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Author Topic: Coirone - Ponzi scheme  (Read 160 times)
tvplus006
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October 02, 2019, 07:51:20 PM
Merited by bones261 (4)
 #1

What happened: Ponzi scheme

75% PROFITS PER DAILY  

Flag type 1 (support/oppose): https://bitcointalk.org/index.php?action=trust;flag=797

Profile Link: https://bitcointalk.org/index.php?topic=5189423.0
Archived: https://web.archive.org/web/20191002194716/https://bitcointalk.org/index.php?topic=5189423.0
Website: https://coirone.org/
Archived: https://web.archive.org/web/20191002194810/https://coirone.org/



Quote
Domain Name: COIRONE.ORG
Registry Domain ID: D402200000011203224-LROR
Registrar WHOIS Server: whois.pananames.com
Registrar URL: http://www.pananames.com
Updated Date: 2019-09-05
Creation Date: 2019-08-18
Registry Expiry Date: 2020-08-18





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October 02, 2019, 09:13:32 PM
 #2

Although you are absolutely right in describing this as a Ponzi scheme, I notice that it is listed in the Russian >  Xaйпы > section, which translates (by Google) as HYIP.
As it is generally accepted (by me, anyway) that "HYIP" is a synonym for Ponzi scheme, despite a recent change in the law such schemes are not illegal in Russia (indeed, thanks to Sergey Panteleevich RIP, they can be seen as an historical part of Russia's rich financial culture).
What I'm trying to say, without in any way supporting these schemes, is that they don't pretend to be anything else.
In order to fulfill Western criteria for a true Ponzi (and for me to support a forum flag against them), I believe there must be some deceptive element involved, certainly more than just an absurd ROI and no claimed source of income other than new investment.
But that's just my opinion and I know it's not shared universally.


Extraordinary Claims require Extraordinary Evidence
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October 02, 2019, 09:48:20 PM
 #3

It's has a real characteristic of a ponzi scheme.
What kind of business promises "75% PROFITS PER DAILY"? That is total deception.

Also just to ensure that my understanding of ponzi scheme is right. I checked the description from Oxford Dictionary

"a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."

Source: Oxford dictionary

Coirone totally fits the description and i will support the flag

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..PLAY NOW..
tvplus006
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October 04, 2019, 11:05:26 AM
Last edit: October 04, 2019, 11:36:13 AM by tvplus006
 #4

Although you are absolutely right in describing this as a Ponzi scheme, I notice that it is listed in the Russian >  Xaйпы > section, which translates (by Google) as HYIP.
As it is generally accepted (by me, anyway) that "HYIP" is a synonym for Ponzi scheme, despite a recent change in the law such schemes are not illegal in Russia (indeed, thanks to Sergey Panteleevich RIP, they can be seen as an historical part of Russia's rich financial culture).
What I'm trying to say, without in any way supporting these schemes, is that they don't pretend to be anything else.
In order to fulfill Western criteria for a true Ponzi (and for me to support a forum flag against them), I believe there must be some deceptive element involved, certainly more than just an absurd ROI and no claimed source of income other than new investment.
But that's just my opinion and I know it's not shared universally.
I see that you do not change your view of such Ponzi, which are placed in the "HYIP" section: https://bitcointalk.org/index.php?topic=5101104.msg49381657#msg49381657
I also did not change my mind:
Anyway, it  stays scam, and it doesn’t matter in which topic it was posted.
And I will try to convince you of this.
Yes, you rightly wrote that the activities of Mavrodi at that time were not prohibited. But in 2017, a law came into force in Russia prohibiting the collection of funds in financial pyramids. This law prohibits the distribution of advertising in the media and the Internet about the attractiveness of such financial schemes. For violators, this law provides a fine of up to $ 15,000.
The deception is that investors are offered unrealistic returns.





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