News for hackers. Stuff that matters.

A comment on MtGox.com is offline. Parent comment

Re:MtGox.com is offline by driverdan on Monday February 24, 2014 @11:47PM (#7295661)
I don't think you understand what a Ponzi scheme is.
[ Parent | on HN ]
Re:MtGox.com is offline by vesinisa on Tuesday February 25, 2014 @12:40AM (#7295867)
If MtGox actually had much none of the BTC they showed on their clients accounts, it was exactly that – a Ponzi scheme. Not sure if it changes the matter whether they did it intentionally or not.
[ Parent | on HN ]
Re:MtGox.com is offline by driverdan on Tuesday February 25, 2014 @07:39AM (#7297201)
No, that's a different type of fraud or downright incompetence. A Ponzi is when investors who are expecting positive returns are intentionally paid with other investors' money. That's not what happened here. Exchanges don't offer investments.
[ Parent | on HN ]