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Juniorokogun

Bitcoin and Ponzi Scheme

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I have overtime frowned at all these "Quick to get Rich Syndrome" AKA Ponzi schemes. It came out last year and alot of individuals became happy and went forward to invest their Bitcoin in the Ponzi schemes. Within a short while there was a collapse and the negative feedback and effect was massive. Individuals will continue to invest in these Ponzi scheme and they don't really care the risk and repercussions. What's your take on Bitcoin with Ponzi?

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= Excellent topic these two normally go hand in hand, I think through the boom in the bitcoin fad alot of people are now interested in

getting and collecting bitcoins this gives scammers and ponzi schemes an opportunity to jump in and take advantage to those who don't know the

legit list of bitcoin approved websites or programs. There should be one collective list of certified bitcoin merchants and anyone new coming on board

should be on that whitelist just like on pd :P but then the users and customers would know the entire list of legit sites.

EVERYONE WANTS TO GET RICH FAST WITH BITCOINS ! LOL

axchris.

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You can't help but watch people get greedy and trust these sketchy and ponzi schemes with their BTC and lose it all when the site owners run away with their money. As usual these things are inseparable and you need to have prior knowledge in what you're investing or else you will always be at risk.

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1 hour ago, axchris said:

= Excellent topic these two normally go hand in hand, I think through the boom in the bitcoin fad alot of people are now interested in

getting and collecting bitcoins this gives scammers and ponzi schemes an opportunity to jump in and take advantage to those who don't know the

legit list of bitcoin approved websites or programs. There should be one collective list of certified bitcoin merchants and anyone new coming on board

should be on that whitelist just like on pd :P but then the users and customers would know the entire list of legit sites.

EVERYONE WANTS TO GET RICH FAST WITH BITCOINS ! LOL

axchris.

Primedice.jpg

Exactly bro, I have friends and family members who lost a fortune to these sites, and it has turned to oh had I known. That won't be our portion. Thanks mate

1 hour ago, 420BlazeItFgt said:

You can't help but watch people get greedy and trust these sketchy and ponzi schemes with their BTC and lose it all when the site owners run away with their money. As usual these things are inseparable and you need to have prior knowledge in what you're investing or else you will always be at risk.

Greed has been a key factor in determining what they do with their coin, sadly that shouldn't be the "Modus Operandi"

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3 hours ago, axchris said:

= Excellent topic these two normally go hand in hand, I think through the boom in the bitcoin fad alot of people are now interested in

getting and collecting bitcoins this gives scammers and ponzi schemes an opportunity to jump in and take advantage to those who don't know the

legit list of bitcoin approved websites or programs. There should be one collective list of certified bitcoin merchants and anyone new coming on board

should be on that whitelist just like on pd :P but then the users and customers would know the entire list of legit sites.

EVERYONE WANTS TO GET RICH FAST WITH BITCOINS ! LOL

axchris.

 

lol most of people investing in pozis are aware of that it is a ponzi scheme. I do invest in ponzis like a lot, short and longer terms. Of course there is a risk of being screwed before you even cash out your deposit but at the end I am on pretty good profit with those investments. Those were popular even when bitcoin wasn't around so it has nothing to do with bitcoin appearance. 

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2 hours ago, RollingYourHead said:

lol most of people investing in pozis are aware of that it is a ponzi scheme. I do invest in ponzis like a lot, short and longer terms. Of course there is a risk of being screwed before you even cash out your deposit but at the end I am on pretty good profit with those investments. Those were popular even when bitcoin wasn't around so it has nothing to do with bitcoin appearance. 

fair opinion I accept all sides of the dice lol I would also never try to put myself into your experience and say my way is the gospel lol :) Have good rolls :)

axchris

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I steer clear of Ponzi schemes - it's effectively gambling, but with unknown odds.

You don't know when it'll go scam or how many people it will attract, meaning you can't make reasoned decisions on how much to put in or when to get out. Not the best scenario!

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6 hours ago, Serlite said:

I steer clear of Ponzi schemes - it's effectively gambling, but with unknown odds.

You don't know when it'll go scam or how many people it will attract, meaning you can't make reasoned decisions on how much to put in or when to get out. Not the best scenario!

True Sterlite, I had a brother who told me about one of these Ponzi schemes, gave me their telegram page, cos it was yet to start, they kept given hope and I was very keen to know what they wanted to do. I wasn't convinced so I was observing, unknown to him that it was a planned work from the beginning. 

The First 20 person had already planned to share the btc among them without planning for the next 21-40 members. Immediately it was lunched, it was going on well, and as I predicted, it collapse when it got to that 21 person., So they were scammed. Lesson well learnt by that my brother. 

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On 7/13/2017 at 14:33, BitsUniverse said:

Its popular to beginners because they dont know whats a scam and not. I am sure that ponzi schemes will continue to hurt bitcoin in the future.

I agree with this. No matter how much awareness will be made known that these sites exist and how they operate. People would fall for it. Greed is also a major factor. Because even people who are aware that it is a Ponzi scheme, they still go for it. Others even work around it to be able to possibly gain from it. 

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Most of the victims of ponzi schemes are beginners on the crypto world. They think it is easy to gain money via cryptocurrency especially with Bitcoin. Most of the cases are with mining sites and investment sites. I've know a couple of friends that have been a victimized so I was really careful with such ventures.

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2 minutes ago, 1RegisterNow said:

I learnt to avoid hyips and other ponzis before i learnt about bitcoin. It looks great in the beginning but after some time it can't sustain itself and site is closed for whatever reason.

Totally agree.  Should be invested only in proven.

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12 hours ago, zale023 said:

Most of the victims of ponzi schemes are beginners on the crypto world. They think it is easy to gain money via cryptocurrency especially with Bitcoin. Most of the cases are with mining sites and investment sites. I've know a couple of friends that have been a victimized so I was really careful with such ventures.

i was agree on you. since i was on newbie stage i really like to join on ponzi. sad to say i always scam many times but now i wake i never join any ponzi or investment site lesson learn. 

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On 8/22/2017 at 10:50, 1RegisterNow said:

I learnt to avoid hyips and other ponzis before i learnt about bitcoin. It looks great in the beginning but after some time it can't sustain itself and site is closed for whatever reason.

Sites like these are easy to spot. I suggest that we should be far from it as possible. 

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4 minutes ago, merlyn22 said:

i was agree on you. since i was on newbie stage i really like to join on ponzi. sad to say i always scam many times but now i wake i never join any ponzi or investment site lesson learn. 

Exactly. That's how we grow in the crypto world. Just explore with care and gather useful information to grow further until we don't have to suffer from those menace.

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