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[Reznov]

are they any old ?

 

[infinitytech]

Till where I know,Ponzi schemes have been in existence since very long and have been looting money of investors!
It's also known as cash flow distribution!

 

[berberguy]

Yeah they are old , 18th century old
They have been named after the guy who started them who was an Italian with the last name Ponzi
There are some recorded similar scams , but the ponzi scheme is the one that got famous

 

[ELSA-ELI]

Till where I know,Ponzi schemes have been in existence since very long and have been looting money of investors!
It's also known as cash flow distribution!

I like that and I qoute"cash flow distribution".Basically people have taken it to extremities but yes the ponzi scheme started a long time ago.What brought the idea at first was to try and level the economic situation between Those who were too financially stable and those too poor.It was a way to drain the wealth in a fast way and try to distribute evenly,kind of like the robinhood theory.But now people see this as a business and sadly even the poor are robed now.DICRETION:this is a personal view.

 

[infinitytech]

I like that and I qoute"cash flow distribution".Basically people have taken it to extremities but yes the ponzi scheme started a long time ago.What brought the idea at first was to try and level the economic situation between Those who were too financially stable and those too poor.It was a way to drain the wealth in a fast way and try to distribute evenly,kind of like the robinhood theory.But now people see this as a business and sadly even the poor are robed now.DICRETION:this is a personal view.

Yeah,that's the worst part of Ponzi scheme sites that when they feel they have accumulated enough amounts,they turn scam,and all our money is lost!

 

[ELSA-ELI]

Yeah,that's the worst part of Ponzi scheme sites that when they feel they have accumulated enough amounts,they turn scam,and all our money is lost!

Indeed and I don't see value in such kind of deals anymore,its better to choose what you will be passionate to do,work harder and earn from it.It may not go smooth but it will pay off with effort.

 

[Reznov]

Yeah they are old , 18th century old
They have been named after the guy who started them who was an Italian with the last name Ponzi
There are some recorded similar scams , but the ponzi scheme is the one that got famous

oh wow,i thought that it's internet related only LOL, thanks for the information!

I like that and I qoute"cash flow distribution".Basically people have taken it to extremities but yes the ponzi scheme started a long time ago.What brought the idea at first was to try and level the economic situation between Those who were too financially stable and those too poor.It was a way to drain the wealth in a fast way and try to distribute evenly,kind of like the robinhood theory.But now people see this as a business and sadly even the poor are robed now.DICRETION:this is a personal view.

i actually never knew they took it from an offline scam method to online world lol, let's hope people be aware of it

 

[KarthikP]

If you are specific to crypto ponzi schemes , i think they are running from 2014 onwards. Before that not many people were aware about cryptocurrency.

 

[Reznov]

Yes they are very old, even before the introduction of internet. Ponzi scheme is simply a model of paying old investors with new investors money. This module has been practiced for a while now.

i don't think it works like that, that's more likely how banks work, you pay people with money you don't even own at the first place, i believe they pay chosen people they want

 

[Friday2u]

Quite true,Ponzi schemes has been in existence for long but the different measures they employ now to scam people is mind blowing. Most people at the start of the Ponzi schemes seems to benefit more and these are the promoters of the schemes but the people that invest their money latter,bear the brunt because their money will be made away with by Ponzi promoters.

 

[KarthikP]

Yeah these ponzis work thhat way. They get money from new investors and use them to pay to the old investors. And when the new investors stop investing , these sites turn out to be scam.

 

[Reznov]

Yes the banks also work like ponzis, but the difference is that the banks never run out of new money since they are bigger and known unlike ponzis that are created by individuals. The thing that causes ponzi to stop paying mostly is that they eventually run out of investors whereas the banks never run out. But nowadays people create ponzis just to make a quick buck unlike long ago when they used to last longer, You have a point though never looked at banks in that manner.

i don't think that running out of investors would be the reason behind that, they pay whoever brings a lot of people for them, so they don't lose a victims magnet

 

[Suave]

For some reasons, I personally don't think Ponzi scheme was introduced or began recently. Ponzi schemes must have been in existence for centuries now. It's just more revealing now and with varieties of strategies.
Even recognized financial institutions are not exempted from the list.

 

[Friday2u]

Getting the time Ponzi schemes started might be hard but a more focus point is the negative effect it has. Having the ability to discern a genuine or Ponzi investment schemes depends on the ability to critically evaluate the historical background of the the sponsor or company floating such offer. The attraction of such schemes is spurred by greed ,which Harper's on high yield or returns which tend to haunt at the bend of the day

 

[shrey1408]

If you are specific to crypto ponzi schemes , i think they are running from 2014 onwards. Before that not many people were aware about cryptocurrency.

Thats really a big time!
Its very upsetting that it has gained popularity very much and have scammed many people till know and continue doing so!

 

[Niftyicon]

Ponzi schemes have been existing for a while now and personally experienced one in 2017 where lots of people where scammed of huge sums. After that, I steered clear totally.

 

[a_jerobon]

I really don't know when this ponzi schemes appeared. I started working online and found them already existing. But one thing for sure is that they are growing alot as the time goes by.

 

[SCAMEXPOSER]

They have been in existence for a very long time both offline and online but they become more pronounced when lots of people showed interest in money making online.

 

[infinitytech]

Ponzi schemes have been existing for a while now and personally experienced one in 2017 where lots of people where scammed of huge sums. After that, I steered clear totally.

Before 2017 also hyips were present but weren't very famous so very less people knew about it,but slowly crypto's started getting famous and hyips became famous!

 

[Michalov]

HYIPS was famous since 2005 as i remember. Before eras fo crypto hyips were also a famous. For me it's kind of lotto. People here are trying to do their bit because they want to, although there is little chance of winning. Nevertheless, I still think it is better than a lottery.