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hgmichna (OP)
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July 04, 2012, 07:25:39 PM |
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A Ponzi scheme, also called pyramid scam or similar, is a financial operation in which its operator promises investors a high interest payout, only to collect their money and run with it, as soon as his money mountain no longer grows fast. Early investors, who attempt to withdraw their accrued interest, will actually get it, so the scheme remains credible. So be wary if anybody offers you some incredibly high interest rate. A currently operating Ponzi scheme offered 7% per week, which is equal to 3,300% per year. Some stupid buggers actually "invested" money. Some still believe they will be paid back with interest. Bitcoin makes such things relatively easy, for two reasons: - The Ponzi scheme operator can remain anonymous (even if he tries to appear real, identifiable, and honest).
- Bitcoin is unregulated, so he may not even be illegal. Law enforcement might consider bitcoin toy money.
You have been warned. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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mollison
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July 04, 2012, 07:58:14 PM |
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A currently operating Ponzi scheme offered 7% per week, which is equal to 3,300% per year. Some stupid buggers actually "invested" money. Some still believe they will be paid back with interest.
What are you talking about? I have not heard of any proven Bitcoin-based Ponzi schemes. |
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Vladimir
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July 04, 2012, 08:27:30 PM |
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A currently operating Ponzi scheme offered 7% per week, which is equal to 3,300% per year. Some stupid buggers actually "invested" money. Some still believe they will be paid back with interest.
What are you talking about? I have not heard of any proven Bitcoin-based Ponzi schemes. I suppose the operator of that nonproven Bitcoin-based Ponzi scheme needs to come out and sue for libel. Dare ya! |
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hgmichna (OP)
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July 04, 2012, 08:28:03 PM |
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What are you talking about? I have not heard of any proven Bitcoin-based Ponzi schemes.
High time. How about obvious? |
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mollison
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July 04, 2012, 08:33:50 PM |
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What are you talking about? I have not heard of any proven Bitcoin-based Ponzi schemes.
High time. How about obvious? To be clear, the reason I called you out in the first place is because It is a serious breach of ethics to claim that you know something you don't know. |
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mollison
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July 04, 2012, 08:36:33 PM |
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I suppose the operator of that nonproven Bitcoin-based Ponzi scheme needs to come out and sue for libel. Dare ya!
You're just being juvenile here. You are not going to earn any respect if you end up being right, because of the unprofessional way in which you are going about warning people. BTW, I won't respond further in this thread. |
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drakahn
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July 04, 2012, 08:37:57 PM |
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I've always had an issue with the "3300%" per year figure... It only makes sense to bring that up if the program claims that it will run at 7%/week for a year with unlimited redepositing... and I doubt it will (Personally I think pirate is legit, but all wells run dry)
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14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
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Vladimir
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July 04, 2012, 08:39:48 PM |
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He might have chosen not the best word "proven";
BUT
It is not unethical to do risk assessment and with that particular "investment" the risk is HUMONGOUS.
It is however extremely unethical and most likely unlawful and maybe even illegal to promote to newcomers an investment schemes which any reasonable person shall consider as a potential scam and probably a ponzi scheme.
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Vladimir
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July 04, 2012, 08:40:15 PM |
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These posts will never end will they?
no, they won't |
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hgmichna (OP)
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July 04, 2012, 08:44:02 PM |
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I've always had an issue with the "3300%" per year figure... It only makes sense to bring that up if the program claims that it will run at 7%/week for a year with unlimited redepositing... and I doubt it will
So you think 100% per year would be more credible? Or 1,000% per year? Tell me where you last actually got 10% per year (except in the early stage of a Ponzi scheme). (Personally I think pirate is legit, but all wells run dry)
Now that's an interesting statement! Why do you think that? |
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hgmichna (OP)
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July 04, 2012, 08:45:21 PM |
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These posts will never end will they?
I guess they will end soon—along with the Ponzi scheme itself. |
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CharlesPonzi
Member
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Activity: 98
Merit: 10
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September 19, 2012, 11:42:35 AM |
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These posts will never end will they?
Ponzi never dies. |
I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me.
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wannabitcoin
Member
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Activity: 73
Merit: 10
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September 19, 2012, 06:36:23 PM |
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Donations are accepted:
BTC: 1NCrF3F6S6T511dedU1puWXhs1bEVmLuY8
LTC: LPksBuKVNWvLaiBKG4wDDCF3fqrQoTL7Sg XRP: rLubad3VQxaeT6qk43jEGPJX7ADkMBkwTM
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Perry
Newbie
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Activity: 7
Merit: 0
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September 21, 2012, 02:09:15 AM |
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Hehe, its better to invest in stazi-retirement-funds:
Minus 5 - 10 %
AND
a Ponzi Scheme
Only trust your BTC savings (and maybe metal)
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