Is Loom Money Nigeria real? Will I get paid if I join?
Here is proof:
- Typically in a pyramid scheme, you pay to join.
- The scheme relies on you then recruiting other people to join up and to part with their money as well.
- For everyone in the scheme to make a profit, though, there needs to be an endless supply of new members.
- In reality, the number of people willing to join the scheme, and ultimately the amount of money coming into the scheme, will dry up very quickly.
- For every person to eventually make the kind of money, Loom is promising, each Whatsapp group needs to always keep on growing with new members.
- For the first person to be paid, he/she needs 8 people
- For those 8 people to be paid, the Whatsapp group needs 8 x 8 = 64 new people
- For these 64 new people to get paid, the Whatsapp group needs 64 x 8 = 512 new people
- For these 512 people to get paid, the Whatsapp group needs 4,096 new people.
- For these 4,096 members to get completely paid, the Whatsapp group needs 32,768 new members.
- You can continue the calculation.
- Every Ponzi Scheme will certainly get to a point where there’s no new investors and no new people coming into it and once that happens, the system will crash.