BITTER-SWEET: MAJORITY OF STEEMIAN NIGERIANS ARE VICTIMS OF PONZI SCHEMES (A PERSONAL ACCOUNT & MORAL LESSONS PART 1)

Image source: @ejemai

After biting my pen for several hours, pondering on what to write to interrupt the smooth flow of my current series on preconception Sex selection, the above topic flashed like a florescent light in my mind. Inwardly subjecting it to objective debate before deciding whether to write on it or consign it to history, I found out how true it; VERY VERY TRUE.

In this piece, I will try to give a chronicled accounts of how a typical Steemian Nigerian ended up in Steemit Social Capital Program after having been possibly scammed, chasing elusive ponzi pecuniary baits. In doing this, I will use my personal experience as a generalization of the possible journey of most Steemian Nigerians to steemit, with exception of very few, however.

2016 was historic and a very remarkable year in Nigeria. For one thing, It was a year that saw the introduction of now popularized phrase "ponzi scheme" into socioeconomic nomenclature of Nigeria nation. I can bet that prior to 2016, like myself, not many Nigerians have heard that phrase, "ponzi scheme".

Nigeria is a country that is endowed with a very ambitious population. A typical Nigerian youth is very success oriented and will rather go extra miles in pursuit of success, which sometimes result to incarceration when the objectives are not in conformity with the law.

This is quite understandable when you consider apparent failure in political leadership and attendant harsh socioeconomic conditions. In my discipline, microbiology, when a bacterium is continuously subjected to a particular agent that tends to inhibit its growth. Initially, the bacterial inhibitor may be effective but would certainly lose its inhibitory potency with time. Why?

Because the bacterium would try to survive by developing genetic traits to withstand the harsh effects of the inhibitory agent. This is how resistant strains of bacteria Staphylococcus aurius, etc emerge. And this is comparable to life in my dear country, Nigeria. Due to harsh economic reality, a typical Nigerian youth is very eager to venture into any opportunity with a 'must-succeed' doggedness, which sometimes leads to losses of gargantuan proportions and widespread public disenchantment with some programs: MLM, pyramid and other matrix craps.

Ponzi schemes thrived at a time in Nigeria because majority of the youths are already disillusioned with pyramid programs and its likes. This is my personal view and I trust it is in conformity with the popular views.

When I was being introduced to a ponzi scheme by a friend of mine, the first question I asked was whether my earnings would depend on the number of people I was able to bring into the program. The answer I got was that though it is good to invite others but it is not a precondition to earn. This is followed by a series of evidences in support of the argument. With disappointing background in pyramid programs and other "shenanigans" as @sweetestglo-eu would say😁😉; to me: this is most innovative. And so I capitulated.

Ponzi proprietors are such a smart group of fraudsters. In order to evade security touchlights and avoid the possibility of being tracked down, bitcoin was selected as a currency of choice for the program. So whether you like it or not, so long you have interest in the program, you have no choice but to learn what bitcoin is and how to use it. This was how I came to know bitcoin and the larger cryptocurrency world. And the fact that one can even live off of cryptocurrency trading.

Not long after, however...the program crashed and the ponzi criminals made "waka" 😢 with all the invested amount, asking us to re-donate anew in order to be paid 10% of the old "marvro" alongside the accruals of the new donations. I couldn't take it. Besides, there was no money to reinvest as I was 100% bankrupt.

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With my little experience in forex trading, i decided to go back to cryptocurrency market and invest. While I was researching on the choice of good cryptos and tokens to invest in, Steem along with some others were recommended by one self-acclaimed expert on cryptocurrency investment. Reading the steemit white paper to have a good grasp of its project in order not to fall victim again, I found out that this a "home" to be! And the rest is history.

This is my story, a bitter-sweet tale of my journey into steemit program. Bitter with respect to my sad experience with ponzi program; yet sweet in regards to my discovery of Steemit.

And I can beat my chest and declare that most Steemian Nigerians tolled this path of mine before discovering Steemit, and hence my choice of title for this piece - BITTER-SWEET: MAJORITY OF STEEMIAN NIGERIANS ARE VICTIMS OF PONZI SCHEMES (A PERSONAL ACCOUNT & Moral LESSONS PART 1). And this brings us to the end of the part 1 of this two-part article. In the concluding part (i.e. part 2) I will be talking about some moral lessons learnt from this experience. And it's important you identify with me once again.

On that note, however, whether you're a Nigerian or not, I would like you to share with me in your comment of how you came to know this wonderful program, which you and I are part of.

Thanking you for reading, and do check back for the concluding part.

Remain Blessed.

Yours Naija Boy @eurogee