How do people know somebody doesn't have the private key to that [1BitcoinEaterAddressDontSendf59kuE] address all along and they're just sitting on the coins?
Because the person that created the address 1BitcoinEaterAddressDontSendf59kuE never had the private key. They simply started with the string "1BitcoinEaterAddressDontSend" and then added the correct checksum "f59kuE" onto the end of the string (it is a bit more complicated than that but you get the point). Since they never had the private key no one will ever have the private key so any coins sent to that address are lost forever. Ouch....  Luckily it only has 1.6 BTC right? Or did I look that up wrong? 1.60652869 BTC ($ 1,420.11 at the time of this post) |
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This is a Ponzi. There is not a shred of doubt. The point is that you should not be on the fence here - you should not even be anywhere near the fence.
The fact that you refuse to state the obvious is why we are giving you a hard time.
Why not just say it? "This is an obvious scam. This is a Ponzi. Thanks everyone!"
And change the title of your thread.
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With a mining park it is sustainable. Just compare with CEX.IO for example or calculate by yourself. I do it pretty easy and simple, just for thinking about:
I deposit for example 1BTC at BTC Duplicator. They want give me per day 1.66% = 0.0166BTC per day.
If they got a miner park with knc jupiter for example, each jupiter cost them about 9-10BTC when buy. For my 1BTC which i deposit i got 10% share of 1 Jupiter, which mean 55GH/s (next generation even 65!)
With the actually difficulty the 10% share of this miner will generate 0.0391BTC for me every day, more then 3 time what they will pay interest. With the next difficult step of maybe 30%+ it will still be about 0.03000
So unsustainable is it definitly not. Just in theory...
And i am not involved. Just try to gather some opinions or experience. I don't say is scam or ponzi or is legit. To found that out, i open the thread.
This is the post of a shill. There are two types of shills: those that know they are a shills and those that do not know it. You are probably in the second category. I recognize you because it is just like looking in a mirror. I unknowingly shilled for Trendon (fucking bastard) Shavers "Bitcoin Savings and Trust" for many months. I said all the things you have said so far and all the things you might say in the future - including "I am so sorry" once it self destructs. I thought maybe it was not a Ponzi because Bitcoin. This is a totally obvious no doubt about it Ponzi. There is no other possibility. Believe me, I have been down this road and in my own way helped Trendon bilk the community for 500,000 BTC, losing thousands of BTC myself. You do not want to end up feeling the way I feel. Stop now, change the name of the thread and recant, modify or delete all of your posts that say in any way shape or form that this might possibly not be a Ponzi. |
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Although bitcoin is far from finished it was a big hit and everyone that doesn't see that is just a fool.
It was a hit because it remind it to everyone how volatile bitcoin still is and negative press will focus on that from now on.
As far as I'm concerned this is a good thing. Bitcoin isn't yet ready for adoption by the mass public. The number of transactions per second it can handle is tiny. The minimum transaction fee is static and not easily able to float with the changing BTC value. We don't yet have secure hardware wallets which can generate addresses, store addresses, and sign transactions all completely offline. There aren't any well-known reliable producers of ASIC miners which are shipping immediately. There are relatively few well-known exchanges, and even fewer which are convenient to use. Etc. Etc. This is by far the best post in this thread. Thanks. All of the stuff mentioned is in the works. Once it all gets here Bitcoin can really take off. |
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giletto:
If you are not a shill account you will do the following:
1) Change the title of this thread to "WARNING: Obvious Ponzi - Do not use!
2) Make a post stating "Bitcoin Duplicator is a totally obvious Ponzi scheme. Do not put any BTC into it. You have been warned."
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Anyone with experience about this website: http://bcduplicator.com/in 2 month 100% profit sounds to good to be true. I know is just a new website...not much information in google...what you guys think? I call shill account. |
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From what I understand, you said you recovered wallet 1 from a backup - and the transaction in question is now gone, right? If the transaction did get broadcast and it just has not completed yet (I would need the transaction ID, the sending public Bitcoin address and/or the public Bitcoin address you sent to in order to find out) and it eventually completes it will appear in both wallets.
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It's impossible for the USD to collapse anytime soon. Too many countries have large reserves in it to let it fail.
*facepalm* "The USD is just too bloated, big, fat, unhealthy and out of shape to have a heart attack" |
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Question before I start: are you proposing this system to be added to a Bitcoin like public ledger system that like Bitcion uses a decentralized concensus mining system OR is this a proposal for a completely different yet to be designed system?
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I assume by your statement: Make supply match demand. You want a stable price relative to one of the many fiat currencies. For example you tie your new alt to the USD and declare that one of your new FiatCoins = one USD. Then as price moves up over 1 dollar you create more until the price comes back down to 1 dollar, if it goes below 1 dollar you stop making them until the price goes back up to 1 dollar. Good luck with your new FiatCoin - you are going to need it. |
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I don't have bitcoins but I post here with hopes of turning young, gullible minds away from falling for the scam that is bitcoin.
Please help me. I need help too! Oh wait, I am older than dirt. Carry on then... OP gave me a good belly laugh though - thanks for that. |
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Why did you buy btc at 1k usd at the first place?
Does not make sense ...
It had been around 1k the last perod of time so i never thought it would drop significantly. 1) Only use money you are prepared to lose - and I mean lose it all. That way you won't panic when it goes down. 2) You lost about half your money. 3) If you are prepared to lose the other half (see point #1) then buy back in - if not then you are done (until you have some extra money that you are prepared to lose) 4) WAIT. That is all you have to do. If you buy back in at $700 you WAIT until it is $1400 then you are pretty much flush. 5) Then the hard part is to figure out when to sell and how much you want to make. |
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First/Early adopters always pay more. But, we get to say "look at my cool new gizmo!"
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How do people know somebody doesn't have the private key to that [1BitcoinEaterAddressDontSendf59kuE] address all along and they're just sitting on the coins?
Because the person that created the address 1BitcoinEaterAddressDontSendf59kuE never had the private key. They simply started with the string "1BitcoinEaterAddressDontSend" and then added the correct checksum "f59kuE" onto the end of the string (it is a bit more complicated than that but you get the point). Since they never had the private key no one will ever have the private key so any coins sent to that address are lost forever. |
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The rules only require the amount paid to the block solver to be LESS THAN (but not necessarily equal to) the total tx fees + block subsidy.
I think this may need further clarification for the noobs: When a miner (or pool of miners) successfully mines a block the protocol lets them put a special transaction into the block that gives them 25 BTC "out of thin air" - this is where Bitcoins come from. What D&T is saying is that the protocol specifies that in each block the miner or pool who first mines it gets to give themselves up to 25 BTC. So if they give themselves only 10 BTC then 15 BTC are lost forever because they will never be mined. It would be silly for a pool or miner to do this to themselves but if they did that block is done and it cannot be changed. Since it only created 10 out of the 25 possible BTC for that block the total number of BTC that will ever be created is now 15 less. Make sense? |
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Sites offline for me?
Is this still going? saw some negative posts...
Link(s)? |
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Isn't it illegal to send fiat thru mail?
No, just risky. |
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I then called each card to unlock and the messages on all 3 of them more or less said "due to recent activity on your card, we have decided to close your cards... please press star to unlock, but you can not add more money onto the cards."
So now I have still close to 4 BTC I need to cash out. I am wondering how to do this. For small amounts like this https://localbitcoins.com is perfect. |
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