For Bitcoin BTC in the news today, some guy from Texas ran a ponzi scheme and people fell for it, the man received 700,000 Bitcoins and spent it on himself, instead of his promise to give the investors 7% return. ERRR!!!! who’s stupid enough to fall for this? yeah some of you are!, too good to be true, too greedy people, some even buy Bitcoin to use it for this 7% return. Anyhow, some how he was able to do this himself and got tons of people fall for it and spent it on himself. I believe the same methodology he was using as Coingeneration.com Digital Generation are using today.
Even worse, the man from Texas whom ran the BTC Bitcoin Ponzi scheme probably had all the proper documents certified and registered business, and he feel comfortable and confident that he can get 7% profit for everyone, and so he does, and he did, but only for a short period of time and then it all fall apart where he can no longer make a profit to give the investor 7% profit. So why does this have to do anything with coingeneration.com? simple answer: same concept, although probably not a ponzi scheme but something similar, at the beginning the they will trick you in spending money and giving you large amount of money back, you feel awesome! and want to spend more and more and more and get more and more people to join, and then it start to get iffy! such as recently with coingeneration.com , payza noticed something doesn’t look right with coingeneration.com so payza ended it’s relationship with coingeneration.com and frozen all transactions on hold for up to 180days for investigations. So what’s the investigation about? – what if payza found coingeneration.com is a scam fraud, will payza reported to the FBI or whoever the authority is where the business was ran from?
At the moment many people at coingeneration.com had their available balance and account frozen, isn’t it strange that they allow in and not out? meaning that you can spend money or deposit the money into coingeneration.com but you cannot take it out? RED FLAG!!! hello! Isn’t it strange that many people reported their account frozen because their available balance is very high over $500 or over $1000, others have no problem. Isn’t it strange that some users said they can request payout, but it has been pending forever!? What is coingeneration.com doing at the moment? what are their resources allocated to? how many people working at coingeneration? these and many other questions people should be asking before dumping all their money into coingeneration to make a big profit, this could be another story like the texas man arrested today for running Bitcoin ponzi scheme that not easily spotted but in the end indeed was a ponzi scheme!
Bitcoin is real, but how people use Bitcoin is another story, they use it to run illegal business, scam, fraud, and so on.
Coingeneration.com Digital Generation, as today, no one really know what they’re doing, if the Admin from the chatroom said they’re doing Folding@home, that’s a flat out lied! many speculation indicated coingeneration.com ran a fake program that doesn’t do anything beside updating like SMS package once in a while and calculate $ as the program being run just to make it look legitimate and look good. The positive side of this is that some people are getting paid not sure how many and how much? also another positive is that coingeneration.com appears to be updating communicating to its users what they’re doing with the payza and account frozen problems. Who knows what will happen next? but my personal opinion is, doesn’t look good! hope you all get at least the amount of money you invested back before it all fall apart!