ChartBuddy
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Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 27, 2015, 04:02:07 PM |
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peonminer
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October 27, 2015, 04:06:27 PM |
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as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims
so afterall it should lead to revenue but not necessarily buy pressure
Does he pay out in money? I would expect him to pay out in bitcoin too, for the same reason that he takes bitcoin. Many of the victims will surely re-invest all their payouts in the scheme, and then add some more money. Thus the net effect of the ponzi should be to lock up increasing amounts of bitcoin in (a) the members' accounts, (b) in transit, and (c) in Mavrodi's deep pockets. You may be right in terms of net amount. But his scam is subtler than that. He never takes in bitcoin or cash directly, nor pays it out. Instead, it is a decentralized ponzi. It involves individuals making requests for contributions, and other people fulfilling those requests directly, using bitcoin or bank transfer. However, the twist is that before you make a request, you have to make a contribution to someone else who has made a request. And the amount of money you can request is tied to their own virtual currency, Mavro. You earn Mavro by making a contribution, and then that Mavro grows over time, and you can accelerate that growth by doing "tasks" (why appear to be social networking, i.e. growing the scam). I think you may also to be able to "by" Mavro. Presumably, the way MMM makes money is either in the selling of Mavro, or there is some kind of monetization of tasks.  |
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bobabouey2
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October 27, 2015, 04:10:14 PM |
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as i understand it one new victim buys btc and sends them to MMM which takes some of the BTC and sells them to pay the older victims
so afterall it should lead to revenue but not necessarily buy pressure
Does he pay out in money? I would expect him to pay out in bitcoin too, for the same reason that he takes bitcoin. Many of the victims will surely re-invest all their payouts in the scheme, and then add some more money. Thus the net effect of the ponzi should be to lock up increasing amounts of bitcoin in (a) the members' accounts, (b) in transit, and (c) in Mavrodi's deep pockets. You may be right in terms of net amount. But his scam is subtler than that. He never takes in bitcoin or cash directly, nor pays it out. Instead, it is a decentralized ponzi. It involves individuals making requests for contributions, and other people fulfilling those requests directly, using bitcoin or bank transfer. However, the twist is that before you make a request, you have to make a contribution to someone else who has made a request. And the amount of money you can request is tied to their own virtual currency, Mavro. You earn Mavro by making a contribution, and then that Mavro grows over time, and you can accelerate that growth by doing "tasks" (why appear to be social networking, i.e. growing the scam). I think you may also to be able to "by" Mavro. Presumably, the way MMM makes money is either in the selling of Mavro, or there is some kind of monetization of tasks. Just finished setting up an account to check it out, its actually a bit of a pain. The tasks do indeed seem to be social networking promoting MMM. But I'm not sure how they would be monetized by MMM. For example, here is the one for bitcointalk: #1421: Create a signature the top at the forum bitcointalk.org ONLINE > Forums #HashTags: null Follow the link https://bitcointalk.org Click “Register” Fill in the registration form. Go to the page of your profile Click on the profile configurations. Write a short and unique advertisement offer. Write a personal post Change the profile Go to the page of your profile Take a screenshot of the your profile. Send the screenshot for the revision by moderator. In the field for links enter your e-mail |
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wpalczynski
Legendary
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Activity: 1456
Merit: 1000
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October 27, 2015, 04:16:39 PM |
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REMEMBER REMEMBER THE MOON IN NOVEMBER!!
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gentlemand
Legendary
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Activity: 2590
Merit: 3013
Welt Am Draht
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October 27, 2015, 04:21:19 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
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tarmi
Legendary
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Activity: 1218
Merit: 1010
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October 27, 2015, 04:21:23 PM |
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REMEMBER REMEMBER THE MOON IN NOVEMBER!!
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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October 27, 2015, 04:24:15 PM |
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finex did not even reach 300.. big 3k wall there now.
putting some shorts on, see you at 280.
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bobabouey2
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October 27, 2015, 04:26:38 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
Check their success page. http://mmmglobal.org/wineletters/I see a lot more Chinese than South African shack-dwellers. |
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dloghwak
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October 27, 2015, 04:29:31 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
Seems like you couldn't even find South Africa on a world map... |
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ImI
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Activity: 1946
Merit: 1019
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October 27, 2015, 04:31:16 PM
Last edit: October 30, 2015, 12:55:45 PM by ImI |
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finex did not even reach 300.. big 3k wall there now.
putting some shorts on, see you at 280.
 oldies but goldies  |
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tarmi
Legendary
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Activity: 1218
Merit: 1010
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October 27, 2015, 04:33:33 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
lel prime example of cultural racism. doesn't surprise me at all. this place is full of bigots. |
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peonminer
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October 27, 2015, 04:44:04 PM |
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finex did not even reach 300.. big 3k wall there now.
putting some shorts on, see you at 280.
____ |
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yolalanda
Newbie
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Activity: 56
Merit: 0
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October 27, 2015, 04:53:45 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
Seems like you couldn't even find South Africa on a world map... He don't have to, he gots Google. Just one of the advantages of not being stuck in some stinking third-world backwater  |
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ChartBuddy
Legendary
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Activity: 2170
Merit: 1776
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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October 27, 2015, 05:01:59 PM |
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JimboToronto
Legendary
 Online
Activity: 4004
Merit: 4465
You're never too old to think young.
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October 27, 2015, 05:04:05 PM
Last edit: October 27, 2015, 05:14:59 PM by JimboToronto |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
South Africa? Isn't that the place with all the gold and diamonds?  |
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peonminer
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October 27, 2015, 05:11:21 PM |
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The thing I don't get with this MMM thing is, how do broke ass people living in shacks in South Africa get anywhere near an exchange that counts?
South Africa? Isn't that the place with all the gold and diamonds?  |
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TaurusBit
Full Member
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Activity: 183
Merit: 100
TaurusBit.com Administrator
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October 27, 2015, 05:18:59 PM |
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No one is selling, up we go.
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JimboToronto
Legendary
Online
Activity: 4004
Merit: 4465
You're never too old to think young.
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October 27, 2015, 05:22:37 PM |
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!! pop
Newbie
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Activity: 56
Merit: 0
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October 27, 2015, 05:34:36 PM |
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No one is selling, up we go.
Please tell me you're joking. I worry so... |
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marcus_of_augustus
Legendary
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Activity: 3920
Merit: 2348
Eadem mutata resurgo
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October 27, 2015, 05:37:32 PM |
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there is no long or short in bitcoin ... you are either in bitcoin or you are out of bitcoin.
That's just money.
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