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Anorak | Scamtastic: How Absolutely Glorious About Ponzicoin

Scamtastic: How Absolutely Glorious About Ponzicoin

by | 11th, March 2014

THESE people really should have known just given the name of the scheme. Quite the best story about alternative currencies today :

This is pure comedy gold. Operator of a bitcoin ponzi website has decided to pull a runner without paying people out:

http://ponzicoin.co/

Reactions: https://bitcointalk.org/index.php?topic=474730.1240

I usually don’t laugh at other people’s misfortune but it’s kind of hard not to laugh when someone knowingly invests in a ponzi scheme, loses money and then gets upset.

For those not quite up with all of the ins and outs of financial crime, a Ponzi scheme is named after Charles Ponzi. He started out meaning well (and honestly too) with a little investment scheme in international postal coupons. These were worth different amounts in different countries and by buying in the low priced country and selling in the high priced one it was possible to turn a profit. So he started to take investors money to invest in this. However, the flood of money he

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Posted: 11th, March 2014 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink