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?
I haven't even try to do that. It is really hard to risk your money in ponzi scam, even if you intended to withdraw it as fast as possible, we will not be able to know when they will run with the money you just invested. Sometimes even if they just started running the ponzi scam,they will immediately run all the money they will get. They won't waste any more time to wait when it comes to money.