You're right, it's much worse than that. You're mining for an invisible dev (s0br) & a silent employee (ThePhwner) aka "TheFakeFotoman" who sits in irc chat refunding people for the fuse-less hardware he sold them that melts as soon as you plug it in, while watching at least 15% of all miners income roll in to a wallet somewhere. That of course is when you get paid at all. They must be having such a laugh at everyone who thinks they're gonna get their backdated payments, their 12.5% bonuses, their S3's etc.......I bet they're in stitches at those who took 1 day @ 50% extra - instead of 30 days @ 12.5% as they were promised......easy money 

Definitely not a ponzi - a scam yes, a con even - but not a ponzi.

Oh look, the website is down again.........