Earlier quoted context omitted.
Just like Social Security, really.
I mean that fiat will continue to work as long as people believe in it. Social security, now that I think about it, does sound much like a Ponzi scheme.
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Bitcoin Ponzi scheme
201–210 of 306 posts
Re: Bitcoin Ponzi scheme
#202I threw some old satoshi-dice coins at it (0.25) and was saddened at the header mocking that "The experiment is over.".
1.5 hours later 0.30BTC showed up in my wallet! Wow, did not expect that!
Re: Bitcoin Ponzi scheme
#203Just received my 1BTC back. The "experiment is over" seems to be legitimate.
Re: Bitcoin Ponzi scheme
#204The experiment is over. We will pay back everyone we can. We are not making money from this. And it's down.
New address: 1PonziAwQpnfj15Br4YFJHygWtd5LQKgN1 (without 1Ponzi in the wallet is not legit).
Interesting... This may be the first time someone's tried to use HN as a platform for phishing.
Re: Bitcoin Ponzi scheme
#205The experiment is over. We will pay back everyone we can. We are not making money from this. And it's down.
> We will pay back everyone we can. We are not making money from this. Paying people back can be done instantly. Adding 20% needed a wait. If they stopped the experiment an hour ago, I'd say my coins should have returned by now :(
Waiting out the confirmations does impose a pretty high floor -- see how many of the transactions are still unconfirmed.
Re: Bitcoin Ponzi scheme
#206No one finds this repulsive? People will lose money to this. Yes, they are dumb, yes it is obvious. But those who participate are still morally complicit. Enabling others who suffer from serious issues (addiction, gambling) seems like a pretty shitty thing to do.
Just because your expected return is negative doesn't mean it's dumb to partake in it. Nor is the outcome obvious.
The site wasn't created for the purpose of hooking in gambling addicts, so I see no problem with it. Also, you have no evidence that an explicit bitcoin ponzi scheme draws in gamblers who put in more money than they can afford to lose.
Re: Bitcoin Ponzi scheme
#207A few small teaks could make this into a money laundering / mixing money trail tool.
Re: Bitcoin Ponzi scheme
#208Why bother with a faceless ponzi scheme? Send your bitcoin directly to me, and I will invest it by hand, making sure to maximize your return: 1HbNxRhrv5Jocr7Q9ZqbbqCwuNNy4UsR77 This is totally legit. Seriously.
I have sent you $50 though coinbase.
I expect you to honor your word.
Return address: 1JEGu8qiaKbLgheAWCjRkeZNyEqhhaFVY3
Re: Bitcoin Ponzi scheme
#209Re: Bitcoin Ponzi scheme
#210So, ponzi.io is a Ponzi scheme squared?