Well I'll be damned...

[Mao]

Remember that Ponzi scheme thing I posted a while back? Well, I ended up doing ----- for money, and lo and behold, it worked! I did the $250 offer, and I've attached an image of my PayPal account getting paid.

I don't know if I'm allowed to solicit for referrals here, and if I'm not, I apologize and will understand if this gets deleted or locked. But, apparently one of those sites does work at least. So if you want to try out the $250, I'd be much obliged if you signed up under my referral link: ----

[section deleted by Mao]

Also, in the midst of doing all this, I've stumbled upon some other GPT sites too, mostly ----- . This site allows you to earn money just by giving an e-mail address and/or zip code (you can also do the ones where you have to give money, but I've largely avoided those on this site). I made a junk hotmail account and just give them my zip code. My hotmail gets spammed, but so what? heh. If you're interested in doing --------, I'd also be much obliged if you signed up under my link here too: ------ . Oh, and if you do the e-mail/zip offers, you're supposed to clear your cookies each time.

Anyway, so this is what I'm doing for the summer without a job...how sad...

BUT, on the bright side, I did do a little public good by letting people curious to know that at least two of these sites do work. The way I understand it is that the website gets money for each customer they refer, and they pass on a portion of that to you. So it's not really a Ponzi scheme in the sense that there is a service being exchanged (basically company A pays the advertising company who then also pays the consumer). But heh, who knew these things actually work...

[notyoueither]

This isn't what I'd expect from a poster known as Mao.

[MarkG]

I don't know if I'm allowed to solicit for referrals here

no, you're not.

post edited, pending deletion.

when did you get back?

[Mao]

Originally posted by MarkG

I don't know if I'm allowed to solicit for referrals here

no, you're not.

post edited, pending deletion.

when did you get back?

OK, that's cool. Is the post OK in the form it's in now? with the site and such deleted already?

Oh, and I've been back for a bit, but only posting a little bit (yeah, shocking, I know...)

[MarkG]

well you can delete the asking people to pm you part as well. although i believe the thread should be deleted at all. but i'm not a mod

so what's up? how's the coffee shop?

[Mao]

Wow, coffee shop...that brings back memories...way way back when. Gah, is anyone running it now?

Oh, now I took the name of all the sites out and the part about the PM, what do you think? Yeah yeah, you're not a mod, but I have a feeling you still have some influence...

Oh, and can anyone see the image? I thought I attached it but I can't see it...

[MarkG]

it can live for a while

[MarkG]

testing attachments

[Mao]

Let's try again...

[Mao]

yay, it works! stupid 800 pixel limit...

[DRoseDARs]

You know, Mao, there are cases of these Ponzi scams paying their victims some money to appear legitimate in order to keep suckers reeled in...

http://www.sec.gov/answers/ponzi.htm

"Ponzi" Schemes

Ponzi schemes are a type of illegal pyramid scheme named for Charles Ponzi, who duped thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. Ponzi told investors that he could provide a 40% return in just 90 days compared with 5% for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period—and this was 1921! Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons.

Decades later, the Ponzi scheme continues to work on the "rob-Peter-to-pay-Paul" principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses. For more information, please read pyramid schemes in our Fast Answers databank.

[Mao]

*shrug*

Maybe, but I still get the impression that this isn't a Ponzi scheme. But people can think what they wish... Is there any way to even prove that something isn't a Ponzi scheme?

[Dis]

I think people are confused about ponzi shchemes.

You do make money at them. It's just the people at or near the top are making the most. And if you happen to be at the bottom...

[VetLegion]

Dis

[DanS]

Originally posted by Mao
But people can think what they wish...

[DRoseDARs]

Originally posted by Mao
*shrug*

Maybe, but I still get the impression that this isn't a Ponzi scheme. But people can think what they wish... Is there any way to even prove that something isn't a Ponzi scheme?

Checking with the FBI or other relevant government agency charged with investigating fraud is a good place to start.

[Mao]

Good point. I should go and check those. I don't think I'm actually anywhere near the time of the chain, but I guess I can't prove it either way. *shrug*

Although I wonder if someone in advertising (Ming? rah?) could tell me if this was even a sound business plan anyway?

[snoopy369]

It is a ponzi scheme, in essence, if:

1. They take money from you up front, with promise of greater money later.
or
2. They ask you to pay money to third parties, with promise of greater money later.

I would say it is not a ponzi scheme if they don't ask you to pay any money.

However, I would highly doubt that they would make this offer as part of a legitimate business practice. Unless they get paid quite a lot of money from the credit card companies (who stand to make by far the most from these offers, and typically signing up for and using one credit card is required for most or all of them IIUC), it's unlikely they're a solvent business in the long run, and either don't pay out people eventually, or just go bankrupt (and thus don't pay people).

That said, the CC companies could well pay them a lot ... they stand to make a lot of money from people who get their CCs.

I'd say that if they're a public company and have released their books at least once, it should be trivial to determine if they're solvent.

If they are, look at their profit per 'level'. If the amount they get from the offer people is greater than $250, or at least close enough that the number of people who fail to complete all offers make up the difference [and given the hardest one to do is the CC one typically, this number shouldn't be that high of a dollar value], then they're legit. If they don't, it's either a scheme or a really dumb business.

[Kuciwalker]

There is no such thing as a free lunch.

[Mao]

Originally posted by snoopy369
It is a ponzi scheme, in essence, if:

1. They take money from you up front, with promise of greater money later.
or
2. They ask you to pay money to third parties, with promise of greater money later.

I would say it is not a ponzi scheme if they don't ask you to pay any money.

However, I would highly doubt that they would make this offer as part of a legitimate business practice. Unless they get paid quite a lot of money from the credit card companies (who stand to make by far the most from these offers, and typically signing up for and using one credit card is required for most or all of them IIUC), it's unlikely they're a solvent business in the long run, and either don't pay out people eventually, or just go bankrupt (and thus don't pay people).

That said, the CC companies could well pay them a lot ... they stand to make a lot of money from people who get their CCs.

I'd say that if they're a public company and have released their books at least once, it should be trivial to determine if they're solvent.

If they are, look at their profit per 'level'. If the amount they get from the offer people is greater than $250, or at least close enough that the number of people who fail to complete all offers make up the difference [and given the hardest one to do is the CC one typically, this number shouldn't be that high of a dollar value], then they're legit. If they don't, it's either a scheme or a really dumb business.

Thanks snoopy. I guess this sorta falls under the second example, since the company itself never asks for money. I'll try to find their books and see if it's online. The other thing about giving money is that for any of the offers I completed, I never paid more than a nominal shipping and handling charge ($5 was the most I ever paid IIRC) that puts you into a trial offer. If you cancel before the trial ends, you get charged nothing more (but if you forget, it's something ridiculous like $60 a month thereafter). I guess they third party companies may make money from those people who forget to cancel, and the company that pays me gets money either way from these third party companies. More importantly, I don't use a credit card per se - I use a Visa gift card that has only a set amount of money on it and cannot be recharged. I buy the gift card with cash and so AFAIK the card cannot be traced to anyone. So I don't think it's necessarily the credit card companies that get the payout from these things.

So I guess it resembles a Ponzi scheme on some levels, but I'm curious to know what the going rate is for companies to pay for a referral for someone to do a trial offer for their product.

However, there are other sites that I'm involved with that don't ask for any money whatsoever upfront (unless you complete offers that require money) but rather will pay you a dollar or so each time you give a company your e-mail address (I got a hotmail account) or zip code.

[Mao]

Originally posted by Kuciwalker
There is no such thing as a free lunch.

I guess you're right, but you offering them something that you're getting paid for (your information, whether it be e-mail, a mailing address real or fake, etc.). I also tend to trust some of these sites because there are entire sites and forums devoted to looking for deals for these things. True, they could all be a conspiracy to encourage ponzi schemes too, but *shrug* the important part is that I am $250 richer.

[Tuberski]

Originally posted by MarkG
well you can delete the asking people to pm you part as well. although i believe the thread should be deleted at all. but i'm not a mod

so what's up? how's the coffee shop?

Well, now that I have read your post, I know that I can PM Mao for the info.

So what was the point in it?

ACK!

[Mao]

Originally posted by Tuberski


Well, now that I have read your post, I know that I can PM Mao for the info.

So what was the point in it?

ACK!

haha but he can see those as well...

[Tuberski]

There is always e-mail........

ACK!

[Blaupanzer]

Poor Mao, no work!

[snoopy369]

By credit card companies, I refer to the fact that most of the offers i've seen like that require you to obtain a credit card as part of the offer [their highest 'tier' of offers]. I'm not sure what the average profit off of a credit card user is per year, but even for a $1000 credit limit, maybe $4000 use per year, they make a decent buck between processing fees and interest. I could see them paying $100 per customer ... but that doesn't get close to $250, so either they pay more than I imagine, or there's something fishy

[Elok]

Good Day !!!

My name is USMAN BELLO and I represent the CROWN OF NIGERIA. I have 200 million$$ dollars in gold bars and am seeking a modality to launder it with interested parties overseas...

[Colon™]

Originally posted by Mao


haha but he can see those as well...

No, he can't.

[Mao]

Originally posted by Blaupanzer
Poor Mao, no work!

I know! No one wants to hire me for piecemeal work...maybe it's because I have no skills... haha.

snoopy, there are 2 offers or so to apply for a credit card on the site, most of them are random things like Columbia House's DVD club (which actually isn't a bad deal if you realy want to have lots of DVDs) or diet supplements or such that come with a free trial. I'd be really curious to find out the actual price structure of these referrals too...