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Topic: Avoid Ponzi/Ponzi scheme is a scam (Read 435 times)

hero member
Activity: 2142
Merit: 670
Hire Bitcointalk Camp. Manager @ r7promotions.com
May 11, 2023, 04:34:58 PM
#50
Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website.
Ponzi schemes are nothing new in the cryptocurrency world. In fact, it turns out that there are many projects or parties that intentionally grow up ponzi schemes for certain interests in order to benefit from the effects of the ponzi scheme. That is, a project will rise to hype, there will be big FOMO carried out by various parties, so usually the developers or certain parties will really get the benefits from this increase. However, they will not care about their fate after a drastic rise and then a drop again. since the cycle is over, they will no longer care. This is why ponzi schemes are included in the criteria for scams because most of them scam victims who usually don't really understand.
legendary
Activity: 2268
Merit: 1655
To the Moon
May 11, 2023, 04:25:28 PM
#49
Greed and the desire to make profits without hard work have led some to believe ponzi schemes will guarantee returns as promised. They forget that it is an investment that has been set up in such a way that in the end it will only take away all the customer's money, that is due to lack of knowledge and greed. Even today, ponzi schemes still exist, but come in many different guises, even in crypto.

One of the reasons for participating in ponzi schemes is the fact that newcomers do not understand how the cryptocurrency market works. The existing stereotype that you can earn a lot of money out of thin air here makes them believe in the promises of scammers to increase their profit.
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
May 11, 2023, 03:56:01 PM
#48
We can prevent people not to be victim of scam with carrying out a campaign against scammer's with their fake platform,

Campaign or no campaign, the information will not still get to everybody, and some people will still fall victim unless the government has seen how serious the case is and decided to take a general action against it, like broadcasting the news on both radio, television news stations and the news paper; otherwise, the information will not still get to everybody. If you still carry out a campaign on the forum, not everyone might still be aware, and if it's only a campaign on the forum, how about people outside the forum?

And before the government can actually come into play in any situation, that depends on how serious the issue has become. All this online ponzi, the government doesn't really pay much attention to it in my country.
full member
Activity: 700
Merit: 205
May 11, 2023, 09:01:26 AM
#47
Snip

Well you can not prevent everyone from falling victim to ponzi scheme, some people are just unawera and also uninformed about things that happen around them. I don't know for others though but some times we really can not blame some people that fall into these schemes because most of them have really passes through some difficult situations in their life and when they hear about anything that can give them quick profit, they will just divert their attention to it and if they just hear one or two person giving testimony about the ponzi, they will totally agree to it, not knowing that it's just a plot by those ponzi platform to win the trust of a whole lot of people and when they have succeeded in doing so, they will just carry out their plans of ceasing all individuals funds and disappear.
We can prevent people not to be victim of scam with carrying out a campaign against scammer's with their fake platform, like assuming it's when this GMG platform was launched newly and people noticed it in time raised alarm of the ponzi scheme been a scam investment platform some people who lost their money wouldn't have lost their money, from the picture you can see that people has already invested and also been scammed
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
May 11, 2023, 06:30:02 AM
#46
Snip

Well you can not prevent everyone from falling victim to ponzi scheme, some people are just unawera and also uninformed about things that happen around them. I don't know for others though but some times we really can not blame some people that fall into these schemes because most of them have really passes through some difficult situations in their life and when they hear about anything that can give them quick profit, they will just divert their attention to it and if they just hear one or two person giving testimony about the ponzi, they will totally agree to it, not knowing that it's just a plot by those ponzi platform to win the trust of a whole lot of people and when they have succeeded in doing so, they will just carry out their plans of ceasing all individuals funds and disappear.
hero member
Activity: 2562
Merit: 586
May 11, 2023, 05:45:00 AM
#45
So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.
People who make in big from Ponzi schemes are those who joined in early. Almost like the early adopters. They make the big money and silently leave or allow their downlines to  go on doing the hard work. We have al been there and go our fingers burnt badly.

Ponzi schemes play on the emotions of people. And from experience anyone can become a victim of it, irrespective of who you are because people from all walks of life are involve. Best to stay not just stay away from Ponzi schemes but also from their promoters and supporters they are the most dangerous people.
Some people would even argue with you if you warn them about a Ponzi scheme that they are a part of, they will say that you know nothing and it won't run away with the funds and will keep paying. They keep inviting others to it since they earn money because of that, and they keep telling their referrals that they will earn money too if they invite more people.

But when the project actually shuts down and runs away with the funds of the people who joined later, the people who argued initially become ashamed of not listening but they basically get their own ROI and those who join later get burned out.
sr. member
Activity: 686
Merit: 332
May 10, 2023, 06:41:15 PM
#44
LOL, it looks like some people are already investing in it. It will sure be what it used to be: ponzi and people looking to make quick cash, so definitely some people will fall victim, apart from those reading through this thread, those that the ponzi have not extended to their country, and people who remain unmoved in this aspect of making money. Obviously, there are going to be more of these ponzi schemes arising before the end of this year; people just have to be careful and do proper research before putting in their money on any platform.

People don't learn and they won't and that is why they will keep suffering. I keep telling people to avoid Ponzi schemes no matter how juicy the offer might sound. In fact, the offers of Ponzi are always juicy and unbelievable. The way these Ponzi schemes work is they pay a certain set of people, so those people can preach the gospel of how they got paid and unknowingly recruit more people into the scam. So these people that have been paid are like the proof that the stuff actually works. This means that the person telling you about the scheme, might actually just want the best for you because he/she has already been paid.
So the best thing to do is avoid anything Ponzi entirely, it doesn't matter how much you trust who it's coming from
sr. member
Activity: 574
Merit: 310
May 09, 2023, 04:50:25 PM
#43
So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.
People who make in big from Ponzi schemes are those who joined in early. Almost like the early adopters. They make the big money and silently leave or allow their downlines to  go on doing the hard work. We have al been there and go our fingers burnt badly.

Ponzi schemes play on the emotions of people. And from experience anyone can become a victim of it, irrespective of who you are because people from all walks of life are involve. Best to stay not just stay away from Ponzi schemes but also from their promoters and supporters they are the most dangerous people.
legendary
Activity: 2618
Merit: 1181
May 09, 2023, 04:10:56 PM
#42
It pains me a lot still seeing people falling for all this Ponzi scheme of a thing after all the experience MMM did to us many years back, because I could remember a friend of mine introducing me to this very website as the latest update in town currently paying, only for me to have a look at the site, noticed it was a Ponzi scheme & immediately told him not to invest just 3 days ago, that this site will soon crash if not now but anytime soon. So that means that's how he would have lost his fund had I not intervened quickly.

Greed and the desire to make profits without hard work have led some to believe ponzi schemes will guarantee returns as promised. They forget that it is an investment that has been set up in such a way that in the end it will only take away all the customer's money, that is due to lack of knowledge and greed. Even today, ponzi schemes still exist, but come in many different guises, even in crypto.

I think it's high time people just need to drop the ideology of greed and focus on the ideology of reality while investing,

Of course you can hope for it, but see that ponzi schemes are still able to attract some people to fall for it, especially when promised easy returns. Some people who are skeptical about bitcoin have called it a giant ponzi scheme, but they are just ignorant and probably don't want to know much.
hero member
Activity: 1092
Merit: 747
May 09, 2023, 02:30:37 PM
#41
Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment
It pains me a lot still seeing people falling for all this Ponzi scheme of a thing after all the experience MMM did to us many years back, because I could remember a friend of mine introducing me to this very website as the latest update in town currently paying, only for me to have a look at the site, noticed it was a Ponzi scheme & immediately told him not to invest just 3 days ago, that this site will soon crash if not now but anytime soon. So that means that's how he would have lost his fund had I not intervened quickly.

I think it's high time people just need to drop the ideology of greed and focus on the ideology of reality while investing, because for a site that claims to offer 25% of your investment, shouldn't normal sense tell you that that's possibly going to be a scam? Where else do you think they are making the money from if not robbing Mr.A to pay Mr.B? And as such will one day likely run away.
legendary
Activity: 1064
Merit: 1228
Playgram - The Telegram Casino
May 09, 2023, 01:24:48 PM
#40
If you're too desperate to make online money then there's no how you will not fall into the hands of the wrong ones because they will always try to influences you to do what tou don't understand or know about, everything in life has a due process without rushing it either, nothing is free anywhere, you have to work for it and earn it before you can be deserving of it, the scam projects are many on the internet rampaging, even our desire for crypto doesn't mean we should go for any crypto project, many of them end being a scam and left untraceable.
Investments should not guarantee returns over a certain period of time, even if investors can earn returns. Scammer take advantage of the crypto industry to make money, while some greedy people will believe that this is the best way to get rich. Everyone should know what the definition of a ponzi is, and those schemes have always existed in the crypto space if newbies have never been careful.

Being careful, alert and knowledgeable about how to avoid ponzi schemes is the best way to prevent scammers from fill their troughs fast. Remember that bitcoin never promises returns, but its price volatility allows its traders and investors to earn returns.
hero member
Activity: 574
Merit: 554
Leading Crypto Sports Betting & Casino Platform
May 09, 2023, 01:10:53 PM
#39
Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.
Except in the US, I have not heard of any law that gives investors the right to sue celebrities for promoting investments that ended up becoming scams. So these celebrities have the privileged of promoting any service or coin without verifying the credibility of these companies. They are mainly driven by greed and personal gains rather than the security of their followers. Even if there are laws that give such rights to victims of fraud, I would never accept any financial advice from any celebrity without doing my research and verifying the product or service. If I have any questions, the forum is big enough for solutions and answers. Anyone that is in a haste to make big gains will always be very easy to be scammed.
hero member
Activity: 812
Merit: 560
May 09, 2023, 08:35:41 AM
#38
If you're too desperate to make online money then there's no how you will not fall into the hands of the wrong ones because they will always try to influences you to do what tou don't understand or know about, everything in life has a due process without rushing it either, nothing is free anywhere, you have to work for it and earn it before you can be deserving of it, the scam projects are many on the internet rampaging, even our desire for crypto doesn't mean we should go for any crypto project, many of them end being a scam and left untraceable.
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
May 09, 2023, 07:05:08 AM
#37
~snipped~
I almost lost my money too with Centra (I thought it was late for me to invest in MCO and I bought CTR in the pre-sale instead trusting in the potential of the project: really bad mistake in retrospective).
Lucky you for escaping the complete entrapment. I wasn't that lucky. However, I count the sad experience I had with the project as one of those things we need to go through in this industry to develop a thick skin. I've since moved on but never will I ever get deceived again because a celebrity or influencer advertised a project and then I blindly buy into it.

Quote
And, about ETN, I didn't lose any money, but a lot of my time, because I invested several hours translating their Whitepaper, one of my hardest works so far.
Time is (also) money, remember.

Quote
Anyway, none of these projects were ponzis: managers from Centra were caught misleading investors by announcing agreements with VISA that didn't exist
What is Ponzi then if it's not deceit and misleading people to believing what is not? ETN also made a lot of unbelievable promises about its projects feasibility and usage. Nonetheless, I still get the drift of your comment.
member
Activity: 136
Merit: 11
May 09, 2023, 06:10:06 AM
#36
Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.




https://www.nairaland.com/7675996/ponzi-scheme-gmg-finally-crashed
People should know any peer to peer platform requesting you to invest and take huge profits out of the system in short time will definitely collapse in to time living a good number of their investors in losses. There is nothing so sustain such platform as it depends only on new entrants of investors to pay it's existing one.
legendary
Activity: 1932
Merit: 2354
The Alliance Of Bitcointalk Translators - ENG>SPA
May 09, 2023, 05:17:38 AM
#35
I once got deceived into investing in Centra (I hope I got the name right as it happened a long time ago) because Flowd Mayweather was its poster boy, it was the same thing when I also invested in Electroneum (ETN) which a Premier League football coach also promoted. While Centra has since died off, ETN has continued to crash since it was created. In the past, I used to trust influencers and celebrities on whatever projects they supported or advertised but not any more. They're also humans like me and are probe to bad choices too.
<...>

I almost lost my money too with Centra (I thought it was late for me to invest in MCO and I bought CTR in the pre-sale instead trusting in the potential of the project: really bad mistake in retrospective). And, about ETN, I didn't lose any money, but a lot of my time, because I invested several hours translating their Whitepaper, one of my hardest works so far.

Anyway, none of these projects were ponzis: managers from Centra were caught misleading investors by announcing agreements with VISA that didn't exist, while Electroneum simply failed like many other ICOs did. What OP is talking about is a project that offered a 25% ROI per day: the very definition of a ponzi scheme.
hero member
Activity: 686
Merit: 403
DGbet.fun - Crypto Sportsbook
May 09, 2023, 04:32:18 AM
#34
When you tell them to invest in Bitcoin, they won't listen, the next question they'll ask is when they'll be able to recoup their investment. Most people dream of living a great life, but they aren't prepared for it. If you mention a period of 2-4 years investment, they'll run away.

They want the easy way out that's why Ponzi is a perfect fit for them, make the money and leave they say, but they have forgotten that it could get really hard to quit Ponzi once you start such journey, for whatever we do we tend to get attached to it, that's why legal business is more advisable than illegal business, once a doctor is always a doctor and once a drug lord is always a drug lord, be careful what you choose to do with your body.

Some people lost a lot through Ponzi schemes and they learn from their lesson and there are people who lost a lot and they believe they choose the wrong Ponzi scheme, they are still looking for a better Ponzi scheme, the human mind is really funny at times.

The lesson of this day is that, not all those who fall will learn and remove what caused their falling in the first place, they are ready to keep falling over again.
full member
Activity: 1148
Merit: 151
Hire Bitcointalk Camp. Manager @ r7promotions.com
May 09, 2023, 04:04:07 AM
#33
To start with, anything concerning Ponzi scheme is a no go area for me, is something I told myself I'd never engage myself in anymore, have never benefited from it either.
At some point when a friend introduce me to Bitcointalk I thought it was one of those Ponzi scheme crab sites, if I should say, this [Bitcointalk] is the best have ever come across.
I really don't blame people when they hear of such site as this GMG (quick money hurts at times) if a friend who has gotten something from it would likely invite you to join, most likely you won't want to doubt your friend when he said he has cashed out a huge sum of money. Well that's how the owners of this sites want people to see them as legit. Ponzi scheme is just a no no for me, like you said OP, about doing some research, it helps but I don't think these scammers are that dumb to let their end loose, is just a matter of being careful.
every member on the bitcointalk forum can make money but none of the forum members are charged a registration fee or payment for membership activity, so this forum is the safest place.

at my place there are almost dozens of projects that are suspected of using Ponzi schemes, usually, I will identify them if
-- they require new members to give a certain amount of money to get money back with an unreasonable amount.
-- the source of income they generate is unclear (many also only sell dreams) and no promising products can be seen from them.
-- We as old members who have been members for weeks are forced to add members to our below-the-line and we are forced to deposit a certain amount of money, if don't do that then the income we receive so far will be drastically reduced.

it is not difficult to identify them, and we should all be able to share them with others, for it is a noble occupation.
sr. member
Activity: 756
Merit: 454
May 08, 2023, 10:08:02 PM
#32
Be aware of GMG website, should Incase kind of website will be close to your country, this site is a ponzi scam website where you will be asked to invest with the them, some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit. So I'm of the opinion that we should avoid ponzi scheme and also make sure we make a research properly before investing in a newly created website. To inform you very well the website has crashed and people who invested their money, all are lost. Let everyone be careful for investment.

To start with, anything concerning Ponzi scheme is a no go area for me, is something I told myself I'd never engage myself in anymore, have never benefited from it either.
At some point when a friend introduce me to Bitcointalk I thought it was one of those Ponzi scheme crab sites, if I should say, this [Bitcointalk] is the best have ever come across.
I really don't blame people when they hear of such site as this GMG (quick money hurts at times) if a friend who has gotten something from it would likely invite you to join, most likely you won't want to doubt your friend when he said he has cashed out a huge sum of money. Well that's how the owners of this sites want people to see them as legit. Ponzi scheme is just a no no for me, like you said OP, about doing some research, it helps but I don't think these scammers are that dumb to let their end loose, is just a matter of being careful.
member
Activity: 840
Merit: 23
May 08, 2023, 07:16:54 PM
#31
quote author=Adbitco link=topic=5451526.msg62210311#msg62210311 date=1683486251]
Jesus!!! Thank you my brother for sharing this post, actually this morning my cousin sister was telling me about this so called GMG platform. She wanted to refer me and get #1000 or something thereabout, that any amount I deposited into website will yield it back within 4 days. That's to say, if I invested #10,000 today I will be paid #2,500 every day for 4 days something like that.

I was even telling her to move out her money that this platform may not last for at least 4 months so if she's wise enough she should withdraw whatever amount she has made from it. I was just surprised coming across this post and I said thank God she didn't succeed convincing my wife because left for me alone i won't investment my dime in that fucking scamming site.
[/quote]
some days a go some people who invested with site because of a skirt Maker who promoted the site and many people thought with the skirt Maker who is promoting the GMG website that the site will be legit.
Don't trust influencers. They can scam you intentionally by working for Ponzi projects but they might even not know that project is scam and they eve lose their money too.

[assets.bwbx.io/images/ I wonder why people don't stop to think how this Ponzi schemes make their money, and how much the make to be able to give out such amounts they give at short intervals......


If life where that easy, we wouldn't have to work out our lives to be able to make a living.
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