Topic: First-Hand telling of an online Ponzi: Eve Online's Currin Trading (Read 8026 times)

I can't believe people try to make money in EVE by investments when corps exist in nulsec.

You really don't need to participate in potential scams to get ahead in the game, those are for suckers. Get into a good corp and they'll take care of you. They'll outfit you with ships for missions because they value the strength of numbers. The best ones all ask for application fees before you can join, but once you're in, you're set for life. You'll be making more cash from ops than you ever thought existed in the game, you'll never have to pay for game time again because you'll be able to buy PLEX.

P.S. This was a great read, OP.  Thanks for sharing.

That's actually a misconception, since if you are a producer you can earn the exact same money over and over again as it circulates through the economy.

The "compound interest paradox" functions only on the assumption that all money is only spent once.  It is a farce.  Even if I borrowed $50,000 in an economy with $100,000 of total money available, I could earn that 50 times over if I produced enough.  Not saying I'd like to work my balls off like that, but it can be done, and that's the point.  The compound interest paradox is something touted by greenbacker "debt-free" money crazies who want to hand the printing press over to the political class directly, instead of the central banks, who are beholden to the banking system (you only get HIGH inflation from central banks, hyperinflation only comes from the political class because it wipes out the banking system, too).

Under hyperinflation, a farmer walks into a bank and pays off the entire nominal loan on his acreage and operations with a few flats of eggs.  The bank is done.  This does not happen with central banking and the current monetary setup we have here.  25% inflation annually for a while, sure - wipes out the middle class, takes the load off of the biggest debtors (banks and governments), and transfers wealth up to those who own the most non-financial assets.  Banks are also the biggest creditors, and creditors get destroyed by hyperinflation.

You could have at least read the whole thing before looking like a tool.

if pirate is not coming up with the right or at least some kind of compelling story....where even the contra PPT crowd

likes to work for...bitcoin community could get this going in no time..... if not all schemes collapse..

and i could buy some coins on the cheap

While I hope Bitcoin continues to grow and succeed, I would hardly consider it the world reserve currency with such a low marketcap right now. Maybe in time.

every intrest accureing currency system is a ponzi thats not oraceling thats a fact

but management is important.......peer to peer busts sombody at helm either way

Zyk the Oracle speaks again!!

i think its an awfull read.......and kindergardenlike ...by comparison to pirates accomplishments and turnover!

if thats the base he is accused off , then we should built him a monument
for delivering a 5 times better run ponzi......and he is far far ahead ...as if somebody could hit the treasure this way.

Correct is  that he hasn´t construed a compelling story yet and if never being able to do so, the scheme may collapse

earlier than it need to . Now is the time for the real story and that is: bitcoins are the new world reserve currency....

fuck your dollars, euros, renminbis......everybody..of course the criminals first want their assets move to bitcoin...

pirate is meeting the chinese tycoons, the vegas multimillion dollar gamblers, the frustrated savers all around the world,

bitcoinmax is available in every thinkable language, Mugabe is asking for an bitcoin exchange and the nigerians want to buy on ebay as well......

1 quadrillion dollars shadow banking liabilities.......verses 21 million bitcoins......God helpme...7 % weekly growth is a pittance

It has been many years since I have read this. Thanks for the link. It was just as interesting of a read this time as the last.

Excellent read, but this is still considered "small time" in eve online.

The largest was a few years back when someone created the "Eve intergalactic bank"

Ran off with 700+billion and that was valued at $190k usd or so.

http://www.tentonhammer.com/node/34217

If you want to check out eve online, remember to buy PLEX off me

This should be stickied under Lending.

Thanks for posting this. If the moderators had any sense of decency, this thread would be stickied in every subforum.

I understand the risk there, but I personally wouldn't be looking for specifics. Something like "I'm turning over real estate", or "My clients invest the money to sell baked goods." Even "I'm mixing coins" would be something, but not too much of something to threaten his model.

Even bitscalper at least claimed to have a high-tech arbitrage bot.



Yes, I would personally want to know, as it might affect my decision to invest (not everyone is willing to just do anything to make a buck, so long as they can't be held liable.)

Frankly, if the returns come from something like that, it's a bad, bad idea to solicit investors from a public forum anyway, for any number of reasons. One being the possible fallout on the forum community.

YES, as it would be exposing me to additional counterparty risk of having my assets frozen.

Although at the same time, if they DID tell you exactly what they were doing, what would stop you from doing the same and cutting them out?

And furthermore, what if they were doing something illegal to get that return, and only by not telling you were you protected from liability? There are a couple 'investment funds' running around that I suspect aren't ponzi's but rather money laundering. Would you really want to know it made you an accessory to a crime?

Virtually all the HYIPs are Ponzi schemes.

Of course I posted it because of the extreme analogies to "Bitcoin Savings and Trust". This is very relevant to Bitcoin right now.

Epic story, this is movie material

This is an interesting psychological discussion...but I don't see anything about BTC. Should this be moved to one of the general off topic boards? Or maybe just a pirate hating board? Can we make a special one of those?