SEC-S17W3|"Let's Talk About Ponzi Scheme"

Hello everyone, am excited to be contributing my entry on this exciting topic. Human beings are actually nervous about money and gain and this has caused lots of damage. Schemes other the regulated means of making income can be termed risky. Now let's discuss Ponzi schemes.

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👉 Have you ever heard about Ponzi schemes?

Yes, I have heard about Ponzi schemes on different occasions. Ponzi scheme has become very common as it is being seen in various countries whether advanced, developed, or not. It has no limit or boundary and is done by those tricksters who regularly strive to embezzle their finances.

Not only did I hear about the Ponzi scheme I have been a victim of it. Ponzi schemes look rosy and lucrative at the beginning but in the end, one loses more than what was invested.

👉 Have you been offered to invest in any of these schemes?

There are a few occasions in which I was lured into a Ponzi scheme and I even referred people who also invested. The jugglery and delusion of the Ponzi scheme is that it is generally alluring to join at first sight.

It is worthy of note that principally, PonI schemes do not have a pleasant ending. It may be going well at the onset as we make enticing earnings but normally the quest for more born out of greed and curiosity leads to capital investment which further leads to loss of capital and profit.

The referral rewards of Ponzi schemes are very appealing and that's the only fun about it. It is a well-thought-out and planned strategy that motivates people to bring more referrals due to the promising referral earnings.

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👉 Do you know how to detect Ponzi Schemes

There are a few things to consider to identify or detect a Ponzi scheme irrespective of how showy or impressive it may look

Contrasted to other legal and legitimate corporations, Ponzi schemes have a small maturity timeframe as well as a return on investment as part of its elements.

One should evaluate the reward scheme compared to what other legal and centralized investment or outsourcing companies offer. The reward schemes of Ponzi schemes are usually high and enticing.

Lastly, Ponzi schemes come with a referral scheme which facilitates rapid growth of investment while the scheme lasts.

👉 Do you think steemit is a Ponzi scheme?

Funny as it may be, anyway steemit is much better and beyond this trickery called the Ponzi scheme. Steemit we know has stood the test of time and survived many seasons.

Steemit as a platform for varied and wide engagements requires no compulsory investment of funds before taking part or queuing in. Steemit doesn't require money to register, after that engage and earn, and thereafter the cycle goes on. This is contrary to the structure, design, or layout of the Ponzi scheme.

Steemit instead functions on the engagement activities in the platform and subscribers are rewarded based on the level of involvement, quality of content, as well as degree of creativity. These features are not in any way obtainable in those Ponzi schemes.

Thank you all my friends for your time here, you are appreciated. Am inviting @hisgeneral, @chilaw and @ruthjoe