Ponzi Scheme 101

[Pikiboy]

There is no one who cannot identify a ponzi scheme now when they see one, but obviously, greed appears to be a very powerful influence. People truly don't care about the risks, they just build their hope on the expectations of very high profit returns, usually 100% profits or even more. There is nothing like ignorance here, they all know what they are doing.

I totally agree with you, everyone knows what they are doing. People who go into Ponzi knows it Ponzi, they are fully aware but they still go ahead to put their money because they are just interested in starting on time and making a lot of money before it crashes and even if they’ve not even made any profit yet or enough profit to at least get  the amount they deposited back and it crashes, if another one comes again, they will still dive in. They are just after quick money regardless of if they are scam or not.

After my experience with Ponzi scheme I do not care to go put my money into such site anymore because I know that if I dedicate my interest in putting my money into Bitcoin and hold for some years I will definitely see the benefits there without having to loss any dim, the problem is only just to hold it for long term and also secure my seedphrase and private keys carefully.

[Franklyn-wood]

Well ponzi will destroy your life and life savings i see people who invest their savings believing that they could triple their savings but lose it in the scheme,

Most of them are lazy and greedy set of people. They want to multiple their money without working for it, you just want to seat at a place and their money is going to be multiplied, it’s doesn’t really make sense. If it’s easy to make money, people are not going to be working, they will just invest their money, within short period of time their money will have multiplied so many times. It’s high time we know that their is no place you will be able to multiply your money without working or doing anything, if anyone ask you to invest, and they promise you quick return with zero risk, just stay away from investments like that because you are likely going to be scammed.

The way people wants to make money fast as if it was planted and all we do is go there and plug it out. I remember the heat or the sunshine empire scheme in 2003. It was a massive one, when people had to withdraw there finds from bank to invest in it with promises of getting multiple of the amount invested. I had friends and colleagues who fell for this. I almost join the train because at that early stage when it was introduced, everything was going well, until they started having connection and withdrawal delays. Some used house rent, school fees, marriage bride price and other funds ment for important thing they invested it and lost. Ponzi scheme might look nice at first but later becomes ponds or regret and pai.

[EarnOnVictor]

After my experience with Ponzi scheme I do not care to go put my money into such site anymore because I know that if I dedicate my interest in putting my money into Bitcoin and hold for some years I will definitely see the benefits there without having to loss any dim

It's been long I was directly involved in a Ponzi scheme where there would be a referral program and downlines, and it didn't end well. That should be over 2 decades ago. But after then, I still got myself involved in one more, but indirectly this time, for I didn't know, which is why I would like to tell you that many people got involved unknowingly as well, but people are getting wiser these days.

The last one in my country that even got the law enforcement involved didn't come in form of a Ponzi scheme, to know how these people are getting smarter, as it was linked to an AI, and it operated for years; paying people. It was called Crypto Bridge Exchange (CBEX). They easily took over $1B dollars away through Ethereum.

[JoyceBTC]

There is no one who cannot identify a ponzi scheme now when they see one, but obviously, greed appears to be a very powerful influence. People truly don't care about the risks, they just build their hope on the expectations of very high profit returns, usually 100% profits or even more. There is nothing like ignorance here, they all know what they are doing.

I totally agree with you, everyone knows what they are doing. People who go into Ponzi knows it Ponzi, they are fully aware but they still go ahead to put their money because they are just interested in starting on time and making a lot of money before it crashes and even if they’ve not even made any profit yet or enough profit to at least get  the amount they deposited back and it crashes, if another one comes again, they will still dive in. They are just after quick money regardless of if they are scam or not.

After my experience with Ponzi scheme I do not care to go put my money into such site anymore because I know that if I dedicate my interest in putting my money into Bitcoin and hold for some years I will definitely see the benefits there without having to loss any dim, the problem is only just to hold it for long term and also secure my seedphrase and private keys carefully.

It is good you’ve learnt from your experience and you have different mindset towards this unlike some other people.
This Ponzi schemes has actually wrecked so many persons but they still don’t learn, because of greed. People should learn how to start investing their money in asset that will create wealth or more value for them, it beyond just making money for today, how secure are you in the future.

[serjent05]

It's been long I was directly involved in a Ponzi scheme where there would be a referral program and downlines, and it didn't end well. That should be over 2 decades ago. But after then, I still got myself involved in one more, but indirectly this time, for I didn't know, which is why I would like to tell you that many people got involved unknowingly as well, but people are getting wiser these days.

I think most people who get involved in an MLM company or networking have someone knocking on their door offering a Ponzi scheme in disguise as a "new opportunity". These people who offered this kind of so-called "opportunity" are people who were once co-distributors or co-agents of their previous MLM company. Most of these people are the top sellers or recruiters who had an established reputation in the company, which is why most victims are easily swayed by the offer.  It is such a lucky chance that I have read lots of scam stories here in the forum that I am able to tell the difference between a legit operation and a fraudulent one.

[NewRevelation]

There is no one who cannot identify a ponzi scheme now when they see one, but obviously, greed appears to be a very powerful influence. People truly don't care about the risks, they just build their hope on the expectations of very high profit returns, usually 100% profits or even more. There is nothing like ignorance here, they all know what they are doing.

I totally agree with you, everyone knows what they are doing. People who go into Ponzi knows it Ponzi, they are fully aware but they still go ahead to put their money because they are just interested in starting on time and making a lot of money before it crashes and even if they’ve not even made any profit yet or enough profit to at least get  the amount they deposited back and it crashes, if another one comes again, they will still dive in. They are just after quick money regardless of if they are scam or not.

After my experience with Ponzi scheme I do not care to go put my money into such site anymore because I know that if I dedicate my interest in putting my money into Bitcoin and hold for some years I will definitely see the benefits there without having to loss any dim, the problem is only just to hold it for long term and also secure my seedphrase and private keys carefully.

It's only people who like free things that will always fall for Ponzi schemes. How do you get ×2 of your investment within a week or month? What kind of miracle is that. Yet, people tend to forget the reality behind the profit and throw themselves all in. People should learn to work for what they get. It's not bad to make gains, but what work have you done. You can't just put money into something, them relax and in few weeks, the money is triple the value. That's insane.

Anything that offers free money without showing realistical means of working for those gains, them am out totally. People should be wise and careful.

[Mpamaegbu]

Ponzi scheme is a serious business for some people.

Yes, it's serious business but for those who originate the schemes. This set of people don't lose once the scheme is announced to the world. They only have to be patient and wait for public interest and patronage to grow and then do them dirty.

At the end of all this advice that has been shared to warn people about the dangers of Ponzi scheme, the ones that will avoid them will do so while those who will want to ignore this advice wil still go ahead.

You're right on that. It's the reason I don't waste saliva talking to anyone in the bid to rescuing them from investing in such scam. Adults should be responsible for their decisions and actions. The consequences, they should face them too.