The cancer that is Ponzi

[hilariousandco]

I suggest you first define a ponzi and then define what the majority or sites are offering - do true ponzis label themselves as Ponzis? No. Do true ponzis warn investors they may not get their money back? No Do true ponzis have "rounds" which occur when funds dry up? No.

There is a clear difference.

Defined by Merriam Webster.

Ponzi
- an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks

Your site and many others fit this bill to the tee. Case closed.

Not quite.

1) These are not investment opportunities - at no point are they sold as an investment, at no point are returns guaranteed

Are you saying this about other Ponzis or yours?

My argument is of course based around my own site, as I cannot, nor would I want to speak for any other operators.

That's what had me confused because you yourself use the terms 'investment' and 'guaranteed returns':

PonziCoin - The simplest BitCoin Ponzi
Update: As of round #7, the last deposit in every round is guaranteed to be paid out at 200%!!!!


120% Return on Investment

[roslinpl]

I am trying new strategy

On each new thread with Ponzi xxx% I post a question: "What are chances to lose? You say xxx% profit, but I do not see possibilities to lose? So are you making a charity? Or there is a possibility that I will lost my btc @ your game?"


And what I saw - most of ponzi owners ARE RESPONDING and telling that yes - you can lose when no one else will deposit money after you

And I am happy because at least they are not lying

So When you see a new ponzi thread just post there something simmilar "What are chances to lose? You say xxx% profit, but I do not see possibilities to lose? So are you making a charity? Or there is a possibility that I will lost my btc @ your game?"

[Vortuarackne]

I suggest you first define a ponzi and then define what the majority or sites are offering - do true ponzis label themselves as Ponzis? No. Do true ponzis warn investors they may not get their money back? No Do true ponzis have "rounds" which occur when funds dry up? No.

There is a clear difference.

Defined by Merriam Webster.

Ponzi
- an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks

Your site and many others fit this bill to the tee. Case closed.

Not quite.

1) These are not investment opportunities - at no point are they sold as an investment, at no point are returns guaranteed

Are you saying this about other Ponzis or yours?

My argument is of course based around my own site, as I cannot, nor would I want to speak for any other operators.

That's what had me confused because you yourself use the terms 'investment' and 'guaranteed returns':

PonziCoin - The simplest BitCoin Ponzi
Update: As of round #7, the last deposit in every round is guaranteed to be paid out at 200%!!!!


120% Return on Investment

And that is true, although slightly outdated now.

Fees are taken throughout the round, those fees are used to repay the last deposit at 200% (so somewhat deviating from your stereo-typical ponzi) any remaining fees left over became my taking for that round.

Therefore the last deposit is guaranteed, none in-between are.

Return on investment is a turn of phrase and perhaps not a good one in this case however, as has been pointed out "the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value." whether it is guaranteed or not, the deposits players made could be described as an investment.

[NotLambchop]

... the deposits players made could be described as an investment.

True enough.  Flushing money down the toilet could also be described as an investment.  Props 4 ur mad language skillz.

[MoneyShot2]

Just move ponzis and pyramids to a separate section and that's it. And put some restrictions for being able to post new threads in the gambling section, please.

[RodeoX]

You could just ignore them? That's what I do for all Ponzi / gambling offers. The thing I find pointless about gambling is that it comes with a guarantee of probable losses. Why not just burn your money to light a joint? At least you will have a lit joint when it's over. 

[apsvinet]

Let the people make their own bad decisions, ignore these offers if you're smart enough to see what they're
really about. Don't ban something just cause a small % of the forum user base gets scammed.
#prochoice

[boumalo]

My guess would be that a third of ponzis were sc.ams, is it a lot or not I let you decide

Ponzicoin has been paying and is now using escrow (my idea ) it feels pretty safe to gamble them, it advertises itself as a ponzi and I would estimate that more than 90% of the money bet is bet by players knowing they are gambling and they can lose

Ponzis are bad in the sense that it is gambling and ponzis on bitcointalk have been used by sc.ammers to get a quick buck; it could be solve by blocking newbies to create new threads on the ponzi section once created

[apsvinet]

My guess would be that a third of ponzis were sc.ams, is it a lot or not I let you decide

Ponzicoin has been paying and is now using escrow (my idea ) it feels pretty safe to gamble them, it advertises itself as a ponzi and I would estimate that more than 90% of the money bet is bet by players knowing they are gambling and they can lose

Ponzis are bad in the sense that it is gambling and ponzis on bitcointalk have been used by sc.ammers to get a quick buck; it could be solve by blocking newbies to create new threads on the ponzi section once created

It's up to everyone to make their own risk-reward calculation when gambling.

[sporket]

^The same thing that distinguishes Three-Card Monte from other card games -- the near certainty of being a scam.

[roslinpl]

What's up?

Did you counted how many new ponzis we had today?
I mean, is number decreasing because IMO it seems so.

[BadBear]

99% of them are spammers as well, seems to be quite a large overlap, most have been banned for that.

[Kyraishi]

Sorry if it would be offtopic,
But this :.
 Update: As of round #7, the last deposit in every round is guaranteed to be paid out at 200%!!!!
actually this would not make a non-idiot person to deposit.
But if you know,  ponzi are not a games where one deposit pay ones..

[DobZombie]

Ponzis are only allowed here because theymos makes a fortunes off these guys.

Greed has paved the way for more human suffering. It's totally disgusting and gives bitcoin a bad name.

Apparently putting the fine print "Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here." allows theymos to sleep at night.  He's more than happy to neglect his responsibility so he can make more BTCBTC.

I'm bitterly disappointed in you theymos. Shame on you.

Shame shame shame.

I'm Derryn Hinch.

[counter]

heck yes I love the idea of a ponzi of sammy section haha.  I can just see it now lol, please make it so.  So grateful would the users of this forum be in my humble opinion.

[roslinpl]

Seems like already 70% less of ponzis, don't you feel it?

Much much more air to breathe

[apsvinet]

Seems like already 70% less of ponzis, don't you feel it?

Much much more air to breathe

Yah I noticed that too, I think it's wonderful to be honest. Not that I think ponzis
shouldn't be allowed, but it's annoying when 99% of all threads in gambling are such.

[boumalo]

Seems like already 70% less of ponzis, don't you feel it?

Much much more air to breathe

Yah I noticed that too, I think it's wonderful to be honest. Not that I think ponzis
shouldn't be allowed, but it's annoying when 99% of all threads in gambling are such.

A ponzi section would eliminate all the ponzis threads from the Gambling section while letting the ponzi fans alone

[apsvinet]

Seems like already 70% less of ponzis, don't you feel it?

Much much more air to breathe

Yah I noticed that too, I think it's wonderful to be honest. Not that I think ponzis
shouldn't be allowed, but it's annoying when 99% of all threads in gambling are such.

A ponzi section would eliminate all the ponzis threads from the Gambling section while letting the ponzi fans alone

They're discussing that in some other thread in the meta, I thought it was actually going through.
Maybe they decided not to though.

[Bit_Happy]

These ponzi posts and threads are entirely overwhelming the gambling board....

So what? It's a gambling board.
Silly Ponzis are not a cancer, they are more like an annoying, stupid commercial.