Overnight major Ponzi scheme CryptcoMiner finally absconds with over seventy BTC

[tspacepilot]

http://cryptoconspiracy.com/overnight-major-ponzi-scheme-cryptcominer-finally-absconds-with-over-70-btc/

Well, why am I not surprised? I was only in it for the sig campaign

Praising a scam in your signature makes you a scammer in my book, no matter the intentions.

Funny,  I guess people like you mean that I really do need to change my text under my name to "signature is a paid advertisement, not personally endored".  I figured that was too obvious to worry about.

Some businesses penalize you for adding or removing data, therefore writing "Vendors not personally endorsed" would not be allowed.

I think you're referring to modification of the signature.  I'm referring to the quote under my name on the left.  For me, it currently says "I will write code for bitcoin."

[Bonam]

Seems obvious to me that signature ads are not necessarily endorsed by the people with the signatures. They are just a way to make money. People should do their own due diligence. If someone sees a link in a hero member's signature and thinks to themselves "ooh it's a hero's signature, it must be legit, let me throw my money at it!", then they honestly deserve to be scammed out of their bitcoins. Maybe they'll learn from it and be less likely to fall for a scam in their future dealings.

Cryptcominer was a 100% completely obvious scam/ponzi/HYIP.

[tspacepilot]

Seems obvious to me that signature ads are not necessarily endorsed by the people with the signatures. They are just a way to make money. People should do their own due diligence. If someone sees a link in a hero member's signature and thinks to themselves "ooh it's a hero's signature, it must be legit, let me throw my money at it!", then they honestly deserve to be scammed out of their bitcoins. Maybe they'll learn from it and be less likely to fall for a scam in their future dealings.

Cryptcominer was a 100% completely obvious scam/ponzi/HYIP.

I couldn't agree more.  Someone who throws money at sites on the internet without doing due dilligence is going to get hurt sooner or later.  Hopefully they learn the lesson without too much losses and move forward.

[williamj2543]

Why is this even news? Everyone knew this was going to happen.

[zorke]

Seems obvious to me that signature ads are not necessarily endorsed by the people with the signatures. They are just a way to make money. People should do their own due diligence. If someone sees a link in a hero member's signature and thinks to themselves "ooh it's a hero's signature, it must be legit, let me throw my money at it!", then they honestly deserve to be scammed out of their bitcoins. Maybe they'll learn from it and be less likely to fall for a scam in their future dealings.

Cryptcominer was a 100% completely obvious scam/ponzi/HYIP.

I agree. This is the same concept that you should not "trust" a hero member simply because of their ranking or their number of posts.

I don't think that people needed to so much do their due diligence in this case, but rather they needed to use common sense to say that there is no way that this could have been anything other then a ponzi

[leannemckim46]

Why is this even news? Everyone knew this was going to happen.

It is news because of the amount of money that was stolen. I think it is also interesting because, unlike many other ponzis, it stopped paying out at a strategic time when they had a lot of money, instead of siphoning off smallish amounts of money to pay for the con's expenses and only collapsing when there is not enough money to cover investor withdrawals

[kutaka]

http://cryptoconspiracy.com/overnight-major-ponzi-scheme-cryptcominer-finally-absconds-with-over-70-btc/

Well, why am I not surprised? I was only in it for the sig campaign

Praising a scam in your signature makes you a scammer in my book, no matter the intentions.

Funny,  I guess people like you mean that I really do need to change my text under my name to "signature is a paid advertisement, not personally endored".  I figured that was too obvious to worry about.

No need to change anything, I would not take investing advise from anyone on this forum.

Still, I compare getting paid for signatures to getting paid for praising something in real life. It means that you are for sale. And here it is pretty cheap.

[jjacob]

70 BTC?
That is a lot of money.

[williamj2543]

70 BTC?
That is a lot of money.

People should have known from the beginning to not invest over 30 thousand us dollars into some website that is obviously a ponzi. There needs to be someone designated to put a giant red flag up on every one of these HYIPS

[leannemckim46]

70 BTC?
That is a lot of money.

People should have known from the beginning to not invest over 30 thousand us dollars into some website that is obviously a ponzi. There needs to be someone designated to put a giant red flag up on every one of these HYIPS

I think people were likely trying to "ride the wave" in that they would try to earn a good return off of the ponzi in it's early days with the intention of withdrawing their money by the time the ponzi was to collapse. I don't think they anticipated them offering a "really good" deal (offering 130% returns for only 5 days) and then simply running away with the money