How to recognise a ponzi scheme

[zyk]

Great how bias works - try this.

Indeed. You need to check YOUR bias. And BTW nice try taking things out of context.

Why do not you disclose your motivation for lying to public like that here? I would also suggest to check dictionary definition of FRAUD and see if it would maybe apply here. Ohh I'll help ya.

In criminal law, a fraud is an intentional deception made for personal gain

High investment returns with little or no risk  --> Nope, huge risk it might all dissapear at a moment's notice.

O Really! Why would it dissapear at moment's notice when Pirate claimed or implied so many times that it is not a ponzi and that all the money will be returned to investors both capital and interest?

FAIL

Unregistered investments. --> Not anonymous, simple internet search reveals more than enough information.

FAIL

Issues with paperwork.  --> No. No paperwork, no issues, but he keeps meticulous records.

Right. I am sure in the context SEC by paperwork meant something else than an accurate tally of who put how much money in. A simple google search would reveal what mentioned "investment prospectus" means, for example.

FAIL

3 out of six and two other "hits" are not uncommon in legitimate businesses with "unlicensed" typical of bitcoin.

BULLSHIT!

The SEC is watching porno movies and not reading bitcoin magzines yet

Cheers Zyk

[Technomage]

Important thread. This fiasco we had with BTCST needs to become a prime example and people need to become more active in saying it out loud if they think something is a scam. The Wikipedia article needs to have something on this as well. Bitcoin is especially useful for ponzi operators so this needs special attention.

Of course we can't really get rid of these until we get rid of human greed, which might prove to be a quite difficult task. But what we can do is at least take a more active stance against scams and try to teach people as best we can. That's all we can do, and hope that people get smarter.

[zyk]

Important thread. This fiasco we had with BTCST needs to become a prime example and people need to become more active in saying it out loud if they think something is a scam. The Wikipedia article needs to have something on this as well. Bitcoin is especially useful for ponzi operators so this needs special attention.

Of course we can't really get rid of these until we get rid of human greed, which might prove to be a quite difficult task. But what we can do is at least take a more active stance against scams and try to teach people as best we can. That's all we can do, and hope that people get smarter.

No, we can define trust as our most valuable asset and prosecute those, who are proven to have destroyed it and are still destroying it in any way.

Letting them ride in the sunshine scott - free, is being complicit to cover up ppl who are too stupid, too negligent, too lazy, too evil or too ignorant to be entrusted

with other peoples coins.

Cheers Zyk

[cbeast]

"Long story short, we hear a story too good to be true... it ain't." - Lt. Aldo Raine

[zyk]

"Long story short, we hear a story too good to be true... it ain't." - Lt. Aldo Raine

No again ! This will be a never ending story, when even moderators are complicit in sweeping everything under the rug !

Scammers and those abetting them, deserve at least a scammer - tag, or how long will you try to play hide and seek

behind your ridiculous groupthink, that facts should be ignored when compared to "moderators evidence"

Heroesk really

Cheers Zyk