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

[Freeveto]

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.

Believing this is by any gambler means they are greedy and are eager to make money, and these offers are the typical offers that get us in a trap of getting scammed all because of greed. Polymarket is just looking for more ways to make more money; it is a clear Ponzi scheme that has just been introduced into gambling because the chance of making such profit is almost impossible, so we need to be very vigilant and know the risk we take. Our eagerness to make money should not trap us in falling for such a scam.

[_act_]

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.

Believing this is by any gambler means they are greedy and are eager to make money, and these offers are the typical offers that get us in a trap of getting scammed all because of greed. Polymarket is just looking for more ways to make more money; it is a clear Ponzi scheme that has just been introduced into gambling because the chance of making such profit is almost impossible, so we need to be very vigilant and know the risk we take. Our eagerness to make money should not trap us in falling for such a scam.

Do not get that wrong, Polymarket will not say they want to trade or gamble for people. They will only offer people prediction market and nothing that will be more than that.

If you see anyone doing this, it is not Polymarket. This will just be a post from random people on X and and not from Polymarket. And not that they are saying they are from Polymarket.

If they said they are from Polymarket, it is a lie.

And overall, it is a scam.

[Leahized]

After reading this, it is clear that it is completely a scam. I am not focusing on Polymarket, the main point is if this is actually impossible. If it were possible by them, they would never publicly disclose it. Because $30 is not a lot of money, which requires collecting donations from everyone.

However, there are very few traders who are able to make an average of 6% profit every day. Because it is such a signal, which can be said to have no loss. Therefore, one should not fall into such an open trap of greed. But it would be different if all members of the community were trustworthy and familiar.

[Mahiyammahi]

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.

Previously, the same kind of thing happened with the OTC coin sale. People were buying locked tokens from investors in their private sale/Pre sale token. Then ot leads to a Ponzi-type thing, and in the end it did not go long; it eventually ended up a scam.

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.

To them the person holding this scheme is a very trusted person. First they started a very limited version where they only took couple of member and gave them their full fund with a profit. Now they are trying to put that as evidence and tryig to rause fund like crowdfunfing. No one realising that it could be a disaster.

[Zigabel]

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.

Having been on this forum for some time, i want to believe we will not be falling for things like this, they are obviously a way in which the supposed service providers make money off their customers, leaving the customers at the mercy of luck, hopefully they get lucky, then they will be able to make some supposed profit form it otherwise it is as good as not been real at all. There is no real trader or investor that will guarantee you a 3% - 6% daily profit margin, doing that in Big numbers and you are going to understand how too good to be true that sounds.

The idea is to lure people, they know that when people hear those numbers, they will be triggered to want to give it trial, like you said, they will stop thinkin and been logical, rather their greed will set in and the only thing they will want to hear or see is the possibility around such so they can get in already and start making the said money. So basically they capitalize on the greed of their customers who want to get more by all means, and just to be on the safe side and not enter legal trouble, they placed the disclaimer.

[salad daging]

Profits that can be "too sweet to be true" is not much different from a ponzi scheme where they raise funds the profits will be distributed, the more you join the greater the potential for scam exits.

I believe or users who make this fundraising using bots in Polymarket trading, such as profits that have been guaranteed to continue to profit, this is a trick they do, while the disclaimer "money can be lost at any time" they want to avoid the demands of his followers if it does not match expectations or experience losses from the trade.

[Davidvictorson]

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.

This is already a scam. Even if they have any testimonial, it is still a scam. Unfortunately, many people will fall for it and will finally realize it is a scam.

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.

It reminded me of those crypto mining companies many years ago...

[MisFoxie]

I don't understand why people would join this offer will greed blind them so much that they won't even notice the basic things? If they make a profit for example $500, after taking $30 from each user they can return their $30 to the users and keep the remaining money for themselves they can say that after putting $30 aside the rest was lost.

Basically they will bet on your behalf using your own money. When there is a loss that loss will come out of your pocket but when there is a profit, they will return your initial fund and keep all the remaining profit for themselves.

[Dr.Bitcoin_Strange]

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.

The red flag is clearly visible here, assuring someone of daily 6% profit from a risky activity like betting on polymarket is a big scam, this thing has happened before but it was about sports betting, the initiator of that idea promised participants a fixed weekly return of any amount they decide to start with and surprisingly I saw people subscribing to his group, I didn't know who added me to that group but I just found myself there and I left since I was not interested in that kind of scam. Personally, I used to think that it was possible to make 2% profit daily in crypto trading but I have tried it several times and I keep losing at some point, so it's not true that one can make 6% profit daily in any activity that has a large risk of losing. I'd advice people to stay away from such scam.

[Yablee0]

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.

There are some things we don't need to be advice before doing what's right, on our own accord we are supposed to know what to do at every point in time.  Perhaps, that's why there is common sense to help us avoid some of this minor scam. However,  the rule made it pretty clear that once the offer look too good in the eyes then their is more to it that is yet to be unveiled.

Furthermore, most of the strategies that scammer's used in scamming people are not that new as we think, many people has been so familiar with it that they would have avoided it if they really want to. But greed wouldn't let them think from their heads.

[Emjay24]

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.

This is the only point that is true in all their write-up and truly the money will be lost. Greedy people would still patronize them, after all the world isn't yet rid of desperate people.

Every new innovation would have its own share of scammers existence. Casinos have shady ones and scammers who share games that are only available in scam casinos, I'm not surprised Polymarket scam is developing .

The scammer laid a nice trap by bringing the deposit low to attract many greedy people, and will it succeed? I bet we all know the answer

[Bitcoin Smith]

People trading on polymarket? I guess this is enough to conclude that this is just a blatant attempt to scam some money.

And if they ever provided any claims like they can give 6% returns or whatever they said then it might attract DT action too because this will likely get some users' attention unless it is stopped before it happens.

[mak013]

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.

I don't trust anyone who asks me for money with a promise to make me rich. That's what this looks like. The problem is that they aren't risking their own money - maybe they put in a small amount, but most of the profit comes from the "investors."
They have no downside, so they don't care about your money. The only prediction group I ever made a profit with was one where the owner bet his own money and we paid him a share of the profits. He had skin in the game and risked his own money. I don't see anything like that here.

[9ja Amaka]

It is a scam many people don't know about. Sooner or later, people will start realizing how they've been scammed this way when they don't get the profit that was promised.

The odds of getting $10k with $30 in gambling are below 3%. Many don't compare the chances; what they are after is the possibility of it happening and not missing out on participating.

[len01]

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.

Well, offers like this are exactly what can brainwash people when they have no real experience. Who wouldn't be tempted by a 300x return with such an easy approach? Of course, inexperienced people will take the offer at face value and contribute their money.

That is why there are so many scams like the one in your story nowadays. People want to get rich quickly and look for easy ways to make money. They don't even consider the various risks involved.

[Floxynice]

The interesting thing is that, even with the disclaimer that money may be lost, gamblers will still be triggered by the amount they expect to win, and show less concern to the risks that is involved. With all of these, people still say polymarket is not a gambling site?

People trading on polymarket? I guess this is enough to conclude that this is just a blatant attempt to scam some money.

And if they ever provided any claims like they can give 6% returns or whatever they said then it might attract DT action too because this will likely get some users' attention unless it is stopped before it happens.

The disclaimer is enough to make anyone think twice before considering it. If people lose their money trying this out, polymarket will not be blamed, those persons who let greed influence their sense of reasoning should have themselves to blame.

[I_Anime]

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.

Folks involving themselves something like this  shows that the they're ready to get scammed or loss their funds . One red flag is that they sounded too certain of the wins , like they can tell the future of the market, by given a certain daily percentage return. If they can actually $30 to $10k why are they now asking for contribution or initiating something like this . They always come with "we are doing this for the community" blablabla. Pains me that many are still going to fall for this , due to the excitement of trying to make quick money within a short period of time using the amount as low as $30 .

[theoddwright]

I didn't do the math, but whenever they are portraying that $30 can be $10,000

I ran the numbers, since nobody has yet.

At 3% a trade, $30 after 150 trades is about $2,500. To actually reach $10,000 in 150 trades you'd need just under 4% every single time. So their own pitch doesn't add up.

The bigger problem is how you make 3% a trade on Polymarket. You buy something priced at 97 cents that pays $1. If that price is fair, it loses about 3 times in 100. Winning 150 of those in a row is 0.97^150, roughly 1%. And with the whole stake rolled over each time, one loss takes everything back to zero.

If it's really 6% a trade, that means buying around 94 cents, and 0.94^150 is about 1 in 10,000.

So the honest version of the offer is a 1% shot at a couple of thousand dollars, and the $30 gone the other 99% of the time. That's before whoever runs it takes their cut.

[SatoPrincess]

This is already a scam. Even if they have any testimonial, it is still a scam. Unfortunately, many people will fall for it and will finally realize it is a scam.

Testimonials whether written or video testimonials are not indicators that a platform is legitimate. AI can do so many things now include deepfake videos. One obvious sign of a scam is that it is usually too good to be true as the reward being offered in a short period is multiple times more than the cost/investment.

[Patikno]

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.

There are many questions about this.

Isn't it very suspicious ? I mean; the promised profits are "too good to be true", and how could the income be so smooth ? I think the model is similar to a Ponzi scheme, which usually offers things that entice potential users.

If the profits were that good, why would he raise funds ? Wouldn't he try his best to enjoy them himself ?

These questions should arouse your skepticism, especially if you are already tempted by such things. Be very careful !