SEC-S17W3- "Let's talk about Ponzi scheme".

Greetings steemians, I believe you'll are doing great, Am super excited to participate in this week contest organize by @hive-181136 on the topic "Let's talk about ponzi schemes"

Have you ever heard about ponzi schemes?

Yes I have heard of ponzi schemes and I have been scammed too before I share by story we need to know what is ponzi schemes.

Ponzi schemes is a fraudulent programme that pays it's actual investors with the money received/collected from new investors to create the mindset of a larger profit
Ponzi schemes promises those that invested a return with high rate to the investors with No or little risk.

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Have you been offered to invest in any of these schemes?

Yes I have invested in several platforms and the one that hurt me most was the recent one I join that it wasn't looking like scam they made everything look legit with No trace of fraudulent activities.

Let me tell you how I fell a victim again last month,normally I have stop investing in platforms for money I rather do physical work and get paid than to invest, so on these faithful day one of my relatives seat me down to introduce me to this platform that it's paying and she has withdraw money several times from the platform, I told her that am not interested but she didn't give up because she wanted me to benefit from the good work they claim they are giving.

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Picture are screenshot from my screen recorded video I did before the site crashed

This platform is called OMD company base in abroad but they have their branch like a sister company in Nigeria, the site is all about liking videos, people pay the company to promote their video while our task there is to invest which is called upgrade then we start liking the video of those influential people be it YouTube, Facebook, TikTok video etc...

In the site we have VIP 1- VIP 6

VIP 1	VIP 2	VIP 3	VIP 4
Invest #10,000 to like 4videos per day to earn #400	invest #25,000to like 8v per day to earn #1000	Invest #75,000 to like 20v per day to earn#3000	Invest #240,000to like 40v per day to earn #10000

Each level increases with investing a big amount of money to earn a suitable reward, I invest in VIP 2 from the beginning, then I was earning 1k in my wallet which I can't withdraw until I was so greedy I felt like upgrading to VIP 3(75k) which I did then I started earning 3k per day and their days of withdrawal was every Wednesday and each withdraw they remove 10% from your withdrawal.

In the wallet you can only withdraw #400, #4,000, #12,000 #40,000 #80,000 and #400,000 and I only withdraw #4,000 before the site crash... The story is too long but it was a painful experience, I cried because I lost #100k that's about 261 steem currently, My regret was that I saw all the red flags but ignore because of greediness which I later lost everything.

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Do you know how to detect Ponzi schemes?

Yes with my recent experience I can detect ponzi schemes

• There's always referral link where you refer people to earn money.

• You can't contact them on calls rather just chatting(message) No video calls scam zone run.

• You pay your investment into a private account Not a company account Scam.

• You will be pressured to upgrade to a higher amount and once you upgrade the site will crashed.

There are some many red flags you can easily detect in ponzi schemes.

Do you think Steemit is a ponzi scheme?

Capital later No, steemit is not a ponzi schemes and can never be a ponzi schemes.
Steemit is a platform whereby both the author and curator earn a reward called steem for posting quality and original content free from plagiarism..

Thanks for reading my article I will like to invite @josepha @seancyril and @alli001 to participate in this contest.

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