*SEC-S17W3- "Let's talk about Ponzi scheme".

Good morning friends ,how are you doing and your family i hope you are all doing well and fine too am writing a post about ponzi schemes this is an opportunity for my to really express what i have been through i the hands of scammers

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Have you ever heard about ponzi schemes?

I like by defining what Ponzi scheme is I think Ponzi scheme is a fraudulent investment scam that lures unsuspecting investors with promise sky high profits with no risk.

Ponzi scheme sustain themselves by using funds from newer investors to pay off earlier one's .Ponzi scheme relies on steady inflow fresh capital to provide return to earlier backer

I have heard of Ponzi schemes the first time I heard about it was around 2010 .this people opened their office very close to my father office and they started moving from one shop to another looking for customers and they actually made a lot of customers around there because the came up with this idea that when you invest some amount of money they double it within 7 days and the first set of people that invested with them where actually paid And these first of people go around to tell other people that the company paid them and that they have made profit any one that hear it will run to there office and register .that was how they were able to make people to trust them and before you know it one day they close there office and disappear with people hard earn money

Have you been offered to invest in any of these schemes?

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I had been offered to invest on several occasions
The first time they made me an offer was around 2015 then there was this popular company trending that year that they double money for people when you put in some about off money and within some days they will double it for you.

The all things was just trending everywhere mmm that was the name then mmmm every if you don't join it will look like you don't take money or you are to lazy .so most of my friends were already into it and the we're cashing out already
So the kept pressuring me to join a make money with them but I refuse knowing filly well that this most be a scam and base on my experience I refused to join and before you know it the thing crashed and all my friends money and so many Nigeria's money just went down the drain that was one of the most popular Ponzi scheme among Nigerians till date

Another one was Gold mine it was just like mmm then around 2018/19 this program Goldmine was very popular in my school then it was been ran by almost all the student and even some teaches then in school the first people that registered it really cash out , most of my course mate cashed out then I was still offer to join but I refused because something was yelling me that I was a Ponzi scheme that it might crashed some day

I kept saying that to people that asked me to join but one day the owner of the company up there games they started using celebrities to advertise their company and one of the celebrity they usrx was one of my favorites cele called Davido

So when the used this guy for their advertisement the thing really made to change my mind about the company, am the one that now convince myself to join the platform at least maybe I will just cash out even if it is one time

So I called one of my friends that have been disturbing me and we downloaded the app on my pjone and I started pressing one particular button on the app every money when I press the button the money will like roll up and I have to repeat it for 30 days and I invested 28 000 naira on this one

So one morning I wake up and I carried my phone and go to the app and press it as usually ooo the app started hanging I was like my 28k can not go like that so called my guy and ask him how far he said that the are updating the app I said ok up till today the app is still updating that was how I lost my 28 000 naira

Another one happen this one came from my course make he said that there is this guy that is very good in forex trading then that he is double money for people he doubles what ever you give him monthly and that the lowest investment is 100k and he showed me how much he has made and some of my course mate that were into it

So decided to dive in nothing knowing that it is another scam within some weeks the forex guy told us that he lose a lot of money while trading that he can't continue the trade that he is going to return our actually capital to us on one or two weeks that we should give him time which we did because we have no choice and I didn't even know him in person the y said the guy is stay in aba while we are in Anambra state so they man kept posting us in till we are tired that was how my 100k went down they drain again

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Do you know how to detect Ponzi schemes?

Then I don't really know how to detect Ponzi scheme but know any body or any organization that asked me to bring money that they are going to double it for me it a clear scam and I will never fall for it again

Do you think Steemit is Ponzi scheme

Steemit is a clearly not a Ponzi scheme because it does not asked for money for registration or any form of money or promise to double money or anything like that .steemit is unlike any online program that I ever seen before it is very genuine and legit ,steemit can not be compared to anything that i had experienced before

I'm inviting @josepha and @simonnwigwe