Beware of GetMyAds - it is a Pyramid or Ponzi Scheme
February 9, 2017
GetMyAds.com, which claims they are a pioneer for innovative solutions for modern entrepreneurs on the internet who understands the advantages of networking, is actually a Pyramid or Ponzi scheme. This is because GetMyAds is heavily dependent on recruiting new members because the money generated is from the actual token investments made by affiliates, and not from products or services. In other words, GetMyAds uses a Ponzi scheme or a matrix scheme to pay people, which can fail at anytime, if the current members are not able to recruit enough new members.
Please continue reading below.
www.GetMyAds.com - The Ponzi or Pyramid Scheme Website
This is what we have uncovered about GetMyAds:
Although registration is free, members must invest in advertising tokens before they can start earning.
GetMyAds is Ponzi scheme, because no actual products or services are provided by the company.
Members are clicking their own advertisements thus creating fake traffic.
The main product is recruiting more members to sign up.
$537 per day can only be achieved once you have bought $50,000 worth of tokens.
Now, Frank Hanson, which the website claims is their CEO and a successful entrepreneur with many years of success on the internet, cannot be located on any reputable website, except for the untrustworthy websites, which have created fake articles to convince online users into signing up with GetMyAds.com. You would think that for someone(Frank Hanson) who have worked with Fortune 500 companies and have made millions on the internet, would at least be published on reputable news or other legitimate websites.
Why is GetMyAds.com a Pyramid or Ponzi Scheme?
GetMyAds.com is a pyramid or Ponzi scheme because they do not do any form of investments, sell products or services to make money. Instead, they take money from new members that old members recruit, to pay the same old members. If GetMyAds.com fails to recruit new members, they will be unable to pay old members, which will cause the scheme to crash. Once the scheme crashes, the owners will take whatever money they have collected and disappear.
The owners of GetMyAds.com just collect money from new members, and pay some out to old members and keep the rest for themselves. That is all they do. Once the pyramid scheme fails, new members will suffer the most, because they will not get back a single dime of their so-called investment. For the owners, it will be a big payday for them, because they would have already collected thousands or millions of dollars from their members or participants.
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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