From owner-freebsd-chat Mon Dec 31 10:59:40 2001 Delivered-To: freebsd-chat@freebsd.org Received: from swan.prod.itd.earthlink.net (swan.mail.pas.earthlink.net [207.217.120.123]) by hub.freebsd.org (Postfix) with ESMTP id B113A37B435 for ; Mon, 31 Dec 2001 10:59:38 -0800 (PST) Received: from pool0439.cvx21-bradley.dialup.earthlink.net ([209.179.193.184] helo=mindspring.com) by swan.prod.itd.earthlink.net with esmtp (Exim 3.33 #1) id 16L7el-0005Ke-00; Mon, 31 Dec 2001 10:59:32 -0800 Message-ID: <3C30B597.75EDE4FE@mindspring.com> Date: Mon, 31 Dec 2001 10:59:35 -0800 From: Terry Lambert X-Mailer: Mozilla 4.7 [en]C-CCK-MCD {Sony} (Win98; U) X-Accept-Language: en MIME-Version: 1.0 To: Brett Glass Cc: jgrosch@mooseriver.com, chat@FreeBSD.ORG Subject: Re: Confirm Your PayPal Membership References: <4.3.2.7.2.20011231011757.01d72730@localhost> <4.3.2.7.2.20011226145226.021974b0@localhost> <4.3.2.7.2.20011227092550.01c87ae0@localhost> <3C2FCA60.99829AA7@mindspring.com> <4.3.2.7.2.20011231011757.01d72730@localhost> <4.3.2.7.2.20011231014644.00e7af00@localhost> Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Sender: owner-freebsd-chat@FreeBSD.ORG Precedence: bulk List-ID: List-Archive: (Web Archive) List-Help: (List Instructions) List-Subscribe: List-Unsubscribe: X-Loop: FreeBSD.org Brett Glass wrote: > At 01:38 AM 12/31/2001, Josef Grosch wrote: > >So, you are basically saying the PayPal is a ponzi scheme? > > A Ponzi scheme is a bit different in that it claims to be > an investment. PayPal doesn't claim to give users a gain on > their money. But they likely have high overhead (due to the > costs of employee salaries, bandwidth, fraud, fees paid > to creit card companies, etc.) and could well spend > substantially more than they can make on float. My suspicion > is that their liabilities exceed their assets as a result on > this, and that they could therefore not sustain a run. You're wrong. They aren't allowed to touch the money, only the interest on the money, for which they do not give interest. Read their S-1 filings. -- Terry To Unsubscribe: send mail to majordomo@FreeBSD.org with "unsubscribe freebsd-chat" in the body of the message