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03-21-2021, 01:32 PM
#151
Re: Is Bitcoin an imploding ponzi??...
Bitcoin ATMs for can't miss deals and romance = #You'vebeenwarned.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Aziz Abdel-Qader
More specifically, they have called Bitcoin ATMs “an ideal money-laundering vehicle” that take advantage of the anonymity related to digital currencies.
In a new twist on online investment fraud, NASAA was concerned that scammers have immediate access to potential victims through their online profiles, which may contain sensitive personal information. As such, con artists can easily lure people and promote fraudulent investment products using a highly targeted pitch.
“Predators will often exploit two powerful human emotions – greed and love. Victims are typically lured in with the idea that they will be a part of an opportunity to make money or in other cases, they will be doing a friend or romantic interest a favour,” she added.
Vancouver Residents Lost $2 Million to Crypto Scams in One Week
Atlanta-Based Bitcoin ATM Provider Launches Over 100 New Machines Across 24 States in the US – News Bitcoin News
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03-22-2021, 10:37 AM
#152
Re: Is Bitcoin an imploding ponzi??...
Way to use a Stimmy...
NYC man sells fart for $85, cashing in on NFT craze
Then again I reckon at least the fart gives someone something to laugh about.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Robert Stevens
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03-22-2021, 10:43 AM
#153
Re: Is Bitcoin an imploding ponzi??...
![Quote](images/misc/quote_icon.png)
Originally Posted by
Australia Five-O
South Australia Police advise to community to:
* Be wary of advertisements found on social media sites offering investment opportunities. Scammers use these platforms to lure potential victims and direct them to fraudulent websites.
* Never allow anyone access to your device to assist with creating accounts. Remote access apps give scammers full access to your phone, your identity, and your newly created cryptocurrency account.
* Do not send copies of identification such as your Driver’s Licence, Passport or Medicare Card to people or businesses that you are unfamiliar with.
* If you have an existing account, protect it by using a unique password, implementing two-factor authentication and keeping Recovery Seeds secure and off your device.
For further information on scams affecting South Australians, please visit
SAPOL -
Scams and cybercrime
Cryptocurrency scam - don't become a victim, South Australia | Mirage News
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03-22-2021, 10:56 AM
#154
Re: Is Bitcoin an imploding ponzi??...
onecoin.eu ponzi scam was correctly identified for what it was with the very first post in 2014. The stories may change a little, but the structure by design always has to be the same.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Lihan Hyunwoo Lee
Of the 136 projects we found, criminal charges have been filed against the only 71 of the teams. Additionally, only 15 projects have had members of their team convicted and sentenced for fraud, money laundering, or other investment scheme charges. The rest of the crypto projects on our list have had no recourse taken against them.
Avoiding Crypto Investment Scams: The Most Definitive Guide | Hacker Noon
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03-22-2021, 11:01 AM
#155
Re: Is Bitcoin an imploding ponzi??...
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03-22-2021, 11:05 AM
#156
Re: Is Bitcoin an imploding ponzi??...
Risk of 100% losses with 100% certainty of zero recovery!
![Quote](images/misc/quote_icon.png)
Originally Posted by
Osato Avan-Nomayo
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03-22-2021, 04:45 PM
#157
Re: Is Bitcoin an imploding ponzi??...
Pesty lil lads.
If you're thinking about sending these folks more more to recover what you've already lost:
![Quote](images/misc/quote_icon.png)
Originally Posted by
Blockchain.com <refund@blockchainpayment.info>
to me
Hello
As part of our ongoing effort to mitigate the consistently increasing number of fraudulent cryptocurrency transactions on the blockchain network, Some of your transactions dated;
1. 2021-01-04 09:42
-22.84480000 BTC
2. 2020-10-21 15:21
-17.000000000 BTC
3. 2020-09-08 07:55
-4.58445172 BTC
The above listed Transactions to a flagged address have been approved for reversal.
Click the link below and input the hashes generated from the transactions listed above and verify.
Blockchain.com - The Most Trusted Crypto Company
Consider they already have the hashes, and these are nothing more than random transactions I've gave them from someone's wallet. Who exactly approved the reversals, three random wallet addressees?
Why not just use their magic powers to reverse the transactions and send me what's left, after all they have "my" wallet.
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03-23-2021, 10:27 AM
#158
Re: Is Bitcoin an imploding ponzi??...
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03-23-2021, 11:00 AM
#159
Re: Is Bitcoin an imploding ponzi??...
As if the restaurants haven't had enough to deal with.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Caleb Lunetta
Joe Marazzito, owner of Sweetwater Bar and Grill in Agua Dulce, said he was preparing for the restaurant’s St. Patrick’s Day crowd Wednesday when he received a call from someone claiming to be from Southern California Edison.
Marazzito said the voice on the other end of the line claimed to be the power company and that unless he paid an outstanding balance of $800 immediately, he’d lose power at his restaurant
Agua Dulce restaurant owner loses thousands to scam, offers warning
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03-23-2021, 11:04 AM
#160
Re: Is Bitcoin an imploding ponzi??...
What will they think of next?
![Quote](images/misc/quote_icon.png)
Originally Posted by
Love Belfast
Pharming:
Scammers threaten the websites you view, close to malware, so instead of giving you a text, they attack the webpage you are viewing. You type in the right website address, but you are redirected to a bogus edition, where you unintentionally enter your login credentials and sensitive data. It would help if you remained acutely aware of what is going on around you. You will automatically presume you’ve arrived at the right website when you typed in the right address bar. These bogus sites have even been dressed up to look much like the real stuff. Have a look just at the blog’s URL. It will appear as a sequence of blocks or as anything identical to the actual name except with keys swapped around or a new spelling, rather than what you think. When you’re signing into domains, keep an eye out for any suspicious website addresses. Updating the processor and anti-virus protection is also necessary.
Cryptocurrency Scams You Should Know About - LoveBelfast
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03-24-2021, 11:19 AM
#161
Re: Is Bitcoin an imploding ponzi??...
Several financial institutions offer "trusted contacts" or similar which could provide valuable protection for elderly family members. It may also make sense to structure limits around transactions. For instance anything more than $10K requires two signatures plus a pinky swear.
Although theft from seniors this often comes at hands of family and acquaintances so choose wisely.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Anne Levin
These tax-related calls are only one form of fraudulent activity of which citizens – particularly the elderly – should be aware. Local police have reported a number of startling scams in recent weeks. The most egregious was recorded last month, when a local resident was convinced to give computer access to someone who stole nearly $300,000 from their bank account.
http://www.towntopics.com/wordpress/...lving-seniors/
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03-24-2021, 11:20 AM
#162
Re: Is Bitcoin an imploding ponzi??...
Seems legit.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Denis Omelchenko
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03-24-2021, 11:30 AM
#163
Re: Is Bitcoin an imploding ponzi??...
If you're overpaid money up front for a supplies or to wrap your car it's a scam. If you have to put up money for a starter kit it's MLM. Both "job offers" likely to be found in a Craig's List or Gumtree near you.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Lethbridge Police
Police say the majority of employment scams saw the victim accept a form of payment before being asked to transfer it to another account of convert the funds to Bitcoin. In the end, the cheque they got would bounce, leaving the victim out of funds.
Other victims were asked to provide banking and personal information, for the stated purposes of direct deposit of wages or ‘HR records’. That information could be collected and then sold to commit more fraudulent activity with the victim’s identification.
LPS issues warning on employment scams | Lethbridge News Now
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03-24-2021, 11:39 AM
#164
Re: Is Bitcoin an imploding ponzi??...
I still see Cryto as a store of value or speculation, as a means of exchange on a broad scale I'm remain at a loss.
A worthwhile read.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Jacob Rozen
One of the biggest false prophets of Bitcoin promote the notion that ‘Code is Law’. Those who repeat this mantra are basically saying that due to the potential monetary applications or the ‘decentralized’ nature of Bitcoin, that we somehow no longer need to rely on the existing legal and financial systems of the world in order to do business!
Code isn’t law—law is law - CoinGeek
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03-24-2021, 11:55 AM
#165
Re: Is Bitcoin an imploding ponzi??...
A few pages back I mentioned every ponzi thread of significance has some pimp or peacock Banners Broker HYIP ponzi scam claiming some variation of it's the real deal. Banners Broker was one of the first treads I remember participating in, and BB was gloriously called to task for the ole fake CEO ruse.
If you find the descriptor "alleged" for founder/creator/CEO/Head Trader/GURU/Project Manager of something you've invested in; as a general rule your money is long gone.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Jordan Lyanchev
Chris Smith.JPG
Chris Smith1.JPG
TARA TALKS: Banners Broker SCAM
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03-25-2021, 12:04 PM
#166
Re: Is Bitcoin an imploding ponzi??...
![Quote](images/misc/quote_icon.png)
Originally Posted by
ribshaw 02/03/2021
This makes premium no sense to me. As I read the underlying value as of yesterday's close for Grayscale Litecoin Trust (LTCN) is $13 but the market price is $233. So a few people are willing to pay almost 18X the underlying value??? Put another way, someone could by almost 18 Lightcoin for the price of 1 LTCN share that holds 1 Lightcoin??
Maybe don't be that guy???
The above is crazy and I have to think at some point all of these products will have to trade much closer to Net Asset Value.
LTCN opened yesterday at $286 and traded as low as $143 today, down 46.84% for the week as I type. Would be bargain hunters grab a crayon; this is still 8X yesterday's holdings per share.
LTC Holdings per Share**
At close as of 03/24/2021
$17.57
Day Change 1.33%
https://grayscale.co/litecoin-trust/
The flagship product GBTC as of yesterday is at a discount of about 16% to holdings per share. Some people are screaming it's a bargain, only hindsight will tell.
Market Price per Share*
At close as of 03/24/2021
$44.98
Bitcoin Holdings per Share**
At close as of 03/24/2021
$52.51
Grayscale'''s Sonnenshein Addresses GBTC'''s Collapsing Premium - CoinDesk
1. Bitcoin could rise and the discount could close.
2. Bitcoin could fall and the discount could widen.
3. Bitcoin could rise and the discount could widen.
4. Bitcoin could fall and the discount could close.
5 The discount could remain steady despite what the price does.
In theory one could short BTC and buy GBTC locking in a profit of 16%. However, as we saw with LTCN there is no reason these products can't trade for exorbitant premiums. Bitcoin could swoon and GBTC could boom causing this seemingly risk free trade to blow up one's account ala Long Term Capital Management.
*It pays to know what and why you're getting into an investment. Don't ever let Wall Street hype, message board tripe, or drunk Santa babbling guide your investment decisions.
Last edited by ribshaw; 03-25-2021 at 12:23 PM.
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03-25-2021, 12:30 PM
#167
Re: Is Bitcoin an imploding ponzi??...
Every good Ponzi scam needs a somewhat believable but hard to verify story. With BTC 24hTrading Volume at $83,463,193,333.05 Bitcoin price today, BTC live marketcap, chart, and info | CoinMarketCap this is neither.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Brian Quarmby
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03-25-2021, 12:34 PM
#168
Re: Is Bitcoin an imploding ponzi??...
Grammy I got arrested Spring Breaking.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Drayton Valley RCMP
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03-25-2021, 12:38 PM
#169
Re: Is Bitcoin an imploding ponzi??...
In this case the caller overrode her credit card company's warning.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Sabrina Barr
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03-25-2021, 01:02 PM
#170
Re: Is Bitcoin an imploding ponzi??...
Here we go again.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Samona Tweed
Who is Action Refund?
Action Refund is an Israeli-based company that is helping victims of online fraud. They are specialized for clients that lost money due to scams on the financial market – in binary options, Forex trading, CFDs, and cryptocurrency trading.
Action Refund Reviews – 2021 - Legal Reader
![Quote](images/misc/quote_icon.png)
Originally Posted by
Negative highlights Scamadviser
The owner of the website is using a service to hide their identity om WHOIS
According to Alexa this site has a low Alexa rank
This website is not optimized for search engines
High number of suspicious websites on this server
We found a negative association on Social Media
actionrefund.com Reviews | scam, legit or safe check | Scamadviser
This is her only article on this website as far as I can see and a very brief Google search yielded nothing more than a similarly named stylish ladies skirt/jacket combo.
![Quote](images/misc/quote_icon.png)
Originally Posted by
About
Samona Tweed is an online legal advocate providing legal advice to online users who have been victims of online scams. She works for a reputable company that aims to help online users get their money back due to all sorts of scams over the web, such as unscrupulous online purchases. Her passion for protecting fellow Millennial consumers prompted her to provide expert advice through guest posts. Samona has also been invited to do virtual counseling to online scam victims.
Samona Tweed, Author at Legal Reader
Guest Posting - Legal Reader
We only accept articles that are non-promotional (no “advertorials”), related to:
Consumer protection
Legal issues in business
Or not.
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03-26-2021, 10:53 AM
#171
Re: Is Bitcoin an imploding ponzi??...
![Quote](images/misc/quote_icon.png)
Originally Posted by
Jeff Bahr
Broadly there are four types of cryptocurrency scams that are proliferating:
• Fake prizes, giveaways, or sweepstakes
• Investment related scams
• Advance fee schemes
• Celebrity impersonations
403 Forbidden
Study Finds Cryptocurrency Scams Surged 40% in 2020, Forecasts an Increase of 75% in 2021 – Security Bitcoin News
![Quote](images/misc/quote_icon.png)
Originally Posted by
A Facebook feed near you
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03-26-2021, 11:29 AM
#172
Re: Is Bitcoin an imploding ponzi??...
This article was sprinkled with enough gloom dust to pique my interest.
![Quote](images/misc/quote_icon.png)
Originally Posted by
@Russian_Market
What has gone wrong when this sort of leverage has been employed is the more apropos query.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Matt Egan
In fact, FXCM said it has a negative equity balance of $225 million. That's money that customers owe to the company.
The FXCM situation raises questions about the assets clients have at the troubled broker. Since FXCM is a currency broker, most of those assets are futures, options and swaps contracts -- none of which are protected by insurance if a broker collapses.
Swiss shock crushes US currency broker
This is insane. A relatively small intraday move against you will wipe out your position. The other issue is one of counterparty risk assuming you're on the right side of the trade when all those at 125X just blowed up. Where are the reserves coming from to pay you?
US exchanges offering margin on Crypto products are requiring about 50% put up on each trade. Fuddy Duddies that just don't get the new paradigm All.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Binance
The charts in this article show and interesting picture of forced selling when the unforeseen hits.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Jill Mislinski
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03-26-2021, 11:36 AM
#173
Re: Is Bitcoin an imploding ponzi??...
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03-27-2021, 01:06 PM
#174
Re: Is Bitcoin an imploding ponzi??...
Of all the crypto scams this site has covered one thing remained clear, it virtually always ended better for people that simply bought crypto on their own. If they wanted to trade, again did so on their own. Buying Bots, plug and play mining stories, funding super traders, or any number of other schemes has proved a mug's game. Proceed at your own peril regardless of what you choose, crypto isn't your nanna's insured xmas club.
As I've previously alluded to in this thread I find the pricing discrepancies in crypto very compelling. For further reading:
Riskless arbitrage financial definition of Riskless arbitrage
Risk Arbitrage Definition
![Quote](images/misc/quote_icon.png)
Originally Posted by
Matthew Leising
A swathe of shadow banks in the $1.6 trillion cryptocurrency market have figured out how to generate returns of 12% with
minimal risk:
In this case, they’re lending to hedge funds that need cash to buy Bitcoin for a trade that is
almost guaranteed to pay out at annualized returns that have recently hit 20% to 40%
While those willing to lend cash are being paid well for the risk they are taking, the shadow banks in crypto lack FDIC insurance and other customer protections. There is also little transparency in this part of the financial world, Dorman said. “All these guys are just hedge funds playing a bank on TV,” he said.
“Counterparty risk is real.”
On March 15, Bitcoin traded for $56,089 while the July future contract on CME Group Inc. was at $60,385.
A hedge fund could buy Bitcoin at that spot price and sell the July futures, meaning the derivatives would gain value if Bitcoin fell. Doing so on March 15 locked in a 7.7% spread between the cash and futures price.
Crypto Shadow Banking Explained and Why 12% Yields Are Common
From a scam standpoint, most people have no way of knowing if a lender allegedly paying 12% is really lending or a trader claiming to make a similar trade to the above is trading.
"Minimal Risk" and "Almost Guaranteed" are not the same as No Risk and Guaranteed. Even if the fund is actually trading; Long-Term Capital Management - Wikipedia provides a classic example of a strategy margined to the max. Just because virtually identical assets were being traded didn't mean prices couldn't massively diverge. Years of steady profits wiped out in the blink of an eye. This again can provide a scammer a prefect blow off, sorry bad markets have to shutter the fund. Better luck next time.
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03-27-2021, 01:16 PM
#175
Re: Is Bitcoin an imploding ponzi??...
Better this than sending your money to some Instagram Guru.
![Quote](images/misc/quote_icon.png)
Originally Posted by
Jason Zweig
Like many scam victims, some of these people will learn lessons they can build on for the rest of their lives. Far too many will end up like the same mopes that continue to fall for one empty promise after the next.
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