Crypto Pyramid Schemes are still Amongst Us

[Harlot]

The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

Experience?  If you are looking for a way to fall into scam then looking for experience is one of the best ways to go. Experience like credentials, projects, accomplishments, and background history is something a scammer could easily fake and a lot of newbies can be fooled by this. Still looking at offers or earning potentials that are too good to be true is the best thing to spot a scam. Those high yield and fixed daily payments are something you need to see to identify it being a scam.

[rizkyalhabsy]

i guess, people already know about it well for nowadays , the problem about it just who the advisor of that project, remember NGX ? nagacoin , roger ver as a advisor of that project , and the project fall down. of course investor didn't get anything.

[Nolimitz84]

Good instruction, but I’m sure anyway someone in the hope of quick enrichment will fall on these pyramids. That is probably the essence of man.Most of all, of course, beginners are at risk.

[Crypto5060]

Most times its greed and get rich quick syndrome that push people into falling victims of pyramid scheme. Any investor should do due diligence before investing in any scheme to avoid scam.

[Ucy]

Yes and interestingly some of them appear completely legit just like Miracletele that claim to be the one and the only blockchain based telecom operator in the world with bi-weekly profit sharing and community believed it untill it collapsed few months ago as the amount of funds going out exceeded incoming funds and thus they stopped paying confirming the ponzi model of the project.

I guess it's this site: https://www.miracletele.com ?

The site is down by the way... And it has a Twitter page too https://mobile.twitter.com/miracletelecom?lang=en
The name sounds deceptive (Miracle Telecom). .. people still patronize it anyway.

[passwordnow]

Research.
A very simple tip but if taken seriously this will save the newbies a lot of money and time. There will be no more victims if they are doing that but the sad thing is that many of them still becomes a victim of these scammers because of being lack of knowledge and doesn't have the initiative to research first about a project they are looking at.

[X-ray]

It seems that most of pyramid schemes and MLM as of now only operates and spread its information through mouth to mouth meanwhile if they are trying to promote such a shitty scheme through forum or social media they will immediatley get backlash and yes the most easiest way is to realize that their offers usually too good to be true and therefore considering their illogical offering of immense return of investment it's easy to distinguish such project.

[qtronix]

The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

Experience?  If you are looking for a way to fall into scam then looking for experience is one of the best ways to go. Experience like credentials, projects, accomplishments, and background history is something a scammer could easily fake and a lot of newbies can be fooled by this. Still looking at offers or earning potentials that are too good to be true is the best thing to spot a scam. Those high yield and fixed daily payments are something you need to see to identify it being a scam.

Maybe the author of the post under the team's experience meant her previous achievements. Maybe they have other projects that have been very successful and it would increase the confidence in such a team.

[Lagduf]

Good instruction, but I’m sure anyway someone in the hope of quick enrichment will fall on these pyramids. That is probably the essence of man.Most of all, of course, beginners are at risk.

Im not sure about that, when so many people are wanna become rich person quickly and so many of them will try to join in the IEO and can it be considered as a pyramid scheme? As far as i can see that right now there is no a lot of pyramid scheme as so many investors and traders know about how to identify the pyramid scheme.
the beginner is getting more awareness from the experts right now. People aware of which is the project that offers the pyramid scheme and they have been learned a lot from their past experience.

[magneto]

Certainly, and it sucks to see a lot of people still dragged into these schemes that have been debunked time and time again.

Onecoin comes to mind, as one of the predecessors of even Bitconnect itself. And there are plenty of cloud mining tokens as well as flat out pyramid scheme tokens that are still listed on big platforms like CMC, which is an absolute blunder if you think about how far we've come already.

The greed of the market is ultimately driving use of these tokens - and people just have to learn the hard way.

[antsam]

I support your statement, as a warning for all of us, especially new players. Crypto is not far from a scam and many people think crypto can provide huge profits overnight so there is a great chance of getting entangled in a crypto pyramid scheme

[Aabcde]

Yes, there are many newbies who are tempted and go there without being able to distinguish which ones are truly pyramid schemes.
But in reality, too many old players who jumped there also with the excuse of looking for luck. Yes, of course, they also think to play at the beginning, not play at the end. Because it's too risky to play at the end.

[BlackFor3st]

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

As an investor, you should know already about this type of scheme and how you could avoid it and it's good that you created this thread to remind all the new comers about this kind of scheme.

Most of the victims to this kind of scheme are the new comers as most of them are very eager in getting a profit with less effort. As we know that pyramid scheme became very popular because of it's promising profit. Let's just hope that this year 2020, only few will become victim to this kind of scheme that existed for a very long time already.

[superving]

Crypto scam is already here for years and it will live as long as crypto is alive.  Crypto schemes is the easiset way to scam people with huge ammount of money,  ive seen some cases on the news. We must educate all newbies in crypto to stay away on these scam attempts.

[NathanJB]

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

They will not be gone easily because there is still money in what they are doing. For as long as there is still something to gain, they will not easily stop. There are still people who have not yet done good research and familiarization of cryptocurrency that is why there are still victims until now. And there are still greedy individuals who easily fall on too good to be true offers that is why the scams are still thriving until now.

[LouVandetta]

Research.
A very simple tip but if taken seriously this will save the newbies a lot of money and time. There will be no more victims if they are doing that but the sad thing is that many of them still becomes a victim of these scammers because of being lack of knowledge and doesn't have the initiative to research first about a project they are looking at.

I know, right?! Sadly as it is, this is how things work now. They don't even try to look for more information about the project they want to invest, and when worst comes to worst, they have already been scammed. Either by pyramid schemes or any other schemes.

As long as there's always newbies who are too lazy to do some research or learn the very basics of investments, scammers will always take advantages of them. And when that happens, those victims will blamed it all on cryptocurrency, saying that cryptocurrency is nothing but a scam investment and etc etc.

[junkerr]

Crypto scam is already here for years and it will live as long as crypto is alive.  Crypto schemes is the easiset way to scam people with huge ammount of money,  ive seen some cases on the news. We must educate all newbies in crypto to stay away on these scam attempts.

we just need to improve our ability to analyze project scams. don't be easily fooled if you don't want your money to be taken away by scammers. indeed there are more and more scam projects, but I think now not much money has been successfully brought from investors.

[karanggatak]

To simplify it for the newbies, let me just give them a simple explanation of what to avoid...
When any investment tells you to send them funds and they promised to double the funds in a small amount of time and send back your funds to you with the profit, then you should Definitely stay away from that investment.
That is what we call an HYIP or Ponzi scheme and it never ends well, Pyramid schemes ain't much better too, these are schemes that robs Peter to pay Paul and some of them are just blatant scams that doesn't pay even the first set of people, you don't wanna start 2019 with a loss.

I agree with you this is a very good suggestion. a novice investor is very easily attracted to large returns in quick time. they don't have enough experience so these beginners are always the target of fraud ponzi schemes. therefore we must always do the research seriously before investing and do not be easily tempted by large returns quickly.

[wajik-tempe]

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

Not only on crypto, this type of investment is still exist since a long time till right now in every corner of any investment. This thing is still alive because of there are so many people who already realize this but still want to invest because they know they will get an advantages by scamming new people. So this thing will last forever because the newbies is always born.

[riso2015]

I support your statement, as a warning for all of us, especially new players. Crypto is not far from a scam and many people think crypto can provide huge profits overnight so there is a great chance of getting entangled in a crypto pyramid scheme

I have experienced that, when I was a beginner who entered the world of Crypto but I chose the wrong way to join an online business that pays Bitcoin, MMMGlobal by Mavrodi. I'm sure many friends here have also joined there before. It was an online business with a Pyramid scheme that was very popular at that time.