MakeBTC.org Pyramid Scheme

[boumalo]

makeBTC is apparently buying adds on bitcointalk : he can expect 1200 000 impressions which should bring thousands of new players and hundreds of new deposits, don't you think?

Quote from: MakeBTC on January 31, 2014, 11:24:41 PM
I've sent you the bitcoins equal to my bid of 1.25

OK, you can bid up to 2.5 total without paying more. Pay to the same address as before if you want to increase your bids beyond that.

Current status:
Slots BTC/Slot Person
1 1.30 Goat
1 1.30 victorhing
1 1.25 MakeBTC
2 1.25 ppanther
3 1.20 CEX

Bitcointalk will advertise a pyramid scheme?

Apparently yes, I guess they accept it because it advertises itself as it is. Ponzi scheme are illegal because they don't work though but I guess that if you change the rules along the way you can keep it going for a while, we will see
1 200 000 ads impressions in 9days on bitcointalk will definitely bring a lot of players and probably 10BTC in deposits, makeBTC could use some of the money deposited or revinvested by players to buy add campaigns

I hope nobody will deposit on MakeBTC because they are losing money. Read my posts and you will never deposit again on that site. It is fake. No payments. Promised a lot nut they dont do what they promise.

A lot of new depositors may be bad for the depositors but may allow the old depositors to cash out a bit

What I don't like about the website is the fact that makeBTC is only suppose to get 1% of all deposits so it means they would have only earned 1BTC so far less all the servers costs and they are going to advertise the website for 1.25BTC...I doubt that 1% is all they plan on getting from the website

A lot of people seem to have cashed out fine so far, I cashed out 0.02 from last bank, it was my first cash out and I will be able to tell if it went through as soon as my bitcoin client synchronises (which could take a while from where I am), can you tell us exactly how much you cashed out and how much you actually received in your bitcoin wallet? They could be "stealing" from the big early players because that is where the money is but maybe they punished you from not telling about the bug? They should be more open about it then.

[1714155527]

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[beetje2007]

makeBTC is apparently buying adds on bitcointalk : he can expect 1200 000 impressions which should bring thousands of new players and hundreds of new deposits, don't you think?

Quote from: MakeBTC on January 31, 2014, 11:24:41 PM
I've sent you the bitcoins equal to my bid of 1.25

OK, you can bid up to 2.5 total without paying more. Pay to the same address as before if you want to increase your bids beyond that.

Current status:
Slots BTC/Slot Person
1 1.30 Goat
1 1.30 victorhing
1 1.25 MakeBTC
2 1.25 ppanther
3 1.20 CEX

Bitcointalk will advertise a pyramid scheme?

Apparently yes, I guess they accept it because it advertises itself as it is. Ponzi scheme are illegal because they don't work though but I guess that if you change the rules along the way you can keep it going for a while, we will see
1 200 000 ads impressions in 9days on bitcointalk will definitely bring a lot of players and probably 10BTC in deposits, makeBTC could use some of the money deposited or revinvested by players to buy add campaigns

I hope nobody will deposit on MakeBTC because they are losing money. Read my posts and you will never deposit again on that site. It is fake. No payments. Promised a lot nut they dont do what they promise.

A lot of new depositors may be bad for the depositors but may allow the old depositors to cash out a bit

What I don't like about the website is the fact that makeBTC is only suppose to get 1% of all deposits so it means they would have only earned 1BTC so far less all the servers costs and they are going to advertise the website for 1.25BTC...I doubt that 1% is all they plan on getting from the website

A lot of people seem to have cashed out fine so far, I cashed out 0.02 from last bank, it was my first cash out and I will be able to tell if it went through as soon as my bitcoin client synchronises (which could take a while from where I am), can you tell us exactly how much you cashed out and how much you actually received in your bitcoin wallet? They could be "stealing" from the big early players because that is where the money is but maybe they punished you from not telling about the bug? They should be more open about it then.

It wasn't me about the bug. They paid normal and good but the last bank en the last deposits I didnt get paid. Look at my stats at Makebtc, beetje2007. You can see I sold over 10BTC levels but received only 1 BTC. According to the site it should be 50% so thats makes 5BTC of the 10BTC sold. And I think you are right with the stealing of the big early players. I think the site will be down in a few days. At least I hope so, so other honest people will not be 'caught' by mister Makebtc....

[boumalo]

The leaders statistics may not be accurate, on my cabinet page it is written I deposited 0.1BTC when I actually deposited 0.2
Maybe they will send it to you after, last bank wasn't long ago
Did you really only received 1.1BTC? I will keep everyone updated on whether I received my 0.02BTC withdraw, is there anyone else that wasn't paid?

[opnoskatt]

.

[yatsey87]

It wasn't me about the bug. They paid normal and good but the last bank en the last deposits I didnt get paid. Look at my stats at Makebtc, beetje2007. You can see I sold over 10BTC levels but received only 1 BTC. According to the site it should be 50% so thats makes 5BTC of the 10BTC sold. And I think you are right with the stealing of the big early players. I think the site will be down in a few days. At least I hope so, so other honest people will not be 'caught' by mister Makebtc....

This is what usually happens. They just need to keep stringing people along for as long as they can. In the meantime they can do what they like with the funds they've recieved.

[beetje2007]

The leaders statistics may not be accurate, on my cabinet page it is written I deposited 0.1BTC when I actually deposited 0.2
Maybe they will send it to you after, last bank wasn't long ago
Did you really only received 1.1BTC? I will keep everyone updated on whether I received my 0.02BTC withdraw, is there anyone else that wasn't paid?

Yeah, the ripped me off for ~1.05 BTC.  I've sold out now and made a small profit overall, but I'm definitely done with this site.

Me too Opnoskatt, he ripped me off for about 4 BTC. And if he was really a smart guy he should stay longer honest so he could make more dirty money. I'm also definitely done with this site. Again, I hope nobody will deposit on his site, you lose!!! I also sent him several emails but no reaction. Says enough I think

[boumalo]

The leaders statistics may not be accurate, on my cabinet page it is written I deposited 0.1BTC when I actually deposited 0.2
Maybe they will send it to you after, last bank wasn't long ago
Did you really only received 1.1BTC? I will keep everyone updated on whether I received my 0.02BTC withdraw, is there anyone else that wasn't paid?

Yeah, the ripped me off for ~1.05 BTC.  I've sold out now and made a small profit overall, but I'm definitely done with this site.

Me too Opnoskatt, he ripped me off for about 4 BTC. And if he was really a smart guy he should stay longer honest so he could make more dirty money. I'm also definitely done with this site. Again, I hope nobody will deposit on his site, you lose!!! I also sent him several emails but no reaction. Says enough I think

Did you check your withdrawal address in cabinet? It seems stupid but it disappeared once on my cabinet

Try to private message makeBTC on Bitcointalk, he responded to me fine when I did

[beetje2007]

The leaders statistics may not be accurate, on my cabinet page it is written I deposited 0.1BTC when I actually deposited 0.2
Maybe they will send it to you after, last bank wasn't long ago
Did you really only received 1.1BTC? I will keep everyone updated on whether I received my 0.02BTC withdraw, is there anyone else that wasn't paid?

Yeah, the ripped me off for ~1.05 BTC.  I've sold out now and made a small profit overall, but I'm definitely done with this site.

Me too Opnoskatt, he ripped me off for about 4 BTC. And if he was really a smart guy he should stay longer honest so he could make more dirty money. I'm also definitely done with this site. Again, I hope nobody will deposit on his site, you lose!!! I also sent him several emails but no reaction. Says enough I think

Did you check your withdrawal address in cabinet? It seems stupid but it disappeared once on my cabinet

Try to private message makeBTC on Bitcointalk, he responded to me fine when I did

Will try that. Thakns for the advice. He answered once overhere if I unstand that only 50% will pay. As you can read I know very good it pays 50%. I looked in my cabinet and my bitcoinadress is very fine.

[jmalec]

Speaking solely for myself, a small, early investor, all of my actions have been recorded properly and I have received my withdrawals as advertised. I have recouped my initial investment and am playing with the house's money, again public record.

I read with concern with beetje2207 and opnoskatt's comments about receipt of shares sold. That said, I wait with interest to read MakeBTC's response, if any. There is usually more to the story and my analysis needs the depth to go along with the length and width. Experience tells me plenty is missing from this specific discussion.

Personally, I find it of concern that beetje2207 and opnoskatt cashiered the bulk of their positions all at immediately as a new process was instituted. In fairness, more so beetje2207 as he had the larger position, thus more to lose. While they are entitled to their analysis and investing style as am I, collectively redistributing over than 13 of a 15 BTC bank in a matched pair of moves is a dicey move especially with new changes in the production software. Using the same percentages would close most hedge funds much less a small project like this. In perspective, 2 of 175 investors made the biggest move. That is a red flag to me.

My personal style would have been 1 or 2 BTC the first bank increasing over the next several banks, spreading the hit out a bit while more importantly ensuring proper operation of the new process prior to entrusting a larger sum to it. But that's my caution speaking.

I also watched with amusement where beetje2207 subsequently reinvested and received a bonus from himself, a move I'm sure was not contemplated by the developers. An easy enough fix  when thought about but easily not anticipated in advance. C'est la vie. At the time, my analysis was he wanted to stop out his liquidation and remain at a lower level. Comments in this thread change that analysis with additional information.

As for me, I plan to monitor the project for potential future profits as well as this board for entertainment along the way.

[beetje2007]

Speaking solely for myself, a small, early investor, all of my actions have been recorded properly and I have received my withdrawals as advertised. I have recouped my initial investment and am playing with the house's money, again public record.

I read with concern with beetje2207 and opnoskatt's comments about receipt of shares sold. That said, I wait with interest to read MakeBTC's response, if any. There is usually more to the story and my analysis needs the depth to go along with the length and width. Experience tells me plenty is missing from this specific discussion.

Personally, I find it of concern that beetje2207 and opnoskatt cashiered the bulk of their positions all at immediately as a new process was instituted. In fairness, more so beetje2207 as he had the larger position, thus more to lose. While they are entitled to their analysis and investing style as am I, collectively redistributing over than 13 of a 15 BTC bank in a matched pair of moves is a dicey move especially with new changes in the production software. Using the same percentages would close most hedge funds much less a small project like this. In perspective, 2 of 175 investors made the biggest move. That is a red flag to me.

My personal style would have been 1 or 2 BTC the first bank increasing over the next several banks, spreading the hit out a bit while more importantly ensuring proper operation of the new process prior to entrusting a larger sum to it. But that's my caution speaking.

I also watched with amusement where beetje2207 subsequently reinvested and received a bonus from himself, a move I'm sure was not contemplated by the developers. An easy enough fix  when thought about but easily not anticipated in advance. C'est la vie. At the time, my analysis was he wanted to stop out his liquidation and remain at a lower level. Comments in this thread change that analysis with additional information.

As for me, I plan to monitor the project for potential future profits as well as this board for entertainment along the way.

Lol, nowere in his rules it is forbidden to deposit when you try to collect bonus over the levels. And if it was forbidden he should told me I couldnt do that. I know what you mean. I was very curious about the 15th bank. My curiosity has been correct. I fully understand what you mean and I wanted to tested the sell of 10 BTC level. When I saw it went well I was prepaired to deposit more. But when the payout stopped my doubt was confinced. Personally I think it was a smart move to deposit when  I was selling levels ;-)
Correct that you saw I had a 'long' time of reinvestments.

I really hope you get your profits. And yes, also true, I was planned to sell some levels, see the paymants and stop selling because I also had trust in MakeBTC.org. Fact that Opnoskatt also didnt get paid makes it for me very clear. If I was the only one I could have been wrong. But the stats dont lie. As you can see I 'sold' 10,042 BTC. Thats what my levels made so small at the moment and thats ok but not the non payments.

I was there with the best meanings........

[opnoskatt]

.

[yatsey87]

Speaking solely for myself, a small, early investor, all of my actions have been recorded properly and I have received my withdrawals as advertised. I have recouped my initial investment and am playing with the house's money, again public record.

I read with concern with beetje2207 and opnoskatt's comments about receipt of shares sold. That said, I wait with interest to read MakeBTC's response, if any. There is usually more to the story and my analysis needs the depth to go along with the length and width. Experience tells me plenty is missing from this specific discussion.

Personally, I find it of concern that beetje2207 and opnoskatt cashiered the bulk of their positions all at immediately as a new process was instituted. In fairness, more so beetje2207 as he had the larger position, thus more to lose. While they are entitled to their analysis and investing style as am I, collectively redistributing over than 13 of a 15 BTC bank in a matched pair of moves is a dicey move especially with new changes in the production software. Using the same percentages would close most hedge funds much less a small project like this. In perspective, 2 of 175 investors made the biggest move. That is a red flag to me.

My personal style would have been 1 or 2 BTC the first bank increasing over the next several banks, spreading the hit out a bit while more importantly ensuring proper operation of the new process prior to entrusting a larger sum to it. But that's my caution speaking.

I also watched with amusement where beetje2207 subsequently reinvested and received a bonus from himself, a move I'm sure was not contemplated by the developers. An easy enough fix  when thought about but easily not anticipated in advance. C'est la vie. At the time, my analysis was he wanted to stop out his liquidation and remain at a lower level. Comments in this thread change that analysis with additional information.

As for me, I plan to monitor the project for potential future profits as well as this board for entertainment along the way.

beetje27, it's probably best to ignore jmalec; it's very likely an alt-account for makebtc trying to drum up business from an "outside source" by discrediting legitimate users.

Yeah, bit fishy when they sign up just to post that lol

[beetje2007]

Speaking solely for myself, a small, early investor, all of my actions have been recorded properly and I have received my withdrawals as advertised. I have recouped my initial investment and am playing with the house's money, again public record.

I read with concern with beetje2207 and opnoskatt's comments about receipt of shares sold. That said, I wait with interest to read MakeBTC's response, if any. There is usually more to the story and my analysis needs the depth to go along with the length and width. Experience tells me plenty is missing from this specific discussion.

Personally, I find it of concern that beetje2207 and opnoskatt cashiered the bulk of their positions all at immediately as a new process was instituted. In fairness, more so beetje2207 as he had the larger position, thus more to lose. While they are entitled to their analysis and investing style as am I, collectively redistributing over than 13 of a 15 BTC bank in a matched pair of moves is a dicey move especially with new changes in the production software. Using the same percentages would close most hedge funds much less a small project like this. In perspective, 2 of 175 investors made the biggest move. That is a red flag to me.

My personal style would have been 1 or 2 BTC the first bank increasing over the next several banks, spreading the hit out a bit while more importantly ensuring proper operation of the new process prior to entrusting a larger sum to it. But that's my caution speaking.

I also watched with amusement where beetje2207 subsequently reinvested and received a bonus from himself, a move I'm sure was not contemplated by the developers. An easy enough fix  when thought about but easily not anticipated in advance. C'est la vie. At the time, my analysis was he wanted to stop out his liquidation and remain at a lower level. Comments in this thread change that analysis with additional information.

As for me, I plan to monitor the project for potential future profits as well as this board for entertainment along the way.

beetje27, it's probably best to ignore jmalec; it's very likely an alt-account for makebtc trying to drum up business from an "outside source" by discrediting legitimate users.

Correct, and also correct it is a bit fishy. We know the truth and we know what we received (not receieved) in our wallets. I hope everybody will read this before depositing. Mr Makebtc.org wants to get more money from the peoples wallet instead of be honest and pay the witdraw.

[opnoskatt]

.

[beetje2007]

I almost forgot this was my post...  I've updated the title appropriately.

Very good update. We know the truth. He has to be stopped getting money from more 'investors'......

[jmalec]

I assure you, I am not Mr. MakeBTC. If you check the records, you will see am an investor along with you, not even hiding behind an alternate name as I could. Different motivations and different strategy, as do we all.

I have been following this thread for about 2 weeks, but truth be told, today was the first time I had something to say, so I'll readily admit to signing up to say my peace. No sinister motive there, challenge all you want. I know what I am saying and why I am saying it. Disbelieve as you wish, I cannot control that, only be true to myself. I trust you are doing the same. I am new to the Bitcoin world, maybe 45 days in. So I am still learning as well as assimilating this world to that I already know. I come in very much the cynic with a cynical nature to begin with.

I see you follow much of my logic. Agreed, nowhere in the rules did it state not to pull out all at once. Yet I stand by my analysis that doing so with so large an amount was a significant risk. Reading your reply, it sounds like you agree it was as well. With the benefit of your reply I've extended my analysis to include the idea you were testing and probing to see what would happen. From your relative position of strength, I can see that, even the large amounts. At the same time, I might have done so with smaller amounts first. That's my risk management speaking. You can see my tests in the logs along side yours. I have not tried a sale yet as I wish to hit a specific threshold before I do. Based on your experience, that caution appears all the more appropriate.

I have an IT background and see all of this is automated. That combination alone causes me to react with an abundance caution. I've seen enough code slip streamed in my career to beware of the law of unintended consequences. And it appears that has tripped up MakeBTC, opnoskatt and you, in no special order, in Banks 15 and 16.

I hope that you get the 4BTC that is outstanding. That is very significant and I am very much interested in how MakeBTC responds to that as well as makes it right. That point is important to the future of the project as well as my faith in it. Of course, I have nothing invested in it I can't afford to lose. As I stated I am playing with the house's money at this point, so all I can lose are paper profits. I believe both opnoskatt and you are in similar positions, albeit with more paper profits on the line.

Collectively, we'll know more if and when the 16th bank is hit. I want to see us all whole. You have much more to gain than I.

[jmalec]

An additional thought on the subject, more a rephrase: I refer to investments as the website does in my comments. In retrospect, the theme of the forum is gambling, so perhaps wager is the more appropriate word. In those terms, the risk we've all been managing at bank 15 is the new payout method. In that respect, I'll submit the sell, being the newest code change, was the risk to manage, not the level up which is more proven. MY point is proven out in that is where the issues occurred. And it remains to be seen if and how MakeBTC will correct that.

So in gambling terms, it is now to the pit boss to correct things and make the right. We very much agree on that point.

[boumalo]

I think that jmalec may very well me a player like us, but who knows

opnoskatt, I think that maybe makeBTC thought your cashing out were suspicious and froze them before he was sure everything was correct.

I didn't check the logs carefully but I am guessing the missing cash outs are a few days old at most so it is still possible that makeBTC will make you whole, let's hope you changing the title of this thread didn't annoy him too much 

We are going to see a lot of signing up & deposits starting Friday when makeBTC will start being advertised here so it should at least be entertaining&fun to watch, I deposited 0.2 and cashed out 0.02 so far so I have a long way to go 

[beetje2007]

I think that jmalec may very well me a player like us, but who knows

opnoskatt, I think that maybe makeBTC thought your cashing out were suspicious and froze them before he was sure everything was correct.

I didn't check the logs carefully but I am guessing the missing cash outs are a few days old at most so it is still possible that makeBTC will make you whole, let's hope you changing the title of this thread didn't annoy him too much 

We are going to see a lot of signing up & deposits starting Friday when makeBTC will start being advertised here so it should at least be entertaining&fun to watch, I deposited 0.2 and cashed out 0.02 so far so I have a long way to go 

Guys, I hope Makebtc.org is good for you and I like seeing you that positive. Makebtc.org was always good and fast paying. I dont see any payment coming, he should have done that a few days ago. I also hope that Opnoskatt, I and maybe other get paid like is promised. When he does that you guys will be the first to know but I dont believe it. He never respond on my mails.
And suspicious or not, I think that we all gambled, we knew what we are doing but saying to get paid and not get paid is not gambling. I have another word for that.......

[beetje2007]

I assure you, I am not Mr. MakeBTC. If you check the records, you will see am an investor along with you, not even hiding behind an alternate name as I could. Different motivations and different strategy, as do we all.

I have been following this thread for about 2 weeks, but truth be told, today was the first time I had something to say, so I'll readily admit to signing up to say my peace. No sinister motive there, challenge all you want. I know what I am saying and why I am saying it. Disbelieve as you wish, I cannot control that, only be true to myself. I trust you are doing the same. I am new to the Bitcoin world, maybe 45 days in. So I am still learning as well as assimilating this world to that I already know. I come in very much the cynic with a cynical nature to begin with.

I see you follow much of my logic. Agreed, nowhere in the rules did it state not to pull out all at once. Yet I stand by my analysis that doing so with so large an amount was a significant risk. Reading your reply, it sounds like you agree it was as well. With the benefit of your reply I've extended my analysis to include the idea you were testing and probing to see what would happen. From your relative position of strength, I can see that, even the large amounts. At the same time, I might have done so with smaller amounts first. That's my risk management speaking. You can see my tests in the logs along side yours. I have not tried a sale yet as I wish to hit a specific threshold before I do. Based on your experience, that caution appears all the more appropriate.

I have an IT background and see all of this is automated. That combination alone causes me to react with an abundance caution. I've seen enough code slip streamed in my career to beware of the law of unintended consequences. And it appears that has tripped up MakeBTC, opnoskatt and you, in no special order, in Banks 15 and 16.

I hope that you get the 4BTC that is outstanding. That is very significant and I am very much interested in how MakeBTC responds to that as well as makes it right. That point is important to the future of the project as well as my faith in it. Of course, I have nothing invested in it I can't afford to lose. As I stated I am playing with the house's money at this point, so all I can lose are paper profits. I believe both opnoskatt and you are in similar positions, albeit with more paper profits on the line.

Collectively, we'll know more if and when the 16th bank is hit. I want to see us all whole. You have much more to gain than I.

I think Makebtc has made a mistake with giving a bonus by depositing. the large number isnt a thing in my eyes. If you sell 0,5BTC or 10BTC. Principal is the same. And again, if I  get paid you guys will be the first to know