New Way to Earn `BTC`

[waqas]

KAMETI OF PAKISTAN 

This Idea is not going to work why are you wasting time of members here you already in Negative trust so please lock this thread and do some other stuff

[Umer]

I don't understand how this is any different from a gaint pyramid scheme
Once people stop joining, then the people at the bottom of the pyramid lose their coins

I already metioned that i take collateral of some altcoins.. IF they stop i will sell it and give to users.. okhy...

And i make it to weeks not months so 10 weeks is not so long..

And everyone who is saying scam dont work whatever ...

I just want to tell yo something that it is not necessary that a newbie will scam ... A good reputation members can scam too....

YOu all say that newbie scamss.

And i go to lending section to lend some coins ...but i found that this way weather i got my payment on 10th week but its a better way to collect btc..

I just say all of you to read the thread carefully and understand it ..

[Smack That Ace]

The thing that he is trying to explain is used by Old Aunties and Women in pakistan who are very bored and have nothing better then to sit together and have coffee. They pool money together every month and then once a month the money is given to the member of the Committee not KAMETI or whatever concept this guy is trying to come up with.
Its actually pointless as its just a saving mechanism and nothing else. So every month a bored, usually fat and uneducated aunty gives money to a nominated member who usually scams others and gives the saving to the person they like. This way the people close to the member get thier savings first and others towards the end.
THis is not a ponzi, pyramid or any scam. Its just plain as stupid and costs more when you end up paying for coffee.
Its better to put and amount of money under your pillow and after some time take the money and use it.

Like i said, its just funny to read what he wrote and how he explained it otherwise i wouldnt be even bothered to reply to his post.

Regards

Duke

[jambola2]

This is how it works  , in my mind atleast.

I pay 0.05 BTC along with 10 other guys. This refunds the 0.5 BTC for the guy before me/
I then wait 1-10 weeks to get repaid.

Basically , it is a ponzi with an element of luck.
Luckier people may get out of the ponzi fast enough , and unlucky people , even though they enter the ponzi first will not get anything.

[waterpile]

I like the "Warning: Trade with extreme caution!" in ur profile  

[Farmer17]

Basically , it is a ponzi with an element of luck.
Luckier people may get out of the ponzi fast enough , and unlucky people , even though they enter the ponzi first will not get anything.

It is a ponzi with selective payment and OP "randomly" pick the "lucky player"
So, OP could just get a new account here, and pretend to be the "lucky player" who get the payment.

[Farmer17]

I like the "Warning: Trade with extreme caution!" in ur profile  

Right after registering his account, OP went straight to the lending section to borrow bitcoin.
Without success, he came up with a new idea and made this thread lol.

I know I am new and want to earn some bitcoin for free or just collect them easily

[Parazyd]

This is pirate all over again

[Umer]

This is how it works  , in my mind atleast.

I pay 0.05 BTC along with 10 other guys. This refunds the 0.5 BTC for the guy before me/
I then wait 1-10 weeks to get repaid.

Basically , it is a ponzi with an element of luck.
Luckier people may get out of the ponzi fast enough , and unlucky people , even though they enter the ponzi first will not get anything.

This is a pyramid scheme...not a ponzi.

People use the word ponzi to often here when they are usually pyramids...
What you just said, was a pyramid scheme, not a ponzi scheme...look up the difference between the two.

No one is joining this scheme because of my trust lol .. my trust is just broken ..

And i will say thats a good scheme ..

And now i change it to months from week ... so 10 weeks =about 2.5 months

[waqas]

Its a crap scheme...10 weeks? you're joking
even a week is to long
people want to be paid NEXT DAY and SEE PAYMENTS COMING IN...not account balances, it means nothing.

If next time he announces he is going to do this in 10 days instead of 10 weeks then still no one going to join this scheme because he is already in Red

[jjc326]

Sounds like lottery or ponzi.  There is no FREE money in the world, you have to try to work and contribute something to someone to get money man.  Chill with these get rich quick scams.  Try to learn something that people need.  Sure this might work among friends or family but not on an anonymous web.

[RainMan28]

The thing that he is trying to explain is used by Old Aunties and Women in pakistan who are very bored and have nothing better then to sit together and have coffee. They pool money together every month and then once a month the money is given to the member of the Committee not KAMETI or whatever concept this guy is trying to come up with.
Its actually pointless as its just a saving mechanism and nothing else. So every month a bored, usually fat and uneducated aunty gives money to a nominated member who usually scams others and gives the saving to the person they like. This way the people close to the member get thier savings first and others towards the end.
THis is not a ponzi, pyramid or any scam. Its just plain as stupid and costs more when you end up paying for coffee.
Its better to put and amount of money under your pillow and after some time take the money and use it.

Like i said, its just funny to read what he wrote and how he explained it otherwise i wouldnt be even bothered to reply to his post.

Regards

Duke

This thread has so much fail but you're the only person who properly understood what OP was talking about and explained it properly. Props to you.

And I agree, there's no point to it. Just save the money yourself. The only benefit of the Committee system in Pakistan (when done fairly) is that if you need to make a large purchase sooner than later, it serves as a good interest free loan system without the need of some bank. You rely on your community to help you out.

[Smack That Ace]

Hello Rain man.

You are 100 percent correct. It started as a way to become free from the large interest payments bank charge in Pakistan and now its used by almost any group to fund whatever item or project they are trying to do.
It is also being used alot in mosques and other religious committees to fund whatever they do. And im sure many on the forum know what religious fanatics actually do. LOL