SEC-S17W3- "Let's talk about Ponzi scheme".
| Asslamu walaikum to all my steemit friends |
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Being a part of the #scoutsysusamigos community's 3-week engagement challenge season 17 on interesting topics connected to this Ponzi scam excites me. I'm from Bangladesh. Hello, I'm @synthiaDisha. Before I start my post, I would like to extend an invitation to my friends @suboohi, @pea07, and @enamul17 to participate in the challenge. Kindly forward this contest post URL to others.
| Have you ever heard about Ponzi schemes? |
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I am familiar with Ponzi scams. It occurs when someone approaches you and makes a suggestion, as my friend did. She offered me a little cash commitment in exchange for rewards if I completed the chores and recruited other people, which is how she convinced me to join. I declined since I lacked the funds to make an investment. She lost money, too, when the chain broke and some people decided not to promote despite her best efforts. She eventually got her money back, but only later did she realize that it was all a Ponzi scam that collapsed when people stopped joining.
| Have you been offered to invest in any of these schemes? |
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Yes, family members and even classmates have reached out to me to tell me about Ponzi scams, but I have never felt comfortable taking part in such activities. The thought of earning money by persuading others to invest their money did not sit well with me. Even though some of my relatives joined these schemes and told me about them, I always chose not to participate in them. My college buddy was involved in one of these schemes as well; I'm not sure if they made money from it.However, it ended abruptly because of low participation, which resulted in financial losses for all parties involved. That being said, it's positive that some investors got their money back.
| Do you know how to identify Ponzi schemes? |
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There are several telltale signs that we should be aware of in order to spot Ponzi scams. Often, they start by asking for an advance payment, known as a registration fee. Then, with the promise that you will make money off of their investment, they will beg you to invite other people.Another thing to watch out for are direct messages and social media ads, especially on Instagram, that seem to be offering online jobs but really want you to recommend others instead of giving you the job specifics.A Ponzi scheme may be involved, so it is better to stay away from anyone who asks for money up front and relies on you referring others instead of providing a genuine commodity or service.
| Do you think Steemit is a Ponzi scheme? |
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No, I do not believe that Steemit is a pyramid scam. When I initially heard about it, it caught my interest in the same way that we prioritize and get compensated for high-quality content on YouTube. It operates on similar principles: we submit our excellent work and receive payment for it.I never thought of this platform as a Ponzi scheme because everyone contributes content and it contains a lot of expertise. Even if Ponzi scheme fraud is common, Steemit is a trustworthy platform where we won't have to worry about losing money. We are sure that our awards are safe in this location and that we may access them when required.
All people offer prayers for me. I appreciate you taking the time to carefully read my post.
Best Regards
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.