Ponzi Schemes On The Rise Raking In Bigger Amounts Than Ever

noma

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Quote from: pozmu on January 10, 2015, 07:47:10 PM

Cryptodouble has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble Grin

Wait, I haven't been following all the ponzi threads but wasn't it accused of scam by some users on the forums ? Or were they only late investors who didn't get any money ?

koshgel

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Quote from: philiveyjr on January 13, 2015, 03:45:02 PM

Quote from: NeuroticFish on January 12, 2015, 11:39:38 AM

Quote from: Snail2 on January 12, 2015, 11:07:04 AM

Quote from: m3 on January 11, 2015, 12:48:18 AM

Just like there were plenty of scams at the beginning of the internet. People will get smarter and eventually learn, it just will take time.

There are always a lot of "newcomers". Many of them happy to jump into every kind of shit in hopes of making a few quick bucks.

It's quite worrying that lately there are a couple new Ponzi games popping up on the daily basis. People seem not to learn...

I dont get it! how r ponzi's still on the rise?? there is enough info abt whats gonna happen in the end..ie. ppl losing money.!! but still they r running successfully! HOW?? Huh

Greedy people that are realllly stupid.

A fool and his money are soon parted

philiveyjr

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Quote from: NeuroticFish on January 12, 2015, 11:39:38 AM

Quote from: Snail2 on January 12, 2015, 11:07:04 AM

Quote from: m3 on January 11, 2015, 12:48:18 AM

Just like there were plenty of scams at the beginning of the internet. People will get smarter and eventually learn, it just will take time.

There are always a lot of "newcomers". Many of them happy to jump into every kind of shit in hopes of making a few quick bucks.

It's quite worrying that lately there are a couple new Ponzi games popping up on the daily basis. People seem not to learn...

I dont get it! how r ponzi's still on the rise?? there is enough info abt whats gonna happen in the end..ie. ppl losing money.!! but still they r running successfully! HOW?? Huh

NeuroticFish

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Quote from: Snail2 on January 12, 2015, 11:07:04 AM

Quote from: m3 on January 11, 2015, 12:48:18 AM

Just like there were plenty of scams at the beginning of the internet. People will get smarter and eventually learn, it just will take time.

There are always a lot of "newcomers". Many of them happy to jump into every kind of shit in hopes of making a few quick bucks.

It's quite worrying that lately there are a couple new Ponzi games popping up on the daily basis. People seem not to learn...

Snail2

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Activity: 1512

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Quote from: m3 on January 11, 2015, 12:48:18 AM

Just like there were plenty of scams at the beginning of the internet. People will get smarter and eventually learn, it just will take time.

There are always a lot of "newcomers". Many of them happy to jump into every kind of shit in hopes of making a few quick bucks.

fildza

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Merit: 250

Ask me anything if you have any problem

Quote from: ?? on ??

Would it be possible to use smart contracts to create a perpetual and headless ponzi? I'd guess something like an address to send coins to and receive, say, 1% per week until 110% has been paid out?

1% = 1 week
52 week = 1 year
104 week = 2 year = 104%

So need 2 year + 6 days to get all our money. That what you mean?

doggieTattoo

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Quote from: Pierre11 on January 11, 2015, 07:13:44 PM

Interesting read. I think what we need here is a clear explanation on what a ponzi is, to inform new users who still can't differentiate a ponzi from somethig legitimate. I agree with the article.

Ponzi's are fine with me as long as they are honest and don't leave anyone without paying them back, which in most cases is very hard to do.

By definition, it is not possible for a ponzi to pay all investors all the money promised. A ponzi will not actually invest investor money but rather will pay early investors with money from later investors (while using some kind of mixer in the process of course)

WhalingWhales

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What seriously people fall for this crap? It gives me ideas as i believe money/digital numbers should be in the hands of people that cherish multiply and on occasions get abit sweaty over them Tongue

R2D221

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Quote from: Pierre11 on January 11, 2015, 07:13:44 PM

Ponzi's are fine with me as long as they are honest and don't leave anyone without paying them back, which in most cases is very hard to do.

That is mathematically impossible. To be able to pay everyone, you need an infinite amount of new investors.

Pierre11

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Interesting read. I think what we need here is a clear explanation on what a ponzi is, to inform new users who still can't differentiate a ponzi from somethig legitimate. I agree with the article.

Ponzi's are fine with me as long as they are honest and don't leave anyone without paying them back, which in most cases is very hard to do.

BADecker

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Quote from: BTCreward on January 11, 2015, 05:28:15 PM

Quote from: Chef Ramsay on January 10, 2015, 11:58:01 PM

Quote from: BTCreward on January 10, 2015, 11:20:41 PM

Quote from: pozmu on January 10, 2015, 07:47:10 PM

Cryptodouble has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble Grin

It is another ponzi scam. Just because they are paying out today does not mean they are going to continue to pay forever. They eventually will end up running away with investor money

I think the reason that bitcoin sees so many ponzis is because it is so easy to hide your identity when dealing with bitcoin

Plus, people are blinded by getting unrealistic returns for any length of time. I get that people want to add to their stash of bitcoins but when you'll inevitably get burned time and again by engaging in activities like this is becomes obvious that the best way to secure your stash is holding what ya got and having a job so you can incrementally buy more. Be smart not greedy and you'll save yourself getting ripped off.

People assume that most ponzis are going to pay out to their investors for some short amount of time in order to build up confidence in their scheme. They are essentially gambling that they will be able to exit the ponzi prior to the operators running away with investor money.

What people need to realize is that investing in a ponzi has a negative EV because the operators are eventually going to steal investor's money

This is exactly the point for doing Ponzi with Bitcoin. Bitcoin is really just starting. Bitcoin has just started making inroads into the economy. Bitcoin is tiny compared with all the fiats of the world. It will be decades before a good Bitcoin Ponzi fails. Those who get in now will wind up becoming rich.

In addition, since many folks love a Ponzi, pushing Bitcoin in the direction of Ponzis, will help it spread, worldwide, faster than ever.

Do you want Bitcoin to succeed? Look at all the people who play lotteries around the world. Design and implement a good Bitcoin Ponzi.

BTCreward

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Quote from: Chef Ramsay on January 10, 2015, 11:58:01 PM

Quote from: BTCreward on January 10, 2015, 11:20:41 PM

Quote from: pozmu on January 10, 2015, 07:47:10 PM

Cryptodouble has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble Grin

It is another ponzi scam. Just because they are paying out today does not mean they are going to continue to pay forever. They eventually will end up running away with investor money

I think the reason that bitcoin sees so many ponzis is because it is so easy to hide your identity when dealing with bitcoin

Plus, people are blinded by getting unrealistic returns for any length of time. I get that people want to add to their stash of bitcoins but when you'll inevitably get burned time and again by engaging in activities like this is becomes obvious that the best way to secure your stash is holding what ya got and having a job so you can incrementally buy more. Be smart not greedy and you'll save yourself getting ripped off.

People assume that most ponzis are going to pay out to their investors for some short amount of time in order to build up confidence in their scheme. They are essentially gambling that they will be able to exit the ponzi prior to the operators running away with investor money.

What people need to realize is that investing in a ponzi has a negative EV because the operators are eventually going to steal investor's money

sherbyspark

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Activity: 910

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Yesterday I saw 3 ponzis posted on the gambling section. And within minutes they received 5-8 BTC and the funds were locked .The threads are locked now as well.
Despite the risk of losing money in a ponzi people risk losing money to the person running them as well.

Brewins

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Quote from: ?? on ??

Would it be possible to use smart contracts to create a perpetual and headless ponzi? I'd guess something like an address to send coins to and receive, say, 1% per week until 110% has been paid out?

Until there are no more suckers to send money to pay 1% weekly for someone. At most when all world is on it except one guy.

Won't last longer than any other ponzi

fildza

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Activity: 322

Merit: 250

Ask me anything if you have any problem

Quote from: okae on January 11, 2015, 06:56:14 AM

Quote from: pozmu on January 10, 2015, 07:47:10 PM

Cryptodouble has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble Grin

you forgot to say that on EVERY ponzi scheme only the fist guys who join will get some $, rest will be scammed....

Quote from: Vod on January 10, 2015, 07:53:06 PM

Of course you are posting your referral link and will make money off the stupid people who click on it. Undecided

thats it

Quote from: jonald_fyookball on January 10, 2015, 08:32:09 PM

what's interesting is that they aren't hiding the fact they are ponzis...just blantantly shamelessly promoting them.

they dont need to hide nothing, everybody know they are a ponzi and people still invest on those things....

we can bet about how many time this web will be online untill colapse Tongue

That are same as gambling. People know that they will lose all money if keep play but why they keep insist to play? That because people only think the profit afterward without think about lose money

okae

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northern exposure

Quote from: pozmu on January 10, 2015, 07:47:10 PM

Cryptodouble has been great so far, I'm sad I didn't invest more in the very beggining, but it still feel safer than any ponzi ever. The fact they accept investments in ~200 different cryptocurrencies is amazing!
IMHO this is most spectacular crypto ponzi so far, congrats to its creators.
Long live cryptodouble Grin

you forgot to say that on EVERY ponzi scheme only the fist guys who join will get some $, rest will be scammed....

Quote from: Vod on January 10, 2015, 07:53:06 PM

Of course you are posting your referral link and will make money off the stupid people who click on it. Undecided

thats it

Quote from: jonald_fyookball on January 10, 2015, 08:32:09 PM

what's interesting is that they aren't hiding the fact they are ponzis...just blantantly shamelessly promoting them.

they dont need to hide nothing, everybody know they are a ponzi and people still invest on those things....

we can bet about how many time this web will be online untill colapse Tongue

15Lemon714

sr. member

Activity: 266

Merit: 250

Hustle hustle aint it what the games about?

one of these %%&* heads got 700btc just last week lol

Greedy people want a quick get rich fix so they get penetrated which should atleast teach them after a few times Roll Eyes

bitcoin_purist

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Fearless, except for those who are fearless

Quote from: Q7 on January 10, 2015, 08:46:40 PM

...If it is too good to be true, avoid it.

Then you should avoid bitcoin in the first place.
Bitcoin is too good to be true. It's almost perfect.

MegaHustlr

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Vote 4fryn :)

Quote from: Bit_Happy on January 11, 2015, 12:05:23 AM

Do bag-holders need a new bag to make life more exciting?
I don't understand the repeated attraction to Ponzi scams, since casinos are for gambling and trading/exchanges are good for a risk where you can actually make money in the long run.

It's the appeal for what seems like really easy profit. Everyone thinks they can get in early and believe they have gotten in early when they first deposit. Once a return is received, they try again with a larger amount maybe and continue until it's too late and they haven't realised that they won't be getting their deposit back.

LiteCoinGuy

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In Satoshi I Trust

cool website: "crypto double" Cheesy

haha

just imagine what scams will happen when we reach a market cap of 40-50 billions in BTC. alot more than today. you cant change that unfortunately. the good grows and the bad too.

i estimate that Paycoin/Paybase was the biggest Scam/Ponzi Scheme after mtgox.

Topic: Ponzi Schemes On The Rise Raking In Bigger Amounts Than Ever (Read 1876 times)