You’ll find many posts in the internet where people are angry and complain about those Bitcoin HYIP scams because they ran away with their money. But honestly, those guys simply hadn’t understood in advance what high yield investment programs are. They are simply a game – yes, a ponzi scheme, a scam, you can call them as you want – but they are basically games which run for an individual unknown lifetime. This runtime depends on how many people jump on the train, meaning how many people make new deposits every day.
OSGold was founded as an e-gold imitator in 2001 by David Reed and folded in 2002. According to a lawsuit filed in U.S. District Court in early 2005, the operators of OSGold may have made off with US$250 million. CNet reported that "at the height of its popularity, the OSGold currency boasted more than 60,000 accounts created by people drawn to promises of 'high yield' investments that would provide guaranteed monthly returns of 30 percent to 45 percent."
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