Topic: The cancer that is Ponzi - page 4. (Read 5782 times)

Catnip for the press...

Gambles have provably fair rules.

Ponzis are scams in which, by design, the author can pull the plug whenever he sees fit.

In the best interest of young people and/or newcomers who might not understand this I would add a new subforum called "HYIP/Ponzi/scams", or directly "Scams".

Thank fuck for that, thought I was the only person on this entire forum who could see the obvious

We need a ponzi subforum. Is simple.

I've been playing PonziCoin (both the full one and Mini) from the start and whilst there has been a few bugs in the code, Vort (the owner) is still a "Newbie" yet he has been straight up and honest with everyone. He admits when there is a problem and works his nuts off to fix it. Overall he has processed more than 200BTC yet I still hear people say "they are just waiting for the big one" - how big does it need to be??

I understand playing a ponzi isnt to everyone's taste - but personally, providing they are sold "as a ponzi" and not trying to offer guaranteed returns etc, I just see it as normal gambling.

Have you guys ever checked these, more successful, ponzis out? They dont "collapse" they run in rounds, which players accept. When the funds dry up a new round starts. If those are the rules, and they are made clear at the very start, then surely it is up to the players to decide whether that's a gamble they want to take?

I think the REAL problem is allowing new forum accounts to post in the gambling section - I'm sure 90% of the Ponzi threads are indeed scammers looking to make a quick BTCBTCBTC

Ponzis that claim to use investor money to buy hardware and make 150% daily. They don't actually mine.

Read the post above yours Roslinpl I explained it quite clearly.

I don't get it? Mining ponzis? Please post more details about this.

You send them 1 bitcoin.

They pay you 0.08 a week, you think holy shit what a return! 8% weekly!

You tell everyone on bitcointalk you're making great returns.

After 4 weeks loads more people have invested.

You've made 0.32 bitcoins in 4 weeks (you're actually still down 0.68btc) and are busily referring people to the mining ponzi.

After however long - mining ponzi operator runs off with all the funds.

Exactly the same as any other ponzi, except instead of "high yield investment programs" or "crowd funding IT startups" they're "mining"

it's kind of obvious when the "mining" company won't even provide a pic of a single miner or prove they've ever generated a single coin

How exactly does a mining Ponzi work?

the most damaging are the mining ponzis like PBMining.

They doubled their hash rate over night, they won't provide any proof of coin generation, and they're running off with 100+ bitcoins and counting

Let them be whatever they are.
 

I dont care about them any more.


Regards.

I suppose technically it's gambling. You deposit a sum of money that you might either lose (no more investors, or owner runs off with your money) or win, and gain a profit relative to the amount deposited.

Not anything really I suppose when you look at it, but it's still a big enough part of the forums to have it's own sub forum imo, even if it's within the same category. It would make it easier to navigate and find what you're looking for, for sure.

I agree with this, I have seen each round gradually decrease in both value and # of transactions.

no. ponzi == fad

I think ponzi section will be never done.
And ponzis will be around untill world end.

I am not very happy with that.
But seems like people who play ponzi like ponzi

so maybe like I say, we are just overreacting

Besides the "scam yes or no" discussion I think that this is the situation.

There are like 7 "anti ponzi - pls make own forum" topics already and many people agree with that. I can quote them if you want, but I think it's pretty obvious for anyone who is active in the gambling forum.

I do think there is a market for ponzis but "traditional gambling" and ponzi seem 2 completely different target groups to me. Also sometimes the first page of the gambling forum is covered by more than 50% ponzi so there are also enough topics to fill an own forum too.

I think the line is very clear. At this point sub forum could be called "Ponzi/HYIP Gambling" and all topics that include "ponzi" in the title could be moved to there already. Anything with "invest and get 120% unless you are the last" = ponzi, can be moved there. At this point it's that simple IMO.

or like a charity I called it charity from a while hehe

Definition of 'Ponzi Scheme'


Is a ponzi actually a ponzi when its labelled as a ponzi?

No promises are being made. Players gamble their coins at their own risk. Early players win, later players lose. Genuine operators take their cut, but as do any other business owners.

A line needs drawing between Ponzi operators who are honest - in it to make BTCBTCBTC through charging fees, and those who are in it to lure naive players and running off with all the coins.

People who refute there are honest Ponzi operators out there need to take a long hard look at their selves and put their own opinions of the game to one side.

I will use PonziCoin as an example as that is the only ponzi I can categorically say is "honest" - and that is because I run it! You can see from the site and the sheer fact it is now fully automated, I have put many hours into developing the site - my partner may say too many! I've invested my hours into this to ensure I have a stable system which I don’t have to hand hold every day, I don’t have players coming to me because their deposit has been missed, or a payout has been missed - it just works. To me, that isn’t the sign of someone, or something which is in it to make a "quick buck" and such sites are getting a bad name purely because some people here deem all of these "games" scams (Scam: a dishonest scheme; a fraud.).

I do however 100% agree there needs to be some filtering\restriction of threads being opened in the gambling sections. Too many players appear to have been conned by new Ponzis (and other games) opening up, which is affecting the draw to the entire gambling community.