From $30 to $10,000: When Profit Projections Become a Greed Trap

[Mahiyammahi]

Maybe this is the perfect place to write about this, since everyone here is connected to gambling.
I saw an absurd post in a local community of mine, raising funds for Polymarket. They will trade on behalf of the users; the main goal is to trade each day and compound 6%. After 150 trades, it will be more than $10,000 by compounding 3% each day, and 3% withdrawal. So the initial profit is 6% each day.

I didn't do the math, but whenever they are portraying that $30 can be $10,000, I think our brain stops thinking about it and jumps to share their capital.

 I think the post and the numbers are in Bangla. But he has a community where he can at least gather 100 people from it , and the minimum contribution is $30; there is no cap. They will take 30% from total profit. Still I think it is absurd when you can make $10k from ur own money collecting money from the community.

Please be aware of this typer of greedy offer. The platform they will use is Polymarket.


Although they are giving away the disclaimer that this money can be lost, I still think luring someone by giving them the option to explore something that is almost impossible is wrong. They are playing this game by brainwashing people.

[joeperry]

Not just any greedy offer but most likely scam, the first thing we should learn is never ever give money to anyone either through "investment" or any form of transferring your money, once you don't access on it, you already lost it. Second thing, theoretically that compounding could work if you assume that every time you trade is a win, a few consecutive losses could wipe your entire bankroll/wallet.

Lastly, if someone said about trading and they gave you a fix profit monthly or daily, it's an easy no since there's no trader are sure whether they can earn 3% daily in trading.

[Charles-Tim]

Later people will know that it is a scam. But just that some people will know but will not listen. Be it in trading or gambling, people paying for it are the source of the money the scammers are making.

It is not a new scam, but some people will just be foolish.

Not just any greedy offer but most likely scam

It is not most likely it is a scam, it is a scam which is think is more appropriate qualification for it.

[danherbias07]

If it's too good to be true, it's possibly a scam.

If they can really do that, they do not really need to share anything at all. They can fund it themselves and make money to get rich. Now, if they are asking money from other people and just promising to take a share from the profits, it becomes fishy.
I bet they won't even tell their name, where they are from, or how they will get the signals (if that is what they call them, like in trading). Still, we cannot trust this kind of offer because it's obviously something that will vanish in thin air after they take your money.

[SatoPrincess]

Everything about the story screams scam. Anyone who can make that much money by themselves wouldn’t be online asking people to give them $30. Their target are people who can afford to lose $30 and there are lots of people who fall into that category. The money seems small individually but when compounded, the scammers could get away with thousands of dollars.

[tiCeR]

Later people will know that it is a scam. But just that some people will know but will not listen. Be it in trading or gambling, people paying for it are the source of the money the scammers are making.

It is not a new scam, but some people will just be foolish.

Not just any greedy offer but most likely scam

It is not most likely it is a scam, it is a scam which is think is more appropriate qualification for it.

This and actually what they can prove with money, they can prove without money. They just run their generous offer for free, publishing 150 trades they are planning to make as mentioned by OP. They have to publish their calls before the fact and then everyone can see for themselves whether they are able to compound 6% with each trade on average or not. 

I am sure everyone knows the result. They are all free to prove in a hypothetical environment, just announce it, allow everyone to transparently follow it and that's it.

I don't know whether they don't have radios, newpapers, Internet, TV, or any other source of information because by now this scam should be the one with the least success rate as everybody has heard about it a thousand times.

[Hazink]

Although they are giving away the disclaimer that this money can be lost, I still think luring someone by giving them the option to explore something that is almost impossible is wrong. They are playing this game by brainwashing people.

That's a legal protection statement from the person offering the service rather than a warning to the community. They have offered a convincing service with a small minimum entry. Some might doubt the service, but it will be like it's just $30. Let me give it a try and that $30 from a large number of people ends up enriching the person. 

The offer sounds so good as to be true, they made it sound like something that's achievable through whatever pattern they want to deploy, but I still won't fall for that trap. The community should be vigilant even if it's one of their trusted members that drops the offer.

[xenomorfo]

Maybe this is the perfect place to write about this, since everyone here is connected to gambling.
I saw an absurd post in a local community of mine, raising funds for Polymarket. They will trade on behalf of the users; the main goal is to trade each day and compound 6%. After 150 trades, it will be more than $10,000 by compounding 3% each day, and 3% withdrawal. So the initial profit is 6% each day.

I didn't do the math, but whenever they are portraying that $30 can be $10,000, I think our brain stops thinking about it and jumps to share their capital.

 I think the post and the numbers are in Bangla. But he has a community where he can at least gather 100 people from it , and the minimum contribution is $30; there is no cap. They will take 30% from total profit. Still I think it is absurd when you can make $10k from ur own money collecting money from the community.

Please be aware of this typer of greedy offer


Although they are giving away the disclaimer that this money can be lost, I still think luring someone by giving them the option to explore something that is almost impossible is wrong. They are playing this game by brainwashing people.

my grandfather taught me this harsh law, if something is too good to be true it's probably a scam
so if you use this very simple law of old and ancient people you will surely never be wrong since no one gives anything away.

[Luzin]

Everything about the story screams scam. Anyone who can make that much money by themselves wouldn’t be online asking people to give them $30. Their target are people who can afford to lose $30 and there are lots of people who fall into that category. The money seems small individually but when compounded, the scammers could get away with thousands of dollars.

Maybe only a fool and someone who has a lot of money would be willing to invest that much for $10,000. Logically, this situation would take almost 10 years if you profit 5% per month. Maybe, with some luck, one could reach that faster, but luck doesn’t always come. This is ridiculous; there are always scammers trying to harm people who don’t want to work hard to save money. I would not be interested in investing by handing money to a second party. I always think that my money, I execute the investment myself, not someone else.

[Sim_card]

People are too eager to make money from what they don't know just because someone told them a lot of sweet stories about making money from it. These are the kind of persons who easily fall for scam because they're too fast to believe and trust that person or even doubt the person but they will still go ahead to try their luck. This is pure scam and don't be greedy to believe stories that are too good to be true.

[Mahiyammahi]

Lastly, if someone said about trading and they gave you a fix profit monthly or daily, it's an easy no since there's no trader are sure whether they can earn 3% daily in trading.

Sorry I forgot to mentioned that the platform is Polymarket. Not daily 3% but in 150 entry , so it can be either in a day 1 or two maybe in a week or 4 .

It is not most likely it is a scam, it is a scam which is think is more appropriate qualification for it.

The people behind this running is quite trusted on their community. As far as I heard they are providing the profit so far , but I think thi won't last much longer. Since they are not liable for any losses, anything can be happened.

[Zlantann]

Although they are giving away the disclaimer that this money can be lost, I still think luring someone by giving them the option to explore something that is almost impossible is wrong. They are playing this game by brainwashing people.

If there is a disclaimer that their deposits could be lost, then it's fair. At least the operators have given interested people an insight that their profit or even capital can be lost. It would have been a deception if the operators of these suspected fraudulent schemes gave people assurance that they would make the stated profits.

It looks like a fraudulent scheme to me because I have seen such structures collapse and people lose money. Nobody can guarantee wins on these gambling platforms. It would be better to place your contract by yourself instead of relying on untrustworthy middlemen. But greedy and lazy people will always fall for these scams.

[sompitonov]

People are too eager to make money from what they don't know just because someone told them a lot of sweet stories about making money from it. These are the kind of persons who easily fall for scam because they're too fast to believe and trust that person or even doubt the person but they will still go ahead to try their luck. This is pure scam and don't be greedy to believe stories that are too good to be true.

The thing is, people can be overly trusting even blind when they believe someone else can solve their financial problems. They simply refuse to accept what is obvious to most others. Scammers exploit the fact that, in today’s capitalist society, many people are desperate for money and eager to escape a life of poverty. They specifically target individuals promising them earnings through platforms like Polymarket or similar schemes and they show no mercy to anyone. It is high time for adults to realize that the mindset of those who are so gullible believing that someone else will do all the hard work for them, while they simply sit back to collect and spend the profits is, to me, nothing short of ridiculous.

[free-bit.co.in]

You are right if that guy could actually generate that much money by compounding at 6% daily, he wouldn't be out here collecting $30 contribution from people, lol.
He could've just taken out loan or used his own money to become billionaire.
And the platform in question, Polymarket is currently in rather sensitive state. It's been dealing with quite lot of trouble lately, security issue, regulatory pressure and various scam.

Taking advantage of this some cunning scammer have set up fundraising scheme targeting local community. They aiming to easily swindle people out of their money and then vanish.

Just adding any disclaimer doesn't mean you're off the hook, it doesn't work like that! It's pure manipulation. Those who fall into these trap see their hard earned money vanish in no time.

[Rashlyowl]

Maybe this is the perfect place to write about this, since everyone here is connected to gambling.
I saw an absurd post in a local community of mine, raising funds for Polymarket. They will trade on behalf of the users; the main goal is to trade each day and compound 6%. After 150 trades, it will be more than $10,000 by compounding 3% each day, and 3% withdrawal. So the initial profit is 6% each day.

I didn't do the math, but whenever they are portraying that $30 can be $10,000, I think our brain stops thinking about it and jumps to share their capital.

I think the post and the numbers are in Bangla. But he has a community where he can at least gather 100 people from it , and the minimum contribution is $30; there is no cap. They will take 30% from total profit. Still I think it is absurd when you can make $10k from ur own money collecting money from the community.

I used AI to help with the calculations & it turns out that an initial investment of $30, compounded at 3% per day over 150 days, does not result in $10,000. My assumption for a day is based on the number of trades executed (one trade per day, so it will be 150 days).



The result is $2,518.40, that is only 25% less than the $10,000 projection. So, an offer like that should indeed be approached with greater caution, don't be too quick to take the bait.

[Mr. Magkaisa]

That promise is a scam already, There is no assurance in investment and if they can get that profit daily, why you need to gather funds from different people and share the wealth? This is a scheme and definitely at the end those investors will cry in anger. That 30 to 10K is a big gain and that is when people really make their brain stop on functioning with the greed of money its a big bait. Just like other promises to get rich this will have an exit scam.

[Cointxz]

A classic ponzi scheme.

There’s a lot of scam schemes like this using gambling like dice games before to generate “10% profit” that being distributed among investors that contributed to the bankroll. They are claiming they have a system to beat the game and generate unlimited profit.

I’m surprised that there’s still user that avail this kind of scheme even though it’s a straight up scam with the 30% cut on the profit since they can do the bet on their own without a cut.

[fighter2627]

Let's say 30$x100(each person) comes out to be 3000$, Let's say even 10,000$ a day is for me a very obvious scam that scams are being done to them by exploitative people like that
for 100 people at 30$ each.

Those who hype should be aware that the community that is new to the crypto space that we live in here, because if they are not careful,
they will really just be played by scammers like that.

[HelliumZ]

This may be your local gambling site, which is being used to deceive people from Polymarket. Although it will not get a chance to do this internationally because people around the world are now much more aware of these offers. However, those who are overly greedy will accept these offers and will go bankrupt after accepting these offers. Such websites basically work as referrers and collect large funds while referring and at some point they will leave the market forever.

[_act_]

Their target are people who can afford to lose $30 and there are lots of people who fall into that category.

There are some people that have the money in a way that they can gift someone the money, but because they know that it is obviously a scam, they did not go for it.

Also there are people that do not have the money, but know someone that can borrow them and borrow the money and get scammed. I have seen two people that this happened to before.