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Topic: MMM ponzi effects? - page 3. (Read 3700 times)

legendary
Activity: 1344
Merit: 1006
November 04, 2015, 11:55:26 PM
#7
member of those MMM ponzi scheme will just buy and sell Bitcoins, they don't keep those Bitcoins since they just send it to another address then wait for week then request for withdrawal with interest then exchange since Bitcoin is not that mainstream yet in China.
From what I understood, they would not get the returns immediately, so could be sometime soon. Also highly depends on when the ponzi operator cashes out. He could dump his holdings too.

1 week is the soonest that they can dump Bitcoins, the longer they don't withdraw the bigger the interest, that's why some have multiple accounts there. If i'm the ponzi operator, I can easily assign my BTC address to anyone and they will send Bitcoins because after a week, they can withdraw with interest. It's a circle.
sr. member
Activity: 392
Merit: 250
November 04, 2015, 11:51:39 PM
#6
member of those MMM ponzi scheme will just buy and sell Bitcoins, they don't keep those Bitcoins since they just send it to another address then wait for week then request for withdrawal with interest then exchange since Bitcoin is not that mainstream yet in China.
From what I understood, they would not get the returns immediately, so could be sometime soon. Also highly depends on when the ponzi operator cashes out. He could dump his holdings too.
legendary
Activity: 1344
Merit: 1006
November 04, 2015, 11:07:17 PM
#5
member of those MMM ponzi scheme will just buy and sell Bitcoins, they don't keep those Bitcoins since they just send it to another address then wait for week then request for withdrawal with interest then exchange since Bitcoin is not that mainstream yet in China.
sr. member
Activity: 306
Merit: 257
November 04, 2015, 11:04:18 PM
#4
Sell now, buy again when Bitcoin goes to $50 after MMM ponzi blows.
sr. member
Activity: 392
Merit: 250
November 04, 2015, 08:44:30 AM
#3
It could be. From what I think we don't know the reason for the boom that has happened this week. So it could just be coincidence or some individual behind the price rise.
legendary
Activity: 1193
Merit: 1001
Chinese translator
November 04, 2015, 08:38:16 AM
#2
It doesn't matter what the reason is, just enjoy this big bump! I can't even believe we're standing at $500 again.
newbie
Activity: 47
Merit: 0
November 04, 2015, 08:36:09 AM
#1
There are rumors about the MMM ponzi scheme being somewhat responsible for the current rallye. After the recent price rise we may experience an unexpected dynamic that works like this: Many newcomers to the ponzi scheme learn about Bitcoin and how to buy them in order to enter MMM - and they do this while the bitcoin price is rising very quickly.

Now put yourself into the position of such a person: You have bought Bitcoin that gain 10% in value each day. Would you still "invest" into MMM or would you rather hold the coins, as you already see crazy profits that are even higher than what the ponzi has promised? We might currently see MMM inadvertently recruit bitcoin users instead of ponzi victims, which would be a very nice thing on many levels.

What do you think?
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