Re: Did anyone try to "gamble" with ponzi scheme crypto scam services?
I think I do not need to explain what I mean by ponzi crypto scam. Every week I see at least ten new ponzi scheme scams.
They often offer something like 100% interest per 24h (or something similar). They commonly run for quite a few weeks (or months sometimes) before "they go scam" publicly. The obvious idea how to exploit them is to invest something small at the first day, withdraw it as fast as possible and repeat just with the interests from the previous bet (and of course take some money away from every successful round).
Has anyone tried that? Have you been successful? Is this kind of gambling popular/common. Has it name?
They often offer something like 100% interest per 24h (or something similar). They commonly run for quite a few weeks (or months sometimes) before "they go scam" publicly. The obvious idea how to exploit them is to invest something small at the first day, withdraw it as fast as possible and repeat just with the interests from the previous bet (and of course take some money away from every successful round).
Has anyone tried that? Have you been successful? Is this kind of gambling popular/common. Has it name?
When I was first into cryptocurrency about 4 years ago, there are lots of people who tried to invest in a Ponzi scheme like that and even try to encourage people to invest while it's still paying. Unfortunately, those people who say that is one of those culprits to fool people. as soon as the other will join the risky Ponzi schemes, that's when they lose all their money.
If someone wants to know how this fraud works he can go to this site to learn more about it.
https://verdict.justia.com/2019/01/31/ponzi-schemes-how-they-work-and-what-we-can-learn
