The HYIP (High Yield Investment Program) market was a massive part of the "make money online" sector for a long time in the early 2000s. This is not too different.
They're just ponzi schemes and scams targeting the gullible and uninformed.
"Hey bro, invest money with us and we'll offer a 25% interest daily, compounded to infinity. The money will be invested in stocks, real estate and other super secret shtuff."
Typically, the first round of people to "invest" get their money as promised, so they can go out and evangelize about the money printing tool they discovered. All their friends and family then invest in exponential fashion.
Once there's a large enough pool of money in the system, BOOM!
They're just ponzi schemes and scams targeting the gullible and uninformed.
"Hey bro, invest money with us and we'll offer a 25% interest daily, compounded to infinity. The money will be invested in stocks, real estate and other super secret shtuff."
Typically, the first round of people to "invest" get their money as promised, so they can go out and evangelize about the money printing tool they discovered. All their friends and family then invest in exponential fashion.
Once there's a large enough pool of money in the system, BOOM!
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