Crypto Pyramid Schemes are still Amongst Us

[wozzek23]

Basically these projects look about the same and very often it is visible with the naked eye that this is a hoax, but for ordinary people and investors it looks normal, so for all newcomers and those who are not on the topic, I advise you to learn about the stuffing of the project from more experienced people.

There are a lot of new people who join the blockchain tech only due to their greed in order to have vast profits in small time. They might be the ones targeted and they usually get attracted to any such project who might be paying good for minimum hardworks in small time but those might end up being a bubble and if you really spend most of your capital on the scheme to find yourselves profits than you would be the one landing up in loss once the scheme is distressed.

So for newbies, it is always necessary to stay away from these kind of schemes as it is not even possible for them to make an immense research for the project before investing and actually, their greed eats them up.

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[Beparanf]

do not be easily tempted by a project that promises to multiply profits in a short time, because in the world of crypto everything needs a process to get maximum results.
immediately avoid suspicious activities and don't be easily influenced by people you don't know.

We should know that when it’s too good, there must be something negative in it. It may be the product itself and it may be the idea of it. We must learn to distinguish how they manipulate and run their project. Newbies should be aware of what they get into it.

[BeManga]

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.

newbie really need to be careful about pyramid schemes we always need to make a research before investing
a pyramid scheme is really easy to find out because there is already some article available online that can help to point if its one

[princecharles]

There is no doubt that the cryptocurrency industry is faced with a huge number of scam artists who utilise pyramid schemes and multi level marketing structures to swindle investors and partners in the cryptocurrency space. Its a candid advice for all to be very careful in their investment choices to avoid issues like this.

[monineklutak]

I dont except people to still fall for pyramid schemes. Ponzis aren't hard to spot. With through research you can tell if an investment scheme is ponzi or not, it doesntt matter how hard they try to cover it. Newbies don't take time to research and that's where the problems lies.

not only beginners can be affected by this ponzi scheme, now the ponzi scheme is much more difficult to detect, we must avoid unclear investments, there is only one way in my opinion, which is to analyze the investment project

[udonmez]

Even high thrusted coin are scam and pyramid these days. Every beginner of course should be careful. I do not suggest them to invest altcoins at the beginning. 

[Yaunfitda]

Even high thrusted coin are scam and pyramid these days. Every beginner of course should be careful. I do not suggest them to invest altcoins at the beginning. 

Well they can invest in they know what they are doing or at least DYOR.

But the problem with most beginners right now is that they buy the hype and thinking that they can make easy money. But it is not the case, altcoins are still good, but you need to be very careful. I still prefer top ten altcoins so that the risk is not that big. As compare to those high risk high reward IEO/ICO, definitely not suited for beginners.

[shiming]

In the crypto world, there are too many scams. For newcomers, they like such scams more easily and are more exposed to them. We like to remind and teach people who have just entered the market how to stay away from such scams. In this way, the crypto market can develop more orderly. This is what we should do to let more people know about Bitcoin and blockchain technology.

[tungaqhd]

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.

It is sad that many newbie still get scammed by Crypto Pyramid Schemes. They often offer high revenue by investing and referring friends so people who lack of knowledge can be scammed easily.

[Chainsmokers]

do not be easily tempted by a project that promises to multiply profits in a short time, because in the world of crypto everything needs a process to get maximum results.
immediately avoid suspicious activities and don't be easily influenced by people you don't know.

It is very important to note that many people do not easily believe what others say, but scammers certainly have many ways to be able to make other people believe in the projects they bring and we know of course many people are careful in every decision but some of them can still be trapped or entered into the project and this I think is normal and maybe all we have to do is share opinions with the closest people who are the same as knowing cryptocurrency.

[miklesm]

I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

[FanEagle]

These pyramid or MLM projects are always meant to carry a major promotion of the company. These schemes attract a lot of peoples and it creates higher demand for their company. But mostly, these schemes should be ignored as they give profits at the initial stage but they might stop paying their users after a specific time.

Mostly what I saw in MLM or pyramid projects was that they use the money collected from the downline to pay the upline so they do not really have to pay anything from the pocket but instead the chain keeps on running in the similar ways. This would be highly profitable for those projects but it would eat up the capital from the investors who were late to join the benefits.

[koang]

I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

Yep.this is ironic...
Almost everyone knows that t is impossible to get huge profits in a very short time
But greed make people blind and a convincing liar can make you give up almost everything you have.
To avoid this, be a smart investor, do in-depth research before deciding to invest and don't invest beyond your means.

Be carefull and be a smart crypto investor!

[fortunecrypto]

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.

If they are aware of Onecoin and Bitconnectcoin, I'm sure they are aware of what scam coin looks like and they are fully aware that projects that offer a plan with guaranteed interest can be considered a Ponzi scheme and multi-level marketing, people should know how to differentiate Cryptocurrency volatility and a Ponzi scheme.

[Google+]

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.

If they are aware of Onecoin and Bitconnectcoin, I'm sure they are aware of what scam coin looks like and they are fully aware that projects that offer a plan with guaranteed interest can be considered a Ponzi scheme and multi-level marketing, people should know how to differentiate Cryptocurrency volatility and a Ponzi scheme.

the name of the case that you have mentioned might be for experienced traders to know that it's a scam or not but for new traders it will be difficult to choose a good cryptocurrency they don't know the pyramid scheme that makes a lot of people lose and they also don't have the experience exposed scam so if such a scheme still exists they will target traders who don't know it all to make them victims.

[sayaya17]

Yes, in 2020 we have to at least learn from experience, be smarter and more careful in choosing investments in the crypto world, so choose projects that are far from fraud and scams, because crypto space is indisputable if around us a pyramid scheme is formed which can deceive anyone who wants to invest in crypto, do not let adverse events in previous years repeat this year. So don't be lazy to analyze a project if you want to invest.

[biddicoin]

I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

sadtruth, as long as there is demand, there is supply too. greedy is human nature, that's why they want to earn fast money
they often dont use their logic as well before doing something, at that time, the greedy works

it doesnt only happen with newbie, but the experts also can do
I myself try hard to use my logic before investing to avoid this one

[sana54210]

There is no time period where people will not fall for pyramid schemes, it has existed for over 100 years now and it will continue to exist forever.

I mean they do legit business pitches in sales and marketing with suits and professional looking offices, which invites maybe hundreds of people every single day yet even if they get 1 new people into the system it is better compared to zero. I have been to one of them for example because one of my idiot friends were convinced enough that this business was definitely! not a ponzi, dude was making so little amount of money per person they can enroll that I couldn't believe he would even bother to join in the first place but he did and invited me as well.

For all purposes, they looked like a regular business that asks for money for startup costs of you getting website and products etc so they don't start negative and then they gave you these things and told you to either sell them or find someone else who will sell them and take commission, I bailed out of course but it definitely looked like any other business in the world when looking from inside.

[Hypnosis00]

We are still not getting far from any form of a pyramid scheme, cheating, and many questionable acts that will lead to losing. In fact, not only newbies could always be their victims but sometimes it happens also the old crypto investors. It is most likely that scammers are improving their strategies also so they could still catch their prey.  

With all the awareness that spread in the forum and even in social media it still, we could about complaints about this. It may be we could ever stop this thing of its existence.

[Meowth05]

Honestly, back in the day when I was a newbie, I used to fall in this kind of scheme but luckily, I don't have that much money so they only got a few of my funds. Learning here is that before entering in a particular investment you should make a research first, take all the things you must know and always use your brain. It is easy to determine if the project is a totally fraud, it is very rare to see an investment that would give a double or triple reward so don't let them fool you otherwise it will be your loss. Just use your brain and follow your intuition that will make you fine.