Hello everyone,
Am back, am very sorry i couldn't finish up with my points on my last post, but i promise to do so very soon. Just decided to drop this quicky.
What is a ponzi shceme?
I think i know the answer to that but before reveling the answer i would love you guys to enjoy this story with me.
Once upon a time, there live a very brainy businessman he decided to travel to a strange land to do business. When got to a particular village he saw that the people there were very hard working but greedy, so he planned to have a business with them with the intention of making a huge profit. He did his findings and discovered that they have a lot of monkeys in the village but of no use to the villagers.
So on a certain afternoon he called all the villagers to his attention and told them that he wants to buy many live monkeys and he would buy each for $50, the villagers saw this as an opportunity to become rich they all started hunting for live monkey and the businessman was buying until he bought all the monkeys in the village. When he realized he had bought all the monkeys in the village, he now send for his friend to come and stay in a nearby village where he was. After he had confirmed the arrival of his friend, he gave all the monkeys to his friend and now told the villagers that if anyone could get him monkeys he is ready to buy for $150 each whereas he has told his friend already to sell to them at $100 each. The villagers went to buy the monkeys and sold all to him at $150 each. He now told them again that if anyone could bring a monkey we would buy for $500 and he as told his friend to sell to them for $400 each. The villagers bought all the monkeys again and sold all to the man. Now the man called the villagers again and said if you can get me monkeys I would buy for $5000 each. All the villagers ran back to his friend which they never knew they are friends and the villagers bought all the monkeys again from the business man's friend at the rate of $4000 and went back to the businessman to sell, but something weird happened....... The businessman said he doesn't need monkeys anymore that he realized he has more than enough monkeys...
I guess the story answers the above question.
Now my questions goes thus......
Who gained in the business?
Who loss in the business?
If the total monkey is 1million what is the total profit in the business?
I really love this story I cooked up but am sure you would love it more. If you do please kindly upvote resteem and follow
Thank you all.
Kind of feels like the only one gaining is the friend.
According to my calculations the villagers had a net loss of -3800*n (n = number of monkeys)
I'm not sure if you intended on counting the businessman and the friend as one entity because I did, between the two of them my calculations gave me a net gain of 4500*n.
Is this correct?
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i really get your piont!!!
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Thanks. Hoping to hear from you soon ma'am.
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Sorry for the delay ma'am kindly check my new post for the answers thanks.
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