Mr Richard,please educate me more about #PIPCOIN.Is it another pyramid or Ponzi scheme?
Several people have asked us about Pipcoin, asking if you can really earn the 35% monthly profit they claim. Is it real or a scam?
It’s a scam.
Their web site describes it as “Africa’s first P2P Cryptocurrency” and they say “you don’t have to make contracts or pledge your property.
In Pipcoin there are no lenders and no debtors. Everything is very simple: one participant asks for help – anotherone helps.
The only thing that Pipcoin demands from its participants is to be honest and kind to each other.”
This sounds just like the other big Ponzi scheme at the moment, MMM Global.
A mysterious scheme where money just grows magically.Smartly, what they’ve done, just like MMM Global, is to claim to have invented a new currency.
MMM Global has the bizarre ‘Mavro’, these guys offer you the chance to trade in their mysterious Pipcoin, something they’re trying desperately to imply is like Bitcoin, a genuine virtual currency. Alternatively, you can try your luck with stock investing, which is an age-old but relatively stable platform. Finding out live RDSB share prices is a good start.
The closest they get to explaining how you can make your fortune is when they say that after joining the scheme “you will be exposed to many options of making income such as buying coins from a minimum of R100 to registering an affiliate for a bonus of 10%. Traders can only withdraw their funds after a month or can choose to leave it to grow higher as calculations.”
That’s just a sequence of words with precisely no meaning.
And the 35% return? We all know, don’t we, that there is no genuine investment that can make that sort of return.
If there was, don’t you think bank and big investment companies would be doing it? The only way they can pay out 35% is by using the payments from newer members to pay older members. That’s called a Ponzi scheme.
Pipcoin is no more than a Ponzi scheme that can’t explain how it works or where money will come from, that hints at the current sexy online currency issue and which claims you can make 35% profit per month.
Don’t waste your time, effort and money in yet another scam.