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Author Topic: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"  (Read 107970 times)
nckrazze
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July 29, 2012, 01:52:14 AM
 #121

Pretty sure Micon is a puppet for that guy who has the huge bet on Pirate defaulting.

Sounds about right.
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July 29, 2012, 02:08:03 AM
 #122

Pretty much any mining bond/stock on GLBSE pays out 1.25-2.5% per week. Are all of them scams as well?

mining is an actual business unit that makes money.

however, mining bonds or stocks that pay 2% weekly interest are also unsustainable, and likely scams.  Link me to any and I'll give you my thoughts.  
XMh/s perpetual mining bonds decrease in value as the network hashrate increases and new mining tech becomes available.  1-2% a week is reasonable when it is backed by real hardware and the principal is gradually decreasing in value.

Pretty sure Micon is a puppet for that guy who has the huge bet on Pirate defaulting.

Sounds about right.
Funny how the people with enough common sense to call out 7% weekly returns are labelled puppets...

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July 29, 2012, 03:55:57 AM
 #123

Either way, Ponzi schemes can be very profitable. I don't think there is anything unethical about gambling with a Ponzi scheme.

Do you find anything unethical about early adopters defending Ponzi scams so that more people buy in (so that they can get out before it disappears)?

Do you find anything unethical about running Ponzi schemes, and trying to get as many people to buy in before you skip town?
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July 29, 2012, 04:23:55 AM
 #124

Either way, Ponzi schemes can be very profitable. I don't think there is anything unethical about gambling with a Ponzi scheme.

Do you find anything unethical about early adopters defending Ponzi scams so that more people buy in (so that they can get out before it disappears)?

Do you find anything unethical about running Ponzi schemes, and trying to get as many people to buy in before you skip town?

As long as people understand the risks, then no.  There is nothing unethical about it.  Just like there's nothing unethical about encouraging people to play slot machines.
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July 29, 2012, 05:26:48 AM
 #125

You missed one, Micon.

https://bitcointalk.org/index.php?topic=96163.0

Go get him, boy!

tytyty / added / please link me all, and I mean all of these things.  I'm extremely determined to make a complete list.  I will need help with the GBLSE pass-through bonds and shit.  A complete list of anything pirate-passthrough is going to be a good place to start.

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July 29, 2012, 05:28:54 AM
 #126

Pretty sure Micon is a puppet for that guy who has the huge bet on Pirate defaulting.

Sounds about right.

seem to be batting 1000 with Ponzi-scam runners saying I am only doing this to help a guy with a huge bet that the Ponzi will fail.

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July 29, 2012, 05:30:23 AM
 #127

You missed one, Micon.

https://bitcointalk.org/index.php?topic=96163.0

Go get him, boy!

tytyty / added / please link me all, and I mean all of these things.  I'm extremely determined to make a complete list.  I will need help with the GBLSE pass-through bonds and shit.  A complete list of anything pirate-passthrough is going to be a good place to start.
Just take my tip and add the whole lending subforum to the list. There's essentially no lenders/borrowers that offer less then 1% a week here.

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July 29, 2012, 06:11:09 AM
 #128

I found a good one:

https://bitcointalk.org/index.php?topic=87934.0

And another:

https://bitcointalk.org/index.php?topic=94900.0
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July 29, 2012, 06:19:39 AM
 #129

11) a good list of ponzi's, pass-throughs, and other scams I may have missed  --> https://bitcointalk.org/index.php?topic=81542.0

I see you listened to the community and successfully added every single depositing service as one of your, "List of Ponzis". I will take this as your official decree Lord Micon, and I vow to withdraw every penny I have deposited with these scum investors, for your word is the law that dictates my every action.
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July 29, 2012, 06:45:44 AM
 #130

11) a good list of ponzi's, pass-throughs, and other scams I may have missed  --> https://bitcointalk.org/index.php?topic=81542.0

I see you listened to the community and successfully added every single depositing service as one of your, "List of Ponzis". I will take this as your official decree Lord Micon, and I vow to withdraw every penny I have deposited with these scum investors, for your word is the law that dictates my every action.

hi scammer.

1)  it also shocks me that there are so many.  just because the list of scams is long doesn't mean they all can't be scams.

2)  you are running a shameful scam.  please return what every of your "investor" money you have left and do not scam please

3)  BDT added to list / starting on GLBSE instruments -- https://bitcointalk.org/index.php?topic=93445.0   another 3% / wk like it's easy.  

Please guys, list me all of these, and I mean all of these in any subforum, on any exchange, etc.  We must do this for the betterment of bitcoin.  If any operators of these "investment" funds can show me any proof of doing any sort of business that could sustain these yields by all means start embarrassing yourself.  Any operator or proponent of these scams is welcome to call me on my podcast and debate me live. 

Chairman SwCPoker.eu Bitcoin Poker 2.0 |  Pro Poker Player  |  blog & podcas DonkDown.com | @BryanMicon | 2015- PGP Key
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July 29, 2012, 06:48:37 AM
 #131

Either way, Ponzi schemes can be very profitable. I don't think there is anything unethical about gambling with a Ponzi scheme.

Do you find anything unethical about early adopters defending Ponzi scams so that more people buy in (so that they can get out before it disappears)?

Do you find anything unethical about running Ponzi schemes, and trying to get as many people to buy in before you skip town?

As long as people understand the risks, then no.  There is nothing unethical about it.  Just like there's nothing unethical about encouraging people to play slot machines.

I fully agree that ponzi schemes should be allowed to be run.  We as a BTC community should categorize them correctly.  "lending" is not what I or any reasonable man of science would call this. 

Further more, who runs this board? 

why can Pirateat40 lock his giant ponzi thread?

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July 29, 2012, 06:49:30 AM
 #132


miscreanity
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July 29, 2012, 06:54:06 AM
 #133

You should preach the almighty word of shame to Mongolia!

Their banks offer 1.33% monthly in the traditional financial markets. That's up from about 1% last year!

Normally, I wouldn't say this, but your sheer idiocy is well beyond normal... GTFO Micon, you tool.
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July 29, 2012, 07:02:36 AM
 #134

You should preach the almighty word of shame to Mongolia!

Their banks offer 1.33% monthly in the traditional financial markets. That's up from about 1% last year!

Normally, I wouldn't say this, but your sheer idiocy is well beyond normal... GTFO Micon, you tool.

Do you realize you just made my point in spades?

the whiskeyandgunpowder article is about an insanely high YEARLY interest rate of 16%  - Pirate and similar ponzis are only offering 200x more interest than that


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July 29, 2012, 07:04:56 AM
 #135

"lending" is not what I or any reasonable man of science would call this.  
You call yourself a man of science yet you provide no  hard proof? Not sure if serious  Roll Eyes

Quote
Further more, who runs this board?  

why can Pirateat40 lock his giant ponzi thread?
It's his thread, he can do whatever he wants with it (and so can you with yours)

Furthermore this whole thread should be moved to speculation  Roll Eyes
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July 29, 2012, 07:17:57 AM
 #136

[
You mention business units that profit money to theorize how a business could pay 2.5% weekly interest on money - but if such a profitable business unit existed, say, you could buy something for $.30 and sell for $13 - would you take on investors and share the wealth?



Yes, If I had no money to invest - why not?... 

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July 29, 2012, 07:28:44 AM
 #137

You should preach the almighty word of shame to Mongolia!

Their banks offer 1.33% monthly in the traditional financial markets. That's up from about 1% last year!

Normally, I wouldn't say this, but your sheer idiocy is well beyond normal... GTFO Micon, you tool.

Do you realize you just made my point in spades?

the whiskeyandgunpowder article is about an insanely high YEARLY interest rate of 16%  - Pirate and similar ponzis services are only offering 200x more interest than that

No, it doesn't make your point.

The returns are coming from an economic environment that's growing several orders of magnitude faster than Mongolia's. Moving money is a lot faster than moving machinery. Same principle, different assets. The smaller an economy is, the more growth it can incur and the faster that growth can happen.

If the SDR were introduced from zero, not being valued from a basket of currencies as it currently is, and adoption forced upon citizens by their respective governments in place of domestic currencies, the growth rate would be much greater than Bitcoin's current ~30% per year, and the returns from investment schemes would be far greater than a paltry 7% per week.

Of course, that would burn itself out very quickly. As I've said before, what Pirate is doing can last as long as Bitcoin itself continues growing.

The first year growth rate for Bitcoin was 100% - wrap your brain around that.
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July 29, 2012, 08:05:59 AM
 #138

Now I'm going to start feeling sorry for Micon.  I must be very stupid (as he noted above) and he is turning into a parody of what he vainly tried to prevent.

(yes - this is as close as I get to trolling - but this has turned into one of the more entertaining threads in my household.  i should get MNW and Phinneas to look in, or even LouxGaroux for some more serious dissection of the thread.)

Must be a real pain in the arse to realise that real economic activity can deliver 2%/week or more.  On that basis, Micon shouldn't be in the bitcoin world at all.
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July 29, 2012, 08:12:00 AM
 #139

Now I'm going to start feeling sorry for Micon.  I must be very stupid (as he noted above) and he is turning into a parody of what he vainly tried to prevent.

(yes - this is as close as I get to trolling - but this has turned into one of the more entertaining threads in my household.  i should get MNW and Phinneas to look in, or even LouxGaroux for some more serious dissection of the thread.)

Must be a real pain in the arse to realise that real economic activity can deliver 2%/week or more.  On that basis, Micon shouldn't be in the bitcoin world at all.

One way to look at it is that government red tape costs 30% a month so you are only left with .01% in the traditional finance sector Smiley

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July 29, 2012, 01:44:58 PM
 #140

[
You mention business units that profit money to theorize how a business could pay 2.5% weekly interest on money - but if such a profitable business unit existed, say, you could buy something for $.30 and sell for $13 - would you take on investors and share the wealth?



Yes, If I had no money to invest - why not?... 


Yeah, this might make sense for someone without access to credit--for a couple months. But why take in increasing amounts of money after you've turned it over a couple of times in your fabulously profitable scheme?

Again, the question is not whether someone can get that ROI. People do it all the time. The question is why someone would pay so much for credit (unless they're trying to attract as much as they can before disappearing).
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