Dislikes Dislikes:  0
Page 4 of 9 FirstFirst ... 23456 ... LastLast
Results 76 to 100 of 202

Thread: Is Bitcoin an imploding ponzi??...

  1. #76
    Join Date
    Jun 2013
    Posts
    21
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Read from the source.
    Bitcoin - Open source P2P money
    Home | ethereum.org

    The rise in value is not a coincidence. It's booming because crypto is carrying a lot of infrastructure on its back. Movement and governance of huge data loads. Inventory tracking and such. IoT projects and vast game universes.
    Automated smart contracts and quick transfer of ownership.

    This is not an MLM with all promise and no actual value.

    PS. I would totally look better as a Sally than you could ever dream of becoming because I'm not a gargantuan soggy couch potato like you.

  2. #77
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by Sally Bart Mall Cop
    Drained wallets are not bitcoins fault. It's user error. It is sloppy security practices on your side.
    Your wallet is only as secure as you make it.
    Which I would not doubt in your case as you are a complete moron. Maybe JesusSaves777 is not a really good password.
    My password is Moses-Invest$419, hopefully the addition of a random symbol will be up to snuff.

    Quote Originally Posted by The Po Po
    German authorities who seized a convicted hacker’s wallet containing over 1,700 bitcoin (BTC) – worth at least $64.7 million at today’s prices – have hit a brick wall when trying to access the coins.

    Hacker Refuses to Hand Police Password for Seized Wallet With $6.5M in Bitcoin

    Quote Originally Posted by Sally Bart Mall Cop
    Losing your wallet to bad actors is a common thing. Not more or less common than other money handling accounts.
    Yes, and when your money is held by many custodians there is protection against hacking.

    Quote Originally Posted by The Simple Dollar

    However, most brokerage firms do have policies stating that they will reimburse you for any amounts lost to “unauthorized activity” as long as you take some basic precautionary steps. These steps vary from firm to firm, but generally include the following:

    Creating strong passwords and security questions
    Keeping your login and account information private
    Keeping contact information up to date
    Monitoring your accounts, statements, and transaction confirmations on a regular basis
    Notifying the brokerage firm promptly of any suspicious activity
    Cooperating with the brokerage firm during any investigation of suspicious activity

    For example, you can see Vanguard’s policy here, Schwab’s policy here, and TD Ameritrade’s policy here. You should also be able to look up your current custodian’s “fraud policy” by Googling it.

    As we'll see in our next post there's are valid reasons to have your money held with traditional custodians. While I don't know the details, I'll bet there will be protections built in for some portion of the above.

    Quote Originally Posted by Bitwise ETF Offering
    If approved by FINRA, shares in the Bitwise fund would be available for trading in traditional brokerage accounts and could be held with traditional custodians, according to the release.

    Bitwise Files for Approval to Publicly Trade Its Bitcoin Fund
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  3. #78
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    This is exactly why you don't hand money over to an investment guru and instead use an independently audited third party custodian.


    Quote Originally Posted by US DOJ

    Between 2017 and 2020, Qin operated two funds, Virgil Sigma Fund LP of New York and VQR Multistrategy Fund LP of the Cayman Islands. During that time Qin lied to investors and siphoned off the roughly $90 million from Sigma to fund a lavish lifestyle, per the release.

    He further lied about the performance of the Sigma fund and the whereabouts of investors’ money, as well as attempting to cover his fraud by paying back Sigma investors by dipping into VQR funds.

    Crypto Hedge Fund Founder Pleads Guilty to $90M Fraud
    That OZ, he calls everything a scam.

    Quote Originally Posted by Behind MLM
    If Swag was actually generating ROI revenue via mining, there’d be no need for Estonian shell companies and corporate secrecy. Swag would also be registered with CONSOB, Italy’s SEC equivalent.

    Swag is also not registered with the CNMV in Spain, meaning at a minimum it is committing securities fraud in its two primary investor markets.

    As with all MLM Ponzi schemes, once affiliate recruitment dries up, so too will new investment

    Swag Review: Bitcoin mining Ponzi scheme
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  4. #79
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Quote Originally Posted by Sensitive Sally
    Maybe if you weren't a complete imbecile you would not call a man Sally.

    That and your assumption that someone is dumber than you sounds kind of misogynist.

    It might hurt your feelings but plenty of women are smarter than you.

    Not that it's a hard task anyway.

    PS. I would totally look better as a Sally than you could ever dream of becoming because I'm not a gargantuan soggy couch potato like you



    Quote Originally Posted by Hey Alexa

    What does it mean to call someone a Sensitive Sally?
    Quote Originally Posted by Alexa

    Sensitive sallies get emotional very quickly, they don't take critisism very well

    What does "if you are a sensitive sally" mean? - Question about English (US) | HiNative

    Urban Dictionary: sensitive sally

    An overly emotional and easily deflated male who cries a lot.


    Quote Originally Posted by Hey Alexa

    Could you use Sensitive Sally in a sentence.
    Quote Originally Posted by Alexa
    Cloudchecker is a Sensitive Sally.
    Quote Originally Posted by Hey Alexa

    You can't use the definition in the sentence.
    Quote Originally Posted by Alexa

    Shut up Ribbie you elementary school educated slovenly obese imbecilic man child that thinks whitepaper is the roll hanging in his outhouse!

    Quote Originally Posted by Sensitive Sally
    Use a sandbox browser for all I care.
    Like where I play mash-up with my Tonka trucks? Feels so good to finally get one.


    I would suggest that you google the Dunning Kruger Effect as I think you are a little less clever than you believe. You may be the only person not in on the joke that I'm trolling for your petulant reactions.

    On that note, over the weekend I will decide a new pet name for you...

    The first being Petulant Percy.
    The second being Dunning Invest Crypto Kruger which I will shorten only if a clever acronym exists.
    Last edited by ribshaw; 02-05-2021 at 02:19 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  5. Likes 1 Member(s) liked this post
  6. #80
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Sadly both of these articles require a subscription to read beyond the first paragraph or getting up before I get up to get dibs on my neighbor's paper.


    Elon Musk’s Dogecoin Tweeting Has Believers Barking for More
    Cryptocurrency that started in 2013 as a joke is suddenly worth a total of more than $6 billion

    Elon Musk’s Dogecoin Tweeting Has Believers Barking for More - WSJ

    Is GameStop a Bubble? History’s Spectacular Crashes, From Tulips to Beanie Babies. - WSJ


    Tesla buying $1.5 billion in bitcoin

    Inline XBRL Viewer


    Quote Originally Posted by Ethereum Futures on CME
    The cryptocurrency has more than tripled in value since the CME announced plans to list futures contracts on Dec. 16, mimicking bitcoin’s surge from $6,000 to $19,783 seen in the weeks leading up to Dec. 17, 2017, when the exchange began trading bitcoin futures. Ethereum Futures Are Now Trading on CME
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  7. #81
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    What's another $70M based on fake statements?


    Quote Originally Posted by Nathan DiCamillo
    Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million.

    The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged.

    Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  8. #82
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Yeah, I'm sort of fond of the Sally moniker.

    Quote Originally Posted by If Strawman Sally and Ad Hominem Sally had a love child
    Coinmarketcap is actual real time data with charts and numbers.
    Somehow I trust raw data more than your incoherent drunk Santa blabbering.
    A big problem Sally is virtually all of your comments other than blubbering about how dull-witted I am have nothing to do with anything I've said. Nowhere have I ever said someone can't get real time data or charts. There's is a wittle bitty button on the bottom of the page that says "Reply with Quote" try using it sometime so as not to continually misrepresent my statements.

    Quote Originally Posted by Straw Man

    Straw man - Wikipedia

    A straw man (sometimes written as strawman) is a form of argument and an informal fallacy of having the impression of refuting an argument, whereas the proper idea of argument under discussion was not addressed or properly refuted.[1] One who engages in this fallacy is said to be "attacking a straw man".

    The typical straw man argument creates the illusion of having completely refuted or defeated an opponent's proposition through the covert replacement of it with a different proposition (i.e., "stand up a straw man") and the subsequent refutation of that false argument ("knock down a straw man") instead of the opponent's proposition.

    Quote Originally Posted by Barefoot Sally
    The difference between us is that I've actually put the price of a good pair of shoes into ETH right after my last reply.
    I'm sure Buster Brown is all weepy about $39.95 in lost revenue.

    The differences between us are much more significant than that. Unfortunately you seem to not comprehend that not everyone should be investing; especially if they are doing it based on message boards. Lost in the handful of success stories of the Gamestop squeeze will be bankruptcies and suicides from people that were too ill informed to play the game. I could give two shits if some rich assholes lose their money, but not so much for a family that just lost it all based on naivete and a few tweets.



    Quote Originally Posted by Strawman Sally
    But be on the safe side and put all your money in the bank in a savings account. They offer a generous 1% per year. A $1000 investment so later you can afford a haircut.
    Yet another Strawman.

    Let's say a retiree has $1M in a stock portfolio yielding 3% that 9 months ago was worth $500K and they were scared to death. Another 50% drop would wipe out 10 years worth of income factoring in dividend increases (if any) with no guarantee of a recovery.

    What of all the people that lost their jobs due to a once in a century pandemic that were forced to sell 401ks at the bottom? Did your precious BTC during the depths of the last panic not crash from $10k to $3.5K? Did it not rise with everything else? Someone must have sold at the bottom.

    For many people the safety of a bank account is exactly where they should be.

    Quote Originally Posted by Sally the Barista
    I'm gonna have so much fun when I return to serve a tall glass of "I told you so".
    To recap your timing at RealScam:

    You joined a Ponzi Scam

    You first showed up in this thread two days before BTC peaked and proceeded to lose around 80% of its value peak to trough

    When BTC represented a good long term HODL here you are talking trading.

    Quote Originally Posted by Trading Sally

    01-13-2019

    If you guys decide to trade well I trade too with more or less success.
    Unicorn Piss.JPG

    After a 100% or more rise from the March 2020 lows in many asset classes here you are again. Maybe Crypto has suddenly become decoupled from other asset classes? When the next panic hits people will dive deeper into BTC driving the price even higher? Or will they need to sell BTC to meet margin calls and general living expenses as they did in the last panic?

    Most assets in general look very much to me like a debt infused bubble; when it ends is anyone's guess. If you were here addressing position sizing and risk management with more than a trite egg comment this would be a much more useful conversation. Little is truly one size fits all Sally. However, considering your timing thus far I hope you get the W on this one.
    Last edited by ribshaw; 02-08-2021 at 03:34 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  9. Likes 2 Member(s) liked this post
  10. #83
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    This is not much different than GreenDot card scams of yore.

    Quote Originally Posted by Po Po
    The caller falsely identified himself as a police officer and told the female her bank account was about to be frozen and she should go and withdraw all the money,” police said.
    Story continues below advertisement

    “She was also warned not to discuss this with anyone as it would jeopardize an ongoing investigation.”

    Police said the woman withdrew $6,200 from her account and then deposited it into a Bitcoin machine at a downtown business.
    Another Guelph resident falls victim to Bitcoin scam: police | Globalnews.ca

    Gamestonk price day of Elon's tweet $148, price the next day $348. $48.43 as I type.

    https://twitter.com/elonmusk/status/...642703?lang=en
    gme interactive chart - Google Search



    I mixed on Elon's responsibility to educate his followers. Many people don't care, are oblivious, or self-servingly time their comments. As with GME investors by default ultimately must take ownership for better or worse.

    Ethical quandaries aside this link has some tips on wallet security.

    Quote Originally Posted by schamotta
    said Musk should be taking the time to educate his followers on everything there is to know about crypto and the risks around fraud.

    “Any of these celebrities getting involved in this tend to give [bitcoin] greater credence and more respectability; that does persuade people who are on the sidelines to join it,” he said.

    “Unfortunately, Mr. Musk is not living up to his responsibility. As a very influential person, he’s failing to ensure that he does protect people against loss.”

    Growing interest in cryptocurrency is leading to more scams
    Last edited by ribshaw; 02-09-2021 at 02:06 PM.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  11. Likes 1 Member(s) liked this post
  12. #84
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    But I saw the guy on TV and the newpaper; Shirley the reporters fact checked.

    Quote Originally Posted by Shaurya Malwa

    The 24-year-old Qin managed and ran Virgil Capital, his crypto fund since 2016, supposedly handling millions of dollars worth of client investments. His falsely marketed profits landed him a spot on CNBC as a financial whizkid and even a feature on the reputed financial publication WSJ.

    24-Year-Old Trader Convicted After $90 Million Crypto Scam - Decrypt
    This sounds a little more sophisticated than a weak password and why I still insist on a rotary phone.

    Quote Originally Posted by Eurpol
    In a SIM-swapping attack, criminals can gain control over a SIM - the small computer chip that carries a phone number used to identify a customer on a telecommunication network. Usually a phone company is tricked into deactivating a working SIM and transferring its functions to one controlled by the hackers.

    "This enabled (hackers) to steal money, cryptocurrencies and personal information, including contacts synced with online accounts," Europol said in a press statement detailing the operation.

    Europol: 10 held for alleged $100m cryptocurrency theft from celebs, others
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  13. #85
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Like the time Mrs. Ribshaw took the keys to my El Camino.

    Quote Originally Posted by Elon Musk
    Saying Freewallet’s app “sucks,” Musk stated Wednesday his belief that crypto users should avoid wallets that do not give them access to their private keys.

    The sentiment has given rise to the popular expression, “Not your keys, not your coins.”

    Elon Musk Bites Back at Freewallet After Dogecoin Tweet
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  14. Likes 2 Member(s) liked this post
  15. #86
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    If memory serves this exchange had insurance to protect users against this sort of thing and users will be made whole. It pays to call the insurance company directly and verify there is in fact insurance and follow up periodically that premiums are current. We've seen plenty of scams claiming deposits and or investment losses are fully insured by Lloyds or some other nonsense.

    Quote Originally Posted by Mackenzie
    "A best practice is not to store and hold large amounts of funds in hot wallets on exchanges but rather transfer to either a cold hardware wallet (that has appropriate recovery codes set and stored securely) or to a standard bank account as the case may be on completion of the exchange transaction,” Brad Mackenzie, CEO of IT security firm Clear Skies

    Yet another crypto exchange has fallen victim to a massive hack | TechRadar
    Lot's of opportunities abound to invest your crypto...

    Quote Originally Posted by Daniel Villarreal
    Yearn.finance allows its users to deposit funds in collective digital pools called "vaults." The vaults are then handled like actively managed mutual funds, with the funds used in other "decentralized finance" or "DeFi" offerings with the goal of generating additional earnings.
    Hacker Steals $2.8 Million from Cryptocurrency 'Vault' Despite 'Unhackable' Blockchain Security
    Or steal your keys...

    Quote Originally Posted by Mohmmad Musharraf
    Yearn Finance doppelganger scam tries to trick visitors out of their keys

    Users who are new to crypto and are not aware of the importance of keeping their private keys “private” may easily fall for these scams and give the scammers easy access to their funds.
    Yearn Finance doppelganger scam tries to trick visitors out of their keys
    Money Printing solves everything until the day it doesn't.

    Quote Originally Posted by Helen Partz
    Yearn announced Tuesday that they opened a Maker vault with YFI tokens from the treasury and minted 9.7 million DAI tokens from the vault to keep the yDAI vault intact. Using borrowed money allows the project to reimburse users without taking a hit to the treasury, either due to possible YFI appreciation or by gradually repaying the debt with protocol revenue. The team said that this is a one-off occurrence, as they expect users to hedge their own risks by purchasing coverage from Yearn ecosystem member Cover, which also got hacked recently.Yearn.Finance puts expanded treasury to use by repaying victims of $11M hack
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  16. Likes 1 Member(s) liked this post
  17. #87
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Before we get to the good news...

    Quote Originally Posted by Cloud Mining Scams

    Bitcoin mining provides a way to get new coins without exchanging or buying them. However, mining is a resource-intensive activity. New Bitcoins mining is a unique process that requires massive amounts of electricity and processing power. As such, you need a lot of money to mine Bitcoins.

    But, regular users can rent server space and start to mine Bitcoins. You will come across companies that provide lifetime contracts to ensure the same costs. These promise investors outstanding returns. But, as Bitcoin mining becomes more complicated, the investment returns continue to decline.

    What’s more, some companies are not transparent when making claims about their diminishing returns and actual costs. Some will even run Ponzi schemes with massive losses. Investors should consider the available opportunities carefully and analyze the associated costs and risks before investing.

    Common Bitcoin Scams to Avoid - Tech Guide
    Quote Originally Posted by KTVU

    In the SMS, the scammer told him that there were suspicious activities in his T-Mobile account.

    In fact, the fake mobile provider representative claimed there were attempts to change his account’s password. The scammer asked him to call a phone number, claiming it was an official phone line of T-Mobile.

    However, the impersonator just used such an instance to elaborate on the scam. In fact, he received a new passcode to an old email address he used for a bitcoin wallet he held. Police believe that scammers also managed to hack the email account of the victim.

    California Man Loses $27,000 in Bitcoin After Falling Prey to Crypto Scammers – Security Bitcoin News
    Quote Originally Posted by Po Po

    Sioux Falls Police Department spokesman Sam Clemens said a 67-year-old woman struck up a friendship with someone on Facebook. After a few months, the suspect asked the woman to send Bitcoin.

    67-year-old woman scammed out $7,000 worth of Bitcoin | KELOLAND.com
    Quote Originally Posted by Mikhail Sytnik
    According to Kaspersky researcher Mikhail Sytnik, scam artists are now entering Discord servers and are sending private messages to users that appear to be from new, up-and-coming cryptocurrency exchanges.

    As new projects and ones that want to "support traders in difficult times," these 'exchanges' try to attract users with promises of free cryptocurrency. And, of course, the recipient is the lucky one chosen for free BTC or ETH.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  18. #88
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    $400,000 easy peasy lemon squeezy!!!

    Quote Originally Posted by Jen Rogers
    According to Ark’s Big Ideas for 2021, if all S&P 500 companies were to allocate 1% of their cash to bitcoin, its price could increase by approximately $40,000. If those companies moved 10% of their cash to bitcoin, Ark sees the cryptocurrency climbing by $400,000. Ark's Cathie Wood explains how bitcoin could increase by $400,000
    Back to our normal dour programming! ther than dumping a long time spouse to date a stripper there's hardly anything more concerning to me than a ton of press for a hot money manager.


    Quote Originally Posted by Jen Rogers
    By any measure, Ark Invest is having a spectacular run. With tens of billions of dollars flowing into her thematic ETFs and returns that easily surpassed 100% last year, Cathie Wood has gone from being a relatively unknown investor to one of the world’s best known money managers. Cathie Wood: A typical day for Ark Invest's star stock picker
    After massive gains people plow money in.

    Quote Originally Posted by Evie Liu
    Total assets under management are now at nearly $27 billion, up from $17 billion at the end of 2020. The ETF closed down 1.2% on Wednesday.

    ARK Innovation has taken in the most new assets in 2021 among almost all ETFs, behind only the Vanguard S&P 500 ETF (VOO).
    Red-Hot ARK ETFs Add $12.5 Billion in New Cash in 2021 | Barron's
    TSLA is the top holding ARKK - Innovation ETF by ARK Invest. There's a bit of a tickle fight brewing with people who saw TSLA as an Alt-Energy play and their opposition to Bitcoin's use of energy. A few other smart Alecs have chortled TSLA made more on it's BTC purchase than during it's entire history as a public company.

    None of the above constitutes a scam in my opinion, just an observation on how many people make investing decisions. Often it proves a hard lesson on easy cash.

    This on the other hand circa 2018 No, ”Elon Musk” on Twitter Is Not Giving Away Any Cryptocurrency – Bitcoin News
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  19. Likes 1 Member(s) liked this post
  20. #89
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Any % daily return offered prospectively is all you need to smell a rat.

    Quote Originally Posted by Terence Zimwara

    MTI had taken in $589 million from more than 471,000 deposits.

    MTI succeeded in luring unsuspecting victims by promising consistent daily returns of 0.5%.

    Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million – Regulation Bitcoin News

    Every Ponzi works something like this...

    You put in a little and the promoter pays you back with your own money. Some promoters initially might even reach into their pocket to really set the hook.

    Oh I'm (or others on Facebook) getting paid, this must be legit.

    You put in a lot and decide to compound your profits.

    The promoter makes fake statements showing your "earnings" and initially promptly pays withdrawal requests.

    You get your (former) friends and family involved.

    Major promoters move to the next big thing.

    Recruiting dries up.

    Excuses like: moving to new servers, Know Your Customer requests, hackers, paralysis of all but one finger, Dengue Fever, growing pains, ETC.

    Withdrawals are paused, fresh money still welcome.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  21. Likes 1 Member(s) liked this post
  22. #90
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    If you can't meet someone in person you're chatting with online don't send them money. You're no more in a relationship than you are in the graces of an oil contractor, soldier stationed overseas, Nigerian Barrister, or trading wizard.

    Probably don't send money after you've met either, but not my place to nag.


    Quote Originally Posted by BBB scam alert

    One victim reported to BBB Scam Tracker that after talking to a woman on Tinder, she persuaded him to invest on a fake trading cryptocurrency platform. When he tried to withdraw his money, the funds were automatically reversed back into his account. The feature was allegedly a “system security” to help prevent money laundering. The victim was then told the account needed to have a minimum balance of $3,000 before he could withdraw funds. After trying several times, the victim was unable to recoup his money.

    BBB scam alert: Swiping right on Tinder? Watch out for cryptocurrency scams | Business | marshallnewsmessenger.com
    Quote Originally Posted by This is Money
    He persuaded Vivian to 'invest' a total of £100,000 trading cryptocurrencies

    How looking for love robbed Vivian of PS100,000 | This is Money

    Sweetheart Scammer or did this really hot person pick me above all others?
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  23. Likes 1 Member(s) liked this post
  24. #91
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Whether this hack is "real" is immaterial if it's your money in flux.


    Quote Originally Posted by Racheal

    Another hack rocks the decentralized finance (DeFi) space. This time CREAM Finance has allegedly lost about 13,000 ETH, valued at about $24 million, to hackers.

    CREAM Finance Hack Causes Price To Tumble 30%! - Finance and Funding - Altcoin Buzz
    Position sizing and risk of ruin matter when speculative investing. While risk tolerance varies from person to person it needs to be a consideration for those that don't want to get knocked out of the game.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  25. Likes 1 Member(s) liked this post
  26. #92
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Markets showed Zero Pity buying Kitty.

    To sell naked options you need to sign a financial disclosure that says something to the effect of: I have a ton of assets, make a ton of money, have detailed knowledge of trading, and years of market experience.

    Even more ironic is this cat was betting against Roaring Kitty's postings about GME going up.

    and Zero Pity fading Kitty.


    Quote Originally Posted by Jonathan Ponciano

    The plaintiff, utilized $200,000 in collateral to sell call option contracts for GameStop shares on January 26, when the stock was below $100, the suit says; shares more than doubled the next day, prompting Iovin to buy back his options at sky-high prices of $300 and $315 and therefore triggering "substantial" losses.

    Roaring Kitty Accused Of Fraud In The Latest Wild Lawsuit Coming Out Of GameStop Saga

    I'm not sure how this author knows that many speculators aren't using under-collateralized money to buy BTC. To Wit 0% inconvertible notes: UPDATE 3-MicroStrategy to borrow $600 million to buy more bitcoin

    The author makes some interesting points and this article is worth a read...

    Quote Originally Posted by Joakim Book

    Bitcoins aren’t purchased on a partially paid payment plan where investors put down 10% or 20% of issuing price with the rest payable in equal installments every three or four months – essentially transforming the stock into a levered derivative product. If anything, bitcoin is purchased with investor equity or with over-collateralized loans

    No, Bitcoin Is Nothing Like the South Sea Bubble

    Grumpy then, grumpy now.


    Quote Originally Posted by ribshaw View Post

    12-19-2017

    Unlike regulated markets I'd wager there are a lot of people levered up on credit cards and title loans in their quest for crypto riches. I've said this before, and way too early apparently but I hope people have a good sell strategy in place. Much like today's stock market there are people invested that have never experienced a bear market. Every dip in price has been an excellent buying opportunity and will remain so until it doesn't.

    People always chase performance and a story, don't sully their minds with facts.

    Beanie Babies had limited supply too.

    Bitcoin.com founder sells all his Bitcoins -"Extremely high risk"
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  27. Likes 1 Member(s) liked this post
  28. #93
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    What could possibly go wrong?

    Quote Originally Posted by Argentinean Po Po
    The site promotes itself as a “networking company” that invests in sports betting, specifically soccer.
    Allegedly based in Costa Rica, the platform offers investment packages that promise high yield returns of 20% monthly and 240% yearly.
    Argentinean Prosecutor Investigates Alleged Bitcoin Scam Ganancias Deportivas – News Bitcoin News
    Some people seek to have it both ways. They want the gubment off their back and do the heavy lifting when they get scammed.

    Quote Originally Posted by Osato Avan-Nomayo
    Austria’s Financial Market Authority has revealed that more than 60% of all reported financial fraud in the country involve crypto trading products.

    Austrian regulators call for stricter crypto regulations amid rising fraud
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  29. #94
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Egads! Some of the comments to this tweet are (insert adjective here).

    Quote Originally Posted by Elon Musk

    Replying to@elonmusk and @business

    To be clear, I am *not* an investor, I am an engineer. I don’t even own any publicly traded stock besides Tesla.

    However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere.

    Bitcoin is almost as bs as fiat money. The key word is “almost”.

    7:11 PM · Feb 18, 2021

    https://twitter.com/elonmusk/status/1362600676174557186
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  30. Likes 1 Member(s) liked this post
  31. #95
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    I thought the Pong update for my Atari 2600 felt a little sketch.

    Quote Originally Posted by Alexis Keenan and Daniel Howley
    “It appears that this malware is very sophisticated, in the sense in that it is impersonating a legitimate piece of software...which is a powerful concept,” says Yehuda Lindell CEO & Co-founder of Unbound Tech, which provides cryptographic infrastructure, including key management and protection.

    While crypto asset holders may avoid clicking on an unfamiliar link, Lindell said, they might be more inclined to install an update that appears to come from a trading platform.

    Crypto price surge invites torrent in crypto crime

    FI warns consumers of risks connected to crypto-asset products | Finansinspektionen

    Australian Man Arrested for Trying to Launder $4.3M With Bitcoin
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  32. Likes 1 Member(s) liked this post
  33. #96
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    The irony of a fine for maybe/maybe not creating money out of thin air.


    As Donnie Iris once said:

    You can't depend on your teacher
    You can't depend on your preacher
    You can't depend on politicians
    You can't depend on superstitions

    ShieldSquare Captcha
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  34. Likes 1 Member(s) liked this post
  35. #97
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    A similar argument is made between people that want to hold physical metal versus mining stock. One thing is for sure the price swings are much greater in the stocks. Weeeeeeeeeee!!!!

    Quote Originally Posted by Sean Williams
    It is, without question, the worst way to try to make money off of the Bitcoin craze. I'm talking about buying cryptocurrency mining stocks

    The Absolute Worst Way to Invest in Bitcoin | The Motley Fool
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  36. #98
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Straight up I think the kid next to me in the Cafe wrote this....

    Quote Originally Posted by WTF???

    Q: bitcoin Scam victims exchange fall for different Ponzi Scheme

    externalize the charge-back downside inherent with act currency – that is the matter wherever somebody sends an act to the exchange, reciprocally for bitcoin, then claims the cash was purloined or the dealing was. somehow illegitimate, and therefore the bank takes the cash backtrack the exchange deed the user having paid nothing for his or her bitcoins.

    Electronic Ways To Recover Scammed Bitcoin IQ Options Investment Scam
    I can't know for sure but it looks like some version of an Advance Fee Recovery Scam found it's way into the site linked above.


    Quote Originally Posted by FBI Guy

    An advance fee scheme occurs when the victim pays money to someone in anticipation of receiving something of greater value—such as a loan, contract, investment, or gift—and then receives little or nothing in return.

    Advance Fee Schemes — FBI
    Quote Originally Posted by FTC
    Seeing Through a Recovery Scam

    Here are some tips to help you avoid losing money to a recovery scam:

    Don't giver money or your bank or credit card account number to anyone who calls offering to recover money, merchandise, or prizes you never received if the caller says you have to pay a fee in advance. Under the Telemarketing Sales Rule, it's against the law for someone to request or receive payment from you until seven business days after you have the money or other item in hand.

    Refund and Recovery Scams | FTC Consumer Information
    Quote Originally Posted by Negative highlights from ScamAdviser

    The website's owner is hiding his identity on WHOIS using a paid service

    This website has only been registered recently.

    This website does not have many visitors
    We found many low rated websites on the same server
    We detected cryptocurrency services which can be high risk

    We detected services around money recovery which are often scams

    This site is actively preventing credit card chargebacks

    efundsrecovery.com Reviews | scam, legit or safe check | Scamadviser
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  37. Likes 1 Member(s) liked this post
  38. #99
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    Listed stock and option exchanges have a way to deal with trades like this that need to be broken. None to my knowledge involve locking people out of their accounts like a spurned lover changing the keys.

    Quote Originally Posted by Benzinga Staff

    Rafael Padilla, an attorney representing the affected users who are currently locked out of their accounts, commented on the issue on Facebook. “Our client’s trade transaction was legitimate under applicable laws, decided cases, and of course according to PDAX’s very own terms and conditions/user agreement.” According to Padilla, PDAX has opted to lock users out of their accounts because it cannot unilaterally reverse the transactions.

    “It’s very understandable that a lot of users will feel upset they were able to buy what they thought an order was there for Bitcoin at very low prices. But unfortunately, the underlying Bitcoins were never in the possession of the exchange, so there’s never really anything there to be bought or sold, unfortunately.”, said PDAX CEO Nichel Gaba in a press conference earlier today.

    Crypto Exchange Asks Customers To Return Bitcoin After Selling It At 88% Discount
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

  39. #100
    Join Date
    Feb 2013
    Location
    Internet Cafe Nigeria
    Posts
    6,392
    Post Thanks / Like

    Re: Is Bitcoin an imploding ponzi??...

    About a year ago a well known scammer flashed his BTC wallet address during a Youtube video. I saved the address thinking it might come in handy some day; yesterday was that day.

    I wanted to see what our friends at Retrieve Scammed Bitcoin | Scam and Stolen Funds Recovery | Recover Lost Funds | had to offer what with me losing 42 BTC and all. Notably USI Tech collapsed probably two years ago. If someone in the recovery industry didn't already have knowledge; I would expect them to get some before agreeing to take my case. It wasn't even discussed. From the wallet above I sent them fairly recent transactions totaling around 42 BTC.

    Wonder of all wonders they're willing to take my case; and looks like it will be all wrapped up in two weeks or less.


    Quote Originally Posted by ME

    Hi, I lost 42 Bitcoin in a scam USI Technology. Can you tell me how I> might go about trying to recover them.
    >
    > Bless You
    Jack
    Quote Originally Posted by service@efundsrecovery.com
    Hello Jack,
    Ok, There a few issues to getting digital assets recovered. The process
    is usually within 2 / 3 weeks but you must have access to a few
    information before the recovery of digital cryptocurrencies can be
    certified recoverable.
    Do you still have access to the Bitcoin account you used to send the
    funds out to USI Technology ?
    Quote Originally Posted by ME
    Yes I do
    Quote Originally Posted by service@efundsrecovery.com
    Ok, That is an important part for the process. How many Bitcoin accounts
    was used by you to pay them during the period of investment ? How long
    ago was the very first transaction and last transaction respectively ?
    How many phases were the payments made and how much were the payments
    made ?
    Do you have all generated hashtag numbers generated from each
    transaction ?
    Quote Originally Posted by ME
    Yes I do
    Quote Originally Posted by service@efundsrecovery.com
    Ok, Send the details on those transactions for analysis going forward.
    If the information checks out complete we will commence on giving you
    detailed action plan required for the recovery process while we put you
    on a real time monitoring platform to follow up with the repossession
    process.
    Quote Originally Posted by ME

    Random transaction data from some scammers wallet
    Quote Originally Posted by service@efundsrecovery.com
    The information seems comprehensive enough. We will run an analysis on
    all transactions and revert to you within the next 30 / 45 minutes after
    which you will be updated on service terms and conditions going forward.
    Quote Originally Posted by service@efundsrecovery.com

    Hello Jack,
    Attached herein is a copy of the action plan for your perusal. The
    forensic analysis will soon be complete and we will discuss further
    details on terms and conditions of service thereafter.

    NOTE: The attached action plan is a comprehensive plan, in some cases,
    the recovery may take faster than 2 weeks depending on the information
    provided by the client. Yours might be probably be faster than what
    obtains in the action plan because of the detailed information provided.
    Efunds Recovery Action Plan.JPG
    Efunds Recovery Action Plan1.JPG
    Efunds Recovery Action Plan2.JPG
    Efunds Recovery Action Plan3.JPG
    Efunds Recovery Action Plan4.JPG
    Quote Originally Posted by ME
    This looks good to me. What do your costs are for this project?
    Quote Originally Posted by efundsrecovery101@gmail.com
    Hello Jack,
    Ok. The analysis from the forensic team has just been concluded and they have agreed to take on your recovery request. Once we confirm your initial payment to commence the process, the forensic team will start your btc repossession request according to the action plan and within 30 minutes upon initial deposit confirmation, a login username and password to our repossession monitoring platform will be forwarded to your email which will enable you login to our real time monitoring platform where you would have direct access to begin the recovery process carried out by the forensic team. We charge 20% payment of the total funds to be recovered, 10% charges to start the process and the other 10% would be required upon the completion of the repossession process.
    Quote Originally Posted by ME
    Can I send it to you in BTC, and if so do you have a wallet address? Also if you aren't able to recover my funds is there a money back promise?
    Quote Originally Posted by efundsrecovery101@gmail.com

    Hello Jack,
    Yes we take BTC payments into the wallet address below;
    16PJ6W3MgGbgQBGE7MDygCHFQFqfuuM9qb

    There is a money back guarantee for the service if we are unable to recover funds, However, recovery is certain if the information you provided are accurate. Kindly send an email confirmation as soon as the BTC has been sent to the address provided above.
    "It's virtually impossible to violate rules ... but it's impossible for a violation to go undetected, certainly not for a considerable period of time." Bernie Madoff
    https://www.facebook.com/pages/Scam-...98399986981403

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •