC on how much you are willing to Help (Invest), then MMM system will give you the BTC address of the Person who needs Help, and you will send BTC to that address.

Provide Help = Invest
Get Help = Withdraw

So those who requested help actually are the one's who invested already and want's to get their BTC back with interest.

Investor's may want to ask themselves first, what if it's my turn to "Get Help" (Withdraw) and my BTC address was not assigned immediately to another member.

Sergei is a smart scammer that's all I can say about him, but regardless if he is smart or not, he still is a scammer.

Thanks

In addition, I've found a link where his pyramide Ponzi scheme is well described:
http://ethanvanderbuilt.com/2015/11/05/mmm-global-scam/

Somehow their site reminds me of a facepalm.. Is it just me?

http://s18.postimg.org/n7v081q91/mmm.png (http://postimg.org/image/n7v081q91/)

http://s18.postimg.org/ylhjj90rp/image.png (http://postimg.org/image/ylhjj90rp/)

This is very scary.. I'm expecting it to collapse soon, if not already.

This scheme is well planned to the extent that they where brainwashed to think that the money they invested is to help someone else so if you want to help someone, you expect something in return? Thats how they want all participants to think. That's the reason why the buttons there to invest says Provide Help. It may take time for this to collapse unless the Government will intervene.

Most participants know it is a scam. But they think they can get back the money before the scheme collapse. They are not the last one to lose.

It does seem so

Even with all the warnings posted everywhere, many still seem to be willing participants of this hot potato game hoping to profit at the lost of others

Above a certain level, that's probably true, but at the bottom of the pyramid most are firmly in denial, having drunk heavily of the Kool Aid.
On social media, the South African scheme for example, first time 'investors' are sharing their dreams of new furniture/cars/houses and attack anyone who queries it.
Among people who see little future for themselves and their families because of a corrupt financial system, Mavrodi's message is a genius piece of button pressing.

The MLM style pyramid is just a plus, meaning you can earn more if you have recruits but you can earn even without recruits which makes it more questionable as to where do they get the interest that they will pay you... answer is obvious  ;D

Even being known as an anti-ponzi fanatic, I don't quite see how this is a scam.

What exactly is Mavrodi claiming that distinguishes this from gambling? He seems to be sprinkling jealousy triggers over his site, but that's not fraudulent in itself, is it? Yes, there is some pretty crazy stuff on the site, but still, read this quote:


And another, REALLY standing out


I don't think Mavrodi will have a hard time sleeping at night if he takes money from people who project their greed onto this kind of thing. This is NOT the same as a typical, criminal Ponzi. At first glance, I'm not quite sure why it should be categorized as a scam instead of gambling.

Gambling, in its classic sense, has odds which can be calculated by reference to the rules of the game.
All factors regarding your gamble are disclosed and you know that it's statistically likely that you will lose in the long term, if only because of house edge, but you bet because it's fun or because you think you'll be the One.

Mavrodi is an intelligent man, he knows he can't pitch a sustainable 100% increase per month scheme to people who have a basic grasp of finance.
He knows he can pitch it to two groups of people
Those who see the potential to jump in and out before it implodes
Those who want it to work because it's their quick road to riches.

He also knows that those in both groups will ignore any disclaimers.
Where or how he sleeps is unknown, probably upside down in a closet.

Somebody had to, sooner or later.
On the South African Facebook site, among all the posts of new cars and furniture that "Help Providers" were gleefully accumulating thanks to the Saviour Mavrodi, it was only a matter of time till someone had to ask THE QUESTION

 https://i.imgur.com/KnUMgbR.png

Suggestions came fast and some, furious:









One or two got closer to the truth (didn't get any likes tho)





But, everyone's misgivings were put to rest when Teko Joseph De-huis turned up and explained it all carefully


He didn't convince everyone tho

MMM is indeed the social virus it claims to be. In order for depositors to reach the 100% returns they have to complete promotional web-tasks that will rake them an additional return percentage. One of the tasts is (or at least used to be) to create a bitcointalk account advertising MMM, perhaps that's why there was such a huge influx of new accounts.

They have even hired moderators to review the validity of completed tasks by users. There are several tasks available to each user every 24 hours or so. Most tasks consist of facebook posts, but others include account creation and posting on social networks like tsu.co, tumblr, twitter and blogger. Here's what the task page actually looks like. (https://i.imgur.com/x5hQQGZ.png) Each task receives around 150k completions that are sent for approval each day. Remember that there are multiple tasks available. If the numbers are true, that means that there are close to 1m people actively using the platform on a daily basis.

Lol I just love talking to their support guy: https://cdn.pbrd.co/images/9NIzzUH.png
Try them guys, LAMO
Edit: Forgot using the image embed link, edited

Seems legit this program is designed for "people to help each other"  ::) ::) ::)

It's quite funny, those guys are providing people with extremely detailed guides on how to buy bitcoin only for them to use it the worst way possible, in a ponzi scheme. Millions are introduced to bitcoin this way.

Lol. I tried it as well. They copy paste everything.

In my case the guy sent me an email with step by step instructions on how to find the best bitcoin exchange to buy from, and even included directions on what to do after buying bitcoin (getting a wallet, transferring etc). For a pyramid scheme they're really organised. I speculate that the people answering in the chat aren't really paid a salary though, more like trying to get referrals. And it's most likely that they got hired for having put thousands in the system already. So it's self explanatory why the "support" sucks oftentimes. I've bothered them a couple of times after mexxer-2 did, it's kinda funny.

Not looking too rosy in MMMland China. After the explosion of interest and investment late last year (that possibly helped increase Bitcoin's value), some currently unverifiable comments



Possible trigger for the inevitable is Chinese government action, as reported on http://english.caixin.com/2016-01-19/100901352.html

tl,dr:

The dreaded "reset"

A google translated headline from TMTPost

---

Meanwhile, in RSouth Africa, where MMM has both MMMRSA and MMMGlobal, socmed reports that one of South Africa's largest retail banks, Capitec, are making life difficult for large cash GH/PH movements, causing much wailing and anger amongst MMMers.
South Africa has a long history of "stokvels", localized mutual lending clubs, and many people view MMM as just a bigger and better version.
They also have a big hacker/scammer problem because of the unsophistication of the majority of their user base.
Whether this will drive more traffic to the bitcoin denominated MMMGlobal version remains to be seen, or it might signal that the authorities are finally getting their ass in gear.

omg, its still advertised for refs... (bitter.io)

but hey

THANKS AGAIN bitcointalk.org !!!!

Geralth/Jump
Anyone here from demoscene?

I LOVE MMM GLOBAL <3
You only need to learn how system work. BTC dont go on owner wallet..
member paid to member.
I get paid every day about $10 and im for now happy.
I start with only $10 invest,and every $10 when i earn i withdraw that and than put back. I have about $300 in system, but i will increase that. I work this about 2 month and i can tell you. This really work. My sponsor work two years..about $150 daily she have.. :)

I wonder where these morons think the 100% interest comes from?
I have a look at a MMM FB page and occasionally someone asked the question. They get shouted down for being "Disloyal" and "negative" most times, but when they do think about it, apparently it comes from the same Magic Money tree where Facebook and Twitter get theirs.  ::)