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But it's not completely honest. The FAQ says "Every time you send money to the Ponzi address, you'll get back 1.2x what you put in." But by the nature of thes
by powera 13y ago
But it's not completely honest. The FAQ says "Every time you send money to the Ponzi address, you'll get back 1.2x what you put in." But by the nature of these scheme, the last 15% of people won't get their money back.
- BlackDeath3 13y agoIt also not only plainly labels itself a Ponzi scheme, but explains that you'll only get a return if others invest after you.
- treekiller 13y agoIt could call itself multi-level marketing and be golden. You just need to resell something tangible, like TF2 hats.
- vidarh 13y agoPonzi/Pyramid schemes often are honest about this. What they are usually not honest about is the mathematical impossibility of it being possible for it to keep going very long. But some simply bet on people being greedy enough to take the chance that they are getting in early enough... As such I think it is good commentary on Bitcoin and cryptocoins in general - a lot of people do appear to enter expecting a pyramid, and just hoping to get theirs before it collapses.. The question is what proportion they make up.