MMM the reason for this explosion?

[voephilisI]

I red several articles about those MMM project in Africa and the far east. Could it really work? What if it is a real ponzi?
Would be bad for Bitcoin I think...

http://mmmdy.com/

http://rsa-mmm.net/

[1714041391]

1714041391

[1714041391]

1714041391

[shorena]

I red several articles about those MMM project in Africa and the far east. Could it really work? What if it is a real ponzi?
Would be bad for Bitcoin I think...
-snip-

Its a ponzi and as such its working, just not the way some people might expect.

[newbitcoins]

All Ponzi scheme is bad. However, it might raise the awareness of bitcoin among ordinary people. I hope those people do not lose money as a result.

[ajrah]

I guess it might be one of the reason why there's a sudden climb of Bitcoins rate since MMM uses Bitcoins as it's way to pay it's members, meaning they are one of the driving force nowadays why theres a demand of Bitcoins however, this guys are not the kind of Bitcoin holders the keep em while it's low until they reached a certain level to sell. This guys from MMM will just dump their Bitcoins once they received it.

[!! pop]

... I hope those people do not lose money as a result.

Ponzis are great investments, 110% impossible to lose money.

[newbitcoins]

So these new bitcoin users know how to operate the bicoin wallet? I thoght it is quite difficult for ordinary people to do that.

[!! pop]

So these new bitcoin users know how to operate the bicoin wallet? I thoght it is quite difficult for ordinary people to do that.

Not at all!

Using bit-coin is intuitive and simple. Fig. 1 depicts a team of Bit coin enthusiasts explaining the basics of operating a 'bit~coin wallet' (not to be confused with the 'bitcoin address') to a young couple they've recently snared at a 'BitCoin meet-up.'

http://s9.postimg.org/axb05hpsv/Capture.png

                                            Fig. 1

[ajrah]

So these new bitcoin users know how to operate the bicoin wallet? I thoght it is quite difficult for ordinary people to do that.

MMM works like an MLM and they conduct regular seminars and this is not done online, we are talking about face to face seminars and sometimes one on one discussion of the ponzi scheme so don't be surprised if they know how to use a Bitcoins wallet. They will do everything to make sure they sponsor a new victim of this scheme.

[indiguy]

Just heard about this from a friend too and I do believe its a ponzi scam. No one in the right mind would give money taht way and sure thing something is coming the next days. And don't expect to get your money back because you can't file dispute with btc.

[bassclef]

The market was ready to move up, ponzi or not. People always find news to associate with rallies and crashes, but the truth is supply and demand dictate market movements and news is usually secondary.

[BitMaxz]

Thats a ponzi site bro and still preading whole over the world to scam us. This mmm in my country has a bad record and people have been scammed.. so beware of that ponzi site.

[unent]

This guy said the MMM ponzi declared "pause mode" (freeze withdrawals) a few days ago. Have they reopened withdrawals, or are they still blocked? It's difficult getting information about it by Googling. All ponzis collapse at the end of the day, and I'd like to be forewarned about the time the MMM ponzi will collapse.

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso

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

https://youtu.be/hW3i2FKt3Wg

[newbitcoins]

I though MMM bitcoin scam started not so long a ago. It might take some time for it to collapse. I am looking forward to seeing its collapse.

[solid12345]

I think people are seriously overestimating one crook being responsible for bringing in tens of millions of dollars of volume everyday for the last month.