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It's beautiful to always have ideas and plans at every point in our lives

Describe an idea, plan, or decision (yours or someone else’s) that failed

Am not perfect, therefore failure in many stages of my life has been recorded. But am grateful that it happened so that I can be properly guided. They say failure is a pathway to succeed. One of such time were I thought I had it all figured out was some years back.

In 2021, I made a decision to join a particular online mining investment(Ponzi scheme). This online mining investment was became really popular because many young people joined it.

How I joined

I was introduced to this investment by a friend, she created a group and shared this idea to many people in it. I loved the idea because of how it was preached, the benefits or proceeds from the investment looked good to me.

But I had some doubts about it, at first I didn't want to join because I have been scammed several times. I decided to speak to a close friend of mine about it and she advised that we both join.

Fear left me when after one week I saw the people I was to pair with cashing out big time in usdt. I felt I could earn some extra cash from this investment.

How The investment works

Usdt what was what mined daily in this online mining investment. Every morning by a particular time in the morning, participants are to login into the mining app, and click on a button called mine. Then it's begins to mine usdt for the day. And after some minutes it's stops mining and you press on claim.

Depending on your category you could withdraw your profit either every 2 days or 4 days or 7 days. I did the package of withdrawal every 4 days. I saw friends withdraw money from it and I loved it.

How it failed

The mining investment as it was called was going on well. Infact they had like a customer care contact on telegram.

When you have a complaint you contact them, when you introduce any person to the platform,you contact them for your bonus and it given immediately.

I withdrew a couple of times say twice and at my third, I increased my investment so that I can get more and withdraw faster. The week I was supposed to withdraw, I logged in to the app but I wasn't functioning well.

I felt it was network issues, so I decided to go to the Whatsapp group of the lady who added me, then I discovered it was a general network issues. We were asked to stay calm.

I decided to go to telegram later that day and I noticed the customer care user has deleted the account. I got scared and called some friends only to be told that the investment has short down. There was chaos everywhere on what's, telegram and online generally. My money was gone. That was the day I was meant to withdraw. I felt so bad that I didn't cash out the last batch.

A friend of mine powered down his Steemit account just to join this investment that same week, he lost everything because he didn't cash out.

What was the original intention behind it?Why do you think it failed?

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My original intention joining this online mining investment was to have an extra source of income. The country was getting harder with the high cost of living, house rent increase, food items so expensive, not leaving transportation cost behind.

Having only one source of income at that time seemed so frustrating. I thought if I had something else like this one, by the end of the year I should have saved up enough money to start up a business offline.

Well, I think it failed because it was a Ponzi scheme. Even though at that time they denied been a Ponzi scheme. They claimed to be genuine trading company existing outside Nigeria.

It failed because it wasn't built to last. It was a bait set to lure people and their money into it.

What would you do differently if given another chance?

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If given another chance one thing I would do differently will be the following;

I would start big instead of small:

This simply means instead of investing a little amount just to check if it will work. I would invest a bigger amount so that it will shorten the days am to withdraw to every two days or every day. Instead of the one I did that was every 4 days.

I will stop the investment after two week

Because of how much I would put into the invest. Let's say every two days I would be making at least 25usdt. If you sum up 25usdt in two week it would be 150 usdt and two days left out.

150usdt will be much more than what I invested. I would cash it out and stop the investment immediately rather than putting small amounts and waiting for it to get to the long days.

But in my case I invested small and I kept waiting to get to my 4days before making withdrawals and before that two weeks it closed up.

I would do my research about the company better

I would not rush into any investment without first doing a proper research on it. I would even ask questions online about it to be able to know if it's genuine or not rather than allow results deceive.

I didn't carry out any research about them, I only joined based on what was told to me and based on the results I saw. Now I know better.

I would like to invite some friends to join this contest. @eveetim @sojib1996 @solperez