WaffleMaster. Not sure if this counts as it was from four years ago.
Archived Link.Copy:It tells you that everyone who just sold made 30 to 40% in one week.... With a guarantee that they can buy it all back and more for the next day at .001... This coin will obviously not move like a normal coin until week 10
n.b. until coin supply has ran out
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from existing capital or new capital paid by new investors, rather than from profit earned by the individual or organization running the operation. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme. EDIT: This doesn't look to be a fraud, though.
probably from wikipedia, but the page seems to have been changed. here's a post that copied it and cited it:
Other people call Bitcoin a "Pyramid bubble"
Wikipedia
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from existing capital or new capital paid by new investors, rather than from profit earned by the individual or organization running the operation. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.[1]
When a Ponzi scheme is not stopped by the authorities, it sooner or later falls apart for one of the following reasons:[1]
The promoter vanishes.
Satoshi Nakamoto vanished
throwaway because I don't want to deal with constant trolling