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?
It's better to put your money in a gambling site than deposit it on a Ponzi scheme program because you are guaranteed to lose on Ponzi scheme, nobody wins in a Ponzi scheme, only the operator, there's no such thing as a long term Ponzi scheme the operators can pull the plug anytime even on day one after it generates enough money.