HenryThegreat1:
. bros u are jobless. go find work or u may send ur cv lemme assist u. don't ur mouth to share meat u don't eat. face ur life. imagine a Nigerian calling people greed. nairabet and...... where is ur betting shop.

Pierocash:
Op your problem is stingyness and lack of proper orientation on the topic u are writing about.Mutual Aid isn't a Ponzi Scheme as the media make u believe.Mutual Aid can survive evn without new memebers as lond as the old memebers are interested in the scheme,it is sustainable as long as the rules guiding every of the platforms are well tightened.It is a transaction that everybody gain and no loser if the platform is well guided.
It is not laziness like u claim but innovation and financial inteligence born out of high level calculation that u must not sweat to make money but putting ur resources to work for u.if mutual aid is Ponzi,then Co-operative society is also Ponzi

HenryThegreat1:
. bros u are jobless. go find work or u may send ur cv lemme assist u. don't ur mouth to share meat u don't eat. face ur life. imagine a Nigerian calling people greed. nairabet and...... where is ur betting shop.

Rolly83:
Hello all if your money is in Twin..Kas forget it...Your money is gone!!! Pls don't invest in Ponzi schemes!!!

Solmax:
I just hope all these greedy people would just agree and learn from their experience.

jude33084:


What you don't know is that their experience is what is driving them into it the more.

Business is risk!

jetroolowole:
The problem with Ponzi scheme or 'Mutual aid' is the source of the investment. We have read a lot of stories on the internet take for instance the MMM scheme. Many students used there school fees, pastors use their ministry money, people borrow money to join, other use money entrusted to them. The list is endless. Now tell me, do you think these people when they get their investment back (if they do), will re-invest? They, won't because the money was initially meant for another purpose. So, it is more like 'get in' and 'get out' quick.

Don't get me wrong, I am not trying to discredit people for being innovative, I am only emphasizing a universal truth.

segebase:
@OP which one is beta BETTING OR PONZI?

jetroolowole:

It's good you color it mutual aid. Ponzi schemes sometimes commence operations as legitimate investment vehicles, such as hedge funds. For example, a hedge fund can degenerate into a Ponzi scheme if it unexpectedly loses money (or simply fails to legitimately earn the returns promised and/or thought to be expected) and if the promoters, instead of admitting their failure to meet expectations, fabricate false returns and (if necessary) produce fraudulent audit reports.

When a Ponzi scheme is not stopped by the authorities, it sooner or later falls apart for one of the following reasons:
1. The promoter vanishes, taking all the remaining investment money.
2. Since the scheme requires a continual stream of investments to fund higher returns, once investment slows down, the scheme collapses as the promoter starts having problems paying the promised returns (the higher the returns, the greater the risk of the Ponzi scheme collapsing). 3. Such liquidity crises often trigger panics, as more people start asking for their money, similar to a bank run.
External market forces, such as a sharp decline in the economy, cause many investors to withdraw part or all of their funds.

Now comparing it with a co-operative society is wrong. A co-op is "a jointly owned enterprise engaging in the production or distribution of goods or the supplying of services, operated by its members for their mutual benefit, typically organized by consumers or farmers." Cooperative businesses are typically more economically resilient than many other forms of enterprise, with twice the number of co-operatives (80%) surviving their first five years compared with other business ownership models (41%). Cooperatives frequently have social goals which they aim to accomplish by investing a proportion of trading profits back into their communities. As an example of this, in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade as compared with 2.4% for other rival supermarkets. In co-op, there is reliable source of income and part of the return is what is used to finance the co-op.

If you check my write-up, I mentioned that History has taught us from time to time
that any investment business that rely only on new investors to survive without products can not stand the test of time.

HenryThegreat1:
. please ur full name. because only jobless looking for front page in nairaland will have time like this to write u don't really know. do u know that mmm Nigeria is still paying?

DonHummer:
I don't really think so,
majority of participants are working class people but are looking for other ways to augment their income which wouldnt require much of their time in this difficulty enonomy, does that make them lazy and greedy?
I rather you call them risk takers

maasoap:

This is even worse than the case of unemployed ones. Working your a$s off, then put your life savings in a ponzi scheme. That's stupidity of the highest order!
Their decision is not influenced by the need to augument their income but the desire to earn unrealistic profits.

Kalman:


Bros... Ponzi scheme went on fine until it crashed itself with an unexpected halt in December of 2016. Media hadn't attacked them yet na...

NubiLove:
With betting, you know that you can win or lose BUT with ponzi people always expect to win and when the ponzi crashes it becomes a big problem.

jude33084:


Twin.....Kas pay bro.