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Thread Statistics | Show CCP posts - 2 post(s) |
BeanBagKing
Terra Incognita Intrepid Crossing
186
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Posted - 2012.08.29 17:10:00 -
[1] - Quote
http://news.slashdot.org/story/12/08/29/0349226/large-bitcoin-ponzi-scheme-collapses-with-a-loss-of-56-million
"Slashdot" wrote:"Despite the many people calling it out as a Ponzi scheme from the beginning, Pirateat40 was able to collect millions of dollars worth of Bitcoins from thousands of Bitcoin users. At almost every stage Pirateat40 copied the path of the EVE Online Ponzi scheme except on a much larger scale with a far more liquid take. Now, it has shut down, and investors are wondering where their digital currency went. Quoting: 'He claimed that BS&T was sitting on 500,000 BTC on the day of the shutdown, worth more than $5.6 million USD at today's price of $11.38. "Once my process is released you'll understand more of how coins move around," he told members of the Bitcoin community last week. Pirateat40 initially promised to refund his investors' Bitcoin deposits plus interest within a week, effectively admitting that he did not have the Bitcoins on hand. The fund normally paid out on Mondays, but last Monday and today have passed so far without refunds. BS&T investors are complaining loudly and so-called "pass-through" funds that invested with BS&T are shutting down. As of this writing, BS&T says there is "no ETA on payments."'
I have to admit feeling a bit of pride that the methods of scamming in Eve work in real life. |
Jim Era
Genco Fatal Ascension
1581
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Posted - 2012.08.29 17:12:00 -
[2] - Quote
so...bitcoins were a scam after all?
I never understood those lol |
THE L0CK
Denying You Access
692
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Posted - 2012.08.29 17:22:00 -
[3] - Quote
BeanBagKing wrote: I have to admit feeling a bit of pride that the methods of scamming in Eve work in real life.
I think you mean the scamming of real life worked in eve. It was named after Charles Ponzi back in the '20's or so but the idea had been floating around as early as the mid 1800's. That's about 150 years give or take before Eve was even on the drawing board.
As for bitcoin, yeah I knew was a scam since I first heard about it. And yes, I never understood them either and I still don't even after a local eve user explained it in great detail. Do you smell what the Lock's cooking? |
Palovana
Inner Fire Inc.
289
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Posted - 2012.08.29 17:27:00 -
[4] - Quote
THE L0CK wrote:BeanBagKing wrote: I have to admit feeling a bit of pride that the methods of scamming in Eve work in real life.
I think you mean the scamming of real life worked in eve. It was named after Charles Ponzi back in the '20's or so but the idea had been floating around as early as the mid 1800's. That's about 150 years give or take before Eve was even on the drawing board. As for bitcoin, yeah I knew was a scam since I first heard about it. And yes, I never understood them either and I still don't even after a local eve user explained it in great detail.
Wasn't there some EVE player who kept encouraging people to invest in Bitcoin some time back? Or was that Phaser? I can't keep track of these anymore. Please support: export of settings in editable format
Your stuff goes here. |
Arrs Grazznic
Poena Executive Solutions
74
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Posted - 2012.08.29 17:27:00 -
[5] - Quote
Slashdot isn't saying that Bitcoin was a Ponzi scheme, rather someone has run a Ponzi scheme useing Bitcoins as teh investing currency.
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Poetic Stanziel
Fweddit I Whip My Slaves Back and Forth
1073
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Posted - 2012.08.29 17:29:00 -
[6] - Quote
THE L0CK wrote:It was named after Charles Ponzi back in the '20's or so ... I thought it was named after that guy from Happy Days, the one that jumped the shark.
:)
The STAIN Travel Bookmark Collection - 451 Bookmarks |
Dog Biscuit
Chitlins
7
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Posted - 2012.08.29 17:30:00 -
[7] - Quote
i HEARD IT'S SOMETHING TO DO WITH isd |
THE L0CK
Denying You Access
693
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Posted - 2012.08.29 17:37:00 -
[8] - Quote
Palovana wrote:THE L0CK wrote:BeanBagKing wrote: I have to admit feeling a bit of pride that the methods of scamming in Eve work in real life.
I think you mean the scamming of real life worked in eve. It was named after Charles Ponzi back in the '20's or so but the idea had been floating around as early as the mid 1800's. That's about 150 years give or take before Eve was even on the drawing board. As for bitcoin, yeah I knew was a scam since I first heard about it. And yes, I never understood them either and I still don't even after a local eve user explained it in great detail. Wasn't there some EVE player who kept encouraging people to invest in Bitcoin some time back? Or was that Phaser? I can't keep track of these anymore.
I can't remember what his name was but I think we're talking about the same guy. If any kind of file sharing was involved, this guy was all over it, constantly posting pics showing him bittorrenting like 50 files at any given time with great speeds, worshiped Whats his face who is stuck in a embassy in England right now, and started going crazy with this bitcoin thing.
I know people say this all the time on the forums, but I honestly believed that dude didn't have an actual job and lived at home with his parents. Do you smell what the Lock's cooking? |
BeanBagKing
Terra Incognita Intrepid Crossing
186
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Posted - 2012.08.29 17:43:00 -
[9] - Quote
THE L0CK wrote:BeanBagKing wrote: I have to admit feeling a bit of pride that the methods of scamming in Eve work in real life.
I think you mean the scamming of real life worked in eve. It was named after Charles Ponzi back in the '20's or so but the idea had been floating around as early as the mid 1800's. That's about 150 years give or take before Eve was even on the drawing board. As for bitcoin, yeah I knew was a scam since I first heard about it. And yes, I never understood them either and I still don't even after a local eve user explained it in great detail. I was more referring to the particular method that works in Eve working on Bitcoin, I don't know the details, but when they say he copied the path of the Eve scheme I assume there was a particular method used in Eve that he also used. In general though, yes, I'm also happy that real life scams work in Eve.
Also, someone else already corrected people, but for those that didn't read it. Bitcoin itself is not a scam (that anyone knows of *tinfoil*), this was just a scam that used Bitcoin. |
Ensign X
131
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Posted - 2012.08.29 17:51:00 -
[10] - Quote
Bitcoins are an electronic payment method, ala Paypal, Credit Cards and others. However, unlike other payment methods, they can be freely traded and have a fluctuating rate of exchange against various currencies. Bitcoins are not a scam.
The scam is that somebody set-up a shill hedge fund in order to accept Bitcoins from investors in an effort to trade them versus various currencies and increase the value of the investment. However, it appears the creator of the fund has no intention or lacks the capability to pay back his investors who are now faced with the very real possibility that they have been taken for a ride in this latest of Ponzi schemes.
It's also worth noting that, unlike Ponzi scheme's in EVE Online, this Bitcoin scheme has cost it's investors real, actual money and is 100% illegal. It remains to be seen whether the perpetrator of the scheme will be prosecuted, though it's highly unlikely that he'll be allowed to hang on to the ~$5.5 million real dollars he has scammed from his investors. |
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CCP Phantom
C C P C C P Alliance
2131
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Posted - 2012.08.29 17:55:00 -
[11] - Quote
While this is quite interesting news, it is only vaguely related to EVE General Discussion and therefore this thread got moved. CCP Phantom - German Community Coordinator |
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Blane Xero
The Firestorm Cartel
68
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Posted - 2012.08.29 17:55:00 -
[12] - Quote
Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though. Resident Haruhiist since December 2008.
Laying claim to Out of Pod Experience since 2007, plain and simple. Keep the trash out of Out Of Pod Experience, If it's EVE Related or deserves a Lock, it does not belong here. |
Scatim Helicon
GoonWaffe Goonswarm Federation
732
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Posted - 2012.08.29 17:57:00 -
[13] - Quote
Both the BitCoin and Eve communities are utterly infested with braindead libertarians, so its only natural that there's a large degree of crossover between the two. Titans were never meant to be "cost effective", its a huge ****.-á- CCP Oveur, 2006
~If you want a picture of the future of WiS, imagine a spaceship, stamping on an avatar's face. Forever. |
FloppieTheBanjoClown
The Skunkworks The Marmite Collective
2295
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Posted - 2012.08.29 18:12:00 -
[14] - Quote
I can't believe people are still so into bitcoins after the crazy ride they've had. The Skunkworks is recruiting. -áhttps://forums.eveonline.com/default.aspx?g=posts&m=1540711#post1540711 |
Surfin's PlunderBunny
Sebiestor Tribe Minmatar Republic
1981
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Posted - 2012.08.29 18:15:00 -
[15] - Quote
Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though.
So was Xenuria, something about helping him pay for education or something Gÿ+/ /Gûî /n++ \ -áThis is Bob, post him into your forum sig and help him conquer the forums. |
THE L0CK
Denying You Access
693
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Posted - 2012.08.29 18:16:00 -
[16] - Quote
Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though.
That's the name!
Surfin's PlunderBunny wrote:So was Xenuria, something about helping him pay for education or something
Isn't he supposed to be a boy genius or idiot savant or something? I thought I saw a thread where rainman stated he was going to take the asvab or mensa. What does he need funding for education for? Do you smell what the Lock's cooking? |
Blane Xero
The Firestorm Cartel
68
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Posted - 2012.08.29 18:16:00 -
[17] - Quote
Surfin's PlunderBunny wrote:Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though. So was Xenuria, something about helping him pay for education or something I would think Ceaon more likely to pull a Ponzi than Xenuria any day. Resident Haruhiist since December 2008.
Laying claim to Out of Pod Experience since 2007, plain and simple. Keep the trash out of Out Of Pod Experience, If it's EVE Related or deserves a Lock, it does not belong here. |
Surfin's PlunderBunny
Sebiestor Tribe Minmatar Republic
1981
|
Posted - 2012.08.29 18:19:00 -
[18] - Quote
Blane Xero wrote:Surfin's PlunderBunny wrote:Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though. So was Xenuria, something about helping him pay for education or something I would think Ceaon more likely to pull a Ponzi than Xenuria any day.
He'll try though, he's always playing on his self-proclaimed genius Gÿ+/ /Gûî /n++ \ -áThis is Bob, post him into your forum sig and help him conquer the forums. |
Micheal Dietrich
Kings Gambit Black
697
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Posted - 2012.08.29 19:19:00 -
[19] - Quote
Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though.
I crack myself up sometimes. |
Sidus Isaacs
Center for Advanced Studies Gallente Federation
143
|
Posted - 2012.08.30 10:33:00 -
[20] - Quote
Jim Era wrote:so...bitcoins were a scam after all?
I never understood those lol
I think it is funny. Money systems like this was not going to make it far anyways. |
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Sidus Isaacs
Center for Advanced Studies Gallente Federation
143
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Posted - 2012.08.30 10:39:00 -
[21] - Quote
THE L0CK wrote:Blane Xero wrote:Ceaon was the guy on the forums posting about Bitcoins a lot. I doubt he was involved though. That's the name! Surfin's PlunderBunny wrote:So was Xenuria, something about helping him pay for education or something Isn't he supposed to be a boy genius or idiot savant or something? I thought I saw a thread where rainman stated he was going to take the asvab or mensa. What does he need funding for education for?
Lol, he is just a troll... :P |
dexington
Red Federation RvB - RED Federation
147
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Posted - 2012.08.30 12:04:00 -
[22] - Quote
BeanBagKing wrote:In general though, yes, I'm also happy that real life scams work in Eve.
Scams work in most mmo's, in eve you just don't get banned.
GÇ£The best way to keep something bad from happening is to see it ahead of time, and you can't see it if you refuse to face the possibility.GÇ¥-á |
Brujo Loco
Brujeria Teologica
369
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Posted - 2012.08.30 14:34:00 -
[23] - Quote
Yes, as usual, the concept behind Bitcoins was interesting, a free currency out of the grasp of the IMF, but sadly, as all things unregulated fell in the drain. Need someone to say it was the Lizardmens fault when they discovered it could be a currency out of their reach and a direct threat to their world domination plans though.
Ceaon was an advocate of the currency, and although I know him a bit ingame, I dont think he might have been actually trying to scam anyone more than showing off, whereas Xenuria, well ... Xenuria is just Xenuria, the Troll Clown of EVE. Kinda grows on you though, like fungi.
Inner Sayings of BrujoLoco: http://eve-files.com/sig/brujoloco |
Whang'Lo
Set Sail to Epic Fail
2
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Posted - 2012.08.30 15:53:00 -
[24] - Quote
Not sure where you guys are getting your information but...
Bitcoins are alive and well.
As I write this there is quite a number of legit "exchange" sites that are currently paying 10.00$ U.S. for every bitcoin. And I can tell you with 100% certainty that some of them are not scams.
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Brujo Loco
Brujeria Teologica
369
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Posted - 2012.08.30 16:00:00 -
[25] - Quote
Whang'Lo wrote:Not sure where you guys are getting your information but...
Bitcoins are alive and well.
As I write this there is quite a number of legit "exchange" sites that are currently paying 10.00$ U.S. for every bitcoin. And I can tell you with 100% certainty that some of them are not scams.
But ... but these are the EVE FORUMS! Misinformation is KEY here! How dare U? HOW? Inner Sayings of BrujoLoco: http://eve-files.com/sig/brujoloco |
Blane Xero
The Firestorm Cartel
68
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Posted - 2012.08.30 16:32:00 -
[26] - Quote
Whang'Lo wrote:And I can tell you with 100% certainty that some of them are not scams. No doubt you're correct, but saying with 100% certainty that some goons aren't scammers has about the same effect.
People are just gonna continue to misinterpret the whole "Bitcoins are a scam" vs "Bitcoins were the currency used in a scam" if they want to. Resident Haruhiist since December 2008.
Laying claim to Out of Pod Experience since 2007, plain and simple. Keep the trash out of Out Of Pod Experience, If it's EVE Related or deserves a Lock, it does not belong here. |
Din Chao
Seraphim Initiative
75
|
Posted - 2012.08.30 17:38:00 -
[27] - Quote
Am I missing something? Did people really "invest" real money with someone named "pirateat40"?
I have to be reading this wrong. Nobody could be that stupid. (I know, of course they could be.) |
Surfin's PlunderBunny
Sebiestor Tribe Minmatar Republic
1988
|
Posted - 2012.08.30 17:46:00 -
[28] - Quote
Din Chao wrote:Am I missing something? Did people really "invest" real money with someone named "pirateat40"?
I have to be reading this wrong. Nobody could be that stupid. (I know, of course they could be.)
There are carebear corps that would let him join too Gÿ+/ /Gûî /n++ \ -áThis is Bob, post him into your forum sig and help him conquer the forums. |
Sidus Isaacs
Center for Advanced Studies Gallente Federation
143
|
Posted - 2012.08.30 18:10:00 -
[29] - Quote
Din Chao wrote:Am I missing something? Did people really "invest" real money with someone named "pirateat40"?
I have to be reading this wrong. Nobody could be that stupid. (I know, of course they could be.)
Clearly, people are actually that stupid. I mean, just look how many people believe in religion :P |
Din Chao
Seraphim Initiative
75
|
Posted - 2012.08.30 18:12:00 -
[30] - Quote
Sidus Isaacs wrote:Din Chao wrote:Am I missing something? Did people really "invest" real money with someone named "pirateat40"?
I have to be reading this wrong. Nobody could be that stupid. (I know, of course they could be.) Clearly, people are actually that stupid. I mean, just look how many people believe in religion :P Yeah, but this is like believing in The Church of Lies and Stealing Your ****. |
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