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BTConomist (OP)
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February 04, 2012, 09:47:42 PM |
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Sergei Mavrodi, the founder of MMM, didn't pimp bitcoin, he ponzied it. As these blog posts seem to suggest (in Russian), Mavrodi wants to become a market maker for BTC <--> FIAT trading. But unlike Mt.Gox, Mavrodi would not use bid-offer spreads -- he would just specify an initial price for each share of MMM-2011 (i.e. his version of BTC), and then keep increasing that price at a steady rate (high enough to provide attractive returns to current investors). |
Bitcoins are earned, not traded! If you plan on hoarding BTC, you're on my target list. (And yes, it is possible to swim in BTC.) Don't give me that Bull... I'm one of those honey eating Bears that the bees hope to never meet again... Viva la BTC!!! |
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cbeast
Donator
Legendary
 Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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February 04, 2012, 10:25:12 PM |
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He just makes the price up? Isn't that how mtgox does it?  |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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pent
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February 05, 2012, 04:39:45 PM |
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Sergei Mavrodi, the founder of MMM, didn't pimp bitcoin, he ponzied it. As these blog posts seem to suggest (in Russian), Mavrodi wants to become a market maker for BTC <--> FIAT trading. But unlike Mt.Gox, Mavrodi would not use bid-offer spreads -- he would just specify an initial price for each share of MMM-2011 (i.e. his version of BTC), and then keep increasing that price at a steady rate (high enough to provide attractive returns to current investors). This site is outdated (last post year ago). new site is sergey-mavrodi.com http://i-mmm.com/en/index.php?drgn=1 (english) I didn't heared anyone in this pyramid accepts bitcoins. Possible due to volatility. |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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February 05, 2012, 04:45:55 PM |
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Sergei Mavrodi, the founder of MMM, didn't pimp bitcoin, he ponzied it. As these blog posts seem to suggest (in Russian), Mavrodi wants to become a market maker for BTC <--> FIAT trading. But unlike Mt.Gox, Mavrodi would not use bid-offer spreads -- he would just specify an initial price for each share of MMM-2011 (i.e. his version of BTC), and then keep increasing that price at a steady rate (high enough to provide attractive returns to current investors). This site is outdated (last post year ago). new site is sergey-mavrodi.com http://i-mmm.com/en/index.php?drgn=1 (english) I didn't heared anyone in this pyramid accepts bitcoins. Possible due to volatility. Maybe he is Ted Williams. |
Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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pent
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February 05, 2012, 04:50:20 PM |
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He is legendary person in russia, primary hated. But since he opened new pyramid, people started to love him ) In 1994 he just not crashed Russia economy, and then in 98, his followers in russia politic elite put Russia economic to default using pyramidal scheme in federal bonds. Mavrodi is more than Ponzi  |
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cbeast
Donator
Legendary
Offline
Activity: 1736
Merit: 1006
Let's talk governance, lipstick, and pigs.
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February 05, 2012, 04:59:13 PM |
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Mavrodi and Milken, two ex cons, probably understand money better than most economists. Considering they are small fish that got caught stealing millions (compared to the crooks at JP Morgan, Goldman Sachs, and other big banks that steal trillions), they may have insight into how Bitcoin can develop.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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pent
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February 05, 2012, 05:03:34 PM |
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In his oppinion, the "true" pyramid can be short-circuited on itself when all people will join it. And internal pyramid currency will displace all of federal currencies in the world.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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February 05, 2012, 05:25:33 PM |
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In his oppinion, the "true" pyramid can be short-circuited on itself when all people will join it. And internal pyramid currency will displace all of federal currencies in the world.
hes at the top of his pyramid |
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Tril
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February 05, 2012, 07:53:28 PM |
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Could Sergey selling invested bitcoins be responsible for the latest decline?
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istar
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February 05, 2012, 10:52:36 PM |
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How do Bitcoin enter the picture. In what way do he use them?
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Bitcoins - Because we should not pay to use our money
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aistto
Legendary
Offline
Activity: 1001
Merit: 1005
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February 10, 2012, 05:15:48 PM |
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Could Sergey selling invested bitcoins be responsible for the latest decline?
I think not directly. For example, one of my friend sell about 50 btc, and put then pyramid |
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