Am I using the right plan?

[letteredhub]

Today I was listening to my junior sibling and a friend of his having a conversation about a Ponzi Scheme that they both have invested in and how the friend to my bro has received his profit after the given number of days you need to wait for your profit to mature for withdrawal, and from the conversation that of my bro is yet to mature for withdrawal.

As the conversation was still lingering between their two I had to get closer and joined in the discussion acted like one with an interest to also invest too, from which I started asking them questions about the platform, the name, how it works and from what channel do they get informations about the platform.

From what they  said::
* The platform name -  KDB
* How it works - that after investing you have to wait for 5 working days for your investment to mature and yield profit before you can start making withdrawal, and for each person you bring in to register through your link you have a 10% interest of whatever amount they invested.
* Channel of information - telegram group channel.

After gathering all those informations from them I wanted to explain to them how what they are into is called a Ponzi Scheme and how it can crash at an instant and they lose their money and that it's a syndicate of scammers that's hiding behind the platform waiting for the right time to elope. I felt like talking to them about bitcoin and how's of guaranteed security than any of those schemes or cryptocurrency.  But when I looked at their countenance about this socalled scheme I was moved to hold my peace and let them learn from the hard way, as it will be more understood by them if they learn that way maybe they will give audience and interest to bitcoin when I'll have to introduce it to them after they must have been stinge by the KDB Ponzi Scheme. Because from their expressions there's nothing I will say at that time negative of the scheme that will sound truthful or make sense and I wasn't ready for argument neither.

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

[Faisal2202]

IMHO, you did the right thing. Because if they are into that platform so much that they are trusting it blindly and do not even want to listen to you about something that could teach them something besides the fact that there will be money in it too, Then they are just after money, and such schemes always scam people. In my country, many scams have been committed in the last two years, and billions of dollars have been stolen. You could use past events in which such platforms tried to scam people and looted a hell of a lot of money.

But according to your scenario, I think they will not trust you; instead, they will start to doubt you and BTC if you lead them to BTC.

I think they have to learn the lesson the hard way. And I have also faced many cases like these, but fortunately, in ponzi schemes, these platforms give rewards to early users, and when they build a fortune, they leave and fly away with all the money gathered, and in that process, the last batch who deposited money on the platform faces a loss. As people near me invested in such ponzi schemes, they were able to make decent profits, but the ones they referred to these platforms lost their assets. The bad side is that such people will never accept the fact that they are wrong. And due to them other have lost money.

[Cantsay]

[~snipped~]

The moment I saw the part that started that they got the site’s details from a telegram channel I just knew that it was going to be a scam sooner than later.

In scams like this it’s very difficult to get those that haven’t been scammed to leave it because they think they have proof that the site is legit since someone they know has been cashing out from it, without them realising that the site is only trying to make them believe that it indeed it is legit and as long as they keep paying some sets (most especially those that invested early) they’ll keep getting newbie (like your siblings) to register and when they feel they have accumulated enough money they’ll disappear into thin air.

It’s best you advise them to not refer others to the site ( although that’s the only way to earn significant amount from those sites) because you never can tell when the site will crash and if it happens that those he referred didn’t get to make their money back before it crashed he’ll be the one to pay them back i.e if he knows them.

[nakamura12]

Ponzi schemes are like that where the investors will earn profit for the first time and maybe second and third profits before they scam their investors. Well, there might be some ponzi scheme that doesn't pay their investors when they invested in the ponzi project. It's better to stay away from it and as you have said, It easy to crash not because of the project failing but because of the one who runs it which is to scam people with their so called project.

[meser#]

A lot of people don't want to admit that their truth is wrong, it's difficult for them because they are always the right person.

The best decision is to leave them alone and let them learn a painful lesson. But in general, after such a lesson, instead of thinking its right or wrong, people prefer to deny it completely.

There is a saying I like very much; free cheese is only in a mousetrap. I say this to everyone who tries to make money from air like ponzi schemes, and if they listen they will lucky and they will rid of it from less loss; but if they will won't listen they will learn in a painful lesson.

[CryptoHeadlineNews]

Because from their expressions there's nothing I will say at that time negative of the scheme that will sound truthful or make sense and I wasn't ready for argument neither.

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

At times it is good to let people learn from the hard way, but when it comes to speaking the truth, it is one thing we should never shy away from, not minding whether the people we are telling it to will accept it or not, because by keeping silence, we put them at danger of losing far more than what they would have lost if only someone told them the truth earlier on, even though they may be doubting, but might likely trade with caution.
So for me, I will advise you to go back to your young bro, and let him know that what is investing his money in, may likely crash someday, and as such should invest an amount he can always afford to lose so that if it crashes one day, he wouldn't get affected that much.

[letteredhub]

[~snipped~]

The moment I saw the part that started that they got the site’s details from a telegram channel I just knew that it was going to be a scam sooner than later.

In scams like this it’s very difficult to get those that haven’t been scammed to leave it because they think they have proof that the site is legit since someone they know has been cashing out from it, without them realising that the site is only trying to make them believe that it indeed it is legit and as long as they keep paying some sets (most especially those that invested early) they’ll keep getting newbie (like your siblings) to register and when they feel they have accumulated enough money they’ll disappear into thin air.

It’s best you advise them to not refer others to the site ( although that’s the only way to earn significant amount from those sites) because you never can tell when the site will crash and if it happens that those he referred didn’t get to make their money back before it crashed he’ll be the one to pay them back i.e if he knows them.

This is my ernest fear at the moment, it's not about my bro but those he might introduce to the scheme and it later crash and they start coming after him it would direct or indirectly involved me since we're related. And like you did said, it's hard to convince those that haven't been scammed about these schemes, and to crown it all they are witnessing other people cash out profit at the moment. The thought that I can be called to answer for him if anyone he brings loses their money in the process and he's no where to be found, is what am stomaching right now.

[ZAINmalik75]

"I think you did right here, as sometimes people really do not listen and become stubborn. As they get caught up in what others are saying. You must ask them on what basis they are investing in this project, and the only answer you will get from them is that they have seen some other friend or friend of a friend making huge amounts of profit out of this platform, and he must have said, It is real, and see, I even have withdrawn the money out of the platform.

But we all know that in reality, such platforms only gave money at the start, and when the amount became huge enough to scam people or be worth scamming them, they ran away with all the money.

You have completed your responsibility by teaching them, and you must do all you can, but if they resist, then leave them on their own, and they will learn the lesson the hard way at last."

[Hyphen(-)]

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

Talking to people who are moved by what they hear from others is very difficult because greed will push them to achieve the same thing others have achieved, which always leads to being scammed.

Most of these Ponzi schemes have been introduced to them through Telegram channels and sometimes through the influencers they follow on social media, and most of the time these influencers are just doing the ads for their own selfish interests.

Ponzi schemes always look attractive because the scammers have done so much research about the previous Ponzi schemes that succeeded that they will further develop their own in a convincing way to make people think that it is legit. We need to understand that no one has free money to give out; "no work, no gain".

[Pandu Geddon]

This is my ernest fear at the moment, it's not about my bro but those he might introduce to the scheme and it later crash and they start coming after him it would direct or indirectly involved me since we're related. And like you did said, it's hard to convince those that haven't been scammed about these schemes, and to crown it all they are witnessing other people cash out profit at the moment. The thought that I can be called to answer for him if anyone he brings loses their money in the process and he's no where to be found, is what am stomaching right now.

after you told your brother everything, and he didn't listen. forget it, let him find his own learning. but don't let that happen to you or your other relatives.
you do not need to be responsible for your brother's actions because you have already given a warning. such a scheme would not last too long. when they get enough money from people who join, everything will disappear very quickly.
just wait whether your brother succeeds in withdrawing profits or not.

[Spaceman1000$]

Today I was listening to my junior sibling and a friend of his having a conversation about a Ponzi Scheme that they both have invested in and how the friend to my bro has received his profit after the given number of days you need to wait for your profit to mature for withdrawal, and from the conversation that of my bro is yet to mature for withdrawal.

As the conversation was still lingering between their two I had to get closer and joined in the discussion acted like one with an interest to also invest too, from which I started asking them questions about the platform, the name, how it works and from what channel do they get informations about the platform.

From what they  said::
* The platform name -  KDB
* How it works - that after investing you have to wait for 5 working days for your investment to mature and yield profit before you can start making withdrawal, and for each person you bring in to register through your link you have a 10% interest of whatever amount they invested.
* Channel of information - telegram group channel.

After gathering all those informations from them I wanted to explain to them how what they are into is called a Ponzi Scheme and how it can crash at an instant and they lose their money and that it's a syndicate of scammers that's hiding behind the platform waiting for the right time to elope. I felt like talking to them about bitcoin and how's of guaranteed security than any of those schemes or cryptocurrency.  But when I looked at their countenance about this socalled scheme I was moved to hold my peace and let them learn from the hard way, as it will be more understood by them if they learn that way maybe they will give audience and interest to bitcoin when I'll have to introduce it to them after they must have been stinge by the KDB Ponzi Scheme. Because from their expressions there's nothing I will say at that time negative of the scheme that will sound truthful or make sense and I wasn't ready for argument neither.

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

At this point, it best you allow them to experience it themselves. As it's always said that experience is the best teacher. They know that the scheme is a quick money making scheme because money doesn't come that cheap. Even if you tell them about about bitcoin, at the rate  at which they are currently operating, they will just take whatever your telling them under advisement.

[tvplus006]

...I do want to know if my idea or decision on this is the right way?..

It is a wrong idea to arrange a training for a younger brother, which is associated with learning from your own mistakes, while you well understand the difference between a ponzi scheme and investing in bitcoin. Obviously, you presented your knowledge to them incorrectly, since they did not want to listen to your words.

[Smartvirus]

after you told your brother everything, and he didn't listen. forget it, let him find his own learning. but don't let that happen to you or your other relatives.
you do not need to be responsible for your brother's actions because you have already given a warning. such a scheme would not last too long. when they get enough money from people who join, everything will disappear very quickly.
just wait whether your brother succeeds in withdrawing profits or not.

Saying the user haven’t got to be responsible for his brothers action is an ignorance to the duty you owe a sibling. I don’t know but somewhere within our DNA or subconscious, we do hope our family members, relatives or friends that we do do care about don’t walk down the same road we did once or are way too familiar with to lead just no where.

I do understand that, when you try to teach a younger person or even an old person of something they feel they know too well about, especially one that has got some evidence to it, they build a wall about what they wish or hope to believe is true. The approach to it, create some relativism with it from what has been before. Let them get the clear picture and where it always ends, should they hope continue the part and you caution them enough to instill in them some level of curiosity and skepticism so they don’t get to invest big.
When it goes down, then they would understand and learn to trust in the things you know and experience have got to teach them.

[SatoPrincess]

You have done your best, it’s like the proverb “ you can take a horse to the river but you can’t force it to drink water”. Some people are meant to learn the hard way. It’s almost impossible to convince someone who has money invested in a ponzi or a project that they are being scammed. They will automatically go into defense mode, and counter anything and everything you say about the “investment”. Just let them be, they will soon learn their lesson. I hope they don’t lose a lot of money to this ponzi.

[Ruttoshi]

You should have gained their attention first,for next time that you will like to introduce them to bitcoin by telling them the truth that it is a ponzi project,and encourage them to cash out their capital and not to invest with it anymore but only the profit.

 This is left for them to take it or leave it. If it happens that they didn't listen to your advice,when the get scam,they will remember that you told them and they will respect you for knowing what they don't know. This might help you to gain their attention to listen to you when you come around next time to tell them about bitcoin, or better still accept to invest in bitcoin. Be your brother's keeper. 

[Majestic-milf]

 Ponzi schemes often appear promising and look to yield enough profits when you engage in them and this is what lures most people. Personally, one easy way to detect that it's a scam is how they never tell you the downsides, always putting the positives in front. You did the right thing by leaving them be because interfering in the situation will look like you're being a killjoy or you are not profit oriented.
Most of these Ponzi schemes thrive on telegram channels and I still get amazed how people fall so foolishly for those whack tricks.
 But if I had my way as the op, I'd at least tell them the danger of what they're doing so that even if they don't listen, at least I had a clear conscience and so that if it doesn't pan out well, I could either gloat or it could be a good platform for preaching Bitcoin to them. At least I'd be transparent with them on the ups and downs of investing in Bitcoin, which is something these Ponzi schemes lack.

[sunsilk]

As long as you've been vocal to them and have expressed your thoughts that they should be careful on what they've discovered then you shouldn't be feel any guilt anymore.

Sometimes people have to learn the harshes and most expensive way when they've been warned and yet, they have never listened to the people that were just concerned about them.

I've got personal experiences the same as yours and warn friends of mine when they seem to be optimistic about it. When I step in and tells them that they have to avoid these easy money schemes, it's like I'm kicked out of the friendship but that's fine and it doesn't matter to me.

[worle1bm]

Ponzi schemes often appear promising and look to yield enough profits when you engage in them and this is what lures most people. Personally, one easy way to detect that it's a scam is how they never tell you the downsides, always putting the positives in front. You did the right thing by leaving them be because interfering in the situation will look like you're being a killjoy or you are not profit oriented.
Most of these Ponzi schemes thrive on telegram channels and I still get amazed how people fall so foolishly for those whack tricks.
 But if I had my way as the op, I'd at least tell them the danger of what they're doing so that even if they don't listen, at least I had a clear conscience and so that if it doesn't pan out well, I could either gloat or it could be a good platform for preaching Bitcoin to them. At least I'd be transparent with them on the ups and downs of investing in Bitcoin, which is something these Ponzi schemes lack.

We all know why these ponzi schemes run successfully because our greed overpoweres our mind and ability to think that we choose these short paths to be successful but when we realize about it it's too late so we should avoid engaging in these and be satisfied in small amounts only.

[nelson4lov]

I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?

Meaningful opinions are welcome.

I have, and it wasn't a great experience because when I talk to people about Bitcoin and crypto, their biggest question has always been "How quick can I cashout?" – For people like your folks that have experienced the fast-paced nature of ponzi schemes where there are days you can gey guaranteed payment as long as the ponzi scheme platform hasn't rugged yet.

Most times, you just have to make your suggestions and your advices and hope that they take it because at the end of the day, everyone has to make decisions for themselves. To ponzi or not to ponzi.

[hatshepsut93]

Even if you firmly believe that you can't change their mind, you still should warn them, so that in the future they would be more likely to listen to your advice. If you stay silent now and let them do the mistake, you won't be able to say them "I told you so" later. Also, you never know if they will listen to your arguments or not until you try, and trying to persuade them costs you nothing, so why not do it? I fail to see any downsides.