Let`s see what is a Ponzi Scheme and is JBP a Ponzi scheme
This question is one that is vitally important for me to answer. Before I can answer it, I need to define my terms. For the sake of ease, I will use Wikipedia’s definition of a Ponzi Scheme, “a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the organization running the operation.”
The scheme is named after Charles Ponzi, who famously scammed thousands with his tricks in the early 20th century. While he did not invent it, it bears his name to this day. Pyramid Schemes and Economic Bubbles are similar to Ponzi schemes, but I won’t have to explain economic bubbles in this blog post, you can just thank your government for those. Pyramid Scheme does not particularly fit with JustBeenPaid, because it has only a two-tier compensation program for referrals, as opposed to the other programs that offer many different levels.
A Ponzi scheme have some things in common:
Now if we take a look at JBP
Because JBP pays a big % back to the members does not make it a Ponzi. People will say it is to good to be true, but lets look at that saying: "IT IS TO GOOD TO BE TRUE"
There are things in this world that is to good to be true, I agree with you there, but we cant judge everything the same in this world.
Take Coupons, for example. Ever seen Extreme Couponing? That happens in real life. There are people coming into the grocery store and literally buy 2 thousand dollars worth of groceries and pay $20. I’ve heard stories of people getting Hundreds and hundreds of dollars worth of groceries, and the GROCERY STORE PAYS THEM. And THAT doesn’t sound too good to be true. So, it must not apply to this?
Another example: You can pay $1 a day to Gerber life insurance, and the day you die (No matter when that is) you have access to your $50,000.00 policy. Yes. Sounds too good to be true.
So sometimes it sounds to good to be true but in reality it is true.
So is JUST BEEN PAID a Ponzi scheme? In my opinion and in reality, no!!!
JustBeenPaid runs on sales. Sales of their many products, specifically their advertising positions and their books.
The scheme is named after Charles Ponzi, who famously scammed thousands with his tricks in the early 20th century. While he did not invent it, it bears his name to this day. Pyramid Schemes and Economic Bubbles are similar to Ponzi schemes, but I won’t have to explain economic bubbles in this blog post, you can just thank your government for those. Pyramid Scheme does not particularly fit with JustBeenPaid, because it has only a two-tier compensation program for referrals, as opposed to the other programs that offer many different levels.
A Ponzi scheme have some things in common:
- Mainly they don't have any sort of product.
- They pay there older members with the new members money that was put into the scheme(don`t use profit that the company made to payback the members).
Now if we take a look at JBP
- Just Been Paid have products (advertising positions, E-Books etc.)
- They dont pay the old members with the new members money, they pay you with the revenue(profit) the company have made through the sales of the products
Because JBP pays a big % back to the members does not make it a Ponzi. People will say it is to good to be true, but lets look at that saying: "IT IS TO GOOD TO BE TRUE"
There are things in this world that is to good to be true, I agree with you there, but we cant judge everything the same in this world.
Take Coupons, for example. Ever seen Extreme Couponing? That happens in real life. There are people coming into the grocery store and literally buy 2 thousand dollars worth of groceries and pay $20. I’ve heard stories of people getting Hundreds and hundreds of dollars worth of groceries, and the GROCERY STORE PAYS THEM. And THAT doesn’t sound too good to be true. So, it must not apply to this?
Another example: You can pay $1 a day to Gerber life insurance, and the day you die (No matter when that is) you have access to your $50,000.00 policy. Yes. Sounds too good to be true.
So sometimes it sounds to good to be true but in reality it is true.
So is JUST BEEN PAID a Ponzi scheme? In my opinion and in reality, no!!!
JustBeenPaid runs on sales. Sales of their many products, specifically their advertising positions and their books.