My first round I invested 1 bitcoin and got back 3
The second time I invested 5 and got back 23
Both times took about 2 months.
I don't know who made this. I found the link while trolling around some image boards about 6 months ago. I still can't really find much talk of it.
Has anyone else used this system or know someone who has?
Does anyone know anything more about it?
The Bitcoin Funtime Ponzo
Up to 10 times a return on your investment
A minimum of your money back
This document was updated on 10/05/2011 – current turn time with a very small group is about 6 weeks
Let's get this out of the way first:
This is a Pyramid and at some point people will stop joining and the people at the bottom will not be able to move up. This system has been set up so when the time comes that it fails, the people at the bottom are returned their original investment. We have an “end of fun time fund” saved up and in place to cover the payouts when the system someday fails.
Now the plan:
Follow these steps to become slightly richer very slowly or just to shuffle around your bitcoins a bit. Double check the info in your email and then check it again. There is no confirmation process and no logins or password. You are sending your bitcoins into the ether and someday they come back.
WE DO NOT HAVE A WEBSITE. firstname.lastname@example.org is the only way to reach us.
At first we expect the process to take about two months but as more people join, the turnaround is expected to go down to less than a week. With a large number of people joining there is no limit to how quick the turnaround could be.
OK, let’s do it:
Follow these steps exactly or you could lose you bitcoins forever
STEP ONE: Send Bitcoins
1. Open your bitcoin client or whatever you use
2. Press “Send Coins” or however you do it.
3. Enter any whole amount and use 5 decimal places. Example: 12.86754
4. Send to any of the address listed under this step. They are all the same place.
5. Take note of the bitcoin address and code. You will need it for step two.
6. Send it
7. Done. Go to STEP TWO.
CODE WORD Address
STEP TWO: Send email
1. Open a new email.
2. Enter the Subject “funtime”. NOTHING ELSE.
3. Copy the form below into the email.
4. Fill out the form.
5. Send email to: email@example.com
6. That’s it. The return will come directly to the bitcoin address provided with no other communication.
+++>>>>START COPY FROM HERE>>>include this whole line>>>
Bitcoin address you used to send to funtime:
Bitcoin address code word:
Bitcoin amount sent:
Your bitcoin return address:
<<<END COPY HERE<<<include this whole line<<<<+++
Don’t worry too much; the reader is reasonably forgiving on the formatting. Just make sure you don’t add anything weird or delete anything.
If you must know, the parser is mainly looking for the “++>” and “<++” and there needs to be 15 lines with characters on them but you don’t really need to know any of that.
Zeros will work for the decimal in your bitcoin amount but please don’t do that. The extra places help us match up your email with your deposit.
Spreading the word will help make the payout come faster but you do not receive any extra bonus for doing so.
DO NOT SPAM MESSAGE BOARDS and DO NOT SEND MASS EMAILS. Doing so will hurt the system and it leads to more spam in our mailbox.
What happens to my bitcoins?
The amount sent will be rounded down and divided to fit into the investment groups. The amount taken away in rounding is saved and added back to the total before it is sent to you.
We have groups of different values which grow at different rates. We divide the amount you send to us to fit into these different set groups.
There are 10 levels and each level has a different amount of steps. When we add one of your amounts to a group everyone moves up a step and the top level will be paid out.
Each level protects an amount that will be returned to the investor should the system fail or we decide to close a group. Bitcoins obtained on the steps within a level would be lost but since there is no tracking on the investors end, the investor would never know. That lowest amount returned would be about what was sent to us.
It’s a little more complex then what is explained above but those are the basics.
Do you have some questions?
Why are you doing this?
Because we make a little bit of money with each investor and we use the bitcoin in the system to fund other money making projects. We are not getting super rich from the Funtime Ponzo on its own. The profit is actually quite small for us but the access to the capital in the system give us investing power much stronger than average users.
So you are playing with our money?
Kind of, but we know what we are doing. The level/step system protects a bit of your investment along the way.
Won’t this system fail at some point and a large amount of people lose bitcoin?
Yes, it will fail at some point. No, people will not lose bitcoin. When the system fails, the people stuck in the system will receive their investment back with no profit.
Where does the bitcoin come from to pay the investors left in the cold?
We have a fund set up which was built up from alpha tests of the system. Technically these funds come out of our pockets but since we are in profit we can afford the cost. Some funds also come from people who do not format their emails properly. FOLLOW THE INSTRUCTIONS CAREFULLY.
Are you trying to trick us?
We are not trying to trick you. Send us an email with the 15 lines of text and the subject “funtime” and you will not have a problem. We do our best to make sure everything is processed but every email we have to fix slows down the system. Fixing every problem would bring the system to a standstill.
Can I ask you a question?
No. Only emails in the proper format will be processed. All other email is sent to a junk file for us to try to parse but will most likely be lost in the mix. Even with our small alpha test, the junk file became overwhelming.
But I really have a question I think is important.
OK. Send an email to firstname.lastname@example.org with the subject “link” (NO OTHER TEXT).
We will respond by adding your question to this document in the future. If appropriate, we will respond to your email. If your question could be answered by basic searching and other forums, we will ignore it.
If it is taking too long to get a return, you should promote this system with your friends. If we find the system is slowing down too much, we will cash everyone out at the level they are on. You can send a question email to us asking if we are still running and current turn time but you should make every effort to find this info on your own.
AGAIN, DO NOT SPAM OR MASS MAIL ANYONE.