Requesting theymos to serve a notification regarding MMM

[Johny Depp]

MMM is a declared Ponzi run by a guy named Sergei Mavrodi. In 1990 he made a disruption in Russian economy. According to Wikipedia from 5 to 40 million people lost up to $10 billion. Then he was jailed, but after coming out he made two more Ponzi MMM-2011 & MMM-2012. Both have failed. Currently he is running MMM Global which is spread across South Africa, India, Indonesia and many other developing countries.

I recently came across MMM Global Republic of Bitcoin through a reddit post. It seems many people are buying into bitcoin across the globe just to be part of this Ponzi. BTCC CEO Bobby Lee said the same to CoinDesk.

When this MMM Global Republic of Bitcoin will collapse, the effect will be catastrophic. Please do not confuse it as other petty Ponzis that run on Bitcointalk. It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero. Please note that Mavrodi's Russian Ponzi was many times bigger than bitcoin's total market cap.

Hence, as theymos controls bitcoin.org, bitcointalk.org & /r/bitcoin, I'd request him to pin an awareness notification in all these sites.

[dogie]

It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero.

Is that with his magic wand of bullshit or his crown of rofl?

[Johny Depp]

It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero.

Is that with his magic wand of bullshit or his crown of rofl?

I think, your question is how the price will drop after the Ponzi crash?

The answer is, it'll work similar to Mt. Gox. It is not only those who lost fund there, but the price was also crashed due to the fear factor in the market. The only difference is in case of MMM Global Republic of Bitcoin, the amount locked will probably be far bigger than Mt. Gox.

[jacee]

MMM is a declared Ponzi run by a guy named Sergei Mavrodi. In 1990 he made a disruption in Russian economy. According to Wikipedia from 5 to 40 million people lost up to $10 billion. Then he was jailed, but after coming out he made two more Ponzi MMM-2011 & MMM-2012. Both have failed. Currently he is running MMM Global which is spread across South Africa, India, Indonesia and many other developing countries.

I recently came across MMM Global Republic of Bitcoin through a reddit post. It seems many people are buying into bitcoin across the globe just to be part of this Ponzi. BTCC CEO Bobby Lee said the same to CoinDesk.

When this MMM Global Republic of Bitcoin will collapse, the effect will be catastrophic. Please do not confuse it as other petty Ponzis that run on Bitcointalk. It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero. Please note that Mavrodi's Russian Ponzi was many times bigger than bitcoin's total market cap.

Hence, as theymos controls bitcoin.org, bitcointalk.org & /r/bitcoin, I'd request him to pin an awareness notification in all these sites.

This MMM is also popular in my country. I believe there is really a need to notify people that this is some kind of pozi because as I can see it, people who joins MMM doesn't even have knowledge in bitcoins. It's just a tool they use to earn profit. They claim it to be a mutual fund sharing and thus people are enganged to join. 

[ajrah]

I've been reporting posts about MMM in this site. They are posting referral links which are not allowed. I think there's already a thread about this in Bitcoin discussion. They are using Bitcoin for the purpose of MMM only and nothing else. Most of them complaints about the miners fee and delayed transaction which shows they are not really that into the education and development of Bitcoin.

[Lauda]

Why would he? That would mean moderating scams and whatnot which the forum is not doing at the moment. I've never heard of this before, nor do I care about it. Theymos is a very busy man and he does not have time for nonsense like this 'MMM'. Whoever gets scammed by a 'get rich quick' scheme deserved it for being greedy. One would think that people would eventually know better? (apparently no)

When this MMM Global Republic of Bitcoin will collapse, the effect will be catastrophic.

I doubt this.

It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero.

Is that with his magic wand of bullshit or his crown of rofl?

Probably.

[yolalanda]

Hence, as theymos controls bitcoin.org, bitcointalk.org & /r/bitcoin, I'd request him to pin an awareness notification in all these sites.

Don't see why. This forum has a sub dedicated to ponzis.

[OgNasty]

I don't think theymos has any interest in spending his time identifying and warning about scams.

[Pattart]

Even if it is a scam, theymos won't put any warning about it, just like he does with any other scam. Theymos, the moderators, and the forum in general DOES NOT moderate scams. If you think something is a scam, open a scam accusation and if you are right, people will neg trust the account running the scam.

[tmfp]

Theymos won't intervene, the MMM shills have been around BCT for a long time and usually get a kicking, which is better than censored silence
e.g. https://bitcointalk.org/index.php?topic=1026379.0

Mavrodi may be a mad crook, but he's not stupid, he realised the potential of BTC for his scam, but I'm not as worried about him dumping and the price crashing as some people are.
Bitcoin's as good a medium as any for MMM to keep their loot in, I'd guess that they have been converting it back to fiat bit by bit  along the way.

[freedomno1]

It'll not only drown those who invested in the Ponzi, but may also take down the bitcoin price at ground zero.

Is that with his magic wand of bullshit or his crown of rofl?

It would be quite the achievement forum rules tend to give power to users to be aware of scams and the sort.
Can't find the original message but that one that says buy at your own risk or caveat emperor.

For the record it has run a few times
https://bitcointalk.org/index.php?topic=77276.0
http://bitcoinmagazine.net/ponzi-schemes-the-danger-of-high-interest-savings-funds/

That said he-he sometimes you just move money from one scam to another he-he lol

I withdrawed $1000 USD week ago for buying BFL Single (see screenshots on prev page).

Today I checked current rates and found that balance converted to USD increased for a bit more than $1000.

So I can order BFL Single every week without affecting USD balance

But i decided to order it every month as a little bonus for me, as I have different plan for rest money.

(Those were the days when It could have qualified as a listing on GLBSE)
Basically an asset that offers 40% return people can buy shares in then gamble on when it would collapse.
Time machines can be fun

Anybody daring to make an asset on GLBSE about this? I'm not 100% sure if Nefario would be ok with it though... on the other hand quite a few assets there could secretly (direct or via proxy) already be involved in MMM.

If whoever decides to do so is transparent and clearly makes potential ''investors'''aware of the risks I personally don't see any problems.

[gentlemand]

There would have to be ten Theymos clones if scams were moderated. I find it pretty stunning that anyone would fall for MMM, especially on here as people are so quick to call scumbags out. Posters themselves are good at drawing attention to anything nefarious.

[bitcoin revo]

There would have to be ten Theymos clones if scams were moderated. I find it pretty stunning that anyone would fall for MMM, especially on here as people are so quick to call scumbags out. Posters themselves are good at drawing attention to anything nefarious.

That's probably why MMM hasn't appeared here on the forum yet. Within 10 minutes of the thread being posted, all of the credibility of it would plummet to a fat zero. However, people in the real world can be amazingly stupid and don't pause to think about anything.

[rebuilder]

That's probably why MMM hasn't appeared here on the forum yet. Within 10 minutes of the thread being posted, all of the credibility of it would plummet to a fat zero. However, people in the real world can be amazingly stupid and don't pause to think about anything.

I'm not so sure. There have been obvious ponzis advertised on the forum before (while claiming to not be such), and despite constant warnings by level-headed forum members, people still threw their money at them. Remember pirateat40?

[gentlemand]

I'm not so sure. There have been obvious ponzis advertised on the forum before (while claiming to not be such), and despite constant warnings by level-headed forum members, people still threw their money at them. Remember pirateat40?

I really hope people are a little wiser than they were back then. There were certainly enough folks burnt by it to not want the same thing to happen to others. Having said people that are ravaged by the same old shit every day on here, but perhaps not quite to that scale.

[jacee]

I'm not so sure. There have been obvious ponzis advertised on the forum before (while claiming to not be such), and despite constant warnings by level-headed forum members, people still threw their money at them. Remember pirateat40?

I really hope people are a little wiser than they were back then. There were certainly enough folks burnt by it to not want the same thing to happen to others. Having said people that are ravaged by the same old shit every day on here, but perhaps not quite to that scale.

Well it's because people will never give upxsuch easy money  They are blinded with all the promises and thus they cannot see the risk anymore into what they can get from joining a ponzim They are also people, some uneducated enough though, but let's face it, if there is a given opportunity where you get a high interest profit from your money then probably, it'll be grabbed by anyone.

[gentlemand]

If their plans success, not only bitcoin price could crash, but more people & media will say bitcoin is ponzi or fake currency

As ever, Bitcoin remains neutral. It's the scum who are attracted to it who are the problem. This'll never go away so eventually people will have to figure this out for themselves.

[lemipawa]

If their plans success, not only bitcoin price could crash, but more people & media will say bitcoin is ponzi or fake currency

As ever, Bitcoin remains neutral. It's the scum who are attracted to it who are the problem. This'll never go away so eventually people will have to figure this out for themselves.

They are earning money for now so most likely they will not listen to us but will treat us as not so open minded individual or just spreading false accusations to their business. But when that system collapsed, that's the time they will realize that they should have listened.

[ajrah]

What about those who puts MMM on their signature space and Personal Message? Isn't it like promoting that ponzi scheme already and deserves a negative feedback?

[gentlemand]

What about those who puts MMM on their signature space and Personal Message? Isn't it like promoting that ponzi scheme already and deserves a negative feedback?

There's plenty of other dodgy things in signatures. Once they get started with nuking one then it's a slippery slope. I can see why they take a hands off approach even if some don't like it.