Have you dudes or gals tried to earn with passive income
@chrystaltears (3392)
United States
February 6, 2012 6:55pm CST
You know like doubling your money in 24 to 72 hours or so? I was reading up on alot of that last night. Sounds like some easy money. They said it was kind of, or a form of gambling. You can invest so much on some and double your money in a couple of days. Supposedly, some of the members get back $1,800 or so after doubling about $900 or so. There's a small charge like on other sites for transfer transactions. I am going to study it and maybe even try it.
Would you?
4 responses
@varier (5685)
• Indonesia
7 Feb 12
Nope, I will stay away from that kind of program.
It must be a High Yield Investment Program (HYIP) site, hence it must runs the Ponzi Scheme. All Ponzi Schemes are scam or destined to be scam, for sure.
The chance you lose all your money is bigger than the chance you get that money doubled.
I don't recommend it. But the choice is yours. Just never invest money that you can't afford to lose. 
1 person likes this
@chrystaltears (3392)
• United States
7 Feb 12
Thank you varier. Sounds like you are right. Kind of like if it' sounds to good to be true, it probably is. Thank you, but I don't have money to lose.
@jkct02 (2874)
• Kota Kinabalu, Malaysia
7 Feb 12
I don't know how that plan gets the money to pay people who "invest" in it. It is illogical and it smells bad. I think it must be some kind of Ponzi scheme where they take the money of new investors to pay the old ones so that the old ones will introduce more new investors to join the plan until the volume is big enough for them to scam. Be careful, my friend.
@chrystaltears (3392)
• United States
7 Feb 12
Yes, I actually think that is how it works. Everyone keeps investing, but new investments have to come in continuously. There's a chance of loss from time to time also. I plan to do much studying and research before I decide I actually would like to take the leap and go thru wit it. Thanks for the tip. I will definitely keep that in mind. They say they've been doing this since 2004 and the owner has a great reputation.
@jkct02 (2874)
• Kota Kinabalu, Malaysia
7 Feb 12
Although reputation is important, you have to weight in more if its your money in the investment. In fact, the better the defaulter's reputation before its discovery, the more financial damage can be done and more victims will be had. Just look at the case of Bernard Madoff in 2008, the biggest ever Ponzi scheme ever in USA. The conman even at one time served as the Chairman of the Board of Directors of National Association of Securities Dealers (NASD) and his victims had needed to get an invitation to join his scam plan. You need an invitation from him to hand in your money to him! A six star scam! http://en.wikipedia.org/wiki/Bernard_Madoff
1 person likes this
@chrystaltears (3392)
• United States
7 Feb 12
Thank you jkct01, I will definitely, definitely look into that. Thanks so much. I have no money to throw away.
@chrystaltears (3392)
• United States
9 Feb 12
Let me see if I can remember. It was double back investment or something like that. I was just using the searchbar or something to find it. Or something like 200% in two days. I will see if I can find it and let you know.
@chrystaltears (3392)
• United States
9 Feb 12
I found it. It's called dollar monster. Good luck. I decided not to do it myself.
@Basika (5)
• United States
7 Feb 12
Well. I can honestly tell you that passive income works but it is hardly passive (unless you are extremely lucky). I bought shares in a company (ticker: BVSN) that sold for 8.89 in October, today it is trading for $35. It maxed at $45ish last month. This equals to a %500 profit. While this is attractive, anything short of the safest investments have to be frequently monitored even if you are planning for the long term. If everyone made money off the markets prices would just keep going up to infinite. People lose a lot, people gain a lot.
1 person likes this
