$360, MMM Ponzi?

[OROBTC]

...

I read a comment at Zero Hedge and another at Reddit today that a big part of the current price spike may be something related to a Ponzi going on in the Philippines.  The scheme is something called "MMM" and is being spread via Youtube videos (yeah, I know, weird).

A nearly 10% jump in one day (on top of the recent price increases) makes me wonder............

[Ibian]

Who cares.

[Alley]

Wow this is the first time I've heard of this....

[gentlemand]

How would Filipinos get money on to any of the major exchanges? That would take day or weeks or it wouldn't be possible at all. The Philippines is very well served with Bitcoin infrastructure compared to most place but it doesn't impact on the exchanges that set the price.

[OROBTC]

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ZH comment from knowledge member "seek"

http://www.zerohedge.com/news/2015-11-02/bitcoin-more-doubles-2015-lows-chinese-ignore-easing-capital-controls#comment-6740212

Reddit comment today:

https://www.reddit.com/r/Bitcoin/comments/3r2hvd/for_those_of_you_who_doubt_just_how_big_the_mmm/



If the Ponzi there is real (probably) and if it is consequential (maybe), this might be a good time to spend some BTC.

[criptix]

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ZH comment from knowledge member "seek"

http://www.zerohedge.com/news/2015-11-02/bitcoin-more-doubles-2015-lows-chinese-ignore-easing-capital-controls#comment-6740212

Reddit comment today:

https://www.reddit.com/r/Bitcoin/comments/3r2hvd/for_those_of_you_who_doubt_just_how_big_the_mmm/



If the Ponzi there is real (probably) and if it is consequential (maybe), this might be a good time to spend some BTC.

did you read his post?
i think your crystallball will give your a more accurate anwser then that guy.

1) he is guessing from youtube videos - really...?

2) why would a ponzi advertise a growing memberbase? -> think about what happens to a ponzi if there arent more people joining?

[spiderbrain]

Wow, this theory is really backed up by hard evidence. Totally blows the "Chinese hot money skirting capital controls" and "down trend overshoot" theories.

Got anything fresh on the moon landings?

[Mickeyb]

We were already discussing this in another thread yesterday. Nobody knows this for sure! These are all the rumors! For me it would be even weird for Bitcoin not to go up after all of the good news lately.

Bear trend had to finish, reversal had to happen and now we can connect this to the ponzi, this is that but we are all speculating and no-one really knows for sure!

I would say this is a BS story, but that's just my opinion.

[OROBTC]

...

ZH comment from knowledge member "seek"

http://www.zerohedge.com/news/2015-11-02/bitcoin-more-doubles-2015-lows-chinese-ignore-easing-capital-controls#comment-6740212

Reddit comment today:

https://www.reddit.com/r/Bitcoin/comments/3r2hvd/for_those_of_you_who_doubt_just_how_big_the_mmm/



If the Ponzi there is real (probably) and if it is consequential (maybe), this might be a good time to spend some BTC.

did you read his post?
i think your crystallball will give your a more accurate anwser then that guy.

1) he is guessing from youtube videos - really...?

2) why would a ponzi advertise a growing memberbase? -> think about what happens to a ponzi if there arent more people joining?

I don't know anything.  This guy "seek" at ZH is someone I have followed for a long time, he is smart and rich.  He knows more about BTC than I do.  Apparently the "MMM" (whatever that is) is being spread among the poor via YouTube.  I have only superficially researched this, like I wrote just now, I am reporting from Zero Hedge and Reddit.



EDIT: OK, skeptics, I will refrain from further comment.  We'll just wait on more news.

[solid12345]

Said it before in another thread but I just find it hard to believe a ponzi could gather this much money in a short 2-3 week time period to do this kind of volume and price rise.