MMM ponzi effects? | Bitcointalksearch.org

Oscilson

sr. member

Activity: 434

Merit: 250

Quote from: Mickeyb on November 12, 2015, 09:52:13 AM

Bitcoin has survived many things and sure as hell it will survive this as well! Of course, if this is truth! There is nothing we can do to prevent things like this so there is no sense in losing our nerves about it.

If nothing, this is another use case for us, as negative as it might be!

Do you mean the use of bitcoin by MMM will ruin the reputation of bitcoin and make it less survivable? I have no worry about this. The usage of bitcoin is a very small proportion of the total bitcoin supply.

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Bitcoin has survived many things and sure as hell it will survive this as well! Of course, if this is truth! There is nothing we can do to prevent things like this so there is no sense in losing our nerves about it.

If nothing, this is another use case for us, as negative as it might be!

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: nydiacaskey01 on November 11, 2015, 11:32:27 PM

Quote from: tmfp on November 11, 2015, 03:34:08 AM

Quote from: Mieehayii on November 11, 2015, 03:24:34 AM

My question is, MMM has any associated with Bitcoin?

Yes, MMM Global requires a deposit payment made in Bitcoin to buy Mavros (MMM tokens) and play the give/receive game.

MMM doesn't use Bitcoins only, they also use Bank to Bank Transfers but other MMM members don't want the Bank to Bank transaction since it will require them to go to the Bank or use a mobile app and their personal information will be known. That's why majority uses Bitcoin. There are members of MMM that uses a fake name and have multiple accounts.

On MMM Global, there is only a Bitcoin option. The bank option doesn't work.

Quote from: sniveling on November 12, 2015, 06:24:21 AM

Quote from: tmfp on November 08, 2015, 02:33:19 PM

"Pause Mode" is what happens, purely at Mavrodi's discretion, and has happened in the past. He just freezes conversion of Mavros into anything real for a fixed period of time. I have read that MMM Russia is currently "paused" until the New Year, but can't confirm it.

Where did you read that?

I can't read Russian but a Google translation might be semi-comprehensible. Everything I hear about MMM is founded on rumors, there are no sources of facts I can find. As it's based in the East it's shrouded in mystery, and I can't figure out how to get any reliable facts apart from joining it by paying the minimum possible Bitcoin fee.

The you tube link is private and I can't read it but I have no reason to doubt the poster.

Quote from: masterluc on October 31, 2015, 08:48:34 AM

I don't know what they are talking about, but I'm sure they funding MMM ponzi through btcchina

https://youtu.be/7GFA5R6qkso

BTW, today founder of mmm ponzi Sergey Mavrodi declared "pause mode" (freeze withdrawals) in mmm Russia until NY.

https://youtu.be/hW3i2FKt3Wg

UnknownUsername

full member

Activity: 224

Merit: 100

Quote from: sniveling on November 12, 2015, 06:24:21 AM

Quote from: tmfp on November 08, 2015, 02:33:19 PM

Quote from: Oscilson on November 08, 2015, 02:22:09 PM

Quote from: lottery248 on November 08, 2015, 04:46:12 AM

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

"Pause Mode" is what happens, purely at Mavrodi's discretion, and has happened in the past. He just freezes conversion of Mavros into anything real for a fixed period of time. I have read that MMM Russia is currently "paused" until the New Year, but can't confirm it.

Where did you read that?

I can't read Russian but a Google translation might be semi-comprehensible. Everything I hear about MMM is founded on rumors, there are no sources of facts I can find. As it's based in the East it's shrouded in mystery, and I can't figure out how to get any reliable facts apart from joining it by paying the minimum possible Bitcoin fee.

If there would be a reliable facts about it then they are jeopardizing their identity. Besides being a shady entity is already a red flag and would give you a hint thats its a ponzi structure game

sniveling

sr. member

Activity: 719

Merit: 250

Quote from: tmfp on November 08, 2015, 02:33:19 PM

Quote from: Oscilson on November 08, 2015, 02:22:09 PM

Quote from: lottery248 on November 08, 2015, 04:46:12 AM

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

"Pause Mode" is what happens, purely at Mavrodi's discretion, and has happened in the past. He just freezes conversion of Mavros into anything real for a fixed period of time. I have read that MMM Russia is currently "paused" until the New Year, but can't confirm it.

Where did you read that?

I can't read Russian but a Google translation might be semi-comprehensible. Everything I hear about MMM is founded on rumors, there are no sources of facts I can find. As it's based in the East it's shrouded in mystery, and I can't figure out how to get any reliable facts apart from joining it by paying the minimum possible Bitcoin fee.

ShetKid

sr. member

Activity: 392

Merit: 250

Quote from: nydiacaskey01 on November 11, 2015, 11:32:27 PM

Quote from: tmfp on November 11, 2015, 03:34:08 AM

Quote from: Mieehayii on November 11, 2015, 03:24:34 AM

My question is, MMM has any associated with Bitcoin?

Yes, MMM Global requires a deposit payment made in Bitcoin to buy Mavros (MMM tokens) and play the give/receive game.

MMM doesn't use Bitcoins only, they also use Bank to Bank Transfers but other MMM members don't want the Bank to Bank transaction since it will require them to go to the Bank or use a mobile app and their personal information will be known. That's why majority uses Bitcoin. There are members of MMM that uses a fake name and have multiple accounts.

But why did that factor alone cause the price to go so up ? Wouldn't like a LOT of money be required to drive price up alone ? Like literally so many millions for that rally up to 500 ?

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Quote from: tmfp on November 11, 2015, 03:34:08 AM

Quote from: Mieehayii on November 11, 2015, 03:24:34 AM

My question is, MMM has any associated with Bitcoin?

Yes, MMM Global requires a deposit payment made in Bitcoin to buy Mavros (MMM tokens) and play the give/receive game.

MMM doesn't use Bitcoins only, they also use Bank to Bank Transfers but other MMM members don't want the Bank to Bank transaction since it will require them to go to the Bank or use a mobile app and their personal information will be known. That's why majority uses Bitcoin. There are members of MMM that uses a fake name and have multiple accounts.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: Mieehayii on November 11, 2015, 03:24:34 AM

My question is, MMM has any associated with Bitcoin?

Yes, MMM Global requires a deposit payment made in Bitcoin to buy Mavros (MMM tokens) and play the give/receive game.

Mieehayii

hero member

Activity: 490

Merit: 500

My question is, MMM has any associated with Bitcoin?

Pab

legendary

Activity: 1862

Merit: 1012

How you can even think than behnd btc pump was some small hype network,i even saw article in Coindesk about that with fake link to Financial Time.Faser i will believe that alians oficially decided to ban btc and it was last btc pump than it that kind idiotic information,maybe russian oligarch were moving his money,becouse Deutche Bank has independent scrutinity now.Or Isis was moving money needed to attack USA

Or USA was moving money to attack China
Why not

brg444

hero member

Activity: 644

Merit: 504

Bitcoin replaces central, not commercial, banks

I guess we can put this theory to bed Huh

I mean the price is crashing yet this ponzi hasn't stopped so far as I can see.

Morecoin Freeman

hero member

Activity: 854

Merit: 503

Legendary trader

Quote from: nydiacaskey01 on November 10, 2015, 10:47:30 PM

Thank you for your explanation of how this scheme operates. That was very informative.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Quote from: lottery248 on November 08, 2015, 04:46:12 AM

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

they are not automatically paid...
The one who requested to withdraw will be assigned with another member who wants to invest in MMM example:
YOU want to invest 0.1BTC, you will fill up a form in their site about your intention to invest, but you can't send your BTC yet, you will be put on a pool of investors, then ME, I want to Withdraw, I will fill up a form in their site about your intention to withdraw some of my investment
so MMM System will find a match on how much you are planning to Withdraw from a pool of members who wan't to invest, then MMM System will assign my BTC address to example YOU so you can send BTC to my address, but YOU have 72 hours to send BTC or else you will be blocked.
BTC may come from 1 or more members depending on how much you a member plans to withdraw. This system is unfair sometimes because by the time someone sent you BTC, rate is already down.

Jon Connor

jr. member

Activity: 46

Merit: 1

This is not what Bitcoin needs for its image right now. I can just see more and more people associating Bitcoin with pyramid scheme or Ponzi scheme because of this. I would of rather had the price stay in the 240 range then be pumped then dumped by this bs mmm scheme.

ShetKid

sr. member

Activity: 392

Merit: 250

Quote from: nydiacaskey01 on November 10, 2015, 09:50:21 PM

looks like MMM is on it's way to collapsing, they added back the mining option where investors can invest Bitcoins and earn in 48 hours and based on their Facebook page conversation it's the answer to the shortage of recent investors in the site, meaning most are are now waiting for their Bitcoins to earn and then withdraw, but withdrawal waiting time is longer than before.

Probably looks like the reason that the holder is selling the coins which is what is likely causing to drop the price. I wish we had wallet analyzers to study the transactions with a little more detail and see if it was all due to MMM.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

looks like MMM is on it's way to collapsing, they added back the mining option where investors can invest Bitcoins and earn in 48 hours and based on their Facebook page conversation it's the answer to the shortage of recent investors in the site, meaning most are are now waiting for their Bitcoins to earn and then withdraw, but withdrawal waiting time is longer than before.

pitham1

legendary

Activity: 1232

Merit: 1000

Quote from: Oscilson on November 08, 2015, 02:22:09 PM

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

With the very high rates being offered by MMM, this tipping point is imminent.
Whether people convert the bitcoins back into fiat after "being helped" (equivalent of withdrawing in MMM) is debatable.
Most people, however, would not succeed in withdrawing.

tmfp

legendary

Activity: 1932

Merit: 1737

"Common rogue from Russia with a bare ass."

Quote from: Oscilson on November 08, 2015, 02:22:09 PM

Quote from: lottery248 on November 08, 2015, 04:46:12 AM

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

"Pause Mode" is what happens, purely at Mavrodi's discretion, and has happened in the past. He just freezes conversion of Mavros into anything real for a fixed period of time. I have read that MMM Russia is currently "paused" until the New Year, but can't confirm it.

Oscilson

sr. member

Activity: 434

Merit: 250

Quote from: lottery248 on November 08, 2015, 04:46:12 AM

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

If there is a rumour about the collapse of the MMM scheme, will the players withdraw the money like a bank run? I am sure MMM is at its tipping point or not. Very interested to know the effect of a rumour.

lottery248

legendary

Activity: 1582

Merit: 1006

beware of your keys.

Quote from: m3 on November 08, 2015, 04:25:25 AM

Quote from: alpet on November 08, 2015, 04:24:04 AM

Bitcoin made rocket after 8/10 - after opens Gemini exchange. So, I'm sure what MMM have only collateral effect for current trend.

is MMM still paying?

automatically paid from random users, rather than central fund.
this is the strategy to scam money.

Topic: MMM ponzi effects? (Read 3700 times)