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Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
I have placed my bet: https://bitcointalk.org/index.php?topic=97094.0
I'm not taking sides, here as I think Micon has over reached and has failed to back up his claims other than speculation, although he may well be correct that the risk is nowhere near sustainable. Other than having some coin invested with pay.bc, I'm pretty agnostic about the issue (other than some points I made upstream).
That being said, what's the timeline on your bet? As far as I can tell, it's just a bet that says it won't fail. Are you saying it won't fail in X amount of time, or that it won't ever fail? If it doesn't ever fail, will you be keeping your money in until it closes down for other reasons? Otherwise, it seems like your money will be stuck forever.
Or, is this more of a rhetorical point?
what do you mean when you say things like "If it doesnt ever fail "
it absolutely has to fail if you look at the numbers
if it keeps going on like this in less than 2 years all the bitcoins in existence will have been paid out in interest alone INCLUDING the ones that havent been mined yet
double any number every 3 months and see how fast you get to 22 million and you will soon understand why its impossible
350,000 now
700,000 in 3 months
1,400,000 in 6 months
2,800,000 in 9 months
5,200,000 in 12 months
10,400,000 in 15 months
20,800,000 in 18 months
41,600,000 in 21 months
83,200,000 in 24 months .....
Maybe you're missing my point? I said I was agnostic about the issue. I was asking him in a rhetorical way. If he believes it will never fail, then the bet as it is currently made reads as though he will never take the money out. That's why I asked for a timeline.
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
Good question. Had not planned that far ahead. I do know I will be compounding until the interest rate goes down. When that happens then I will reevaluate, maybe take some out, maybe leave it in - don't know yet.
Do you have a suggestion for a time line?
Do you have a suggestion for a time line?
Micon seems to believe it will fail by the end of 2013. Are you willing to keep all 10,000 in until that point?
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
I have placed my bet: https://bitcointalk.org/index.php?topic=97094.0
I'm not taking sides, here as I think Micon has over reached and has failed to back up his claims other than speculation, although he may well be correct that the risk is nowhere near sustainable. Other than having some coin invested with pay.bc, I'm pretty agnostic about the issue (other than some points I made upstream).
That being said, what's the timeline on your bet? As far as I can tell, it's just a bet that says it won't fail. Are you saying it won't fail in X amount of time, or that it won't ever fail? If it doesn't ever fail, will you be keeping your money in until it closes down for other reasons? Otherwise, it seems like your money will be stuck forever.
Or, is this more of a rhetorical point?
Perhaps this might have something to do with it?
http://www.it-networks.org/security/hacker-breaches-50000-itwallstreet-com-accounts-posts-data-online
http://www.it-networks.org/security/hacker-breaches-50000-itwallstreet-com-accounts-posts-data-online
I have a cigar box full of Lego Minifigs. There are quite a few in there of various models. Lots of interchangeable parts (heads/torso/legs/accessories) as well.
If bought separately, or in sets, it would cost well over $200.
I'll let go of the lot for 4.2BTC (includes shipping and handling).
http://imgur.com/wDFDZ
If bought separately, or in sets, it would cost well over $200.
I'll let go of the lot for 4.2BTC (includes shipping and handling).
http://imgur.com/wDFDZ
actually it's evlew 
the rest is accurate
the rest is accurate
Do'oh...sorry about that.
is it just the one coin? is it 1.2btc shipped?
Yup, just the one coin. Price includes shipping and handling.
+1 The Joint
He trusted me enough as a newbie on these boards to do a very fast transaction with me. He responded to all emails very quickly, let me know of the progress (on his end) of the transaction, and was very patient with me regarding how these things work.
I would not hesitate to do business with him again.
I hope you enjoy the silver quarter!
He trusted me enough as a newbie on these boards to do a very fast transaction with me. He responded to all emails very quickly, let me know of the progress (on his end) of the transaction, and was very patient with me regarding how these things work.
I would not hesitate to do business with him again.
I hope you enjoy the silver quarter!
RDegas is the proud new owner. He's going to be sending me a dime for $3 lol
Confirmed! Thanks, Bitcoinminer! It will be in the mail tomorrow.
One Silver Quarter being sent to 'the joint' on Thursday, July 26th. Payment to be sent upon receipt of package. I will confirm in this thread.
I have a few more quarters to sell if anyone else is interested.
Thanks!
I have a few more quarters to sell if anyone else is interested.
Thanks!
Confirmed
Just want to confirm that payment was received (.50BTC) for the quarter. Thanks for your business!
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
Either way, Ponzi schemes can be very profitable. I don't think there is anything unethical about gambling with a Ponzi scheme.
Do you find anything unethical about early adopters defending Ponzi scams so that more people buy in (so that they can get out before it disappears)?
Do you find anything unethical about running Ponzi schemes, and trying to get as many people to buy in before you skip town?
As long as people understand the risks, then no. There is nothing unethical about it. Just like there's nothing unethical about encouraging people to play slot machines.
When you lie to someone to get their money, it doesn't matter whether they "understand the risks" or not. I understand the risk that I might get hit by a car when I cross the street, that doesn't justify someone intentionally running me over.
From what I've read, "investors" aren't being mislead about where their money is going. They simply aren't being told to a satisfactory degree. That may be splitting hairs, in your book, but this is a classic example of "buyer beware."
Obviously some people are pretty happy with the arrangement. Some aren't.
With all the information available here and elsewhere, I think you would be hard pressed to say anyone is being "scammed" when people are voluntarily handing over their money based on the info they receive. If this turns out to be a bust, the "investor" has absolutely nobody to blame but himself.
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
That's unfair - they print money and rely on new tax payers to pay off the old ones. That's so obviously a Ponzi scheme it can't be one.
Don't forget the biggest Ponzi scheme of all time...
Social Security
Cost for silver half dollar is spot plus shipping and handling.
If you are a reputable person on these boards, I will be willing to ship first and receive payment when you receive the coin.
If interested, PM me and we can talk.
Many thanks!
If you are a reputable person on these boards, I will be willing to ship first and receive payment when you receive the coin.
If interested, PM me and we can talk.
Many thanks!
Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending"
Either way, Ponzi schemes can be very profitable. I don't think there is anything unethical about gambling with a Ponzi scheme.
Do you find anything unethical about early adopters defending Ponzi scams so that more people buy in (so that they can get out before it disappears)?
Do you find anything unethical about running Ponzi schemes, and trying to get as many people to buy in before you skip town?
As long as people understand the risks, then no. There is nothing unethical about it. Just like there's nothing unethical about encouraging people to play slot machines.