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Author Topic: What is ponzi? I give 0.05 btc to the best answer  (Read 1710 times)
Jutarul
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September 13, 2012, 04:16:45 AM
 #21

it's true. But isn't necessary to ask her more details. She just talk a lot about this and sent more then 10 long youtube videos trying to explain the business, but it is unclear at all, it's hours of bullshit and.. Maybe I never will know if she really believes that or she is dishonest
Well in the end of the day the burden of proof is on her side if she wants you to invest.
As far as honesty is concerned. Ask her for insurance or collateral. If she bets her house on getting a $20k loan from you, then she is convinced.
If not - then she's just trying to get a cheap loan.

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JoelKatz
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September 13, 2012, 06:08:01 AM
 #22

Maybe I never will know if she really believes that or she is dishonest
It's usually a bit of both. For example, it's entirely possible that the top guys in a Ponzi scheme believe that if they can just accumulate enough money, they can corner the market, make a huge profit, and pay everyone off. It's a weird kind of split-brain psychology. On one level, you rationally know that it will blow up eventually and lots of people will lose money. But on another level, you want to delay that blow up as long as possible even if that means making it bigger and you can almost convince yourself that some magic might come along and save everyone. Of course, it never ends well.

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Jutarul
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September 13, 2012, 08:34:10 AM
 #23

Maybe I never will know if she really believes that or she is dishonest
It's usually a bit of both. For example, it's entirely possible that the top guys in a Ponzi scheme believe that if they can just accumulate enough money, they can corner the market, make a huge profit, and pay everyone off. It's a weird kind of split-brain psychology. On one level, you rationally know that it will blow up eventually and lots of people will lose money. But on another level, you want to delay that blow up as long as possible even if that means making it bigger and you can almost convince yourself that some magic might come along and save everyone. Of course, it never ends well.
+1. A similar scenario is when you play the martingale betting game. You exploit the fact that a series of losses is usually interrupted by a win - so you keep playing ONE more round to get your investment + profit. But eventually it's gonna get you - because you can't get enough money to play that last round.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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September 13, 2012, 12:43:54 PM
 #24

Thanks mate. Is it a kind of piramyd schema? Sorry for did not search it on Google, but I am in a really slow Internet now in my mobile (I am far away from civilization right now) I'll give you the 0.05 and if you can say more about this fraudulent schema I glad you. Thansk
Looks like the other guys beat me to it and explained it well, so whoever gets the reward is your call.
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September 13, 2012, 06:08:29 PM
 #25

For information about the world's largest ponzi scheme, you should read up on Bernie Madoff. The things he did to all those people who were suckered into thinking they would be getting money back was totally reprehensible. I mean, you had senior citizens investing their life savings and getting nothing in return all for one person's greed.
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September 14, 2012, 12:31:44 AM
 #26

"A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation." - Wikipedia

Assuming you want more money, you should avoid Ponzi schemes because you are more likely to lose money than to gain money.

1NtTPVVjDsUfDWybS4BwvHpG2pdS9RnYyQ

Oftentimes, though, early adopters into the Ponzi scheme can do quite well, especially if they become involved with the owner of the operation. They kinda remind me of payday loans: they're both total wastes of money.
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September 14, 2012, 01:27:53 AM
 #27

For information about the world's largest ponzi scheme, you should read up on Bernie Madoff. The things he did to all those people who were suckered into thinking they would be getting money back was totally reprehensible. I mean, you had senior citizens investing their life savings and getting nothing in return all for one person's greed.

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HBO is making a movie about Madoff in which actor Robert De Niro is set to star

Could be good
CJGoodings
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September 14, 2012, 05:19:56 AM
 #28

Its a big hole in the ground to throw loads of money into it, looks like that bit from the starwars flick, Sarlacc IIRC.
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September 19, 2012, 11:40:39 AM
 #29

I am Ponzi.


I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me.
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