But why people the still choose Ponzi schemes over bitcoin?

[Frankolala]

U don't have to blame people because leaving bitcoin for bcex.my dear I just checked the price of buying one bitcoin and I discovered that I will need to have about 135,858,002.87NGN to buy just one bitcoin.
I a member of the forum has been anticipating to buy and hold but where can I have that kind amount of money from? The money is too big. I am a member of this forum discussing bitcoin everyday but I don't have bitcoin due to the requirement which is money. As at last year when I want to invest in cryptocurrency, I bought some Altcoins I was not happy and satisfied as I could not buy bitcoin. If I have the money I will buy and hold.

No vex o, why you no buy bitcoin with that money wey you use buy altcoin. The way wey you fit buy altcoin with small money, na the same way you fit also buy bitcoin with small money. You no need buy one full bitcoin because you no get that kind amount of money. Bitcoin investment na for both poor and rich because you fit buy bitcoin with as low as ₦10000 when you get such extra cash. If you continue to dey buy small small like this every time you get the money in four years time, you go shock of how much bitcoin you don accumulate.

[SuperBitMan]

The Economic and Financial Crimes Commission (EFCC) done come out to talk say those people way lose there money for that CBEX digital trading platform say them go get there money back finish say make them no worry.

Them also talk say them done they monitor this CBEX digital trading platform for long time now even before now way people done they complain.

The Securities and Exchange Commission done also come out today to talk say CBEX no they registered for our country.

Watin they make me vex now be say EFCC way say them done they watch them for a very long time now no notice say them no they registered for our country to operate, if na commission way they function well them for done discover say them no they registered for our country and them for done from there stop there operation.
Even The Securities and Exchange Commission why them no inform the publicly before now say this CBEX no they registered for our country so people go dey careful.

And again our country people no they hear word a lot of Ponzi scheme like MMM and others done come scam people go but we still they fall victim, abeg make we they guided from now up ward.

[Spaceman1000$]

Everyone is going rogue. One person has to be the predator while the other the prey, this is how the world works now. Since quick money has been the order of the day, nonchalant individuals will always fall victim for easy scams. Of recent i heard someone saying he don't care if it is ponzi or not he is willing to risk the 10k he has, after all the money won't get him anything useful in this country. A lot of individuals are ready to take risk in life because the country made it so.

What i am concerned about is how the government can make the economy better so people will take good risk instead of destroying their life for taking risk in the something that has not value.

 You're not wrong, bad government is a major pressing issue in Nigeria it's the major reason why people are going rogue cause lots of them are looking for means of survival, if the government was good and the economy stable, I don't think people would be seeing any reason to go into ponzi's just to look for means of survival.

 However let's leave bad government asides, the image above is that of people who gathered at the CBEX office when it crashed, take a look at it you'll see that most of the people there are advanced, which means that many of them have witnessed previous ponzi's like MMM and it's kinds, they're suppose to be sensible enough to learn from past experience, it shows how gullible many Nigerians are cause these ponzi's keep using same strategy and lots of advanced people that's fallen more than once to different ponzi's still fell for this one, the question should be, why don't they learn from experience?.

Some Nigerians have become desperate because of bad economic realities we've found ourselves, people hardly see danger as danger, tell me after we've witness what MMM and rest of the other Ponzi scheme have done to Nigerians yet, they are still courageous enough to put in huge amount of money into quick money making schemes.

The surprising thing about the whole scenario for me is that, these are the same persons that will come on the street and on social media and start telling you that the country is difficult and there is bad economy and yet they have huge amount of money in their private account for such frivolities, Some of the money I hear people are putting in this Ponzi scheme are in six figures.

[Juicyhome]

The Economic and Financial Crimes Commission (EFCC) done come out to talk say those people way lose there money for that CBEX digital trading platform say them go get there money back finish say make them no worry.

Them also talk say them done they monitor this CBEX digital trading platform for long time now even before now way people done they complain.

The Securities and Exchange Commission done also come out today to talk say CBEX no they registered for our country.

Watin they make me vex now be say EFCC way say them done they watch them for a very long time now no notice say them no they registered for our country to operate, if na commission way they function well them for done discover say them no they registered for our country and them for done from there stop there operation.
Even The Securities and Exchange Commission why them no inform the publicly before now say this CBEX no they registered for our country so people go dey careful.

And again our country people no they hear word a lot of Ponzi scheme like MMM and others done come scam people go but we still they fall victim, abeg make we they guided from now up ward.

You dey waste your strength for Efcc, Efcc knw everything about cbex, maybe dem dey settle dem behind na why den allow dem operate if not why Efcc go talk like that, dem knw how many people lost huge money for mmm yet dem still allow Nigerians to fall for another scam again, e show say Efcc no dey compete to fight crime for wey country dem just dey collect bribe they misbehave. This country na really jagajaga. No sector they protect the poor masses, its a pity say we were born in this nonsense country  call Naija.

Beside, our people too no dey hear something even if Efcc warn dem not to invest dem go still invest because them like quick money, dem no get patient to invest in bitcoin wey go really change their lives. So at times e fit dem so dem go learn in hard way. Since dem no wan wise.

[Umulala-alala]

The amount of hardship for we 9ja dey always make people do things way them no supposed do, I no blame the victims sha na the bad government we dey into i dey put blame on.

One thing about this online platform people no dey know say na Ponzi scheme until the site breakdown, and then dey always get this method of making people to put trust in these platform you go see as people to dey talk good about am say the site dey pay and to register no dey dey stressful and u see people investing at end them go loss everything.
I dey think say after watin MMM do people say then go learn to people never learn if no be greedy how on Earth way person go invest 10k today to get 20k tomorrow it doesn't work that way.

[Agbamoni]

Everyone is going rogue. One person has to be the predator while the other the prey, this is how the world works now. Since quick money has been the order of the day, nonchalant individuals will always fall victim for easy scams. Of recent i heard someone saying he don't care if it is ponzi or not he is willing to risk the 10k he has, after all the money won't get him anything useful in this country. A lot of individuals are ready to take risk in life because the country made it so.

What i am concerned about is how the government can make the economy better so people will take good risk instead of destroying their life for taking risk in the something that has not value.

 You're not wrong, bad government is a major pressing issue in Nigeria it's the major reason why people are going rogue cause lots of them are looking for means of survival, if the government was good and the economy stable, I don't think people would be seeing any reason to go into ponzi's just to look for means of survival.

 However let's leave bad government asides, the image above is that of people who gathered at the CBEX office when it crashed, take a look at it you'll see that most of the people there are advanced, which means that many of them have witnessed previous ponzi's like MMM and it's kinds, they're suppose to be sensible enough to learn from past experience, it shows how gullible many Nigerians are cause these ponzi's keep using same strategy and lots of advanced people that's fallen more than once to different ponzi's still fell for this one, the question should be, why don't they learn from experience?.

Is the government responsible for your decision making? It's just like doing something dangerous and you say it is the devil's fault how?
One thing you should know is that the government will do everything to keep the citizens suffering a way because a strong subject will surely day fight against bad leadership. So, every resource, and strength we the subject can use in fighting against the bad government those in position has made it inaccessible to us, while increasing starvation so that many can take bribe and shut up.

Thank you for the image. Most of those persons are those who have heard of how robust the online space is to accommodate and pay people who venture into. Because of that idea they go into things they don't even know about and how it is operated. CBEX was created by another hungry citizen, his aim and objective has been fulfilled.

[Princess Leah]

Everyone is going rogue. One person has to be the predator while the other the prey, this is how the world works now. Since quick money has been the order of the day, nonchalant individuals will always fall victim for easy scams. Of recent i heard someone saying he don't care if it is ponzi or not he is willing to risk the 10k he has, after all the money won't get him anything useful in this country. A lot of individuals are ready to take risk in life because the country made it so.

What i am concerned about is how the government can make the economy better so people will take good risk instead of destroying their life for taking risk in the something that has not value.

You're not wrong, bad government is a major pressing issue in Nigeria it's the major reason why people are going rogue cause lots of them are looking for means of survival, if the government was good and the economy stable, I don't think people would be seeing any reason to go into ponzi's just to look for means of survival.

 However let's leave bad government asides, the image above is that of people who gathered at the CBEX office when it crashed, take a look at it you'll see that most of the people there are advanced, which means that many of them have witnessed previous ponzi's like MMM and it's kinds, they're suppose to be sensible enough to learn from past experience, it shows how gullible many Nigerians are cause these ponzi's keep using same strategy and lots of advanced people that's fallen more than once to different ponzi's still fell for this one, the question should be, why don't they learn from experience?.

Is the government responsible for your decision making? It's just like doing something dangerous and you say it is the devil's fault how?
One thing you should know is that the government will do everything to keep the citizens suffering a way because a strong subject will surely day fight against bad leadership. So, every resource, and strength we the subject can use in fighting against the bad government those in position has made it inaccessible to us, while increasing starvation so that many can take bribe and shut up.

You've indirectly answered your question, yes a bad government can lead to poor decision making by some citizens even though greed plays a role too, when a government fails it's citizens by making it's economy hard and unbearable thereby causing hunger and starvation, it would lead the citizens to find solutions for survival and as humans prone to error, some citizens would definitely make the wrong decisions while seeking solutions.

 With thar being said, the government isn't directly responsible for their decision making but indirectly they contributed to it, cause if they had played their role well, some people out of ignorance won't thread the path of ponzi for survival, not everyone who involve in ponzi are greedy some were forced to thread that path due to bad economy and they needed to survive, anyways they've learnt their lesson in one way or the other.

[Agbamoni]

Everyone is going rogue. One person has to be the predator while the other the prey, this is how the world works now. Since quick money has been the order of the day, nonchalant individuals will always fall victim for easy scams. Of recent i heard someone saying he don't care if it is ponzi or not he is willing to risk the 10k he has, after all the money won't get him anything useful in this country. A lot of individuals are ready to take risk in life because the country made it so.

What i am concerned about is how the government can make the economy better so people will take good risk instead of destroying their life for taking risk in the something that has not value.

You're not wrong, bad government is a major pressing issue in Nigeria it's the major reason why people are going rogue cause lots of them are looking for means of survival, if the government was good and the economy stable, I don't think people would be seeing any reason to go into ponzi's just to look for means of survival.

 However let's leave bad government asides, the image above is that of people who gathered at the CBEX office when it crashed, take a look at it you'll see that most of the people there are advanced, which means that many of them have witnessed previous ponzi's like MMM and it's kinds, they're suppose to be sensible enough to learn from past experience, it shows how gullible many Nigerians are cause these ponzi's keep using same strategy and lots of advanced people that's fallen more than once to different ponzi's still fell for this one, the question should be, why don't they learn from experience?.

Is the government responsible for your decision making? It's just like doing something dangerous and you say it is the devil's fault how?
One thing you should know is that the government will do everything to keep the citizens suffering a way because a strong subject will surely day fight against bad leadership. So, every resource, and strength we the subject can use in fighting against the bad government those in position has made it inaccessible to us, while increasing starvation so that many can take bribe and shut up.

You've indirectly answered your question, yes a bad government can lead to poor decision making by some citizens even though greed plays a role too, when a government fails it's citizens by making it's economy hard and unbearable thereby causing hunger and starvation, it would lead the citizens to find solutions for survival and as humans prone to error, some citizens would definitely make the wrong decisions while seeking solutions.

With thar being said, the government isn't directly responsible for their decision making but indirectly they contributed to it, cause if they had played their role well, some people out of ignorance won't thread the path of ponzi for survival, not everyone who involve in ponzi are greedy some were forced to thread that path due to bad economy and they needed to survive, anyways they've learnt their lesson in one way or the other.

You seem not to be understanding my point completely. I stand against making impulsive decision due to bad government. On the contrary i expect that every citizen should be smarter in how they use their finances, so they don't lose it in this difficult time. There is no free money anywhere in the world, its either you work for your money, steal from others or you cheat someone. If you still think something good can come out from all of this investment companies, then go ahead.

My friend humans need is insatiable, even if the government have played their role people will still go ahead to participate in ponzi schemes. I seem you are forgetting how greedy humans can be.

[Princess Leah]

Everyone is going rogue. One person has to be the predator while the other the prey, this is how the world works now. Since quick money has been the order of the day, nonchalant individuals will always fall victim for easy scams. Of recent i heard someone saying he don't care if it is ponzi or not he is willing to risk the 10k he has, after all the money won't get him anything useful in this country. A lot of individuals are ready to take risk in life because the country made it so.

What i am concerned about is how the government can make the economy better so people will take good risk instead of destroying their life for taking risk in the something that has not value.

You're not wrong, bad government is a major pressing issue in Nigeria it's the major reason why people are going rogue cause lots of them are looking for means of survival, if the government was good and the economy stable, I don't think people would be seeing any reason to go into ponzi's just to look for means of survival.

 However let's leave bad government asides, the image above is that of people who gathered at the CBEX office when it crashed, take a look at it you'll see that most of the people there are advanced, which means that many of them have witnessed previous ponzi's like MMM and it's kinds, they're suppose to be sensible enough to learn from past experience, it shows how gullible many Nigerians are cause these ponzi's keep using same strategy and lots of advanced people that's fallen more than once to different ponzi's still fell for this one, the question should be, why don't they learn from experience?.

Is the government responsible for your decision making? It's just like doing something dangerous and you say it is the devil's fault how?
One thing you should know is that the government will do everything to keep the citizens suffering a way because a strong subject will surely day fight against bad leadership. So, every resource, and strength we the subject can use in fighting against the bad government those in position has made it inaccessible to us, while increasing starvation so that many can take bribe and shut up.

You've indirectly answered your question, yes a bad government can lead to poor decision making by some citizens even though greed plays a role too, when a government fails it's citizens by making it's economy hard and unbearable thereby causing hunger and starvation, it would lead the citizens to find solutions for survival and as humans prone to error, some citizens would definitely make the wrong decisions while seeking solutions.

With thar being said, the government isn't directly responsible for their decision making but indirectly they contributed to it, cause if they had played their role well, some people out of ignorance won't thread the path of ponzi for survival, not everyone who involve in ponzi are greedy some were forced to thread that path due to bad economy and they needed to survive, anyways they've learnt their lesson in one way or the other.

You seem not to be understanding my point completely. I stand against making impulsive decision due to bad government. On the contrary i expect that every citizen should be smarter in how they use their finances, so they don't lose it in this difficult time. There is no free money anywhere in the world, its either you work for your money, steal from others or you cheat someone. If you still think something good can come out from all of this investment companies, then go ahead.

My friend humans need is insatiable, even if the government have played their role people will still go ahead to participate in ponzi schemes. I seem you are forgetting how greedy humans can be.

That's where you're mistaking dear, everyone can't be smart, everyone can't overcome greed and everyone can't be like you that's wise enough not to make silly financial decisions, I'm not trying to say bad government is the major reason why some of our citizens still decided to go into CBEX ponzi but it played a role too, like I said before, our economy is bad due to bad government and some people are so desperate for survival regardless of whether they're making the wrong decisions, so try and understand my point dear.

 On the contrary if the government had played their role, majority won't involve themselves in ponzi, have you come across clips on the media concerning people who stummed the CBEX office to retrieve their money, did you see the crowd? I don't think that crowd would've been much if the government is playing their role well, I'm fully aware that the human need is insatiable but currently people are suffering due to poor economy and most would make wrong decisions just to survive so try acknowledge that.

[Regardme]

I see this news on Friday about CBEX when people come the talk say the platform done crash and people done lose all their money them invest inside. For those way no know waythin be CBEX, it stands for China Beijing Equity Exchange. According to them say nah digital asset trading platform way you fit dey trade. But plenty experts done the warn say the platform gets all the look-alike of a Ponzi scheme just as MMM was. Now since Friday 11th April Investor never fit withdraw their money and the platform the drop message say nah till 15th April them fit the do withdrawal. Somebody now the cry say him no fit withdraw him $60,000 him put inside and many others too.

Even the way the world done they now with information at the palm of the hand with just a click to the internet people still no the want feat differentiate between real and fake assets and platforms. Since I know about bitcoin I never hear this shitty stories but people for we Nigeria no want to they exercise patience to invest inside bitcoin where their money no go get scammed. Normally we know say when Ponzi scheme wan crash na this type of excuses them the start with to control the fears and carnage the information of a sudden crash feat cause their foolish victims and also for the scammers to get ample time to clean any traces.

My people make sure to avoid Ponzi scheme no matter the means or channel it takes come Ponzi na Ponzi and it go bite you last last.
https://x.com/MobilePunch/status/1910693893365989881?t=bWy5xcEGXCMJxVeuSuVikA&s=19

The rate at which scamming and fraudulent activities are increasing in the country is becoming alarming. Most times, I feel the government has a major role to play which they aren’t doing at all. Due to the bad governance in Nigeria, most persons just want where they can double the little money they’ve got at the moment. And again, it’s sad seeing that people still fall victim to Ponzi schemes. I could remember years back when I became a victims to Ponzi scheme because I was attracted to high returns! In all, I feel that most people are carried away by high returns on investment, forgetting the risk that comes with it.

[Charles-Tim]

Justice Emeka Nwite of them Federal High Court in Abuja has approved the request of the Economic and Financial Crimes Commission to arrest and detain six CBEX promoters.

These are their names: Adefowora Olanipekun, Adefowora Oluwanisola, Emmanuel Uko, Seyi Oloyede, Avwerosuo Otorudo, and Chukwuebuka Ehirim.

https://punchng.com/court-okays-arrest-detention-of-six-cbex-promoters/

They are promoters but they will make money from it. I do not think the people behind the ponzi scheme are Nigerians. I may be wrong.

[Charles-Tim]

Four people declared wanted over CBEX fraud. They are Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun.

Yìí can read the news from here: https://punchng.com/efcc-declares-four-wanted-over-cbex-crypto-fraud

[IjawMan]

U don't have to blame people because leaving bitcoin for bcex.my dear I just checked the price of buying one bitcoin and I discovered that I will need to have about 135,858,002.87NGN to buy just one bitcoin.
I a member of the forum has been anticipating to buy and hold but where can I have that kind amount of money from? The money is too big. I am a member of this forum discussing bitcoin everyday but I don't have bitcoin due to the requirement which is money. As at last year when I want to invest in cryptocurrency, I bought some Altcoins I was not happy and satisfied as I could not buy bitcoin. If I have the money I will buy and hold.

Bros your shame the shame me for this talk right now. Upon as you done stay for this forum long before I enter no be me suppose the telly you say you no need wait until you get all the money in the world before you can own bitcoin.

You mustn't buy 1bitcoin before you start holding it, na why according to where I read am them say bitcoin deh divisible. That means you feat buy am in bits known as Satoshi and the stack am small small with DCA.

No go follow Ponzi scheme or shitcoin oh. Use you head.p

[IjawMan]

Four people declared wanted over CBEX fraud. They are Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun.

Yìí can read the news from here: https://punchng.com/efcc-declares-four-wanted-over-cbex-crypto-fraud

This na similar news I hear from radio evening news broadcast today. But the thing be say EFCC done also make am known to the victims say them no the assure them of 100% recovery of their funds even as it be say them the pursue this case to the end making sure say them catch these wanted listed persons.

Na the problem with Ponzi scheme be that, once your money done go e done go be that,  forget about it. With time this matter go just die natural death like MMM own.

[Lida93]

The amount of hardship for we 9ja dey always make people do things way them no supposed do, I no blame the victims sha na the bad government we dey into i dey put blame on.

Hardship you say! I don't entirely blame the resolve of people in Nigeria to put their money into ponzi scheme as a consequence of the hardship we're facing in the country. From what I learnt, many of those people involved in the ponzi scheme got in with millions of Naira for a start. Now tell me, how many Nigerians in hardship can afford to have millions in their account, not to talk of having to pull it all into a ponzi scheme just like that.

It's partly a thing of greed, lack of knowledge, impatience towards the right investment assets like bitcoin, real estate, gold and other  great stocks. These legit assets takes much time to give profit unlike the ponzi which promises fast returns. Humans are just greedy and impatient.

[Princess Leah]

Four people declared wanted over CBEX fraud. They are Seyi Oloyede, Emmanuel Uko, Adefowora Oluwanisola, and Adefowora Abiodun Olaonipekun.

Yìí can read the news from here: https://punchng.com/efcc-declares-four-wanted-over-cbex-crypto-fraud

This na similar news I hear from radio evening news broadcast today. But the thing be say EFCC done also make am known to the victims say them no the assure them of 100% recovery of their funds even as it be say them the pursue this case to the end making sure say them catch these wanted listed persons.

Na the problem with Ponzi scheme be that, once your money done go e done go be that,  forget about it. With time this matter go just die natural death like MMM own.

My dear that one na super story wey EFCC dey talk, organisation wey dey incompetent no fit give me this kind news make I believe them, I stop to they believe EFCC after the case of Yahaya Bello and other politicians wey loot money wey dem no fit hold responsible, that's why I no fit ever take anything dem talk seriously, especially if eh relate to matter like this.

 Shey CBEX done come back into operation, why them never go arrest any of their official staff till now or force them to pay off wetin them dey owe previous customers cause from wetin i understand, since CBEX begin operation again, them never pay a dime to any old customer abi victim, yet people wey claim say them go help recover the money never do nothing.

[Tungbulu]

U don't have to blame people because leaving bitcoin for bcex.my dear I just checked the price of buying one bitcoin and I discovered that I will need to have about 135,858,002.87NGN to buy just one bitcoin.
I a member of the forum has been anticipating to buy and hold but where can I have that kind amount of money from? The money is too big. I am a member of this forum discussing bitcoin everyday but I don't have bitcoin due to the requirement which is money. As at last year when I want to invest in cryptocurrency, I bought some Altcoins I was not happy and satisfied as I could not buy bitcoin. If I have the money I will buy and hold.

No vex o, why you no buy bitcoin with that money wey you use buy altcoin. The way wey you fit buy altcoin with small money, na the same way you fit also buy bitcoin with small money. You no need buy one full bitcoin because you no get that kind amount of money. Bitcoin investment na for both poor and rich because you fit buy bitcoin with as low as ₦10000 when you get such extra cash. If you continue to dey buy small small like this every time you get the money in four years time, you go shock of how much bitcoin you don accumulate.

Till tomorrow, na this thing make plenty people dey miss out of several opportunities to buy Bitcoin. When them see the current price of bitcoin, come still reason the way the coin dey run, fear go grip them, say e don too late for them to invest in bitcoin and even if them start now, them no go fit catch up again. But them no know say Bitcoin no really dey like that. Just as you talk earlier, no matter the small capital person get, e fit still invest for Bitcoin.

Although wetin dey mostly dey make people dey get this kyn misconception na mostly because them dey fyn easy and quick profit, make them just invest now now, then start to dey see profits asap, and na why them dey mostly go for shitcoins because them dey mostly promise huge profits, but wetin them also fail to realize na say e be like another Ponzi scheme too.

[Africolo]

Our country don scatter be that oh. Tell me the Nigerian wey wan slow down do legit if not looking around to pin themselves on making fast money. I know say e no easy at all but them go still try to make am. I know say na greedy people full for the sector of Ponzi schemes. Them wan just get am clear and pack everything, them forget say things don hard for the country. You must work extremely hard to feed oneself in this country, na there we found ourselves.

Bitcoin sef still de game. If we no learn am well, the kind loss wey person go make ehnn go too much. We know say most of our losses de hard enough to bear, for me I no go fit endure huge loss oh, na why I dey de very careful.

[$weetne$$]

Our country don scatter be that oh. Tell me the Nigerian wey wan slow down do legit if not looking around to pin themselves on making fast money. I know say e no easy at all but them go still try to make am. I know say na greedy people full for the sector of Ponzi schemes. Them wan just get am clear and pack everything, them forget say things don hard for the country. You must work extremely hard to feed oneself in this country, na there we found ourselves.

I heard Cbex is back in town and requesting the previous membership to pay some money before they will be allow to withdraw. If anyone was affected here please do not do it because is the last trick form a scammer to take more more money from you knowing that you will be willing to do anything to get back your money and they will continue to do this in a way to extra more money from you. Other tricks can be introduced in the future therefore you should be watching out for any new tricks and get familiar with it. You have lost the money that was with them because they are scammers therefore do not bare false hope of recovering your money. People love ponzi schemes because it is easy money that they did not have to do anything for.