HYIP - High Yeild Investment Programs - What Are They?
Well i have just spent the last 24 hours reading about HYIPs - High yield investment programs.
Why did i spend all this time reading about HYIPs you may ask?
Because last night i invested into one.. without doing any research at all.
In fact.. being so excited i actually wrote this post here on steemit:
https://steemit.com/bitcoin/@jimbojones/amazing-bit-haul-investments-started-3-days-ago-get-in-now
I was actually half way through creating a system to share mining rewards with investors.. exactly like this system.
Or so i thought.
But something i have come to find out.. is these high yield investment programs are generally ponzi schemes.
They take money from one investor.. pay profits to the next investor.. and eventually run away with all the money.
In general.. even risky loans or investments can only pay a return of around 20-24% per year return on investment.
These HYIP sites are offering compounded daily interest.. up to 10%.
Ever heard that old saying.. if it sounds too good to be true.. it probably isn't.
I came across this website.. a toplist of HYIPs along with reviews etc:
This website lists all the different hyips.. along with payout information etc.
So Bit Haul is not the first website to do this.. as i thought.
I did not realize there are literally hundreds of copy cat websites offering the same thing.
Now i understand these CAN and DO pay out.. to start out with.
But once the operator is ready.. away he goes with everyone's money.
I have also heard many people invest into these early.. in the hopes of cashing out before they close.
It's certainly possible.. but its a scum bag move. Your just taking money out of other people's pockets..
So i just thought i would share my research with everyone.. be sure to do your research before you invest into anything.
Here is some more information on HYIPS:
https://managingyourfinance.com/hyip-makes-money-legitimate-hyips
https://en.wikipedia.org/wiki/High-yield_investment_program
https://bitcointalk.org/index.php?topic=520086.0
https://en.wikipedia.org/wiki/Ponzi_scheme
They are all Ponzi schemes
So there IS a difference!
The one way You can earn some money in hyip is when you are really early there and after you people's still put money in. If creator of hyip got bigest profits from Fomo then pay out for current investors. Other way its just begin a scam
Yeah it's interesting you say that.. i am still researching but it seems its a little industry these sites.
If you get in early and refer people you can make lots of money.. but if your one of the last ones to put in you lose it all.
People actually make money of doing this.
Know but its risky couse somw of them are closing even the next day :) in my opinion its better just to trade or buy some PoS crypto
Yeah i like POS crypto am working on that as we speak..
What are you staking :)
You can find thousands that have fallen in Badbitcoin http://www.badbitcoin.org/thebadlist/index.htm
Great link :)
Completely a ponzi scheme. Been there done that. The payout that will be given to you is only the money you invested. After that, they just have gone with the wind. So sad that many people still go along with this kind of scheme.
Thanks for sharing for everyone to be aware also. great post!
If only they actually invested the money into mininig contracts or physical miners.
I have been doing the maths i think it would be very profitable.
But scammers are usually dumb people who can't come up with legit ideas.
Thanks for sharing...
Thank you very much for your research and taking the time to write this post. Btw good article
thanks for the info :D
One of the sites I am currently using is called https://bitpetite.com/?aff=atanner It is paying still and I recently withdrew my first investment and reinvested a portion of the profits. I would recommend it.