Crypto Pyramid Schemes are still Amongst Us

South Park

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Quote from: darkangel11 on January 27, 2020, 02:48:39 PM

Ponzi schemes will exist because there's nothing to stop them and they have community's silent support.
They are even advertised on this forum and when people try to warn participants they are greeted with anger and resentment.

Don't come crying when you lose money in a ponzi scheme because you wanted this to happen!

The community does not give their support to those projects in fact there are many users trying to find those Ponzi schemes and trying to protect people from it, the problem is that those investors always believe they are smarter than everyone else and that they have found a way to make money in the markets without too much effort and we know that never ends well, bitcoin allow us to be our own bank and it is time for people to not only accept the freedom that comes with it but to also accept the responsibility as well.

MOProgress

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Like you rightly said, there are many pyramid schemes, the only way to escape is, spot them out, and avoid them totally, other wise, you may be a victim.

joeperry

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It's true that we are getting smarter specially the newbies spreading good information will really do good for them even though they are aware of these schemes we should not forget that those who behind the schemes will not stop from thinking a new way to deceive new users and investors to the market.

We should be careful in doing things specially in new types of investments because we might not know that's a new type of ponzi or pyramid schemes.

betty11

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As long as we have people who don't want to deliegently learn about Crypto, then they will always look for the easy way out and this has to do with Pyramid Scheme and other automated payment system that are a time bomb.

darkangel11

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Ponzi schemes will exist because there's nothing to stop them and they have community's silent support.
They are even advertised on this forum and when people try to warn participants they are greeted with anger and resentment.

Don't come crying when you lose money in a ponzi scheme because you wanted this to happen!

South Park

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I am terrible at Fantasy Football!!!

Quote from: doctor877 on January 24, 2020, 04:27:30 AM

At this point in time, anyone who has been into crypto for a while won't fall for scheme like this because it's very easy to recognize no matter how well it's being designed. Crypto investment is ok that requires a lot of patience . Anyone that is offering to make it quick is obviously a scam. Newbies should beware

You would think that is the case but I have my doubts, the greed of people knows no limits and even when you try to explain to them why something is a scam they are not going to listen until they find out by themselves, one perfect example of this are icos many complain about not investing in the right ico and they think that is the reason they lost their money and they are trying to accumulate more money so the next time they can earn money by selecting the right coin, they do not understand that the whole problem was investing in any ico in the first place.

Meowth05

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Honestly, back in the day when I was a newbie, I used to fall in this kind of scheme but luckily, I don't have that much money so they only got a few of my funds. Learning here is that before entering in a particular investment you should make a research first, take all the things you must know and always use your brain. It is easy to determine if the project is a totally fraud, it is very rare to see an investment that would give a double or triple reward so don't let them fool you otherwise it will be your loss. Just use your brain and follow your intuition that will make you fine.

Hypnosis00

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We are still not getting far from any form of a pyramid scheme, cheating, and many questionable acts that will lead to losing. In fact, not only newbies could always be their victims but sometimes it happens also the old crypto investors. It is most likely that scammers are improving their strategies also so they could still catch their prey.

With all the awareness that spread in the forum and even in social media it still, we could about complaints about this. It may be we could ever stop this thing of its existence.

sana54210

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There is no time period where people will not fall for pyramid schemes, it has existed for over 100 years now and it will continue to exist forever.

I mean they do legit business pitches in sales and marketing with suits and professional looking offices, which invites maybe hundreds of people every single day yet even if they get 1 new people into the system it is better compared to zero. I have been to one of them for example because one of my idiot friends were convinced enough that this business was definitely! not a ponzi, dude was making so little amount of money per person they can enroll that I couldn't believe he would even bother to join in the first place but he did and invited me as well.

For all purposes, they looked like a regular business that asks for money for startup costs of you getting website and products etc so they don't start negative and then they gave you these things and told you to either sell them or find someone else who will sell them and take commission, I bailed out of course but it definitely looked like any other business in the world when looking from inside.

biddicoin

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Quote from: miklesm on January 25, 2020, 01:05:40 PM

I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

sadtruth, as long as there is demand, there is supply too. greedy is human nature, that's why they want to earn fast money
they often dont use their logic as well before doing something, at that time, the greedy works

it doesnt only happen with newbie, but the experts also can do
I myself try hard to use my logic before investing to avoid this one

sayaya17

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Yes, in 2020 we have to at least learn from experience, be smarter and more careful in choosing investments in the crypto world, so choose projects that are far from fraud and scams, because crypto space is indisputable if around us a pyramid scheme is formed which can deceive anyone who wants to invest in crypto, do not let adverse events in previous years repeat this year. So don't be lazy to analyze a project if you want to invest.

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Quote from: fortunecrypto on January 26, 2020, 06:01:43 AM

Quote from: VDraci on January 04, 2020, 07:40:19 AM

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

If they are aware of Onecoin and Bitconnectcoin, I'm sure they are aware of what scam coin looks like and they are fully aware that projects that offer a plan with guaranteed interest can be considered a Ponzi scheme and multi-level marketing, people should know how to differentiate Cryptocurrency volatility and a Ponzi scheme.

the name of the case that you have mentioned might be for experienced traders to know that it's a scam or not but for new traders it will be difficult to choose a good cryptocurrency they don't know the pyramid scheme that makes a lot of people lose and they also don't have the experience exposed scam so if such a scheme still exists they will target traders who don't know it all to make them victims.

fortunecrypto

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Quote from: VDraci on January 04, 2020, 07:40:19 AM

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

If they are aware of Onecoin and Bitconnectcoin, I'm sure they are aware of what scam coin looks like and they are fully aware that projects that offer a plan with guaranteed interest can be considered a Ponzi scheme and multi-level marketing, people should know how to differentiate Cryptocurrency volatility and a Ponzi scheme.

koang

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Quote from: miklesm on January 25, 2020, 01:05:40 PM

I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

Yep.this is ironic...
Almost everyone knows that t is impossible to get huge profits in a very short time
But greed make people blind and a convincing liar can make you give up almost everything you have.
To avoid this, be a smart investor, do in-depth research before deciding to invest and don't invest beyond your means.

Be carefull and be a smart crypto investor!

FanEagle

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These pyramid or MLM projects are always meant to carry a major promotion of the company. These schemes attract a lot of peoples and it creates higher demand for their company. But mostly, these schemes should be ignored as they give profits at the initial stage but they might stop paying their users after a specific time.

Mostly what I saw in MLM or pyramid projects was that they use the money collected from the downline to pay the upline so they do not really have to pay anything from the pocket but instead the chain keeps on running in the similar ways. This would be highly profitable for those projects but it would eat up the capital from the investors who were late to join the benefits.

miklesm

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I think pyramid scemes will exist forever as people are always wanting to earn money fast. Unfortunately, they usually even know they are investing in a pyramid, but they still have hopes they will be able to earn money before the total scam.

Chainsmokers

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Quote from: inanilujimi on January 25, 2020, 04:13:01 AM

do not be easily tempted by a project that promises to multiply profits in a short time, because in the world of crypto everything needs a process to get maximum results.
immediately avoid suspicious activities and don't be easily influenced by people you don't know.

It is very important to note that many people do not easily believe what others say, but scammers certainly have many ways to be able to make other people believe in the projects they bring and we know of course many people are careful in every decision but some of them can still be trapped or entered into the project and this I think is normal and maybe all we have to do is share opinions with the closest people who are the same as knowing cryptocurrency.

tungaqhd

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Quote from: VDraci on January 04, 2020, 07:40:19 AM

This is new year and i expect newbies to get smarter, be careful of new projects that are nothing but pyramid schemes, Multilevel marketing schemes or pyramid schemes may likewise be utilized to swindle crypto investors. Such new companies guarantee enormous degrees of profitability inside a brief period, and regularly convey different individuals to rope in new members. When the part list gets generous and the fraudsters get a sizeable store, they evaporate, leaving all investors seething. The most ideal approach to distinguish such schemes is to take a gander at the project's experience. Such projects will in general evade any perceived organizations or bureaus and have next to no undeniable foundation data, be very careful and limit your losses this new year, all the best.

It is sad that many newbie still get scammed by Crypto Pyramid Schemes. They often offer high revenue by investing and referring friends so people who lack of knowledge can be scammed easily.

shiming

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In the crypto world, there are too many scams. For newcomers, they like such scams more easily and are more exposed to them. We like to remind and teach people who have just entered the market how to stay away from such scams. In this way, the crypto market can develop more orderly. This is what we should do to let more people know about Bitcoin and blockchain technology.

Yaunfitda

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Quote from: udonmez on January 25, 2020, 06:36:08 AM

Even high thrusted coin are scam and pyramid these days. Every beginner of course should be careful. I do not suggest them to invest altcoins at the beginning.

Well they can invest in they know what they are doing or at least DYOR.

But the problem with most beginners right now is that they buy the hype and thinking that they can make easy money. But it is not the case, altcoins are still good, but you need to be very careful. I still prefer top ten altcoins so that the risk is not that big. As compare to those high risk high reward IEO/ICO, definitely not suited for beginners.

Topic: Crypto Pyramid Schemes are still Amongst Us (Read 859 times)