Bitcoin Forum

Other => Off-topic => Topic started by: The Fool on January 27, 2013, 11:25:58 PM



Title: Another Bitcoin ponzi scheme...
Post by: The Fool on January 27, 2013, 11:25:58 PM
We're 34 BTC in so far. When will it end?

http://www.bitcoingem.com/index.php


Title: Re: Another Bitcoin ponzi scheme...
Post by: tbcoin on January 27, 2013, 11:34:11 PM
We're 34 BTC in so far. When will it end?

http://www.bitcoingem.com/index.php

End when the gem is too expensive, the good news is that only one person will lose his money (the last buyer).


Title: Re: Another Bitcoin ponzi scheme...
Post by: Garr255 on January 27, 2013, 11:44:35 PM
Ohh man this looks fun :)


Title: Re: Another Bitcoin ponzi scheme...
Post by: Luno on January 27, 2013, 11:54:37 PM
We're 34 BTC in so far. When will it end?

http://www.bitcoingem.com/index.php

End when the gem is too expensive, the good news is that only one person will lose his money (the last buyer).

It's like the fiscal cliff; kick the can down the road for the next generation.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Rob E on January 28, 2013, 01:11:18 AM
What a fkn Idiot. Anybody believes this is not right in the head. " You buy it it will (*magically*) increase in value".  I'd love to do buisiness with this cat i have some money that will increase in prijs next week by; 20% but YOU can buy this money of me at only a TEn % increase.  Cool eh.


Title: Re: Another Bitcoin ponzi scheme...
Post by: greyhawk on January 28, 2013, 02:17:17 AM
What a fkn Idiot. Anybody believes this is not right in the head. " You buy it it will (*magically*) increase in value".  I'd love to do buisiness with this cat i have some money that will increase in prijs next week by; 20% but YOU can buy this money of me at only a TEn % increase.  Cool eh.

Is this money called Bitcoin?


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 02:31:42 AM
Is anybody yet selling shares so that a group can buy the gem? That's where the bitcoins are at. Call it BLOG (Bitcoin League to Obtain Gem).


Title: Re: Another Bitcoin ponzi scheme...
Post by: greyhawk on January 28, 2013, 02:37:08 AM
How about Bitcoin Gem Consortium (BiG-Con)?


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 05:16:22 AM
How about Bitcoin Gem Consortium (BiG-Con)?

My naming was lame, suggested to garner a better choice of which you duly provided. That said, how much a share? I'M IN!


Title: Re: Another Bitcoin ponzi scheme...
Post by: SSSSer on January 28, 2013, 05:36:05 AM
How about Bitcoin Gem Consortium (BiG-Con)?

My naming was lame, suggested to garner a better choice of which you duly provided. That said, how much a share? I'M IN!

Who's paying for the five coin lister fee on btct.co :D


Title: Re: Another Bitcoin ponzi scheme...
Post by: hackjealousy on January 28, 2013, 05:38:56 AM
Who's paying for the five coin lister fee on btct.co :D

Do they accept gems?


Title: Re: Another Bitcoin ponzi scheme...
Post by: odolvlobo on January 28, 2013, 06:23:32 AM
This is not a PONZI scheme. This is a kind of PYRAMID scheme. There are too many people using the term ponzi scheme that don't really know what a ponzi scheme is.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 06:29:41 AM
At BF Gems, the engineers with 42 combined years training in said field are offering up the following:

http://www.malotreasure.com/images/MP05Rg_01.jpg

Quote
Own the Brooch

You can be the next owner of this Beautiful Butterfly Brooch, the current price is 3.14159265 bitcoins. After your purchase, the brooch's worth will increase by .314 bitcoins.


Title: Re: Another Bitcoin ponzi scheme...
Post by: SSSSer on January 28, 2013, 07:24:06 AM
Nobody's bought it for an hour, is it dead?  :-X


Title: Re: Another Bitcoin ponzi scheme...
Post by: chmod755 on January 28, 2013, 07:40:18 AM
At least the website clearly tells you how it works. Also: 65.09 BTC for this gem, wtf seriously?


Title: .
Post by: inbox on January 28, 2013, 08:54:27 AM
.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Mr. Coinman on January 28, 2013, 09:36:00 AM
It is worth 71.6 bitcoins and currently owned by
Kim Dotcom

 ;)

I seriously doubt the gem's currently owned by Dotcom. Most likely a little publicity stunt on the website's part.  ::)


Title: Re: Another Bitcoin ponzi scheme...
Post by: TradeFortress on January 28, 2013, 09:46:08 AM
Probably someone who entered the name Kim Dotcom :)


Title: Re: Another Bitcoin ponzi scheme...
Post by: maxmint on January 28, 2013, 10:03:30 AM
Website owner here. None of my doing, but I too doubt that this is the real Kim Dotcom.

It is worth 71.6 bitcoins and currently owned by
Kim Dotcom

 ;)

I seriously doubt the gem's currently owned by Dotcom. Most likely a little publicity stunt on the website's part.  ::)


Title: Re: Another Bitcoin ponzi scheme...
Post by: Mr. Coinman on January 28, 2013, 10:08:27 AM
Website owner here. None of my doing, but I too doubt that this is the real Kim Dotcom.

It is worth 71.6 bitcoins and currently owned by
Kim Dotcom

 ;)

I seriously doubt the gem's currently owned by Dotcom. Most likely a little publicity stunt on the website's part.  ::)

I'll ask him on Twitter.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Deafboy on January 28, 2013, 10:54:57 AM
Create a pass-through investment fund and divide the gem to pieces. ;)


Title: Re: Another Bitcoin ponzi scheme...
Post by: ingrownpocket on January 28, 2013, 11:14:01 AM
It is worth 78.76 bitcoins (~ $1400) and currently owned by TF2Intel (http://www.tf2intel.com/).


Title: Re: Another Bitcoin ponzi scheme...
Post by: ingrownpocket on January 28, 2013, 11:27:19 AM
It is worth 86.64 bitcoins (~ $1560) and currently owned by 1Pw6fDFxPesdrUq85o24tzVjxJtXn7pWR7 (http://blockchain.info/address/1Pw6fDFxPesdrUq85o24tzVjxJtXn7pWR7).


Title: Re: Another Bitcoin ponzi scheme...
Post by: TradeFortress on January 28, 2013, 12:14:00 PM
It is worth 78.76 bitcoins (~ $1400) and currently owned by TF2Intel (http://www.tf2intel.com/).
Thanks for that fast return :3


Title: Re: Another Bitcoin ponzi scheme...
Post by: Jutarul on January 28, 2013, 12:35:41 PM
authentic?

Kim Dotcom bought at 65.09 btc, sold at 68.345 btc and made 3.255 btc profit


Title: Re: Another Bitcoin ponzi scheme...
Post by: tbcoin on January 28, 2013, 12:47:33 PM
104.83btc

I WANNA THIS FUCKING GEM!!!!! ;D


Title: Re: Another Bitcoin ponzi scheme...
Post by: ingrownpocket on January 28, 2013, 12:54:30 PM
Site owner's making a nice profit.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Lethn on January 28, 2013, 01:32:21 PM
Why the hell would someone pay Bitcoins for that? There isn't even a photo of the real thing lol :P you guys have too much money to piss away.

I also just looked at this properly and realised what it was, wtf? LOL :p


Title: Re: Another Bitcoin ponzi scheme...
Post by: TradeFortress on January 28, 2013, 01:41:19 PM
Why the hell would someone pay Bitcoins for that? There isn't even a photo of the real thing lol :P you guys have too much money to piss away.

I also just looked at this properly and realised what it was, wtf? LOL :p
It takes a few brain cells to realize tha the gem is in demand, and you are going to make a few coins in 6 confirms.


Title: Re: Another Bitcoin ponzi scheme...
Post by: tbcoin on January 28, 2013, 01:44:33 PM
Site owner's making a nice profit.

Is a really nice scheme, you win all time, and at the end you win much more.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 02:22:23 PM
authentic?

Kim Dotcom bought at 65.09 btc, sold at 68.345 btc and made 3.255 btc profit

Now makes great marketing content: Owe a gem that Kim Dotcom once owned.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 02:24:57 PM
To quote Bruce Wagner, "Up! Up! Up!"

Quote
You can be the next owner of the gem, the current price is 104.83 bitcoins. After your purchase, the gems worth will increase by 10.48 bitcoins.

You will stay the owner of the gem until the next gem lover buys it. He or she will pay 115.31 bitcoins and we will send 110.07 bitcoins back to you. (Yes, that's a 5.24 BTC profit for you!)

Would make an interesting bet at http://betsofbitco.in/: At what price do you think the "Gem" will no longer sell? (aware that that's not how it work, but can be worded some other way).


Title: Re: Another Bitcoin ponzi scheme...
Post by: Vod on January 28, 2013, 04:06:37 PM
This is not a PONZI scheme. This is a kind of PYRAMID scheme. There are too many people using the term ponzi scheme that don't really know what a ponzi scheme is.

There are too many people using the term pyramid scheme that don't understand what it is either.  You don't get a portion of anything each time the gem is sold.

This is a ponzi scheme, since it is using new money to pay old debts.


Title: Re: Another Bitcoin ponzi scheme...
Post by: The Fool on January 28, 2013, 04:13:57 PM
http://i.imgur.com/sSLDOl5.png


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 28, 2013, 04:29:55 PM
WOW! Somebody paid big real money to get their message out.


Title: Re: Another Bitcoin ponzi scheme...
Post by: maxmint on January 28, 2013, 06:39:36 PM
I'm selling the site (not the gem): https://bitcointalk.org/index.php?topic=139529.0


Title: Re: Another Bitcoin ponzi scheme...
Post by: Mr. Coinman on January 28, 2013, 09:08:02 PM
I'm selling the site (not the gem): https://bitcointalk.org/index.php?topic=139529.0

Why would someone buy the site? If the value of the gem was artificially created by you at its genesis, why wouldn't they just create their own version of the site and assign their own value to a gem?


Title: Re: Another Bitcoin ponzi scheme...
Post by: flaab on January 28, 2013, 10:35:42 PM
I find this extremely funny!


Title: Re: Another Bitcoin ponzi scheme...
Post by: TradeFortress on January 28, 2013, 10:38:57 PM
Bitcoin gem developer has just ran away with 225BTC:

Butterfly Labs sucks balls bought at 115.31 btc and is about to make 5.765 btc profit

Butterfly Labs ASIC Miners bought at 104.83 btc and is about to make 5.24 btc profit

I guess that's karma  :D


Title: Re: Another Bitcoin ponzi scheme...
Post by: Vod on January 28, 2013, 11:32:05 PM
Bitcoin gem developer has just ran away with 225BTC:

Butterfly Labs sucks balls bought at 115.31 btc and is about to make 5.765 btc profit

Butterfly Labs ASIC Miners bought at 104.83 btc and is about to make 5.24 btc profit

I guess that's karma  :D

I'm not positive he's out to scam...

He's taken down the ability to purchase the gem while he waits for a buyer.  If his aim was to scam as much as possible, he would have let people continue to buy the gem.


Title: Re: Another Bitcoin ponzi scheme...
Post by: greyhawk on January 29, 2013, 12:05:07 AM
Bitcoin gem developer has just ran away with 225BTC:

Butterfly Labs sucks balls bought at 115.31 btc and is about to make 5.765 btc profit

Butterfly Labs ASIC Miners bought at 104.83 btc and is about to make 5.24 btc profit

I guess that's karma  :D

I'm not positive he's out to scam...

He's taken down the ability to purchase the gem while he waits for a buyer.  If his aim was to scam as much as possible, he would have let people continue to buy the gem.

Actually, no, the price has already reached absurdity levels and maxmint is now 50 BTC richer. It can't go on for much longer, so the logical thing is to look for a fool to hand him another 300 BTC (looking at reddit there's no shortage of "bright people" believing this thing to go on forever). Now if he left the option to buy the gem open, people would see that no one's buying it at that price, lowering the chances of finding said fool.


Title: Re: Another Bitcoin ponzi scheme...
Post by: galaxyAbstractor on January 29, 2013, 12:06:14 AM
Bitcoin gem developer has just ran away with 225BTC:

Butterfly Labs sucks balls bought at 115.31 btc and is about to make 5.765 btc profit

Butterfly Labs ASIC Miners bought at 104.83 btc and is about to make 5.24 btc profit

I guess that's karma  :D

I'm not positive he's out to scam...

He's taken down the ability to purchase the gem while he waits for a buyer.  If his aim was to scam as much as possible, he would have let people continue to buy the gem.
Maybe he had bad conscience and didn't want to go further?

Also tho, when somebody buys, the amount is sent to the previous buyer. So the site owner would only keep the profit, which was intended and I'm pretty sure everyone was aware of that. Anyway, site is 404 now, seems like Butterfly Labs sucks balls will be the last fool unless it's put back.


Title: Re: Another Bitcoin ponzi scheme...
Post by: Phinnaeus Gage on January 30, 2013, 06:03:24 PM
I see it's back up: http://www.bitcoingem.com/index.php


Title: Re: Another Bitcoin ponzi scheme...
Post by: chmod755 on January 30, 2013, 06:12:57 PM
I see it's back up: http://www.bitcoingem.com/index.php

but it's only 0.9 BTC? wtf...


Title: Re: Another Bitcoin ponzi scheme...
Post by: rupy on January 30, 2013, 06:20:52 PM
lol, bitcoin talk is basically a big scam built around the best idea of modern civilization!

I love the contrast!


Title: Re: Another Bitcoin ponzi scheme...
Post by: Luno on January 30, 2013, 06:23:52 PM
lol, bitcoin talk is basically a big scam built around the best idea of modern civilization!

I love the contrast!

LOL, we kno who invented Bitcoin, but e don't know who invented bitcointalk.org


Title: Re: Another Bitcoin ponzi scheme...
Post by: rupy on January 30, 2013, 06:36:38 PM
actually no... lol, ok, I c what u did there... or not!


Title: Re: Another Bitcoin ponzi scheme...
Post by: jwzguy on January 30, 2013, 06:38:21 PM
Surely no one actually "paid" for this lunacy. Were txids posted?


Title: Re: Another Bitcoin ponzi scheme...
Post by: greyhawk on January 30, 2013, 08:01:19 PM
lol, bitcoin talk is basically a big scam built around the best idea of modern civilization!

I love the contrast!

LOL, we kno who invented Bitcoin, but e don't know who invented bitcointalk.org

Actually we do: https://bitcointalk.org/index.php?action=profile;u=3