High Yield Investment Programs have a bad name. Rightly so! They are simply ponzi schemes.
But a few are making a healthy living. The BBC says, it's simply a matter of knowing when to cash out.
"It's our belief that there may well be some people making money here," said Dr Richard Clayton, one of the computer security experts behind the study.
"But running one of these scams is certainly far more lucrative than investing in one."
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Has anyone here ever "invested" in one of these? I always assumed your initial investment was locked up for some period of time (which would inevitably turn out to be longer than the program survived).
Back in 2007, I was heavy in HYIP games in another forum. I have an addictive personality, so what basically happened with these is it's like gambling and I knew how to win at these things. I would INVITE everyone I hated. Kept my family away from them. I gained enough cash to start my own.
I am ashamed to say that it was a cut throat, dog eat dog world. I had several connections, I was getting involved in crazy stuff, made mad money. Lost a lot of money as well.
The trick was starting them or being one of the top, as you very well know this. Back then, a healthy amount of money to get in on this would be to have at least 5k in the reserves.
You can lose your shirt or you can go to bed with 1000's of dollars with no conscience. I was often sick to my stomach hearing the stories of how these people who had been at the bottom and lost. I stopped doing it when it seemed that it would be scam central in the network. The start ups would get the big chunks, hype it out. Then run the eff away. It was quite sad.
Clinton (March 24th, 2012)
So you actually ran one of these? Did you think you were going to be able to sustain it or were you just looking for a quick buck?Originally Posted by TeamFreedom
I thought I was going to sustain it. Grow it into my vision but there are a lot of people who will cut you at your kneecaps & it's easier done on the internet than it is in person. I had a solid show, everything was working well. I am the networking friendly type who can easily engage an audience. Very outgoing, if you couldn't tell already. I like communication and it's essential in these runs. You are dealing with people's triggers. In which you can do good by or you can be mean by.
If you understand the psychology of people you can run a HYIP. From what my experience was, is as long as I kept people updated and they were paid out on time, I got more money invested in me.
There have been many sob's who understood the psychology & used it to their advantage.
The difference that I saw between the ones who wanted a quick buck versus sustaining were the ones who SCREAMED the loudest were going to get as much money as possible and run the 3rd day. They had sh*tty templates and they hid behind the screen.
There were many tale tells that were broadcasted that you might be in the scam. You can still make money but tread cautiously, do your diligence, and understand the risk.
How were you going to sustain it? What interest rate were you paying out? Every one I have ever seen was paying out ridiculous rates that couldn't be covered by any investment scheme.
I was young(er) back then. I thought I was going to have the oldest and longest running program. Unrealistic thought patterns. I went to where I used to stomp. I can't even find my thread. hah. It was a strange ride, I consider these years 2006-2008 to be crazy circle running.
Interesting. I thought maybe you had some different angle on HYIPs that would make yours something other than a Ponzi scheme, at least in theory.
It was a scheme, no sugar coating that. Back then, like it was so long ago. I thought I was doing something different, but then we all say that. I did have different angles, longer hold patterns.
My thought was I would invest in creations. I was really good at penny stocks and the market in general. Feels like ages ago that I was in this.
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