Am I using the right plan?

[tvplus006]

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.

So you will just see them losing their money at a time when it could have been avoided. And all this in order to then poke their noses and point out that they should have listened to your advice.

Actually, what amount are we talking about?

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[_BlackStar]

-snip-

@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.

Some of them might change their mindset if you have the right method of explanation - but try to stay away if you can't change it after one or two tries. Let them gain experience regardless of good or bad - this will teach them to accept other people's opinions or hear them.

In my previous post – I already said that it's difficult to change other people's mindsets if it's too late, especially if they've made a profit even though they're actually struggling with a ponzi scheme. Ignore them - let them learn for themselves.

[Humblevirus]

Ponzi schemes are not new to the world, and a lot of people know about them, but due to their eagerness to look for quick money, they are always blind and become deaf to hearing the truth. It is not until they get scammed that their eyes and ears will open.
 
It is true that learning from mistakes is the best process of learning, but I will advise you to just be looking at them until they make the mistake before you start teaching them about Bitcoin and cryptocurrency in general. It may be a wise idea to start them now because if some of them are opportune to withdraw their money, they should go back again,and I believe some of them will give you the least listening ears.

[JunaidAzizi]

As an elder, it's your responsibility to understand them and to protect them and their money from the Ponzi scheme. However, sometimes words are worthless to the person who listens to others or sees a person achieve the same thing for what he looking for. In that case, leave them for a better lesson that they will never forget in their life. I myself got caught in this type of scheme and I lost my money and also they gave me the address of their office when I went there I saw the building was under construction and from that I took a better lesson. So sometimes practicality gives you a million dollars lesson than understanding by someone . So last, I would say you did the right thing if they lost their money they would never believe in that type of scheme

[isaac_clarke22]

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.

Just be like the advisor but never force them to put the responsibility into you. People tend to be spoonfed so much that they can't learn or even experience mistakes. Ponzi schemes are quite different though since they would still earn at the end of the day.....just not the ethical way though.

It's not just the high APY, but also the shadiness of the structure of the project like no professionalism or even team background. People might start somewhere else to gain fame, but at least give it some effort to show your credibility.

[Sandra_hakeem]

First of all... Lemme start with the word, elope. If I'm correct, then elope means running away secretly with a partner - and the sole aim is getting married to themselves....so what's really the point you made when you said this,?!.

[...] 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.

again, it's not the best option you would have chosen - I believe information is key; anyone can do alot positively or otherwise with it.. do you then allow Thier faith to be soiled in those scammy mindsets?? And then you call it "making them learn the hard way?" Don't you know it's almost impossible to make them believe you whenever you're set to tell them the truth?? ...

Sandra 🧑‍🦰

[Agbamoni]

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

[suzanne5223]

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?

Honestly, your decision is the right plan.
Firstly, this person is your brother and I believe you know him more than us.
Secondly, there are some people that won't listen to you in this type of situation because they believe they are making the right decision and the best way to get their attention is after they have made the mistake.

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 ?

Yes, I have been in contact with people who invested in the Ponzi scheme and they don't always listen to advice given to them because the cool easy reward of the Ponzi scheme always blinds them from the fact until they lose their investment.

[passwordnow]

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

If advising them won't help, they are not going to listen to anything that he's going to say. They're still in the sensation and belief that they're doing the right thing and only a snap of a finger is what they need to experience for them to learn. He doesn't want them to experience being scammed and learning the hard way but if that's what it takes for them to understand his point and what he wants to make them understand, even he don't want to has to happen.

[letteredhub]

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

I get it you are implicitly saying I should tactically play the big brother role not to allow him fell the burns from the fire directly. If you check through my op you would read where I said to them that what they've invested their money in is a Ponzi scheme and could land them into loss eventually, buy that being said I didn't see them picking interest in what I said to them. Maybe a part of me really didn't want to get into an argument with them  to avoid getting to have issues with a sibling, so expediently when he learns it the hard way he may come around all by himself.

[michellee]

You've done the right thing by explaining a Ponzi scheme. But it seems your junior siblings and a friend don't understand it well because they don't discuss more about what Ponzi is. If they are interested in knowing more, they will ask you so they can understand better. I was once in a position like yours but unfortunately, it turned into an unfinished debate and in the end, I gave in and left everything to them.

Most people will close their eyes and ears when someone tells the truth about something and trust what they have found and done. And that's normal to happen to junior siblings and a friend. But when things go bad and the sibling and friend experience a loss, then they start to realize it and maybe they will ask you.

So maybe you can accompany them and see what they do. Until they see what they will get and hopefully, they can really make a profit. If they make a profit, you can advise them to immediately leave the program and move on by investing only in Bitcoin.

[pawanjain]

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.

Just when you started explaining the scheme I kinda knew about the ponzi scheme and got an idea where they would have got it from.
According to me, you did the right thing but then again it's your sibling and I wouldn't like if my sibling was to encounter a loss which I could have prevented.
So I would suggest you to tell your sibling about what is going to happen if he doesn't withdraw the money out quickly.
You can show him many such schemes which scammed previously, the most famous one - Bitconnect.
Don't tell him about bitcoin yet but at least prevent him from the scam that is about to happen.
Once he has got his money out or if he got scammed then wait for the right time to gain his trust and only then let him know about bitcoin.

[Pingrapole]

The day I first came to know about this I thought it was a fraudulent cycle and a completely misguided means of manipulation and a scheme at best to deceive people.They make people gain trust in a few steps first they give profit then they motivate people more and when their goal is achieved they stop the whole system, but We are so stupid that we get greedy and look for ways to earn money very easily In fact, very greedy people who want to become big people very quickly and do not like to do any work and want to go on and on will be more involved and involved in these activities, and they are now victims of depression and danger.Have been and living in misery I have personally banned many after hearing that it is a complete False scam, but they keep telling me I am wrong they are right at the end of the day I am right they are the beep Their target was not educated people they were targeted people with little knowledge so that they can brainwash them and achieve their goals they created different platforms How did they earn the trust that people sold their everything and invested there money You tell them that it will be impossible to change their minds because they have been made so that no one can convince them that what they think is right.Because of these scams, it is natural that people will be afraid to invest money in the right place in the coming days, so action should be taken against them.
Although the question is not mine, but I would like to say that everyone's comments have been very nice.

[HONDACD125]

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.

There are many schemes these days that lure people with good returns and later run away with their money. The mechanism of these schemes is such that they give good returns to early adopters but later adopters lose all their money. The maximum profit in such a scheme is given on referring other people due to which everyone tries to attract their relatives and friends to invest in these Ponzi schemes. Thus, many people are brought into such schemes. In recent days, a scheme was running in the name of MTFE, which has escaped with a large capital of people. Many of my friends had invested in it and asked me to invest too, but since I don't believe in such schemes, I asked them to withdraw their investment as well , but they didn't believe me, because the mechanism of these schemes is such that people easily fall into their trap. They do not understand anyone's explanation, unless they have been deceived. You did a great job telling your brother and his friend about the Ponzi scheme. Most of the people in these matters are not ready to listen against these schemes because they only see profit.

[Bobrox]

You are in the right thing how to explain with your friend about ponzi scheme, without seeing mature of reward percentage in daily day but giving return 10% each person success joined trough link promotion have know that are ponzi scheme. Its not easily how to make people understand well beside upline of ponzi scheme more smartest when asking the other for joining their ponzi business.

But you done with your kindness how to make many people realize when participating in scheme business. There are not running for longer time and beside many scheme ponzi with few percent return in daily day I sure not get back our capital and on the middle way ponzi scheme will close their website and can't withdrawing yet again.

[Roseline492]

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.

Yeah that's exactly how it works, I have heard of so many platforms like that, I was a victim of a similar platform called mmm, then i had no knowledge about Ponzi scheme, I was introduced by my friend to join but although I was skeptical about it but he convinced me so I believe him based on the fact that I have seen him withdraw a lot of funds from there so i decided to give it a try, so i invested and unfortunately in the next three days I was told that the system has crashed so I learnt my lesson from there.

Those Ponzi scheme normally use a strategies that draws people to them were as they pay you double of your investment after two or three days, so when someone collected two or three times they will go and inform others to come and invest so when the system accumulated enough funds they close it and runway. People should just be very careful and stay away from those Ponzi scheme.

[Mr.suevie]

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

If advising them won't help, they are not going to listen to anything that he's going to say. They're still in the sensation and belief that they're doing the right thing and only a snap of a finger is what they need to experience for them to learn. He doesn't want them to experience being scammed and learning the hard way but if that's what it takes for them to understand his point and what he wants to make them understand, even he don't want to has to happen.

If there is one thing it is that many people in the world today do need to learn from their mistake as no amount of advice that would be given to them can actually make them learn and that's why I believe some people are meant to be left for them to actually experience what you are trying to prevent them from falling into because thats the only possible way to actually get them to concur to your advice.

[Nwada001]

December is fast approaching, and scammers are already setting up their plans on how to use other people's money for the Christmas celebration, and this kind of ponzi is not different from one of them. And if you ask your cousins very well, they can't even point to a thing that the company is using their money for, which doubled the money, which in turn will now give them enough to pay back investors with profit.
 
One thing I usually ask people who I see rushing to Ponzi scheme money-doubling kind of things is, What do you think these people are going to use this money for? If they use it for trading, there is no guarantee that they will be profiting every time, and as such, investors money is likely to sink. If it's for betting, the chances are 50/50, so there is no good way for me to look at it and figure out a possibility of it working.
 
Since your people have already invested before you got the information, you could have really advised them and told them to pray they get their money back, and if they luckily get it back, then they should stop reinvesting. Sometimes it's good for us to educate people even when we think they will not listen. Trying won't cost us anything, but those people losing their money will cost them a lot. Learning the hard way is not for me.

[Agbamoni]

I don't think it's a good idea to let them learn the hard way. As you mentioned, he's your younger sibling, and you have more life experience. You've probably seen different scams like Ponzi schemes before and can recognize them. It's better to advise him and let him know that he could get hurt if he doesn't leave that Telegram channel. Sometimes, they ask for a withdrawal fee before you can take your money out, but we know it's a scam to take even more after you've already invested.

I get it you are implicitly saying I should tactically play the big brother role not to allow him fell the burns from the fire directly. If you check through my op you would read where I said to them that what they've invested their money in is a Ponzi scheme and could land them into loss eventually, buy that being said I didn't see them picking interest in what I said to them. Maybe a part of me really didn't want to get into an argument with them  to avoid getting to have issues with a sibling, so expediently when he learns it the hard way he may come around all by himself.

You know, what I've noticed is that many siblings can be really stubborn. Even when you try to explain that you've been through a similar situation and have experience, they won't listen. Sometimes, they think that your time has passed, and they want to make their own decisions. Or maybe it's because their close friend keeps telling them that they're on the right path, and they're in it together. They believe that if something goes wrong, they'll both face the consequences.

[BochielFF]

after I read all the comments, it seems we all agree, that you have done the right thing. Ponzi schemes really thrive, in fact I once had a painful experience at Bitconnect, I lost a lot of money there, hopefully that will be the last time I deal with Ponzi schemes.