Topic: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending" - page 60. (Read 119665 times)

Okay, I re-read the contract now, apparently I misread 2013 as 2012 the last time. You have a point.

All I'm saying is, if it's that important, there are other options to explore than Occam's razoring the forums.

Do you have a source for that almost guarantee?

This won't get you anywhere and will result in the rehashing of the good old "debate"s. I'm not saying you're wrong, but it really isn't helping in any way. Quite the contrary, it's making both sides more rigid.

If you really care about the situation, you could do something like what I proposed. Even if it's not successful, it has research value. We need such investigations in other areas as well, and it would be cool to see how far bounties can take us and what kind of difficulties it might bring (it could also have negative consequences, e.g. unnecessarily disrupting business or exposing private trade information, which probably should be restricted by contest terms). For some perspective, AFAIK someone got into a bet with pirate for 5000BTC, and it's almost guaranteed that he will lose. Imagine a quarter of that 45000 USD were spent on an actual investigation by professionals.

I am not making allegations of anything ,i honestly dont know if it is or it isnt

You seem to know for sure its a scam  ,i think you should provide proof ?,not me

I've been wondering about Leandro Cesar's Brazilian "Investment Group".
https://bitcointalk.org/index.php?topic=46750.0;

He recently got into a bit of trouble with the Brazilian regulatory authorities (for not having a license, not for any evidence of ponzi).  Though it looks like he is planning to keep it going.
https://bitcointalksearch.org/topic/2012-07-25-various-regulator-hits-brazillian-bitcoin-investment-group-95399

What do you think?

Has all the attributes of one: rejecting large deposits early on that would unbalance the scheme, nonexistent and/or incoherent hints about his business model, bonuses for large deposits, early adopters promoting others to join the next level of the scheme, voracious appetite for more capital as the scheme progresses--even though by now he would have made even more money himself if is claims are to be believed.

None of this is consistent with a legitimate investment. The better question is whether you have any evidence, let alone proof, that there is such an investment.

Come Bryan, dont pussy out now.

Respond to my post regarding FACTS about you and your dealings and not pure speculation as you have put forth in this thread.

You sir are an poker community outcast simply due to your ability to act and scam like a retard wherever you go and then getting scammed because you were oozing puss of greed.

Yes, I would. A. It's not wise to risk all of my capital in a single venture - any smart investor knows that B. I would need to bring in additional revenue to fill orders, and if my volume keeps increasing, I would need to keep doing so and/or expand my offering of stock to clients.

It's not unlimited, and I wouldn't offer it at 7% (because I like my money), but to some people, it's worth negating taking all of the risk for that. After all, if you can earn a two dollars for every clip sold and take little to no risk, compared to 12~ profit per clip and taking all of the risk, which would you choose?

Nice comparison you have there.

The truth about the world banking sector is allready out but then again you only look at a deck of cards 24/7 so you clearly have no idea about the LIBOR scandal, HSBC scandal etc.

SEC is non-existing, its bought and paid for by the banks so they can self regulate themself(non-regulation) and if you still think the world is run by those who offer a service(banks) and monitored by capable indepdent SEC offices then sir you have no fucking idea whats going on in this world.

Its time for you to spend atleast 10% of your gambling disease time and find out whats going on in the real world, there is NO REGULATION and it allready crumbled, please note $4.6 trillion missing pension funds due to LIBOR scandal and this is slowly affecting every country.

I have some wisdom for you, first educate yourself before you have the nerve to try and educate others.

Here is a fun read about Bryan Micon: http://forumserver.twoplustwo.com/29/news-views-gossip/bryan-micon-rolled-12k-o-town-singers-buddy-19295/

This was one of the GEMs of the quoted forum post made by Bryan Micon on NWP:


LMAO!!!!


Just to give you an idea, Micon launches a training site to teach people how to win SNG's but at the same time look at his SNG track record just before launching the site? Micon isnt even a clever scammer, just play retarded.


Thats how Micon got scammed, he paid someone 12K cause the guy told him he would get 100K back the day after ie. Micon was happy to invest 12k for 24hrs in return looking for ~833% Interest. Legendary Micon, you go champ of scam detections.

http://www.youtube.com/watch?v=x-mBUA-uUDM  -> Priceless, total douche and perhaps an Phil Hellmuth impersonator since he cant stand on his own 2 sticks.

http://www.youtube.com/watch?v=OdpuTMY6yMU -> Must watch, self proclaimed superstar opens his heart over his own absolute karma-based stupidity. Yes Bryan this is what happens when you scam others out of their money selling pokerbooks with a losing poker playing history on the subject you are training ie. SNG.

The worst thing possible for the bitcoin poker industry is to get Micon involved up front, he will fucking destroy all hope for it.

How do YOU  know there is no business unit  behind it ?
Do you have any proof that pirate is NOT  making profit  from trading or other means  like he claims to be ?

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?

btw Bitcoin Savings & Trust has no such business unit - or no business unit at all - it is all based on deposits to keep the scheme going.  There is a constant flow of depositors that hopefully > constant flow of interest payments, as soon as that balance is negative the operator stops paying.  That's how these work... for over a century. 


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

I'm still waiting for a response to my response on what you stated about .5% weekly interest to 2% weekly interest.

i understand you are running a derivative of BCST, and you feel good about your large customer base.

they will not feel so good about you soon.  You are helping spread a ponzi scheme.  Your actions are shameful and you will see this only after the big collapse. 

It won't be long.  Weeks or months likely.  possible to get most of a year if you can get aggressive investment, but that doesn't seem likely now.

I didn't see where I was defending a set of HYIP products, but the principles applied at corporate or local level still apply when considering the ability of a deposit taker to pay back your money.  Thus, it is useful to understand the liquidity of different issuers.

If they are ponzi schemes by design or accident, or some other mechanism for parting people from their hard earned funds, the point that we both agree on is that people need to do their due diligence on different offerings.  I reinforce that point often.  It is also the case, that people chose different products/schemes to invest in and there are definitely some things I steer away from, and others that I an comfortable investing in given the risk/reward payoff.

It would be interesting to see, in your OP table, the degree of proof that goes with each scheme (and listing out all of the Pirate Pass-through products isn't really necessary as the key-stone there is Pirate himself.)  

and the ponzi schemers never tell you what is behind the scenes.  Without having read most of them, and with BCST being the largest it appears, can I bet that they claim to be "trading" or "investing" behind the scenes?  what business other than extremely large scale drug sales could yield such staggering results?  do you believe a website with nothing more than a login, password, and a hash to deposit and withdraw has such an amazingly profitable business unit and they unselfishly want the entire BTC community to profit with them?

no, they are all scams.  very small % at the top will profit.  do not assume you will ever get back your initial investment, the interest most of you earn will be a fraction of what you put in when they all finally go busto. 

Although, it will be fun to watch them go busto and bet "correct" - but I will feel bad for the ppl that lost BTC learning their lesson the hard way.  Most of the BTC'ers I've talked to on Seals have been young kids, and I felt that most middle aged or older people would be smart enough to spot these easily.

Sir,

your defense of the BTC ponzi industry, which will crumble in a relatively short period of time, is dead wrong.  You mention principles of Standard and Poors & corporate credit ratings in the same thread as BTC ponzi schemes - you are comparing financial ratings based on balance sheets of multi-national corporations whom have to adhere to SEC accounting laws with what amounts to nothing more than a scamming lemonade stand on the internet

what more proof do you need that a business with absolutely no business function?

Actually, I did not say that.  I commented that I did not view being a poker player as a good credential for giving financial or investment advice.  I was also interested in the irony between poker and a claimed ponzi.

I know (and have worked with ) people sufficiently skilled they could have quit their day job and simply played cards for a living.  I would expect anyone that put reasonable time into something would be good at it, and the people who are less committed will, on average, do worse.

If you can't figure out how a currency exchange works, you probably are not a brilliant fund manager.