The Low Down on Ponzi Schemes

[fox19891989]

The people defending ponzis will tell you it's a game not a scam because the implied fact you will lose money is part of the gamble.

Also there WILL be 'investors' who know all these facts and still want to double their holdings overnight, ignoring everything they know.

As I read somewhere on this forum, the world never runs out of fools.

Those "investors" deserve to lose money because of silly and greedy.

[sorryforthat]

Very nice bit of info. Love a good post that I can take something away from. The sad truth about bitcoin ponzis or the ones that we have seen more recently is that they blatantly call it a Ponzi and everyone goes in with that knowledge from the start.

[michinzx]

Wow, $65 Billion... This shows how easy it is to fool anyone [...]

What amazes me is that the biggest scammer of them all was former chairman of NASDAQ and he survived 6 SEC investigations.

people still cant see that those schemes are the same as these ponzis popping up looking for "investors"

[DoubleTrouble]

I still think some of the ponzi games such as what are being run at the moment in the gambling section should be allowed.. xD

[gkv9]

I still think some of the ponzi games such as what are being run at the moment in the gambling section should be allowed.. xD

Agreed... But not at the cost of harming people's investments, their hard earned BTC...
I know that ponzi's ponzi, and in the end, it's the people who will lose their investment, and it may sound silly, but ponzis must be allowed based on the betterment and upgrade they will add into them so that instead of more people lose, more people gain... Here, the more people gain the better...

[Brewins]

At least the ponzis here say that they are ponz(well, at least the ones in gambling section). I think your post would be good in the cloud mining section, if we had one.

And I never thought someone would be able to ponzy $65 B(!) and escape 6 SEC investigations.

[lumen]

lots if poinzi thread  in gambling section can mods make extra sub form in games and round section poinzi = scam

[Stratobitz]

The people defending ponzis will tell you it's a game not a scam because the implied fact you will lose money is part of the gamble.

Also there WILL be 'investors' who know all these facts and still want to double their holdings overnight, ignoring everything they know.

As I read somewhere on this forum, the world never runs out of fools.

Some gamblers will know the risks of "investing" in these schemes, however most do not. Also the gamblers that do know the risks do not know when exactly when the operators of such schemes will run away with gamblers' money.

At the end of the day these ponzis are only giving bitcoin a bad name and are unfair to players. I think I am going to stick with provably fair sites for now

A Ponzi is not a game. Ponzi's are a type of "Fraud".  Fraud is a crime. Calling a crime by another name does not eliminate the crime. I could say we're going to go play a game called "Robbing Banks".... well I'm sure you get my point.

Strato

[uki]

THIS IMAGE IN EVERY PONZI THREAD

GO GO GO

that is a great idea. I will post the link to this thread in every new ponzi scheme, so that people can read about it.

[dsyahputera]

Um, how about threat the people so they didn't want to make any ponzi? People make ponzi because they want to fraud the investors, don't just ban their account, but threat them!