I am not sure if it is ok so I will not fill this in too much until an admin says it is ok to talk about them here. Is there a way to ping a mod/admin?
Let me fix that title for you.
Ponzi games discussion thread. The bad the very bad and the ugly
We will have to agree to disagree on this. If you do not support any form of them then you can skip this section. Just like I do not support anything with drugs so I skip those threads and coins.
Oh I played the ponzi games a while won some lost some. What I dislike very much is that some of these don’t even acknowledge they are a ponzi. If they are up front and play fair and open I have no problem with these. What I have a problem with is something like the cryptodouble that deny they are a ponzi.
Those are the ones I am talking about. I am only talking about the ones that say they are a ponzi and do not shut down. There are “honest” Ponzi’s but as you have stated there are not so honest (most). Thats why I was wondering if we can opening discuss them. Tell everyone that xyz ponzi is a scam and that ABC is a honest ponzi.
By definition, there is no such thing as a fair or honest Ponzi. They are designed to take as much of peoples money as can be gotten in the shortest period of time. Some very tiny percent will “win” small amounts. Everyone else will lose - 99.5% of the money gets stolen.
There’s a poker saying that applies here:
“If you don’t know who the sucker is that’s playing cards at your table, then it’s you.”
One good rule is if they are mentioned on HYIP monitors it usually is a ponzi that is not declaring as a ponzi.
Well I disagree here. You can run a Ponzi game that is just like playing poker. If the operator tells you the rules and follows them then it is no different than a different form of gambling. In Poker the winner takes people’s money and the house gets a rake. If the Ponzi game is done right the winner (early investors) take the losers (late investors) money and the house rake is the operator’s fees. For example one that I have tried the last week and a half says it is a ponzi. It will run for a week at a time and has a timer so everyone knows. He collects 5% and the winners get 130%. This means 35% of the deposits are will be consider losers. There are better odds then and casino game. Now there are many scammers that use Ponzi as they choice of scam. But there are scams in everything. So as long as the operator runs it correctly it is just a different game of chance.
Because anyone that could actually double your money in ten days wouldn’t be asking you to invest yours in their program, they’d be working on spending the next couple of months becoming very wealthy by doing it with their own money.
The games I am talking about are not saying they can double your money. They say some will win and some will lose. Just like gambling. Yes the ones that say they will take your money and do xyz to make more and return you money those are scams. However the ones that say once there are enough deposits after you than you will get paid. They come out and say that your money is coming from those users behind you.
Actually, the numbers you’re quoting mean that a minimum of 65% of the people completely lose their money, assuming the operator doesn’t just walk with all the cash. Pretty bad odds, actually…
How many Ponzi’s did you know about two months ago that are still in operation today, rather than just disappearing with the money?
These are short run games because Ponzi’s are short lived. And I am only giving any thought of support for those that come out and say what they are and when they will end. You are right it looks like my numbers were off. I was using that is how much you need after yourself to be paid. I come up with just over 42% will be paid. 100 coins in you need 135 more coins to be deposited in order to get out the first 100. So 100 coins paid out and 135 lost. That comes to 42.5% payout, or 57.2% will lose all their coins. This is all affected by rate of return and fees. I am not trying to defend the fake ones at all. But there are a few trying to do an honest game where they are not running away with the funds. They pay who is supposed to be paid.
Hi @tom14cat14 welcome to GH!
Please note that though we won’t object to “discussing” those scams on GH we will not allow links to those sites to be shared or members enticing others to “invest” their money into any of those sites.
There is no “good” ponzi site same as there is no spoon. Their names and ridiculous promises make that very clear.
This thread has been moved from the marketplace to crypto/misc
Please also see:
I disagree here. You say that there is no good Ponzi. Then do you say there is no good gambling? Is poker a bad thing? How about all the other things that people spend money on that others thing is a waste of money. I agree most are bad. 99.9% are bad. However there are some that are showing they are going to run it as a pure gambling game. You know the rules beforehand. There is a set amount of time to deposit so if you think people will come in after you, you deposit. If you do not think that will happen you don’t. I am in no way defending the ones that make fake claims that they will turn your money into something by doing something magical. I am only defending those that don’t run with the money and that lay it all out in front of you.
Did you read About the The Marketplace
I think it’s pretty straight forward and the terms outlined in that thread have been decided on “by the community”. Thus there is no reason to discuss this imho. “We” don’t want this kind of threads on GH. We’re not here to gamble money away or to get rich quick. This forum is about “real crypto” and not gambling and risk-investments or scams.
Now, if you want to “insist” on ponzi and pyramid schemes being advertised or allowed on this forum then the way to do that is to post it here: Would a market place be OK in this forum?
If the community supports your motion and wants to flush their money then everyone can show their support in that thread and “if” there is a majority community vote GH will allow them. Simple as that.
That’s pretty much it yes.