General definition of a Ponzi: The thing being sold has no (non-sham) value, other than hope of selling it to a greater fool.
... When someone buys seats, they are buying them from a member who is selling, the same way all free markets work.
Ummm...
... It’s actually very easy to understand and prove that NastyFans is not at all a Ponzi. ...
Very early on, this forum had a problem with a Ponzi culture. Of course, it wasn’t everybody; but there were some quite big-name forum influencers
openly advertising “Bitcoin pyramids” and “Ponzi” schemes, in as many words—in their forum signatures!
Not naming names, but I was shocked when I found that in various archives. (So was Lauda, when I showed her; I speak of things before her time.)
pirateat40 happened
because there
was fertile ground here for scams. People who tried to call it out got blown off and ignored; and years later, guess who pretends that
nobody could have seen it coming.
(Yes, I am sure that nobody could have seen it coming! Duh. pirate’s OP pegged 10 on the bullshit meter’s scale of 0–9.)When you knew he was going to default, you decided to create an insurance fund and forced everyone to accept that instead of coin you got back from pirate. That is where you scammed everyone, by pretending you never received any coin.
I didn’t know he was going to default. I knew what everyone else knew and you are a piece of shit to pretend otherwise.
“What everybody else” knew straight from the first day:
Post #2 in pirateat40’s original announcement thread:Merited by nullius (1)Smells like a classical HYIP scam.
Promoting Pirate’s Ponzi, and especially basing other investment instruments on it, showed
at best extremely poor judgment at the level of
at best gross negligence. I say that, making for the purposes of this post all the most favourable assumptions about you (and ignoring everything else discussed in years of other threads). Anybody with even an ounce of common sense could have seen that something looked wrong here:
[...quote of original pirate scam ad post...]
Eventually, more people showed up who had no tolerance for such nonsense. Make a list of people whom OgNasty hates, and you will have a pretty good idea of who they are.
I still should probably sometime address some of Royse’s false accusations against me in this thread. Busy now. Need to set priorities.