Need some advice about a referral program

[zainsheriff1991]

Just want to ask people's opinions about referral programs and if they're worth the time to do them?

I've come across one such referral scheme and it requires you to register, create a profile and then deposit $10. Once you follow these steps you need to refer 10 people, using a special referral link.

After this you get $50 credited to your account which you can withdraw the same way you deposited onto the platform.

People's thoughts? It seems legit but is it too good to be true?

Would appreciate any insights people may have.

 

[Pam Danny]

Such seems like a pyramid scheme. None has ever worked around the world

 

[Stifmeister]

This scam is very old. Its called a ponzy scheme.

You get paid from other people paying into the pot, as long as people keep paying in it will keep going of course, but the person at the top essentially can just run away with all of the money and 100% of the time they do.

There is absolutely nothing productive about such a referral system, no one produces anything, it's just a pot of money, that someone else holds.

Instead, find some actual offers that give you lifetime revshare, like VPNs, subscriptions, hosting, adult content etc etc.

 

[zainsheriff1991]

Such seems like a pyramid scheme. None has ever worked around the world

Thanks for your feedback. Yes it does seem that way. The 10 referrees seem to be paying the referrer, from their own initial deposits.

But if each person gets paid from their own referrals doesn't that system work?

 

[kilbourne]

Referral programs are good - incentive.

Ponzi's and MLM schemes, not worth the time and headache.

 

[zainsheriff1991]

This scam is very old. Its called a ponzy scheme.

You get paid from other people paying into the pot, as long as people keep paying in it will keep going of course, but the person at the top essentially can just run away with all of the money and 100% of the time they do.

There is absolutely nothing productive about such a referral system, no one produces anything, it's just a pot of money, that someone else holds.

Instead, find some actual offers that give you lifetime revshare, like VPNs, subscriptions, hosting, adult content etc etc.

Thank you for taking the time to respond.

Yes, I hear what you're saying.

But the payouts seem legitimate.

I know a few people who've done it and they've all gotten $50 from $10 deposits.. they said the hardest part was finding 10 people to refer, once those 10 people created an account and deposited $10 then that initial referrer got their $50 Payout.

Seems a simple but efficient system no?

The company seems to benefit by taking the other $50 from the 10 people referrals plus the compound exponential growth it'll get I guess.

Maybe I'm missing something.. please let me know..

Thoughts?

 

[zainsheriff1991]

Referral programs are good - incentive.

Ponzi's and MLM schemes, not worth the time and headache.

Yes I agree just trying to work out if this is actually a ponzi scheme or not because the payouts are consistent and only dependant on the referrals. As in, when I follow the steps, my friends/referrals are the ones paying me not the actual company.

It seems more like a forced crowd funding system?

So you have a group of 11 people and have 10 of those people are raising a small amount of funds to support that 1 friend etc.

Maybe bad analogy, I don't know?

 

[veezup]

Just want to ask people's opinions about referral programs and if they're worth the time to do them?

I've come across one such referral scheme and it requires you to register, create a profile and then deposit $10. Once you follow these steps you need to refer 10 people, using a special referral link.

After this you get $50 credited to your account which you can withdraw the same way you deposited onto the platform.

People's thoughts? It seems legit but is it too good to be true?

Would appreciate any insights people may have.

can i ask what referral scheme / website this is?

 

[zainsheriff1991]

can i ask what referral scheme / website this is?

Yeah sure.. but not sure how to share the name as I think it goes against the rules? It's called setslearning.c o m