MMM Global Republic of BTC - Sergei Mavrodi ponzi scheme! Stay away

[oda.krell]

This shit:



...is going to blow up in everyone's face at some point, and it will inevitably be blamed on crypto / Bitcoin itself, whether that's justified or not.

That said, for now, there's plenty of additional buying pressure, part of which might be due to the above activity, and that's going to influence price. Just as before: whether one likes that or not. Simply put, there are not 'good' or 'bad' trend factors in a narrow sense of market analysis.

Summarizing, a) I think something like MMM is absolutely vile (and I wonder why Facebook isn't shutting that community site down); b) the people that fall for it shouldn't be ridiculed, but educated / convinced that it's a bad idea to particiapte; c) an uptrend is an uptrend, even if it's influenced by less than brilliant reasons.

[Laosai]

At this internet age, it's amazing how people won't do even basic due diligence on the people behind the venture they are investing in

That's why they go for poor neighborhoods with lots of desperate uneducated people, same tactic used by Herbalife etc.
This is like stealing from children, a special place in hell is reserved for these monsters.

I'm somehow hurt by the bolded part cuz thats really what happening right now and you're referring on our country Philippines (  not only on PH but also in some part of Asia specifically on south east Asia.) Well that's the sad truth however I'm also getting annoyed with these idiots on our country still praising MMM , they even adore sergey mavrodi whenever it releases a new video for them speaking shit and sweet lies.

You sound like you are observing them silently from a distance through their FB page but yes they treat Mavrodi like a god and defend this scheme like they it's not going to collapse. You can even see them post their new cars, motorcycle and gadgets purchased from the earnings they get from MMM. I know it's bad to be happy when you see someone who suffers from an unfortunate event in life, but I want to see this MMM scheme collapse as soon as possible and I want to post on their FB page and say "see what I told you"

Yep, I'm observing them for months on some fb groups and pages but not silently, I used to discuss and argue with them using fb dummy accounts Actually I am warning them but still they insist MMM pays and its legit, then stopped cuz I realized I am just wasting my time arguing with idiots I also can't wait to see them whining when that ponzi owned by a criminal will collapse

Those are mainly people who are totally uneducated in terms of Bitcoin. Calling them idiots and hoping for them getting devastated asap is a somewhat asshole-ish attitude. But maybe my ethics are just wrong, though.

Well if that's so then so be it Maybe I'm an asshole

But how do you call those people who praise and defend a criminal? Isn't that idiotic?

[tmfp]

We must all remember that Mavrodi and his Magic Money have been around in fiat for far longer than they have been using bitcoin.
The whole fiat scam world is looking at using bitcoin for its obvious advantages to them re: anonymity and gray areas regarding regulation.

[worhiper_-_]

This shit:



...is going to blow up in everyone's face at some point, and it will inevitably be blamed on crypto / Bitcoin itself, whether that's justified or not.

That said, for now, there's plenty of additional buying pressure, part of which might be due to the above activity, and that's going to influence price. Just as before: whether one likes that or not. Simply put, there are not 'good' or 'bad' trend factors in a narrow sense of market analysis.

Summarizing, a) I think something like MMM is absolutely vile (and I wonder why Facebook isn't shutting that community site down); b) the people that fall for it shouldn't be ridiculed, but educated / convinced that it's a bad idea to particiapte; c) an uptrend is an uptrend, even if it's influenced by less than brilliant reasons.

I did some youtube searches and found out that Sergei is very good at creating cult like followings for his schemes. He was invited to talk shows and people seem to find a statement like "I wouldn have become president if it weren't for the government shutting down MMM" acceptable.

Crazy shit.

[winguard]

Good thing i read this thread so i can be aware of this ponzi. MMM are also posting in local Filipino forums advertising and trying to scam hapless victims about their easy money making schemes.

[lemipawa]

Good thing i read this thread so i can be aware of this ponzi. MMM are also posting in local Filipino forums advertising and trying to scam hapless victims about their easy money making schemes.

There's a lot of Filipino members of MMM and they are promoting in bitcoin FB groups and forums.
You'll be surprised to know that they even have physical branches now.
They claim that they are not an investment site but somewhat like a lending site.

[RyanLZ]

I do not like any Ponzi schemes. But it seems MMM is very effective in promoting bitcoin. So many people know about bitcoin now.

[gentlemand]

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

I can't understand Russian but perhaps there's someone here who can.

[jacee]

I do not like any Ponzi schemes. But it seems MMM is very effective in promoting bitcoin. So many people know about bitcoin now.

MMM does not, have you ever imagined once this ponzi scheme has finally collapsed? A lot of those people who has no idea what bitcoin really is but a tool or a fiat use in MMM a ponzi that they thought a shitty legal one will never go back into using bitcoin again unless they find another ponzi to join again. There is a risk for the bitcoin community also, do you know how MMM works? AFAIK what those MMM member does is just a pump and dump their coins. They are not really helping the bitcoin community. They are putting it's image in the center stage full of risks.

[Tstar]

I do not like any Ponzi schemes. But it seems MMM is very effective in promoting bitcoin. So many people know about bitcoin now.

MMM does not, have you ever imagined once this ponzi scheme has finally collapsed? A lot of those people who has no idea what bitcoin really is but a tool or a fiat use in MMM a ponzi that they thought a shitty legal one will never go back into using bitcoin again unless they find another ponzi to join again. There is a risk for the bitcoin community also, do you know how MMM works? AFAIK what those MMM member does is just a pump and dump their coins. They are not really helping the bitcoin community. They are putting it's image in the center stage full of risks.

MMM will be used to lower Bitcoin reputation. I hate these things! I don't even imagine how many people will be scammed by this MMM but I hope this will not lead to any accusations towards BTC.

Don't invest in this scam

[lemipawa]

I do not like any Ponzi schemes. But it seems MMM is very effective in promoting bitcoin. So many people know about bitcoin now.

MMM does not, have you ever imagined once this ponzi scheme has finally collapsed? A lot of those people who has no idea what bitcoin really is but a tool or a fiat use in MMM a ponzi that they thought a shitty legal one will never go back into using bitcoin again unless they find another ponzi to join again. There is a risk for the bitcoin community also, do you know how MMM works? AFAIK what those MMM member does is just a pump and dump their coins. They are not really helping the bitcoin community. They are putting it's image in the center stage full of risks.

MMM will be used to lower Bitcoin reputation. I hate these things! I don't even imagine how many people will be scammed by this MMM but I hope this will not lead to any accusations towards BTC.

Don't invest in this scam

As I've always said, it's just a matter of time and this scheme will collapse, i;m seeing big investments in this scheme, I see 20 BTC being invested like there's no tomorrow and they are earning 20% interest from that, easy money for now, but after a few more months, I can see them scratching their heads asking what happened.

[crairezx20]

MMM still alive and spreading. I dont understand why in mmm fb group still inviting and giving few proof that he can recieve a payment from mmm. but the other say that the site is scammed then here in our country there are many branches and making a lot of members. I saw the video of mmm that what is the step making money in mmm website..  share and get help and you can earn a money... just like i watch in you tube...

[tmfp]

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

I can't understand Russian but perhaps there's someone here who can.

He's mentioned "pause mode" in the past.
He's quite upfront about it, he says that if everyone wants to withdraw at the same time it will collapse lol.
And still they put money in.....
 

[lemipawa]

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

I can't understand Russian but perhaps there's someone here who can.

He's mentioned "pause mode" in the past.
He's quite upfront about it, he says that if everyone wants to withdraw at the same time it will collapse lol.
And still they put money in.....
 

that is what they are trying to avoid thats why they come up with high interest when you put your coins there and the longer you don't withdraw your coins the higher the interest... and a lot of them are falling for that. i would like to dare them for stress test, all of them withdrawing their funds and lets see how good are the staffs who puts them on queue for payout.

[worhiper_-_]

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

I can't understand Russian but perhaps there's someone here who can.

He's mentioned "pause mode" in the past.
He's quite upfront about it, he says that if everyone wants to withdraw at the same time it will collapse lol.
And still they put money in.....
 

Sorta like how capital controls work eh? I'm not surprised MMM has transacted millions, lots of the money there must be making circles within the system.

[favdesu]

sounds like something Josh Garza would be interested in. now find the link between this parasite and MMM ponzi...

[allyouracid]

sounds like something Josh Garza would be interested in. now find the link between this parasite and MMM ponzi...

The surname of both ends with a vowel? ^^

[nike6]

Funny think about this MMM group, they don't want to use the word "invest" they call it "provide help", if your investment reaches it time to be withdrawn, they ask for "get help" or "withdraw", from that point those who want to invest will send BTC to those who requested for help. What if Sergey created like hundreds of bogus accounts so he cant have a piece of his creation without investing

Why should he create fake account if he can invest as normal users to receive his 100%?
Why screw up his system with this trick ?

[nike6]

This was an obvious scam to say the least..
I've seen a bunch of their spam lately.

Someone will also explain where is the scam exactly?

... That MMM scheme is a kind of Ponzi, no matter what disguising words they use to describe it...

I hope this is not the end of the story.

Also because there is no hierarchy in these scheme.

Disclaimer: I don't know Mavrodi but simply entering in the system working process

[tmfp]

Funny think about this MMM group, they don't want to use the word "invest" they call it "provide help", if your investment reaches it time to be withdrawn, they ask for "get help" or "withdraw", from that point those who want to invest will send BTC to those who requested for help. What if Sergey created like hundreds of bogus accounts so he cant have a piece of his creation without investing

Why should he create fake account if he can invest as normal users to receive his 100%?
Why screw up his system with this trick ?

The whole system is a trick.

I have been watching the progress of MMM South Africa, a stream of naive victims with very little understanding of what's going on, just Mavrodi's cynical lies as hopeful way out of poverty. It's quite sad.

This was an obvious scam to say the least..
I've seen a bunch of their spam lately.

Someone will also explain where is the scam exactly?

The scam is in the centrally controlled value and convertability of Mavros. As soon as the pyramid peaks and begins to fall in on itself, the shitcoin/token becomes what it was all along: worthless.