Quote
"Pirateat40" Makes Off $5.6M USD in BitCoins From Pyramid Scheme
Bitcoin investors fall for classic Ponzi ploy
Jason Mick
2012-08-24
http://www.dailytech.com/Pirateat40+Makes+Off+56M+USD+in+BitCoins+From+Pyramid+Scheme/article25538.htm
Bitcoins, everyone's favorite quasi-legal internet currency, are still lingering around thanks to strong support from the hacker, future, and technopunk communities.
...
And of course, the onus for these losses largely rests on those who sent someone named "pirateat40" actual money, and failing to recognize the classic signs of a Ponzi scheme -- inflated interest rates, shadowy management, and unrealistic promises.
Bitcoin investors fall for classic Ponzi ploy
Jason Mick
2012-08-24
http://www.dailytech.com/Pirateat40+Makes+Off+56M+USD+in+BitCoins+From+Pyramid+Scheme/article25538.htm
Bitcoins, everyone's favorite quasi-legal internet currency, are still lingering around thanks to strong support from the hacker, future, and technopunk communities.
...
And of course, the onus for these losses largely rests on those who sent someone named "pirateat40" actual money, and failing to recognize the classic signs of a Ponzi scheme -- inflated interest rates, shadowy management, and unrealistic promises.