01 Aug '12, 7am

Bitcoin Ends July Up 39%, YTD 2012 Now Up 98%: #Bitcoin

Bitcoin Ends July Up 39%, YTD 2012 Now Up 98%: #Bitcoin

This should come as no surprise. One of the first online services to accept bitcoin was called the Bitcoin Randomizer and it did not hide its function. Randomizer advertised that it would issue payouts to earlier ponzi participants using the proceeds brought in from the most recent contributors. There was no deception and in the end, those that did lose a couple dollars worth of bitcoins when the operator shut the service down likely got their money’s worth from the entertainment value.

Full article: http://www.bitcoinmoney.com/post/28473024447/july-2012-re...

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