(Warning) Ponzi Scheme - Scammer

[Harkorede]

What happened:  Redswap is promoting what very likely isn't even a Ponzi Scheme but a scam attempt.
Profile: Redswap
Link: https://bitcointalk.org/index.php?topic=5249185
Archive: http://archive.is/dqM2g

Flag: https://bitcointalk.org/index.php?action=trust;flag=1854

Become a member of Ponziland and you will receive free bitcoins coming from new members!

Minimal membership cost: 0,01 bitcoin

Bitcoins must be sent to this adress: 1ByFYgEU5Y3FdHw6rvy3A549a5QjWAUYVk

Members receive 95% of the bitcoins coming from new members (I keep 5%) and they have 2 times more chance to win to the monthly lottery than non-members. To make me know who gives me bitcoins, send your bitcoin adress in the bitcoin-adresses channel. For the lottery, your probability of winning is proportionnal to how much bitcoins you send to me, and it is 2 times higher if you are a member. If you give me exactly 0,01 bitcoin or a multiple of 0,01 bitcoin, I will consider this as the membership cost for your bitcoin adress (if you give me 0,02 BTC for example, you will receive 2 times more money from new members than what you would receive if you only gave me 0,01 BTC), and if you give me any other amount of money, I will consider it as bitcoins you put into the lottery. I keep 5% of the final amount of bitcoins in the lottery every month, and the winner (chosen randomly) wins the rest. Oh, and I don't give refunds. All the money coming from new members will be given to old members every month, except if you ask me to keep it and give it to you later to reduce the transaction fees.

Our Discord server: https://discord.gg/cT8agjH

Note: For personnal donations, please use this adress instead: 163RCTwn8fY5rsiZ5tnmTJjyfFScv7wgWK

[TalkStar]

How could someone spread baseless investment ideas   like this? I think this guy is trying to add his name on scammers list for the first time and have very little knowledge about crypto investment. What an poor idea to make investors fool. Most interesting part for me , "Money coming from new members will be given to old members every month". This brainless idiots are just trying to mislead people and their only intention is to run away with investors fund.

As i am seeing from my end that moderators have already taken their action by deleting all garbage from this user. After that flag supported and profile will be tagged shortly to raise community users awareness about different kind of scammers.

 " OP" you did a good job by revealing another ponzi scammer. Keep continuously doing your investigation against these frauds.

[Redswap]

Just if you want to know (anyway the post was deleted) it was a real Ponzi scheme, and my intention was not to run away with your money. Why would I steal your money if I keep 5% of the money coming from new members and 5% of the money coming from the lottery?

[Harkorede]

Why would I steal your money if I keep 5% of the money coming from new members and 5% of the money coming from the lottery?

Right, That surely seem about a perfect excuse for people to entrust a total stranger with their money, to facilitate the most unreasonable business no, sorry scam model

It makes all sense, you've got nothing lose and you get to keep 5% off everyone until gullible new members stop joining, then bang! the last set of investors gets to hold the bag!

[Avirunes]

Why would I steal your money if I keep 5% of the money coming from new members and 5% of the money coming from the lottery?

Classic excuse going on for sometime now. The whole pot is much more than the 5% you take. Plus on other hand you are a newbie. So it becomes hard to believe when you say that you will take only 5% when you can get the 95% as well. With those two big red flags no one would trust and obviously see it as a scam attempt.

I wonder what would happen if there is not much new members or perhaps no new members? Also you could also fake details regarding new members and can display you are not getting enough from new members.


Good Job @Harkorede

[Redswap]

I should have done this with a smart contract on Ethereum instead. With a smart contract you could not say I would steal your money.

[Redswap]

When I put my legit "Ponzi scheme" on the forum I didn't expect my trust to go down before I would actually scam people. And my intention wasn't to scam people, I just wanted to create an "honest" Ponzi scheme that would REALLY pay its members when new members would come. Therefore I believe that this was just a beginner mistake, and that you shouldn't really rely on that to think I would steal your money during a transaction. I'm not that kind of person. I'm rather the kind of person who try to take advantage of the market in compliance with the rules of libertarianism. In a libertarian society, "honest" Ponzi schemes (like mine) can exist, but you can't steal someone else's money. So it's no more risky to trade with me than with any other newbie.

[ScamViruS]

When I put my legit "Ponzi scheme" on the forum I didn't expect my trust to go down before I would actually scam people. And my intention wasn't to scam people, I just wanted to create an "honest" Ponzi scheme that would REALLY pay its members when new members would come. Therefore I believe that this was just a beginner mistake, and that you shouldn't really rely on that to think I would steal your money during a transaction. I'm not that kind of person. I'm rather the kind of person who try to take advantage of the market in compliance with the rules of libertarianism. In a libertarian society, "honest" Ponzi schemes (like mine) can exist, but you can't steal someone else's money. So it's no more risky to trade with me than with any other newbie.

Honest ponzi scheme! Everyone knows the consequences of Ponzi scheme. With the money of new members, how long will your ponzi website be able to run? Or as soon as you get a large deposit, withdrawal will stop? You are trying to prove yourself innocent, but no one will support you. This is because of your intentions, like the rest of the ponzi scheme website owners, who have already scammed the money of many investors.

[Harkorede]

I should have done this with a smart contract on Ethereum instead. With a smart contract you could not say I would steal your money.

Yes could, If you're the person who code the smart contract.

If you could just channel this same amount energy and determination into something rather decent, you would be able to come up something that'd would be worthwhile and you can actually be proud of.

I'm rather the kind of person who try to take advantage of the market in compliance with the rules of libertarianism. In a libertarian society, "honest" Ponzi schemes (like mine) can exist, but you can't steal someone else's money.

Honest and ponzi scheme are contradictory words, in my candid opinion.

So it's no more risky to trade with me than with any other newbie.

I would make use of an escrow if needs be that I must trade with a newbie. However, If it can be avoided, I won't.