[Mpex.co] The Scientology of Bitcoin Finance?

[jimmothy]

• 100% of revenue past 4 months from new investors
• 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate.
• S.MPOE has generated just about a billion dollars' worth of new wealth for its holders
• Earn 5btc for recruiting a new investor
• Monthly statements mean we are 100% legit

Compare to:

• A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from existing capital or new capital paid by new investors, rather than from profit earned by the individual or organization running the operation.
• Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.
• The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme

and

Typically, extraordinary returns are promised on the original investment[5] and vague verbal constructions such as "hedge futures trading", "high-yield investment programs", or "offshore investment" might be used. The promoter sells shares to investors by taking advantage of a lack of investor knowledge or competence, or using claims of a proprietary investment strategy which must be kept secret to ensure a competitive edge.

Ponzi schemes sometimes commence operations as legitimate investment vehicles, such as hedge funds. For example, a hedge fund can degenerate into a Ponzi scheme if it unexpectedly loses money (or simply fails to legitimately earn the returns promised and/or thought to be expected) and the promoters, instead of admitting their failure to meet expectations, fabricate false returns and, if necessary, produce fraudulent audit reports.

A wide variety of investment vehicles or strategies, typically legitimate, have become the basis of Ponzi schemes. For instance, Allen Stanford used bank certificates of deposit to defraud tens of thousands of people. Certificates of deposit are usually low-risk and insured instruments, but the Stanford CDs were fraudulent.[6]

Initially the promoter will pay out high returns to attract more investors, and to lure current investors into putting in additional money. Other investors begin to participate, leading to a cascade effect. The "return" to the initial investors is paid out of the investments of new entrants, and not out of profits.

Often the high returns encourage investors to leave their money in the scheme, with the result that the promoter does not have to pay out very much to investors; he simply has to send them statements showing how much they have earned. This maintains the deception that the scheme is a fund with high returns.

Promoters also try to minimize withdrawals by offering new plans to investors, often where money is frozen for a longer period of time, in exchange for higher returns. The promoter sees new cash flows as investors are told they cannot transfer money from the first plan to the second. If a few investors do wish to withdraw their money in accordance with the terms allowed, their requests are usually promptly processed, which gives the illusion to all other investors that the fund is solvent.

Source: http://en.wikipedia.org/wiki/Ponzi_scheme

[Draino]

to be fair, i don't think there's any particular evidence of fraud

and the more i learn of derivatives, the more i realize this setup fits the mold..

the model in my head: useful to hedge certain situations, but mostly as a way to profit from careless investors--without being deceitful (if not disingenuous).

[Draino]

That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this."

you know, i'll prefer this to michelle obama any day

the future is getting weird(er)

[jimmothy]

Mpex is what you get when you combine a ponzi scheme, a pyramid scheme, and an options trading bot (gambling bot)

[Kosmatos]

You all should listen to Chris Odom's talk at BTCMIAMI on January 25th 2014.

Entities like MPEX that require you to trust them will cease to exist. Do yourself a HUGE favor: http://letstalkbitcoin.com/chris-odom-on-opentransactions/#.Uu-8ufldV1Y

[Duffer1]

so much luls for you
cult of L. Ron Popescu,
Jimmothy confused

[MPOE-PR]

You all should listen to Chris Odom's talk at BTCMIAMI on January 25th 2014.

Entities like MPEX that require you to trust them will cease to exist. Do yourself a HUGE favor: http://letstalkbitcoin.com/chris-odom-on-opentransactions/#.Uu-8ufldV1Y

Yeah dude, totally, shit will cease to exist because some derp said something on his vlog somewhere. This is definitely how things work.

PS. Apparently you did get a lol out of MP. Well done, want a cookie?

[davout]

Somebody is betting big that btc will hit 5000 USD/BTC? Do I have that right? So if BTC hits 5000, MP loses a bunch of money but we are all rich, if btc does not hit 5000 then MP (and his shareholders) make a bunch of money? Do I have that right?

It's the opposite.

[ThickAsThieves]

Somebody is betting big that btc will hit 5000 USD/BTC? Do I have that right? So if BTC hits 5000, MP loses a bunch of money but we are all rich, if btc does not hit 5000 then MP (and his shareholders) make a bunch of money? Do I have that right?

It's the opposite.

Is it?

[davout]

Somebody is betting big that btc will hit 5000 USD/BTC? Do I have that right? So if BTC hits 5000, MP loses a bunch of money but we are all rich, if btc does not hit 5000 then MP (and his shareholders) make a bunch of money? Do I have that right?

It's the opposite.

Is it?

Isn't it? If you have the option to sell at a given strike, the option is worthless if the spot is above the strike and is profitable if the spot is below the strike (minus the purchase cost of the option).

[alabamafan1]

According to that chatlog the large option purchases were puts not calls...so whoever this person is, is betting that the USD price of BTC is less then $500, $470, etc. How much total did this person pay in options?

[davout]

According to that chatlog the large option purchases were puts not calls...so whoever this person is, is betting that the USD price of BTC is less then $500, $470, etc. How much total did this person pay in options?

It's in the log

[ThickAsThieves]

According to that chatlog the large option purchases were puts not calls...so whoever this person is, is betting that the USD price of BTC is less then $500, $470, etc. How much total did this person pay in options?

It's in the log

They are written Puts sold to MPEX. Thus, the opposite of what you said.

[davout]

According to that chatlog the large option purchases were puts not calls...so whoever this person is, is betting that the USD price of BTC is less then $500, $470, etc. How much total did this person pay in options?

It's in the log

They are written Puts sold to MPEX. Thus, the opposite of what you said.

Yep, that was the part I missed, I thought they were bought

[User705]

I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits?

Here's some interesting actual data: the original shares were sold through a blind placement. They went for 9085 satoshi on the first round and 2433 satoshi on the 2nd round. Currently the shares trade around 90,000 satoshi. That's a 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate S.MPOE has generated just about a billion dollars' worth of new wealth for its holders.

Which favorably compares with the sum total of all Bitcoin related ventures, plus all alt-chains, plus everything else. MPEx is, quite simply, the biggest thing that ever happened in this space.

On the other score: MPEx has been humiliating the SEC in public since 2012. Moreover, the DFS itself came to the conclusion that MP's 2012 article on the topic of Bitcoin regulation is both sound and controls the matter. That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this."

Sooner or later you're going to just learn to deal with it: there are huge things in Bitcoin, whether you agree or not, whether you understand how they work or not. They don't give a shit about you, or your government. Again, whether you agree or not. Such is life.

Wow your ponzi has increased in value from when it sold ~1 million shares to the point where it sold 150 million? What about all those idiots along the way that didn't get in at ipo and bought/are still buying absurdly overpriced shares in this ponzi?

If I can find 1 idiot to buy 1 share of my company (which will have 100 trillion shares) for 0.01btc does that mean my company is worth 1 trillion bitcoins? Of course not.

You must be huffing paint if you think mpex generated 1 billion usd worth of wealth for its users. That statement is an flat out lie and you know it. You moved around 14k worth of wealth last year and your ponzi (with 85% shares unsold to public) is evaluated at 1 billion usd.

You are right about mpex being the biggest thing in this space. But only in the space of bitcoin ponzi schemes.

Your blog posts are so embarrassing it is honestly a waste of time reading. You pretend that bitcoin cannot be regulated by the SEC because it is virtual money. That statement might hold grounds with the armchair investors/mpex cult members but anyone not involved in this ponzi will tell you that that statement is bullshit and would never hold up in court.

Everything you say is carefully constructed to deceive those with a lack of understanding of real world finance. But I guess it takes 30btc for some to learn a life lesson (on how to lose 30btc or more).

Since predicting the most obvious shit elevates one to the status of "god of bitcoin finance" and I predicted that all of mpex revenue is from new recruits does that make me a god in your eyes?

So why haven't you?

[jimmothy]

I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits?

Here's some interesting actual data: the original shares were sold through a blind placement. They went for 9085 satoshi on the first round and 2433 satoshi on the 2nd round. Currently the shares trade around 90,000 satoshi. That's a 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate S.MPOE has generated just about a billion dollars' worth of new wealth for its holders.

Which favorably compares with the sum total of all Bitcoin related ventures, plus all alt-chains, plus everything else. MPEx is, quite simply, the biggest thing that ever happened in this space.

On the other score: MPEx has been humiliating the SEC in public since 2012. Moreover, the DFS itself came to the conclusion that MP's 2012 article on the topic of Bitcoin regulation is both sound and controls the matter. That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this."

Sooner or later you're going to just learn to deal with it: there are huge things in Bitcoin, whether you agree or not, whether you understand how they work or not. They don't give a shit about you, or your government. Again, whether you agree or not. Such is life.

Wow your ponzi has increased in value from when it sold ~1 million shares to the point where it sold 150 million? What about all those idiots along the way that didn't get in at ipo and bought/are still buying absurdly overpriced shares in this ponzi?

If I can find 1 idiot to buy 1 share of my company (which will have 100 trillion shares) for 0.01btc does that mean my company is worth 1 trillion bitcoins? Of course not.

You must be huffing paint if you think mpex generated 1 billion usd worth of wealth for its users. That statement is an flat out lie and you know it. You moved around 14k worth of wealth last year and your ponzi (with 85% shares unsold to public) is evaluated at 1 billion usd.

You are right about mpex being the biggest thing in this space. But only in the space of bitcoin ponzi schemes.

Your blog posts are so embarrassing it is honestly a waste of time reading. You pretend that bitcoin cannot be regulated by the SEC because it is virtual money. That statement might hold grounds with the armchair investors/mpex cult members but anyone not involved in this ponzi will tell you that that statement is bullshit and would never hold up in court.

Everything you say is carefully constructed to deceive those with a lack of understanding of real world finance. But I guess it takes 30btc for some to learn a life lesson (on how to lose 30btc or more).

Since predicting the most obvious shit elevates one to the status of "god of bitcoin finance" and I predicted that all of mpex revenue is from new recruits does that make me a god in your eyes?

So why haven't you?

I can but I would only profit 0.01 not 1 trillion btc like mpoe pr perceives. And I prefer to earn my btc not steal it from naive investors.

[User705]

I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits?

Here's some interesting actual data: the original shares were sold through a blind placement. They went for 9085 satoshi on the first round and 2433 satoshi on the 2nd round. Currently the shares trade around 90,000 satoshi. That's a 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate S.MPOE has generated just about a billion dollars' worth of new wealth for its holders.

Which favorably compares with the sum total of all Bitcoin related ventures, plus all alt-chains, plus everything else. MPEx is, quite simply, the biggest thing that ever happened in this space.

On the other score: MPEx has been humiliating the SEC in public since 2012. Moreover, the DFS itself came to the conclusion that MP's 2012 article on the topic of Bitcoin regulation is both sound and controls the matter. That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this."

Sooner or later you're going to just learn to deal with it: there are huge things in Bitcoin, whether you agree or not, whether you understand how they work or not. They don't give a shit about you, or your government. Again, whether you agree or not. Such is life.

Wow your ponzi has increased in value from when it sold ~1 million shares to the point where it sold 150 million? What about all those idiots along the way that didn't get in at ipo and bought/are still buying absurdly overpriced shares in this ponzi?

If I can find 1 idiot to buy 1 share of my company (which will have 100 trillion shares) for 0.01btc does that mean my company is worth 1 trillion bitcoins? Of course not.

You must be huffing paint if you think mpex generated 1 billion usd worth of wealth for its users. That statement is an flat out lie and you know it. You moved around 14k worth of wealth last year and your ponzi (with 85% shares unsold to public) is evaluated at 1 billion usd.

You are right about mpex being the biggest thing in this space. But only in the space of bitcoin ponzi schemes.

Your blog posts are so embarrassing it is honestly a waste of time reading. You pretend that bitcoin cannot be regulated by the SEC because it is virtual money. That statement might hold grounds with the armchair investors/mpex cult members but anyone not involved in this ponzi will tell you that that statement is bullshit and would never hold up in court.

Everything you say is carefully constructed to deceive those with a lack of understanding of real world finance. But I guess it takes 30btc for some to learn a life lesson (on how to lose 30btc or more).

Since predicting the most obvious shit elevates one to the status of "god of bitcoin finance" and I predicted that all of mpex revenue is from new recruits does that make me a god in your eyes?

So why haven't you?

I can but I would only profit 0.01 not 1 trillion btc like mpoe pr perceives. And I prefer to earn my btc not steal it from naive investors.

At least you are honest in the estimation of your skill level.   

[jimmothy]

I am pretty butthurt about all the pyramid schemes I didn't get involved in early you're right. How early did you get in? How much btc have you made off your recruits?

Here's some interesting actual data: the original shares were sold through a blind placement. They went for 9085 satoshi on the first round and 2433 satoshi on the 2nd round. Currently the shares trade around 90,000 satoshi. That's a 1000% to 4000% increase over less than two years, and some off the cuff calculation would indicate S.MPOE has generated just about a billion dollars' worth of new wealth for its holders.

Which favorably compares with the sum total of all Bitcoin related ventures, plus all alt-chains, plus everything else. MPEx is, quite simply, the biggest thing that ever happened in this space.

On the other score: MPEx has been humiliating the SEC in public since 2012. Moreover, the DFS itself came to the conclusion that MP's 2012 article on the topic of Bitcoin regulation is both sound and controls the matter. That's right: it took the USG two years of hewing and hawing to finally work up the balls to come out and plainly state "yeah, that MP guy actually knew what's what way before we figured it out, you should probably just listen to him in the future because we're 12 and what is this."

Sooner or later you're going to just learn to deal with it: there are huge things in Bitcoin, whether you agree or not, whether you understand how they work or not. They don't give a shit about you, or your government. Again, whether you agree or not. Such is life.

Wow your ponzi has increased in value from when it sold ~1 million shares to the point where it sold 150 million? What about all those idiots along the way that didn't get in at ipo and bought/are still buying absurdly overpriced shares in this ponzi?

If I can find 1 idiot to buy 1 share of my company (which will have 100 trillion shares) for 0.01btc does that mean my company is worth 1 trillion bitcoins? Of course not.

You must be huffing paint if you think mpex generated 1 billion usd worth of wealth for its users. That statement is an flat out lie and you know it. You moved around 14k worth of wealth last year and your ponzi (with 85% shares unsold to public) is evaluated at 1 billion usd.

You are right about mpex being the biggest thing in this space. But only in the space of bitcoin ponzi schemes.

Your blog posts are so embarrassing it is honestly a waste of time reading. You pretend that bitcoin cannot be regulated by the SEC because it is virtual money. That statement might hold grounds with the armchair investors/mpex cult members but anyone not involved in this ponzi will tell you that that statement is bullshit and would never hold up in court.

Everything you say is carefully constructed to deceive those with a lack of understanding of real world finance. But I guess it takes 30btc for some to learn a life lesson (on how to lose 30btc or more).

Since predicting the most obvious shit elevates one to the status of "god of bitcoin finance" and I predicted that all of mpex revenue is from new recruits does that make me a god in your eyes?

So why haven't you?

I can but I would only profit 0.01 not 1 trillion btc like mpoe pr perceives. And I prefer to earn my btc not steal it from naive investors.

At least you are honest in the estimation of your skill level.   

I forgot scamming retards takes skill. A skill ron l popescu has mastered.

[Duffer1]

I forgot scamming retards takes skill. A skill ron l popescu has mastered.

sigh, still nothing new
just more hate for popescu
get trolled by haiku

[MPOE-PR]

Where've all the thetans gone
Long time passing
Where've all the thetans gone
Long time ago....