Do Not Fall For Bitcoin HYIP (High Yield Investment Programs). Newbie Warning!

https://steemitimages.com/0x0/http://www.randyhilarski.com/wp-content/uploads/2016/10/High-Yield-Investment-Programs-HYIP-Bitcoin-Steemit-Scams.jpg # HYIP Scams are All the Rage on Social Media and in Crypto Currency Circles. # The High Yield Investment Programs better known as HYIP target new users of Bitcoin promising huge returns in a short amount of time. The problem is that these are the purest kind of Ponzi scheme available. ## What is a Ponzi Scheme? ##  ### Examples of HYIP that You Need to Watch Out For. ### https://steemitimages.com/0x0/http://www.randyhilarski.com/wp-content/uploads/2016/10/assets-bank-hyip-bitcoin-scam.jpg https://steemitimages.com/0x0/http://www.randyhilarski.com/wp-content/uploads/2016/10/sky-profits-oil-hyip-bitcoin-scam.jpg #### Why Do People Fall for This Shit? #### Ok, I admit that when I was a Bitcoin newbie back in 2014 I did it. Yes I admit it, are you happy now? Everything was going along great for about a week before the payouts started arriving late and then the site disappeared along with .25 BTC. Yes, at the time it was only a little over $100 worth of BTC but it still pissed me off and I vowed to learn about these shady programs. https://media.giphy.com/media/Hg3nM8nyYVO36/giphy.gif Imagine all the poor schmucks who lost much more than I did. It must have been quite painful. The worst part is that it makes Bitcoin look bad even though Bitcoin is innocent. #### What Can You Do About HYIP Scams? #### The next time you see one on Steemit, Flag it! If you see them on a Facebook group, report them to the admins. It is quite simple, they can't survive if we stomp them out. ### If Something is Too Good to Be True, You Need to Investigate. ### https://img1.steemit.com/0x0/http://www.randyhilarski.com/wp-content/uploads/2016/10/Randy-Banner-Steemit.jpg
Do Not Fall For Bitcoin HYIP (High Yield Investment Programs). Newbie Warning! posted first on https://steemit.com/@hilarski