Very suspicious "Ethereum Tree" Ponzi scheme, no whitepaper & roadmap.
Website: https://www.ethereumtree.com
Archived: Click here
Profile link: https://bitcointalk.org/index.php?topic=5109741.msg49731597#msg49731597
Archived: http://archive.is/id7xv
What happened: Ponzi Scheme & no whitepaper, roadmap.
Ethereum Tree name look like scammy to me. I can't see any whitepaper and road map on thier website.
However they have explained clearly how they will distribute profit and its obvious ponzi scheme.
Let's check on their website,
There is more clear explanation on their ANN thread. I will quote the part of distribution.
Description: In above image Ethereum Tree has 3 existing members (1, 2 and 3) with holdings 1ETH, 2ETH and 1 ETH respectively. When new investor joins the system directly and invest 10 ETH to the system, 10% of his investment (1 ETH) will be deducted as a network fee and is available for distribution to current members of the system based on percentage of total holdings each individual member has in his/her wallet. So Distribution amount will divided into 3 existing members as below:
Member 1 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
Member 2 will get 1ETH * %of total holding in his/her wallet = 1ETH * 50% = 0.50 ETH
Member 3 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
So, Member 2 in our case will get more profit as he/she is holding greater portion of the System holdings.
So is it not clear ponzi scheme ? All ponzi scheme have turned into scam eventually. So stay away from them.
Archived: Click here
Profile link: https://bitcointalk.org/index.php?topic=5109741.msg49731597#msg49731597
Archived: http://archive.is/id7xv
What happened: Ponzi Scheme & no whitepaper, roadmap.
Ethereum Tree name look like scammy to me. I can't see any whitepaper and road map on thier website.
However they have explained clearly how they will distribute profit and its obvious ponzi scheme.
Let's check on their website,
There is more clear explanation on their ANN thread. I will quote the part of distribution.
Description: In above image Ethereum Tree has 3 existing members (1, 2 and 3) with holdings 1ETH, 2ETH and 1 ETH respectively. When new investor joins the system directly and invest 10 ETH to the system, 10% of his investment (1 ETH) will be deducted as a network fee and is available for distribution to current members of the system based on percentage of total holdings each individual member has in his/her wallet. So Distribution amount will divided into 3 existing members as below:
Member 1 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
Member 2 will get 1ETH * %of total holding in his/her wallet = 1ETH * 50% = 0.50 ETH
Member 3 will get 1ETH * %of total holding in his/her wallet = 1ETH * 25% = 0.25 ETH
So, Member 2 in our case will get more profit as he/she is holding greater portion of the System holdings.
So is it not clear ponzi scheme ? All ponzi scheme have turned into scam eventually. So stay away from them.