Bitponzi.io - fair ponzi with automated hourly payments, 150% in 150 hours.

[thExit]

There's something you don't take into consideration -
if Madoff's investors could see his books they wouldn't give him money, right?
And Bitcoin allows you to do exactly that, monitor the whole accounting, and make intellgient bets.
Bitcoin transparency is a game-changer here.

As for program promotion - it is being promoted, and also participants are very welcome to help, since their success depends on this too.

Of course I take it into consideration:) One thing you could do to improve the chances of your Fair Ponzi to succeed is to give a clear clue for investors/gamblers (choose a name:) how to behave, what to do in order to make money and make the system work. When you monitor the whole accounting, please let us, the noob Pozni gamers, know what to be looking for. Let us, the noob Ponzi gamers, know how to make "intelligent bets". Tell us to come in early, as early as possible, so we have a greater chance to get our money back before the scheme runs out of money.

I am certain that there is a strict line of behaviour, which, if followed by all the participants, would guarantee a success of this scheme. If you are proposing a Fair Ponzi, why won't you go one step further by telling people EXACTLY what to do for all of us to succeed? This would be a true novelty, and a way to make your Ponzi even more fair.

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[Joca97]

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

[bitponzi.io]

I didn't think that it was so complicated actually, it's sufficient to monitor the ponzi balance, hourly payments, and new funds flow. also plots like that can be of value: https://blockchain.info/charts/received-per-day?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=1PoNzi7PGzRyvc9KWYBcaauS3oeJqa5vFg

 All this info is available through blockchain. We will also make some stats at the website soon.

There's something you don't take into consideration -
if Madoff's investors could see his books they wouldn't give him money, right?
And Bitcoin allows you to do exactly that, monitor the whole accounting, and make intellgient bets.
Bitcoin transparency is a game-changer here.

As for program promotion - it is being promoted, and also participants are very welcome to help, since their success depends on this too.

Of course I take it into consideration:) One thing you could do to improve the chances of your Fair Ponzi to succeed is to give a clear clue for investors/gamblers (choose a name:) how to behave, what to do in order to make money and make the system work. When you monitor the whole accounting, please let us, the noob Pozni gamers, know what to be looking for. Let us, the noob Ponzi gamers, know how to make "intelligent bets". Tell us to come in early, as early as possible, so we have a greater chance to get our money back before the scheme runs out of money.

I am certain that there is a strict line of behaviour, which, if followed by all the participants, would guarantee a success of this scheme. If you are proposing a Fair Ponzi, why won't you go one step further by telling people EXACTLY what to do for all of us to succeed? This would be a true novelty, and a way to make your Ponzi even more fair.

[bitponzi.io]

We are not a scam. Please read the program description.

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

[ChiliPowder]

We are not a scam. Please read the program description.

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

Yea thats what you all say, then you run with the money.


Just cause you tell us its a Ponzi doesnt mean your not gonna fuck eveyone.

[bitponzi.io]

We answered that question already.
It doesn't make sense, we're making profits from the fees. Balance doesn't really grow.

We are not a scam. Please read the program description.

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

Yea thats what you all say, then you run with the money.


Just cause you tell us its a Ponzi doesnt mean your not gonna fuck eveyone.

[thExit]

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

Why should they block it? If they did, people would never learn to recognize scammers themselves. If a person gets burned once, maybe it will spare their fortune in the future. The moderators cannot act as brains for someone. What is awkward is that financial pyramids resurface in societies over time. In my country, Poland, recently we had a case of Amber Gold, a para-bank organization that was supposed to turn people’s money deposits into gold and hold it for long-term gains, promising a return few times higher than regular banks gave. It turned out that the company bought a fraction of the gold they should and “invested” the money elsewhere. Those details are not that important. What is important is that in every few years a new pyramid/heist resurfaces, even if this is in a national scale, where media continue to the topic for few months, waning people over and over. Three or four years is enough for people/the most of the society to forget that they need to be cautious with their money. Same case here. If people don’t learn once and for all to avoid Ponzis, blocking them won’t make any sense, as they may be well hidden.

I didn't think that it was so complicated actually, it's sufficient to monitor the ponzi balance, hourly payments, and new funds flow. also plots like that can be of value: https://blockchain.info/charts/received-per-day?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=1PoNzi7PGzRyvc9KWYBcaauS3oeJqa5vFg

 All this info is available through blockchain. We will also make some stats at the website soon.

There's something you don't take into consideration -
if Madoff's investors could see his books they wouldn't give him money, right?
And Bitcoin allows you to do exactly that, monitor the whole accounting, and make intellgient bets.
Bitcoin transparency is a game-changer here.

As for program promotion - it is being promoted, and also participants are very welcome to help, since their success depends on this too.

Of course I take it into consideration:) One thing you could do to improve the chances of your Fair Ponzi to succeed is to give a clear clue for investors/gamblers (choose a name:) how to behave, what to do in order to make money and make the system work. When you monitor the whole accounting, please let us, the noob Pozni gamers, know what to be looking for. Let us, the noob Ponzi gamers, know how to make "intelligent bets". Tell us to come in early, as early as possible, so we have a greater chance to get our money back before the scheme runs out of money.

I am certain that there is a strict line of behaviour, which, if followed by all the participants, would guarantee a success of this scheme. If you are proposing a Fair Ponzi, why won't you go one step further by telling people EXACTLY what to do for all of us to succeed? This would be a true novelty, and a way to make your Ponzi even more fair.

Your statement does not answer my "noob" question in any way. What values should the balance be within in a given time, what is the requirement for new funds flow, with sufficient, precise data you may convince me. "it's sufficient to monitor the ponzi balance, hourly payments, and new funds flow" those are general statements just like "invest in companies with solid foundations". If I want to invest in those companies, I will do my own research and judge myself what are those solid foundations, but here I am asking you to do the research for me in case of your Ponzi.

Let's suppose I want to be successful at your Ponzi, I am asking politely for precise clues, and you don't want to provide them. My conclusions are that you either cannot give me such clues, or you would like to use your "expert" knowledge yourself My questions come from my heart, I really want to help you run your scheme successfully, you have a chance to give all the gamblers clear guidance so both them and you can benefit, yet you neglect the chance. I'm starting to get confused. I hope that the upcoming stats on your website will answer my questions with precision.

[Joca97]

We are not a scam. Please read the program description.

i still dont understand why dosent this forum

block ponzis this is just obvious scam 5% of people dont get scamed and 95 % does

Yea thats what you all say, then you run with the money.


Just cause you tell us its a Ponzi doesnt mean your not gonna fuck eveyone.

okey if you want to get scam go for it

dont you say later that you werent warned!

[thExit]

I think it goes along those lines:

"They" have a bit of knowledge on how Bitcoin works. Maybe they are students or some youngsters. They were looking for a way to cash in on Bitcoin, they can't run a sophisticated service like an exchange, can't open a shop, can't invest the money, so they thought, well, we can come up with an honest Ponzi. We'll earn 1% provision, honestly. So they set up the website and started advocating themselves. They came up with the Ponzi as they are not capable of doing something more elaborate (not yet). It's the reversed approach to business- they thought they can do it, not wondering if people need it or want to take part in it. They created a service and are now looking for customers. Next time "they" should look at customers, what people want and need, and if "they" spot the need, then "they" should create a service. One day "they" may learn how to run a business properly, everyone needs to start at some point. I would grant them with a bit of trust- as long as they can earn at least some pennies from their 1% commission. But as they grow, the temptation to run off gets bigger:) Perhaps "they" would need an escrow.

[dooglus]

We are a Ponzi gambling system offering automated hourly payments. We do not invest, gamble, or otherwise use your money other than to pay it to the previous depositors. 1% of the deposited funds goes for system maintenance.

Wow! You don't see an honest Ponzi very often.

Well done.

[thExit]

We are a Ponzi gambling system offering automated hourly payments. We do not invest, gamble, or otherwise use your money other than to pay it to the previous depositors. 1% of the deposited funds goes for system maintenance.

Wow! You don't see an honest Ponzi very often.

Well done.

Yes, we've all been given a chance to get extra rich extra fast, and are stupid not to give it a shot.

BTW Dooglus, best wishes to you, I'm not a player nor an investor (yet), I was researching how Bitcoin is used for gambling and I run into Just-Dice thread, just a day after you decided to halt the operation. I am impressed with your work, happy to see you back in the game. Good luck

[a1choi]

i like the way you advertise this.  no guarantees of any kind and open wallet.  ponzi's still a ponzi but at least you're not putting lipstick on it.

[LanMachine]

+1

1 period complete!!

Thank you!!

[bitponzi.io]

Thanks. The idea here is to turn Ponzi's into a form of gambling. It was not possible before, but with Bitcoin it becomes possible.

i like the way you advertise this.  no guarantees of any kind and open wallet.  ponzi's still a ponzi but at least you're not putting lipstick on it.

[bitponzi.io]

You are welcome
Actually first cycle is over for many deposits already. Let's do 1000 cycles

+1

1 period complete!!

Thank you!!

[dooglus]

Wow! You don't see an honest Ponzi very often.

Well done.

Yes, we've all been given a chance to get extra rich extra fast, and are stupid not to give it a shot.

BTW Dooglus, best wishes to you, I'm not a player nor an investor (yet), I was researching how Bitcoin is used for gambling and I run into Just-Dice thread, just a day after you decided to halt the operation. I am impressed with your work, happy to see you back in the game. Good luck

There's a difference between running a Ponzi scheme honestly and running a Ponzi scheme that is worth playing.

Most people running Ponzi schemes tell their victims that they are investing the money somewhere that makes amazing returns; they're mining, or daytrading, or in some other way putting your coins to work to make the returns they promise. They're almost always lying. They just use new deposits to fund the returns of older depositors.

OP here isn't lying. He openly says that he's not investing the deposits at all, and is simply running a classic Ponzi.

That's better than what most Ponzi operators do.

I still wouldn't play, or recommend playing. But it's good that OP is being honest about his scheme.

One criticism I would make is that he's not clear about the end game. What happens when it comes to be payout time and he only has 75% of the amount he needs to make a payout?

Does he:

1) shut down, and keep the remaining funds for himself?
2) shut down, and make a final 75% payout?
3) skip this payout, wait for new deposits, then continue business as usual whenever there's enough to make a full hourly payout?
4) something else?

It would be good to have that clearly specified.

In fact it would be good to have the whole thing written up as an Ethereum contract! It could take no fee at all and be clear to everyone that it was as fair as possible. It's the next evolutionary step. We have transparency through the blockchain, we have automatic payments, and next Etherium will give us absolute certainty that OP isn't going to run with the coins, since OP is an Ethereum contract that blindly follows his own rules.

[thExit]

Wow! You don't see an honest Ponzi very often.

Well done.

Yes, we've all been given a chance to get extra rich extra fast, and are stupid not to give it a shot.

BTW Dooglus, best wishes to you, I'm not a player nor an investor (yet), I was researching how Bitcoin is used for gambling and I run into Just-Dice thread, just a day after you decided to halt the operation. I am impressed with your work, happy to see you back in the game. Good luck

There's a difference between running a Ponzi scheme honestly and running a Ponzi scheme that is worth playing.

Most people running Ponzi schemes tell their victims that they are investing the money somewhere that makes amazing returns; they're mining, or daytrading, or in some other way putting your coins to work to make the returns they promise. They're almost always lying. They just use new deposits to fund the returns of older depositors.

OP here isn't lying. He openly says that he's not investing the deposits at all, and is simply running a classic Ponzi.

That's better than what most Ponzi operators do.

I still wouldn't play, or recommend playing. But it's good that OP is being honest about his scheme.

One criticism I would make is that he's not clear about the end game. What happens when it comes to be payout time and he only has 75% of the amount he needs to make a payout?

Does he:

1) shut down, and keep the remaining funds for himself?
2) shut down, and make a final 75% payout?
3) skip this payout, wait for new deposits, then continue business as usual whenever there's enough to make a full hourly payout?
4) something else?

It would be good to have that clearly specified.

In fact it would be good to have the whole thing written up as an Ethereum contract! It could take no fee at all and be clear to everyone that it was as fair as possible. It's the next evolutionary step. We have transparency through the blockchain, we have automatic payments, and next Etherium will give us absolute certainty that OP isn't going to run with the coins, since OP is an Ethereum contract that blindly follows his own rules.

This is an idea very well put. As I am a proponent of new solutions and opportunities given by the block chain, in my recent posts I have vocalised my concerns with regards to a Ponzi, but as well given some credit of trust towards the OP. I've encouraged him to educate us how to make this Fair Ponzi run smoothly (with a dose of scepticism and mockery:) but still believing his intentions are good). This is the time to change the world as we know it, to change finances, voting, bets, contracts.

@Dooglus, it is good to have a more knowledgable member writing in this thread, I am relatively new to the cryptocurrency society, I didn't even consider looking at Ethereum (despite having heard about them), but now I will take a peak at them, what you are writing is just what I was looking for for my own projects. Thank you.

[dooglus]

I didn't even consider looking at Ethereum (despite having heard about them), but now I will take a peak at them, what you are writing is just what I was looking for for my own projects. Thank you.

As I understand it, it's like Bitcoin except that you can add arbitrarily complex (turing complete) rules to addresses. So you could write things like "each time there's a deposit to this address, split it between all the previous depositors to this address in proportion to the site of their deposit, until they have received 150% of the amount of their deposit back" into the blockchain. Then everyone can see the rule and be sure that the Ponzi was "fair".

Obviously it's still a Ponzi, and some people are going to end up out of pocket, but at least there's no OP taking his 1%, and there's no risk that OP will run off, because he never gets access to the coins.

[thExit]

Please take the following words of advice. Instead of running this Fair Ponzi by yourself, employ the blockchain technology to create a “Provably Fair Ponzi Scheme”, where we can see the balance (you already have this feature implemented;), where payouts are made automatically to all the people that cashed in, where you do not have the ability to run off with the money (in your current Ponzi there is the element of trust, why not eliminate the need for trust?), and where you automatically get the 1% maintenance fee. That would be a “Fair Ponzi”. Go for it.

Wow, it's the first time I can quote myself:D Forgive me my fuzzy description, I am quoting myself just to highlight that in fact there might be a way to achieve a Provably Fair Ponzi, as Dooglus puts it more technically:

I didn't even consider looking at Ethereum (despite having heard about them), but now I will take a peak at them, what you are writing is just what I was looking for for my own projects. Thank you.

As I understand it, it's like Bitcoin except that you can add arbitrarily complex (turing complete) rules to addresses. So you could write things like "each time there's a deposit to this address, split it between all the previous depositors to this address in proportion to the site of their deposit, until they have received 150% of the amount of their deposit back" into the blockchain. Then everyone can see the rule and be sure that the Ponzi was "fair".

Obviously it's still a Ponzi, and some people are going to end up out of pocket, but at least there's no OP taking his 1%, and there's no risk that OP will run off, because he never gets access to the coins.

BTW, you're a hazard to this thread:) saying there's no need for an OP taking 1%. But I guess this is how evolution manifests itself through the block chain.

[dooglus]

BTW, you're a hazard to this thread:) saying there's no need for an OP taking 1%. But I guess this is how evolution manifests itself through the block chain.

and hopefully to Ponzis in general. If you were to make an Etherium Ponzi with a 1% fee, someone would just clone it but change the fee to 0.5%, and so on. Since it's trustless the only thing you can compete on is fee, and so it's a race to the bottom. The fee would have to end up at zero.

See also: dice sites, exchanges, and anything else currently taking a fee for a service that can be decentralised and made trust-less.