6 ms·
I live in a retirement town where many of the retirees have put their entire life savings and more into USI Tech. As far as I can tell USI Tech has properties o
by huffpopo 9y ago
I live in a retirement town where many of the retirees have put their entire life savings and more into USI Tech. As far as I can tell USI Tech has properties of a classic pyramid scheme. I wonder how much this and other similar schemes are driving the price of bitcoin. I also wonder what will happen when entire towns get wiped out without recourse.
- riffraff 9y agoI feel bad for them, but putting one's own entire life savings in _any_ risky investment seems like a bad idea.
- huffpopo 9y agoI feel bad for them as well. They are very trusting of their friends and USI Tech has a MLM mechanism to it. At the moment they are pretty obnoxious about it and are feeling bad for me.
- sgt101 9y agoCan they get out? I mean this run must have made them money; isn't now the time to jump?
- shthed 9y agoHave to wait up to 7 months to be able to get your money back out of USI Tech (they sell contracts that pay 1% per day for 140 business days) but the pyramid scheme will probably crash before then.
- sgt101 9y agoIs there a cash analysis of that anywhere? I guess the question is what happens if BTC drops n% for n days...
- spilk 9y agoI see a lot of similarities in the kind of people that get pulled into Amway/Herbalife/etc and Bitcoin people.
- hndamien 9y agoYou would be mistaken, but I can see how you may conclude that. See Dash/ Bitconnect for a more apt comparison.
- wrinkl3 9y agoIn my experience there's stark difference between those who got into the cryptocurrency culture at large, and those who just trust some specific platform/service to make them rich riding the Bitcoin wave. The latter group certainly tends to have MLM mentality and the services they use usually have all markings of a scam.
- AJ007 9y agoWhat area of the country is this? Google Trends put Hawaii at the top for the US, Guam for global.