Today I was listening to my junior sibling and a friend of his having a conversation about a Ponzi Scheme that they both have invested in and how the friend to my bro has received his profit after the given number of days you need to wait for your profit to mature for withdrawal, and from the conversation that of my bro is yet to mature for withdrawal.
As the conversation was still lingering between their two I had to get closer and joined in the discussion acted like one with an interest to also invest too, from which I started asking them questions about the platform, the name, how it works and from what channel do they get informations about the platform.
From what they said::
* The platform name - KDB
* How it works - that after investing you have to wait for 5 working days for your investment to mature and yield profit before you can start making withdrawal, and for each person you bring in to register through your link you have a 10% interest of whatever amount they invested.
* Channel of information - telegram group channel.
After gathering all those informations from them I wanted to explain to them how what they are into is called a Ponzi Scheme and how it can crash at an instant and they lose their money and that it's a syndicate of scammers that's hiding behind the platform waiting for the right time to elope. I felt like talking to them about bitcoin and how's of guaranteed security than any of those schemes or cryptocurrency. But when I looked at their countenance about this socalled scheme I was moved to hold my peace and let them learn from the hard way, as it will be more understood by them if they learn that way maybe they will give audience and interest to bitcoin when I'll have to introduce it to them after they must have been stinge by the KDB Ponzi Scheme. Because from their expressions there's nothing I will say at that time negative of the scheme that will sound truthful or make sense and I wasn't ready for argument neither.
I do want to know if my idea or decision on this is the right way?
And also have you come in contact with people that invests their money in any ponzi scheme and tried talking them out and what was their response ?
Meaningful opinions are welcome.
There are many schemes these days that lure people with good returns and later run away with their money. The mechanism of these schemes is such that they give good returns to early adopters but later adopters lose all their money. The maximum profit in such a scheme is given on referring other people due to which everyone tries to attract their relatives and friends to invest in these Ponzi schemes. Thus, many people are brought into such schemes. In recent days, a scheme was running in the name of MTFE, which has escaped with a large capital of people. Many of my friends had invested in it and asked me to invest too, but since I don't believe in such schemes, I asked them to withdraw their investment as well , but they didn't believe me, because the mechanism of these schemes is such that people easily fall into their trap. They do not understand anyone's explanation, unless they have been deceived. You did a great job telling your brother and his friend about the Ponzi scheme. Most of the people in these matters are not ready to listen against these schemes because they only see profit.