You want to earn a good means of lively hood by engaging in ponzi schemes? I am sorry “it is not possible”.
Ponzi scheme popularly described as a game of robbing peter to pay paul. It is defined in wikipedia as
“A fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.
Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.”
If you are like me that definition was way to formal and unnecessary .
Robbing Peter to pay Paul is fine by me.
This is how ponzi schemes work.
Its a game where an organisation (usually through a website) offers a member to member donating platform to interested people promising to get at least double or more of the amount donated. Mr A donates a certain amount to Mr B and receives the same amount from Mr C and Mr D and then re donates again to get another double.
Money as to circulate in the scheme for it to work. The more people joining and donating the higher the chances of people getting paid, but do not get it twisted this only lasts for a while for it will certainly crash. If it is not stopped by the authority it falls apart on its own and in the few outlines i will tell you why.
- There is no way everybody putting there money into it will be on the same page. Some might be into it just to meet a particular need and cash out on first payment instead of donating to keep it running. Now that leaves the giver expectant. If there are more people not re-donating, more people expecting to be paid, the systems ends up folding itself and the organizers ends it.
- Most people understand the trick involved in ponzi schemes yet they go into it anyway but they panic at the slightest twitch like in the case of loopers.com(a ponzi site) where they had issues with their site which led to all their files disappearing and and they had to manually get it back from members. The system got back and ready to work but this wasn’t enough to encourage members to re-loop and keep the game rolling. As you can suspect loopers.com never came back.
- The ponzi scheme is usually powered by individuals (corporate or online) with the main purpose of making alot of money. They allow the system run for a while so as to encourage more people to join and then cash out eventually doing away with tonnes of money. Sergei Panteleevich Mavrodi of Russia has been doing that since 1989 when he founded Mavrodi Mondial Moneybox also known as MMM. Nigeria being the latest country the system crashed. Now random web developers designs similar websites obviously trying to tap into the scam and cash out massive.
- There are some fraudulent member trying to disrupt the scheme by uploading false payment proof so that they can be eligible to receive payment. This can never go well eventually.
- Most countries do not condole the operation of this ponzi scheme. Government interference can also disrupt the ponzi activities.
Thinking of the contents to use for this article i thought i should write why this form of investment should not be used as a real business but the truth is most people are only concerned about earning quick bucks regardless of how it comes and i can understand why.
The economic backdrop is a major blow in the financial state of most individual’s pocket and naturally these people want a way out. Unless i have money that i am not using to give you, i should not come here and sound like an angel telling you heaven is real, but i think i can show you how to play the game without wrecking your safe.
If you want to get in any form of ponzi scheming keep in mind that it will crash, some takes months, some take years, it doesn’t matter how long, it will crash eventually. With that mind frame investing your money should be prudent, always think of it as a loss until you are paired and paid. Follow these few tips below and you may be fine.
- Always be on a look out for any new ponzi and join immediately, It gets closer to failing when its more than one week old.
- Invest your spare money or any funds you won’t feel that much, when its gone. There is always a slim chance that your will not money will not come back so be extra careful with the money you let go of.
- Its okay to invest in multiple accounts with different emails and bank accounts. Some even use the same bank account but know that you have multiple risk of losing your money. I advise you trim down the accounts as time goes, reducing your chance of losing.
- After your first payment always reinvest the profit and keep your own money. Some people do that after the second or third but i would advice you be a extra safe after the first payment. Don’t be tempted to invest all in multiple accounts.
- Be time conscious and know when to quit and cash out all your money. The organizers are on this same level of thinking in this business so you should as well.
- My final note is for you to go into the game to finance your business. I did not say go into it to buy a new phone or clothes or any other material things that don’t matter in the long run. Play the ponzi game to support your business. Click the bold link to read my post on legitimate businesses that is guaranteed to succeed online.
I wrote this article not because i want to encourage you to do any type of scam or scheme but to let you know about the possible opportunities there is as an entrepreneur to key into and make a means of livelihood for yourself. There are thousands of ways you can make money online its just that sometimes we look at the wrong places for information.
Again i am not your mother, every man has a will to choose but if you must choose this, then do it for the right reasons which is what i am proposing.
Some of the platform i have heard about include;
- Get Help Worldwide.
- Givers Forum.
Twinkas is one die hard platform that never wants to go. They Keep coming with ways to stay. It is said to be the biggest since MMM.
Before i round up let me briefly tell you about another money making scam similar to ponzi scheme known as the pyramid scheme.
Wikipedia defines it as “A pyramid scheme is a form of fraud similar in some ways to a Ponzi scheme, relying as it does on a mistaken belief in a nonexistent financial reality, including the hope of an extremely high rate of return.”
A pyramid scheme is a system that is similar to network marketing where you have to keep recruiting to receive after you must have donated to an up-liner. This is the most bizarre mode of making money i have ever heard about. My candid advice is that you avoid any form of pyramid scheme or network marketing for that matter because;
- It is a waste of time.
- You will never reach that goal because it is imaginary.
- It will damage your reputation among those you recruited.
- It collapses much faster.
- Only the first set really enjoy this mode of investment.
- Most of them are pure scams like zarfund and i-charity.
I fully understand the craze behind the ponzi game and the urge to increase money in your bank account but it is important that you acknowledge the risk involved and even more important to know the alternatives as well.
I wrote seven(7) online business guaranteed to make you extra streams of income online on the side or full time. Click on one of the links above and see how you can start a legitimate business online or you can just reach out to me in the comment session below, i will tell you how i earn a living as an affiliate.
Kindly, comment about your ponzi experience below or just tell me what you feel about this article