Pyramid schemes

Discussion in Savings & Investments Plans started by Gelsemium • May 14, 2014.

  1. Gelsemium

    GelsemiumWell-Known Member

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    I always doubt stuff that seem too good to be true. If it seems too good to be true, it's probably not. I have a friend who invested in Telexfree (a pyramid scheme) and lost his money. He tried to convince me to invest, and I am so glad I didn't. Do you know Telexfree or similar cases?
     
  2. sully3333

    sully3333Member

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    Pyramid schemes are awful. They suck people in and change them, for the worse. The funniest one is probably Vector marketing. When your friends try to convince you that you NEED new knives, you know something is wrong.
     
  3. Gelsemium

    GelsemiumWell-Known Member

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    Yeah, the same with Herbalife, it's really bad, I could not do it. Telexfree was different though because we didn't have to sell anything, but we had to put money upfront and I found that really suspicious.
     
  4. Denis Hard

    Denis HardWell-Known Member

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    I don't know if this could be classified as pyramid scheme:

    Many years ago, a credit union of sorts was started by a number of locals. Their goal was to invest their dough in real estate. The members would continue making contributions until the credit union's [acquired] assets started generating revenue. I was pretty young then so it's my parents who got sucked into the game. In fact almost everyone in the community was in.

    The credit union members at one time demanded to see what the officials in charge had been doing with their money. They wanted to see the houses their money had been used buy/construct. The officials tried to stall but the truth came out eventually — the money had been channeled elsewhere.

    What could the credit union members do?

    They lost their money, that easily.
     
  5. Nickchick

    NickchickWell-Known Member

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    I couldn't believe that that was a pyramid scheme because they made it seem like a real job. They had an in person interview and it all seemed very legitimate. I thought I was referred by the college so I actually felt bad for bailing on the training. Someone did inform me a long time ago that it was a scam and that made me feel completely better.
     
  6. Gelsemium

    GelsemiumWell-Known Member

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    Yeah, I could never go for that. Maybe 10 or 15 years ago I was looking for a job and I went to one of this Herbalife "conventions" and I left in the middle. First, all of that looked like a church or a cult, and than I also saw I needed to sell those products to my family members and friends and I simply could not go through with it. Too fishy for me.
     
  7. JaydonTyler

    JaydonTylerActive Member

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    Pyramid schemes can be profitable if you get in soon enough. They are created in a way that favours the ones that were there in the early stages. Chances are, when you hear about one it's in the later stages and the profit will not find you if you join.
     
  8. Gelsemium

    GelsemiumWell-Known Member

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    I think pyramid schemes are not bad as a concept, there's nothing wrong with referrals or earning by recruiting other people, but I am always suspicious when the job is too simple and you need to advance with money to work and that's what happened once again with Telexfree, it was fishy from the beginning and I am glad I didn't join.
     
  9. Dora M

    Dora MWell-Known Member

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    I have never been tempted to buy into any kind of pyramid scheme, no matter how good they sounded. A friend of mine tried to convince me to become part of one, but I simply didn't believe that it would work, and I was right.
    I would like to hear from people who had success with this sort of investment.
     
  10. Mayvin

    MayvinActive Member

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    I was in Amway for a couple of years all pumped up with high hopes of becoming rich but after a while I woke up especially after reading a few articles on ex-members who talked about all the smoke and mirrors involved with being in that company. I mean there was only a small select group of people making it big at the top and also found out that the money they got wasn't from the program it was from the public speaking which was false advertising to the public. PLUS the fact that all the cars, houses and stuff they showed in the videos and pictures alot of it was fake ( rented ect... not theirs).
     
  11. mythman

    mythmanActive Member

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    They don't "change" the people; they just use the greed that's already there and--if payment comes before they 'wake up' and bail--use that greed's momentum to push them forward between payments.

    Why don't they separate between the early-starters & the late ones?---I know, because the early starters' start was greed-fueled so they figure that the late starters' start should be greed-fueled too. But what if they're promoting a REALLY GOOD product? Shouldn't they switch from greed-marketing to 'good use'-marketing?
     
  12. Gelsemium

    GelsemiumWell-Known Member

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    The motivation is always the same mythman, but take a look at the example of Telexfree, those who joined first managed indeed to make some money, but those who joined at the end lost their investment because the company was shutdown... We never know when the bubble is going to pop, but most likely your money will still be in there and you'll be at a loss.
     
  13. Gelsemium

    GelsemiumWell-Known Member

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    It sounds like you are just advertising for your business here. You site does look good I give you that, but at the same time it's not just about the site, it's what's behind it. For example and yet again, if you want to work and a company asks you for money to start with, does that sound legit at all? I would never do that and time just proves me right.
     
  14. beaulah

    beaulahBanned

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    I don’t want to work below of any company that’s why I say because I can give you great explanation about that. I just running mlm site using that company mlm script. So I talked about that. However you can understand how many potential visitors’ daily visits that mlm company through alexa rank tool.
     
  15. eppie

    eppieActive Member

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    I don't think it's a pyramid scheme since recruiting members is not required to earn money. But it's definitely an investment scam since cover-up and misrepresentation is involved just to generate funds from the community - just like in any other investment scams. :(
     
    #15Jul 5, 2014
    Last edited: Jul 5, 2014
  16. Gelsemium

    GelsemiumWell-Known Member

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    OK, I have no clue what mlm script is and I really have no clue as well what an alexa rank tool is either, this is the sort of things that makes me wonder, when people talk in code and says stuff I don't get I always get suspicious because that usually leads to people asking money and to scams, you know what I mean?
     
  17. Colebra

    ColebraActive Member

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    Alexa is a part of Amazon, and it's a company that provides information, such as traffic, about other websites.

    Please Log In to view this link!



    The MLM script is a real thing. And it's really weird. It really is like a cult thing.

    I have alot of friends working with one MLM company, and they seem to be doing very, very well.
    I was also involved, but I've left.
    I have a clue the thing is going to fall apart real soon... Let's see.
     
  18. Gelsemium

    GelsemiumWell-Known Member

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    So what exactly is Alexa and MLM scripts Colebra. If you were involved and your friends were doing well, why did you left? I am going to read that link you posted, thanks, but I think I lack technical knowledge to advance to those script areas, if isn't something really clear I am just afraid I get scammed.
     
  19. deathbyprayer

    deathbyprayerActive Member

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    My brother got into this kind of thing he lost all of his money including my college tuition which is thank God not that much. Whenever people get me into investing into things like this I don't bite the bait, when it involves huge amounts of money I don't get into it.
     
  20. Gelsemium

    GelsemiumWell-Known Member

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    That is really sad to hear death, I am sorry. I am always really suspicious when I am looking for a job and the first thing I am asked is an initial investment, what's the point, I want to earn money, not to invest in a company with strange goals. I was tempted to join recently, luckily I didn't because as I wrote above it bankrupt.