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Author Topic: YOBIT SCAM: x10 Banner Promoters Will Be Tagged For Promoting a Ponzi Scheme  (Read 2409 times)
Lauda
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January 28, 2020, 10:07:40 PM
Merited by nutildah (1)
 #121

but (presumably) he was entrusted with those funds, and he proceeded to act honorably. that seems fundamentally good, right? why would it matter what externalities led to the situation?

if not stealing from others despite the opportunity =/= trustworthy, what would you consider to be the basis of trustworthiness? what metrics do you use?
Right, and based off of this a lot of scammers were former kings of good, i.e. fundamentally good? Roll Eyes Fundamental good almost never ever changes, and thus you need to question your own metrics first.
just to clarify, i didn't say/mean that one trustworthy act makes someone fundamentally good. the act itself is fundamentally good. this was to meet your "proof of good" condition:

That changes things. Whilst I do not fully agree that not-doing-bad-when-you-could is fundamentally good in itself, I can see how you could see that it is and accept your view.

Doing good can be proof of good, not doing bad is not proof of good.
i just feel that acting honorably in all business dealings and squaring all obligations ought to mean something. can we agree on that? if not, what are the proper metrics, in your opinion?

it's like, you're a bank and someone with a perfect history of repaying every debt asks for a loan. is their perfect history a basis for their financial trustworthiness? or should they be looked at exactly the same as any bum on the street?
Right, but you also need to factor in a differentiation between passive and active actions. Not-stealing-when-you-could = passive action, i.e. don't do anything and the default outcome is good. Furthermore the following two things are also very often forgotten:
1) The amounts - Would you trust someone who had 10 successive proper $10 trades with $1000 over somebody who had one trade of $2k? I personally find all these singular instances of trading, or multiple instances trading where the amounts are negligible (and this depends on the person, but I'd consider anything sub - what others would consider a very high amount - not worthy of positive trust). I also act accordingly to this belief as you've seen in a  strong contrast between my number of given positives vs. number of given negatives (and yes, this is completely unrelated to the number of actual deals that I've done).
2) The proportionality effect of the given positive trust rating (amount risked vs. credibility given) - A very important point that many seem to miss and will continue to disregard. How much credibility does your rating for a $10 trade give in the eyes of the super-majority, not in your eyes (as a ranking DT member the eyes of many are supposed to be more important than your own eyes, i.e. bias)? It gives much more than that, and couple that with successive, what I call pajeet-level, trades of this kind and you create unnecessary risk for a lot of members for very little gain on the (subsequent!) receivers of that positive trust.

We are going way too deep into this and sidetracking from the topic, but I believe it was fruitful (based on your elaboration, which completely changes what I was arguing against). Furthermore, I'm quite appalled by anyone who wants to use "there was this one instance where I held a lot of money and didn't steal it, so how dare you accuse me of ever possibly scamming or being untrustworthy after". I believe this is a display of fundamentally compromised or flawed judgement. Many other members could do so (including me), but there's a very good reason why it isn't being done!

I think this rests this part of the discussion, at least from my end. Hope it helped.

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iluvbitcoins
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January 29, 2020, 03:25:29 AM
 #122

Quote
We are going way too deep into this and sidetracking from the topic, but I believe it was fruitful (based on your elaboration, which completely changes what I was arguing against). Furthermore, I'm quite appalled by anyone who wants to use "there was this one instance where I held a lot of money and didn't steal it, so how dare you accuse me of ever possibly scamming or being untrustworthy after". I believe this is a display of fundamentally compromised or flawed judgement. Many other members could do so (including me), but there's a very good reason why it isn't being done!

One instance?

A simple look at my trust rating will find a continous trading history with people risking a lot of money with me.
Some of the larger ones would be carsen who entrusted me with 4BTC and Torcoin with 1BTC.
There are so many  reversable PayPal deals over 500$ a piece which stack up at least a BTC if you want to scam under the 180 day chargeback period.

Even that instance isn't "there is one instance where I held a lot of money" isn't correct. Since it wasn't one time. It is continual management.
I managed the depository for 4 years continually. The value of it changed with XMR value from 70k-1m. I think it was never worth less than 50k.
Also consider some of these I listed overlapped in the same periods, and add smaller deals done in the same time.

Any of the listed things had no other escrow, lockbox, collateral or anyone else involved. Every coin was in my complete control, and I was the only one who had the private keys.

Looking for a signature campaign.
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January 30, 2020, 04:11:19 PM
Last edit: January 30, 2020, 04:35:23 PM by marlboroza
Merited by JollyGood (1)
 #123

^ apparently it is OK to advertise "bitconnect" for people who can be trusted with funds Cool
Let me make this clear so my words aren't twisted again.
Having ponzis in your signature is bad and shouldn't be done.
But it's still not a crime and worthy of a tag.
Actually, this statement is not correct. Do better research next time.

is this characterization as a ponzi based on the idea that the promised returns are unrealistic?
In my opinion this is sophisticated scam scheme. Hypothetically, they release 1,000,0000 fake tokens for investment purposes and set price 50 sat each and promise 10% more tokens on investment. As token is fake and it doesn't really have supply (they can "print" as many tokens they want), 10% more fake tokens each day is possible and not so unrealistic in this scenario, they are basically adding more numbers (of course, after some time, that number will certainly become 10xxx)

So, they sell all their million "numbers" for 50btc, raise each investment by 10% more "numbers" and then let users dump on each others those "numbers" until whole scheme collapse, then they start new scheme with new name. Every scheme they make will collapse:




It is interesting to point that they claim to be cryptocurrency stock exchange:

...while x10 is what exactly?



Except it is fake, we can discuss is it ponzi, pump and dump or whatever it is, but final line is - it is scam.

Even if I stayed in the campaign I would still be more credible&trustworthy than 99.9% of this forum. Proven.
This is true. And that makes it so much worse: a trusted user promoting a ponzi scam is much more likely to make people spend their money on X10 than a red-trusted user who doesn't have +20 in his profile.
Exactly. Who remembers Arbitao arbitrage scam and someone saying something within lines "yahoo is managing campaign, yahoo is very trusted user therefore Arbitao is not scam"?
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January 30, 2020, 04:46:38 PM
 #124

Eventually, every scheme they make will eventually collapse:



I saw that yesterday, but it's not over yet.
There is still the DOGE/X10 pair that is running.
Of course, it went down from 0.05 to 0.015 but there are still people who buy this crap.

And meanwhile, they have moved to the next scam, Yoda.

Who remembers Arbitao arbitrage scam

Who could forget the Big Ben Takedown  Grin Grin

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January 30, 2020, 05:01:37 PM
Last edit: January 30, 2020, 05:23:49 PM by naska21
 #125

~JollyGood


You are getting too big for your britches. This is not what the trust system is for.




That man is really mentally sick. Tagged  me the second time for the same discussions  on Minexcoin thread , refering to https://bitcointalk.org/index.php?topic=1847292.msg47743232#msg47743232 He has removed his first tag after I send him merit for his saying that Minexcoin is dead https://bitcointalk.org/index.php?topic=5090539.msg52742371#msg52742371.  Now he tagged me again referring to the same Minexcoin issue.  I wonder does he want a merit from me again. or what?

Not trustworthy and seems to be a trust abuser.
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January 30, 2020, 09:15:52 PM
 #126

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^ apparently it is OK to advertise "bitconnect" for people who can be trusted with funds

This is contradictory to all the statements I made.
Even the one you quoted.

Quote
Let me make this clear so my words aren't twisted again.
Having ponzis in your signature is bad and shouldn't be done.

My take was that people who participated in the campaign are not hish-risk and tagging them is abuse of the trust system.

Looking for a signature campaign.
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January 31, 2020, 11:04:10 AM
 #127

Finally am locking this thread as nothing constructive is being added by those that support either Yobit itself or just their x10 ponzi scheme.

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