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Today I was listening to my junior sibling and a friend of his having a conversation about a Ponzi Scheme that they both have invested in and how the friend to my bro has received his profit after the given number of days you need to wait for your profit to mature for withdrawal, and from the conversation that of my bro is yet to mature for withdrawal.

As the conversation was still lingering between their two I had to get closer and joined in the discussion acted like one with an interest to also invest too, from which I started asking them questions about the platform, the name, how it works and from what channel do they get informations about the platform.

From what they  said::
* The platform name -  KDB
* How it works - that after investing you have to wait for 5 working days for your investment to mature and yield profit before you can start making withdrawal, and for each person you bring in to register through your link you have a 10% interest of whatever amount they invested.
* Channel of information - telegram group channel.

After gathering all those informations from them I wanted to explain to them how what they are into is called a Ponzi Scheme and how it can crash at an instant and they lose their money and that it's a syndicate of scammers that's hiding behind the platform waiting for the right time to elope. I felt like talking to them about bitcoin and how's of guaranteed security than any of those schemes or cryptocurrency.  But when I looked at their countenance about this socalled scheme I was moved to hold my peace and let them learn from the hard way, as it will be more understood by them if they learn that way maybe they will give audience and interest to bitcoin when I'll have to introduce it to them after they must have been stinge by the KDB Ponzi Scheme. Because from their expressions there's nothing I will say at that time negative of the scheme that will sound truthful or make sense and I wasn't ready for argument neither.

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

IMHO, you did the right thing. Because if they are into that platform so much that they are trusting it blindly and do not even want to listen to you about something that could teach them something besides the fact that there will be money in it too, Then they are just after money, and such schemes always scam people. In my country, many scams have been committed in the last two years, and billions of dollars have been stolen. You could use past events in which such platforms tried to scam people and looted a hell of a lot of money.

But according to your scenario, I think they will not trust you; instead, they will start to doubt you and BTC if you lead them to BTC.

I think they have to learn the lesson the hard way. And I have also faced many cases like these, but fortunately, in ponzi schemes, these platforms give rewards to early users, and when they build a fortune, they leave and fly away with all the money gathered, and in that process, the last batch who deposited money on the platform faces a loss. As people near me invested in such ponzi schemes, they were able to make decent profits, but the ones they referred to these platforms lost their assets. The bad side is that such people will never accept the fact that they are wrong. And due to them other have lost money.

The moment I saw the part that started that they got the site’s details from a telegram channel I just knew that it was going to be a scam sooner than later.

In scams like this it’s very difficult to get those that haven’t been scammed to leave it because they think they have proof that the site is legit since someone they know has been cashing out from it, without them realising that the site is only trying to make them believe that it indeed it is legit and as long as they keep paying some sets (most especially those that invested early) they’ll keep getting newbie (like your siblings) to register and when they feel they have accumulated enough money they’ll disappear into thin air.

It’s best you advise them to not refer others to the site ( although that’s the only way to earn significant amount from those sites) because you never can tell when the site will crash and if it happens that those he referred didn’t get to make their money back before it crashed he’ll be the one to pay them back i.e if he knows them.

Ponzi schemes are like that where the investors will earn profit for the first time and maybe second and third profits before they scam their investors. Well, there might be some ponzi scheme that doesn't pay their investors when they invested in the ponzi project. It's better to stay away from it and as you have said, It easy to crash not because of the project failing but because of the one who runs it which is to scam people with their so called project.

A lot of people don't want to admit that their truth is wrong, it's difficult for them because they are always the right person.

The best decision is to leave them alone and let them learn a painful lesson. But in general, after such a lesson, instead of thinking its right or wrong, people prefer to deny it completely.

There is a saying I like very much; free cheese is only in a mousetrap. I say this to everyone who tries to make money from air like ponzi schemes, and if they listen they will lucky and they will rid of it from less loss; but if they will won't listen they will learn in a painful lesson.

At times it is good to let people learn from the hard way, but when it comes to speaking the truth, it is one thing we should never shy away from, not minding whether the people we are telling it to will accept it or not, because by keeping silence, we put them at danger of losing far more than what they would have lost if only someone told them the truth earlier on, even though they may be doubting, but might likely trade with caution.
So for me, I will advise you to go back to your young bro, and let him know that what is investing his money in, may likely crash someday, and as such should invest an amount he can always afford to lose so that if it crashes one day, he wouldn't get affected that much.

This is my ernest fear at the moment, it's not about my bro but those he might introduce to the scheme and it later crash and they start coming after him it would direct or indirectly involved me since we're related. And like you did said, it's hard to convince those that haven't been scammed about these schemes, and to crown it all they are witnessing other people cash out profit at the moment. The thought that I can be called to answer for him if anyone he brings loses their money in the process and he's no where to be found, is what am stomaching right now.

"I think you did right here, as sometimes people really do not listen and become stubborn. As they get caught up in what others are saying. You must ask them on what basis they are investing in this project, and the only answer you will get from them is that they have seen some other friend or friend of a friend making huge amounts of profit out of this platform, and he must have said, It is real, and see, I even have withdrawn the money out of the platform.

But we all know that in reality, such platforms only gave money at the start, and when the amount became huge enough to scam people or be worth scamming them, they ran away with all the money.

You have completed your responsibility by teaching them, and you must do all you can, but if they resist, then leave them on their own, and they will learn the lesson the hard way at last."

Talking to people who are moved by what they hear from others is very difficult because greed will push them to achieve the same thing others have achieved, which always leads to being scammed.

Most of these Ponzi schemes have been introduced to them through Telegram channels and sometimes through the influencers they follow on social media, and most of the time these influencers are just doing the ads for their own selfish interests.

Ponzi schemes always look attractive because the scammers have done so much research about the previous Ponzi schemes that succeeded that they will further develop their own in a convincing way to make people think that it is legit. We need to understand that no one has free money to give out; "no work, no gain".

after you told your brother everything, and he didn't listen. forget it, let him find his own learning. but don't let that happen to you or your other relatives.
you do not need to be responsible for your brother's actions because you have already given a warning. such a scheme would not last too long. when they get enough money from people who join, everything will disappear very quickly.
just wait whether your brother succeeds in withdrawing profits or not.

At this point, it best you allow them to experience it themselves. As it's always said that experience is the best teacher. They know that the scheme is a quick money making scheme because money doesn't come that cheap. Even if you tell them about about bitcoin, at the rate  at which they are currently operating, they will just take whatever your telling them under advisement.

It is a wrong idea to arrange a training for a younger brother, which is associated with learning from your own mistakes, while you well understand the difference between a ponzi scheme and investing in bitcoin. Obviously, you presented your knowledge to them incorrectly, since they did not want to listen to your words.

Saying the user haven’t got to be responsible for his brothers action is an ignorance to the duty you owe a sibling. I don’t know but somewhere within our DNA or subconscious, we do hope our family members, relatives or friends that we do do care about don’t walk down the same road we did once or are way too familiar with to lead just no where.

I do understand that, when you try to teach a younger person or even an old person of something they feel they know too well about, especially one that has got some evidence to it, they build a wall about what they wish or hope to believe is true. The approach to it, create some relativism with it from what has been before. Let them get the clear picture and where it always ends, should they hope continue the part and you caution them enough to instill in them some level of curiosity and skepticism so they don’t get to invest big.
When it goes down, then they would understand and learn to trust in the things you know and experience have got to teach them.

You have done your best, it’s like the proverb “ you can take a horse to the river but you can’t force it to drink water”. Some people are meant to learn the hard way. It’s almost impossible to convince someone who has money invested in a ponzi or a project that they are being scammed. They will automatically go into defense mode, and counter anything and everything you say about the “investment”. Just let them be, they will soon learn their lesson. I hope they don’t lose a lot of money to this ponzi.

You should have gained their attention first,for next time that you will like to introduce them to bitcoin by telling them the truth that it is a ponzi project,and encourage them to cash out their capital and not to invest with it anymore but only the profit.

 This is left for them to take it or leave it. If it happens that they didn't listen to your advice,when the get scam,they will remember that you told them and they will respect you for knowing what they don't know. This might help you to gain their attention to listen to you when you come around next time to tell them about bitcoin, or better still accept to invest in bitcoin. Be your brother's keeper.  :D

 Ponzi schemes often appear promising and look to yield enough profits when you engage in them and this is what lures most people. Personally, one easy way to detect that it's a scam is how they never tell you the downsides, always putting the positives in front. You did the right thing by leaving them be because interfering in the situation will look like you're being a killjoy or you are not profit oriented.
Most of these Ponzi schemes thrive on telegram channels and I still get amazed how people fall so foolishly for those whack tricks.
 But if I had my way as the op, I'd at least tell them the danger of what they're doing so that even if they don't listen, at least I had a clear conscience and so that if it doesn't pan out well, I could either gloat or it could be a good platform for preaching Bitcoin to them. At least I'd be transparent with them on the ups and downs of investing in Bitcoin, which is something these Ponzi schemes lack.

As long as you've been vocal to them and have expressed your thoughts that they should be careful on what they've discovered then you shouldn't be feel any guilt anymore.

Sometimes people have to learn the harshes and most expensive way when they've been warned and yet, they have never listened to the people that were just concerned about them.

I've got personal experiences the same as yours and warn friends of mine when they seem to be optimistic about it. When I step in and tells them that they have to avoid these easy money schemes, it's like I'm kicked out of the friendship but that's fine and it doesn't matter to me.

We all know why these ponzi schemes run successfully because our greed overpoweres our mind and ability to think that we choose these short paths to be successful but when we realize about it it's too late so we should avoid engaging in these and be satisfied in small amounts only.

I have, and it wasn't a great experience because when I talk to people about Bitcoin and crypto, their biggest question has always been "How quick can I cashout?" – For people like your folks that have experienced the fast-paced nature of ponzi schemes where there are days you can gey guaranteed payment as long as the ponzi scheme platform hasn't rugged yet.

Most times, you just have to make your suggestions and your advices and hope that they take it because at the end of the day, everyone has to make decisions for themselves. To ponzi or not to ponzi.

Even if you firmly believe that you can't change their mind, you still should warn them, so that in the future they would be more likely to listen to your advice. If you stay silent now and let them do the mistake, you won't be able to say them "I told you so" later. Also, you never know if they will listen to your arguments or not until you try, and trying to persuade them costs you nothing, so why not do it? I fail to see any downsides.

You can just tell them the risk involved in engaging with those Ponzi scheme companies.  It is up to them to listen to your advice which I hope they do.  If they do not then at least you tried your best to warn them.

I also come in contact with people who invest in Ponzi scheme.  Since they had already invested, I just told them to wait for their account to mature and withdraw their fund ASAP since I told them that the system is doomed to collapse at one point in time.  They don't listen to to me but instead from $1000 investment they add another $40k, yes they get greedy when they receive their first payment.  After a year, I asked if they were able to get their money and profit, and they told me they were into it and filing a case to get their funds.  I did not comment anymore to avoid adding salt to the injury.

You did it right and there's nothing wrong, at least you tried to warn and now it's up to them to listen or not.
At least you've tried to help them to understand that Ponzi schemes are unsustainable by nature.  Eventually, when there aren't enough new investors to pay returns to earlier participants, the scheme collapses, causing the majority of investors to lose their money.

That's very common here in my country, but now people learned not to invest in a Ponzi scheme investment and there's no easy way of making a profit on investment.  That's a pyramiding Ponzi Scheme.

you've told him it could make all their money disappear. the first withdrawal may work to convince them to deposit a larger amount. if that has happened, then they may not be able to make any withdrawals.
what you did was correct by providing an explanation regarding the risks of this unauthorized method. if they don't heed your advice, then forget them. there will be no benefit for you if you put too much pressure on those who don't believe in you.

A scheme like that isn't the same as cloud mining which we usually find as advertisements on social media. for some people who already understand how such scammers cheat, it will not be easy for us to deposit money for small profits. but those beginners who have high curiosity will be very interested in short profits even when they don't do anything.

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

Regarding promoting BTC, usually promoting something unsolicited gives a bad impression, I would refrain from doing that.

Hearing what you said above, that's the pattern and what you convey will be rejected because they haven't felt the loss of what is being invested in the token/token and most people are easily tempted by investments that promise high returns or profit sharing, without investigating first the credibility and legality of the associated investment platform. who is sure to convey the truth and always remind and beware of fooled investments, understand about the ponzi scheme especially those you care about and those in your immediate environment.

Most times you don't have to remain silent for them to fall into prey before helping them out, it could be you are their saviour and you can also help to avert any danger that is to come upon them but due to you not opening your mouth they may lose more money, whereby you are wanting them to learn in a very had way.
I know how many people I have saved from ponzi scheme when they consulted me to buy an idea about the platform, immediately they explain to me about how the platform works, just like what they did explained to you then I will tell not to invest because that platform may not last longer.

The only thing I will tell them will that make them leave such ponzi scheme is that "If the platform last for 6 months or 2 years come tell me I will invest" and guess what?
Just 2 months they will ran to me saying the platform is fake, but when they consulted  me they were very careful with their funds so they removed their money earlier before crashing. At this point they started asking how about your platform "That place you normally tell us".

Most of the time, people make mistakes first before realizing that they are wrong. Very often to happen that some people have fallen into investment scams because they never listen to other's advice. Very unfortunate, but never let it happen to your siblings since you already have an idea about the Ponzi scam scheme which is likely they are into now. They might argue with you OP but must have to be firm in your position and convince them that they are wrong and help them understand how real crypto investment works.

yes, I understand that. however, because are still relatives sometimes we have the feeling not to let relatives get into trouble. but sometimes there is enough resistance that occurs when a brother has seen his partner make a successful withdrawal. and that means that anything we say or warn about will not be taken into account.
his job of giving advice has been done and if his brother doesn't accept it, then forget it. We don't know the end, but we know it's risky for anyone. and those experienced in this matter would of course avoid it.


it is possible that when his brother realizes that his investment will fail and cannot make withdrawals, his brother will seek Op to provide a more in-depth explanation. and that is what will make his brother aware of the risks he faces.

I don't think you actually did the right thing by not warning them of the dangers that lies ahead. You would agree with me that it's not everyone that's well enlightened about the ponzi schemes, some persons are easily swayed by quick money that they don't pause for a second to think or do diligence before taking any action. So you would have done your part by warning them and if they fail to heed to your warning then it's up to them to suffer the consequences.

I think it would have been an inappropriate time to educate them about Bitcoin, they might think you introducing Bitcoin to them is the main reason you want them to abandon ship. Just give them some time then you can enlighten them about Bitcoin but you really need to give them heads up about the ponzi scheme.

Kinda reminds me of those people having photoshopped of successful cash out and even those locals in here that seemingly had printed money which should be put in jail due to obvious printing of fake money. It isn't really hard to fake out digital information these days. Even scammers being scambaited by popular Youtubers knew the usual HTML edits in the chrome devtools.

I can recall some crypto casinos back then just stopped running their website and abandoned their Discord server. Bruh moment literally.

I don't think they will listen to your idea, there is something you are not getting and I will make you understand.

1. It is possible that they know it's a scam strategy or Ponzi scheme, so you telling them is like getting on their nerves.

2. They will surely prefer this over Bitcoin invest, why? Most people likes and prefer something that turns into money in a very short period of time.

3. It's not about the interest they will make or they are making, the question is how the money is generating more money, how is the money been put to work? This is what I always ask those that invest in such Ponzi and they mostly walk away because they don't have an answer.

It's clear and easy to know if something is scam, it's not easy to make money, yet a platform request you to make deposit and double your money in a week or two, no, nothing works in such way, unfortunately, many understand and still choose to keep doing it.

And another reason they won’t listen to him is that most of these people investing in all these ponzi schemes are aware of bitcoin investment, but because of the time it will take before they get their money back with profit and the risk involved in bitcoin investment, they can’t do it. They also feel too lazy to sit down and learn bitcoin investment, which is why they see this thing as an easy way to get money since they won’t learn it. They will just get convinced that in less than an hour they will start making money, forgetting that they can disappear with their funds at any moment.

 
All this is due to greed, and these types of people are not ready to work and get money, which is why they easily get scammed. If not, it is very unfortunate and surprising when someone will SM request that you deposit money on their platform, and they will double the money for you in a very short period of time. They need to understand that being greedy will never be in their favor in any way, and you can’t get money for free without someone benefiting from you.

I have come across many people who have been caught up in ponzi schemes in the past - often new things emerge especially when one of them manages to benefit from the scheme.

Of course I'm trying to change their mindset about investing – but it's not as easy as I imagined. They are too selfish to accept the fact that the investment they got was a ponzi scheme – obviously out of greed and the lure of big money. I'm not forcing them to believe – I'm just talking about something and comparing it to other similar cases in the past. It's not easy to change their mindset - but we are not responsible for their investment decisions.

I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.

Don't expect some other people to understand you immediately that you are just trying to warn them about those ponzi schemes which they are participating since they might just ignore you and say something negative about the warning you said. Its normal for people to a t according to their greed so maybe its best to let go those people keep participating even if you give proper precaution about those ponzi and let them learn on hard way since experience is really a best teacher for then to learn about such thing.

@ultrloa you are in the direct as me on this, at least them learn and accept it the hard way so that I can be vindicated of my cautioning to them by whatever happens to their loss. Because there's a way I might want to go about it and they will be thinking that am jealous of their investment and the profits they are to make from it. So let the end justifies everything.

Either way, yes it is.
People might hold you accountable in opposite for keeping them away from that particular investment. It won't be your fault anymore regardless so you're good.

It's just like doing trading vs virtual trading. You would never feel the losses if it isn't really your money involved. I encountered close-minded people before, but not really in crypto, and it is so painful to work with them.

A bad impression will only occur if they invest incorrectly, do it the wrong way. promoting Bitcoin as the most sound investment in the crypto space even if unsolicited is the most correct way. We just need to give a warning about how the risk will be, so they can be careful and not cross the line we have warned them about. Now many investment ponzi schemes use Bitcoin as a tool to attract new users, we know Bitcoin is not the main ponzi center but as a tool used. Bitcoin is still Bitcoin, ponzi schemes are stowaways that have a negative effect on new users.

You failed them, I would say. You failed them in your capacity as a big brother and as someone who knew better. You should've warned them first to clear your right to do good and your conscience. At least, trying to talk them out of it and telling them about Bitcoin would remove any sense of guilt from your mind in case they eventually get scammed (that's usually the end result of such investment). Everyone doesn't have to learn the hard way, especially if they had those to educate them around.

Well, for me, if I see people going the wrong way and am sure that the step they are taking might likely leave them with regrets, I usually inform them beforehand. Although it depends on the situation, it's good to tell people the truth, even if they don't believe you at the time. If they finally test the scheme and get a bad result, they will realise that you warned them in the beginning. You are right for not being convinced to join them in investing in those Ponzi schemes, but personally, in my opinion, you did not do the right thing by not telling them what they were venturing into. There have been a lot of failed ponzi schemes in my country, so when any new ones arise, only a few people fall victim. Any platform that promises a huge percentage of return on investment is probably a scam or ponzi scheme because they don't have a proper mechanism that can enable them to maintain the profit they are giving investors for a very long time. That's why they will run with investors funds after they have paid only a few people and might win the trust of many people who will invest last and will have their funds lost.

So you will just see them losing their money at a time when it could have been avoided. And all this in order to then poke their noses and point out that they should have listened to your advice.

Actually, what amount are we talking about?

Some of them might change their mindset if you have the right method of explanation - but try to stay away if you can't change it after one or two tries. Let them gain experience regardless of good or bad - this will teach them to accept other people's opinions or hear them.

In my previous post – I already said that it's difficult to change other people's mindsets if it's too late, especially if they've made a profit even though they're actually struggling with a ponzi scheme. Ignore them - let them learn for themselves.

Ponzi schemes are not new to the world, and a lot of people know about them, but due to their eagerness to look for quick money, they are always blind and become deaf to hearing the truth. It is not until they get scammed that their eyes and ears will open.
 
It is true that learning from mistakes is the best process of learning, but I will advise you to just be looking at them until they make the mistake before you start teaching them about Bitcoin and cryptocurrency in general. It may be a wise idea to start them now because if some of them are opportune to withdraw their money, they should go back again,and I believe some of them will give you the least listening ears.

As an elder, it's your responsibility to understand them and to protect them and their money from the Ponzi scheme. However, sometimes words are worthless to the person who listens to others or sees a person achieve the same thing for what he looking for. In that case, leave them for a better lesson that they will never forget in their life. I myself got caught in this type of scheme and I lost my money and also they gave me the address of their office when I went there I saw the building was under construction and from that I took a better lesson. So sometimes practicality gives you a million dollars lesson than understanding by someone . So last, I would say you did the right thing if they lost their money they would never believe in that type of scheme

Just be like the advisor but never force them to put the responsibility into you. People tend to be spoonfed so much that they can't learn or even experience mistakes. Ponzi schemes are quite different though since they would still earn at the end of the day.....just not the ethical way though.

It's not just the high APY, but also the shadiness of the structure of the project like no professionalism or even team background. People might start somewhere else to gain fame, but at least give it some effort to show your credibility.

First of all... Lemme start with the word, elope. If I'm correct, then elope means running away secretly with a partner - and the sole aim is getting married to themselves....so what's really the point you made when you said this,?!.
again, it's not the best option you would have chosen - I believe information is key; anyone can do alot positively or otherwise with it.. do you then allow Thier faith to be soiled in those scammy mindsets?? And then you call it "making them learn the hard way?" Don't you know it's almost impossible to make them believe you whenever you're set to tell them the truth?? ...

Sandra 🧑‍🦰

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

Honestly, your decision is the right plan.
Firstly, this person is your brother and I believe you know him more than us.
Secondly, there are some people that won't listen to you in this type of situation because they believe they are making the right decision and the best way to get their attention is after they have made the mistake.

Yes, I have been in contact with people who invested in the Ponzi scheme and they don't always listen to advice given to them because the cool easy reward of the Ponzi scheme always blinds them from the fact until they lose their investment.

If advising them won't help, they are not going to listen to anything that he's going to say. They're still in the sensation and belief that they're doing the right thing and only a snap of a finger is what they need to experience for them to learn. He doesn't want them to experience being scammed and learning the hard way but if that's what it takes for them to understand his point and what he wants to make them understand, even he don't want to has to happen.

I get it you are implicitly saying I should tactically play the big brother role not to allow him fell the burns from the fire directly. If you check through my op you would read where I said to them that what they've invested their money in is a Ponzi scheme and could land them into loss eventually, buy that being said I didn't see them picking interest in what I said to them. Maybe a part of me really didn't want to get into an argument with them  to avoid getting to have issues with a sibling, so expediently when he learns it the hard way he may come around all by himself.

You've done the right thing by explaining a Ponzi scheme. But it seems your junior siblings and a friend don't understand it well because they don't discuss more about what Ponzi is. If they are interested in knowing more, they will ask you so they can understand better. I was once in a position like yours but unfortunately, it turned into an unfinished debate and in the end, I gave in and left everything to them.

Most people will close their eyes and ears when someone tells the truth about something and trust what they have found and done. And that's normal to happen to junior siblings and a friend. But when things go bad and the sibling and friend experience a loss, then they start to realize it and maybe they will ask you.

So maybe you can accompany them and see what they do. Until they see what they will get and hopefully, they can really make a profit. If they make a profit, you can advise them to immediately leave the program and move on by investing only in Bitcoin.

Just when you started explaining the scheme I kinda knew about the ponzi scheme and got an idea where they would have got it from.
According to me, you did the right thing but then again it's your sibling and I wouldn't like if my sibling was to encounter a loss which I could have prevented.
So I would suggest you to tell your sibling about what is going to happen if he doesn't withdraw the money out quickly.
You can show him many such schemes which scammed previously, the most famous one - Bitconnect.
Don't tell him about bitcoin yet but at least prevent him from the scam that is about to happen.
Once he has got his money out or if he got scammed then wait for the right time to gain his trust and only then let him know about bitcoin.

The day I first came to know about this I thought it was a fraudulent cycle and a completely misguided means of manipulation and a scheme at best to deceive people.They make people gain trust in a few steps first they give profit then they motivate people more and when their goal is achieved they stop the whole system, but We are so stupid that we get greedy and look for ways to earn money very easily In fact, very greedy people who want to become big people very quickly and do not like to do any work and want to go on and on will be more involved and involved in these activities, and they are now victims of depression and danger.Have been and living in misery I have personally banned many after hearing that it is a complete False scam, but they keep telling me I am wrong they are right at the end of the day I am right they are the beep Their target was not educated people they were targeted people with little knowledge so that they can brainwash them and achieve their goals they created different platforms How did they earn the trust that people sold their everything and invested there money You tell them that it will be impossible to change their minds because they have been made so that no one can convince them that what they think is right.Because of these scams, it is natural that people will be afraid to invest money in the right place in the coming days, so action should be taken against them.
Although the question is not mine, but I would like to say that everyone's comments have been very nice.

There are many schemes these days that lure people with good returns and later run away with their money. The mechanism of these schemes is such that they give good returns to early adopters but later adopters lose all their money. The maximum profit in such a scheme is given on referring other people due to which everyone tries to attract their relatives and friends to invest in these Ponzi schemes. Thus, many people are brought into such schemes. In recent days, a scheme was running in the name of MTFE, which has escaped with a large capital of people. Many of my friends had invested in it and asked me to invest too, but since I don't believe in such schemes, I asked them to withdraw their investment as well , but they didn't believe me, because the mechanism of these schemes is such that people easily fall into their trap. They do not understand anyone's explanation, unless they have been deceived. You did a great job telling your brother and his friend about the Ponzi scheme. Most of the people in these matters are not ready to listen against these schemes because they only see profit.

You are in the right thing how to explain with your friend about ponzi scheme, without seeing mature of reward percentage in daily day but giving return 10% each person success joined trough link promotion have know that are ponzi scheme. Its not easily how to make people understand well beside upline of ponzi scheme more smartest when asking the other for joining their ponzi business.

But you done with your kindness how to make many people realize when participating in scheme business. There are not running for longer time and beside many scheme ponzi with few percent return in daily day I sure not get back our capital and on the middle way ponzi scheme will close their website and can't withdrawing yet again.

Yeah that's exactly how it works, I have heard of so many platforms like that, I was a victim of a similar platform called mmm, then i had no knowledge about Ponzi scheme, I was introduced by my friend to join but although I was skeptical about it but he convinced me so I believe him based on the fact that I have seen him withdraw a lot of funds from there so i decided to give it a try, so i invested and unfortunately in the next three days I was told that the system has crashed so I learnt my lesson from there.

Those Ponzi scheme normally use a strategies that draws people to them were as they pay you double of your investment after two or three days, so when someone collected two or three times they will go and inform others to come and invest so when the system accumulated enough funds they close it and runway. People should just be very careful and stay away from those Ponzi scheme.

If there is one thing it is that many people in the world today do need to learn from their mistake as no amount of advice that would be given to them can actually make them learn and that's why I believe some people are meant to be left for them to actually experience what you are trying to prevent them from falling into because thats the only possible way to actually get them to concur to your advice.

December is fast approaching, and scammers are already setting up their plans on how to use other people's money for the Christmas celebration, and this kind of ponzi is not different from one of them. And if you ask your cousins very well, they can't even point to a thing that the company is using their money for, which doubled the money, which in turn will now give them enough to pay back investors with profit.
 
One thing I usually ask people who I see rushing to Ponzi scheme money-doubling kind of things is, What do you think these people are going to use this money for? If they use it for trading, there is no guarantee that they will be profiting every time, and as such, investors money is likely to sink. If it's for betting, the chances are 50/50, so there is no good way for me to look at it and figure out a possibility of it working.
 
Since your people have already invested before you got the information, you could have really advised them and told them to pray they get their money back, and if they luckily get it back, then they should stop reinvesting. Sometimes it's good for us to educate people even when we think they will not listen. Trying won't cost us anything, but those people losing their money will cost them a lot. Learning the hard way is not for me.

You know, what I've noticed is that many siblings can be really stubborn. Even when you try to explain that you've been through a similar situation and have experience, they won't listen. Sometimes, they think that your time has passed, and they want to make their own decisions. Or maybe it's because their close friend keeps telling them that they're on the right path, and they're in it together. They believe that if something goes wrong, they'll both face the consequences.

after I read all the comments, it seems we all agree, that you have done the right thing. Ponzi schemes really thrive, in fact I once had a painful experience at Bitconnect, I lost a lot of money there, hopefully that will be the last time I deal with Ponzi schemes.

Not to mention that money is the toughest thing to get by, everyone will want to have it when we talk about it. Since they have seen their friends cash out and you are telling them this is a scam, telling them is the best course of action in this situation, even though I know they won't listen. I like the way you approach this problem because after they suffer the consequences, they won't know where else to turn but to come back to you for better advice, at which point you can introduce them to Bitcoin. They'll believe everything you say to them because of the error they made.

....then in the end, it kinda sucks that you might get the blame for the wrong advice even though the market is too unpredictable to just give advices that would guarantee that would work.

If you're friends with Elon Musk, it might be different though. A single investment for him in Bitcoin wouldn't matter that much for obvious reasons.

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This is why I tend to be silent sometimes when bringing friends into this kind of stuffs especially earning money.