Scam , HYIP & Greed: How Steemit Can Save you from being ruined

It is argued that 90+% of the investment programs flowing in the internet are HYIP scams and such scams continue to rip people off their hard earned money. This type of weird programs are widespread due to 

• Human nature: greed for fast and easy money.
• Commission Junkies: Some people promoting HYIP and PONZI schemes to thousands of followers due to huge commission gains.
• Lack of personal research: no due diligence is done on the part of investor.

          

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Moreover, huge success from crypto currencies and some legit online programs is also a factor. Hence why many programs promise 2 to 15% daily ROI with smart Bitcoin trading bots with  promise of 0.3% hourly ROI  ( example is Bitcoin Brain) and other programs like MMM United, BET Robert,  Me-con , Bit connect- note that all failed HYIP scheme always come back with different names and claim legitimacy either via UK registration number (even my cat can register a company in UK) or in an Asian country. Most worryingly, however, is that there is no official person to contact or hold responsible if investors lose their money. However thanks to a great steemian like @mrwalt who has taken out time to do a constructive due diligence on HYIP and share his results via his steemit posts - against all odds (thanks buddy!!! good job) - in addition to @kyriacos , @xaero1  and @crypt0 (to mention just few) who consistently send in constructive advice via their posts or comments. 

 Scam , HYIP & Greed: How Steemit Can Save you from being ruined 

As I indicated in my former posts, steemit is the best social media platform due to its great people , ability to learn new things and financial rewards. In addition to these principles, steemit is also a platform that takes the fight to scammers and spammers who want to take advantage of the great platform for their personal financial gains-here are few recent examples (see my older posts about spam and scam for more):

• @jerrybanfield  researched on steemit top earners of the month-where he found out about smart voting scams  see link here  
• @stellabelle  with the help of @sherlockholmes post found out about how @walterz  stole someone else pictures online and posted it as his own on steemit-see link here  and lets welcome the real owner of the pictures who just signed up on steemit see @thompjerry . 
• @sherlockholmes aka steemit scam and spam slayer, fishing out scammers who use 1700+ accounts to rape our reward system dry –see link here 

                                  

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all these examples including being able to report plagiarists , spam and scammers to the newly born  @sadkitten  ,  @cheetah ,  @steemcleaners and @sherlockholmes  via steemit chat shows that steemit is a platform that is doing something against spam and greed .

Moreover, if you want a legit success online then focus on the fun side of steemit (not money because money will come) , grow your followers through engaging in the platform via smart commenting and  joining steemit groups , challenges , buy more steem power and follow smart steemians (we have a lot of them)  who will always guide you via their prudent posts.

Conclusion: This post has outlined how many people have lost money: due to blind trust, greed and lack  of due diligence .However steemit is great because of its member’s ability to prudently and openly post about the issue and take the fight to con artists who want to take advantage of the system- and  through innovation, created tools to help in the fight. 

What do you guys think?

• Scams are big issue here and I will certainly help in the fight

• Not all scams are essentially bad, i.e. I do not have a problem with any anyone

• Spams and scams are here to stay!!! Indicate why you think so

• @charles1 here you go again!!!! Stop writing nonsense; I do not agree with your analysis-in fact, I love scam!!!!

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Do you know that excessive supply can kill Steem, EOS, Bitshares and other coins? See my former post here