Ponzi.wtf, a self admitted ponzi scheme. - page 2.

eddie13

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Quote from: dkbit98 on December 17, 2019, 06:20:29 PM

Ponzi scheme is by definition ''a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors''
source: https://en.wikipedia.org/wiki/Ponzi_scheme

Further quote from same link..
"The scheme leads victims to believe that profits are coming from product sales or other means (it does not), and they remain unaware that other investors are the source of funds. (not in this case)"
Which does not apply here..

So what is a non-fraudulent ponzi?
Can it technically still even be a "ponzi" if it isn't fraudulent?
Do you see any fraud here?

AmoreJaz

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Quote from: dkbit98 on December 17, 2019, 06:20:29 PM

WTF?!

Quote from: eddie13 on December 17, 2019, 08:08:17 AM

How exactly is a ponzi a scam if they state right upfront that they are a ponzi?

Ponzi scheme is by definition a ''is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors''
source: https://en.wikipedia.org/wiki/Ponzi_scheme

And looks like that in real world people are going to jail if they run Ponzi scheme. Tongue

scammers are now getting bold! shoving their scheme right in front of your face. at least you know what youre getting into if in case you still think of joining the pack!
if a user still thinks of joining him, then obviously it is driven by greed, thinking that he will get rich on the other end. but guess what? he will be crying and cursing afterwards.

dkbit98

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WTF?!

Quote from: eddie13 on December 17, 2019, 08:08:17 AM

How exactly is a ponzi a scam if they state right upfront that they are a ponzi?

Ponzi scheme is by definition ''a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors''
source: https://en.wikipedia.org/wiki/Ponzi_scheme

Fraud vs Scam
https://wikidiff.com/scam/fraud
https://fraudsdetection.com/scams-vs-frauds

Looks like Frauds are worse than Scams and in real world people are going to jail if they run Ponzi schemes. Tongue

updated

eddie13

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How exactly is a ponzi a scam if they state right upfront that they are a ponzi?
I understand and agree that they are scams when they try to disguise their ponzi as some sort of investment or doubler, but if they basically say "this is a ponzi, gamble if you wish", how is that a scam?

"Warning. This is a game and not an investment. If you play you might lose money. Or you might win..."
"If nobody else buys in then you are out of luck and you will have to cash out for a loss."
"The smart contract is fixed and immutable on the Ethereum blockchain. Anybody can audit the code and confirm the behavior. See the links in the helpful links section for source code and contract details"

Seems pretty honest to me actually..
Just about as much of a scam as any casino, maybe even less than many..

What is your reasoning that an honest ponzi, on a blockchain, and you can even review the source code?
"This contract will live as long as the Ethereum blockchain is running"

Wouldn't that even be equivalent to a "provably fair" casino?

Do you figure any of these statements by them are lies?

Quote from: tvplus006 on December 16, 2019, 07:52:27 AM

relative honesty .... But that doesn't change anything.

Why doesn't it change anything?

Quote from: tvplus006 on December 16, 2019, 07:52:27 AM

Investment is still dangerous.

So?
It may even be less dangerous than investing in most of the ICOs..

tvplus006

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Obviously, we see the relative honesty of scammers when they themselves say they are promoting a Ponzi scheme. But that doesn't change anything. Investment is still dangerous.
Flag is supported.

The Cryptovator

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Website: https://www.ponzi.wtf
Archived: http://archive.is/j3hou
Thread link: https://bitcointalksearch.org/topic/ponziwtf-the-safest-ponzi-scheme-on-the-internet-5209903
Archived: http://archive.is/O4vFT
What happened: Self admitted ponzi scammer.

Nothing special to say about that website since website itself describe as a ponzi scheme. Just saty away....

User who promoting this scam, he is likely scammer. See his post history and below quote,

Quote from: PK_Kid on July 13, 2019, 12:16:49 PM

I have 52 BTC and 103K USDT

my telegram : @yellBTCnow

Here is red flag: https://bitcointalk.org/index.php?action=trust;flag=1070

Topic: Ponzi.wtf, a self admitted ponzi scheme. - page 2. (Read 494 times)