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Can Ponzi Scheme Ever Work Again In Nigeria

Discussion in 'General Business' started by Ebuka, Jun 8, 2018.

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  1. Ebuka

    Ebuka Member

    I have idea of starting a new ponzi scheme but i'm having doubt that it will not work again in Nigeria.

    The idea is 1k to 3k in 5days. Please I need advice if this could be a nice investment. Note that I don't have the mind of stopping it soon or introducing plan that will hurt the brand.
  2. Yini_Katche

    Yini_Katche Moderator Staff Member

    Permit me to laugh , no offense meant really. The thread just amused me so much , after what I've seen first hand in ponzi.

    Ok now what is ponzi ? What is usually the Admins' acclaimed aim/motive? Is this aim achievable? What is their true visible motive ? what are the pros and cons of ponzi and which outways the other ?

    I'm positive that anybody who has experienced ponzi can answer the above questions , and by now is thinking what I'm thinking. NO , PONZI CANNOT WORK IN 9JA.
    For the sake of people who don't know about ponzi , I'll shed little light on it.

    What is Ponzi?
    Ponzi aka crowd funding aka peer-to-peer is a system where money is passed round among a group or community of people online. It's not like new money or value is being created , an individual donates some money and this money "grows" at a certain percentage over a given period of time.
    Here's how it works.... A person or group of persons set up a platform (usually website) where people signup and donate money to either a central account or fellow participants' account , after the set time the donor(s) receive the donated amount plus additional percentage as stated.

    Note that I mentioned earlier that no value or new money is created , hence the success of the system depends greatly on influx of new members so as to meet up with the extra "growth" on the donated money.

    Where old members receive money and don't re-donate , or they receive and re-donate a lower amount , or no new members join to fund the system , this becomes a major issue as the system lacks funds to pay donors due to receive. At this point , the system crashes.

    What is usually the Admins' acclaimed aim/motive?
    They all say that they want to help people reduce or eradicate poverty , they say they want to reduce financial stress.

    Is this aim achievable?
    Capital "NO"!! From the above explanation , seeing that ponzi does not generate new money it is not possible to reduce let alone eradicate poverty. This is because at a point , the same people who need help will end up losing money when the system crashes.

    What is their true visible motive?
    Funny how Ponzi Admins say they want to help , yet when the system crashes they move on to create another site. Also , it was discovered that these Admins cash out big which is also a common cause for a system's crash. Again , it was discovered that these Admins sometimes have a misunderstanding and would breakup , and the vexed one(s) would go create their own site.

    What are the pros and Cons of Ponzi in Nigeria?

    In the early days of Ponzi , the first set of people to join a system used to enjoy successful participation for quite a while before the system crashes. During this time , their financial stress is truly reduced.

    Sadly , when the end comes the same are trapped. At this point some have borrowed , some use fees and rent etc. Also , the most affected are usually the people who join late.

    Now to the question if Ponzi can work in Nigeria

    So my stand on this is firm , ponzi cannot work in Nigeria. Ponzi is not even a form of investment , it is an avenue to rob unsuspecting Nigerians of their money.
    Lisa likes this.
  3. Lisa

    Lisa Moderator Staff Member

    May God Almighty bless and add to your age @Yini_Katche. After what twikas and mmm did to people in Nigeria. No Nigerian can ever appreciate these idea anymore beside @Yini_Katche just said it all, where new money ia not generated and investment is not made with the current money, how do you expect it to grow? Anyway this is no a good idea @Victor. It's a BiG capital NO.
  4. serome

    serome Administrator Staff Member

    Ponzi is a game of loose and gain. Only the admin stands a high chance to gain from the scheme before it's managed by him/her, and they know when it about to crash where they will be left with no other option than to gather the other money and run. I will not advice to invest on ponzi or open ponzi website in Nigeria.
  5. ujoh

    ujoh Member

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