Fibonacci and Ponzis
I have often seen the Fibonacci sequence used as the means to get people to sign up to Ponzi schemes. I wonder why this is, does it lead credence to the scheme because it's a fancy name, or do people believe that since it is a mathematical series it could have some magical effect and make money?
The Fibonacci is beautiful it is just adding the last two numbers of the series- 0,1,1,2,3,5,8,13 etc., it was supposedly discovered by Leonardo Fibonacci in the 13th century, at least he pointed it out, and I know it has been thought of as golden ratio and is directly related to fractals. Of course I am no mathematician but have always been attracted for some reason to this sequence, I believe because of it we can learn many of the universe's secrets. I do believe the topic of the Fibonacci series deserves more space here at Steemit, but from knowledgeable people.
But I sure don't believe you are going to make money on a scheme where you put money in and it will start magically spitting out money to everyone who does this because of a mathematical sequence, this is where con men come in, and in a way I respect them, they have this unsettling amorality and they can actually take your money and you feel like they are doing you a favor. I would advise you not to put your money where the Fibonacci sequence is mentioned.
Hi gduran,
My name is Reda, and I lately thought of a concept that uses Fibonacci series and Ponzi scheme. This idea gave birth to Fibonzi which is live on www.fibonzi.com. The 'game' runs on the Ethereum blockchain. For now it is merely an experiment (even if we have some users using it), but we will soon release new features.
I didn't know the "fibonacci sequence" was or even heard of it before. Interesting. I don't see how anyone could invest in something based on a mathematical equation.
This is just an example:
July 23, 1998 — A certified public accountant and by his own estimation “no dummy,” B.... W..., first heard about the Fortuna Alliance — a promising investment opportunity being advertised on the Internet — from a colleague in April 1996. That same evening, he visited the Web site and read about “a unique mathematical formula” called “The Fibonacci Sequence,” whereby each member could earn up to $5,000 per month, in perpetuity, as soon as he or she had recruited 300 new investors.
REASSURED BY quotes on the site from dozens of satisfied customers and by a 90-day money-back guarantee, he mailed the Web site’s operators a check for just less than $5,000.
Unfortunately for W... and other soon-to-be-dissatisfied customers, the Federal Trade Commission had not yet concluded its investigation of the Fortuna Alliance. The following month, the agency asked a federal court to shut down the site, which it said was advertising a classic pyramid, or “Ponzi,” scheme and to order its operators to pay restitution to investors."
I personally have seen this type of Fibonacci scheme advertised many times on the internet.
Yea, that sounds like High Yield Investment tom foolery.