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Here's someone who recently sent 1 BTC to this ponzi scheme: https://blockchain.info/address/1Gh2tRaqaPWFbQVabVD9rPsN1nm9... https://blockchain.info/address/1BYbqzLvAN9PCC4LqNPPG2dHSyTn... I'm going to watch and see what happens to them. If they don't lose their 1 BTC, then that's at least slightly interesting. EDIT: It's been more than an hour; no repayment yet.
I'm impressed by the vanity address, must have taken a lot of cpu power to hash that one out.
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It's beyond blatant; it's unabashed and self-aware. That's interesting - who would make such a thing? Who would pay into it? Will it still work even when people know what it is?
"Every time you send money to the Ponzi address, you'll get back 1.2x what you put in." - honestly, it sounds like a normal Ponzi scheme to me. It's probably targeting people who don't realize that Ponzi schemes by their nature always end up as scams. "All of our activity is is open and public on the blockchain. It's impossible for us to cheat anyone out of their payout without everyone knowing." - completely ignores…
You're cherry picking a quote from the FAQ section answering what the payout ratio is. All prior mentions of the 120% payout are clear that the payout occurs only if people invest after you. Such as the "How does this work?" section:
>Send bitcoin to 1ponziUjuCVdB167ZmTWH48AURW1vE64q, and you'll get back 120% of the deposit. The returns on your investment come from other investors, so as long as people invest after you, your payout is guaranteed!
Or the main page:
>Get 120% back when the next person sends.
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Even if it's not one person depositing a large amount, the backlog must grow larger and larger as time continues, this site actually has to grow exponentially to keep payout times constant.
Indeed, the liquidity here is the popularity of the site itself so as soon as the media buzz fades out the last ones to invest are going to lose everything; just like it always happens in ponzi schemes.
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wow did not expect that, my bad... I just glanced over and saw all the automated responses and figured it's a joke. I'm actually still not convinced it's not an elaborate joke
The lesson - don't leave sarcastic, condescending responses to people before doing your own research.