Topic: Bitponzi.io - fair ponzi with automated hourly payments, 150% in 150 hours. - page 8. (Read 10167 times)

Is it then gambling or a game of chess? Or maybe an investment after all? Those are just name tags, doesn't really matter how you call it. The important element is the underlying structure. It's not the "how we call it", it's "how it works".

Why do you think "prospectors" do their best to hide the fact that they run a Ponzi? Why do they create a shiny layer on top of their "operation". Why don't they simpy say that they run a financial pyramid?

http://en.wikipedia.org/wiki/Madoff_investment_scandal

Why did Madoff's pyramid fall? Because of the SEC stepping in? Do you think that his faith would be different if he would say at some point that he runs a Ponzi scheme? Even if it was legal?

Please notice one point that makes you different from Madoff, his yearly return from what I remember was at around 10%, your return is 50% in 7 days. It's a huge difference, and he still wasn't able to sustain the pyramid.

I like this project as I would brand it an experiment. I am really curious how it plays out, you really should consider promoting yourself somehow. The reason for calling it a pyramid is that you need a proportional increase of money flow from newcomers to pay to the oldcomers, and then evenly more inflow from newercomers to pay the previous newcomers:) but you already know that. Mathematically, odds for sustaining this pyramid are not on your side, but if you persuade gamblers that this is a gamble and that they can win as long as they decide to play, who knows, maybe this scheme would finally work and it could be named after you As always, best wishes to everyone.

So if its a gamble, then wouldnt it be better to just to lose at an actual bitcoin casino.

Where I can make possible returns, then just hoping I would get one? lol.

Yes you are right All ponzi's are just gambling. If you think otherwise you are delusional.

'if they do it right',  'a new cycle can begin with fresh deposits'.

All wonderful justifications for a ponzi scheme by the people supporting it.  All ponzi schemes fail because 'they didn't do it right' and 'the idiots stopped pumping money into it, therefore it's the investors' fault!'

I actually like the system. If they do not decide to run away with the money (which I wouldn't do because of the 1% unlimited cashflow) the system should keep going till theres no new investors joining the program.

Well, sure there will be such posts sooner or later, we hope later, much later. talking about several months later. But if it gets stuck it can also get unstuck if there's new funds going into the system
What I mean by reducing the chances of getting stuck by making frequent payout is you make cash flows much smoother this way. If we tried to pay the whole 150% in one payment the payments would become highly irregular, which would effect the stability of the system of course.

Botomline: We want to turn Ponzi's into pure gambling. With dice games you need to make them "provably fair" to bring transparency, with Ponzi's all you need is blockchain.

Yeah exactly. What he said!

Check the blockchain, you always know how much is left in the bitponzi fund.

https://blockchain.info/address/1PoNzi7PGzRyvc9KWYBcaauS3oeJqa5vFg

Right now, there's 1.34231128 BTC left to make payments with.  If they do it right and wait until it gets wiped out to 0 to stop making payments, a new cycle can begin with fresh deposits.  You might be surprised how long a cycle can last.

It's not an investment anyway, it's a gamble.  I deposited a little over the 0.005 BTC minimum, if I get in early on the next cycle I might risk a whole half a bitcoin like a couple of depositors have done this cycle.

What do you mean?  A ponzi scheme is guaranteed to become 'stuck' when the number of suckers drawn into the system isn't enough to pay out the early adopters.

I look forward to the numerous 'umm, the payments have slowed and then stopped, you guys sure it's still working, I haven't got my investment back yet' posts.

Yes, effectively you have to wait at least one hour, taking also into account the confirmation time for your deposit.

Do the payments get made every hour on the hour? Like in 2 minutes it will be 1 am where I'm at, will I get my first payment then even though my deposit was made at 12:30 am, or do I have to wait over an hour to get my first payment?

Edit: In checking the blockchain, it looks like you always have to wait one hour minimum before you get your first hourly payment.

Thank you for checking us out, as in any ponzi scheme earlier investors have higher chances to make money
But actually our cycles are short so the risk is quite low at the moment.

To everyone looking at this, I have dipped my toe in the water.

I sent .008 btc yesterday. Since then I have been getting .00008 btc back in my wallet every hour. I don't know how long this will last, that's the gamble.

In my calculations I will break even in 4.16 says (.008/.00008 = 100 hours)

We'll see what happens from there.

Happy gambling everyone!

We are a Ponzi gambling system offering automated hourly payments. We do not invest, gamble, or otherwise use your money other than to pay it to the previous depositors. 1% of the deposited funds goes for system maintenance.

 
Minimum deposit: 0.005 BTC. Use Blockchain.info wallet or desktop Bitcoin clients. If you don't get payments contact support

Payments are processed hourly, you get 1% for 150 payouts.  That is your total profit is 50%, like in original scheme by Charles Ponzi.

This is pure gambling so don't risk coins you can't afford to lose. Analyze the cashflows and current system balance using blockchain.info to make intelligent deposit decisions. Promote the program to get it going forever. We pay hourly which reduces the chances of the system getting stuck.