LOL so pirate kicked me from #btcst yet he doesnt have enough time to return all the bitcoins bwahahahahahaha!
So you're saying he made you walk the plank?
Topic: Re: How to Identify a Ponzi - page 2. (Read 2147 times)
So you're saying he made you walk the plank?
LOL so pirate kicked me from #btcst yet he doesnt have enough time to return all the bitcoins bwahahahahahaha!
I think this forum shouldn't promote this kind of investment schemes. Many people don't know or don't want to believe that what's too good to be true, it's actually not true. Therfore, this Ponzi schemes should be spotted by more experienced members and the users promoting them should not be allowed to scam people using free (and effective) publicity.
The libertarian in me is shouting you down. The tiny compassionate part agrees with you. The problem arises when deciding what guidelines to use in "identifying" a ponzi. All you can really do is state suspicion, unless there's some type of confession. As already shown in this thread, there are plenty of ponzis fitting the OP's loose definition, and ponzis, also, that run contrary to the loose definition - and a good bit of disagreement over what indicates a ponzi. I mean - what kind of rules should be in place? You must disclose all finances? You must release all government and other third-party identification when the legal definition of Bitcoin is up in the air? You must not return over 50% on investment per year?
I think this forum shouldn't promote this kind of investment schemes. Many people don't know or don't want to believe that what's too good to be true, it's actually not true. Therfore, this Ponzi schemes should be spotted by more experienced members and the users promoting them should not be allowed to scam people using free (and effective) publicity.
One clear sign that pirate was/is operating a ponzi is that he is forced to close his business because of the fact that many investors wanted to get their principal investment back at the same time. Otherwise why does it matter if they want their bitcoins and he has them right? Also there shouldn't be a delay if he has all of their funds. So far he hasn't returned all investor coins....
Yep, also note that not a single repayment was made/reported today. If this was a genuine op and knowing the allegations surely a fund manager, with intention to pay anything at all soon, would do his damnest to pay today at least some "investors". This has not happened. Instead there is just "leaked" information that Pirate supposedly will be telling someone how he performed miracles. Right on...
Fast repayment? Bitcoinica style? lol
bitcoinica style
^ 2infinity squared?
or
infinitely screwed?
One clear sign that pirate was/is operating a ponzi is that he is forced to close his business because of the fact that many investors wanted to get their principal investment back at the same time. Otherwise why does it matter if they want their bitcoins and he has them right? Also there shouldn't be a delay if he has all of their funds. So far he hasn't returned all investor coins....
Yep, also note that not a single repayment was made/reported today. If this was a genuine op and knowing the allegations surely a fund manager, with intention to pay anything at all soon, would do his damnest to pay today at least some "investors". This has not happened. Instead there is just "leaked" information that Pirate supposedly will be telling someone how he performed miracles. Right on...
Fast repayment? Bitcoinica style? lol
bitcoinica style
^ 2 
One clear sign that pirate was/is operating a ponzi is that he is forced to close his business because of the fact that many investors wanted to get their principal investment back at the same time. Otherwise why does it matter if they want their bitcoins and he has them right? Also there shouldn't be a delay if he has all of their funds. So far he hasn't returned all investor coins....
Yep, also note that not a single repayment was made/reported today. If this was a genuine op and knowing the allegations surely a fund manager, with intention to pay anything at all soon, would do his damnest to pay today at least some "investors". This has not happened. Instead there is just "leaked" information that Pirate supposedly will be telling someone how he performed miracles. Right on...
Fast repayment? Bitcoinica style? lol
One clear sign that pirate was/is operating a ponzi is that he is forced to close his business because of the fact that many investors wanted to get their principal investment back at the same time. Otherwise why does it matter if they want their bitcoins and he has them right? Also there shouldn't be a delay if he has all of their funds. So far he hasn't returned all investor coins....
Yep, also note that not a single repayment was made/reported today. If this was a genuine op and knowing the allegations surely a fund manager, with intention to pay anything at all soon, would do his damnest to pay today at least some "investors". This has not happened. Instead there is just "leaked" information that Pirate supposedly will be telling someone how he performed miracles. Right on...
One clear sign that pirate was/is operating a ponzi is that he is forced to close his business because of the fact that many investors wanted to get their principal investment back at the same time. Otherwise why does it matter if they want their bitcoins and he has them right? Also there shouldn't be a delay if he has all of their funds. So far he hasn't returned all investor coins....
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