How can I spot Ponzi schemes? | Bitcointalksearch.org

mrcash02

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Quote from: South Park on February 26, 2017, 12:35:16 PM

Quote from: LittleBitFunny on February 14, 2017, 11:02:49 AM

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive. Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

Cloud mining sites are not appealing they are appalling, and the simplest way to know if a site is ponzi is to see if the returns are way better than anything you could get, the website looks unprofessional, there are not phone numbers you can call or a physical address, there are lies in the web page, and there probably more signs to identify a website as a ponzi.

It's good to check if there is a phone and local address, but it's not sufficient. When the investment site show you an address, try to find it on google maps or any other app. The address can be fake and doesn't exist in real life.

HashOcean did it. They had phone number, address, but all fake. The legitimacy of site owners is important too, look if they are reputable persons in Bitcoin businesses area, possible to know it when they are members of BitcoinTalk Forum.

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Quote from: LittleBitFunny on February 14, 2017, 11:02:49 AM

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive. Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

Cloud mining sites are not appealing they are appalling, and the simplest way to know if a site is ponzi is to see if the returns are way better than anything you could get, the website looks unprofessional, there are not phone numbers you can call or a physical address, there are lies in the web page, and there probably more signs to identify a website as a ponzi.

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Quote from: Skarner21 on February 26, 2017, 11:05:24 AM

Quote from: lol3c on February 26, 2017, 10:02:04 AM

Quote from: Gotottack on February 26, 2017, 02:22:38 AM

Quote from: gabbie2010 on February 26, 2017, 02:02:58 AM

Ponzi schemes are identified by always promising a very high ROI at times this is so high that gullible falls as easy prey, So we should be very careful not lose our hard earned money Some Ponzi scheme will collect money and disappear.

Not really, there have been ponzi schemes that offered low rates and showed some sort of proof that they are working to give their investors some return, but in the end after months or even years of collecting deposits they still ran away. If it is well made, there is a chance that no one can detect that it is a ponzi, regardless of it having low rates.

well, if the website offer your about more than 100% a year, it is certain that they are all scammers who want to steal our money. 20% per year maybe a ponzi scammer too. You have to do a lot of analysis if you want to make sure whether it it ponzi or not. However, your money is your money, do not invest your money in some places where you can not hold your property or something like that

For me almost all even they are giving small percentage they are just the same ponzi schemes there is no investment and ponzi sites that actually that can stay for too long just to give free profit from their investors..
All earnings and profit needs to hard in order to earn a good profit.. if you are just invest it in ponzi you will regret in the end.

Pretty much anything that guarantees profit is a scam, no matter how it's worded. I've made a little bit from ponzi schemes but i've also lost a little bit. It's fun to invest a little bit in them and make a little bit of cash but most of the time they will collapse before you get anything out of em.

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Quote from: lol3c on February 26, 2017, 10:02:04 AM

Quote from: Gotottack on February 26, 2017, 02:22:38 AM

Quote from: gabbie2010 on February 26, 2017, 02:02:58 AM

Ponzi schemes are identified by always promising a very high ROI at times this is so high that gullible falls as easy prey, So we should be very careful not lose our hard earned money Some Ponzi scheme will collect money and disappear.

Not really, there have been ponzi schemes that offered low rates and showed some sort of proof that they are working to give their investors some return, but in the end after months or even years of collecting deposits they still ran away. If it is well made, there is a chance that no one can detect that it is a ponzi, regardless of it having low rates.

well, if the website offer your about more than 100% a year, it is certain that they are all scammers who want to steal our money. 20% per year maybe a ponzi scammer too. You have to do a lot of analysis if you want to make sure whether it it ponzi or not. However, your money is your money, do not invest your money in some places where you can not hold your property or something like that

For me almost all even they are giving small percentage they are just the same ponzi schemes there is no investment and ponzi sites that actually that can stay for too long just to give free profit from their investors..
All earnings and profit needs to hard in order to earn a good profit.. if you are just invest it in ponzi you will regret in the end.

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Quote from: Gotottack on February 26, 2017, 02:22:38 AM

Quote from: gabbie2010 on February 26, 2017, 02:02:58 AM

Ponzi schemes are identified by always promising a very high ROI at times this is so high that gullible falls as easy prey, So we should be very careful not lose our hard earned money Some Ponzi scheme will collect money and disappear.

Not really, there have been ponzi schemes that offered low rates and showed some sort of proof that they are working to give their investors some return, but in the end after months or even years of collecting deposits they still ran away. If it is well made, there is a chance that no one can detect that it is a ponzi, regardless of it having low rates.

well, if the website offer your about more than 100% a year, it is certain that they are all scammers who want to steal our money. 20% per year maybe a ponzi scammer too. You have to do a lot of analysis if you want to make sure whether it it ponzi or not. However, your money is your money, do not invest your money in some places where you can not hold your property or something like that

Gotottack

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Quote from: gabbie2010 on February 26, 2017, 02:02:58 AM

Ponzi schemes are identified by always promising a very high ROI at times this is so high that gullible falls as easy prey, So we should be very careful not lose our hard earned money Some Ponzi scheme will collect money and disappear.

Not really, there have been ponzi schemes that offered low rates and showed some sort of proof that they are working to give their investors some return, but in the end after months or even years of collecting deposits they still ran away. If it is well made, there is a chance that no one can detect that it is a ponzi, regardless of it having low rates.

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Ponzi schemes are identified by always promising a very high ROI at times this is so high that gullible falls as easy prey, So we should be very careful not lose our hard earned money Some Ponzi scheme will collect money and disappear.

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Quote from: ultrloa on February 26, 2017, 01:42:54 AM

Quote from: Yuhee on February 23, 2017, 10:27:28 PM

Quote from: Papski on February 23, 2017, 04:56:59 PM

its easy to spot
1. affiliate commission
2. daily % earning
3. No risk
4. No real identifcation of the company

Affiliate commission depending on the % every invite that will invest in the site this is considered as ponzi.
Daily % earning, without a proof that they can sustain their capital to run the site for a long term.
Don't risk if you can't afford to lose.
All identification of some PONZI are all made with lies to entice potential investors.

that surely a big indicator to us to point out that the site is a ponzi scheme since how can a legit site earn on that if they give huge affiliate commission on his affiliators? Well thats a big red flag to us and we should be warned to avoid on investing on that sites since its super obvious that they will deceived and scam our money.

And in addition to that we should avoid investing at cloudmining or whatsoever like that so we can save our money from dirty handed person.

Sometimes those big affiliate commisions are really indication of sites that are purely ponzi and some people would really take this opportunity without harming their own money and besides that they will still invite fools to join the website and thats the way they able to earn money.

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Quote from: Yuhee on February 23, 2017, 10:27:28 PM

Quote from: Papski on February 23, 2017, 04:56:59 PM

its easy to spot
1. affiliate commission
2. daily % earning
3. No risk
4. No real identifcation of the company

Affiliate commission depending on the % every invite that will invest in the site this is considered as ponzi.
Daily % earning, without a proof that they can sustain their capital to run the site for a long term.
Don't risk if you can't afford to lose.
All identification of some PONZI are all made with lies to entice potential investors.

that surely a big indicator to us to point out that the site is a ponzi scheme since how can a legit site earn on that if they give huge affiliate commission on his affiliators? Well thats a big red flag to us and we should be warned to avoid on investing on that sites since its super obvious that they will deceived and scam our money.

And in addition to that we should avoid investing at cloudmining or whatsoever like that so we can save our money from dirty handed person.

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Quote from: gabbie2010 on February 22, 2017, 01:58:42 PM

Well my own method of identifying ponzi scheme is to google search and check reviews of that particular site, their ROI is another factor to be considered, high rate of ROI is clue and indicator of the scheme not lasting.

No need to worry much on ROI but first look for where they want to invest your money and from that business is it possible to generate so many profits. Because some of the sites paid to people for more than a year before they close the site. So when they are paying if you google it surely you will get a good opinion about these sites but at the end, they will surely close the site. If you think that they do not have any good working business module, then don't invest your money in those sites.

Slow death

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It is not so easy to detect ponzi schemes, you have some that you can easily detect, but there are others that you will not suspect that this is ponzi scheme

The first thing you should investigate When you see any website that promises X returns:

- Is there real business?

Second thing you should investigate:

- What is the revenue from this real business?

Then investigate more details such as:

- Real name of site owner

- company headquarters

These rules apply to cloud mining sites, bitcoin double sites, normal hyip sites that promise 3% per day or that say they have a trade bot

PS: do not be fooled when you read "registered company in the UK"

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Quote from: Papski on February 23, 2017, 04:56:59 PM

its easy to spot
1. affiliate commission
2. daily % earning
3. No risk
4. No real identifcation of the company

Affiliate commission depending on the % every invite that will invest in the site this is considered as ponzi.
Daily % earning, without a proof that they can sustain their capital to run the site for a long term.
Don't risk if you can't afford to lose.
All identification of some PONZI are all made with lies to entice potential investors.

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Quote from: el kaka22 on February 23, 2017, 12:48:15 PM

Quote from: lottery248 on February 23, 2017, 05:15:26 AM

for cloud mining, in a nutshell, if they are offering referral bonus, it is a scam.

for PTC, http://www.scamdetector.info/scam-portrait.html has all the information, but in a nutshell, if the need of investing before cashing out, it is a ponzi.

for investment, if they are refusing to provide the source of income, like how they are to be used, they are likely a form of ponzi.

In summary, any services which are having improper income generation methods and trying to circulate existing member's money to attract new people should be concluded as ponzi. When are looking at their business model, we can make this conclusion.

Unfortunately ponzis are now coming backed by a known business concepts. Cloud mining must be a good example here.

As spotting obvious ponzi has become as an easy task for everyone, now abusers are coming with covered ponzi. We can realize their actual business only after certain period of time. I am not finding any working idea to identify them other than staying away from them for some time but watching them closely.

even ponzi is now easily revealed, it is still annoying. as you can see in this site, the referral spam is often popped out. as well, bitcoin bans referral spam but not the scam to prevent moderator abuse.

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Ponzi offers users things which are too good to be true. So we should be very skeptical about those. They have ridiculous returns, like they will say that they can double your bitcoin in 24 hours. 200% return in 24 hours - something is obviously fishy. All ponzi operators keep their identity secret. They never reveal their true identity.

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Quote from: LittleBitFunny on February 14, 2017, 11:02:49 AM

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive. Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

For you to find out the Ponzi scheme sites or coins, they will offered something better or more than you invested unto them. They are also great to make promises to their investor. If there are no proof of evidence that they have a farm of business neither the identity of the owner of the project better stay away from them.

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its easy to spot
1. affiliate commission
2. daily % earning
3. No risk
4. No real identifcation of the company

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Quote from: lottery248 on February 23, 2017, 05:15:26 AM

for cloud mining, in a nutshell, if they are offering referral bonus, it is a scam.

for PTC, http://www.scamdetector.info/scam-portrait.html has all the information, but in a nutshell, if the need of investing before cashing out, it is a ponzi.

for investment, if they are refusing to provide the source of income, like how they are to be used, they are likely a form of ponzi.

In summary, any services which are having improper income generation methods and trying to circulate existing member's money to attract new people should be concluded as ponzi. When are looking at their business model, we can make this conclusion.

Unfortunately ponzis are now coming backed by a known business concepts. Cloud mining must be a good example here.

As spotting obvious ponzi has become as an easy task for everyone, now abusers are coming with covered ponzi. We can realize their actual business only after certain period of time. I am not finding any working idea to identify them other than staying away from them for some time but watching them closely.

lottery248

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beware of your keys.

for cloud mining, in a nutshell, if they are offering referral bonus, it is a scam.

for PTC, http://www.scamdetector.info/scam-portrait.html has all the information, but in a nutshell, if the need of investing before cashing out, it is a ponzi.

for investment, if they are refusing to provide the source of income, like how they are to be used, they are likely a form of ponzi.

so on, AFAIK.

crazydeadmoth

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Ponzi scams are offering very high interest per year, generally if you see some programs offer very high interests, they must be ponzi scams.

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if you have not money, and you want mining use create cloud mining site and real mining
i think is not profitable, except you can give return to investor very low, but is very low return nothing people interest youre service

Topic: How can I spot Ponzi schemes? (Read 2301 times)