Bitcoin Ponzi - Ponzicoin ?

[BADecker]

A lot of folks have misunderstood what I meant with this idea. So, let me rewrite it some.

The reason for this whole thing is to get Bitcoin into the world and marketplace in a whole new way. It is for getting the MLM, Network Marketing world interested in Bitcoin, and without jeopardizing their "legal safety." The MLM industry is tremendously large, and it would benefit the future of Bitcoin to have them part of this.

"Ponzicoin" is simply a name, a word; it really means nothing; perhaps I should not have used it.

Also, I should not have used the term "fork" because it really isn't a fork of anything.

Here is what it is about, straight forward and simple:

1. Take the standard Bitcoin-Qt client and make a couple minor changes. The changes would NOT affect anything in the operation of Bitcoin, or the use of the client for bitcoin transactions.

2. The changes would include these several basic things:

• a tiny, 5-address, internal, blockchain-like, listing, inside the client itself. This listing would hold a list of bitcoin addresses that would compare with the upline in a MLM;
• a checkbox so that the user could join the "Ponzicoin" movement. If the user didn't check the box, the client would act exactly like the Bitcoin-Qt client in every way;
• if the user checked the box and hit the "Send" button, .5 bittcoins would automatically go to the 5 addresses listed in the internal blockchain, .1 bitcoin to each address;
• at the same time, an install program would be created, with an updated list in the internal blockchain, a list that had the oldest address removed, and the user's address added at "the bottom;"
• the checkbox would be rendered inoperable for future use;
• the client would be usable for future transactions just like the standard Bitcoin-Qt client;
• the user would give/email this install program to his MLM recruits so that they could start to use Bitdoin in exactly the way he/she did, thereby propagating Bitcoin in the MLM fashion. He/she might even put it up on his website for download.

This is basically it. There might be a splash page added to the client that would explain some of the points about Bitcoin. There could certainly be added links to bitcoin.org and some of the major Bitcoin websites. There might even be a place that a "distributor"/user could add his two cents worth to the bottom of the splash page.

The thing that I am looking for is ideas about how to make this better. Anyone who is a programmer can take it and run with it. Any number of programmers can make their version. If anyone does it (I am not a Qt programmer), I certainly would like a copy of it to start my own downline with.

Thanks for the ideas and replies.

I have left the original posting at the bottom.

I need somebody to program a new Bitcoin fork for me. It would be called Ponzicoin. The purpose would be to interest all the Network Marketing, MLM and chain letter people into joining Bitcoin. Here's how it would work.

First, it would be almost the same as the standard Bitcoin-Qt client. It would be designed to be used this way, even though there was a "Ponzi" section added.

One of the differences would be that it would contain within itself, a second, very short, blockchain. This second blockchain would be the Bitcoin addresses of the 5 (or so) upline people that would be paid when the current, potential member, paid his bitcoins to enter the Bitcoin Ponzi.

There would be a little checkbox in the client, that would have to be checked to activate a specific Ponzicoin client into the Bitcoin Ponzi program. In addition, there would have to be a minimum amount of bitcoins that would have to be available, in the wallet, to pay the upline - say, .5 bitcoins so that each upline address would get .1 bitcoins. If the little box wasn't checked, the client would act like a regular Bitcoin-Qt client.

Another difference would be that, once the upline payment was made, the client would lock itself so that it couldn't be used for making Ponzi payments again, even though it could be used for regular Bitcoin transactions.

Along with this, a whole new executable install client would be created. This would be the install that the member would pass on to his new recruits to join the program. In it, his Bitcoin address would have been added to the internal blockchain of 5 upline members, and the oldest of the addresses that he had sent to, would have been removed from the internal blockchain.

Now, I know that there are some problems with this idea as it stands. But just think of how Bitcoin would spread if I could get the help I needed to both, improve the idea, and then to program it.

What does everybody think?

 

[BADecker]

All right. There could be a feature where the client could be locked so that it could never be used for Ponzi-ing. Personally, I think the checkbox would be enough.

If a person received the Ponzicoin install from a friend, and he installed it on his computer, and he decide he didn't like the idea of MLM/Ponzi, he could lock the program in some way to keep it from ever being used as a Ponzi program, but he could still use it for Bitcoin transactions. Such a locking mechanism could be included.

Just an idea.



EDIT: Why not use the standard Bitcoin-Qt from the devs?

[Soros Shorts]

I think there is a flaw in your design. If the client is open source, why would I install your ponzi client instead of creating my own ponzi client and starting my own pyramid?

[BADecker]

I think there is a flaw in your design. If the client is open source, why would I install your ponzi client instead of creating my own ponzi client and starting my own pyramid?

There are NO MLM people who can do this. So, go ahead. The point is to get Bitcoin on the move and make a little, besides.

Create your own. I don't have the programming ability. So, I have given you the idea. Remember, it works with regular bitcoins. The idea of Ponzicoin is simply a front.

[cbeast]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

[BADecker]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it. 

[scarsbergholden]

This sounds a lot like another worthless altcoin to me. I don't see this adding anything of actual value that bitcoin cannot add and the network will obviously be much weaker then the bitcoin network.

[BADecker]

This sounds a lot like another worthless altcoin to me. I don't see this adding anything of actual value that bitcoin cannot add and the network will obviously be much weaker then the bitcoin network.

Not an altcoin. Ponzicoin is only a name, a front. Is simply another method for using Bitcoin.  

[cbeast]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it. 

It's also easy to cheat. Do MLM people like cheaters?

[BADecker]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it.  

It's also easy to cheat. Do MLM people like cheaters?

Freedom isn't cheating. However, one of the things that I am looking for is ideas for making it difficult to do the thing that might be considered cheating by some... to guide folks into the direction of using it as it is. There might come about alt-Ponzicoin clients. But, if we don't do it with Bitcoin, somebody just might apply this idea to Litecoin, or one of the others, that has its own blockchain.

The point is, nobody could control a Bitcoin MLM that was built right into the client. If it caught on in the MLM croud, Bitcoin would explode.

[cbeast]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it.  

It's also easy to cheat. Do MLM people like cheaters?

Freedom isn't cheating. However, one of the things that I am looking for is ideas for making it difficult to do the thing that might be considered cheating by some... to guide folks into the direction of using it as it is. There might come about alt-Ponzicoin clients. But, if we don't do it with Bitcoin, somebody just might apply this idea to Litecoin, or one of the others, that has its own blockchain.

The point is, nobody could control a Bitcoin MLM that was built right into the client. If it caught on in the MLM croud, Bitcoin would explode.

What I'm saying is that your idea is not an MLM. It doesn't work like an MLM. You're not going to fool anyone.

[BADecker]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it.  

It's also easy to cheat. Do MLM people like cheaters?

Freedom isn't cheating. However, one of the things that I am looking for is ideas for making it difficult to do the thing that might be considered cheating by some... to guide folks into the direction of using it as it is. There might come about alt-Ponzicoin clients. But, if we don't do it with Bitcoin, somebody just might apply this idea to Litecoin, or one of the others, that has its own blockchain.

The point is, nobody could control a Bitcoin MLM that was built right into the client. If it caught on in the MLM croud, Bitcoin would explode.

What I'm saying is that your idea is not an MLM. It doesn't work like an MLM. You're not going to fool anyone.

Basically, it is EXACTLY like simple MLM. It works like an automated chain letter that has no mailing or emailing requirements.

You give your install program to your friends. They install it; same as installing the Bitcoin-Qt client. They buy some bitcoins into their wallet, check the checkbox, and hit the button. Precisely .5 bitcoins is sent from the wallet (plus the miner fee), and a new install is created for them to pass on to their MLM friends. There could be a splash page built right into the client that explains how to use Bitcoin for everyday living.

Sure, they could "cheat." They could use the install program they just created, and continue to use it until they had created 5 new Bitcoin-Qt clients so that they could get paid more. But that is what I am asking for here... methods to slow down this "cheating" which really is simply freedom.

[cbeast]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it.  

It's also easy to cheat. Do MLM people like cheaters?

Freedom isn't cheating. However, one of the things that I am looking for is ideas for making it difficult to do the thing that might be considered cheating by some... to guide folks into the direction of using it as it is. There might come about alt-Ponzicoin clients. But, if we don't do it with Bitcoin, somebody just might apply this idea to Litecoin, or one of the others, that has its own blockchain.

The point is, nobody could control a Bitcoin MLM that was built right into the client. If it caught on in the MLM croud, Bitcoin would explode.

What I'm saying is that your idea is not an MLM. It doesn't work like an MLM. You're not going to fool anyone.

Basically, it is EXACTLY like simple MLM. It works like an automated chain letter that has no mailing or emailing requirements.

You give your install program to your friends. They install it; same as installing the Bitcoin-Qt client. They buy some bitcoins into their wallet, check the checkbox, and hit the button. Precisely .5 bitcoins is sent from the wallet (plus the miner fee), and a new install is created for them to pass on to their MLM friends. There could be a splash page built right into the client that explains how to use Bitcoin for everyday living.

Sure, they could "cheat." They could use the install program they just created, and continue to use it until they had created 5 new Bitcoin-Qt clients so that they could get paid more. But that is what I am asking for here... methods to slow down this "cheating" which really is simply freedom.

Bitcoin is highly resistant to the rules you want to impose. You also offer no incentive to slow down cheating. You can't design a tool with no purpose for its use. If you want to create an MLM using bitcoins, then color some bitcoins and offer an incentive for using them. That's what colored coins are for. You can even create a wallet that uses them in addition to bitcoins.

[BIT-Sharon]

Why it is called MLM? I feel it rely on the bitcoin blockchain. However, it is not like other altcoin, for it has the background of bitcoin as its background.

[scarsbergholden]

This sounds a lot like another worthless altcoin to me. I don't see this adding anything of actual value that bitcoin cannot add and the network will obviously be much weaker then the bitcoin network.

Not an altcoin. Ponzicoin is only a name, a front. Is simply another method for using Bitcoin.  

Wait what? How is this not an altcoin? How exactly does this work? Even though it would use the bitcoin blockchain it would still be adding nothing of value that bitcoin does not offer and would essentially be a ponzi (as the name implies). I see no reason to be using this.

[BADecker]

A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

MLM people like MLM. They would get all their people in just to make a profit off it.  

It's also easy to cheat. Do MLM people like cheaters?

Freedom isn't cheating. However, one of the things that I am looking for is ideas for making it difficult to do the thing that might be considered cheating by some... to guide folks into the direction of using it as it is. There might come about alt-Ponzicoin clients. But, if we don't do it with Bitcoin, somebody just might apply this idea to Litecoin, or one of the others, that has its own blockchain.

The point is, nobody could control a Bitcoin MLM that was built right into the client. If it caught on in the MLM croud, Bitcoin would explode.

What I'm saying is that your idea is not an MLM. It doesn't work like an MLM. You're not going to fool anyone.

Basically, it is EXACTLY like simple MLM. It works like an automated chain letter that has no mailing or emailing requirements.

You give your install program to your friends. They install it; same as installing the Bitcoin-Qt client. They buy some bitcoins into their wallet, check the checkbox, and hit the button. Precisely .5 bitcoins is sent from the wallet (plus the miner fee), and a new install is created for them to pass on to their MLM friends. There could be a splash page built right into the client that explains how to use Bitcoin for everyday living.

Sure, they could "cheat." They could use the install program they just created, and continue to use it until they had created 5 new Bitcoin-Qt clients so that they could get paid more. But that is what I am asking for here... methods to slow down this "cheating" which really is simply freedom.

Bitcoin is highly resistant to the rules you want to impose. You also offer no incentive to slow down cheating. You can't design a tool with no purpose for its use. If you want to create an MLM using bitcoins, then color some bitcoins and offer an incentive for using them. That's what colored coins are for. You can even create a wallet that uses them in addition to bitcoins.

What rules are those? It is simply a forked client, not a forked process.

There isn't any cheating. Banks might call Bitcoin cheating. We need your and everybody's imagination to find a solution that guides MLMers into using the client to the best benefit of all.

Again, this is NOT something other than Bitcoin. IT IS BITCOIN. It is simply a special client that is designed to use in MLM/Network Marketing/"chain letter" operations for recruiting people into Bitcoin the same as MLMers recruit people into a particular MLM company. The difference is that the "company" would be all automatic... in the client itself.

[faceplantz]

I will never trust any altcoin except for Bitcoin. Ever.

[BADecker]

Why it is called MLM? I feel it rely on the bitcoin blockchain. However, it is not like other altcoin, for it has the background of bitcoin as its background.

There is NO other coin. There is no altcoin. There is only Bitcoin.

[BADecker]

This is good. Got you interested, didn't I? Well, slow down a little, and read the first post. This is simply a method for getting MLM people interested in Bitcoin.

In MLM, a MLM company sets up a website. They let people sign up. The people introduce other people. When they buy the product, they make money according to the compensation plan.

This is just the same. Except there is no company website. It is all decentralized into the Bitcoin client.

[BADecker]

Let me say it this way.

Suppose Soros Shorts wanted to start a friend in Bitcoin. So, he emails the friend a Bitcoin client. He could have directed the friend to the main Bitcoin.org site. But in this case he emails the client. Let's say the friend's name is cbeast. Soros Shorts doesn't get anything out of getting cbeast started in Bitcoin, except the satisfaction of knowing he did it.

cbeast does the same thing. He gets his friend, scarsbergholden, interested in Bitcoin by emailing him a copy of the client.

scarsbergholden gets BIT-Sharon interested in the same way.

Nobody earns any money. But if they knew it was a way to not only spread the word about Bitcoin, but also a method to earn bitcoins, wouldn't they introduce more people?

In the Ponzicoin method, everything is done just the same except, Soros Shorts earns a tenth of a bitcoin off Bit-Sharon. So do cbeast and scarsbergholden. And when BIT-Sharon gets somebody going in Bitcoin, everybody earns .1 bitcoin off that person.

This is exciting to MLMers. They love this kind of thing. They live and breathe it. And if it happened to be built right into the client, they just might go crazy over it.

But I need your help with ideas for making it work better than the simple thing I have thought up. And, I give it to you. If you have a better idea, take it and run with it. But let me join, 'cause this is the thing that could explode Bitcoin all over the planet.