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Investing in ponzi schemes is very risky

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  • IDEAS Investing in ponzi schemes is very risky

    It's in human nature to always look out for the possibility of making money both online and offline. There are so many legitimate ways through which one can earn money online, either through paid posting, affiliate marketing, adsense, etc. All these means can earn one a decent amount of money if carried out appropriately.

    But on the other hand, there is a self acclaimed fast means of making money online which is through ponzi schemes. It's most times called double investment schemes, they are not safe. Avoid any ponzi schemes because you will end up losing your money.

  • #2
    If you know that it is a pyramiding scheme then I guess you are stupid if you would join or maybe you are taking advantage of your friends. There are supplements and other health products that are also taking advantage of people like if you join now you can earn by recruiting people. That makes you gullible when you go ahead.

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    • #3
      Ponzi schemes were one of the things that broke the heart of a whole lot of Nigerians back in those days. What I don't really understand back then was the reason people had to fall for such a scheme that promised to rob Peter and pay Paul. It was not a self-sufficient business that could last and that brought it's downfall as you pointed out.

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      • #4
        It's risky, but also can be very profitable if done right. I mean, it's great to just sit and relax. Let the money flow in, doesn't it? We value our time since we live here only once. Wouldn't you agree? HYIPs are excellent in this regard.

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        • #5
          I heard of that scheme and a lot of people attracted to it. Since it will give a promise of being rich in a short period of time. I think that each of us should understand and analyst things before deciding. To grab every opportunity is not always a good concept to adapt. In most times it's a disappointment. It should be remembered that no one will ever get wealthy in one night but rather thru hard work.

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          • #6
            Just an advice, Before you invest on any crypto make sure that it is legit by researching its website. whitepaper and roadmap. if one of that is missing then dont think twice just forget about investing on that crypto. on some occasions even if that one crypto has all that 3 things i said it can still be a scam after they get your money they will just be invinsible or gone totally.

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            • #7
              We often represent investors who have lost money in Ponzi schemes. Investor rights lawyer Alan Rosca, one of the firm’s partners, has represented thousands of victims of Ponzi schemes.

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              • #8
                Originally posted by gsplaw View Post
                We often represent investors who have lost money in Ponzi schemes. Investor rights lawyer Alan Rosca, one of the firm’s partners, has represented thousands of victims of Ponzi schemes.
                Personally, I believe it's useless trying to fight legally over the money that one lost in Ponzi schemes because you are too greedy enough to be too gullible and invest in a shady get rich quick project.

                The victim is completely to be blamed for his or her foolishness and greedy. Going to court is a further embarrassment to oneself.

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