What is GladiaCoin?
One Bitcoin is good. But do you know what’s better than one Bitcoin? Two bitcoins. With that in mind, GladiaCoin claims to “double your bitcoins in just 90 days” using the power of a binary network. You receive your bitcoin earnings every day “without the need for boring daily activities”. The company claims you can earn gains of 5 to 15%.
Other advantages include complete automation – so you literally don’t have to do anything to double your bitcoins. Best of all, GladiaCoin claims that it’s simple for beginners to use.
The MLM underbelly doubler business model is nothing new. Affiliates sign up and invest, with a 200% ROI offered either via a set timetable or open-ended.
“Ponzi” schemes promise high financial returns or dividends not available through traditional investments. Instead of investing the funds of victims, however, the con artist pays “dividends” to initial investors using the funds of subsequent investors.
The scheme generally falls apart when the operator flees with all of the proceeds or when a sufficient number of new investors cannot be found to allow the continued payment of “dividends.” This type of fraud is named after its creator—Charles Ponzi of Boston, Massachusetts. In the early 1900s, Ponzi launched a scheme that guaranteed investors a 50 percent return on their investment in postal coupons. Although he was able to pay his initial backers, the scheme dissolved when he was unable to pay later investors.
Tips for Avoiding Ponzi Schemes:
the only source of revenue to pay the ROI is subsequently invested funds, making every doubler a Ponzi scheme.
HYIP scams have been using it with fiat currency for years, however recently there’s been a surge in cryptocurrency doublers. To the best of my knowledge, the first scheme to combine cryptocurrency with the doubler model was GladiaCoin.
Whereas HYIP doublers typically used forex trading as the ruse behind ROI revenue, cryptocurrency doublers use trading the currency itself. Proof of trading of any kind is of course never provided.
Well before the initial 90 day maturity period was up for initial investment, GladiaCoin ran into problems in late May. On May 19th, GladiaCoin suspended affiliate ROI payouts for five days citing “conditions of the blockchain network”.
GladiaCoin's too good to be true opportunity has finally run its course. It's not longer an opportunity that steal money from the bottom feeders. We hope that you were smart enough to not join at all or if you did, that you got out before it was too late. These opportunities will keep popping up (maybe even with the same creators) as long as people are willing to look past the unrealistic promises.
" study first before investing in a cryptocurrency world "
hopefully helpful - goodluck guys :)
