What a great illustration of how investment bubbles can rationally occur.
Bitcoin Ponzi scheme
11–20 of 306 posts
Re: Bitcoin Ponzi scheme
#12Charles would be proud.
Re: Bitcoin Ponzi scheme
#13This is amazing.
What is amazing is that (at the time of this writing), they've had 205 BTC deposited. At today's value, that's $140,000 USD. For a site that looks to be just over one week old. In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site. Cute whois information too: Owner : Charles Ponzi
The site seems to have crashed, maybe it's Game over ?
Re: Bitcoin Ponzi scheme
#14There have been a few Bitcoin sites like this, I think the original one was Bitcoin Gem. Most of them turned out to be scams (and I don't just mean that they were Ponzis).
Re: Bitcoin Ponzi scheme
#15http://bitcoinpyramid.com/r/230 is 3 years old (and still paying :))
Re: Bitcoin Ponzi scheme
#16This is amazing.
What is amazing is that (at the time of this writing), they've had 205 BTC deposited. At today's value, that's $140,000 USD. For a site that looks to be just over one week old. In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site. Cute whois information too: Owner : Charles Ponzi
You do realize that the site is a joke, don't you?
Re: Bitcoin Ponzi scheme
#17A bit OT but how do you build automatic Bitcoin services like this?
Re: Bitcoin Ponzi scheme
#18Earlier quoted context omitted.
What is amazing is that (at the time of this writing), they've had 205 BTC deposited. At today's value, that's $140,000 USD. For a site that looks to be just over one week old. In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site. Cute whois information too: Owner : Charles Ponzi
You do realize that the site is a joke, don't you?
The blockchain doesn't lie:
https://blockchain.info/address/1ponziUjuCVdB167ZmTWH48AURW1...
Re: Bitcoin Ponzi scheme
#19Earlier quoted context omitted.
What is amazing is that (at the time of this writing), they've had 205 BTC deposited. At today's value, that's $140,000 USD. For a site that looks to be just over one week old. In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site. Cute whois information too: Owner : Charles Ponzi
You do realize that the site is a joke, don't you?
What do you mean a joke? Looking at the blockchain, it seems to be a full fledged, serious, Ponzi scheme. They're taking in BTC and paying it out again to the early investors.
EDIT: +1 to ryanjshaw for showing the blockchain: https://blockchain.info/address/1ponziUjuCVdB167ZmTWH48AURW1...
Re: Bitcoin Ponzi scheme
#20How does that work exactly? I pay in X BTC and two other people pay in say 0.5 X and 0.7 X then I get these BTC back? How exactly will my X BTC be distributed among other gamblers?