Am I using the right plan?

[lionheart78]

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.

You can just tell them the risk involved in engaging with those Ponzi scheme companies.  It is up to them to listen to your advice which I hope they do.  If they do not then at least you tried your best to warn them.

I also come in contact with people who invest in Ponzi scheme.  Since they had already invested, I just told them to wait for their account to mature and withdraw their fund ASAP since I told them that the system is doomed to collapse at one point in time.  They don't listen to to me but instead from $1000 investment they add another $40k, yes they get greedy when they receive their first payment.  After a year, I asked if they were able to get their money and profit, and they told me they were into it and filing a case to get their funds.  I did not comment anymore to avoid adding salt to the injury.

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[sheenshane]

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.

You did it right and there's nothing wrong, at least you tried to warn and now it's up to them to listen or not.
At least you've tried to help them to understand that Ponzi schemes are unsustainable by nature.  Eventually, when there aren't enough new investors to pay returns to earlier participants, the scheme collapses, causing the majority of investors to lose their money.

That's very common here in my country, but now people learned not to invest in a Ponzi scheme investment and there's no easy way of making a profit on investment.  That's a pyramiding Ponzi Scheme.

[Awaklara]

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

you've told him it could make all their money disappear. the first withdrawal may work to convince them to deposit a larger amount. if that has happened, then they may not be able to make any withdrawals.
what you did was correct by providing an explanation regarding the risks of this unauthorized method. if they don't heed your advice, then forget them. there will be no benefit for you if you put too much pressure on those who don't believe in you.

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.

A scheme like that isn't the same as cloud mining which we usually find as advertisements on social media. for some people who already understand how such scammers cheat, it will not be easy for us to deposit money for small profits. but those beginners who have high curiosity will be very interested in short profits even when they don't do anything.

[libert19]

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

Regarding promoting BTC, usually promoting something unsolicited gives a bad impression, I would refrain from doing that.

[YUriy1991]

Hearing what you said above, that's the pattern and what you convey will be rejected because they haven't felt the loss of what is being invested in the token/token and most people are easily tempted by investments that promise high returns or profit sharing, without investigating first the credibility and legality of the associated investment platform. who is sure to convey the truth and always remind and beware of fooled investments, understand about the ponzi scheme especially those you care about and those in your immediate environment.

[Adbitco]

Most times you don't have to remain silent for them to fall into prey before helping them out, it could be you are their saviour and you can also help to avert any danger that is to come upon them but due to you not opening your mouth they may lose more money, whereby you are wanting them to learn in a very had way.
I know how many people I have saved from ponzi scheme when they consulted me to buy an idea about the platform, immediately they explain to me about how the platform works, just like what they did explained to you then I will tell not to invest because that platform may not last longer.

The only thing I will tell them will that make them leave such ponzi scheme is that "If the platform last for 6 months or 2 years come tell me I will invest" and guess what?
Just 2 months they will ran to me saying the platform is fake, but when they consulted  me they were very careful with their funds so they removed their money earlier before crashing. At this point they started asking how about your platform "That place you normally tell us".

[Ziskinberg]

Most of the time, people make mistakes first before realizing that they are wrong. Very often to happen that some people have fallen into investment scams because they never listen to other's advice. Very unfortunate, but never let it happen to your siblings since you already have an idea about the Ponzi scam scheme which is likely they are into now. They might argue with you OP but must have to be firm in your position and convince them that they are wrong and help them understand how real crypto investment works.

[Pandu Geddon]

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.

yes, I understand that. however, because are still relatives sometimes we have the feeling not to let relatives get into trouble. but sometimes there is enough resistance that occurs when a brother has seen his partner make a successful withdrawal. and that means that anything we say or warn about will not be taken into account.
his job of giving advice has been done and if his brother doesn't accept it, then forget it. We don't know the end, but we know it's risky for anyone. and those experienced in this matter would of course avoid it.

Most of the time, people make mistakes first before realizing that they are wrong. Very often to happen that some people have fallen into investment scams because they never listen to other's advice. Very unfortunate, but never let it happen to your siblings since you already have an idea about the Ponzi scam scheme which is likely they are into now. They might argue with you OP but must have to be firm in your position and convince them that they are wrong and help them understand how real crypto investment works.

it is possible that when his brother realizes that his investment will fail and cannot make withdrawals, his brother will seek Op to provide a more in-depth explanation. and that is what will make his brother aware of the risks he faces.

[sokani]

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.

I don't think you actually did the right thing by not warning them of the dangers that lies ahead. You would agree with me that it's not everyone that's well enlightened about the ponzi schemes, some persons are easily swayed by quick money that they don't pause for a second to think or do diligence before taking any action. So you would have done your part by warning them and if they fail to heed to your warning then it's up to them to suffer the consequences.

I think it would have been an inappropriate time to educate them about Bitcoin, they might think you introducing Bitcoin to them is the main reason you want them to abandon ship. Just give them some time then you can enlighten them about Bitcoin but you really need to give them heads up about the ponzi scheme.

[isaac_clarke22]

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.

Kinda reminds me of those people having photoshopped of successful cash out and even those locals in here that seemingly had printed money which should be put in jail due to obvious printing of fake money. It isn't really hard to fake out digital information these days. Even scammers being scambaited by popular Youtubers knew the usual HTML edits in the chrome devtools.

I can recall some crypto casinos back then just stopped running their website and abandoned their Discord server. Bruh moment literally.

[Crypt0Gore]

I don't think they will listen to your idea, there is something you are not getting and I will make you understand.

1. It is possible that they know it's a scam strategy or Ponzi scheme, so you telling them is like getting on their nerves.

2. They will surely prefer this over Bitcoin invest, why? Most people likes and prefer something that turns into money in a very short period of time.

3. It's not about the interest they will make or they are making, the question is how the money is generating more money, how is the money been put to work? This is what I always ask those that invest in such Ponzi and they mostly walk away because they don't have an answer.

It's clear and easy to know if something is scam, it's not easy to make money, yet a platform request you to make deposit and double your money in a week or two, no, nothing works in such way, unfortunately, many understand and still choose to keep doing it.

[Dzwaafu11]

2. They will surely prefer this over Bitcoin invest, why? Most people likes and prefer something that turns into money in a very short period of time.

And another reason they won’t listen to him is that most of these people investing in all these ponzi schemes are aware of bitcoin investment, but because of the time it will take before they get their money back with profit and the risk involved in bitcoin investment, they can’t do it. They also feel too lazy to sit down and learn bitcoin investment, which is why they see this thing as an easy way to get money since they won’t learn it. They will just get convinced that in less than an hour they will start making money, forgetting that they can disappear with their funds at any moment.

 

It's clear and easy to know if something is scam, it's not easy to make money, yet a platform request you to make deposit and double your money in a week or two, no, nothing works in such way, unfortunately, many understand and still choose to keep doing it.

All this is due to greed, and these types of people are not ready to work and get money, which is why they easily get scammed. If not, it is very unfortunate and surprising when someone will SM request that you deposit money on their platform, and they will double the money for you in a very short period of time. They need to understand that being greedy will never be in their favor in any way, and you can’t get money for free without someone benefiting from you.

[_BlackStar]

I have come across many people who have been caught up in ponzi schemes in the past - often new things emerge especially when one of them manages to benefit from the scheme.

Of course I'm trying to change their mindset about investing – but it's not as easy as I imagined. They are too selfish to accept the fact that the investment they got was a ponzi scheme – obviously out of greed and the lure of big money. I'm not forcing them to believe – I'm just talking about something and comparing it to other similar cases in the past. It's not easy to change their mindset - but we are not responsible for their investment decisions.

[letteredhub]

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.

[ultrloa]

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.

Don't expect some other people to understand you immediately that you are just trying to warn them about those ponzi schemes which they are participating since they might just ignore you and say something negative about the warning you said. Its normal for people to a t according to their greed so maybe its best to let go those people keep participating even if you give proper precaution about those ponzi and let them learn on hard way since experience is really a best teacher for then to learn about such thing.

[letteredhub]

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.

Don't expect some other people to understand you immediately that you are just trying to warn them about those ponzi schemes which they are participating since they might just ignore you and say something negative about the warning you said. Its normal for people to a t according to their greed so maybe its best to let go those people keep participating even if you give proper precaution about those ponzi and let them learn on hard way since experience is really a best teacher for then to learn about such thing.

@ultrloa you are in the direct as me on this, at least them learn and accept it the hard way so that I can be vindicated of my cautioning to them by whatever happens to their loss. Because there's a way I might want to go about it and they will be thinking that am jealous of their investment and the profits they are to make from it. So let the end justifies everything.

[isaac_clarke22]

I can relate to what you mean, but my choice of leaving them to making this mistake is coming after I had politely told them that what they doing and calling it investment is a Ponzi Scheme which can crash in a twinkle of an eye but as one of the comment's made by a user saying that experience is the best teacher , perhaps by way of experience they will have a grounded understanding of my cautioning them . That's my thoughts.

Either way, yes it is.
People might hold you accountable in opposite for keeping them away from that particular investment. It won't be your fault anymore regardless so you're good.

It's just like doing trading vs virtual trading. You would never feel the losses if it isn't really your money involved. I encountered close-minded people before, but not really in crypto, and it is so painful to work with them.

[AakZaki]

I would have warned them and cautioned with the ending that if they still want to invest they can. Your choice of leaving them to make a mistake is not something I would do especially when you know better.

Regarding promoting BTC, usually promoting something unsolicited gives a bad impression, I would refrain from doing that.

A bad impression will only occur if they invest incorrectly, do it the wrong way. promoting Bitcoin as the most sound investment in the crypto space even if unsolicited is the most correct way. We just need to give a warning about how the risk will be, so they can be careful and not cross the line we have warned them about. Now many investment ponzi schemes use Bitcoin as a tool to attract new users, we know Bitcoin is not the main ponzi center but as a tool used. Bitcoin is still Bitcoin, ponzi schemes are stowaways that have a negative effect on new users.

[Mpamaegbu]

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...

You failed them, I would say. You failed them in your capacity as a big brother and as someone who knew better. You should've warned them first to clear your right to do good and your conscience. At least, trying to talk them out of it and telling them about Bitcoin would remove any sense of guilt from your mind in case they eventually get scammed (that's usually the end result of such investment). Everyone doesn't have to learn the hard way, especially if they had those to educate them around.

[Dr.Bitcoin_Strange]

Well, for me, if I see people going the wrong way and am sure that the step they are taking might likely leave them with regrets, I usually inform them beforehand. Although it depends on the situation, it's good to tell people the truth, even if they don't believe you at the time. If they finally test the scheme and get a bad result, they will realise that you warned them in the beginning. You are right for not being convinced to join them in investing in those Ponzi schemes, but personally, in my opinion, you did not do the right thing by not telling them what they were venturing into. There have been a lot of failed ponzi schemes in my country, so when any new ones arise, only a few people fall victim. Any platform that promises a huge percentage of return on investment is probably a scam or ponzi scheme because they don't have a proper mechanism that can enable them to maintain the profit they are giving investors for a very long time. That's why they will run with investors funds after they have paid only a few people and might win the trust of many people who will invest last and will have their funds lost.