Ruja Ignatova was an unknown outside of China and a select group of Europeans. Like all Ponzi points, it had no value outside of the scheme you invested in to acquire them. This prompted Prosper LTD to come up with an unregistered technical analysis pdf investopedia forex share offering. Not surprisingly, BNA also crashed upon release.
After scamming who knows how much from a predominately Chinese affiliate-base, the BNA crash prompted the departure of core Prosper Ltd members. Shortly thereafter, they began initiating plans to launch their own clone Ponzi points currency. The Sabway website domain was privately registered on November 25th, 2014. I suspect it’s only being kept alive to appease the few diehard Chinese investors who refuse to let go. Ponzi points outside of a Ponzi scheme inevitably results in a crash.
This is because outside of the Ponzi scheme the points are attached to, there is no demand. And with the value of the points artificially propped up by promises of riches to the Ponzi faithful, there never will be. BNA as they tried to go public meant merchant network integration never happened. In order for merchants to accept Ponzi points, the points have to be released into the wild.
The Ponzi paradox of arbitrarily setting the value of points on the sole condition the new value can’t be lower than the current value, means withdrawals today exceed actual funds invested yesterday. What this really means is there aren’t funds in the kitty to pay everyone out. And so you have the current situation where 99. This means no more credit-card processing, with investors instead required to push money through less than reputable alternatives. That and the ongoing police investigation into the scheme hasn’t gone down to well. Instead they’ve swept them under the carpet, with a reschedule of their planned Chinese event to the offshore jurisdiction of Macau. As long as the company has their money, they’re screwed into complacent silence.
Some will bark denials and others, eager to scam whoever at whatever cost, simply don’t care. Now you know it’s just the continuation of scamming from a group of veterans that have been at it for years. May 6th, 2016 at 1:04 pm K. Thank you for the coherent research and flying it all together. I knew about, but which were thrown around in disarray or lost outside of the cohesive context you have presented.
Thank you for your steadfast and brilliant journalism, and for providing the source information in nearly all cases. That is what makes a great journalist, and it is a pleasure every time I see you post a new story in this. Kudos on typing through the bullshit and exposing this from nearly the day it all started! You have continued to provide your readers with the juice and fuel to power the troops and arm the front line, as well as dissuade unsavvy newbs for falling for such schemes!
Only way to prove that it is a scam, is to see their coin production in dubai and sofia, unless you have proof that it is not done, you should not talk like you know it is a scam. There is no coin production outside of that. Second, what does coin production have to do with using newly invested funds to pay off existing investors? Alright, how do you know the coin production is some script running in their computer office Oz? If they’re going to pretend to generate coins they have to be running a script that generates Ponzi points as per their set parameters. You don’t sound like you’re quite there yet so I suggest you go off and do some research. Oz: What are you talking about?
There’s no need for more and more better computers to mine coins in a centralised structure. If there would be a centralised cryptocurrency in need for such a massive computer power it would be the stupidest thing ever invented. For example a car engine running with dead squirrels would be a smarter invention. They can deny it all they want, but deep down inside these OCZombies know what they are up to.
Some people you just can’t reach. The ponzi pumpers bank on it. There is no difficulty, they just their script to produce X coin points a day. Blahblahblah newly invested funds are used to pay off existing investors.