Bitcoinchef.info is a ponzi scam

[Kluge]

Saw some newer people sending money here. Figured it was time to kill it before it gets any larger.

Bitcoinchef.info is a manifestation of a very common ponzi scam. The goal is to take money in from unwitting individuals at a rate which exceeds what they pay out. They DO initially pay out so that they can build a reputation of reliability and collect larger sums. Eventually, they run off with everything currently deposited, so this is a very high-risk, zero-sum game with odds heavily in ponzi op's favor. You're very likely to lose everything if you keep playing.

Just the facts:
1) the Bitcoin millionaire's (who is also "CEO") business email is bitcoinchef@yahoo.com.
2) The "bitcoin millionaire" does not prove he has an address with old bitcoins in it to support his claims.
3) "William M. Tracy" didn't appear on Twitter until "bitcoinchef" was created, and he's done nothing but spam his ponzi link.
4) This has been done literally hundreds of times, and there has never been an exceptionally generous guy paying out 4% hourly interest on loans who doesn't eventually disappear.


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[Sonny]

BitcoinChef.info is ALWAYS PAYING

All ponzi scheme keep their promise and deliver the money to users on time in the beginning.
But, they will eventually collapse when there is not enough new joins.

[djarot]

I truly hope Mr. Ponzi doesn't invade bitcointalk with his fanboy ...

[Kluge]

You are not stealing from old-timer bitcoin millionaires. You're stealing from new people who are just starting off in Bitcoin. It's an important distinction. You could be stealing confidence in cryptocurrency, entrepreneurial spirit, and perhaps what someone may otherwise be able to use for financial security. There is nothing "Robin Hood" about this, and no way to justify it.

New people have this thought that "Bitcoin is weird, so this seems more plausible." I don't disagree that Bitcoin-related news and business tends to be a little more skewed toward the weird, but there has never been someone publicly offering 4% hourly rates at no limits who does not eventually run off with the money. This is not the exception.

You would not hand over money to someone wandering around in a mall who says he's a millionaire and will repay you 4% hourly or 12% daily (which makes absolutely no sense, anyway). This is the same situation, except there's even less required of the scammer since he does not even need to get off his ass.

[Kluge]

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