In the topic of Finance, I chose to speak about the theme of investment, and not just about that, but about scam Investments.
Many of us have awful experiences with scam Investments, and a good number of us have lost reasonable sum of money. Yet, Greed won't allow us look away from these investments because of the mouth-watery promises they advertise.
Ponzi Schemes are part of these scam Investments that have undergone series of upgrades such that they claim affiliation with top projects in the financial space, and you may easily fall victim if you don't do your due research.
In the video, I spoke about my experience with Ponzi Schemes in 2016 - 2017 during the wave of Mavrodi Mundial Moneybox (MMM), Clarrita, Twinkas, Giver's Forum, Ultimate Cycler, I-Charity and so much more, in Nigeria. It was really hot that period, and I'm sure I joined nothing less than 20 different Ponzi Schemes before I realised what was really going on.
Ponzi Schemes also introduced me to Cryptocurrency the very first time in 2020. It was the first time I downloaded Trust Wallet, I learnt little about it and how to operate the smart contract associated with the Ponzi. As at then, Million Money, Authoetherbot and Forsage were on the rise. We had to buy Ethereum to transact, and i learnt about Gas or Transaction fees. This was different as it wasn't in our normal currency, so I felt it was legit. But, we learn our lessons. And it was from here I first calculated the required way to complete all stages. And I discovered it was almost impossible.
Many of my friends who had purchased up to 2 - 6 Ethereum that period, as ETH was around $100, regretted their decisions to transfer the ETH for upgrading to the next stage. Some don't even want to hear about cryptocurrency anymore.
But, I'm really glad I had such experience as it helped in building me.
The truth is that the people advertising Ponzi Schemes do not tell us what is really involved. They say, just bring two people, and the two people will bring two people. Then your line keeps growing... blah blah blah... and you keep re-inesting your profits till you get to level 10, and we give you a Car, or Trip to Singapore.
Damn!!!
That's a real scam, you know?
When I was in Autoetherbot, a lowbudget version of Millions Money, someone was willing to create more than 100 accounts to ensure that we finish the whole levels and get about 14 ETH for each account.
As a tactical person, I did the placement and it was easier for me to onboard people because I was assured that yea, everyone will win.
Yea, that's me! Everyone can win!
But when it was taking so long to complete the 4th level, I then took my time to calculate this. Then I realized that it was really a shit hole.
This is the calculation they won't tell you, because it is so complicated, and not everyone will understand it. But, in all, you'll need about 2046 people under you to receive your complete payment in Level Four. Just Level Four oooo....
Ksam pays his upliner and upgrades to Level 1, to receive Level 1 payment.
1 and 2 pay Ksam... Ksam receives payment for Level 1
Ksam needs only 2 people in the first level to pay him
Ksam upgrades to Level 2
To get payment for Level 2, Ksam needs to receive payment from 3, 4, 5 and 6.
But before they pay Ksam to upgrade to Level 2, they (3, 4, 5 and 6) need to have paid 1 and 2 to enter level 1.
Then, they will receive their level 1 payments from 7, 8...14.
Ksam needs only 14 people to completely receive his returns in Level 2.
Ksam upgrades to level 3
Thus, Ksam needs a total of 126 Complete downliners to receive his Level 3 payment.
It starts getting really difficult as Ksam may wait till eternity to receive his complete level 4 payment. This is because, Ksam needs to receive level 4 upgrade payment from members in 15, 16…30. And to upgrade to level four; they must have upgraded from level one to level two, then to level three, and finally level 4.
This implies that Ksam needs a total of 2046 people under him to successfully receive his payment for Level 4.
This is only level 4!
How far are you going to build this community?
And this is for you to successfully earn at that level. What about your downliners? The calculations begin with them at the top.
In everything you do, I strongly advice that you run away from Ponzi Schemes, no matter how they present themselves. Some may tell you that you are working for the organisation and it is your responsibility to bring more people so that more money can come in. However, in so far as it is Ponzi, run away or if you're ready to fight the fight, then fight on!
However, always identify the risks involved in any investment before investing.
Have you experienced Ponzi Schemes before? What do you think about it?
Let me hear what you think in the comment section.
I may not be your favourite author, but you can journey with me to help me develop my writing skills. I am always open to criticism, correction and learning 🥰.
▶️ 3Speak
