"On-Topic: Anything that good hackers would find interesting. That includes more than hacking and startups. If you had to reduce it to a sentence, the answer might be: anything that gratifies one's intellectual curiosity." - I maintain that a "good" hacker wouldn't find a blatant scam interesting. Especially not "just because it uses bitcoin".
It's beyond blatant; it's unabashed and self-aware. That's interesting - who would make such a thing? Who would pay into it? Will it still work even when people know what it is?
"Every time you send money to the Ponzi address, you'll get back 1.2x what you put in." - honestly, it sounds like a normal Ponzi scheme to me. It's probably targeting people who don't realize that Ponzi schemes by their nature always end up as scams.
"All of our activity is is open and public on the blockchain. It's impossible for us to cheat anyone out of their payout without everyone knowing." - completely ignores the point. 15% of the people who put money in WILL lose all of it. Period.
> "Every time you send money to the Ponzi address, you'll get back 1.2x what you put in."
You're cherry picking a quote from the FAQ section answering what the payout ratio is. All prior mentions of the 120% payout are clear that the payout occurs only if people invest after you. Such as the "How does this work?" section:
>Send bitcoin to 1ponziUjuCVdB167ZmTWH48AURW1vE64q, and you'll get back 120% of the deposit. The returns on your investment come from other investors, so as long as people invest after you, your payout is guaranteed!
Man who started well known Ponzi scheme in 1990's Russia is at it again, this time with full disclosure. People already lost money on the new one.
They will continue, it's like gambling. You're probably better off gambling on crypto dice sites like https://doge-dice.com though. Bet on 80% odds for a 1.2% payout. Results are instant, so you can develop an addiction.
