December 29, 2006 5:13pm CST
I want to know about HYIP tell me what is it ?????
• United States
29 Dec 06
They are pyramid schemes and scams. They are not legitimate investments. They are also illegal in several countries. I started a thread about this a while ago, you can check my threads under my profile if you want to read it or just search HYIP. They basically take your money offering a high return and use that money to pay off people who they offered a high return to before you because there is no way to legally make that kind of return. They then need to recruit more people so that they can pay you back. But when there are more people wanting their money than people joining they simply shut down the site and take whatever they have made and start up again under a different name later.