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Streamer Ice Poseidon admits to running a Ponzi Scheme on stream

eebster

eebster

Banned
Nov 2, 2017
1,596
Controversial IRL streamer Ice Poseidon, known for being a scummy pos with a racist incel fanbase and for being permanently banned on Twitch, just admitted to running a ponzi scheme live on stream. He claims it's not a ponzi scheme yet goes on to describe his company with a literal definition of a ponzi scheme. Though tbf he might actually be too dumb to realize it's a ponzi scheme
Let's hope this video spreads around so this guy gets properly fucked

 
Jam

Jam

Member
Oct 25, 2017
7,051
"We're building a company dude, like, we're building a website"

He perfectly describes a ponzi scheme, reiterates it repeatedly, says it is not a ponzi scheme and that the company is simply a website.

He does't even possess the charisma or bullshitting ability to be in any way convincing.
 
ascii42

ascii42

Member
Oct 25, 2017
5,798
If the intent is for this website to get advertising revenue that will in part be used to pay back investors, I guess it's not a Ponzi scheme. But he sure does a good job making it sound like one in that video.
 
Wraith

Wraith

Member
Jun 28, 2018
8,892
giphy.gif
 
BAYERN

BAYERN

Using an alt account to circumvent a ban
Banned
Feb 22, 2019
15
He's raising money for his company/website
 
dragn

dragn

Attempted to circumvent ban with alt-account
Banned
Oct 26, 2017
881
how can anyone be this sad and watch this idiot
 
killdatninja

killdatninja

Member
Oct 26, 2017
623
The only way for the original investors to make their money back is for additional investors to "invest" in the company (or they sell the company).
Ponzi scheme or not it sounds like an absolute disaster.
 

Deleted member 9714

User requested account closure
Banned
Oct 26, 2017
1,882
Ice Poseidon is an idiot and a sociopath with no conscience. However, I believe this is all the doing of Scuffed Steve Jobs.
 
scitek

scitek

Member
Oct 27, 2017
10,076
"In order for the investors to make their money back, what we do is we grow the company to a certain point, and then we have other investors come in and, obviously, they invest their money as well - hopefully more than some of the others - and then, obviously, when we get more than 2 million dollars invested, the other investors get their 2 mil back, and then we have more money for the company and...shit like that."
Click to expand...
Click to shrink...



Pon·zi scheme
/ˈpänzē ˌskēm/
noun
noun: Ponzi scheme; plural noun: Ponzi schemes
  1. a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
 
Tokyo_Funk

Tokyo_Funk

Banned
Dec 10, 2018
10,053
He looks like a douchebag, talks like a douchebag and acts like a douchebag.

3 red flags before he even made his pitch.
 
Slayven

Slayven

Never read a comic in his life
Moderator
Oct 25, 2017
93,143
He literally gave the law school 101 of pyramid schemes
 
Tokyo_Funk

Tokyo_Funk

Banned
Dec 10, 2018
10,053
Between TMarTn and Prosyndicate trying to scheme kids into gambling, Ricegum and Jake Paul trying to promote a mystery box scam and this guy trying to get people involved in a pyramid scheme openly, I think any hint of power and control over an audience makes them want more to test the waters of shittiness.
 
SuperBanana

SuperBanana

Member
Oct 28, 2017
3,743
He needs to announce his run for presidency. Past crimes don't matter when you do that. I heard it from a legal expert.
 

Mr.Awesome

Banned
Nov 4, 2017
3,077
What he says is not a ponzi scheme but I dont really know what hes doing. He sounds like an idiot and has no idea what hes doing though. What's the business he has?
 
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