Ponzi! Get in early! | Bitcointalksearch.org

Stefanie Andrea

newbie

Activity: 56

Merit: 0

Quote from: Lolcust on August 13, 2011, 06:20:46 AM

Heh, I wonder if there exists a ready-made open-source bitcoin ponzi engine ^__^

Maybe ask the Creators where they got theirs

Lolcust

member

Activity: 112

Merit: 11

Hillariously voracious

Heh, I wonder if there exists a ready-made open-source bitcoin ponzi engine ^__^

Stefanie Andrea

newbie

Activity: 56

Merit: 0

Quote from: thisisgil on August 13, 2011, 06:02:11 AM

I know a lot of people who lost big on that, Ninja.

There's no such thing as a free lunch!

How can you lose big?

.5 btc isn't even a lot.

thisisgil

full member

Activity: 173

Merit: 100

I know a lot of people who lost big on that, Ninja.

There's no such thing as a free lunch!

Hollie

member

Activity: 84

Merit: 10

This account was a fraudulent account.

http://rand.bitcat.ch - The Best place to earn Bitcoins. I Turned .5 btc into 5btc. There is no limit to how much you can win back, EVER!

indio007

full member

Activity: 224

Merit: 100

Well these ponzi's are gambling really. You only need to ask yourself. "What are the odds I got in early enough?"

thisisgil

full member

Activity: 173

Merit: 100

Interesting that people actually admit to running ponzi schemes now - Bitcoin truly is a revolutionary currency

Anybody from these boards thrown any coins in that can keep us updated as to how they do?

timmey

newbie

Activity: 28

Merit: 0

Quote from: viboracecata on August 12, 2011, 01:48:09 AM

How do you make the profits?

usual ponzi scheme:
- guy One pays 1BTC to the deposit address
- guy Two enters the game with 0.5BTC (overall pot is raised to 1.5BTC)
- ROI is 34%, guy One is first in line, he payed 1BTC, return is 1BTC x 34% = 1.34BTC
- guy One receives 1.34BTC payout (overall pot is reduced 0.26BTC)
- guy Two must wait for others to refill the pot for his payout
- repeat until ponzi collapse

tl;dr: Get in early to make profit Wink