Not a ponzi.

I was talking as someone else. Bob comes to my thread and says "It looks like a ponzi so I guess it is." Better?

I am not trying to run a scam. If you sign up 4, and each of your 4 sign up four, you receive the bracket money from a total of 16 people. 16 * .001 is .016.

After that you cannot make any more bitcoin without purchasing another bracket.

And if you bought 4000 brackets, you would lose 1 btc. Because I don't think you know 4000 people that you could refer.

But I believe in what I have made here. I don't see it as a pyramid scheme. I could always get a new identity, but no, I don't have a portfolio put together.

Thank you for being cordial. If you are looking to hire just let me know

Anyway for you to get rid of my negative trust? Or does it have to be Vod? He would never remove it because he's set on this is a ponzi.

I realize that this idea is not unique. But It is unique to bitcoin (I think). I also realize that most websites like this are actually scams, so I was trying to create a website that wasn't a scam and you really could make bitcoin referring users.

The brackets allow users to sign up underneath you. If they were to type in your username as their referrer when registering, and you had no brackets, It would give them a message: This user has no open brackets please find someone else.

Thank you for that video. I will learn from it and work on my presentation. Also, I am going to be changing the brackets to .001 which is equivalent to about 25 cents so you guys can test it out and see that you don't lose anything.

First off it's not a ponzi. Second, I am not stealing anything and cannot steal anything. The bitcoin goes directly user to user. There are no deposits paying off old deposits because you're paying other users, and not "paying off" anything. Thank you for the negative trust, I really appreciate it.


Cloudflare is currently under maintenance, so in the meantime you'll have to use the alternative domain

http://bitcoinmatrix.x10host.com

So where can I get one for this:

http://m.ebay.com/itm/311075940517?nav=SEARCH

I am not trying to steal or scam any of you. The reason I said I'm looking for testers is because I am trying to make a working website. If you want I will lower the bracket price to 0.001 and give you that bitcoin to test out the system. I'll even make so you don't have to sign up under a referrer. And even better I'll give you the entire source code for the website if you want it!

And let me state one more time. Using the block chain api, it is literally impossible for me to steal your bitcoins.

You are not "investing" your bitcoin. You are sending it directly to other users. Everyone in this thread just looks at it and says it looks kinda like a ponzi so I guess it is. But nobody is listening to how my system works. I spent 3 weeks making this website. Why would I be asking for testers if I was just trying to scam you guys?


And so your saying that if you bought some stickers for .05 btc, then I gave you 4 brackets for purchasing some stickers, then you would try it? Because if you want I can send you some stickers or something.


Only one person has signed up. Most of you haven't even looked at my system if you haven't signed up. So how can you keep accusing me without looking at it! Sign up doesn't cost anything.

True, but have you looked at the api?

This is the whole api call:


and the link to the api:
https://blockchain.info/api/api_receive

For the receiving_address we put the user's address that is 2 levels above the user purchasing the bracket.

Then we display the "input_address" for the user buying the brackets to send the coins to.

The only reason we have this intermediate step is so we can check to make sure user1 actually paid user2. The coins are still going directly user to user. We have no access to the wallet associated with the address created by the api. You can have a look at the api, and see that the address in the middle is created by the api and we have zero control over it.

Does that help explain things?

No, if you read the faq, the bitcoin goes directly to the user without going through my website. The bitcoin spent on the bracket you are sending to the user 2 levels above you. When you purchase your first bracket, it tells you to send the money to an address, and that address is the address of the user 2 levels above you.

Since this isn't clear, where should I put this to make it very clear? I'm pretty sure I state this in the faq and in the payments section.

Why do you find this foolish? Please explain to me your reasoning. This is a legit website that I have put a ton of my time in. I don't like people calling something I put hours of hard work into "foolish."

I don't believe you understand how my system works. I can assure you there is nothing foolish about it.

You can't make remarks about something you haven't even tried. Have you even signed up? Sign up is free. Sign up then tell me what you think of it.

Let me state this again. It is impossible for me to take your bitcoins. I can show you the full source code to prove it.

It is not a Ponzi Scheme. A Ponzi Scheme involves someone at the very top of a pyramid, and money from anyone below that person goes up to the person at the top. The reason this website is not a Ponzi Scheme is because the maximum number of levels the money can go up is two levels. So lets say I'm at the top. Any bitcoin past two levels below me will never reach me. Also this website charges no fees, and the bitcoin payments are made directly from user to user making it impossible for them to be stolen.



Thank you for your comments on the design. What do you think should be changed in the design? I am using a free TLD because I like dot tk TLD's. It is short and simple and allows me to use bitcoinmatrix. I am a college student with no money so I can't purchase a domain (: Also, bitcoinmatrix.com can't be purchased.



I have updated the faq. Please have a look at the new faq. You are not buying a membership, but brackets. To sign up is free. You purchase the brackets so users can sign up under your username.

This is a site where you can make money simply by referring users. It only requires that you purchase brackets. Your first brackets, only 0.05 btc, gives you 4 spots to sign people up under you. Once these spots are filled, this gives the potential to earn up to 0.8 btc. This is more than enough to pay for the next 2 brackets, which are only 0.01 btc.

Number 17 and 18 both say 9800 gt and not gtx, and number 26 and 372 say gt 520mx. Either way I'm guessing those numbers are more realistic numbers. I was just wondering what the whole 40k and 1.7k numbers were, and why they were in there since they are obviously mistakes.

Has anyone seen the spreadsheet on these to cards while using cudaminer?

The 9800 says it gets 40,000 kilohashes, and the 520 says 1794. There's no way that's true.

https://docs.google.com/spreadsheet/lv?key=0Aj3vcsuY-JFNdHR4ZUN5alozQUNvU1pyd2NGeTNicGc&type=view&gid=0&f=true&sortcolid=5&sortasc=false&page=1&rowsperpage=250

Wait for price to go down a little more and then time to buy!

This coin is a cryptocurrency (obviously). When prices drop, its usually a good time to buy. No, I am not trying to endorse this coin, I'm just saying that I myself will be taking advantage of the price drop. Hopefully I'll get lucky

Here's the topic:
https://bitcointalk.org/index.php?topic=584481.0

And you can trade it on bittrex.

Jackpot coin just dropped drastically! Its at .00023 which is an all time low! I myself will be investing $100 into it, just thought I'd let you guys know


http://www.cryptocoinrank.com/jackpotcoin

Yes I know, I have been mining all week. And then today I find out that mining has stopped. I really don't get the point. Minting seems cool but isn't going to be nearly as profitable as mining.