Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Ponzi - Ponzicoin ?
by
BADecker
on 17/10/2014, 19:40:42 UTC
A Ponzi or MLM use a single source of supply to create a profit center. You can buy bitcoins on the open market. That would be like buying your competitors products to sell and would kill your pyramid.

Well, no. You are missing the point.

The Ponzicoin client would actually BE a Bitcoin client. People who joined Ponzicoin would have to buy or obtain their bitcoins from the same place anyone else does. The thing that makes them want to do this is, once they have their .5 bitcoins in their wallet, they can join Ponzicoin by sending to their upline using the checkbox in the client. Now that they have joined, and have created their install program, they can send copies of their install program to people all over the world, with the idea that some would join Ponzicoin, thereby sending them .1 bitcoins... from everyone who joined in their first 5 levels.

A Bitcoin chain letter, all automatic, outside the postal mail or email system.

Smiley