Hello @everyone, I am excited to take part in this contest titled "Let's talk about Ponzi scheme"
Have you ever heard about Ponzi schemes?
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Yes, I have heard about "Ponzi Schemes". It is an investment that looks attractive to people based on the return that is promised to be paid to investors. In a nutshell, the Ponzi scheme is simply the type of investment scam that deceives investors or promises to pay to invest the potential amount of returns.
In a Ponzi scheme, late investors are usually at risk because the money is what is used to pay early investors. Every Ponzi scheme has the strategy of defrauding people of their earned money which if you are an early investor you might be lucky to be paid, for you to reinvest and as well bring your friends into the business.
A Ponzi scheme is a pure scam business that only favors early investors. Well, it's not all early investors that make It from the Ponzi scheme.
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When it comes to investing in a Ponzi scheme one needs to be very careful, as they can be so deceiveful telling you to double your investment for greater return which when you do, that is the end of your money. In Nigeria, MMM is the biggest Ponzi scheme we have experienced which we will discuss later.
Have you been offered to invest in any of these schemes?
Yes, I have been offered to invest in a Ponzi scheme before. I have received an offer to invest in many different Ponzi schemes before which I declined because I have been a victim of a Ponzi scheme investment before.
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One of the Ponzi schemes that I will not forget so easily is Mavrodi Mondial Moneybox (MMM) one of the biggest Ponzi schemes that duped many Nigerians of their hard-earned money and ran away.
Do you know how to detect Ponzi schemes?
Yes, I know how to detect Ponzi schemes. Detecting a Ponzi Schemes is very easy as a Ponzi scheme usually emphasizes the following which are easy for me to detect.
- When they promise you high returns on investment.
- Overly consistent returns
- Unregistered investments
- No clear roadmap
- No existence of a founder
- When you begin to get pressure to invest
- The need for more investors
Do you think Steemit is a Ponzi scheme?
No, I don't in any way think Steemit is a Ponzi scheme. A Ponzi scheme doesn't last for more than 6 months or a year but Steemit has lasted for more than 8 years which is still growing stronger. Steemit has never in any way deceived or begged people to invest in the platform.
Steemit is not a Ponzi scheme for so many reasons. Here on Steemit investing is by choice which isn't something one has to do before withdrawing his or her money. Indeed steemit is a helping hand #helpingwithsteem and a platform for bettering the lives of millions of people for free. Steemit is an online world on its own.
I am inviting: @dove11, @lhorgic, @patjewell, and @ruthjoe
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
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Greetings dear friend, lt is my delight to go through your post. It was one of the best thing done by me this evening.
Ponzi scheme is a fraudulent investment activities that is rampantly seen all round the globe. From your write up, l can see your are so lucky, not falling into their trapped but unfortunately, but So many people have a victim of this, several Times.
Steemit is a legit business that far from Ponzi scheme, l wish you success in this contest.
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Thanks for stopping by.
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