PIPCOINS

[Excalibur]

The 21 year old Ref Wayne bought a private jet last week. He has also been giving away cars and houses to people.

 

[ForceFate]

https://www.reddit.com/r/southafrica/comments/4uxeov/til_the_latest_ponzi_scheme_pipcoin/

http://www.fin24.com/Finweek/Featured/beware-pipcoins-promises-20160811

It's ponzi scheme. This lad made quite a small fortune off the ignorant.

 

[rorz0r]

I had a look at his page on Facebook a while back. I'm basically jealous that I don't know so many gullible people...
What's cool for him I guess is that once the ball is rolling he can buy stuff and then make more money "showing off" and ultimately he's selling you his lifestyle while making you pay for it. Amazing.
The whole pipcoin thing is a load of bs. Anyone can roll their own cryptocurrency and the difficulty will start off so low that you can mine a bunch on your laptop.

 

[Kerrits]

I never said if it was crap or not. It's not a ponzi scheme because if it is then so is bitcoin. You're forgetting that bitcoin also had the same comments and detractors and still does. I still think it will fail in the end. Heck we don't even have an idea where it comes from. Perhaps this will get the same adoption creating millionaires from first adopters.

:crylaugh:

Did you read anything about pipcoin, or do you just go off the name?
Do you know anything about crypto currencies?

 

[Swa]

:crylaugh:

Did you read anything about pipcoin, or do you just go off the name?
Do you know anything about crypto currencies?

Yes and yes.

 

[DrJohnZoidberg]

Swa just trolling like usual yo.

 

[ForceFate]

http://bit-media.org/news/an-open-letter-to-pipcoin-founder-ref-wayne/

Would love to see his answers

 

[ice_cubes]

Would love to see his answers

he's a dreamer

 

[ForceFate]

he's a dreamer

Undeniable.

 

[^^vampire^^]

he's a dreamer

Dreamer/idiot, take your pick

 

[booya30]

been following this scam for a while now - wheels are finally falling off, although his dedicated followers still follow him.
People just want their money back now - seem to be starting Facebook groups. Guy can't even manage the negative comments on FB - he's just deleting posts now.

 

[ice_cubes]

yep, it died in june already....reality is only sinking in now...ppl are selling their pips

In other news, MMM is coming back to life

 

[etype123]

Pipcoin is now a real crypto currency

pipcoins is traded at : http://exchange.pipchain.info
wallets you can get here : https://pipchain.info/
block explorer for pipcoin : http://blockexplorer.pipchain.info
source you can get here : https://github.com/pipcoinpip/Pipcoin

 

[ToxicBunny]

Pipcoin is now a real crypto currency

pipcoins is traded at : http://exchange.pipchain.info
wallets you can get here : https://pipchain.info/
block explorer for pipcoin : http://blockexplorer.pipchain.info
source you can get here : https://github.com/pipcoinpip/Pipcoin

No its not. Notice how every link you post is a pipchain.info URL... its not traded on any open market exchange.

 

[asshat99]

On February 13, 2016, Nkele Refiloe published a whitepaper on a new electronic cash system that's fully peer-to- peer, with no trusted third party, called Pipcoin.

Lol - this white paper is nowhere. Also those coins that were initially sold for R300 (with the promise of 30 % increase per month - how does that even work with a free market coin) are now worth R4.3 when they actually allow trading and when there is someone dumb enough to actually want to buy one. Also - there is a huge stock held by a very select few. You would have to be fully insane to get into this now. The initial pump and dump phase for the gullible is over.

This is all you need to know:
http://41.50.96.101/richlist
The first 100 wallets (at least) have interesting balances - like they are just a store for founders.

 

[cavedog]

This is just like MMM. Ponzi scheme.

Now here is my question to you. What is the difference between taking a chance with a ponzi scheme and taking a chance in the casino?

One thing I really hate about Ponzi schemes is the owns withdraw large amounts of money from the scheme and that causes an early death....

I took a bit of a chance on MMM. Put R1000 bitcoins and a month later I did withdraw R1500. So there is money to be made but just as much can be lost hence my question what is the difference between a ponzi scheme and the casino. Both owners get rich and the poor fools trying to make some extra bucks gets a reword or a loss.

 

[asshat99]

This is just like MMM. Ponzi scheme.

Now here is my question to you. What is the difference between taking a chance with a ponzi scheme and taking a chance in the casino?

By knowingly participating in a pyramid scheme, you are actively participating in robbing people who come later. You seem to know this.

 

[cavedog]

By knowingly participating in a pyramid scheme, you are actively participating in robbing people who come later. You seem to know this.

I'm not robbing anyone. When you take part is very clearly states you need to accept that there is a chance of losing your money. It's very clear you can't continue without accepting that.

So if people lose money after me you can put that on me because just like them I took a chance. If I lose money I can't be angry at the people that joined before me....

 

[Eti1]

This is just like MMM. Ponzi scheme.

Now here is my question to you. What is the difference between taking a chance with a ponzi scheme and taking a chance in the casino?

One small difference is that licensed gambling activity is legal, while Ponzi schemes are not.

 

[asshat99]

I'm not robbing anyone. When you take part is very clearly states you need to accept that there is a chance of losing your money. .

You keep saying "Chance". In fact, the very definition is that most people WILL DEFINITELY lose their money despite all the deception and denials by the scheme. MMM tries to hide this (another key difference from gambling). You are helping that.