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 am a little curious about investing in it, but I have never tried participating in any Ponzi scheme because most of us here know that it is a waste of time and money. It would be okay if we would avoid risking our money in this kind of illegal schemes because even they show us that we gain profit, it would still be impossible for us to withdraw all of those earnings. It's still much better if we would gamble our money in legitimate online casinos because there are more chances that we could gain and withdraw our profit to it.