I can double your BTC - Proof!

[fascistmuffin]

what a load of crap, its called pyramid marketing scheme, why would he need your money to double if he could just use his own ?? its so he can use your money to pay others that payd b4 you and so on. but prob is when no one joins, no one gets paid...

Pyramid scheme involves people join under others while the funds move up the tree of people to the original. So far it doesn't look like any pyramid is forming. What you described is more of an advanced-fee fraud.

[hamburger]

what a load of crap, its called pyramid marketing scheme, why would he need your money to double if he could just use his own ?? its so he can use your money to pay others that payd b4 you and so on. but prob is when no one joins, no one gets paid...

Pyramid scheme involves people join under others while the funds move up the tree of people to the original. So far it doesn't look like any pyramid is forming. What you described is more of an advanced-fee fraud.

True, I remember a few years back while e-gold was used for these type of entertainment sites, a guy called Fred Schrock was locked away for doing this.
 

[dcrafti]

This is not a pyramid scheme.

I guarantee (not literally) that oldminer will get his money back, plus the promised extra.

That's because it is a Ponzi scheme. The first several investors will all get back their money, because it is initially about building up trust, and once the trust is there, more people, including the original people, will put in bigger amounts than the .01 he is asking for now.

Eventually, he pisses off with all the money that is left "invested" in the system. A higher proportion of people lose money in a Ponzi scheme than in a Pyramid scheme, because BitcoinBuilder is the the only one being given money, as opposed to a Pyramid scheme where the people higher up still end up making something.

So in short, it is totally a scam; just not the one that some people are thinking.

[haydent]

yer, im not up with the terminology, but the OP should go and get a job and stop degrading our intellectual conversations about jack

[dustintrammell]

what a load of crap, its called pyramid marketing scheme, why would he need your money to double if he could just use his own ?? its so he can use your money to pay others that payd b4 you and so on. but prob is when no one joins, no one gets paid...

edit: Pyramids are ok as long as your not left sitting on the pointy bit at the top

Actually, the pointy bit at the top is where you want to be in a pyramid scheme.  Everyone under you in the pyramid has paid into the pyramid and the funds flow upward.

I fail to see how this could be a pyramid scheme though, because generally in a pyramid scheme you require the people you brought in to bring in the same number of people below them, hence the pyramid shape.  Unless he's asking you to, once you've paid in, go find more people to pay in, it doesn't make any sense; he has to find ALL the people to pay in, which will take way too long and not pay out within any reasonable amount of time, thus destroying any confidence the early-adopters had in the scheme.

References:
http://en.wikipedia.org/wiki/Pyramid_scheme
http://www.sec.gov/answers/pyramid.htm

[dustintrammell]

This is not a pyramid scheme.

I guarantee (not literally) that oldminer will get his money back, plus the promised extra.

That's because it is a Ponzi scheme. The first several investors will all get back their money, because it is initially about building up trust, and once the trust is there, more people, including the original people, will put in bigger amounts than the .01 he is asking for now.

Eventually, he pisses off with all the money that is left "invested" in the system. A higher proportion of people lose money in a Ponzi scheme than in a Pyramid scheme, because BitcoinBuilder is the the only one being given money, as opposed to a Pyramid scheme where the people higher up still end up making something.

So in short, it is totally a scam; just not the one that some people are thinking.

Bingo, we have a winner (:  If this is a scam, you've likely described it exactly.

[haydent]

i think we already agreed it wasnt a pyramid scheme. scam none the less.

btw where's this proof ? the thread title implies there is proof but he has none... gay

[dustintrammell]

btw where's this proof ? the thread title implies there is proof but he has none... gay

His "proof" will be the initial people he talked into trying it confirming that they did indeed receive twice their BTC back.

[fascistmuffin]

btw where's this proof ? the thread title implies there is proof but he has none... gay

His "proof" will be the initial people he talked into trying it confirming that they did indeed receive twice their BTC back.

Yep, if it's a Ponzi that'll follow the precedent of the scheme.

If he really wanted to prove that it worked, he'd say how he's generating the funds. I doubt that'll happen though.

[getbitcoin]

Obvious scam is obvious.

[haydent]

he shouldnt act like he has proof when he doesnt yet... i think he's trying to trick us 

[MotorMouth]

This is a common con-game.  You meet a guy at a bar, he tells you he knows some stocks secret, and if you give him $10 he'll give you $20.

In a week you seem him again, here's your 20.

Do it again with 100.  He gives you 200...

Do it again with 500, he gives you 1000.

Then a few weeks go by and you dont' see him.

You see him again, and he's going oh man, I've got this great deal, I'm putting everything I got into it, and you go "I want in" and he goes "oh no, this one's too big for you, you need at least 40k in, and I'd feel bad if something went wrong..." and you go "no fuck that, you're good I want in" and so you give him everything you've got, mortgage the house, etc... and poof, the guy vanishes.  This is CLASSIC.

For small fees they come in good, but for large one's they game you.  If he can just double his money, then what's he fucking around with us for? 

Edit: My bad, didn't realize there was a second page.   Also it's called "Ponzi"? Gotcha.

[saykor]

Why you not send me 0.02 and i will back you 0.01 to double it?

[tc2606]

i smell an obvious scam.. what's the most someone here paid him

[wolf902]

so...is it a scam or not? (people who attempted it)

[Duffman]

Why you not send me 0.02 and i will back you 0.01 to double it?

this actually made me laugh

[MrWizard]

Obvious a Ponzi scheme, but I had good laugh reading all the comments. 

[raresaturn]

can we just skip the part where I send you .01 and you just send me the .01 that you would have had to pay me anyway?

1LVHHUTyyndSDKgripxBa6BBGSmLEdcgBR

thanks.

[Sovereign]

Ban.

[fascistmuffin]

He just told me the way he was getting the money and planning to double investments. I said earlier that I wouldn't spill the secret, but I really want to post that message since it was very funny.

I can say that, assuming if he's telling the truth, it's not a ponzi scheme... but is not quite legit either. The way he was wording the message makes me question if he was telling the truth or not though.

Oh well, I guess I paid 0.1BTC for a pretty funny PM though.