Post
Topic
Board Scam Accusations
Re: [PONZI SCAM] CloudHashing scam
by
coinedBit
on 18/06/2013, 18:14:12 UTC
Nowhere do they promise to pay out 500% - that's just the fairy-tale projection they make.

That's the nice thing about bitcoin which also makes the community so prone to scamming: you don't need to make legally-binding promises to your customers, instead you can hope for your customers to make their own little calculations based on your "ballpark projections". And the awesome thing is that they're all accepting btc as payment, so that even if there was a trial and authorities would be trying to look under the hood, all the money would be pretty "safe" - unlike bank accounts that can be frozen.

There really is tons of money to be made through scamming with very little risk involved, the whole bitcoin/ASIC wave must be a con artist's wet dream come true, and you don't even risk violating banking guidelines or money-laundering laws, all because bitcoin is so new and still unregulated. You could pull something like this off, without any real dangers involved