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.

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.

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.