SEC-S17W3- "Let's talk about the Ponzi scheme"

Crying was my food when I woke up one day and realized that my money is no way to be found.

Welcome to my blog!

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Have you ever heard about ponzi schemes?

I never knew about ponzi scheme untill, I came across this challenge topic and I realized that have been falling a victim on it many times.

In that note, I will yes! In my country, people used Ponzi schemes as a means of generating money quick. They do it as a business, where they will make sure they dupe people and become rich in a trickle of an eye.

Ponzi scheme has cause a lot of harm to people who fall victim of. As a victim before, I know what I pass through before I could recover. They come in a way that if you're not a hardened heart person, your will key in to their tune and at the end, they will make life miserable and unbearable for you.

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

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Yes, have invested many times on ponzi which I was not aware. They operators make it look very real that you can easily take off your mind.

The one that pains me most is the last one I did, year 2023. It was called otto. My co- pregnant woman introduced it for me as at then. The advert they display, picture looks real when you login to their page. Otto come with different packages that is very attractive.

After telling her the experience I have so far and the reason I didn't established my own business because of ponzi frustration. She still say I should give a try that she can testify that otto will last and come to stay.

Hmmm, I foolishly used part of the money I wanted to buy some of my baby things, add with my hard earned saving and registered on Otto and get a package for children with the hope to get my money back in 15days.

There was a rule that one can make withdrawal from a certain amount, so everyday, I will login to my page and claim the money to my wallet with the great mine to place withdrawal on the 7th day which is a week while I continue claiming till the 15th day is complete.

Only to wake up early on the fourth day to claim as usual and realized that the page is not opened. I try and try but I couldn't login. Oh my gosh! My heart was bouncing heavily. What will I tell my husband!

I called on the lady who introduced me immediately and she said that's what she observed when she try logging in, in the night. I keep on trying till the end of the day. Same happens the following day. After few days, I know that the platform is no more working.

I was useless as I didn't know where to get money and compete my baby needs. I got angry with the woman, called her everyday with several missed calls. Blaming her that she is the cause of everything. That what does she expects me to tell my husband when he asked me of the baby things I was supposed to buy.

Hiding cry and thinking was my food. After days with no results, I decided to put myself together as depression and cry is not healthy to me and my unborn child. I regretted making such a silly step and from that day, I crossed my mind from any put 15k and collect 80k.

Do you know how to detect Ponzi schemes?

I fall victim of ponzi scheme because I didn't know how to detect them but now, with the experience I have with them, I say yes.

From experience, below are the rules I will uses to detect Ponzi scheme;

• The amount to earn will be huge in such a way that you will be attracted to register.

• Once registered, they will give the introducer a bonus. In other for your money to increase and get paid, you're referral is paramount.

• Like plus500 I joined, there was a specific time/day to place withdrawal and the duration for you to receive your money was within 72hours.

• Your money expires in 24hours if you fail to claim it to your wallet.

• Earning depends on the amount you invest. If you invest big, you have a chance of gaining big. When it now hook them and couldn't pay the investors, the operators will fold up ponzi and run away with people money.

• The amount of money to get registered and become their member is huge.

Do you think Steemit is a ponzi scheme?

No! I remember that when I was introduced to steemit, my registration was free which tells me that Steemit is not a Ponzi scheme.

You get paid in steemit only when you create quality contest, comments meaning fully on other post, invest and support other through upvote.

There's more transpiracy in steemit than Ponzi. There's no promise in steemit that tell you, if you're have not introduce a new member, you will not grow or been paid. Rather, consistency, patience and deligency make a member in steemit to grow.

Lastly, no restrictions of withdrawal. No time limit and no duration for you to get your reward.

I called on @ogechukwu-martha, @seanscyril and @chiomy810

        Thank you.