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Pyramid Schemes

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Found 26th Mar 2005
I've seen so many of them around... do you know if there are any that actually work!!!

Shyam

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Oh boy...you're inviting a lot of spam by asking that.

All I will say is that they all "work" if you start them (are at the top of the pyramid). Just understand that they only work by you scamming the money off everyone else who ends up at the base of the pyramid. I don't think they are an ethical or honest way to make money.

Further to that if anyone posts a link to any pyramid/MLM/matrix scheme in this thread it will be removed.

Is the Free iPod mini thing a piramid scheme?? There's ads all over the net for it too, you'd think they'd have stopped it.

duckmagicuk2

Is the Free iPod mini thing a piramid scheme?? There's ads all over the … Is the Free iPod mini thing a piramid scheme?? There's ads all over the net for it too, you'd think they'd have stopped it.



It's a pyramid scheme under a different name. I will say that unlike most this one is a little better as it doesn't involve anyone putting money down. However it has encouraged so much spam on the net that it's a huge pain. If you have five friends and all are willing to do the free offers for you then you will get your iPod....of course they will get nothing for their efforts. It's exactly that (one winner, five losers) which I don't approve of.

Besides that, out of everyone that has tried, there has only been 2 peeps on that site that has won so far, does that tell you something ?


The american ipod site has now extended it's offer to include the UK, they probably reached the end of the pyramid over there :wink:

I spotted this following calculation on another site :wink:

[color=darkblue]STEP 1 You participate in 2 offers = 2 OFFERS STEP 2 You … [color=darkblue]STEP 1 You participate in 2 offers = 2 OFFERS STEP 2 You refer 5 people, they each participate in 2 offers = 10 OFFERS STEP 3 They each have to refer 5 people (25 people) who each participate in 2 offers, 25 X 2 = 50 OFFERS STEP 4 They each have to refer 5 people (125 people), who each participate in 2 offers = 250 OFFERS STEP 5 They each have to refer 5 people (5 x 125 = 625 people), who each participate in 2 offers = 1250 OFFERS It carries on like this, growing exponentially, to give the next few generations: STEP 6 = 6 250 STEP 7 = 31 250 STEP 8 = 156 250 STEP 9 = 781 250 STEP 10 = 3 906 250 STEP 11 = 19 531 250 STEP 12 = 97 656 250 (note this number is already larger than the entire population of the UK after only 12 steps removed from the original person) That's why pyramid schemes don't work, except for the first few people that join.[/color]

Original Poster

Sounds unethical of me, but I hope I can find a newly started one

Thank you for that math MissPiggy! It's so simple to see when it's laid out that way...

shyam - I'd really rather you didn't.

Original Poster

Admin... please explain to me in more detail... if I DO get the ipod or whatever doesn't it mean more people get chances as I'll be off the list..

You seem reluctant for me to sign up to one and you're probably right so I won't

I'm not denying that it does work. What I have a problem with is how it works. Look at the basic framework and requirements for you to get an iPod....how do you get it? Well for you (1 person) to get a free iPod 5 people have to put time, effort etc. into fulfilling all those offers. Who wins out of this deal? Well 1 person who didn't do any of the work gets a free iPod and the 5 others get nothing.

So you say well they can just sign up their own 5 people and get their own free iPod. Now scroll up and look at the numbers MissPiggy quoted. Within 12 steps that is going to require almost 100 million people.

At the end of the day you end up with millions of people who get nothing and a very very small percentage who get something. If that sounds ethical to you than go ahead and do it. It doesn't sit right with me.

The free iPod offer is like a benign pyramid scheme as the five friends don't get anything but at least they shouldn't have to put any hard money up. Read everything I've written so far and imagine each of those five friends had to put in £100 just to join the scheme. Now you can see why pyramid schemes are illegal in most countries. Even schemes like Herbalife which constantly appeal that they are "legit" and "not a pyramid scheme" have been made illegal in the US.

The point to remember is that all these schemes only work by leaving someone "holding the bag" in the end. It may not be you if you are in first but that certainly doesn't make it right.

Original Poster

Admin... your are completely right... and I am not going to take part in any... in fact I'm looking for a ipod deal right now

Shyam

Incidently the guy in hassle over itunes.co.uk domain etc is involved with one of these here The URL mentioned (quickquid.com) seems to be one of these. Been a while, but im sure when I did BUsiness Studies we were told Pyramid Schemes were illegal to run.[/url]

Original Poster

A good site of explaining them is.. freeipodguide.co.uk
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