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Author Topic: MakeBTC.org Pyramid Scheme  (Read 18388 times)
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January 20, 2014, 06:09:44 PM
 #21

ok i just received another payment Smiley
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January 20, 2014, 06:13:02 PM
 #22

That's my first message to the forum, and it can be a quite insecure information for many people. But I would like to share the information I recently obtain about MakeBTC.org

About a week ago I registered to this site, with a very low confidence. So that I just load 0.05 BTC to the system. 2-3 days ago I add 0.053 BTC again since I saw people started to withrewing money, and logs are open to public. And today i made a withdrew, to try if it's work or not. And few minutes ago, I confirm that I take 0.032 BTC payment from the site to the Blockchain.


So you've put in 0.103BTC and gotten out 0.032BTC?

this is a scam it says i have recieved payout but i have not Sad

Most of these pyramid schemes are outright scams. They sucker in greedy fools stupid enough to send them money.

The withdraw function seems to be working fine.  I didn't get in the system early (joined on the 17th), but I've already gotten back .32BTC and raised my level a bit.  It's not the flashiest thing in the world, but it's fun to keep up with it.

How much did you put in?

I put in a total of 1.5 BTC and have withdrawn 0.52 BTC so far (3 days).  This is a pure pyramid scheme, but it advertises it self as that.  You choose a percentage of your "award" for each level to withdraw and the rest is reinvested to raise your level of investment.  It's up 13 levels so far, if it goes up another 4 levels I'll be "even" and everything from that point on is profit.  The only real question is how long the site owner will keep everything running.  It's only been open ~ 3 weeks, so if it stays up for 6 months it will generate a lot of profit for a lot of people.  Of course some people will get screwed... but that's why this is posted in the gambling forum!

What if it's impossible to get to the top or the next 4 levels and you just keep getting fed along and never recoup your money? Usually these aren’t actually schemes to make money but scams to lose it. Pretty much everybody loses out except the creator.

I don't think you understand how this kind of system works, it's always possible to increase levels as long as people are still joining the program.  It's the same with any pyramid system.  The people at the bottom will always make the most money (depending on new investment amounts), but you have a chance to make plenty of money as long as additional people join after you.

You wont make anything if additional people don't join. Do the payments come directly from the operator or the users?

Of course... that's the entire idea of a pyramid system; it's only successful as long as new people join and invest.  The idea of the pyramid is to join and then get people you know to join; they get people they know and so on and so on, you make income based on downstream investments.  This one is more unique because you make money off of anyone investing, not just your downstream affiliates.    The payments come whenever a "level" is reached, which is a specific amount of BTC invested.  Pyramids are risky and you shouldn't invest if you don't have money to lose, but the people who do invest in the early stages often end up making substantial profits.  The key is when the "early stages" end, it's all based on how long the system survives.  

If it were to stop getting new people today I would be down ~1BTC, that's a risk I'm willing to take.  If the system goes up 20 more levels (it made 12 levels in 3 weeks) then I will be up ~2.75BTC at a minimum on top of what I've already withdrawn.

Address list -> seems to be the cool thing to do, you can give me cryptocash for nothing!
FZ: FA3HLhx8iyGPniYoHHyDxMREno6KtwnoiY
XPM: AdKrkQzdJmQPrx2Kujybycrxt5yvN4n1W8
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January 20, 2014, 06:30:54 PM
 #23

That's my first message to the forum, and it can be a quite insecure information for many people. But I would like to share the information I recently obtain about MakeBTC.org

About a week ago I registered to this site, with a very low confidence. So that I just load 0.05 BTC to the system. 2-3 days ago I add 0.053 BTC again since I saw people started to withrewing money, and logs are open to public. And today i made a withdrew, to try if it's work or not. And few minutes ago, I confirm that I take 0.032 BTC payment from the site to the Blockchain.


So you've put in 0.103BTC and gotten out 0.032BTC?

this is a scam it says i have recieved payout but i have not Sad

Most of these pyramid schemes are outright scams. They sucker in greedy fools stupid enough to send them money.

The withdraw function seems to be working fine.  I didn't get in the system early (joined on the 17th), but I've already gotten back .32BTC and raised my level a bit.  It's not the flashiest thing in the world, but it's fun to keep up with it.

How much did you put in?

I put in a total of 1.5 BTC and have withdrawn 0.52 BTC so far (3 days).  This is a pure pyramid scheme, but it advertises it self as that.  You choose a percentage of your "award" for each level to withdraw and the rest is reinvested to raise your level of investment.  It's up 13 levels so far, if it goes up another 4 levels I'll be "even" and everything from that point on is profit.  The only real question is how long the site owner will keep everything running.  It's only been open ~ 3 weeks, so if it stays up for 6 months it will generate a lot of profit for a lot of people.  Of course some people will get screwed... but that's why this is posted in the gambling forum!

What if it's impossible to get to the top or the next 4 levels and you just keep getting fed along and never recoup your money? Usually these aren’t actually schemes to make money but scams to lose it. Pretty much everybody loses out except the creator.

I don't think you understand how this kind of system works, it's always possible to increase levels as long as people are still joining the program.  It's the same with any pyramid system.  The people at the bottom will always make the most money (depending on new investment amounts), but you have a chance to make plenty of money as long as additional people join after you.

You wont make anything if additional people don't join. Do the payments come directly from the operator or the users?

Of course... that's the entire idea of a pyramid system; it's only successful as long as new people join and invest.  The idea of the pyramid is to join and then get people you know to join; they get people they know and so on and so on, you make income based on downstream investments.  This one is more unique because you make money off of anyone investing, not just your downstream affiliates.    The payments come whenever a "level" is reached, which is a specific amount of BTC invested.  Pyramids are risky and you shouldn't invest if you don't have money to lose, but the people who do invest in the early stages often end up making substantial profits.  The key is when the "early stages" end, it's all based on how long the system survives.  

If it were to stop getting new people today I would be down ~1BTC, that's a risk I'm willing to take.  If the system goes up 20 more levels (it made 12 levels in 3 weeks) then I will be up ~2.75BTC at a minimum on top of what I've already withdrawn.

So do the payments come directly from the site operator or the other users, because as with these schemes they just tend to be scams and as soon as the operator has enough money he just leaves you guys hanging with nothing.

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opnoskatt
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January 20, 2014, 06:51:10 PM
 #24

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

Address list -> seems to be the cool thing to do, you can give me cryptocash for nothing!
FZ: FA3HLhx8iyGPniYoHHyDxMREno6KtwnoiY
XPM: AdKrkQzdJmQPrx2Kujybycrxt5yvN4n1W8
hilariousandco
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January 20, 2014, 06:56:05 PM
 #25

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

How do you know that you will definitely get paid out if you reach that level 4 and the money just wont stop there? As long as there's suckers that keep paying in it doesn't really matter and he doesn't even need to disappear. Wouldn't it be a better gamble just gambling with your money other ways? The vast majority of the times these are just straight-up scams and everybody loses out except the operator.

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opnoskatt
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January 20, 2014, 08:19:56 PM
 #26

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

How do you know that you will definitely get paid out if you reach that level 4 and the money just wont stop there? As long as there's suckers that keep paying in it doesn't really matter and he doesn't even need to disappear. Wouldn't it be a better gamble just gambling with your money other ways? The vast majority of the times these are just straight-up scams and everybody loses out except the operator.

How do you know an Exchange (Cryptsy, BTC-E, Coinex) won't just shut its doors and take all of the money... you don't.  I've been on the site for 3 days and have been paid every day, that's a better track record than most of the similar operations out there right now.  They also have completely transparent logging so you can see every registration, deposit, and payout.

Address list -> seems to be the cool thing to do, you can give me cryptocash for nothing!
FZ: FA3HLhx8iyGPniYoHHyDxMREno6KtwnoiY
XPM: AdKrkQzdJmQPrx2Kujybycrxt5yvN4n1W8
hilariousandco
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January 20, 2014, 08:29:27 PM
 #27

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

How do you know that you will definitely get paid out if you reach that level 4 and the money just wont stop there? As long as there's suckers that keep paying in it doesn't really matter and he doesn't even need to disappear. Wouldn't it be a better gamble just gambling with your money other ways? The vast majority of the times these are just straight-up scams and everybody loses out except the operator.

How do you know an Exchange (Cryptsy, BTC-E, Coinex) won't just shut its doors and take all of the money... you don't.  I've been on the site for 3 days and have been paid every day, that's a better track record than most of the similar operations out there right now.  They also have completely transparent logging so you can see every registration, deposit, and payout.

Reputable exchanges are a little bit different from a pyramid scheme/scam. And a good scam will rope you along offering payouts at less than what you've put in until they get the big money.

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opnoskatt
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January 20, 2014, 08:54:03 PM
 #28

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

How do you know that you will definitely get paid out if you reach that level 4 and the money just wont stop there? As long as there's suckers that keep paying in it doesn't really matter and he doesn't even need to disappear. Wouldn't it be a better gamble just gambling with your money other ways? The vast majority of the times these are just straight-up scams and everybody loses out except the operator.

How do you know an Exchange (Cryptsy, BTC-E, Coinex) won't just shut its doors and take all of the money... you don't.  I've been on the site for 3 days and have been paid every day, that's a better track record than most of the similar operations out there right now.  They also have completely transparent logging so you can see every registration, deposit, and payout.

Reputable exchanges are a little bit different from a pyramid scheme/scam. And a good scam will rope you along offering payouts at less than what you've put in until they get the big money.

Have you actually been the site?  You're saying a lot of things I don't think you would say if you did any quick research.  There's nothing sneaky about it, there's even a calculator that shows you exactly how much you'll make for each level.  The payouts are exactly as advertised, and if you visit the site, you can look at the live logs and see who's made money so far and who is reinvesting.  I don't think it's as much of a conspiracy as you think; the operator has been honest with the users and is making a good bit of profit just by running the site (maintenance fee at every level reached).

Address list -> seems to be the cool thing to do, you can give me cryptocash for nothing!
FZ: FA3HLhx8iyGPniYoHHyDxMREno6KtwnoiY
XPM: AdKrkQzdJmQPrx2Kujybycrxt5yvN4n1W8
hilariousandco
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January 20, 2014, 09:17:45 PM
 #29

The payments come from the operator, and yes, there is certainly a chance that he can just pack up the site and hold onto the wallet for himself.  But, if he's getting steady new users there's no benefit to doing so.  His greed fuels the profit of others.

How do you know that you will definitely get paid out if you reach that level 4 and the money just wont stop there? As long as there's suckers that keep paying in it doesn't really matter and he doesn't even need to disappear. Wouldn't it be a better gamble just gambling with your money other ways? The vast majority of the times these are just straight-up scams and everybody loses out except the operator.

How do you know an Exchange (Cryptsy, BTC-E, Coinex) won't just shut its doors and take all of the money... you don't.  I've been on the site for 3 days and have been paid every day, that's a better track record than most of the similar operations out there right now.  They also have completely transparent logging so you can see every registration, deposit, and payout.

Reputable exchanges are a little bit different from a pyramid scheme/scam. And a good scam will rope you along offering payouts at less than what you've put in until they get the big money.

Have you actually been the site?  You're saying a lot of things I don't think you would say if you did any quick research.  There's nothing sneaky about it, there's even a calculator that shows you exactly how much you'll make for each level.  The payouts are exactly as advertised, and if you visit the site, you can look at the live logs and see who's made money so far and who is reinvesting.  I don't think it's as much of a conspiracy as you think; the operator has been honest with the users and is making a good bit of profit just by running the site (maintenance fee at every level reached).

The best scams will always appear or try to appear legitimate or transparent. Maybe it's not a scam, but most pyramids are and I'd be willing to bet there will be a lot of people who end up losing out at some point. And I'm not sceptical that he's making a good bit of profit.

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Allow
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January 20, 2014, 11:26:59 PM
 #30

Ok, i'm in with small dep! Let's try! Smiley
opnoskatt
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January 21, 2014, 12:39:54 AM
 #31

Ok, i'm in with small dep! Let's try! Smiley

Good luck "Allow"; hoping it hits level 30 in the coming months

Address list -> seems to be the cool thing to do, you can give me cryptocash for nothing!
FZ: FA3HLhx8iyGPniYoHHyDxMREno6KtwnoiY
XPM: AdKrkQzdJmQPrx2Kujybycrxt5yvN4n1W8
terracyde
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January 21, 2014, 05:35:37 AM
 #32

I think it's possible to reach level 30+. Also if chinese bitcoin holders discover the site, even further levels we can see in a few months.
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January 21, 2014, 04:02:35 PM
Last edit: January 21, 2014, 04:20:06 PM by pixelized
 #33

site is down now Sad
EDIT: its back I see

How many banks do you think it will get to in the end? 30 seems alittle short...
terracyde
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January 21, 2014, 04:19:09 PM
 #34

seems working now..

maybe a maintenance?  Roll Eyes
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January 21, 2014, 04:28:50 PM
 #35

site is down now Sad
EDIT: its back I see

How many banks do you think it will get to in the end? 30 seems alittle short...

Depending on the future chinese interest on the site. My end of year guess is lvl 75 - 90  Smiley
hilariousandco
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January 21, 2014, 04:30:29 PM
 #36

I think it's possible to reach level 30+. Also if chinese bitcoin holders discover the site, even further levels we can see in a few months.

Why would the Chinese be interested in pyramid schemes? They tend to invest their money wisely.

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terracyde
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January 21, 2014, 04:47:40 PM
 #37

Why? Cos it's kinda easy and predictable way to spend your money, compared to other gambling styles such as dice rolls, or casinos. I don't think that the people spend their whole investments on this kind of sites. People trying with a little money, waiting a bit and see what happens.. If many people can spend their money on rolling sites, they can put their money on MakeBTC too Smiley
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January 21, 2014, 04:53:07 PM
 #38

to get to 30 banks would be done in a little under a month at the rate it is currently banking.
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January 22, 2014, 01:45:17 PM
 #39

Interesting thing happened earlier today - the site crashed, I think I saw why. A new user, I think named roeder, joined and then wierd things happened. He deposited 3+ BTC and reached the next bank, it paid out. Then he deposited -5 BTC (yes, I know, impossible), then 6 BTC, then 1 BTC, then -2 BTC or something. I managed to look at his profile, it said his level was -1 BTC. Of course, all of that is impossible. But he did trigger the bank. Then the site went down.

My guess is that they checked the bank manually and realised something was wrong. For him to enter those numbers, my guess is he managed to hack the site somehow. It was very very wierd to see that happen. I thought, how could that bank happen so quickly? And I looked just before the bank, it said that roeder deposited 3.25 BTC or something. No user deposits such an amount!

Anyway, they must have reversed the bank and kicked him out, everything seems back to normal now, if a bit slow. I wonder if they will tell everyone what happened.

I like the site, anyway. Yes, it is a pyramid scheme, but bear in mind that after each bank most of the "new" investors are actually the old investors who are reinvesting their income - like me, probably because they want to maintain their level and future income in comparison with the other investors.

So it seems to work pretty well. I admit to being somewhat jealous of the first user Ki$$ who invested 0.3 BTC on day one, reinvested every time, and now is earning over 1 BTC for EACH bank! Wow.

Also, opsnokatt, you have a lot of courage to invest 1.5 BTC, but it looks like it is paying off for you. I salute you.
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January 22, 2014, 01:56:30 PM
 #40

I think it's possible to reach level 30+. Also if chinese bitcoin holders discover the site, even further levels we can see in a few months.

Why would the Chinese be interested in pyramid schemes? They tend to invest their money wisely.

My friend, you are clearly not that familiar with China... just look at the amount of fraudulent schemes they fell for, for example to get a green card for the US - google China EB-5 visa fraud...
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