Silk Road forums
Discussion => Off topic => Topic started by: Jurema on April 27, 2012, 08:04 pm
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BitCoin Pyramid with solid structure & free account registration:
http://bitcoinpyramid.com/r/1865
Just developed: Bitcoin Pyramid
Some features:
- no password or email address needed
- no limitations on hierarchy depth
- no limitations on the size of membership fee (you can start with 0 btc!)
- about a half of deposited money goes to random members
- new members that do not follow referral links become referrals of random members
- automatic payouts when income hits the threshold (0.01 0.021 btc currently)
- all the pyramid info is published on the site, daily backups of the whole mysql database are available
http://bitcoinpyramid.com/r/1865
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So it's not even pretending to not be a pyramid scheme. This is the most retarded thing I've ever heard of.
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I'm pissed because I now sport a bruise on my ass after I fell off my chair laughing.
But I'm not sure pyramid schemes ought to be illegal. Seems like you're just banning stupidity. I mean all the money flows from the dumb people to the smarter ones. Maybe that's a better use of capital than what the dumb people would have put it to?
I understand why you should take down some enterprise like Bernie Madoff's pyramid scheme, because that was very hard to detect for the average person without a ton of research (he only offered slightly higher returns with respect to the risks taken than normal, that's why it went on for so long). On the other hand, if you invest in something like the above, then...
Then again, ignore me, because I also think the state shouldn't be involved in gambling, powerball lotteries etc. It's unethical. It's like a sleeper tax on people who either flunked, or more likely, passed but never truly understood the fundamental principal of counting in high school.
I'm not saying that poor or uneducated people shouldn't be allowed to buy lottery tickets. That's a choice they are free to make even if it's wrong. I'm saying that the state shouldn't have anything to do with it, it's supposed to be holding itself to a different standard, looking out for general welfare of the entire population.
I can understand recreational gambling, but that's not really the same subject, those guys have money to burn for a thrill, but your single parent mom on food stamps really does not in reality.
tldr; legalize obvious pyramid schemes, privatize state controlled gambling. LOL!
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Madoffs scheme was a Ponzi. Pyramid schemes are more like multi-level marketing, you pay money to join then you recruit others and make a % of their membership fee, usually they try to hide it by having some worthless product to sell along with it but the majority of it focuses on the membership and recruitment / referral fee structure. Ponzi schemes pay old investors with money new investors put into the scheme and they pretend to be investing in other things but really are not investing in shit. Ponzi schemes are insanely popular with e-currencies of all sort, just look up HYIP, high yield investment program. It really is like gambling with those things, the first few people who put money in get huge returns, but eventually the person running it takes off with everyones money. Some people are actually fooled by those things, many just treat it like gambling, if you get in early enough you do stand to double or triple your "investment", but if you get in at the wrong time you stand to lose everything.
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yeah, but they fail for the same reason.
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Madoffs scheme was a Ponzi. Pyramid schemes are more like multi-level marketing, you pay money to join then you recruit others and make a % of their membership fee, usually they try to hide it by having some worthless product to sell along with it but the majority of it focuses on the membership and recruitment / referral fee structure. Ponzi schemes pay old investors with money new investors put into the scheme and they pretend to be investing in other things but really are not investing in shit. Ponzi schemes are insanely popular with e-currencies of all sort, just look up HYIP, high yield investment program. It really is like gambling with those things, the first few people who put money in get huge returns, but eventually the person running it takes off with everyones money. Some people are actually fooled by those things, many just treat it like gambling, if you get in early enough you do stand to double or triple your "investment", but if you get in at the wrong time you stand to lose everything.
Yeah, apples and oranges really, I wasn't paying attention. But hey! This makes my philosophy even more consistent semantically! Legalize pyramid schemes, ban ponzis & restrict gambling to being run by private sector.
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I'm pissed because I now sport a bruise on my ass after I fell off my chair laughing.
Can I please rub it better for you?
I'll get you a milkshake and a lollie too!!!