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.
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
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!!!!
Send in your comment, Please resteem this for others to join and up vote to send your support.
Do you know that excessive supply can kill Steem, EOS, Bitshares and other coins? See my former post here
Spammers and Scammers are Scum !!! Koodos to all those mentioned that are helping to keep Steemit free from this typical on line crap !! And yet another reason why I love it here !! Great post , keep up the never ending fight , sadly enough ! Steem on my friend , upped and resteemed !!💕✌👍💕
wow my yummy laddy, thanks a lot for your support and comment ,wish you a blessed week 💕✌👍💕
You to my friend thanks ! And happy Sunday !😂😂😂
welcome ✌👍💕
Resteemed. HYIPS are dead scammers, ICO's are next
@anforo
I agree 100% for hyip ...explain why you mentioned ICO's...in ur comment...
Thanks, I agree with you. Thanks for your comment
You really just gotta use your brain out there and realise 98% of ICOs are a scam. There is no free money.
http://www.FlippyCoin.com is the #1 Cryptocurrency Exchange!
Wow!
This is SOOO true. It is sad, but it is TRUE!
Really great post. Steemit to the moon!
SteemON!
welcome @quinneaker , thanks for your comment
I hate that all scam... report and destroy 👊 please
Hahah I agree, thanks for your comment
@charles1 - You've touched on one of my big concerns about Steemit. I love the whole concept behind the platform but something must be done to corral the scammers.
My idea for solving the problem should be fairly straightforward to implement. Steemit already has a system whereby users can upvote witnesses. Why not a similar mechanism for ostracizing bad actors?
Here's how it could work ---
Every user gets a single strike that they could apply to, or remove from any other user, at any time. Strikes would be tallied real-time so users would be able to monitor how the community is feeling about them, and hopefully, correct themselves. Offenders with the greatest number of strikes would suffer consequences such as:
Such a self-policing system could stop the scams while boosting overall content quality. The job of moderating would be made a lot easier too.
Hopefully, this gets read by one of the developers.
Good tips indee, thanks for sharing
This sounds interesting and has potential. However, what about a scammer who opens 1000 accounts and uses all strikes against you? Obviously, we would need some sort of weighting, like downvotes. But I do like the idea of a single strike per account.
I came to steemit thanks to @tomtrademore and his preppers groups. I soon found a renewed way start back into writing (I had been absent for about two years) and I am here for the writing platform and to reach a new audience.
The monetary benefit is way down my list of priorities on steemit.
Thank you for sharing this information.
Every day I am learning more and more about steem, SBD, SP, etc and how to develop a posts with more substance and motivation to others for commenting.
Good point, I agree with you...keep steeming to more success
NICE
What is nice about it?
100% Agreed. There is a high boost in HYIP programs online. They come, Give profit to some people and run away with hard earned money of investors. There are many better solutions to earn money online including the Best Steemit. Nice post
welcome, thanks for your comment
Hyip, Ponzi or pyramid investment schemes are all same. They will roll the funds till their Target and lastly disappear. Never invest your money in thin air with baseless golden dreams.
STAYSAFE
Good point, I agree. Thanks for your comment.
This post has received a 1.05 % upvote from @booster thanks to: @charles1.
Thanks bot