Quote:
Originally Posted by Bobo Fett
Not many terms get misused on this forum more than "Ponzi scheme", but this is one of the worst examples I've seen. I'm thinking that, given the next passage I quoted, perhaps you don't understand the situation correctly:
My understanding is that they're doing exactly the opposite. According to all of the information I've seen in this thread, when they took over the site, they inherited the debt to these players. They didn't get the money - just the paper balances. So no, they're not "taking a loan" - they're repaying the old owners' loan for them.
That's not to say this situation is great, and I can understand the viewpoint of you and others that this should be handled differently, just as I can see where JS is coming from. But the portions of your post that I quoted struck me as terribly inaccurate, and needed correcting.
There is no "correcting" necessary from my post/viewpoint.
By requiring certain players to generate more rake, before being allowed to withdraw funds they already have on the site is borderline ludicrous.
But as I stated, if the new owners intention, is to segregate funds, and direct rake toward the payback of debt to players.......I can appreciate that, however........in a sense, as I mentioned, this is basically taking a loan from said players......and they deserve to be compensated accordingly. (and certainly should not be required to generate more rake to the site before receiving their money...that which is already theirs !)
And you must have your head in the sand if you cant understand why easy deposit, but overly restrictive cash out policy (like an $85 fee on a $100 cash out request), doesn't WREAK of Ponzi Scheme tactics, of promoting deposits, whilst restricting cashouts, all in the attempt to keep cash on the site.
Cash that is supposed to be segregated and NOT used for operating expenses. Cash that is supposed to be always and readily available for cashout upon player request, no matter what the amount.
I make no claim that this skin or network is such, but stick by my OP.
The player community is watching.
Last edited by ZenForest; 05-14-2015 at 03:56 AM.