It sounds like the definition of a pyramid/ponzi scheme. Not that that is horrible or anything, and it does not make it a "scam"; it just is what it is. That's cool that it is actually working :) I'll think about signing up.
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If it were a Ponzi scheme, it would definitely be a scam. I actually wrote an OK explanation of how a Ponzi works but the one by @joelkatz is honestly better. https://steemit.com/steemit/@joelkatz/steemit-is-not-a-ponzi-scheme ... That is to say, the basis of the investment in a ponzi scheme is always fraud.
But this seems like a pyramid marketing scheme. They can be legitimate. Ish. Avon and mary K and Tupperware (back int he day) all have a "pyramid" component to their sales marketing. However, often the promises of a reward are highly exaggerated.
Good point about "Ponzi scheme". I looked up the definition and I was wrong. "Pyramid scheme" is what it is.
hey cliff it does sound like it, Im not to worried about classifying it though a couple of extra bucks for Christmas is great lol
RIght on. Ponzi Away! :)
lol up, up and way bud lol or so I hope
What do they call that HYI High Yield Investment. So long as there is someone new you can score.
I think so its pretty much low risk and high reward I see the system ticker in the dashboard shows 82k people have registered on the system