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Why I don't Invest On Pyramid Schemes & Smart Contracts
Pyramid Schemes are basically schemes built in a pattern were the sole promoter recruits participants promising a huge return on invested amounts in a short period of time if they in turn recruit others. The User at the top of the scheme seems to be the one enjoying and in most cases, disappear Into the thin air with peoples investment funds. Smart Contracts are majorly built on this pyramid schemes where a participant needs to recruit others under his/her up line in order to earn. This is my reasons why I don't Invest on pyramid schemes or smart contracts and I wouldn't even advice anyone I know to do so. The Stress Of Recruiting Personally, I do not have the patience to convince persons into investing on a platform that would require him/her to convince another before they could earn. What if you don't find another who is interested in investing? You end up losing your invested fund. Pyramid Schemes are Mostly Scams Majority of the pyramid Schemes that came surfacing ended up running away with investors funds. No matter how promising they look, I can not be part of it. Come to think of it, how would you invest $100 to get $300 in 24hrs? Where would they get this much money to pay everyone?. Cons Smart Contracts are extremely new technologies which could be vulnerable to bugs which could be exploited by scammers. **Pyramid schemes** are doomed to fail because their success depends on the ability to recruit more and more investors. Since there are only a limited number of people in a given community, all **pyramid schemes will** ultimately collapse. Conclusion What you see here is basically in my own opinion, yours might differ.
41 comments
Can you tell me some real invest site, where I can invest my ltc???? I don't know anything about invest😞
Pyramiding Schemes is not good Sir, as I know your income there will base if you invite more , just correct me if I'm wrong.. While Smart contract depends on how much is there funds after the funds is gone no more earnings. .
Sadly I joined in a smart contract group and my Investment didn't return because the eth suddenly get high so no one wants to join now. 🥺 Unlucky of me!
Forsage right?
Being scam twice is enough on me ill never fall on that good promising again 😭
Lol, Sorry About that
You are absolutely right. I was join before at smart contract and it's really sucks!
It sucks.
When your highschool crush texted u after 40 years..its a pyramid scam.
😂😂😂
Can you tell me some real investment side
Hashrange.
In pyramiding schemes only those on top beneits from it.. as the saying emplies "Early bird catches the worm"
That's what I noticed, Maybe I'll only join such schemes when it's new.
I wrote an article about pyramide scheme https://read.cash/@Telesfor/how-do-i-know-if-smart-contract-like-forsage-is-a-scam-c60e2bb4
I'll go through this as soon as I can
I am not sure I undestand what you mean by Smart Contracts... Ethereum ETH and all its derivates ERC-20 tokens works on smart contracts. USDT works on smart contracts. It is a new technology but quite proven and for most verifiable.
I am not against Smart Contracts, Like Forsage's. I'm just saying that it would be quite rare before I invest in such.
Forsage is a company, fund, scam, ponzi scheme, call it what you want, that use a smart contracts as a technology. But it is not A smart contract itself. Smart Contract is akin of a program if you want. Its a bit like saying Windows is a virus because people can make virus for it. Just 2 different things to me. Misnomer...
It's a technique obviously. The early joiner will benefits more and the worst will go to the last. It's like networking but in some especial way method added to it. First they give pay out in the first, second or third time but times come they will gone. That's why it was usually called scam.
Yeah, you are right
I don't really know about smart contracts, but pyramid schemes are mostly scams. They take your money after promising to double it and poof! They are gone after a while, with your money of course.
I didn't say Smart Contracts ain't real, Some are.
I didn't say that either, I don't know much about them so I can't really judge. I was talking about only about pyramid schemes. Yet i never invested in neither pyramid schemes nor smart contracts. I don't trust them and better save than sorry.
Okay, I understand you now. Better save than sorry 😂
Yes. That's my openion. Why putting mymoney on obvious scams. That's how i look at it. anyway, Thanks for the article.
Pyramid schemes are not only illegal; they are a waste of money and time. Because pyramid schemes rely on recruitment of new members to bring in money, the schemes often collapse when the pool of potential recruits dries up (market saturation).Inshort, “Mr. Brain gets rich quick 😂”
That's exactly what happens.
Yeah...
Pyramid schemes are majorly scams. Especially the ones involved in crypto currencies. I have ran away from alot of them and i will never find myself involved in such scams
Are you an African?
Yeah
I agreed to his statement. Those who are in higher tops are those who only benifited
I am one if the user if forsage and i know clearly that they offer big amount of money if only we cant get some referal and i am not good at doing that and i also dont have youtube channel to promote such things and referal is not possible and every platform has one motto same as others and you must take risk inorder to gain profit and today also i learned something from you and thanks for it
Yes, some are real example, forsage but the stress is in recruiting members
It seems we both are on same page when ever I see anything involving pyramid , smart contract or MLM or binary whatever I do desist to get involve with such because it is based to make the founder rich in one way or the other he would always be on top that just the thing.
😂😂😂
It a no no for me I even hate telling people about joining some of these thing.
😂😂😂
It's damn funny but very serious I hates explaining and give people ...
Adon know