Hope you enjoyed My crptojourney 1 (MLM) (https://steemit.com/cryptocurrency/@drepo15/my-crptojourney-1-mlm)
After saying no to MLMs, I was introduced to HYIP (high yield investment program) which looked really promising and stress free. I opened an account on Aimbtc.com, I got many friends to do same as there was no significant pressure to get referrals as was the case in MLMs.
)
Aimbtc presented itself as an online mining company and promised compounding interests, so the longer you left your Bitcoin on their site (i.e. ur deposit in their wallet address) the more you earned. They had a UK office address and several documents making it look really legit. I made some money from it, I had a friend whose initial capital was doubled in about 20days. All deserve made it look too good and I ignored the red flags which were
1. A central account was been used
2. No mining business could give so much interest and decide to just dash it to people all over the world.
Then it happened one day after running for about 5 months, the site stopped opening and we started waiting hoping against hope that it was just an Internet glitch but it all proved futile. Then I realized
1. HYIPs are scams
2. These scammers had carted away with people's hard earned Bitcoin.
3. They were actually paying participants from the deposits of other participants.
4. They stayed long enough to rip as much people as possible.
I felt so bad for my friends that I introduced, some had borrowed hundreds of thousands to participate. DAMN, WE WERE SCAMMED.
)
I was really pissed but greed (also felt i could be smarter) made me join another HYIP (knowing full well it was another scam) two months later, MINR.BZ because I felt the site was still young (30days), promised payout was in simple interest so I thought the site will last for at least another month. I decided to go in big to recover previously lost funds and stay for just 10 days.
)
Barely 5 days after making my deposit this site also crashed and it became my greatest singular loss in my crptojourney and I'm yet to recover from it.
SAY NO TO HYIPs no matter how promising it looks you may just get burnt.
Forget all HYIP they will fail one day ..sooner than later due to their unrealistic commissions and payout..most are scams and I wrote about them on my blog post. Good luck here.
Feel free to check out my latest blog post : Why Steemit will disrup social media and gain market share
tanx
welcome
Trading altcoins is profitable, more especially when trading with stop loss on poloniex
We are in crypto world now
true
Wonderdul i like it
i lost fortune...but cryptocurrency has been putting smiles on my face daily...was it making $1000 profit of trading with altcoins in less than 2 weeks? was it the joy steem put in my heart wen shoot up 100% or more....am glad i join the winning teem
great
Glad u recovered ur losses
Somewhere, at this moment, someone is putting money into yet another HYIP (ponzi program).
So long as greed persists, they'll always be yet another ponzi program.
Questra AGAMs is a case in point. Many will soon be scammed by these shady characters.
Bitconnect, even though listed in coinmarketcap is just another ponzi in disguise
very true
dey jst play on the greed of man
It is,true
good info
tnx
good tiddings
better tinz ahead
Congratulations @drepo15!
Your post was mentioned in my hit parade in the following category:
awesome
Lost half a million Naira to mmm united but tnk God, started trading on march this year and have fully recovered all my losses.
gr8 testimony
Crypto to the mooon
I cannot forget AIMBtc in a rush, my brother can't either. Lesson learnt.
Lol
i can imagine
we really lost a lot
Nice article @drepo15. In as much as ponzi was the undoing of many youths. It was a blessing in disguise for some of us, because it introduced us to the world of digital currency.
One of the reasons why most of us actually fell victim of these ponzi schemes is our greed, our get rich quick mentality and it was our undoing. Most of us lost a fortune to all these ponzi schemes. But thank God for cryptocurrencies trading, we are on our way to recovery.
yeah....dats y its a journey
Ever since i started trading altcoins, i have always wanted a more meaningful insights which your post just provided.thanks
u welcome
Yea. Ponzi and hyip programs actually have caused more harm than good.
And now here is a way out to earn big!!!
exactly
Ffact
yea
I lost a lot from hyips
Sorry about that , most of us lost our hard earn money their!
sad
Pls you guys should let dreamchasser know that some ppl are unable to msg in the telegram group because of restriction. Pls something should be done or they should be directed to a whatsapp group. Thanks.
Its a good suggestion bro...it should be announced at d telegram ASAP
Contact @spambot... You should get released.
Or PM @dreamchasser
I'm restricted that's y i'm complaining in the first place. We are restricted,unable to do anything but watch can't even pm. Pls guys pass the msg accorss. It would be appreciated
I tell you..... HYIPs are cancer to our hard earned money 😑
very correct
Lol
Oh bro, same here oooo. Hyips and ponzi is a NO NO
experience teach a lot
Nice piece
tnx ma
Crazy criminals all around us.
i tell u
They stole a lot from me. Still haven't recovered yet
I had a similar experience with Bitwise.biz..luckily i didnt invest much
they are basically all the same
Sometimes I feel like weeping due to the level off loss I incured in my HYIP/PONZI journey. One thing is certain: the spirit of HYIP is driven by two factors namely, GREED AND ADDICTION. Thus, the best way to avoid being harmed by this monster called PONZI is to not get involved at all.
very true
Very true
Hmmm.... Sad experience, something to learn from...
yea
very clear,,,, pple do things not koz they don't know the implications buh hopes theirs may be a lil bit different and they'd not get to be the victim!!!! +20000 steem for u bro
tanx
Pls you guys should let dreamchasser know that some ppl are unable to msg in the telegram group because of restriction. Pls something should be done or they should be directed to a whatsapp group. Thanks.
ur msg was passed across
check d replies on ur former comment
Ok thanks a lot. But we are still waiting to be able to contribute. Something should be done pls as it's fustrating.
That hyip suffered me alot Oo.......trafing cryptocurrency as been the best of all that happens to me this year
true words
Good u realise earlier that they are all out to scam ppl. Many are still falling for them cos of greed. Crypto is here to stay, lets tap into it..
true
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STOPNice post.......
tnx
Not only brother...I also lost huge money to hyip Scams too.....since then I have learnt my lesson.
experience makes us better
Mmmunited , aimbtc, lara(telegram bot)
And many MlM's made me realize that trading is the only legit business
True words
Yours isn't even much... I really don't need to start counting the hyipsi have participated. This page simply can't contain ☺
The advice again: STAY AWAY FROM HYIPS
I agree with you
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STOPI guess I've been in same shoe with you before
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