Bitcoin Forum

I'm here to share warning to newbies on here that are desperate to make quick money on the internet ,many of you guys have no patience and whenever you see a chance alike you decide to take the shot well I don't know if you've all heard about HYIP? It means High Yield Investment Platform ,there are thousands of these platforms around on the internet and guess what they want to double your cryptos for you ,either in btc or ETH ,they tell you to deposit some amount and the platform will double your coins for you just in few weeks ,they actually works ,from my past experience but when you started getting paid you will start thinking its real ,take my advice and safe yourself some disappointment ,its a PYRAMID SCHEME ,all they do is taking from one to feed the other until they've had enough to shut down the platform and thats it ,a word is enough for the wise
I) Any platform that wants to double money or coins are scam don't even bother wasting time on such
ii) don't be greedy,be willing to work hard and earn from your hardworking alone ,don't rely on wonders cos there is no such things
YOU CAN LEARN MORE FROM > beginners & help thread < I'm sure there are many tutors on here that can guide you on how to earn especially on this forum .

Cut down on the words "they want to" and keep it like they show you that they can double your money and ask for deposits with 3 - 12% and even more as repayments daily. But HYIPs are like first come first served types to my experience and all of them try to run their HYIP business at least a bit before they run away just as you said. I won't say anything about how to earn here or anywhere as it's a struggle a newbie should face themselves for their own good because learning from ourselves makes us better compared to listening to someone's opinion when it comes to money. But yeah, I can ask and urge these newbies not to put their hard earned money (through any source) into these HYIPs just to make some quick and easy bucks. Money has now become an extreme need of almost every other person on Mother Earth which is why some extra superior efforts and highly qualified efficiency is needed to make as much money as possible and we can't to explain it to anyone what to be done because those who're greedy will definitely go for these scams even after such warnings and those who understand the importance of money will only put it where their mouth is.

Well as what the famous line in every advice for newbies specially in investing fields is “If it’s Good to be True”for sure this is scams.and a simple logic How come a strangers will give you a chance to make Double your money?lol only stupid will believe that  ;D

But for OP that’s always been a good move to show concern for others and or that Thank you,reminding the forum from time to time regarding those scammers can help enlighten everyone to safe keep  always as even older members can be mislead sometimes 

I am on the fence here. It's not automatically a scam. It still depends on the model on how your investment can be doubled and also the duration. If it sounded like guaranteed double your money in no time and then yeah it's a scam.

  The only link cryptocurrency has to do with that link is that they take payments in ethereum and bitcoin but the truth is that that's more of ponzi schemes investment and newbies should be able to spot a ponzi scheme.
My major advice is that avoid investing your funds in schemes that claims to double your funds with out giving you a clear statistics or analysis on how this happens(doubling funds should not me a magical process) investment schemes like this more often than not closes down and preys on the late comers so to be on the safe side avoid ponzi scheme

Avoid investing in anything where the main focus is on the profit you will make!
Guaranteed, 100% safe, bulletproof method that will make you rich... flashing images and pictures of cars, babes and $$!

If all they talk about is the money you will earn without mentioning how they are planning to earn you that money or the technical expertise behind it, don't trust them. 

Yes, it is.

There is no guaranteed, risk free way to double your money. If there was, the person who discovered the method could be a billionaire within days, even with a starting amount of only $10. There would be no reason for them to be asking other people to give them their money. The only reason they need your money is to pay out other "investors" so they can keep up the facade and lure in ever increasing deposits. As soon as they reach their desired goal, they cash out and disappear with your money.

All bitcoin doublers, or anything else with a stupidly highly return on investment, is a scam.

Besides these obvious scams you should:

- Avoid projects that claim to make you any profit on their website or whitepaper.
- Avoid anyone claiming to give you profit just for senting them your money/crypto.
- Avoid any advertisement or online comment talking about giveaways/airdrops if they ask you to pay anything at all.
- Also don't do KYC for these reasons. Your documents will most likely be sold in the black market.

Basically don't trust anyone online as scammers are everywhere looking for easy pray.

I typically stop reading things seriously when I see a guaranteed rate of return on any crypto-based service, as such services are typically Ponzi schemes or scams as others have said above. I actually used to be involved in HYIPs in the earliest days of my being on this forum, and though there were indeed instances where I was able to double my money, more often than not I just got scammed. A lot of cloudmining sites are also Ponzi schemes or outright scams as well. There are a few exceptions like Hashnest, which is connected to Bitmain, though you can still lose money there.

There's risk in any investment, even in trading which is what I mainly do nowadays. There are ways to manage your risk in trading and other investments so you maximize profit and minimize losses, but losses still do occur occasionally (everyone loses eventually). You just need to be prepared to cut those losses to a minimum when they do occur.

"desperate making a quick money" i think there's only 2 way to earn a quick money, first is entering a pumped coins and next is the one we talking about, HYIP. If we compare it today with back on 2017 and below, HYIP is really not so big than before. But yeah, the main target of HYIP sites are the people who still have a small experience on making money online included cryptocurrency. So, thats good if you post this to make such a reminder for them

I do not think the problem is greed but the problem is ignorance and trust.
This problem that I was addressing when I was a beginner that I trusted everyone.
Also, lack of knowledge makes everyone try to capture their chances of getting some profits.

So that's a lesson learn. You should learn or gather more information and don't just accept an offer that they will double your eth or btc in just a few weeks. If I were you before you experienced that, you should not join any offer or a project without doing a research about what your going to get involved.

Lets me make a simple conclusion, Don't invest/join to a PONZI SCHEME. If you find some project or website offering a service about profit without know "Where the company get & share the amount of money investment" avoid that service, Ponzi always everywhere in cryptocurrency or not they targeting a person with don't have knowledge about investing because was really easy.

Great advice, but now unfortunately we can't change situation with these warnings. Usually people aren't listening until thry lose money. Only then they learn from their own mistakes.
And another problem that new people join crypto world every day and we can't reach all of them with these warnings. Many of them aren't educated about these scams, some of them are bit naive and become blinded by these unbeleavable returns advertised on ponzi or HYIP website.
Personally, during my early days in crypto I had invested into several HYIP's, despite that I was aware about all these risks. But after I lost these investments I decided to stop feeding scammers.

Anything which asks for KYC but has an anonymous team should be a massive red flag.

Anything that 'guarantees' a certain price increase is probably a scam, or has an over optimisitc team at best.

Anything with the word 'bitconnect' in it is also probably a scam ;)

Advice to all newbies - avoid pages and projects with calculator, that predicts your profit or incove. They are all fake. No one can predict most of the scenarious in crypto. Specially long term.

I would argue that asking for KYC is a red flag in and of itself, regardless of whether the team is anonymous. There are few legitimate reasons to require KYC, and these are mostly for exchanges or other platforms which are accepting fiat deposits or withdrawals, so they can comply with anti money laundering requirements. There are very few times when an ICO, altcoin, bounty campaign, or similar really require KYC. The vast majority of times your details are simply being sold to the highest bidder, which could be anything from advertisers to identity thiefs.

I think that one of the problems for newbies is that they think that everyone else makes a lot of profit from trading cryptocurrency, so when they see websites that offers a daily or weekly profit they think that this is a legit way to make money in crypto.

The best a newbie can do is to secure his cryptos on a good wallet where he alone holds the private keys.

Indeed and damn I hate such a promise/guarantee scammers

https://www.cryptohuis.net/
^
This shop provided 10% guarantee profit
when he Said that I laughed with him!!!
I went to the shop, out of curiousity (my home town....)

But F*** what a scam such a place, promise 10% each month by daytrading crypto only during CET day hours
All positions closed during night ...

What a JOKE, stay safe AVOID the scams....

Oh gosh, so all these kind of schemes exist in crypto too. I thought they were mainly in the real world where this platform comes up and promises its members of giving them 100% return in 24 hours or so. Damn, I was deceived big time by some of these about 2 years ago. I have learnt mine lessons anyway but I think it's way risky to run such schemes in crypto and too dumb for anybody to fall for such scam.

Imagine, what if bitcoin price reduces during your payout time ;D. This is actually a cheap game and I bet anybody would fall for that or is it because I have been in such situation before?

One more thing @OP, I learnt from a previous post https://bitcointalk.org/index.php?topic=5150638.msg51346909#msg51346909 that we should not be capitalizing out Subject of threads in bold and also capitalize them all throughout. So maybe you might want to check that.
A happy Eid day to all those who celebrate it

Not all scams has a "double your money" method when it comes to fooling people. Some payment schemes can go from 1% GUARANTEED daily gains to GUARANTEED 50% gains per 30 days. I'm here to tell you that any kind of investment offering you a fixed payment or a guaranteed one is a fake investment, real investments cannot guarantee fixed gains as no real business can output the same result everyday, just look at how mutual funds work they don't guarantee anything for their clients.

Before Bitcoin was born, I participated in many ways to make money like PTC (Paid to click), PTU (Paid to upload) ... and HIYP. At that time, online payment services only had a few services like Paypal, PM, etc.

In all these forms, I think everyone knows HIYP is 100% fraud, but I still participate because HIYP carries a very high risk but it brings great profit in a short time.

Until now, HIYP is no longer as popular as it used to be, but it does not mean it disappears. Its forms will be more sophisticated.
With my experience, I don't want people to be adventurous, you can make a lot of money, but I'm sure it's just little money. You will realize that the money you lose will bigger than money you earn.

Sad, but it is indeed right and had been experiencing to join in a scam organization. I have been invested locally to a project where it advertises for buying, waiting and earn. It guarantee to give 80% profit and there are many proofs and other attest to it that they had receive their payout. For me, it was really shady of course so I risked huge money for one knowing that I could payout to it since it is still new. However, the outcome was different. The investment scheme scam was reported to authority which leads to losing all the investments of its users and the CEO had been nowhere to be found.