Money making website
By krijger88
@krijger88 (55)
Belgium
November 6, 2012 4:22pm CST
I just found a website that gives 2 dollars on sign up, and 1 percent of your account balance every day.
You can also invest your money and make 2,5 percent on 10 dollars for 60 days.
Anyone else experience with online investment websites?
2 responses
@auwielady (116)
• Philippines
6 Nov 12
I didn't know that it's even possible. But isn't that a little scary. I mean I'm a little skeptic when it comes to on-line things. Honestly, mylot is my first online income-generating website. And I just tried this because I think I won't be losing anything. Do you think that's legit? Just asking. :)
@krijger88 (55)
• Belgium
6 Nov 12
Yeah, I think it is, I can already withdraw my 2 dollars without any problem and I did research after the site to see if it was legit.
This site can do this because they use your investment to make profits of up to 30 percent, and so they can give you a little 2.5 percent and they can keep 27.5 percent.
@livewyre (2450)
•
7 Nov 12
Have you heard of the term 'Ponzi scheme'?
It's an investment idea that offers high interest - you put your money in (maybe $20), after a month or so you get 10% or something way above market rate ($2) - you are hooked, you tell your mates, you put more in ($100, you friends put in $250 altogether).
So now the scheme has $350, they have paid out $2 so far... are you following this?
Now it's a case of knowing when to pull the plug...
Month #2, you and you friends are delighted to get cheques totalling $35, you can hardly believe it and get all your respective families involved - the excitement generates another round of investments, you are now so 'into this, you personally start getting serious and invest $2000 yourself, various friends and family are equally convinced and the scheme receives a total of $5000 from them too.
Now just roll back a little - they have paid out a total of $37 so far, and in return have netted $7000 - how big can this go??
The one certain thing is that at some point, the scheme will collapse - the trick is to know how long to string the punters along to get the maximum amount of money.
I am not saying that your scheme is a Ponzi scheme, I just would like to make a couple of points:
1. I don't think you can legally make 30% interest over 60 days - so the premise of the 'business' is at least 'suspect'
2. Have a look at the scenario above, and ask yourself if this could be happening
3. The moral of the story is that you use the little fish (2.5% returns on $10) to get the big fish (your savings, or even money you have decided to borrow!)
Keep safe with your investments and remember the first rule of making money online - if it looks too good to be true...(you know the rest..)
