The_Care_Bears wrote:HYIPs died slowly years back after Genius Fund fiasco. 99.99% of people in crypto don't even know what is an HYIP, nor where to find one. Bitcoin is not anonymous, criminals use "privacycoins".
Less than 1% of the total transaction is used for illegal activities, to compare with, $100 billion per year is draining the illegal substances market in the USA alone. Not even counting worldwide with all shady businesses
As for casinos, I don't know about it so can't really talk about but I have been in once, and the "set up" look like a scam to me.
The point is, Bitcoin is unregulated and you cannot charge back. When AlertPay and Payza were used, people had the luxury of disputing and sometimes they got resolution and some of the money back from the scams. With PerfectMoney and BTC (2 of the options used in HYIP now) you no longer have that option to recover some of your money.
As far as anonymity - HYIP criminals are experts, even the few that managed to use PayPa or direct bank transfers, managed to do so, they have the resource to fake identity, fake company registrations etc (GeniusFunds, Infinitiva, Panamoney, Verifield, etc.) they even went as far as showing PICTURES of their offices, employees, etc..... Yes HYIP took a big blow when GeniusFunds stopped, why ? Because many HYIPs were piggybacking off of GF and Infinitiva, GeniusFunds was the scams of all scams, GeniusFUnds, Panamoney, Infinitiva, Cherryfunds, you name it
HYIP slowed down after a while but it did well considering - Not all BTC users are criminals, but the ease and availability of cryptocurrency + the remaining PerfectMoney (a libertyreserve clone) facilitate things and provide life support.HYIP monitors and MNO is still there, there are less of the so-called sustainable HYIPs, a lot more quick scams now that's for sure, HYIP admins became smart, they caught on to the hit and runners.........
Let's face it - HYIP and scams also kept the PTC industry afloat (those PTCs that accepted them).... Though now the trend and craze is with those new generation ponzi schemes disguised as revenue sharing / ad sharing sites. And yes there have been big scams using BTC, where an HYIP admin have made a killing - Banana Funds to name a few, many of the bitcoin casinos online that are unregulated and rigged (unfair), they distribute winnings using a ponzi model, so now you have ponzi schemes / HYIP disguised as casino / games and turn it into a lucrative affriliate program a la gamblign builders and other rubbish. And yet people still say "But I won money so it's legit" yeah - where does that money come from ? :/ these fraudulent online PM & Bitcoin casinos, unlike a REAL casino, do not have funds to back every winnings, unlike a casino that has reserves to cover all the chips and winnings, rogue online casinos use an algorithm to determine winnings based on the ratio of deposits - I guess you can say that even real casinos are ponzi schemes
But at least they are regulated by gaming commissions and a guaranteed % payout over x amount of time is ensured.The PTC industry is basically dead, the few remaining ones are on life support and unfortunately the GPT industry will follow due to the declining quality of offers and crowd tasks.
And last but not least, let's not put ALL the blame on site owners and criminals, because I think USERS also contributed to destroying the good industries, users trying to cheat PTC owners, users trying to CHEAT offers and tasks, you have to look at both sides of the coin - there are scammers on the member / user side that have done some hefty dmage - who are the real criminals here ? They exist on both sides! Now that PTC is out of the picture and tasks are heading towards automation and the few **** breadcrumbs left, won't cut it, offers gone, tasks gone, what's left to earn from ? You will then have to work hard and use skill and qualifications to get you the money, in the end all the good honest members who were relying on a mere supplement income will be punished when they did nothing wrong.
Let's enjoy the opportunities we have now whilst we can ! and perhaps we can play our part by not supporting those scum bag criminals. I've been a victim to scams and HYIP myself, enough is bloody enough, I quit HYIP 6 years ago and never touched any of those rubbish sites since then, I've played my part by not supporting such industries, it's the only way these industries can die. I have been following industry though from a research perspective, but never have I touched a single of the HYIP programs. Richard O'Neill followers keep on believing his **** each time he creates a new program then you lot end up getting burned, and cycle repeats over and over...........
