...there have been so many pyramid schemes on this forum that it's refreshing to see some sort of legal and judicial action taken against someone who was producing a pyramid scheme. I realize this article IS NOT about anything that happened on this forum - which is a great thing - but it's easy for a newbie hear to buy some bitcoin and then get taken for a ride on one of the pyramid schemes advertised and end up with nothing.
I have no problem with pyramid schemes as long as they state that they are pyramid schemes ("ponzi games"). Btw. the current fiat money system is the greatest pyramid scheme of all times, yet no legal action is taken against it - instead it is enforced and protected by governments abusing the law. So free market pyramid schemes can do damage, but that kind of damage is limited to those who enter these schemes out of free will.
This forum is using the ideology of caveat emptor and this is a good move because people needs to make a judgement on their own and not to be relly on someone's else decision. Everyone who lose some amount due to ponzi is responsible for their own loss and that is because of their greed .Also the fact is that apart from banning the account that created a ponzi thread, the forum cant do much about this and it will create a mass of work pile for the mods.
Fully agree. People need to learn to use their funds responsibly. Those who take part in a ponzi scheme out of greed and loose will at least receive a valuable lesson in regard to personal responsibility.
ya.ya.yo!
