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RE: JERRY BANFIELD - SCAMMER OF THE MONTH AWARD!!
Posting some knowledge "borrowed" from other videos might not be as bad as making FALSE FALSE FALSE claims, using misleading and deceptive practices, bait and switch tactics and so on. Feels like selling snake oil. Even those courses are sold on a FALSE premise and states untrue "facts" one after another after another.
If the man Banfield had an ounce of humility, he'd be offering his life 'courses' for free. He's making enough through this platform as it is - from what I can see anyway.
It is one of the marketing approaches. If something valuable is offered for free, people think that it has no value. Charge a very high price for junk and the dumbest public (or overly trusting ones) will buy it believing it that the price must be reflecting the value. Show them that "many other people are buying it" and hoard instincts will make people buy it just because others are buying it and the price seems right for so many people that such a big crowd cannot be wrong...
Then the fake crowd actually becomes the real crowd pulling more and more people in. The trick is to promote it fast enough like a pyramid so that new people would join faster than disenfranchised ones would leave and make their voices heard. Until exodus of unhappy people who make "pyramid bricks" happens in large volumes, the pyramid lives, grows and thrives. The ratio of incoming vs leaving reaches critical mass and the pyramid collapses. CLASSIC.
So the issue here is not about someone's decency, greed, humility or anything else - it is a very well thought marketing campaign that has multiple components, many streams and executed actually quite effectively (unfortunately damaging the community and this platform).
I'd agree with most of what you say above, but in Mr. Banfield's case it obviously is about greed. Who's going to run a pyramid-style marketing system for altruistic reasons? ;)
yes, obviously pyramids are ONLY made out greed and for the purposes no other than what is inspired by greed and every one of them is dishonest, at the very least morally dishonest, even if some of them pass as legal (barely).
People are drawn to the pyramids on false promises for the benefit of the top only. They cannot make their own money until they attract same "follower base" underneath them to exploit them in return. And there it goes the cycle.
Also another factor is that many people are chasing their losses. That is why pyramids have their "initiation" fees, "online courses" fees, "membership fee" and so on. Once they spend it, many people won't cut their losses even after they realise they have been screwed. Some will try to work hard to screw others the same way to get back what they lost and possibly make some more. That is the underlying dishonest principle in every pyramid.
This one seems to me like no exception.
thanks guys for opening my eyes. Anyway, I believe that I can use STEEM as a fundraising tool for our conservation program in Cameroon. So I am probably the example trying to use this pyramid for altruistic reasons. Actually searching for someone who could help me to create a fundraising strategy in cryptoworld. If you are intersted in it check this out @kedjom-keku or @treeplanter or www.kedjom-keku.com Thanks. Nice day