Bitcoin Forum

There are rumors about the MMM ponzi scheme being somewhat responsible for the current rallye. After the recent price rise we may experience an unexpected dynamic that works like this: Many newcomers to the ponzi scheme learn about Bitcoin and how to buy them in order to enter MMM - and they do this while the bitcoin price is rising very quickly.

Now put yourself into the position of such a person: You have bought Bitcoin that gain 10% in value each day. Would you still "invest" into MMM or would you rather hold the coins, as you already see crazy profits that are even higher than what the ponzi has promised? We might currently see MMM inadvertently recruit bitcoin users instead of ponzi victims, which would be a very nice thing on many levels.

What do you think?

It doesn't matter what the reason is, just enjoy this big bump! I can't even believe we're standing at $500 again.

It could be. From what I think we don't know the reason for the boom that has happened this week. So it could just be coincidence or some individual behind the price rise.

Sell now, buy again when Bitcoin goes to $50 after MMM ponzi blows.

member of those MMM ponzi scheme will just buy and sell Bitcoins, they don't keep those Bitcoins since they just send it to another address then wait for week then request for withdrawal with interest then exchange since Bitcoin is not that mainstream yet in China.

From what I understood, they would not get the returns immediately, so could be sometime soon. Also highly depends on when the ponzi operator cashes out. He could dump his holdings too.

1 week is the soonest that they can dump Bitcoins, the longer they don't withdraw the bigger the interest, that's why some have multiple accounts there. If i'm the ponzi operator, I can easily assign my BTC address to anyone and they will send Bitcoins because after a week, they can withdraw with interest. It's a circle.

If there are more people contoniously participating in the Ponzi, then yes it will run like a circle and will keep the price of bitcoin stable for the entire time the ponzi lasts for. However logically price should still decline and not increase because of the ponzi.

Keeping an eye on this for changes in frequency. I'm sure there are actual chinese video sites that would be better to sample... but I don't know them.

it's not only in China that MMM is expanding, Philippines also have a lot of MMM followers, they even have this physical branch now in different places.

MMM will go down sooner or later.
I only hope Bitcoin's price does not plunge along with it.

The sooner the better, so that those MMM evangelist will wake up in reality that what they are preaching is nothing but ponzi

With a possibility of earning "100%" in a month, this is going to close very quickly. :)

 :D So many trolls and shills trying to convince potential investors that bitcoin is only going up because of a ponzi scheme  :D

Most here couldn't care less if Bitcoin is or is not a Ponzi -- this forum even has a section dedicated to Ponzis (https://bitcointalk.org/index.php?board=207.0), where the most afflicted of degenerate gamblers willingly go to lose (that is, lose faster than they already are by simply holding Bitcoin).
The problem's not Bitcoin being a ponzi, but the fact that it's a collapsing Ponzi.
Therein, Jarhead, lies the rub :-\

http://s15.postimg.org/rpdn01dej/Capture.png
               Bro, do you even Ponzi?

I've noticed tons of strange new accounts that make a single reply and have the MMM thing as signatures. Did anyone see this as well?

I can't say I've picked up on that myself.

Government paid trolls everywhere trying to convince people that Bitcoin is a ponzi, or that bitcoin is collapsing because of a ponzi, or that bitcoin is connected to a ponzi and therefore FUD.  That is all

Amazing how many paid shills and trolls try to convince people that the government and their criminal too-big-to-fail banks aren't threatened by a system that has made them obsolete!  Troll and bullshit much??

A post on forums like this is one of the many compulsory activities, along with YouTube vids etc., that MMM users must complete in order to qualify for the Mavro Extra rate of 100% a month, otherwise they're stuck on a measly 30%  ::)

Just report them as spam, they get nuked pretty quick.

MMM is not just a Ponzi. It's also a multi-level marketing pyramid scheme, with a downline and heavy pressure on participants to promote it.

There is no pressure to get a downline, everyone can earn even if they don't have any downline at all but they will earn more if they have a downline since they will be promoted to a higher rank (1K Manager and 10K Manager) with higher % earnings from the downlines. The members of MMM are so blinded by that "no sponsoring" scheme and thats what makes them think it's legit, which even makes it more questionable if you ask me. It's a very clear ponzi.

I agree with that totally. As a Ponzi scheme, MMM will collapse eventually. The collected bitcoin will be sold to the market again. Maybe some of the coins have already been sold by the top level attenders.

Do we know the total number of bitcoins inside the MMM scheme?

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

I not participant, and can't prove it )

they'd act as if not really scamming during their start but it will soon show its real colors. they're PONZI!

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

"Pause Mode" is what happens, purely at Mavrodi's discretion, and has happened in the past. He just freezes conversion of Mavros into anything real for a fixed period of time. I have read that MMM Russia is currently "paused" until the New Year, but can't confirm it.

With the very high rates being offered by MMM, this tipping point is imminent.
Whether people convert the bitcoins back into fiat after "being helped" (equivalent of withdrawing in MMM) is debatable.
Most people, however, would not succeed in withdrawing.

looks like MMM is on it's way to collapsing, they added back the mining option where investors can invest Bitcoins and earn in 48 hours and based on their Facebook page conversation it's the answer to the shortage of recent investors in the site, meaning most are are now waiting for their Bitcoins to earn and then withdraw, but withdrawal waiting time is longer than before.

Probably looks like the reason that the holder is selling the coins which is what is likely causing to drop the price. I wish we had wallet analyzers to study the transactions with a little more detail and see if it was all due to MMM.

This is not what Bitcoin needs for its image right now. I can just see more and more people associating Bitcoin with pyramid scheme or Ponzi scheme because of this. I would of rather had the price stay in the 240 range then be pumped then dumped by this bs mmm scheme.

they are not automatically paid...
The one who requested to withdraw will be assigned with another member who wants to invest in MMM example:
YOU want to invest 0.1BTC, you will fill up a form in their site about your intention to invest, but you can't send your BTC yet, you will be put on a pool of investors, then ME, I want to Withdraw, I will fill up a form in their site about your intention to withdraw some of my investment
so MMM System will find a match on how much you are planning to Withdraw from a pool of members who wan't to invest, then MMM System will assign  my BTC address to example YOU so you can send BTC to my address, but YOU have 72 hours to send BTC or else you will be blocked.
BTC may come from 1 or more members depending on how much you a member plans to withdraw. This system is unfair sometimes because by the time someone sent you BTC, rate is already down.

Thank you for your explanation of how this scheme operates. That was very informative.

I guess we can put this theory to bed  ???

I mean the price is crashing yet this ponzi hasn't stopped so far as I can see.

How you can even think than behnd btc pump was some small hype network,i even saw article in Coindesk about that with fake link to Financial Time.Faser i will believe that alians oficially decided to ban btc and it was last btc pump than it that kind idiotic information,maybe russian oligarch were moving his money,becouse Deutche Bank has independent scrutinity now.Or Isis was moving money needed to attack USA

Or USA was moving money to attack China
Why not

My question is, MMM has any associated with Bitcoin?

Yes, MMM Global requires a deposit payment made in Bitcoin to buy Mavros (MMM tokens) and play the give/receive game.

MMM doesn't use Bitcoins only, they also use Bank to Bank Transfers but other MMM members don't want the Bank to Bank transaction since it will require them to go to the Bank or use a mobile app and their personal information will be known. That's why majority uses Bitcoin. There are members of MMM that uses a fake name and have multiple accounts.

But why did that factor alone cause the price to go so up ? Wouldn't like a LOT of money be required to drive price up alone ? Like literally so many millions for that rally up to 500 ?

Where did you read that?

I can't read Russian but a Google translation might be semi-comprehensible. Everything I hear about MMM is founded on rumors, there are no sources of facts I can find. As it's based in the East it's shrouded in mystery, and I can't figure out how to get any reliable facts apart from joining it by paying the minimum possible Bitcoin fee.

If there would be a reliable facts about it then they are jeopardizing their identity. Besides being a shady entity is already a red flag and would give you a hint thats its a ponzi structure game

On MMM Global, there is only a Bitcoin option. The bank option doesn't work.

https://i.imgur.com/xi84tXA.png


The you tube link is private and I can't read it but I have no reason to doubt the poster.

Bitcoin has survived many things and sure as hell it will survive this as well! Of course, if this is truth! There is nothing we can do to prevent things like this so there is no sense in losing our nerves about it.

If nothing, this is another use case for us, as negative as it might be!

Do you mean the use of bitcoin by MMM will ruin the reputation of bitcoin and make it less survivable? I have no worry about this. The usage of bitcoin is a very small proportion of the total bitcoin supply.