Ponzi Schemes Using Virtual Currencies (2014) [pdf]
1–10 of 67 posts
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#2This was published 2014/03/11 as far as I can tell, if anyone is wondering.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#3Seems that most of there are examples of fraud instead of a Ponzi specifically. They list a single example of using Bitcoins as part of a Ponzi scheme, but no examples of ICOs being Ponzi schemes. Based on OP's submission immediately prior I believe this is what they were trying to suggest.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#4"No minimum investor qualifications. Most legitimate
private investment opportunities require you to
be an accredited investor. You should be highly skeptical
of investment opportunities that do not ask about
your salary or net worth."
This is a ridiculous regulation that prohibits class mobility as software eats the world. Apparently being middle class means you are too stupid to realize you are being scammed, but if you are rich you get first pick.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#5Seems that most of there are examples of fraud instead of a Ponzi specifically. They list a single example of using Bitcoins as part of a Ponzi scheme, but no examples of ICOs being Ponzi schemes. Based on OP's submission immediately prior I believe this is what they were trying to suggest.
Well they say: "We are concerned that the rising use of virtual currencies in the global marketplace may entice fraudsters to lure investors into Ponzi and other schemes in which these currencies are used to facilitate fraudulent, or simply fabricated, investments or transactions."
Which reasonably straight forward.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#6It happened in Brazil recently, where one company created a fake cryptocurrency and used it on its Ponzi scheme.
source: https://translate.google.com/translate?hl=en&sl=pt&tl=en&u=h...
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#7Thanks SEC. They are fighting a Bitcoin EFT while "warning" us about Ponzi schemes that don't exist. I dislike Trump as much as the next guy, but "Drain the swamp" sounds better and better.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#8Would be interesting if they would give examples of ICOs or other crypto related investments which turned out to be Ponzi schemes or fraud.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#9"No minimum investor qualifications. Most legitimate private investment opportunities require you to be an accredited investor. You should be highly skeptical of investment opportunities that do not ask about your salary or net worth." This is a ridiculous regulation that prohibits class mobility as software eats the world. Apparently being middle class means you are too stupid to realize you are being scammed, but i…
To further elaborate - a young student putting in $1000 in facebook seed round would now be a millionaire. Not unthinkable for someone like a young Warren Buffet. The government has successfully regulated the future to the top 1%, while claiming it's for the public good.
Re: Ponzi Schemes Using Virtual Currencies (2014) [pdf]
#10This was published 2014/03/11 as far as I can tell, if anyone is wondering.
Thanks! We've updated the headline.