HYIP AND WHY YOU SHOULD AVOID IT

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Hello guys, its @pasaift.
Today actually makes it 12days since the infamous site for cloud dogecoin minning dogeminer shut its doors to investors, holding their investments hostage. How it worked, was you'd buy a package for mining depending on the depths of your pocket. The higher your investment, the higher your reward. Till date the website just shows restart coming soon.
I have lots of friends that invested in this and are corrently rekd. Glad I didn't participate after lots of convincing.
Below is a conversation between a participant and a group admin.

Well this is just an example of the hyip platforms out there, and how they exit with your funds.

What is a hyip?

"" A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors.

High Yield Investment Programs (virtually means the same thing as ponzi Schemes)
Ponzi dates far back to the days of Charles Ponzi (1920) who swindled lots of people by convincing them of getting high rewards. This high rewards promised actually came from new investors and not his own pocket. Old investors benefit from the newbies coming in, and once that supply is cut, the whole business crumbles.
You may see adverts and promotions of these schemes, but do not be decieved. There is always foul play. Those promoting may have been paid to do so or a reaping the benefits of a free account.

Now you have an idea of how these hyip work, you know that you ought to avoid them no matter what form they come in and how enticing they may be.
Note that the first sign that whatever you are jumping into may be a hyip is that it actually involves you putting your money/ investing your money and get a high percentage in a short time frame, and usually without you putting any effort or doing any work. .

Be wise and also carefully invest your money. Thanks for reading.