MLM – a dangerous marketing strategy

[knowngunman]

Disclaimer: Please don't invest in MLM Systems, you won't get your invested money back. In the following topic is explained why:

Sorry for bringing this thread up again. This reminds me of MMM some years ago in Nigeria but most of us have learned the lesson after it crashed. MLM makes people believe that they can get rich by joining them but in reality, very few people make a significant income from MLMs. However, it's also worth noting that not all MLMs are the same. There are some that have more ethical practices than others and there are even some that are legitimate businesses. It's therefore, advice able to do your own research before getting involved with any MLM service. As usual, I request to make a translation of this thread on Nigerian local board using pidgin language. The rate at which MLM (ponzi to be precise) is growing in Nigeria is alarming and it's our collective responsibility to create awareness so people can stay away from this platforms or whatever they are called.

[1714617001]

1714617001

[Mia Chloe]

Well written OP, Not forgetting MLM is also been used in the ICO market enabling shitprojects raise huge funds even more than the somehow legit projects in the aim of deceiving the general public.
Projects using MLM to hype their ICO are usually shitcoins with nothing to offer except tokens been tradable on few worthless exchange in future. I discourage investing in projects that uses MLM.
No doubt MLM benefits only the early adopters and they need those I call "new fools" to keep the project they're using MLM to promote alive.

Do you mean referral links? It's similar when you compare that both are free advertising by the existing user and therefore he is interested in geting referrals. MLM is much bigger because the referrals of your referrals etc. still get rewards.
But in general agree, many ICOs use it and it's always recommended to keept that in mind when you get over a referral link that the person posting it is interested in getting you in. Don't trust, verify  
Good point.

@1miau I intend on making a translation of this post in pigin in my local board so I am officially asking to reserve a slot.

Translation is now ready in my local board.
Here is the link ; MLM na dangerous marketing strategy

[1miau]

Translation is now ready in my local board.
Here is the link ; MLM na dangerous marketing strategy

Well done, it's approved already and I've added your translation to my list:

Language	translated by	Title
_____________	_______________	__________________________________________________________
Nigeria (Naija)	Mia Chloe	MLM na dangerous marketing strategy

Once again, it's nice too have such a topic like warning about dangers of MLM available for our Nigerian community.
My topic is quite "old" already and MLM, like Bitcoinnect for example, isn't very popular anymore but it's always helpful to know about MLM and why it's a dangerous marketing strategy.  

[Publictalk792]

Dear 1miau sir,

I want to translate this topic in my Local Language and want to post it in my local community thread. I seem this topic helpful for my community so I decided to translate this topic. I shall be happy if you will allow me to translate your topic and reserve my seat for this purpose. If you will allow me to I will start my work. I will wait for your kind reply.

Thanks
Publictalk

[1miau]

Dear 1miau sir,

I want to translate this topic in my Local Language and want to post it in my local community thread. I seem this topic helpful for my community so I decided to translate this topic. I shall be happy if you will allow me to translate your topic and reserve my seat for this purpose. If you will allow me to I will start my work. I will wait for your kind reply.

Thanks
Publictalk

Hello, dear Publictalk792 

Unfortunately, my topic "MLM – a dangerous marketing strategy" is currently not available for translation:

Reserving new translations is currently not available.

If you want to make a beneficial translation, I'm sure you'll find more interesting topics for translation which can be helpful for your local board like "[TIPS] to avoid pyramid quotes (for Newbies)" or similar.
As far as I know, LoyceV also has a great list here, where you can select from: [GUIDES] on Bitcointalk. Index thread (until there is a dedicated subforum?)