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Exit scammers run off with $660M in ICO earnings

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Re: Exit scammers run off with $660M in ICO earnings

#61

Post by wtvanhest »

pibefision wrote: post #53
ashleyn wrote: post #21

Earlier quoted context omitted.

This is one thing most people don't understand. If someone is selling you a financial instrument with >6-7% annual returns, it's as ridiculous as someone selling you a time machine or the cure to death. The top 500 companies by market cap don't do much better than 6-7% annually on average.

Take look at Argentina's market. You can get 20% of return on yearly bonds in dollars. Yes, its a bubble but its more mature than any kids ICO

I know nothing of Argentina finance, but if I take your sentence a facevalue, my assumption is that they have a high rate of estimated future inflation.

There is no free money in finance.

Re: Exit scammers run off with $660M in ICO earnings

#62

Post by simias »

jjallen wrote: post #32

This is super sad & bad for the space and for those of us that work in the industry and just want to build real stuff. $600m is a ton for anywhere, but especially for Vietnam! I hope there is an international manhunt ongoing.

I'm sure once that "real stuff" releases it'll replace the speculation and scamming in the news and the forums.

When's that happening by the way? Surely all these billions of dollars that have been poured in cryptocurrencies and "blockchain technology" in the the past years will soon come to fruition, right? I can only hold my breath for so long...

Re: Exit scammers run off with $660M in ICO earnings

#63

Post by solarkraft »

justicezyx wrote: post #52
akvadrako wrote: post #51

Earlier quoted context omitted.

7% is not ridiculous at all. twino.eu has been paying 10-13% backed by their own guarantees and a good income stream for several years.

Noooooooooo Past performance is not an indication of future.

Remember Bernard Madoff?

Edit: Ran a Ponzi scheme (promised 12% p.a.) from the 1970s til 2008. $64.8 billion of damage.

Re: Exit scammers run off with $660M in ICO earnings

#65

Post by monochromatic »

halflings wrote: post #38
throwawayReply wrote: post #8

Did it actually raise 660m or was that the size of the "market cap" when it collapsed? if I sell 100 tokens for a dollar then convince someone to buy 1 token for 10 dollars, if I run off with the money I've not run off with $1000 even if it feels like it for the people left with tokens.

This is an ICO. The scammers got paid in cold hard cash.

Well yes, but the question is how much?

Re: Exit scammers run off with $660M in ICO earnings

#66

Post by vkou »

ceejayoz wrote: post #45
creeble wrote: post #12

Earlier quoted context omitted.

This is an interesting phenomenon in general.

It's something the major social network sites are going to have to wrangle with. Someone who expresses even a tiny interest in conspiracy theories or extremist views gets pushed progressively deeper into that rabbit hole over time.

The problem with conspiracy theories is that we have no shortage of well-documented, actual, real conspiracies - alongside bullshit about how George Bush was a reptilian from the planet Xoros.

The former absolutely need to be talked about...

Re: Exit scammers run off with $660M in ICO earnings

#68

Post by piracykills »

ashleyn wrote: post #60
piracykills wrote: post #42

Earlier quoted context omitted.

> >6-7% annual returns I wouldn't say quite that low, even S&P averages are often higher than that. But 48% monthly is going to be something like a >1000% yearly interest rate. You really don't get much more of a dead giveaway than that, at that point you're either a fool or you're gambling and hoping you get out before a greater fool does.

Willfully participating in a Ponzi scheme is a crime.

Are suspicions really enough to put you into illegal territory here?

If so it'd be a very hard crime to prosecute as unless you were working for them or something it's very hard to prove you aren't just another victim.

Re: Exit scammers run off with $660M in ICO earnings

#69

Post by frgtpsswrdlame »

akvadrako wrote: post #51
ashleyn wrote: post #21

Earlier quoted context omitted.

This is one thing most people don't understand. If someone is selling you a financial instrument with >6-7% annual returns, it's as ridiculous as someone selling you a time machine or the cure to death. The top 500 companies by market cap don't do much better than 6-7% annually on average.

7% is not ridiculous at all. twino.eu has been paying 10-13% backed by their own guarantees and a good income stream for several years.

So from looking at it twino is unsecured consumer lending? That seems pretty risky.
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