superresistant (OP)
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February 05, 2014, 12:40:29 PM Last edit: February 10, 2014, 01:30:38 PM by superresistant |
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EDIT : Please don't go on this website if you are going to complain that you lost your money. This is your responsibility. I am not advertising for it. It's not my site.EDIT 2 : InsDice.US seems to have replaced ponzi.io now that it is closed. Check the thread for details here : https://bitcointalk.org/index.php?topic=447060.0
I am locking this thread as it is outdated.Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Sonny
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February 05, 2014, 12:44:24 PM |
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Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose. It is not the first bitcoin ponzi, but IMO it is the most straight-forward ponzi scheme. Not only the owner describe the program directly as ponzi, he even use ponzi.io lol.
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superresistant (OP)
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February 05, 2014, 12:46:24 PM Last edit: February 05, 2014, 01:07:23 PM by superresistant |
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It is not the first bitcoin ponzi, but IMO it is the most straight-forward ponzi scheme.
I agree. There was not long ago some kind of "gem ponzi games" where you choose the % return depending of the gem but this one is the simple and clear. Not only the owner describe the program directly as ponzi, he even use ponzi.io lol.
Yeah lol but this is great because you know what it is because clicking the link. It is a "honest ponzi".
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Akytan
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February 05, 2014, 12:50:57 PM |
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Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose. That web is legit and work?
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Akytan
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February 05, 2014, 12:59:18 PM |
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Thanks you. There say don't use web wallets. But I can use my wallet from blockchain.info, right?
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superresistant (OP)
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February 05, 2014, 01:03:40 PM |
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Thanks you. There say don't use web wallets. But I can use my wallet from blockchain.info, right?
Yes blockchain.info can be used because it is not like the other online wallet. The site say blockchain.info is supported. I use it myself.
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Sonny
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February 05, 2014, 01:09:19 PM |
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Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose. That web is legit and work? Be careful, OP used "legit" instead of legit. After all, the word legit does not work well with the word ponzi lol.
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superresistant (OP)
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February 05, 2014, 01:17:10 PM |
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Be careful, OP used "legit" instead of legit. After all, the word legit does not work well with the word ponzi lol. Yes that's the paradox here : A ponzi is a pyramidal system used to scam people but in order to scam people you must not tell them how the ponzi work and of course you won't tell it is a ponzi. Here you know exactly how it work and the transactions are transparent. So it is a "legit" ponzi. You can definitely make money but it will come one day where someone will send a big amount of BTC that he'll never get back because no one will send as much BTC as him.
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Akytan
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February 05, 2014, 01:31:56 PM |
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Trying it! XD
Funny "real" system.
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Akytan
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February 05, 2014, 01:41:35 PM |
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Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose. That web is legit and work? Be careful, OP used "legit" instead of legit. After all, the word legit does not work well with the word ponzi lol. That is true... But go to say it at the goverments xD
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yatsey87
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February 05, 2014, 01:58:00 PM |
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I wouldn't take the risk on any Ponzi, regardless of how honest or transparent is. People have said this before about these schemes then end up losing. Regardless, a lot of people will lose out sooner or later.
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xyzzyx
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I don't really come from outer space.
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February 07, 2014, 03:45:50 AM |
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Hi, This is an example of "legit" ponzi scheme : http://ponzi.io/You send money, and you get 120% back when someone send money after you. It is a pyramidal system where you always get more money as long as people continue to send money. I found it interesting because it makes you understand how a simple ponzi work. The big difference with usual ponzi is that everything is transparent because you can check the blockchain yourself. Of course don't invest money that you can't afford to loose. This is hilarious! I'm tempted to send some bitcoin just to say I did it.
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"An awful lot of code is being written ... in languages that aren't very good by people who don't know what they're doing." -- Barbara Liskov
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cadcoin
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February 07, 2014, 03:54:14 AM |
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It will die eventually once it cannot find new investors to sustain its growth. You call this a ponzi I call this a bubble.
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JoelKatz
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Democracy is vulnerable to a 51% attack.
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February 07, 2014, 03:58:34 AM |
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Is 100% of the money that is deposited paid out to depositors? The payout mechanics are not disclosed, which makes it seem pretty dishonest to me. It's also difficult to figure out the total amount paid out to depositors, the oldest unpaid deposit, and so on.
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I am an employee of Ripple. Follow me on Twitter @JoelKatz 1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
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edok
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February 07, 2014, 04:13:31 AM |
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Please don't invest or promote this kind of thing. Any gain you make will always come at someone else's expense.
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DavidHi5
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February 07, 2014, 04:37:02 AM |
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How is this supposed to work, without leaving someone else out of pocket?
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DrHerbSmoker
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February 07, 2014, 04:56:49 AM |
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it will always leave someone out of pocket. 1 person the bottom one. cause every person above them will make 120% on there deposit. get it? its never ending
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User705
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First 100% Liquid Stablecoin Backed by Gold
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February 07, 2014, 05:08:56 AM |
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Is 100% of the money that is deposited paid out to depositors? The payout mechanics are not disclosed, which makes it seem pretty dishonest to me. It's also difficult to figure out the total amount paid out to depositors, the oldest unpaid deposit, and so on.
How is that? Look at the addresses. The payouts go to the same addresses that deposited before. Interesting concept. The only concern is that the operator isn't taking a cut which means the incentive for him to run is there. If he were to be taking a small cut the incentive to simply run after a large deposit would diminish since that would mean the end of continuously collecting the %.
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TheCatLife
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February 07, 2014, 05:42:05 AM |
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Thank you for providing information about this website. I am interested in trying it out.
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