MMM affect bitcoin price

[haileysantos95]

MMMGlobal website claims 200 million users worldwide. Crazy.... But, just for the exercise, let's reduce that by a factor of 10.....

So, say 20,000,000 people want to play, only uᴉoɔʇᴉq allowed.
IF the MMM scheme has required $100 original stake money from each of 20,000,000 people since 2011, that's $2bn in the basic system. It can't be any less, as the scheme would implode as soon as the amount of cash circulating dropped.

uᴉoɔʇᴉq's current market cap ~$6bn.....

20 millions of idiots users?
:O mmmm I have some doubts about such claims.....  But probably we are so near to see this MLM collapse.

I think there is fewer than 2 million MMM users. If it is 200 million, the uᴉoɔʇᴉq price will be more than 1000 billion.

first of all, each and every one of these numbers in all the posts are being made out of nowhere and pure speculation. so there is no proof of such big numbers.

also, all these scams have a cap that when they reach it they close the scam and run away. if it was 2 or 200 million users, it would mean a massive amount of investment and no scammer is going to wait around for more, they close shop and run away already.

Yes this is right,scam web site doesnt really affect bitcoin price and only market players can affect so much on bitcoin prices.

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[tmfp]

first of all, each and every one of these numbers in all the posts are being made out of nowhere and pure speculation. so there is no proof of such big numbers.

also, all these scams have a cap that when they reach it they close the scam and run away. if it was 2 or 200 million users, it would mean a massive amount of investment and no scammer is going to wait around for more, they close shop and run away already.

Sure, because of the nature of Bitcoin most attempts to quantify or analyse usage is based on limited data.
There is little doubt, if you do a bit of research and accept certain things at face value, that MMMGobal has a large user base.
Also, MMM isn't your average two bit scam, it has a track record in fiat of massive numbers, is run by experienced admin and has had a new lease of life courtesy of bitcoin.
You are guessing, just like we are, what the "runaway" number is.
To just say "it's a scam" and ignore it as a driver behind Bitcoin use and its price is a bit short sighted imo.

BTW, is 'bitcoin' reading upside down for you too? Must be April.... 

[Jmild1]

first of all, each and every one of these numbers in all the posts are being made out of nowhere and pure speculation. so there is no proof of such big numbers.

also, all these scams have a cap that when they reach it they close the scam and run away. if it was 2 or 200 million users, it would mean a massive amount of investment and no scammer is going to wait around for more, they close shop and run away already.

Sure, because of the nature of uᴉoɔʇᴉq most attempts to quantify or analyse usage is based on limited data.
There is little doubt, if you do a bit of research and accept certain things at face value, that MMMGobal has a large user base.
Also, MMM isn't your average two bit scam, it has a track record in fiat of massive numbers, is run by experienced admin and has had a new lease of life courtesy of uᴉoɔʇᴉq.
You are guessing, just like we are, what the "runaway" number is.
To just say "it's a scam" and ignore it as a driver behind uᴉoɔʇᴉq use and its price is a bit short sighted imo.

BTW, is 'uᴉoɔʇᴉq' reading upside down for you too? Must be April....  

Tired of them giving lousy argument, everyone here only thginking  MMM is just a little piece of shit scam without analyzing how big MMM is. Just give them a desrcriptive word that will draw on their mind how big MMM is. Maye they will realize.

[tmfp]

Tired of them giving lousy argument, everyone here only thinking  MMM is just a little piece of shit scam without analyzing how big MMM is. Just give them a descriptive word that will draw on their mind how big MMM is. Maybe they will realize.

The idea of a scam possibly being a reason for bitcoin's popularity (and price) makes people uncomfortable.

Let's try this...most functions of MMMGlobal are accessed thru mmmoffice.com, it's the log in page.

In February 2016 it had 8,500,000 visits and is in the top 5000 visited sites in the world, according to SimilarWeb




Or, to put it another way, nearly twice the number of visits of our beloved centre of the BitUniverse (and mmmoffice.com has no signature campaign spammers)...  

[tmfp]

Athough not directly related to this thread, MMM has gone into "freeze mode" pretty much everywhere. Sergei's stopped his weekly update vids too....

From "Andrew Globalsman", a Moscow based admin for South Africa

Many people from the different countries (Philippines, South Africa, Nigeria, Turkey, Brazil, etc) ask the same questions: “Why mavroz are not getting unfrozen after the realease date?” So, programmers said there is a delay in the work of the script and mavros are getting unfrozen with a few days delay. The more participants, the higher server load.
Programmers are making adjustments. They launched more crons....and the queue for unfreezing should be processed it and the problem will be sorted out. We apologize for a glitch. But we will sort it out. MMM is our cause!

 

[nydiacaskey01]

Athough not directly related to this thread, MMM has gone into "freeze mode" pretty much everywhere. Sergei's stopped his weekly update vids too....

From "Andrew Globalsman", a Moscow based admin for South Africa

Many people from the different countries (Philippines, South Africa, Nigeria, Turkey, Brazil, etc) ask the same questions: “Why mavroz are not getting unfrozen after the realease date?” So, programmers said there is a delay in the work of the script and mavros are getting unfrozen with a few days delay. The more participants, the higher server load.
Programmers are making adjustments. They launched more crons....and the queue for unfreezing should be processed it and the problem will be sorted out. We apologize for a glitch. But we will sort it out. MMM is our cause!

 

That freeze mode is everywhere I guess. They even implemented a sponsor a new member and get 10% of old mavro unfrozen but guess what when anyone placed a get help request or withdrawal, it will take weeks before someone will be assigned to Help you or fund your Get Help request. MMM members are truly brain washed.

[Jmild1]

Athough not directly related to this thread, MMM has gone into "freeze mode" pretty much everywhere. Sergei's stopped his weekly update vids too....

From "Andrew Globalsman", a Moscow based admin for South Africa

Many people from the different countries (Philippines, South Africa, Nigeria, Turkey, Brazil, etc) ask the same questions: “Why mavroz are not getting unfrozen after the realease date?” So, programmers said there is a delay in the work of the script and mavros are getting unfrozen with a few days delay. The more participants, the higher server load.
Programmers are making adjustments. They launched more crons....and the queue for unfreezing should be processed it and the problem will be sorted out. We apologize for a glitch. But we will sort it out. MMM is our cause!

 

His last vid says he will give video if there's necessary a news.
https://www.youtube.com/watch?v=6zORQDKxwQU

[tmfp]

Dear participants!
We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to able to pay 100% per month. We can easily pay 30% per month (and we proved it in practice in many countries), but 100% is too much even for us.
That’s why the RB will be closed down.
All the participants’ RB-Mavro are transferred to the MMM-structure of the countries which the participants come from. If there is no MMM-structure working in this country, it will be created within two weeks from the date of this announcement.
All RB-Mavro will be demonstrated as “old” Mavro in PO. Any operations with them are impossible. Gradually, as your country will be developing, they will be paid back. 10% of the total input of the system will be spent on repaying “old” Mavro. This practice has already been tested in many countries and proved that it works. It usually takes a half a year to pay back old” Mavro.
This news is not very pleasant but there is nothing that can be done about it. It”s not the end of the world. We just have to wait a bit.
We hope for understanding, Administration 

[Jmild1]

Dear participants!
We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to able to pay 100% per month. We can easily pay 30% per month (and we proved it in practice in many countries), but 100% is too much even for us.
That’s why the RB will be closed down.
All the participants’ RB-Mavro are transferred to the MMM-structure of the countries which the participants come from. If there is no MMM-structure working in this country, it will be created within two weeks from the date of this announcement.
All RB-Mavro will be demonstrated as “old” Mavro in PO. Any operations with them are impossible. Gradually, as your country will be developing, they will be paid back. 10% of the total input of the system will be spent on repaying “old” Mavro. This practice has already been tested in many countries and proved that it works. It usually takes a half a year to pay back old” Mavro.
This news is not very pleasant but there is nothing that can be done about it. It”s not the end of the world. We just have to wait a bit.
We hope for understanding, Administration 

Woah, may I know where you get that source?

[tmfp]

https://www.youtube.com/watch?v=CO-bqhzkv9E

[UngratefulTony]

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

[Denker]

So this Ponzi finally shuts down and Bitcoin lost around 2% of value so far.
Let's wait how this will develop the next few days. If nothing more serious in terms of price decline will happen I think that's it.
Bitcoin will survive it and the impact imo will not be that big as some here predicted.

[tmfp]

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

MMMGlobal and associated sites actually registered in 2014. Tracking its growth is difficult but see the graphs I have posted here. It could be inferred that the late 2015 rise in price and popularity of MMMGlobal were similar, so in answer to your question, maybe ~$250 when Global really got going.

So this Ponzi finally shuts down and Bitcoin lost around 2% of value so far.
Let's wait how this will develop the next few days. If nothing more serious in terms of price decline will happen I think that's it.
Bitcoin will survive it and the impact imo will not be that big as some here predicted.

All that's happened is a quantity of Bitcoin has changed ownership, from scammed to scammers.
It doesn't mean that whoever is behind MMM will immediately cash out into fiat. Why should they?

[Denker]

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

MMMGlobal and associated sites actually registered in 2014. Tracking its growth is difficult but see the graphs I have posted here. It could be inferred that the late 2015 rise in price and popularity of MMMGlobal were similar, so in answer to your question, maybe ~$250 when Global really got going.

So this Ponzi finally shuts down and Bitcoin lost around 2% of value so far.
Let's wait how this will develop the next few days. If nothing more serious in terms of price decline will happen I think that's it.
Bitcoin will survive it and the impact imo will not be that big as some here predicted.

All that's happened is a quantity of Bitcoin has changed ownership, from scammed to scammers.
It doesn't mean that whoever is behind MMM will immediately cash out into fiat. Why should they?

Don't know.Could be several reasons. Maybe the scammers on top only saw Bitcoin as a tool as you said and prefers to have fiat.Or he finds some realtor who accepts Bitcoin for a new villa.Or a dealer who accepts it for vintage cars.And realtors and dealers would convert back to fiat.I'm just making some pure wild maybe dumb guesses here.
To be honest I don't care.And if they hold Bitcoin for whatever reason that's fine to me as well.
I just feel sorry for the naive people who were fallen for that sh**!Except the greedy ones.They got what they deserve.

[vero]

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

MMMGlobal and associated sites actually registered in 2014. Tracking its growth is difficult but see the graphs I have posted here. It could be inferred that the late 2015 rise in price and popularity of MMMGlobal were similar, so in answer to your question, maybe ~$250 when Global really got going.

So this Ponzi finally shuts down and Bitcoin lost around 2% of value so far.
Let's wait how this will develop the next few days. If nothing more serious in terms of price decline will happen I think that's it.
Bitcoin will survive it and the impact imo will not be that big as some here predicted.

All that's happened is a quantity of Bitcoin has changed ownership, from scammed to scammers.
It doesn't mean that whoever is behind MMM will immediately cash out into fiat. Why should they?

Don't know.Could be several reasons. Maybe the scammers on top only saw Bitcoin as a tool as you said and prefers to have fiat.Or he finds some realtor who accepts Bitcoin for a new villa.Or a dealer who accepts it for vintage cars.And realtors and dealers would convert back to fiat.I'm just making some pure wild maybe dumb guesses here.
To be honest I don't care.And if they hold Bitcoin for whatever reason that's fine to me as well.
I just feel sorry for the naive people who were fallen for that sh**!Except the greedy ones.They got what they deserve.

sorry i think if who behind MMM use bitcoin to buy a new villa or vintage car it will give a good impact on the bitcoin and will certainly be followed by the price increase instead of decrease in prices.

[gentlemand]

I haven't been paying enough attention to figure out how this sexy Russian guy makes the money. What's the relationship between Mavros and coins? Is he sitting on a large pile or is evenly distributed between all the mugs?

[Herbert2020]

Does anyone recall what the BTC price was... when MMM Republic of Bitcoin™ first fired up?

MMMGlobal and associated sites actually registered in 2014. Tracking its growth is difficult but see the graphs I have posted here. It could be inferred that the late 2015 rise in price and popularity of MMMGlobal were similar, so in answer to your question, maybe ~$250 when Global really got going.

So this Ponzi finally shuts down and Bitcoin lost around 2% of value so far.
Let's wait how this will develop the next few days. If nothing more serious in terms of price decline will happen I think that's it.
Bitcoin will survive it and the impact imo will not be that big as some here predicted.

All that's happened is a quantity of Bitcoin has changed ownership, from scammed to scammers.
It doesn't mean that whoever is behind MMM will immediately cash out into fiat. Why should they?

Don't know.Could be several reasons. Maybe the scammers on top only saw Bitcoin as a tool as you said and prefers to have fiat.Or he finds some realtor who accepts Bitcoin for a new villa.Or a dealer who accepts it for vintage cars.And realtors and dealers would convert back to fiat.I'm just making some pure wild maybe dumb guesses here.
To be honest I don't care.And if they hold Bitcoin for whatever reason that's fine to me as well.
I just feel sorry for the naive people who were fallen for that sh**!Except the greedy ones.They got what they deserve.

every scam of this nature is bound to come to and end, they all have an expiration date,  it is not about preferring fiat. in fact i think they prefer bitcoin much more than fiat because it is harder to follow bitcoin to the real owner and find the scammers.

i am interested to see if it can affect the price of bitcoin at all!

[zby]

I think that MMM was in a big part responsible for the run up to 500 last year - because the new MMM players were buying bitcoins to invest there. But the collapse of MMM is probably already priced in - because first the Chinese branch (which I assume to be the biggest one) already defaulted last year and second during course of the scam people or the Mavrodi accomplices were probably constantly caching out from mavrodis to BTC to cash balancing out the demand created by the new players.

[arseaboy]

this ponzi really affected bitcoin last year because many members bought the coin to joined the company, it reflects because we feel the fluctuation, but still I guess that's diff story already as many companies embrace bitcoin process for orders and payments I should say that the coin already established itself.

[Tzupy]

MMMGlobal on Google trends