What is a Ponzi or HYIP?
A Ponzi is any scheme which pays interest to "Investors" from Bitcoin coming in from new Investors. A HYIP (high yield investment program) is just a Ponzi.
All Ponzi/Hyips will fail The later Investors will lose everything when the scheme folds and leaves with the Bitcoin. Most HYIPS just steal it immediately - Due diligence is your own responsibility.
There are plenty of good sites out there where your Bitcoin and your work are safe. You just need to do your homework, including checking here. If it isn't in our Badlist, email us, and we'll check it and get back to you.
Here’s the psychology behind the typical ponzi’s & HYIP's run by the “professional” scammers. They know most people will do this.
You deposit a small amount, you want to be cautious, you can’t quite figure out how they do this – but they sometimes double it (or pay promised interest) and pay you. Many pay a few
You think – Ah that’s great, so you either redeposit the entire amount, or just your profit. You get that back and think wow, it works, so you deposit a much larger amount and in the worst case, even get your friends involved in this wonderful money making scheme.
Then one day it doesn’t get returned – there is some issue with your account, or your withdrawal is stuck or something similar, so you keep emailing the site and gradually it dawns on you that you’ve been scammed.
Even if you just put your initial profit back in, the conman hasn’t lost anything – and the depositors who think they are ‘playing’ the ponzi do try that, and most of them don’t get it back either.
Some people empty their savings into these scams, and they are the ones the scammers are really after. Once they get that big depositor, they move on and create a new ponzi, just leaving the old one alive for a while to mop up any new ‘mugs’ Some even return after a 3 or 6 month absence to catch a fresh load of hits, they will never run out of victims. It’s what they do, and they are expert at it.
Site with little information on the Internet, not this on the monitor and forums WHAT becomes more suspicious still, lucky I found this site in Badlist and clear confirmed that this site is a scam.
