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Author Topic: How can I spot Ponzi schemes?  (Read 2065 times)
alex_mercer
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February 17, 2017, 12:34:03 AM
 #21

I think the first thing is to know if the investment actually seeks to solve real world problem. In addition, it is necessary to know the team behind it.
If there are very reputable people, there are less chances that the business is not legit. But there is no hundred percent guarantee of this, it is necessary to know if they have the resources to make the business work.
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February 17, 2017, 02:08:36 AM
 #22

Pretty good number of things that you can see about a company that more or less help to confirm that they're a ponzi scheme and aren't really making any money.
1) Promises to pay a really high interest rate that are used to lure you into the scheme.
2) Very vague details about the company itself and the people inside of it. Most companies like to show what they're doing as a way to make people feel better and to show off their executives, Ponzi's typically don't.
3) Referral programs with a high reward for getting new people into the investment itself.

These are not all of the things that will confirm if something is a Ponzi but it sure as hell will probably weed out around 80 percent of them.



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February 17, 2017, 03:36:51 AM
 #23

The easiest way is to just look at what they offer. Most will offer things like, for example, 10-100% per day gains. If that were possible, you would turn $1 into over $100 trillion (multitudes higher than the total dollar amount in the WORLD) in under a year.


 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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February 17, 2017, 11:04:49 AM
 #24

Always read their TOS! This is one of the easiest ways. What to look for?
Promises of lifetime contracts
Unreal rates (300% in a year)
Statements like "we guarantee profit"
Promises of buying back your contracts at high rates
Very high referral bonuses


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February 17, 2017, 01:47:22 PM
 #25

Spotting Ponzi schemes, HYIP or any other investing scheme designed to scam you is pretty easy.
You just need to know where to look and how to read signs. Also bear in mind that there are some extra elaborate scam attempts.

Signs of standard Ponzi:

1. high guaranteed profits - it is impossible to generate stable high returns, basically anything higher than 20% is totally out of the question and should be avoided
2. Risk free investment - You need to remember that real investing is never 100% risk free, there is always a chance that you will lose the money
3. Zero information, or fake info about people behind the company - if you can't find address, phone number, real name of the CEO or staff, no social media profiles etc - it is a huge red flag.
4. Vague info about what this investment is really about - you need to know how this investment will generate money, you can't conjure money from thin air.

high guaranteed profit higher than 20% are possible depend on the amount of time they give, if they say stupid stuff like 100% in 24H, yes you have a point, but 20% in 1 year sound more reasonable to me
about information given i see that some hyip have evolved they tell you the info and maybe they are true, but still is a scam, so beaware

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February 17, 2017, 04:35:37 PM
 #26

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive.  Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

That is one of the most easy question. All you need to ask yourself, "Is it possible to have such profits in real what sites guarantee!!"
Here banks with over $100 billions are only able to promise 8-10% interest on FDs and RDs in a year. How can a site double one's bitcoin in 100 hours! Lol!  Cheesy
Cloud Minings and HYIPs sites are 99.999% scam. If you think, you could grow your bitcoin with them, better turn elsewhere.

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February 17, 2017, 06:33:29 PM
 #27

Aside from using common sense, what else would you need??  Huh

And, it's not just ponzi schemes you gotta watch out for, there's also those hyiP's, MLM's, and anything at all that promises absurd returns.

Just use your head and don't get lured with these 'instant', 'high', 'assured' gains. Those are nothing but bull.
If it's anything even remotely suspicious or unfeasible, then stay away.


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February 17, 2017, 11:25:39 PM
 #28

It is easy to spot a ponzi scheme, when a site offered a great ROI in a short time or the site promise a big stable profit daily or monthly then it is probably a ponzi site, to detect a ponzi site juts think logically, if the site can give you such a huge profit, then why the site still need your money? sometimes some of the user knows it is a ponzi site but still joined the site because of the greed

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February 18, 2017, 03:03:26 AM
 #29

My suggestion is to check the sites traffic if its getting lots of visits.
And also check it's ranking through it's alexa there are pretty good sites out there that you can search for this.

Do check for bad reviews cause sometimes people does some reviews in cloud mining sites.
Identify the domain or hosting of the site do some background check like domaon name, ip owner information and bunch of other stuff.

Actually you dont need to invest to those cloud mining sites cause you'll only lose profit instead gaining from it. You can earn a good amount of money here just by doing some signature campaign






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February 18, 2017, 09:31:16 AM
 #30

that is quite easy. If they offer you a interest about more than 10% a month without doing anything, they are truly ponzi scheme. However, please learn how to distinguish the casino invesetment and Ponzi. Moreover, in ponzi, they always offer interest and in some way, they promise never let you lose your money while you can lose you money in casino


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February 18, 2017, 05:00:54 PM
 #31

I am talking here about "cloud mining ponzies" only and I am listing below a few red flags you should NOT ignore for your own safety.

1. Offering free MH/s KH/s or GH/s usually 10,15 or 20 is the numbers to attract users.
2. You cannot withdraw if you don't deposit at least once in the site (this void the free hashes given)
3. Offering to pay you from 5 to 25% referral commission for every person you bring in under your name.
4. Not showing, pool data, mining hardware, (pictures can be faked ) not showing video of them filming during operation.
5. Having fictive numbers and address on a certain country which 99.99% of the cases is a line that transfers you somewhere else.
6. Claiming to have different data centers for mining in different continents and refusing anyone who wants to pay a visit to them.

If you follow this 6 red flags you will never be burned from cloud mining scams ever again.
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February 18, 2017, 05:03:04 PM
 #32

Spotting Ponzi schemes, HYIP or any other investing scheme designed to scam you is pretty easy.
You just need to know where to look and how to read signs. Also bear in mind that there are some extra elaborate scam attempts.

Signs of standard Ponzi:

1. high guaranteed profits - it is impossible to generate stable high returns, basically anything higher than 20% is totally out of the question and should be avoided
2. Risk free investment - You need to remember that real investing is never 100% risk free, there is always a chance that you will lose the money
3. Zero information, or fake info about people behind the company - if you can't find address, phone number, real name of the CEO or staff, no social media profiles etc - it is a huge red flag.
4. Vague info about what this investment is really about - you need to know how this investment will generate money, you can't conjure money from thin air.

high guaranteed profit higher than 20% are possible depend on the amount of time they give, if they say stupid stuff like 100% in 24H, yes you have a point, but 20% in 1 year sound more reasonable to me
about information given i see that some hyip have evolved they tell you the info and maybe they are true, but still is a scam, so beaware
Constant 20% guaranteed gains during the duration of the investment is very hard to achieve, but no impossible considering volatility of cryptos.
But we need to remember that company offering you investing option needs to earn as well.  For you to receive 20% their profits have to be much higher than that 20%.


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February 18, 2017, 05:29:58 PM
 #33

    First off, If the company is any way trying to sell you "Powers" or "Hash Rates" or "Ghz" or lineal feet of extension cords, I would be willing to bet the farm that they are a Ponzi.

    Now, having said that. I was very interested in these Ponzis in my BTC infancy and, much like yourself OP, started a thread about the ethics of investing into a suspected Ponzi just to snag a profit and get the hell out quicker than Nestle. I see nothing wrong with it as long as you don't risk more than you are comfortable losing and don't fall into the trap of watching your numbers grow on one of their "live" profit tickers that are constantly growing so that when you want to withdraw your Bitcoin, you may have second thoughts. If it is constantly on the rise, why pull it out now? Tomorrow it will be 25% larger. Well tomorrow it will probably be gone! Don't be drawn to the growing numbers, they are the siren song of your doom. I tried a few of these myself and I never lost any money doing so. I guess I was lucky. Invest in cloud mining at your own risk. If you do, get in, get out, be happy with a small profit because that is all you will make. If you make anything at all. I am sure the know-it-alls here are going to tear my answer apart but that is ok. I'm used to it. We all have our different approaches to this life thing.
Good luck on your Bitcoin Journey. Try Bitcoin affiliation, It's worked out for me. Send me a P.M. if you are interested in some affiliate marketing tips.

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February 18, 2017, 06:36:35 PM
 #34

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive.  Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

Hey, new comer, you can figure it out when you can see a good and big offer to you. And mostly they use flowering words to gather people and scam them. In bitcoin there are a lot of ponzi schemes around, just open your eyes widely to see it and make some background check.

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February 18, 2017, 06:42:17 PM
 #35

I'm pretty new to Bitcoin and the idea of cloud mining seems pretty appealing. However I keep hearing about Ponzi schemes which rely entirely on new members to stay alive.  Besides the blindingly obvious, what are the main signs that a service might be a Ponzi?

Hey, new comer, you can figure it out when you can see a good and big offer to you. And mostly they use flowering words to gather people and scam them. In bitcoin there are a lot of ponzi schemes around, just open your eyes widely to see it and make some background check.

I agree with you. The easiest way to spot a Ponzi schemes whose owners intends to scam you is by the sugarcoated juicy offers. Of course, It's very likely that We all like such offers so we tend to fall prey to scams.


~Snipped~

Aside from using common sense, what else would you need??  Huh

And, it's not just ponzi schemes you gotta watch out for, there's also those hyiP's, MLM's, and anything at all that promises absurd returns.



I agree with you to some extent. particularly MLM schemes are not entirely ponzi schemes (To some extent) because they make It clear that Earnings come from referrals.


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February 19, 2017, 12:26:51 PM
 #36

That is a very good topic to talk with about spotting pozi schemes, and I say its very easy to know which you could really observe it in mining sites who offers investments to you. Their ways is very aggressive to get any investments coming from you, and they even more particular on the big profit offers and most of the ideas were very promising. I would highly suggest to make ghost investments to them and yet the real score results to ponzi schemes.

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February 19, 2017, 12:54:40 PM
 #37

There is no safe or legit investment opportunity online, think about it why would the people capable of earning profit want to share their profit with people like us? they are not idiots but they think we are that's why they offer these cloud mining or profitable investment opportunities.

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February 19, 2017, 01:12:35 PM
 #38

There is no safe or legit investment opportunity online, think about it why would the people capable of earning profit want to share their profit with people like us? they are not idiots but they think we are that's why they offer these cloud mining or profitable investment opportunities.

There is no safe investment at all even in real life Wink

But some investments can be considered as fairly safe.
For example casinos that are a bit old and powerful seem like fairly safe.


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February 19, 2017, 06:13:56 PM
 #39

There is no safe or legit investment opportunity online, think about it why would the people capable of earning profit want to share their profit with people like us? they are not idiots but they think we are that's why they offer these cloud mining or profitable investment opportunities.

Many of the schemes were announced in the forum itself. All must you need to do is check the op trust and feedback who creates the concern thread. Schemes such doubling, over earnings, high payment campaigns, cloud mining and etc. I hope most of the people have crossed across these kind of schemes at once atleast.
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February 19, 2017, 07:25:47 PM
 #40

There is no safe or legit investment opportunity online, think about it why would the people capable of earning profit want to share their profit with people like us? they are not idiots but they think we are that's why they offer these cloud mining or profitable investment opportunities.

Many of the schemes were announced in the forum itself. All must you need to do is check the op trust and feedback who creates the concern thread. Schemes such doubling, over earnings, high payment campaigns, cloud mining and etc. I hope most of the people have crossed across these kind of schemes at once atleast.
We need to be prepared for outside ponzi schemes too. Most of the ponzis, I do see are being advertised through faucets like freebitco.in and in some famous crypto news sites. We cannot find these site's admin on this forum.

Best practice must be we need to look for their source of income. If it is legit, then we can work with them. If they just circulation people's money then we must stay away.














 

 

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