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Money Mistakes I Have Made In My Life - Investment - Nairaland

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Money Mistakes I Have Made In My Life by Slimfeez(m): 8:55pm On Oct 21, 2021
Good day all, my name is Yusuf but friends call me Slimfeez, i bring to you all some money mistakes i have made in the pas that i want everyone on this platform to learn from.

The first and most detrimental money mistakes i have made in my life is believing in ponzi schemes and how it turn me into a knob and i still believe its working, i know 90% of the people using this platform will really understand me quite well, and it is one of the reasons i came up with this write up to save some lives. A lots of scheme has came after the demise of MMM, that should be a perfect time to learn that irrespective of the sweet inception of any online investment, it can never have a good ending. I am using this avenue based on bad experiences and to devote my time and to preach to the world that nothing is easy, if you really wanna make the real money, you have to work for it, stop parading yourself online wasting your hard earned money.

Ponzi schemes continue to be among the most popular way to fraud people out of their money all around the world, and while many people are now getting educated about the schemes, they are still prevalent in Nigeria. Find out what a Ponzi scheme is, the most popular schemes in Nigeria and how to identify a Ponzi scheme right now!

What Is A Ponzi Scheme?
Ponzi schemes were named after Charles Ponzi, an American businessman who carried out one of the largest operations in history during the 1920s. However, he wasn’t the first one to do it, and the first Ponzi schemes date back to the early 19th century. The schemes have a lot in common with pyramid schemes, but there are also some key differences between the two.

Essentially, a Ponzi scheme is a form of fraud where the founder attracts new investors for his non-existent or failing business, promising high returns and low risk. Then, as new investors begin paying money to the schemer, earlier investors start receiving the profits, believing they come from the success of the business when in reality, they come from fellow investors.

Unlike a pyramid scheme, where investors need to lure in other participants to make any profit, in a Ponzi scheme, the founder works directly with the investors. The scheme can run for a long time, but all of them inevitably fail, leading to the participants losing their profits and their
initial investments.
Re: Money Mistakes I Have Made In My Life by Longsleeve: 8:59pm On Oct 21, 2021
When some people will be smiling.. others will be crying..

For people to gain in Ponzi schemes..others have to lose..
Re: Money Mistakes I Have Made In My Life by BlackXabbath(m): 9:04pm On Oct 21, 2021
Re: Money Mistakes I Have Made In My Life by Nobody: 12:45am On Oct 22, 2021
im sorry u learned the hard way. tnx for the good work trying to enlighten the inexperienced
Re: Money Mistakes I Have Made In My Life by Slimfeez(m): 1:47pm On Oct 26, 2021
After few days of banning my account, i am fully back with my content

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