Did you fall for HYIP?
By thundercat
@thundercat (505)
United States
December 22, 2006 7:13pm CST
I hope people who read this thread are educated on what HYIP actually is. These are not legit investments no matter what they tell you. There is no legal way to turn a 20% or other exorbitant return consistently over such a short period of time. These people take money from new investors to pay old investors. This is called a Ponzi or pyramid scheme and it is illegal to conduct one or knowingly participate in one in the US. You may have invested in some and got paid and are going around advocating them to get referrals and such. By doing so you may be engaging in illegal activity. When the income starts to be unable to support the payouts the people running the scam removal all the money and shut down the website leaving a lot of people out of money.
5 people like this
48 responses
@amitheone (274)
• Philippines
23 Dec 06
I've read about HYIP. But what HYIP stands for? I've been wondering since. I don't trust site that tells you that you need to pay first before you can have all the benefits. Like I read in one site, pay 10 bucks and a week later it can grow to 200 bucks! easy! Yeah right!
1 person likes this
@enthusiast (44)
• Estonia
23 Dec 06
I got to know what is HYIP on my own, after I got scammed pretty easily about $10, I looked some info about them on Wiki and other sites. Then I realized how the system (Ponzi scheme) works and now I'm really careful with this sort of things. Actually it is possible to make some money with HYIP, but there are strict rules to follow. Some of HYIP's stay for really long time and they have legit income sources. The flow of the money isn't great in those, but it's better than getting all your money scammed. For more info you might want to check out these sites:
http://goldentalk.com/
http://www.talkgold.com/forum/
http://www.moneymakergroup.com
@leapfalling (500)
• China
23 Dec 06
i know hyip well.
i think all the hyip site become scam at last.
so how to make money before they become scam is very important to us.
if you have some good site,pls tell me.
i agreed to be your downline.
@thundercat (505)
• United States
23 Dec 06
Maybe you missed the message. Investing in these places knowing they are scams is illegal in the US. If you are in another country I don't know what you laws are, but I don't know of any sites that are operating HYIP right now.
@ais_nedla (162)
• United States
23 Dec 06
i dont know what that is. thanx for the info though. youve been really helpful. i was about to make 2 million dollar investment with an hyip. gosh, i am so rich. im really having a hard time spending so much money this christmas season. i spend everywhere, but i seem to still have moey in the bank. how do i get rid of those?
@babygirley (15)
• Malaysia
23 Dec 06
Well, why don't you donate some for the kids in the streets or buy some nice presents for them? If you don't want, you may give me some. Haha! That is what Xmas means.. It's the season of giving.
@Khangura (924)
• Canada
23 Dec 06
yea i agree. I never use HYIP programs as its very risky.. so many people say 'its only a investment of 1$ and itll turn into 10$ so what hav u got to lose besides 1 little dollar'.. i mean i kno its 1 dollar but imagine if 10000 try it thats 10000$ so it adds up to them and even if u pay small the site still gets money and u get nothing.. so would u give a random free money?
@nishanity (1650)
• India
23 Dec 06
hey... i dint know wat HYIP is... so i looked in wikipedia and was shocked... it seems No HYIP has, as yet, survived for very long without turning out to be a scam. HYIPs are Ponzi schemes, in which new investors (usually unwittingly) provide the cash to pay a profit to existing investors, which they typically then withdraw leaving nothing to pay the new investor. This approach allows the scam to continue as long as new investors are found and/or old investors leave their money in the scheme, known as compounding (because even higher profits are promised).
i am totally shocked!! i mean if no HYIP was genuine so far, then y do people still trust in it? and i dont understand how people can cheat other people like this!! wat is happening to this world? lol
@vipul20044 (5794)
• India
23 Dec 06
Well i dont
I just stay out of those programs that ask us to invest as i dont have that much fortune or money that i can waste on unneccesarily and then whats the guarantee
@johnalan (64)
• Malaysia
23 Dec 06
Most of the HYIP are scam and some are really good paying sites that will really pays you well.
Everything you invest in HYIP are on your own risk.
You never know if you never try.
We learn everything from our lost, so don't be scared to try anything.
I doing some investment on HYIP and the admin is very honest and told us every penny he use to spend on how to get money to pay us.
Everything in this world are always comes with RISK.
@donnaheff (158)
• Nigeria
23 Dec 06
Here there is this hyip I registered with but when I got back, they were no where to be found
