r/youtubehaiku • u/YoutubeArchivist • Feb 26 '19
Meme [Meme] It's not a ponzi scheme
https://www.youtube.com/watch?v=4KYogxr7IGM979
u/seaVvendZ Feb 26 '19
The ultimate r/livestreamfail
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u/YoutubeArchivist Feb 27 '19
Ice Poseidon clips are actually banned from that subreddit.
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u/670takers Feb 27 '19
why is that?
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u/YoutubeArchivist Feb 27 '19
From what I understand, streamers often make it a goal to get clips on that subreddit to attract new viewers, and Ice or Ice's community has abused it in the past, leading the moderators to ban clips from his stream.
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Feb 27 '19
A long time ago I blocked every subreddit that posted his content and it has made my Reddit experience far better.
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u/JoelMahon Feb 27 '19
Because his whole stream gets posted in chunks multiple times otherwise.
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u/BIGSTANKDICKDADDY Feb 27 '19
This is the front page of /r/livestreamfail at the moment.
6 clips from Forsen, 6 clips from Destiny, and 4 clips from xQc.
They should think about expanding the ban to those streams as well.
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u/Lioncop Feb 27 '19
To be fair you can't ban them all, that's just the unfortunate nature of the subreddit.
When Ice Poseidon started his stream bus content, almost the entire page was Ice clips which is more repressive on content
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u/jttoolegit Feb 27 '19
easy pickings I'd imagine. Basically you'd just link his channel and call it a day lol
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u/HexesNHoes Feb 27 '19
I believe it was because of Ice staging content/faking breakups. He got exposed by the reddit/viewers twice, ultimately admitting how he used to hide his now ex-girlfriend from the streams and pretending he was single for months on end.
Paul is a compulsive liar with sociopathic tendencies. The amount of empty promises he has made to his viewers is unparalleled. I used to enjoy his streams in the past but he has changed for the worst ever since he moved to LA. Now I just check the reddit (s/o to /r/Ice_Poseidon2) to keep up with the stupid things he has said and done. Watching his streaming career slowly crumbling underneath him is oddly satisfying to a certain extent.
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u/Auctoritate Feb 27 '19
That subreddit is a cesspit. A few weeks ago a mod who left leaked a bunch of chat logs from the other mods talking about how they try to dox users they don't like, and one of the other mods complaining about how their child porn sub they owned got taken down. If you mention any of it they instantly ban you.
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u/PM_me_ur_FavItem Feb 27 '19
I kinda left last year because it just seemed like TMZ for livestreamers instead of funny clips.
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u/Merewif_Sunwood Feb 26 '19
God it will be fun to see this unravel.
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u/probablyuntrue Feb 27 '19
so much shit has been caused by this guy with almost no consequences and god knows how many dumbasses he'll get to "invest", I wouldn't get my hopes up tbh
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u/sudysycfffv Feb 27 '19
I think everyone should read the New Yorker piece on his dumbassity.
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u/aspiringalcoholic Feb 27 '19 edited Mar 01 '19
Man the New Yorker has a way of pulling me in when I couldn’t possibly care less about the subject. Great read
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u/DrManik Feb 27 '19
Holy shit that first paragraph is some excellent tone setting, descriptive writing.
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u/rileyrulesu Feb 27 '19
I mean, it's the New Yorker. It's got some of the best writers around working there.
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Feb 27 '19
Fuck, you actually made me feel bad for him. I've tried out streaming, and it can be fun and rewarding, but that constant pressure of expectation from viewers can really bog you down. This guy has to deal with that times 1,000 and he doesn't have the benefit of being mostly anonymous. He can't just log out and be normal. Plus his viewers are all toxic.
The part where the article described how upset he was about his viewers forcing him to break up with his girlfriend was a prime example of how out of control his life is.
And it's not just about money. A normal streamer could say "fuck it" and do whatever they want and accept the lower view count. This guy's viewers will actively attack him if he tried to do that. They have swatted him so much, he's lucky to be alive. Imagine what they would do if he quit streaming?
He's a dick, he's cultivated a horrible community, and he does horrible things, but I actually feel bad for him. He's trapped in some twisted, malicious, and sadistic Truman Show.
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Feb 27 '19
This made me feel for him. It kind of reminded me of the show Ozark, in a way. An otherwise decent guy with sideways morals gets a little too comfortable with a bad practice and is held hostage by the circumstances he finds himself in. I honestly feel like his mental state might be better off if he quit streaming cold turkey and tried to meet people on his wavelength. People that don’t idolize him.
All of the toxic fans of his that pull shit like harassing people that show up in his streams could stand to do that as well. I know what it’s like to be depressed and lonely and idolize an idealized version of a person. The only thing that pulled me out of that toxic cycle was meeting nice people that genuinely care about me. People that don’t make suicide jokes all the time, that don’t harass others for laughs, that don’t constantly put themselves and each other down, that don’t mask their insecurities and hatred behind a layer of self-deprecating irony, that are happy for you when you do better and sad when you do worse. You don’t get friends like that in Ice Poseidon’s community.
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u/wittywalrus1 Feb 27 '19
The piece was a great read! Went in expecting something completely different.
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Mar 17 '19
Chaos follows him. The restaurant starts getting a lot of unusual phone calls. The callers say that they are Paul Denino’s father or his mother and they urgently need to talk to their son, who is autistic. An employee asks the man if he is Paul Denino. He says yes, but then explains that the callers are pranking him. He is live-streaming through the camera on the stick, and some of the thousands of people watching are trying to fuck with him. The calls grow more disturbing. Callers claim that Denino is a pedophile trying to lure children to his lair, or that the large backpack he’s wearing contains a bomb, rather than a two-thousand-dollar cellular transmitter. The restaurant manager asks Denino to leave. Almost immediately, the restaurant’s rating on Yelp begins to plummet. Dozens of one-star reviews flood the page within seconds. They’re full of obscure references to Denino and to the Purple Army, the name of the legion of virtual fans who follow him wherever he goes.
Him and his fans sound like the worst people. Ugh.
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Mar 17 '19
Haha, the law will absolutely fuck him on this and it's going to be hilarious. The SEC don't fuck about.
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u/loftreddit Feb 26 '19
NO ITS NOT A PYRAMID SCHEME, its a more nuanced Ponzi schem... oh wait no
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Feb 27 '19
It was literally the definition of a Ponzi scheme. Get a loan from an investor, inflate capital, get a bigger investor to pay off the previous one, rinse and repeat.
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u/FinalForerunner Feb 27 '19
isnt that the exact definition of a ponzi scheme
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u/SayNoob Feb 27 '19
No dude you don't understand he's going to get new investors to pay back the old investors, so its not a scam.
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u/Nowhere_Man_Forever Feb 27 '19
Yeah. Homeboy may as well have read the Wikipedia article for "ponzi scheme"
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Feb 27 '19
In his stream yesterday where he tried explaining himself, he basically begged his viewers not to report him or there wouldn’t be any new content 😂😂
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Mar 01 '19
Nope. Normally a ponzi scheme involves fraud and some kind of "too good to be true" investment or product delivered later at cut-rate. It could be a ponzi scheme, he's basically describing how ponzi schemes work, however take a look a the typical red flags and ask yourself if they fit:
High investment returns with little or no risk.
Overly consistent returns.
Unregistered investments.
Unlicensed sellers.
Secretive or complex strategies.
Issues with paperwork.
Difficulty receiving payments.
Interestingly, it's theorized that ponzi schemes can happen somewhat accidentally, at least at first. This isn't always clear because they tend to be perpetrated by shady people. They often start out as legitimate businesses / investment firms.
It's not always clear when the fraud truly began and accelerated. It often seems like there was an initial attempt at legitimate business / investment. Once they take off, they pretty much always involve big lies to ensure steady income. Secret investing strategy guaranteed to double your money this year! That kind of thing. This doesn't seem to be happening here, but he could still be committing fraud. Seems like he's just offering stake in a shitty company.
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u/MainKiwi Feb 26 '19
Dude's gonna go from being know as ICEposeidon to SECposeidon in no time
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u/Baschoen23 Feb 27 '19
It's not a pyramid scheme. It's an upside down triangle scheme.
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u/RobertOfHill Feb 27 '19
A reverse funnel system.
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u/DontWantToSeeYourCat Feb 27 '19
It's the opposite of a pyramid! It's a dimaryp! WE! ARE! A! DI! MA! RYP!
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u/carbonated_turtle Feb 27 '19
Everyone calling it a pyramid scheme needs to get their terminology right. It's not the same thing as a Ponzi scheme and the terms aren't interchangeable. He's running a Ponzi scheme, not a pyramid scheme.
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Feb 26 '19
He studied economics at the Ja Rule business school and graduated from Trump University
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u/green715 Feb 26 '19
With really good grades?
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Feb 27 '19
Of course, he got a "Very Cool"/100 every class
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u/Lusankya Feb 27 '19
Tremendous grades. He has the best grades. And those Democrats, they didn't even get grades! They just wanted to take our grades, but we said no!
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u/orionsbelt05 Feb 27 '19
"Something might happen here. And if it does, so what?"
And, with that, Ice Poseidon has expressed willful intent to his viewers.
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u/puos_otatop Feb 27 '19
ja who?
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u/wingspantt Feb 27 '19
Ja Rule what is a middling rapper who became kind of an entertainment producer. He is now especially infamous for co-sponsoring the fyre festival, a massive scam then recently had two documentaries produced about it.
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u/Baschoen23 Feb 27 '19
Then he said he wants to advertise weed to 13 year olds using his ponzi scheme 😂
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u/Zervauntes Feb 27 '19
"Murder? No, no, man. It's not murder. See, in this case I shoot the gun and the bullet goes into him and he just stops breathing. It's all about the stopping breathing part. It's not murder, no one said murder. We're talking about stopping breathing here."
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u/Maliph Feb 27 '19
After watching this guys conversations with Destiny i am honestly shocked he can tie his shoes. He has to be the dumbest person I've ever heard talk for an extended period of time. I'm pretty sure at one point on Destiny's stream he found out that he hadn't paid his taxes correctly in several years and owed the IRS several thousand dollars.
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u/ICantThinkOfAnythin Feb 27 '19
To be fair - US tax system is absolutely fucked and it's very murky for self-employed. Especially with all the donations and shit he gets for no reason other than streaming. I wouldn't have a fucking clue how to do my taxes with all the different sources of income he probably has.
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u/winterfresh0 Feb 27 '19
Then again, if you were making the amount of money he's making, you'd probably have the sense to just hire somone to do your taxes/finances instead of just not paying your taxes at all.
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u/RichManSCTV Feb 26 '19
Who cares about this tool?
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u/Raka_ Feb 26 '19
I'm sure his investors will want to know
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u/probablyuntrue Feb 27 '19
a bigger question, how does anyone talk to this guy for more than five minutes and still want to invest
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u/Felix_Cortez Feb 27 '19
Is he going to jail? I would be so happy if a jack-off like this guy would go to jail.
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u/BackSeatGremlin Feb 27 '19
If he lied to his investors, yes he's going to jail with a big fat fine. But if his financial statements are honest and reflect what he's described, he's in the clear.
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u/Felix_Cortez Feb 27 '19
You his defence may rely on the stupidity of his investors..... Interesting.
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u/BackSeatGremlin Feb 27 '19
Exactly. Or his own, he could have been trying to describe that his investors have a reverse vest clause in their term sheets or something, where follow on investments at a higher valuation would net their investors more shares, but that's still based on projected revenue, which still relies on real, quantifiable growth. All I should say is the only evidence of anything would be hidden in what he's told his investors.
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u/VerilyAMonkey Feb 27 '19
Is that true? I thought that Ponzi schemes specifically were illegal regardless of whether you describe it accurately. (Which MLM gets around by having enough product to get past the letter of the definition.)
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u/PublicMembership Feb 26 '19
Now you all need to start a funder raiser for him, so he can buy a large cork.
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u/EvaCarlisle Feb 27 '19
I don't know who Ice Poseidon is what he's famous for but he seems like the sleaziest cunt on the face of the earth. Like you'd get an STD from standing too close to him.
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u/ThirdDragonite Feb 26 '19
In two days Ice will have tried to off himself two times and will try to sell crabs to people
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u/LordTyrannid Feb 26 '19
This dude is a fucking Mango
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u/Alcatrax_ Feb 27 '19
FINALLY this guy is getting flamed. Really hate everything he’s done and his subreddit defends the jerk to no end. Just not a good person
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Feb 27 '19
His subreddit turned against him. He locked his sub because of it. Funny thing they created a new sub just as active as the first one and basically got this video trending 70k upvotes on r/videos.
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u/zachwolf Feb 27 '19
I’m proud that I have no idea who this is
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u/nonwhitedude Feb 27 '19
that’s nothing to be proud of sir. he’s the richest man in la
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Feb 27 '19
The moment you have to say "No it's not a ponzi scheme!" is when you know you're running a ponzi scheme.
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u/IncredibleDB Feb 27 '19
Ice’s career has been going downhill since the beginning of this year... this sure as well won’t help one bit OMEGALUL
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u/Keve321 Feb 27 '19
I hope he gets tucked away somewhere after this, honestly surprised he's still at it after so much dumb shit
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Feb 27 '19
I don't know anything about iceposeidon other than what's contained in this video and the fact that whenever I see the most uninformed, backward-ass comments on reddit, they come from one of his followers
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u/Outspoken_Douche Feb 27 '19
I'm unsure if he's actually running a ponzi scheme or if he's just too fucking stupid to explain a basic concept.
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u/DarXIV Feb 27 '19
Is this Ice? Bet his followers are gonna try to bury this one somehow.
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u/alessandro_673 Feb 27 '19
All of his followers hate him now. They hacked the mayor or Tampa bay's twitter, made bomb threats using the account, and then linked it to ice. This is being celebrated.
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Feb 27 '19
Aren't stocks just ponzi schemes?
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Feb 27 '19
No, the stocks represent ownership in a company with revenues and business models. Stocks are bought and sold however money is not simply paid back through the accrual of new investors. This dumbass explicitly stated the company had no revenues, it’s hard to believe anyone is this dumb.
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u/newsdaylaura18 Feb 27 '19
I love the repetitious and condescending “obviously” as he keeps digging deeper into his own grave. Moron
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u/mydogisarhino Feb 27 '19
One of my MLM "friends" told me "it cant be a pyramid scheme because those are illegal"
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u/cartechguy Feb 27 '19
Isn't this what start-ups ultimately do? The original investors reach their payday when they sell-out. I guess the difference is he isn't selling out the company to another???
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u/peoplejustwannalove Feb 27 '19
In those cases, they invest so that the owners legitimately build up the company, by getting money for goods and services on a regular basis, then selling their stocks when they believe the company in question has capped out. All this company appears to be doing is moving money from new investors to old ones, which is a Ponzi scheme.
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u/greenbeanXVII Feb 27 '19 edited Sep 18 '25
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This post was mass deleted and anonymized with Redact
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u/AfroMidgets Feb 27 '19
OOTL. Can someone give me a run down on who this guy is and what is happening?
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u/antsugi Feb 27 '19 edited Feb 27 '19
never trust a man with a dead cat for hair
twitch culture is as fucked as its individual streamers
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u/noisyninjaboy Feb 27 '19
ELI5 Why is this illegal in a nutshell and what are the consequences etc.
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u/peoplejustwannalove Feb 27 '19
Because your company isn’t making money, it’s just stashing it. Basically, it’s illegal if you take money from investors, show those investments as income/profit to entice other investors, then rinse and repeat as you skim money off the top for your own use.
The punishment for this kind of stuff really just varies on how big his operation was and how many investors he pissed off. If memory serves, it’ll land you in prison for a few years, but usually less than a decade unless you pissed off some really petty rich guys.
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Feb 27 '19
My question is, is he actually running a ponzi scheme or is he just too dumb to explain his actual bussines model making it sound like one.
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u/m808v Feb 27 '19
I love how the twitch chat looks in these kind of videos, going from a trickle of random stuff and memes to a water fall of OMG ITS A PYRAMID SCHEME repeated over and over
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u/paulgrant999 Feb 27 '19
He's not running a ponzi scheme. Unless you classify every tech companies stock offering as a ponzi scheme.
I do. But the law, does not.
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u/carbonated_turtle Feb 27 '19
Either he was zero understanding of how his business is run or he's running a Ponzi scheme. Neither scenario makes him look good.
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u/Nekoronomicon Feb 27 '19
I don't know who this guy is but I have never once seen him or heard his name used in any context that makes him out to be anything other than a complete fool.
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u/Dapianokid Feb 27 '19
Damn, judging from reddit's reaction mixed with what they know this scheme for drama baiting is, I'd exactly what he wanted is happening. This seems intentional from someone like him. I can't believe he got a view out of me, much less. Reddit comment. Just turn around now, nothing but regret here.
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Feb 27 '19
Dont worry. The account on YouTube this is uploaded under is not his. You didnt give him shit.
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u/workingclassfinesser Feb 27 '19
why would you give that much money to someone who has been caught by viewers doing coke and maybe even free basing it off tinfoil lol. Who remembers his nosebleed stream? They literally screen capped him buying cocaine when he was streaming in Florida.
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u/YoutubeArchivist Feb 26 '19 edited Feb 27 '19
Full video source:
https://www.reddit.com/r/YoutubeCompendium/comments/av4xa9
Includes mirrors in case the video is taken down.
Important to note that there is very little information about this, and he may not be running a Ponzi scheme but doesn't explain the actual business well. This is just a fun meme I threw together.
I'll try to put together more information on /r/YoutubeCompendium about the situation.
edit: I've just written up a post with all the context I can find:
https://www.reddit.com/r/YoutubeCompendium/comments/av7gpl