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Cash Gifting??????

Discussion in 'Making Money' started by jennifermoreno, Jul 9, 2008.

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  1. jennifermoreno

    jennifermoreno Newbie

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    Just a quick questions:

    What do you guys think about those cash gifting programs?

    Are there anybody doing it?

    Is these legal?

    Does it work?
     
  2. entity

    entity Registered Member

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    Cash gifting is lame.
     
  3. AmazinAzn

    AmazinAzn Regular Member

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    Agreed. Don't bother with cash gifting.
     
  4. lazarus4444

    lazarus4444 Registered Member

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    They are all scams. Solid idea but run by mostly greedy people.
     
  5. caretaker2007

    caretaker2007 Power Member

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    It is called a ponzi scam.
     
  6. AboutBizz

    AboutBizz Jr. VIP Jr. VIP Premium Member

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    Jen,
    do a search here at BHW and you see we have had a few different people touting the benefits of gifting...if you do the search you'll see I am not a fan at all of them. I will be happy to share info with you if you PM me.
     
  7. mwari23

    mwari23 BANNED BANNED

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    me personally, i wouldnt do it because of the high start up. plus there are some scam sites out there so you have to find one that is legit. but i have several friends that are doing it and make an absolute killing with this. so there is money to be made with it. and it is legal.
     
  8. caretaker2007

    caretaker2007 Power Member

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    Yeah, I am serious. Just like the scam artists that have turned investment clubs in to ponzi scams. They find something and twist it to their own illegal activities trying to give it a nice glossy coat. For some it works, for others we can see what it is.

    Look at it this way, if you could get cash without getting new members why would you? Keep it for yourself. Too bad you need new members to join to pay the older members, thus, a ponzi scam.

    I am hoping you are not one of those cheerleaders that is going to start calling people stupid for not seeing this scam the way you do.
     
  9. jburrtucaz

    jburrtucaz Regular Member

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    Unfortunately, the cash gifting opportunites, as the majority of them are run, are in fact illegal in the US. There have been many that have been shut down and the starters of the program have been prosecuted because they are just ponzi schemes. The new opportunites all claim to have found a loophole that makes them legal, but as soon as enough people lose money and start reporting this to the authorities, you will see them getting shut down as well. It's a system that can't be sustained because there's no end product being sold and eventually you'd run out of people to receive the "gifts" from.
     
  10. AboutBizz

    AboutBizz Jr. VIP Jr. VIP Premium Member

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    If you have any serious questions...simply call your state Attorneys General Office and ask them. Those will be the first ones serving you with legal papers if it is indeed illegal. In fact I understand some of their guys are actually edjamacated
     
  11. caretaker2007

    caretaker2007 Power Member

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    Yep, you are a cheerleader. Just by you childish reaction.
     
  12. Extremelyfastcash

    Extremelyfastcash Newbie

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    I do cash gifting full time pretty much. Advertising is the key. If you know how to advertise it's easyyy moneyy$$$.

    Ex
     
  13. SEBEK333

    SEBEK333 Newbie

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    i think we all scam to some degree, even justify it.
    can u pm me info on cash gifting, do u have a system u
    use in particular that works
     
  14. jennifermoreno

    jennifermoreno Newbie

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    Thanks Guys for your comments.

    I have talked to a lawyer that told me that doing a cash gifting is absolutely not illegal. However, asking, recruiting or seeking people to make a cash gifting is absolutely ILLEGAL.
    Therefore, giving money to a friend is legal, asking people to join an Organization to make a cash gift is illegal and punished if you look under the Fed..ral Trad.. Com....... you will find some pretty neat articles about it...

    In other words If you belong to this type of org... I will suggest that you ran away right now, if you have got some money great but be aware that any time they can find the whole chain!!!

    I' d rather sleep on my two ears and struggling to make money using the internet, than joining getting heavy cash knowing that one day or another I ll get caught!
     
  15. jburrtucaz

    jburrtucaz Regular Member

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    That's exactly correct jennifer. The way that most of these deals are run is illegal in the US, but they try to convince people that the loophole in the law makes it ok for them to operate as they are. They'll say that "We would've been shut down if what we were doing was illegal". The thing is not enough people may have complained about it yet, but once they do, a lot of those people are gonna wish they tried something else to make money.

    And just because a lot of people make money with something doesn't mean that it's not a scam. Hell it wouldn't be a scam if someone wasn't making some cash off it! lol
     
  16. caretaker2007

    caretaker2007 Power Member

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    Jennifer, giving cash gift is legal, no argument there, or a lot of grandma's would be felons.

    The way these 'programs' work is that they are not giving gift's, but cycling money through a ponzi scheme.

    Also, Jennifer, great job on doing the research on this, if more people did this the scammers would be out of luck.
     
  17. Rambo

    Rambo BANNED BANNED

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    There is a simple sentence to simplify this thread:

    Cash Gifting is a rubbish yet technically sound idea and most sites are scams.

    Also I think money can be invested in many better ways to make even more money.

    Most people who partake in cash gifting are the same people who will spend their whole lives searching for that magic ATM machine that allows withdrawl of endless cash.

    Good luck with that.
     
  18. GoldenTiger

    GoldenTiger Junior Member

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    Ok, cash gifting MAY work, but dont forget what it actually is :a pyramid scheme.
    The only way to continue making money, is to keep recruiting people to send you money, and have them recruit people to send them money, etc.

    Yes there have been some programs running for years without collapsing... but sooner or later this is what will happen:

    - Pyramid collapses, because not enough people join to keep it running.
    - Owner takes everyones money and runs away.
    - Authorities intervene and shut down the program.

    In either of these cases, you lose.
     
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  19. Extremelyfastcash

    Extremelyfastcash Newbie

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    Ya Rob is big time bro. I wouldnt waste my time trying to convince people I stopped doing that a long time ago. This is one of those things where you either get it or you dont.

    Ex
     
  20. Entrepreneur

    Entrepreneur Regular Member

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    What you mean is you either get lucky or don't.

    God knows why i always post in these stupid fucking cash gifting threads.

    Legality is irrelevant, because that's not the reason why it's stupid. For those that play the gifting game, think this simple math.

    Cash gifting scheme starts in country with 100,000 people. Speculation of the optomistic sort, forgetting outright stupidity, 1% of people are interested, so 1000 people.

    Person A starts ponzi scheme using the Cash gifting facade.

    He sends 1000 mailings out, 1% join, and pay him £100 each for the right to do what he has just done.

    These 10 new people send out a mailing to 1,000 people each, as well as the founder, person A, therefore 11,000 people, 1% join each persons scheme, so 10 people each, 110 in total from the new 10 people's mailing plus person A's.

    There's now been 12,000 people sent out to and there's 121 people in the scheme.

    The new 110 people send out a mailing to 1000 people each, 110,000 people in total.

    Now, in theory every single member of the country has been mailed to, plus the earlier 11 members also send out an mailing. So infact 121,000 messages sent out.

    I earlier stated that only 1% would be interested, so baring in mind there's 12,000 who've already seen the offer, plus the original member means that from this mass 121,000 mailing, in a country of 100,000 people, only 879 are left to join.

    Okay we now have 1,000 members, and 121 have made profits. The first member made 30 times everyone's investment (assumming scheme doesn't have tiers).

    The second group made 20 times there investment, and the last group made somewhere between 8-10 times there money back.

    Okay the new 879 members, plus the earlier 121 do another mailing of 1,000 each.

    1,000,000 mailings are sent to 100,000 people, there's no one left to join, so the last 879 members have lost their money to the previous 121.

    So out of a country of 100,000 121 people made money, that's 0.1% chance of making money, and around 0.9% chance of losing out in my example.

    Obviously this is extremely simple, and is obviously not representative of numbers, but the point is clear. At some point, there's no one left, who is stupid enough to pay someone for the right to get people to pay them, so that they can then have the right to get people to pay them.... It's a numbers game, not eveyone is stupid and not everyone can possibly profit, it's completely and utterly impossible, there always comes a point where a great many lose money.

    Russian Roulette anyone?
     
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