Quote from: coinbuyer2580 on February 26, 2014, 03:40:22 AM

Quote from: Bigeyeone on February 26, 2014, 03:30:28 AM

So many people just love to use words like ponzi scheme and pyramid scheme, but really dont know what they talking about, no way Gox was a ponzi scheme.

A ponzi scheme is where a scammer pretends to have some super profitable investment scheme and promises poeple huge profits if they buy a share in his company or bonds or investment fund or whatever, while in fact all he is doing is paying the old investors with the money coming in from new investors and when the moment comes he can not find any more new investors the whole thing will just collapse like any pyramid scheme.

How does this resemble anything GOX did ? It does not

MT Gox was openly allowing people to trade an item that did not exist. The were obviously paying withdrawals from fresh deposits since they were missing more than 700 000 coins that were still being traded. That is a ponzi my friend.

well if you wanna redefine what a ponzi scheme actually is, yeah then your right lol

Like if I define that if something has wheels then it is a car yeah then a bicycle is a car all right. lol