MMM Mavrodi Coin Price Hits New All-Time High - BUY NOW

[Confidential] Planning for F*-Day

Guys, we should start detailed planning for F*-day.
Below is a very rough draft of the script for the upcoming bit-coin fork, as proposed by the Field Op managers at last week's meeting. Read it carefully and bring any suggestions etc. to the next meeting [Note 0]. Special Agents Neckbeard, SwampThing, NakaTuring, and BitSavior will be receiving additional details through the usual channel (if the backlog clears in time).
All times are UTC of F*-day. You must all have received a Chinese fortune cookie at the Friday brunch with the date; please keep it secret. (Harry, the janitor says that you left yours on the table; please see him ASAP.)
[Note 0] The next Field Ops meeting may be delayed since His Scaliness the Sub-Vice Lizard showed up for a snack and we are now looking for a replacement Secretary. Please keep your cochlear implants tuned for further announcements.
[Note 1] All values and coin amounts in these minutes have been computed with a javascript implementation of the Solidity bistromathics library, with sinking-point arithmetic, in order to confuse any enemy agents who may be reading this forum.
submitted by jstolfi to Buttcoin [link] [comments]

Since you asked: Bitcoin, and a scam you can spot a mile off

Since you asked: Bitcoin, and a scam you can spot a mile off submitted by AndreKoster to bitcoinxt [link] [comments]

MMM Global Republic of Bitcoin

Anyone else concerned that "MMM Global Republic of Bitcoin" will leave a bad taste in peoples' mouth about bitcoin?
https://www.facebook.com/MMMGlobalRB
Some of my friends in South Africa are really into it. It is a rerun of a ponzi scheme run by Sergei Mavrodi in the 1990s. It was Russia's biggest Ponzai scheme, defrauding thousands of people out of billions.
https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
Now Mavrodi's back. He's targeting people in South Africa, India, and globally. He's promising 30% to 100% MONTHLY returns. And he's using bitcoin. Coindesk just reported that Bobby Lee attributes the current bull run to MMM.
http://www.coindesk.com/bitcoin-price-breaks-260-to-hit-two-month-high/
My thoughts: thousands of people are getting sucked in. They are getting exposed to bitcoin. They will love it as long as MMM keeps running. Then the pyramid will collapse, they will loose everything, and possibly blame it on bitcoin. Your thoughts?
EDIT: I just blogged about MMM here:
https://letstalkbitcoin.com/blog/post/mmm-global-republic-of-bitcoin-cryptos-next-scandal
submitted by williamsuk to Bitcoin [link] [comments]

MMM founder claims credit for Bit-coin spike

MMM founder claims credit for Bit-coin spike submitted by SixLegsGood to Buttcoin [link] [comments]

My post was removed from /r/bitcoinmarkets

I'll repost it here.
It's always important to comprehend that most Bitcoins are not in circulation and may have simply been lost. As a result, the true market cap of Bitcoin is smaller than we imagine it to be. It's estimated that 20% of bitcoins have been lost. This means the true market capitalization of Bitcoin is closer to 147 billion dollar, than to 184 billion dollar.
Of the 147 billion dollar worth of Bitcoin, most have been gobbled up by a small minority of early adopters. Estimates are that 4.8 million bitcoin are held by 1000 individuals. The rest of the population competes over ownership of a fraction of the total supply. As a result, comparatively minor changes in demand for Bitcoins, lead to tremendous explosions in price.
If you take the above facts into consideration, you will understand that the various scams that operate in this market can execute tremendous influences on the price of a bitcoin. If you think carefully, you'll also understand that this will prevent genuine widespread adoption. Eventually you run out of people who want to participate in a project where their perpetual subservience to a small minority of early adopters is guaranteed from the start.
A number of Ponzi schemes are based on Bitcoin, or have migrated to Bitcoin to escape regulatory hurdles. Consider Bitconnect. A significant number of people who buy Bitcoins, buy Bitcoins to buy Bitconnect coins with them. If your Ponzi scheme doesn't depend on banks willing to work with you, the Ponzi scheme is less vulnerable to being shut down. A few months ago, the market capitalization of Bitconnect was estimated at 2 billion.
Now consider the market in Africa. People in Africa buy Bitcoins, because multilevel marketing schemes in Africa have migrated to using Bitcoin. This is an enormous market, that largely escapes our Western eye. Most of us don't understand how people end up stepping into Bitconnect either, it seems absurd to us. Your Google searches however are based on your search history and as a result, you effectively find yourself thinking and functioning in a different world from the rest of the population.
In addition to these Ponzi schemes, we have a number of exchanges that hold Tethers, which they imagine to be somehow backed by US dollars. There is no evidence whatsoever that any of these dollar reserves actually exist. Tethers have the mysterious habit of being issued whenever the price of Bitcoin is at risk of going down. If you believe this market behaves irrational, consider the possibility that it is simply being manipulated through schemes like these.
It's worth considering that most of the exchanges end up functioning as fractional exchange reserves. Hackers steal from the hot wallet, your software is bugged and accidentally sends out too many bitcoins, the exchange operators can't keep their fingers from the honey pot, etcetera. What do you do when you find you don't have your customer's bitcoins? You inflate the value of Bitcoin, to keep your operations going. That's what Mt. Gox did in 2013, to keep their fractional reserve exchange functioning. This works fine, as long as the value of Bitcoin can keep rising.
Bitfinex, an exchange that has been hacked multiple times and has been shut off from the banking system, came up with Tether to solve their problems. Through use of Tether, you can continually increase the value of Bitcoin. According to Bitfinex employees, Tethers are created when people convert other cryptocurrencies into Tether. In other words, Tethers come into existence because people buy cryptocurrencies, then the Tethers are used to buy more cryptocurrencies with leverage. This can last for a while, but it can't last forever, because eventually it becomes clear the Tethers are not backed by anything.
This whole scheme can't be sustained in the long term, but in the past few months the market has started to behave irrational. Whenever the system is about to fail, new Tethers are issued and the price crash comes to an end. It's clear however that this can't be sustained forever. There are a number of problems you run into. Bitcoin's 1 MB block limit leads to an eventual limit to the number of people who can move their currencies, which ensures transaction fees will keep rising. When Tether fails, the exchanges that are using Tether fail too as a consequence. Other Bitcoin merchants in turn depend on these exchanges, to buy and sell bitcoins. You would be a fool to try to short-sell Bitcoin, because you fail to understand the simple fact that the exchanges will cease to function when the value of Bitcoin starts to go down. It's best to take profit, get out while you still can and watch the building burn down from a safe distance.
submitted by moresourdough to btc [link] [comments]

MMM - Bitcoin's undesired killer app? /r/btc

MMM - Bitcoin's undesired killer app? /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Price Is ‘Like MMM Ponzi Scheme’: Russian Economic Minister

The head of Russia’s Ministry of Economic Development has compared Bitcoin to the infamous Ponzi scheme MMM.
Speaking at the Federation Council, Maksim Oreshkin repeated the theme of “unqualified investors” buying into cryptocurrency being “dangerous.”
“Because if you look at the dynamics of the Bitcoin price, they’re very like the price of MMM,” he said quoted by local news outlet RIA Novosti.
MMM originated in Russia in the late 1980s as the product of serial fraudster Sergey Mavrodi. Law enforcement shut the scheme down and arrested Mavrodi in 2003, but in 2011 MMM resurfaced and is now aggressively targeting consumers in Africa.
“There are very high risks here for those who are interested [in Bitcoin],” Oreshkin continued.
“It’s clear the state cannot protect these people; their actions come entirely at their own risk. I’m simply calling for everyone to be very careful with this issue.”
The minister’s comments continue the increasingly contradictory position Russian authorities have taken on Bitcoin.
A similar offer to restrict Bitcoin to “qualified investors” came from the country’s deputy finance minister Alexey Moiseev earlier this month, while central bank head Elvira Nabiullina said she was “categorically against” allowing it on the Moscow Stock Exchange.
At the same time, state-sponsored efforts to involve Russia in mining continue to gather speed as China’s supremacy seemingly becomes cause for envy.
submitted by ctmediagroup to Bitcoin [link] [comments]

[uncensored-r/BitcoinMarkets] Bitcoin's price rise is caused by Ponzi schemes, inflated expectations and money created out of t...

The following post by moresourdough is being replicated because the post has been silently removed and some comments within it have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7h2gtt
The original post's content was as follows:
It's always important to comprehend that most Bitcoins are not in circulation and may have simply been lost. As a result, the true market cap of Bitcoin is smaller than we imagine it to be. It's estimated that 20% of bitcoins have been lost. This means the true market capitalization of Bitcoin is closer to 147 billion dollar, than to 184 billion dollar.
Of the 147 billion dollar worth of Bitcoin, most have been gobbled up by a small minority of early adopters. Estimates are that 4.8 million bitcoin are held by 1000 individuals. The rest of the population competes over ownership of a fraction of the total supply. As a result, comparatively minor changes in demand for Bitcoins, lead to tremendous explosions in price.
If you take the above facts into consideration, you will understand that the various scams that operate in this market can execute tremendous influences on the price of a bitcoin. If you think carefully, you'll also understand that this will prevent genuine widespread adoption. Eventually you run out of people who want to participate in a project where their perpetual subservience to a small minority of early adopters is guaranteed from the start.
A number of Ponzi schemes are based on Bitcoin, or have migrated to Bitcoin to escape regulatory hurdles. Consider Bitconnect. A significant number of people who buy Bitcoins, buy Bitcoins to buy Bitconnect coins with them. If your Ponzi scheme doesn't depend on banks willing to work with you, the Ponzi scheme is less vulnerable to being shut down. A few months ago, the market capitalization of Bitconnect was estimated at 2 billion.
Now consider the market in Africa. People in Africa buy Bitcoins, because multilevel marketing schemes in Africa have migrated to using Bitcoin. This is an enormous market, that largely escapes our Western eye. Most of us don't understand how people end up stepping into Bitconnect either, it seems absurd to us. Your Google searches however are based on your search history and as a result, you effectively find yourself thinking and functioning in a different world from the rest of the population.
In addition to these Ponzi schemes, we have a number of exchanges that hold Tethers, which they imagine to be somehow backed by US dollars. There is no evidence whatsoever that any of these dollar reserves actually exist. Tethers have the mysterious habit of being issued whenever the price of Bitcoin is at risk of going down. If you believe this market behaves irrational, consider the possibility that it is simply being manipulated through schemes like these.
It's worth considering that most of the exchanges end up functioning as fractional exchange reserves. Hackers steal from the hot wallet, your software is bugged and accidentally sends out too many bitcoins, the exchange operators can't keep their fingers from the honey pot, etcetera. What do you do when you find you don't have your customer's bitcoins? You inflate the value of Bitcoin, to keep your operations going. That's what Mt. Gox did in 2013, to keep their fractional reserve exchange functioning. This works fine, as long as the value of Bitcoin can keep rising.
Bitfinex, an exchange that has been hacked multiple times and has been shut off from the banking system, came up with Tether to solve their problems. Through use of Tether, you can continually increase the value of Bitcoin. According to Bitfinex employees, Tethers are created when people convert other cryptocurrencies into Tether. In other words, Tethers come into existence because people buy cryptocurrencies, then the Tethers are used to buy more cryptocurrencies with leverage. This can last for a while, but it can't last forever, because eventually it becomes clear the Tethers are not backed by anything.
This whole scheme can't be sustained in the long term, but in the past few months the market has started to behave irrational. Whenever the system is about to fail, new Tethers are issued and the price crash comes to an end. It's clear however that this can't be sustained forever. There are a number of problems you run into. Bitcoin's 1 MB block limit leads to an eventual limit to the number of people who can move their currencies, which ensures transaction fees will keep rising. When Tether fails, the exchanges that are using Tether fail too as a consequence. Other Bitcoin merchants in turn depend on these exchanges, to buy and sell bitcoins. You would be a fool to try to short-sell Bitcoin, because you fail to understand the simple fact that the exchanges will cease to function when the value of Bitcoin starts to go down. It's best to take profit, get out while you still can and watch the building burn down from a safe distance.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Has someone tried to find Mavrodi's wallets related to MMM Global?

It's really interesting for me to find out if mavrodi's pyramid has such big influence on bitcoin prices at the moment. I don't believe that there are no people that tried to investigate the blockchain to find core wallets. But quick googling finished with no results. Can you help me?
submitted by logblpb to Bitcoin [link] [comments]

Alexander 亞歷山大 MMM GLOBAL2 BitCoin SERGEY MAVRODI - YouTube Сергей Мавроди о Bitcoin (криптовалюте). - YouTube Section Сергей Мавроди - MAVRO или BITCOIN? My payment from MMM 0.47 Bitcoin = ~ 500 $ !!! THANK YOU !!! MMM + Action for my subscribers!

MMM Mavrodi. u/MMM_mavrodi. 1 Karma. This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in the modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world's unjust financial system. Financial Apocalypse! Before you join, be sure ... Sergey Mavrodi talks about MMM to Chinese citizens The first financial pyramid of Sergey Mavrodi JSC MMM was registered in Moscow in 1989 as a cooperative and was initially engaged in trade — imported computers and accessories into the USSR. Then the company was engaged in other activities, including advertising and beauty contests. In 1993, MMM issued 991,000 shares, the price of which was ... Mavrodi Mundial Moneybox (MMM) is one of the oldest and largest Ponzi schemes in the world. Founded by Sergei Mavrodi, ... However, by targeting people in rural villages (people who don’t understand that the bitcoin price has never soared that high in such a short time), Bitcoin Wallet has been able to rake in hundreds of thousands in dollars daily. According to the company’s CEO, Bitcoin ... Mavrodi’s enterprise is called MMM, which is an acronym for “we can do a lot” in Russian. In its first incarnation in the early 1990s, as many as 10 million Russians participated in it as ... Sergey Mavrodi, the leader and creator of MMM global - currently the hottest ponzi scheme around - took credit for Bitcoin's recent price surge in a Financial Times interview: Given the confusion abo

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Alexander 亞歷山大 MMM GLOBAL2 BitCoin SERGEY MAVRODI - YouTube

This video is unavailable. Watch Queue Queue Не зря биткоины уже облюбовал всеми известный в 90-х годах Сергей Мавроди, создатель нашумевшей МММ. Новая ... MMM money grow 20-100% per month! Very easy to get the status of the manager! And More bonuses !!! For each person a unique site card for free! Luxury stocks and play only on my team !!! Join We ... This video is unavailable. Watch Queue Queue #mavro #mmmglobal #mmm #mavrodi #mavrocoin #bitcoin #ethereum #ether #mavrodicoin Show less Read more Uploads Play all. 4:40. MAVRODI COIN ICO COIN ...

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