Get rich quick and pyramid schemes still abound and have become even more prevalent with the ease of spreading them on the Internet. All you have to do is invest a few dollars and you’ll have thousands in your bank account in a few weeks – or so the promises go. In reality, you are likely to lose any money you place into the scheme and that results in a 100% investment loss.
The old adage of “If it sounds too good to be true, it probably is” rings loud and clear in this area.
- I hate to admit it, but when I was about 18 I was talked into investing in a ‘Pyramid Scheme’ by my brother and lost about $1000.In honest retrospect, I see it was my own greed which deceived me and not the wiles of others. – submitted by SuzeOFan
- I was 14 and was convinced that this “method” of making money on the internet would certainly work. It involved sending out SPAM (I had no idea what that was) and asking people to send you $5. You then put your name on the list and it would grow and grow with more people sending you $5. I had visions of going to the ATM and depositing thousands of dollars from my earnings.I spent $90 on a bulk emailer and $25 sending out a $5 bill to each of the five people on the email. I sent out an email with my name now at the #1 spot. Well, a few hours later I got a call from the ISP and they said I was spamming and I wondered what they heck they were talking about. They realized I was legitimately stupid and didn’t cancel the service. I also was contacted by a guy on the internet that found ponzi schemes to try and stop them. He was nice in explaining how illegal, stupid, and wrong the system was.
Ponzi schemes are still out there (12dailypro come to mind?), just more sophisticated. I was out $115 and some pride. I never received any money from the thousands of people I emailed.
– submitted by Jesse