Ponzi Scheme 101

[CryptoMobster]

Brilliant post, in my opinion, it should be a sticky...

a lot more of these will appear' whether we like it or not. A boost in confidence in the market and it will go again, FOMO will happen and so will the greed.

I could easily add more to that list if you have or want to make a current list of Ponzi style websites?

[BitcoinHEX]

If you're going to avoid Ponzi Schemes, you mind as well avoid these other schemes as well. https://en.wikipedia.org/wiki/Confidence_trick#See_also

[xha-256]

If you're going to avoid Ponzi Schemes, you mind as well avoid these other schemes as well. https://en.wikipedia.org/wiki/Confidence_trick#See_also

Ye, there are so many types of these where people should be aware of. And regarding to that, maybe someone can do make posts about that, since this thread is only for ponzi type of schemes.

[xha-256]

Bumping for visibility! Sincer i just comeback 

[Ojima-ojo]

Avoiding any investment that promises high returns and also take the control of your both capital and asset from you, and don't be greedy, because most scammers target the greedy Fork's since their know they desperate to make huge profits from a small investment or within a short period of time.


The cryptocurrency space is safer now, that people already have idea of what to look out for and what to avoid, infact not only in this Ponzi scheme, some cryptocurrency projects are also Ponzi in disguise because a token developer can promise huge value for their tokens when they are listed but at the end, their could even not get listed on an exchange after investors have invested in those tokens, this another cryptocurrency fraud that newbies should avoid getting caught up with.

[Crypt0Gore]

It is not entirely true with your 'lack of transparency' point, although this is a good way for scammers and bad actors to escape getting caught.

For me it depends on the projects use case, there are many old projects with no visible team members that are doing so well than those with visible team members, for example BTC is a good example, how about Monero aka XMR?

For projects that are based on decentralisation and privacy, if they show themselves to the world they don't know what they are doing, it is left for investors to understand what they are doing before risking their hard earned money.

[Kamustapo]

We need a topic itself for "Famous Ponzi Scheme in Crypto-world" which contains a list of all past Ponzi Crypto Project and projects tat's still going on. I think it will be a big hel for newbies like myself, and more people could help it by adding some project that they found which indicated using Ponzi scheme into the list.

[xha-256]

The cryptocurrency space is safer now, that people already have idea of what to look out for and what to avoid, infact not only in this Ponzi scheme, some cryptocurrency projects are also Ponzi in disguise because a token developer can promise huge value for their tokens when they are listed but at the end, their could even not get listed on an exchange after investors have invested in those tokens, this another cryptocurrency fraud that newbies should avoid getting caught up with.

I don't think so i just see this news happened just few months ago this year, Killed by a scam: A father took his life after losing his savings to international criminal gangs. He’s not the only one, its a crypto scams. Although its true that we don't see more ponzi these days since people knows how to distinguish these sites but talking crypto space is safer now is a false argument. Phishing sites are still rampants and even "expert" people get victim on this.

[albon]

We need a topic itself for "Famous Ponzi Scheme in Crypto-world" which contains a list of all past Ponzi Crypto Project and projects tat's still going on. I think it will be a big hel for newbies like myself, and more people could help it by adding some project that they found which indicated using Ponzi scheme into the list.

It would be difficult to list all the old and ongoing Ponzi schemes in a single topic, as they have been created over the years and continue to emerge even now. Even these schemes appear for a while and then disappear, and others appear. So, if you know the red flags and indicators and do your research, this will help you discover them and avoid them easily without anyone telling you about them; there are thousands of these schemes and phishing sites, so you must always be vigilant and always not be deceived by their enticing promises, do not invest based on someone’s instructions and temptations to you. If you cannot distinguish these Ponzi platforms, you can ask your question here in the forum. You will find plenty of members willing to help.

[Taricoins]

The cryptocurrency space is safer now, that people already have idea of what to look out for and what to avoid, infact not only in this Ponzi scheme, some cryptocurrency projects are also Ponzi in disguise because a token developer can promise huge value for their tokens when they are listed but at the end, their could even not get listed on an exchange after investors have invested in those tokens, this another cryptocurrency fraud that newbies should avoid getting caught up with.

I don't think so i just see this news happened just few months ago this year, Killed by a scam: A father took his life after losing his savings to international criminal gangs. He’s not the only one, its a crypto scams. Although its true that we don't see more ponzi these days since people knows how to distinguish these sites but talking crypto space is safer now is a false argument. Phishing sites are still rampants and even "expert" people get victim on this.

Well you would be surprised to how Ponzi scheme are still active in some area because humans no matter the level of awareness they would still be some sets of persons that don't really get to understand and will always allow their greed get the best of them and again just as people are getting awareness for these ponzi scheme so are scammers also working like crazy to make sure they update their tricks too so the better we stay updated and active in a community just like this where such matters are being discussed and guidelines are given you would be surprised to see yourself fall victim someday.

[Kamustapo]

We need a topic itself for "Famous Ponzi Scheme in Crypto-world" which contains a list of all past Ponzi Crypto Project and projects tat's still going on. I think it will be a big hel for newbies like myself, and more people could help it by adding some project that they found which indicated using Ponzi scheme into the list.

It would be difficult to list all the old and ongoing Ponzi schemes in a single topic, as they have been created over the years and continue to emerge even now. Even these schemes appear for a while and then disappear, and others appear. So, if you know the red flags and indicators and do your research, this will help you discover them and avoid them easily without anyone telling you about them; there are thousands of these schemes and phishing sites, so you must always be vigilant and always not be deceived by their enticing promises, do not invest based on someone’s instructions and temptations to you. If you cannot distinguish these Ponzi platforms, you can ask your question here in the forum. You will find plenty of members willing to help.

Is it possible if someone or even mw to create a topic which list only some well known Ponzi schemes and schemes which is still going on?

I mean, everyone is welcomed to give comments, criticize, and add some more to the list, so the OP would be able to fix or change the list. It will be a long-term topic that will stay in this forum. I'm still a newbie here, and I hope a more-experienced user might take this idea and make one.

[Rikafip]

Is it possible if someone or even mw to create a topic which list only some well known Ponzi schemes and schemes which is still going on?

It surely is as some of the scam busters created the list of busted scams (myself included, but I stopepd updating it years ago), but these kind of topics get buried fast unless you constantly add new scams so in the end they kinda become waste of time.

[TPS357]

The mother of all crypto scams is bitconnect.  I can't believe that piece of garbage was once a top 10 coin.  A lot of suckers fell for the hype and got blinded by greed.

I remember this years ago that one of my friend ask all of us to join bitconnect including me, after several week he just stopped talking about it eventhough I keep asking for it. That's how I know cryptocurrency for the first time, by losing some amount of money first. That's a bit ashamed that I got scammed as my first experience in crypto, but that's also such a blessing that I knew about crypto because of that.

[Deenaxyz]

We need a topic itself for "Famous Ponzi Scheme in Crypto-world" which contains a list of all past Ponzi Crypto Project and projects tat's still going on. I think it will be a big hel for newbies like myself, and more people could help it by adding some project that they found which indicated using Ponzi scheme into the list.

It would be difficult to list all the old and ongoing Ponzi schemes in a single topic, as they have been created over the years and continue to emerge even now. Even these schemes appear for a while and then disappear, and others appear. So, if you know the red flags and indicators and do your research, this will help you discover them and avoid them easily without anyone telling you about them; there are thousands of these schemes and phishing sites, so you must always be vigilant and always not be deceived by their enticing promises, do not invest based on someone’s instructions and temptations to you. If you cannot distinguish these Ponzi platforms, you can ask your question here in the forum. You will find plenty of members willing to help.

Is it possible if someone or even mw to create a topic which list only some well known Ponzi schemes and schemes which is still going on?

I mean, everyone is welcomed to give comments, criticize, and add some more to the list, so the OP would be able to fix or change the list. It will be a long-term topic that will stay in this forum. I'm still a newbie here, and I hope a more-experienced user might take this idea and make one.

Yes, I'm looking forward to it. After reading about cases of various scams, I learned that keeping our privacy and security in crypto is the most important thing. It will be helpful if we have that kind of list here to do a crosscheck about projects that might indicated as a scam in this forum

[PX-Z]

The mother of all crypto scams is bitconnect.  I can't believe that piece of garbage was once a top 10 coin.  A lot of suckers fell for the hype and got blinded by greed.

I remember this years ago that one of my friend ask all of us to join bitconnect including me, after several week he just stopped talking about it eventhough I keep asking for it. That's how I know cryptocurrency for the first time, by losing some amount of money first. That's a bit ashamed that I got scammed as my first experience in crypto, but that's also such a blessing that I knew about crypto because of that.

Ah, yeah, bitconnect, that was the most famous ponzi coin introduced in this space that got so many supporters and yet it takes years before it got taken down. The most hilarious and unforgettable of this coin is because of its memes of the promoters singing with this coin lmao.

[Kamustapo]

We need a topic itself for "Famous Ponzi Scheme in Crypto-world" which contains a list of all past Ponzi Crypto Project and projects tat's still going on. I think it will be a big hel for newbies like myself, and more people could help it by adding some project that they found which indicated using Ponzi scheme into the list.

It would be difficult to list all the old and ongoing Ponzi schemes in a single topic, as they have been created over the years and continue to emerge even now. Even these schemes appear for a while and then disappear, and others appear. So, if you know the red flags and indicators and do your research, this will help you discover them and avoid them easily without anyone telling you about them; there are thousands of these schemes and phishing sites, so you must always be vigilant and always not be deceived by their enticing promises, do not invest based on someone’s instructions and temptations to you. If you cannot distinguish these Ponzi platforms, you can ask your question here in the forum. You will find plenty of members willing to help.

Is it possible if someone or even mw to create a topic which list only some well known Ponzi schemes and schemes which is still going on?

I mean, everyone is welcomed to give comments, criticize, and add some more to the list, so the OP would be able to fix or change the list. It will be a long-term topic that will stay in this forum. I'm still a newbie here, and I hope a more-experienced user might take this idea and make one.

Yes, I'm looking forward to it. After reading about cases of various scams, I learned that keeping our privacy and security in crypto is the most important thing. It will be helpful if we have that kind of list here to do a crosscheck about projects that might indicated as a scam in this forum

I'm not sure buddy, I'm still a newbie just like you, but I'm doing some reading now regarding of  recent various crypto scams, probably if I feel like I have gathered enough  about it, I will try to make my first topic, but for now let's just give that idea with someone who has better knowledge than me

[nakamura12]

Bumping for visibility! Sincer i just comeback 

Welcome back. It is a good to bump this thread to make it display in the first page and to make newbies aware of ponzi scheme or pyramid scheme. It would be good if there's a list of ponzi schemes either ongoing or not. As stated in previous post, it is indeed not easy to compile a list of old and ongoing ponzi scheme to share it tk everyone so that they can stay away from it and know how it works so people can avoid it.

[TPS357]

The mother of all crypto scams is bitconnect.  I can't believe that piece of garbage was once a top 10 coin.  A lot of suckers fell for the hype and got blinded by greed.

I remember this years ago that one of my friend ask all of us to join bitconnect including me, after several week he just stopped talking about it eventhough I keep asking for it. That's how I know cryptocurrency for the first time, by losing some amount of money first. That's a bit ashamed that I got scammed as my first experience in crypto, but that's also such a blessing that I knew about crypto because of that.

Ah, yeah, bitconnect, that was the most famous ponzi coin introduced in this space that got so many supporters and yet it takes years before it got taken down. The most hilarious and unforgettable of this coin is because of its memes of the promoters singing with this coin lmao.

Here, in my country there is one notorious so-called crypto Ponzi scheme, Pi network, what's hilarious about this is how people try to advertise it like some kind of multi-level marketing which attracting many boomers into their community who barely know about Bitcoin, let alone Crypto. Their community is growing in several areas in my country, to the point that they directly exchange their cars/motorcycle to 1 token of Pi network which they posted on Facebook, but I haven't hear about them anymore nowadays.

[betswift]

Bumping for visibility! Sincer i just comeback 

Welcome back. It is a good to bump this thread to make it display in the first page and to make newbies aware of ponzi scheme or pyramid scheme. It would be good if there's a list of ponzi schemes either ongoing or not. As stated in previous post, it is indeed not easy to compile a list of old and ongoing ponzi scheme to share it tk everyone so that they can stay away from it and know how it works so people can avoid it.

It would be a good addition indeed, and bumping it up - that's great too for everybody to see!

[Onyeeze]

Beginners & Help is a good place for this kind of content. It is quite important to educate newcomers of the existence of these attempts to get their money. A great thing you did is that you listed all your sources, this kind of articles are rare here on the forum. If I were you, I would mention briefly the most known collapsed ponzi schemes of the crypto world (after all we are here at BTT), for example Bitconnect, Davorcoin.

some persons is aware of ponzi scheme but the thing thing is that they have not witnessed or experienced ponzi scheme, so therefore I believe that ponzi scheme has to do with scam and your funds can be made away with the platform if you're not mistaken, theirs something I know very well concerning new people and ponzi, some of the people you are seeing here that registered in bitcointalk that doesn't mean that they don't have experienced of ponzi scheme before, majority of people you see that registered newly most of are street boys, so they may have experienced of ponzi scheme before you, so not all newbie is novice