Quote from: Mpamaegbu on July 11, 2025, 02:09:05 PM

Quote from: GPVibes on July 09, 2025, 11:19:50 AM

That they were into products selling and advertisement. I told the person I don't get involve in such, that it is Ponzi and will end in closing up.

We get to clear something here. We get MLM (Multi Level Marketing) and we get Ponzi. Both nor be d same, though people dey mistake wan for d other. Nor be every "bring two people to bring two people", that's referral, be ponzi. If a particular investment project get referral programme and get tangible products wey dem dey market ad people dey use dem, na MLM be date. But if dem nor get tangible products, and na just promise of investment dem dey depend on, run. Na ponzi be dat.

I understand that in terms of products that are physical or that they have contact address that is physical and traceable to (as MLM), that's those who carry bad all over the streets. And those that you don't see products that they sell (as ponzi). Yes they have same way of recruiting even though MLM is physical recruitment but what is the difference with ponzi where people carry bag for years with promise of achieving some greatness, they carry it for long and at the end they won't get they were promised. Is that not scam? Is that not also ponzi? I understand that some marketing companies selling herbal medicine or supplement exist under that MLM but lots of them are scam too.

Quote from: Mia Chloe on July 11, 2025, 03:29:33 PM

Ponzi scams are actually one of the most common types of scam and also one of the oldest too however the reason you see people still fall for them is simply because they are greedy and usually want to take advantage of what they see as a big opportunity to make alot of money which eventually ends up getting them scammed. It's high time people actually recognised the fact that the more greedy and naive you are the higher the tendency of you getting scammed.

Apart from greed which I accept could be the number reason but lately I have also looked at the aspect of hardship from the economic situation in the country. The joblessness of people have also made some people to have another kind of orientation of let me be surviving with this for now. Like people know it is a scam project but because they don't have meaningful source of income, they want to quickly go in with the little they have with the hope to get out faster but they end up being hooked most of the time. For example the person I shared the story on that wants to get back lost money is pained because of that money lost. So had it been the person is sure of getting the money back from salary or something like income maybe they won't consider trying the second time after losing the first time. Lack of job is also a contributing factor or risk factor.