Topic: Ponzi Schemes On The Rise Raking In Bigger Amounts Than Ever (Read 1788 times)
Guess this is a side effect of cheaper coins, people are less concerned w/ their coins current value and thus are willing to frivolously engage these scammers even more.
Ponzi schemes may not be everyones cup of tea when gambling for profits, but this type of fraud has been one of the main criminal activities that has tainted the name of Bitcoin. Ponzi schemes may be seen as a form of investment by some or a form of gambling by the majority but one fact has been cemented, Ponzis are here to stay.
Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
Except now people are actually being arrested for it. Sure, it's the "ponzi bubble", but it will pop.
It used to be scam mining companies. Then scam securities/deposits. Now ponzis. One by one they go down/stop.
If only ponzi schemes state what will happen in their business, people might soon be prevented from getting burned in the end.
And also, why the heck do people still send money in ponzi schemes when they know that most of the ponzis ended up being a scam?
And also, why the heck do people still send money in ponzi schemes when they know that most of the ponzis ended up being a scam?
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
ITS A SCAM!!! I would prefer a gambling my coins to a casino rather than putting it in a scam.
That's your personal preference, but it's not a scam when the players know the rules, and all the winners get paid. What part would you consider to be fraudulent to justify your classification as a scam?
The good thing about those ponzis is that people hopefully learn not to play them after they lost a few times and are more careful with their businesses decisions going forward in life. They steal new and young users which is bad PR for Bitcoin and the community.
Ponzi schemes may not be everyones cup of tea when gambling for profits, but this type of fraud has been one of the main criminal activities that has tainted the name of Bitcoin. Ponzi schemes may be seen as a form of investment by some or a form of gambling by the majority but one fact has been cemented, Ponzis are here to stay.
Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
I think the anonyumity aspect of bitcoin is what allows all these scammers to get away . Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
Would be hard to shut them down completely.y
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
ITS A SCAM!!! I would prefer a gambling my coins to a casino rather than putting it in a scam.
That's your personal preference, but it's not a scam when the players know the rules, and all the winners get paid. What part would you consider to be fraudulent to justify your classification as a scam?
Simply knowing the rules and having winners get paid does not necessarily equate to something not being a scam.
I'll give you an example: online poker. There's a reason why the U.S. government took it down completely. Not because they couldn't tax earnings, but because they couldn't completely assure a fair odds system (ie, bots and/or skewed odds/fixed hands) for players as the servers were based overseas and not fully transparent.
So no...just because an online site states clear rules and real winners get paid, does not mean everything is being run clean 'behind the scenes.' That's why there are checks and balances. But if it's a non fully transparent business, then there is always room for illicit activity behind the scenes.
Having the opportunity to turn something into a scam doesn't equate to that thing being a scam when administered properly. When that thing becomes fraudulent, then it becomes a scam...
I'm basing my assumptions on the literal definition of the word "scam" which requires fraud, and if the players know the rules, there is no fraud...
The U.S. government does many things and not all of them are "right" or "good calls." Attacking online poker the way it did was neither a good call, the right choice, or within it's authority to do so. Much in the same way that an assailant might overtake a victim by force in order to achieve their goals, simply having power or ability to do something doesn't grant the authority, or justification to those ends. The U.S. government has no power to enforce US mandate on property located overseas, if any other nation attempted to enforce mandate on US property located on US soil, they would be received as an occupying force and met with lethal force... So by playing the "devils advocate" it was clearly wrong what the US did by violating the sovereignty of another nation, and the US wouldn't allow the same to be done in reverse...
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
ITS A SCAM!!! I would prefer a gambling my coins to a casino rather than putting it in a scam.
That's your personal preference, but it's not a scam when the players know the rules, and all the winners get paid. What part would you consider to be fraudulent to justify your classification as a scam?
Simply knowing the rules and having winners get paid does not necessarily equate to something not being a scam.
I'll give you an example: online poker. There's a reason why the U.S. government took it down completely. Not because they couldn't tax earnings, but because they couldn't completely assure a fair odds system (ie, bots and/or skewed odds/fixed hands) for players as the servers were based overseas and not fully transparent.
So no...just because an online site states clear rules and real winners get paid, does not mean everything is being run clean 'behind the scenes.' That's why there are checks and balances. But if it's a non fully transparent business, then there is always room for illicit activity behind the scenes.
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
ITS A SCAM!!! I would prefer a gambling my coins to a casino rather than putting it in a scam.
That's your personal preference, but it's not a scam when the players know the rules, and all the winners get paid. What part would you consider to be fraudulent to justify your classification as a scam?
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
ITS A SCAM!!! I would prefer a gambling my coins to a casino rather than putting it in a scam.
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
In my opinion the negative light that is shed on ponzis is not right. I don't play ponzis but its not like they are lying.A bad example (one that deserves negative attention): BTC-Arbs - advertised they make arbitrage and obviously were a ponzi, lying about who they were from the beginning.
A good example (doesn't deserve negative attention): any PONZI site with name PONZI in it
As long as a ponzi site explains that not everyone wins and that early people win, it is simply a gambling site. It is not a scam by any means. They say what they are and say that some win some lose. As long as they take only the fee they describe and that all people who are supposed to get paid do, there isn't a scam or anything negative. People who play ponzis understand its a gamble and understand thats the risk they take. Only time ponzis should be held in negative light in my opinion is when they to hide what they truly are like BTC-arbs and other similar sites have done.
Why do people actually fall for it? Like are they expecting to actually get a return on a investment that has the Ponzi in the title?
If all of you are against ponzis and scams, why do you all promote them in your signatures for pennies a day...............hypocrites. 
Ponzi schemes may not be everyones cup of tea when gambling for profits, but this type of fraud has been one of the main criminal activities that has tainted the name of Bitcoin. Ponzi schemes may be seen as a form of investment by some or a form of gambling by the majority but one fact has been cemented, Ponzis are here to stay.
Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
Read the full story exclusively at http://www.btcfeed.net/fraud/ponzi-schemes-rise-raking-bigger-amounts-ever/
I guess the ponzi creators are raking a lot of money but I am sure most players are losing.
i dont feel bad for people who lose on ponzi schemes that fucking tell you it is a ponzi before you send money
i mean seriously wtf
i mean seriously wtf
Human greed has no boundaries so no wonder there will be always different ponzis.
Lots advertise themselves as ponzis and everyone still flocks to them! I think the current bitcoin user is more inclined to (possibly stupid) risk taking. 
Yup. The trend is definitely there. It is sad that so many people out there really profit off taking advantage of eager souls. I always live by this rule: remember the human
Has never steered me wrong.
Has never steered me wrong.
Human greed has no boundaries so no wonder there will be always different ponzis.
It is very easy to hide your identity when you are dealing with bitcoin, therefore people have lesser concerns about the legal consequences of running a ponzi scheme that are associated with running a fiat based ponzi
More attention for BTC, only the wrong kind of attention...
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