Bitcoin Randomizer, just a stupid pyramid scheme

[BitLex]

Warning: the randomizer has been hacked!
don't send any coins, check your account and withdraw what's left.
i'm trying to figure out what happened.

first things first: i'm sorry!
i know it's been a long time, i hope you'll forgive me someday.

haven't really been active in the last couple of months,
only logged in to the forums to delete some junk-posts on the german subforums when i read about them on my mails and didnt really do anything in the bitcoin-world besides that.

so what happened to the randomizer?
as mentioned, it got hacked and no, it wasn't me.
someone injected the mysql database, changed users passwords, logged in to users accounts and changed btc-addresses to withdraw available coins.
that way he was able to grab about 100-150 bitcoins, or something in that range.

i probably should have taken down the site completely immediately,
but i actually planned to get rid of the leaks and bring it back on track.
life sucks sometimes though and i had to care about some other, more serious stuff in my life,
so i never found some time to even take a closer look into it.

anyway, there's still about 145BTC left on the randomizer wallet, i never touched them at all
and i would be more than happy to hand them out, the only question is how to do it.
if i just allow everyone to withdraw their available balance, even the hacker will be able to login to those accounts he changed and might get some more coins, noone wants that.

i guess the only feasible way would be for you to mail me with your username from the email address you registered your account with (if that mail address doesnt exist, you should at least be able to tell me, what it was).
it might take some more time, cuz i'll have to check each request manually, but i think it'll work.

if that's ok with you, please send your requests to fxnet@bitlex.org

[BitLex]

Use me as your sponsor so he doesn't take half the bitcoins upfront!

http://fxnet.co.cc/?ref=14

gladly i was just checking the DB before the next user got activated,
so i just have put him/her under your account.
as soon as he/she's activated, you should get your share.  
 

i think i'll work out a random-ref in case of no-ref, we'll see.

[BitLex]

ah, ok,
guess u wont get a share then. 

maybe i can catch one of the next ones to drop into your downline, i'll keep an eye on it.

[BitLex]

If someone want to make me his sponsor: http://fxnet.co.cc/?ref=16

i'v put you under davidonpda.

[BitLex]

you can withdraw as often as you want, as long as your balance is >0,
no need to re-enter, although your free to open up a second/third/forth/... account if you wish to.


oh and btw, you can not overpay,
overpayed coins, or those received after account-activation are available to withdraw too.
you could even use your account as a mobile-wallet, just edit the bcaOUT to whatever address you want to send coins to.

[Red]

I don't think this is a normal pyramid. I show the .5 now. Can I withdraw multiple times, or you withdraw once and have to reenter?

This is not an archetypical pyramid scheme. But it is of the class "Ponzi scheme". One were the benefits to investors are paid from their own money and/or subsequent investors money.

You are betting on the gullibility of others relative to your gullibility. (i.e. Am I the first to be gullible or the last to be gullible?)

[Ground Loop]

Whooo!  I'm in early on this one.   

http://fxnet.co.cc/?ref=18

Folks, get in at the TOP!  Reap the REWARDS!  These berries will lubricate your insides, whiten your teeth, and stop acne.

You get a whole bucket of detergent for the same price you're paying for one department-store bottle!

You'll go from being in BTC debt, to running a balance.  Maserati?  Lambo?  These are the tough decisions you will have to make over a fruity adult beverage.

You can be your own boss, and your own best customer!

Act now.
http://fxnet.co.cc/?ref=18

[BitcoinFX]

Whooo!  I'm in early on this one.   

http://fxnet.co.cc/?ref=18

Folks, get in at the TOP!  Reap the REWARDS!  These berries will lubricate your insides, whiten your teeth, and stop acne.

You get a whole bucket of detergent for the same price you're paying for one department-store bottle!

You'll go from being in BTC debt, to running a balance.  Maserati?  Lambo?  These are the tough decisions you will have to make over a fruity adult beverage.

You can be your own boss, and your own best customer!

Act now.
http://fxnet.co.cc/?ref=18

LOL - So many justified arguments against "Ponzi Schemes". I argue that Money is a Ponzi Scheme, Capitalism is a Ponzi Scheme and Life is a Ponzi Scheme ! 

HEY I was an early Bitcoin adopter and started 'generating' Bitcoins before most here ! I have more Bitcoins than you !.... yada yada

WAIT - Bitcoin is a Ponzi Scheme !!!  * joking * 

[Ground Loop]

oh and btw, you can not overpay,
overpayed coins, or those received after account-activation are available to withdraw too.
you could even use your account as a mobile-wallet, just edit the bcaOUT to whatever address you want to send coins to.

How much confirmation does it wait for?  The first 1.00 hit right away.. the second one seems to be taking longer? Nothing showing up yet.  0 confirmations.

[BitLex]

How much confirmation does it wait for?

1 confirmation should do the job,
i just send 0.05 to my account to test it, it showed up on my balance as soon as it hits 1,
your (2nd) payment of 1.10 has 7 confirmations, so it should be on your balance and available to withdraw already.

[Red]

WAIT - Bitcoin is a Ponzi Scheme !!!  * joking * 

If you trade another commodity for bitcoins and SAVE the bitcoins, they you are gambling on relative future demand versus todays demand. If the future demand for bitcoins is higher you win, if it is lower you lose.

There are only two reasons for other people to "demand" bitcoins. Either they wish to save them for future use. Or they wish to trade them in the near term for another commodity.

So if it turns out that "all of the demand" for bitcoins is because people want to save them and sell them later when they are in higher demand, then you have a classic ponzi scheme.

If "all of the demand" is for use in immediate trading, then you have a very high velocity type of currency. (Changes hands many times over a short period of time) Counter-intuitively this "highest velocity" case actually defines the minimum demand for currency in a given community.

So yes, at the moment bitcoins as an investment fit nicely under the umbrella class of "Ponzi scheme". As a holder of bitcoins, the value of the coins increases most as more people decide to purchase bitcoins and save them.

When trading, the highest demand for bitcoins is caused by the smallest cycles.  
1) A has bitcoins, wants Apples; B has Apples, wants bitcoins
2) A has Dollars, wants Apples; B has Apples, wants bitcoins; C has bitcoins, wants Dollars.
3) A has Dollars, wants Apples; B hash Apples, wants Oranges; C has oranges, wants bitcoins; D has bitcoins, wants Dollars.

In (1) trading one unit of Apples, requires one unit of bitcoins
In (2) trading two units (Apples & Dollars), required only one unit of bitcoins.
In (3) trading three units (Apples, Oranges & Dollars), required only one unit of bitcoins.

So as bitcoin becomes popular for people to both buy and sell things using bitcoins, the demand for coins could very well drop. If you are speculating in bitcoins but promoting bitcoins for trading, you want small cycle trades (a la paypal). Large cycle trades minimizes the demand for your holdings.

So I really wasn't blowing smoke when I said Bitcoin has many Ponzi like characteristics. That may not be the intent of bitcoin users, but neither was it the intent of Ponzi's investors either.

[BitLex]

something interesting happened now and i'd like to let you know.

concerns: user 19+20

i'm still keeping an eye on new users and switch their refs to the previous userid, when they have no ref (=me).
so i changed the sponsor of user 20 from 1 to 19,
unfortunately user 19 didn't activate his account yet, if he's not fast enough, a 2nd random member will be choosen instead to receive those 50% sponsor-fee.

you can accidentally(?) sponsor others even when your account is not yet activated (you just wont see the promoURL, but it's not that it's hard to guess).

the funny thing about this is, that your already active referral might get a 50% (random) share of YOUR payment, if you ever activate your account.


slightly edited
after i noticed, that both aren't activated yet (user 20 has sent the initial payment, but not activated yet). Go for it 19! 

[BitLex]

IF we trusted you

Nuuus, don't do that! 

[FreeMoney]

Ah, I'm 19!

I was going to make another because I didn't use a referral link for anyone. I guess that doesn't matter since I'd be choosing randomly anyway. Am I too late? I'll do it now.

edit:
I sent 1. My sponsor is now 18. active:no

Just waiting for it to clear, right?

[BitLex]

you won the race and are activated, so should your account-info say.

it says active: no as long as it hasn't received at least 1btc (confirmed) in total (doesn't matter how, or when).

[FreeMoney]

you won the race and are activated, so should your account-info say.

it says active: no as long as it hasn't received at least 1btc (confirmed) in total (doesn't matter how, or when).

cool.

[Insti]

What is the 'add a link' page for?
Here do I get my referrer link from?

Are these two things related?

[FreeMoney]

What is the 'add a link' page for?
Here do I get my referrer link from?

Are these two things related?

I think it means one of those newfangled hypertextual links for connecting internet pages to one another ;-)

[BitLex]

hehe, sorry about not commenting those add&edit buttons. 

you can just add a url/title/description (or some) to sites you want to promote.
not yet of any use, but i'm working on it to integrate a link-rotation to all ref-pages.

you'll not only get incredible rich, but also receive tons of traffic! 

tell me what other features you'd like to see.


and you wont SEE your referrer link (but it exists) as long as your account is not activated,
once it is, you'll see the link.

[BitLex]

everyone deserves some referrals,
default sponsor (for those not including ref-ids) is now random.