*SEC-S17W3- "Let's talk about Ponzi scheme".

Hi steemians! Welcome again to my blogging page.

[Image from contest source]

Have you ever heard about ponzi schemes?

The issue of ponzi schemes is one that eats up anyone that ventures into it without caution. I have heard about it, and probably there are a few persons who do not venture into it in my country when the MMM ponzi scheme was floated a few years ago. It was quite damaging to its users who indulged.

Ponzi would have been a good if there was longevity and continuity, but rather, it is a scheme or system that has been positioned to fail from the start. But unfortunately not all users know this fact and few who knew about this still throw.caution into the air and venture into it due to its high profits.

Have you been offered to invest in any of these schemes?

Like I said, there are few persons who do not participate in the MMM ponzi scheme of years ago. These few may probably be those in the rich class that do not want to tow such public routes of profiteering without guarantee.

Let's take a look at how these things goes, it is predominantly on the loose in third world countries or developing economics where the percentage of people living below and/or the middle class are greatly affected.

I invested, infact most of us invested in this scheme that closed up without our funds. It started all of a sudden with a platform issue with difficulty to have access to the site, and thereafter, it was history.

Do you know how to detect Ponzi schemes?

Every ponzi scheme always looks alike and has some keen similarities. These similarities include having this mouth-watering Ruturn on Investment. It comes with a high profit margin that is difficult to resist.

Secondly, it is another feature it comes with known as the referral feature. A task that involves bringing in your next neighbour or friend into the scheme. This is also backed with incentives that are irresistible.

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Do you think Steemit is a ponzi scheme?

I wouldn't know why the thoughts of comparing steemit without ponzi schemes as they don't share similar features. Steemit works on a different level, which is built on making great and quality content.

In steemit, you are neither coarced to bring in referrals nor have unimaginable profit margins. Steemit is like other social media handles that allow its users to interact and probably earn at this time.

In summary, ponzi schemes are like highway to the grave. The hype you hope and dump you when you're already up and expectant. It is important to withdraw from ponzi schemes no matter how alliring they may seem.

I want to invite @impersonal and @basil20.