This reminds me of the time I was approached to join a multi-level marketing scam affiliated with Transamerica. Their contact phone number was 1-800-PYRAMID. I was like "Well, at least they're up front about it and put it right there in the phone number."
I wouldn’t mind investing in an honest ponzi scheme as long as honesty tapered off over time as the number of people joining grow, and there’s no restriction on when you can pull out. I would have loved the super charged returns in Bernie Madoff’s early days.
I suppose any greedy person wouldn't mind "investing" in a Ponzi scheme at the point you can still make bank on it. And of course all ponzi scheme have such a phase, that's how they work.
What is so great about this is that in today's age anyone can create a great looking website, appear professional and really pull off things like this. Use fancy job titles, like Second Layer Expert (lol) and invent a bunch of other nonsense that sounds innovative and disruptive, as well of course publish the code to be open. It's a great prank, unfortunately backed by too many real world cases that do exactly that, and make people lose money.
The last time I tried to design and code a landing page myself it took me way more time than expected and the website ended up looking like shit. It is not easy as people think. (Or I am a noob, that is also an option.)
There are great templates available for $15. Anyone with basic html skills can download one and change the values between html tags. I'm assuming you tried to make one yourself, which in fact is tough and would require multiple people to pull off.
I know this is a joke, but there are numerous real life Ponzi and pyramid schemes based on Ethereum smart contracts. PonziCoin, PoWH3D, and EthPhoenix transparently advertise themselves as Ponzi/pyramid schemes. There's also a whole genre of "hot potato" collectible games that operate like pyramid schemes. CryptoCelebrities and CryptoKitties are a couple well known games in this genre.
Personally, I don't think there's anything unethical about transparent pyramid schemes. They're essentially gambling games where players bet on the greed of other players. The greediest players end up "holding the bag" while every one else makes money. These games can be pretty profitable if you play conservatively.
> Huh? How exactly do you play ponzi schemes conservatively?
Get in and out quickly taking the, presumably higher-than-normal, ROI with you. Typically with ponzi schemes, folks put in and keep their money in to compound because, on paper, they have insane ROIs. Their greed blinds them to the "too good to be true."
Still, Ponzi schemes do payout to some amount of people, those who pull out before it is too late. None of this is to say you won't be left holding the bag, but if you're an "in-and-out" player you have a better chance of not being the one left holding the bag compared to those who see fake numbers and let greed wash over them.
When I first heard about ponzicoin I thought for sure it was a joke. But not only did someone swindle people out of money the first time around, but someone also managed to do it again under the same name.
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[ 3.2 ms ] story [ 105 ms ] threadhttps://ponzicoin.co/home.html
https://ponzico.win
The real fun is the whitepaper (some of my better work): https://ponzico.win/ponzico.pdf
But yeah, PonzICOs are turtles all the way down.
So the guy behind them got prosecuted for MMM 1.0, finished his sentence and then did 2.0 honestly.
Funny and profound
Seriously, there's more hidden gems in the webpage when you try to invest.
The last time I tried to design and code a landing page myself it took me way more time than expected and the website ended up looking like shit. It is not easy as people think. (Or I am a noob, that is also an option.)
Have a look at the licensee agreement. https://ponzischeme.io/images/rules.gif Elon?
Personally, I don't think there's anything unethical about transparent pyramid schemes. They're essentially gambling games where players bet on the greed of other players. The greediest players end up "holding the bag" while every one else makes money. These games can be pretty profitable if you play conservatively.
Bag holders aren't the greediest players they're the last players.
>These games can be pretty profitable if you play conservatively.
Huh? How exactly do you play ponzi schemes conservatively?
Get in and out quickly taking the, presumably higher-than-normal, ROI with you. Typically with ponzi schemes, folks put in and keep their money in to compound because, on paper, they have insane ROIs. Their greed blinds them to the "too good to be true."
Still, Ponzi schemes do payout to some amount of people, those who pull out before it is too late. None of this is to say you won't be left holding the bag, but if you're an "in-and-out" player you have a better chance of not being the one left holding the bag compared to those who see fake numbers and let greed wash over them.
You find a bunch of greater fools to play with. But then you are back into scamming territory.
When I first heard about ponzicoin I thought for sure it was a joke. But not only did someone swindle people out of money the first time around, but someone also managed to do it again under the same name.