Scam - MyPayingAds located at "www.mypayingads.com" is a Ponzi or Pyramid Scheme
February 14, 2017
July 14, 2015
My Paying Ads or MyPayingAds is a type of scam that has been run under many names on the internet. This scam is where you buy ads to participate in a revenue share and you click on ads to create traffic for others that buy ads to participate in the same revenue share. It is basically a closed marketing system where you are marketing to other advertisers. Here are the names of some other scams that have come before: UTS Profit Ads, TrueAdProfits, and Adhitprofits.
Please continue reading below.
The My Paying Ads Website at "www.mypayingads.com"
We are an online advertising site. We sell advertising services. Our primary product / service is Business Listing (adpacks) and our other products / services are Banner ads, Text ads, Login ads etc. You may use these to advertise you Business/Programs to all members and visitors of our site.
The traffic you are buying from MyPayingAds is near worthless traffic for anything other than the make money online niche. The reason it is near worthless is the vast majority of people that are clicking to go to your site are people that are trying to make money by participating in the revenue sharing and are not people who are looking to spend money as customers. Untargeted traffic is absolutely useless and does nothing for your business.
The common argument that is made to justify this type of scam is that, “I have received a payment, thereforeit is not a scam.” This is what makes Ponzi or Pyramid schemes so effective at taking money from people. Some people will receive payment, but once the amount of people joining the scheme slows down it fails and many lose their money.
What is a Pyramid or Ponzi Scheme?
A pyramid or Ponzi scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.
In a pyramid scheme, an organization compels individuals to join and make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative - whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.
Such organizations seldom involve sales of products or services with value. Without creating any goods or services, the only ways for a pyramid scheme to generate revenue are to recruit more members or solicit more money from current members. Eventually, recruiting is no longer possible and most members are unable to profit from the scheme.
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