Happy Monday!
So a few weeks ago I went on a little rant with my blog post about all the latest wave of ponzi schemes that had been popping up in Sweeva. In case you missed it, here’s the link:
https://www.getrichwithjerry.com/ponzi-scheme-frustrations
Since then I have made it a point to call out the scam sites whenever I see them. It’s been a lot of fun and I think it has put a spotlight on a lot of the people promoting this junk. I suspect most of the people promoting these things are ignorant to how bad they are but at least I think people are starting to think twice before investing their money in them.
This all started with with the “profit sharing” scams which are now popping up all over the place. However, now it appears that “doublers” are starting to make a come back.
Doublers are nothing new. In fact they were quite the rage a few years ago.
Here’s how a doubler works. It’s basically a straight line matrix. In a perfect system you pay your entry fee and you receive a position at the bottom of the matrix. Every time 2 new people join the matrix the person at the top receives double their money back and is removed from the list.
So if you are in position number #1, you double your money when spots #2 and #3 are filled. The person in the #2 spot doubles their money when positions #4 and #5 are filled.
Easy right?
These things move like crazy when they first launch because everybody wants to be in the top spot. However things quickly slow down as the number of members needed to get paid gets higher and higher.
The person in the #50 spot needs to wait until member #100 joins to double their money. The person in the #100 spot needs to wait until member #200 joins. #1000 needs to wait for #2000.
Do you see where I am going with this?
I said this is how it works in a perfect system. In reality doublers are never a perfect 1:2 ratio. The people running the site need to get paid too, right? Then we add in affiliate commissions to get people to promote these sites and it really ends up being closer to a 1:3 ratio.
This is what is called a money game. If you join early you can get lucky and make money from the people who join after you. However if you join too late you may find that you will never get your money back because all doublers eventually stall out.
Why do doublers stall?
We already know it is better to join a doubler right when it launches. Well the people running these sites know this too. There is no reason for them to continue promoting a doubler that already has a few thousand members in it when it is far more profitable to launch a brand new doubler. This happens over and over again.
Most of the members know that doublers eventually stall out too. Would you rather invest your money into a doubler that already has a few thousand members or wait and join that brand new doubler that is launching tomorrow?
I used to follow doublers quite closely when they were popular a few years ago. I have never seen a doubler last for more than 1 month before stalling out. I’ve seen a couple of really popular doublers last a few weeks. In reality most doublers only last for a few days. I’ve even witnessed more than a few that only lasted a few hours before stalling.
When a doubler stalls the vast majority of members will never get their money back. Yes, some people will make money but they do so at the expense of many others. This is a classic ponzi scheme and is considered quite illegal.
I’ve only seen two new doubler sites but you can bet your money that over the next few weeks we are going to see dozens of new ones being launched. Lots of money is going to be changing hands. The owners of these sites are going to make a killing while thousands of people are going to lose their hard earned money.
So to summarize… doublers are bad, mmmkay?
Just say no to doublers.
Now, how long do you think it will be before “randomizers” make a come back?
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There are so many frauds and scams out there now and so little enforcement that people are now shying away from ANY product or service on the internet.
Hi Jerry – great post. These things seem to run in waves and they will run their course. Doublers, HYIPs and cyclers are the biggest reasons the general public think Internet Marketing is a scam. If this post saves one person from losing their money – all power to you
Amen brother. Preach that gospel! I guarantee you the two doublers you’re talking about will pop up next week with two new names, new graphics, etc. So tiring but I guess some people struggle so much at making a buck online that they even the idea of doubling their $200 is worth it.
Meanwhile there’s a certain company all told I’ve invested maybe $25-30k into that I’ve made multiple 6 figures from over the 6 years I’ve been in it. Go figure. That’s a lot better than doubling and it is long term residual income.
Thanks for calling out the scam sites on Sweeva. I appreciate you sticking your neck out to help other surfers/opportunity seekers.
Keep it up Jerry!
I saw you taking some heat in Sweeva over calling them out @Sweeva. It’s a shame people keep falling for this junk. Folks looking for the easy button and all that and I understand why they do, but it’s no wonder why people are so wary and afraid of decent online biz opportunities when they keep getting burned by junk like this. Keep up the good work trying to steer folks in a better direction, Jerry, you do a good thing there.
Sorry rather late. Why not base your next e-book on these things. It would be very welcome for newbies.
I agree that people get very wary of anything. One wonders why they stay on the internet. I have one young man on one of my downlines
who constantly send me letters saying I think it is a scam.
I have been trying to teach him for 18 months it is costing him nothing.
If he thinks it is a scam why does he not go away. If you wrote a book on all these scams I would give him a copy.
O for sure these doublers fail BUT i want to warn every one of a thief running a new scam it’s Fall-o.com
which is connected with flutterbuck !
This piece of garabge named Robert Kuntz stole over 1 million from 1000’s on Buzzbot.com ! NOw his father is head of this NEW con game goes by alais of B J Bishop real name is Darrel KUNTZ just do not join these thieves they never owned up to guarantee refund contract from before and will screw YOU over again and again ! Same dopes who got corn holed at the Buzzbot were grand fathered into the new scams !
all THE csams and theivery they were involved in can be seen at scam.com forum and on ripoffreport.com
I’m surprised you use BannersBroker name as a ‘scam’ to boost your site, Jerry. Yet, no evidence of any suggest BB is a scam. The reason is because there are none.
All that you explained above is ok, but want the facts on ‘bb’ since you use their name and yet don’t mention it in your text. Yes , I know you using BB as a powerful strategy to get people to your site and maybe join sweeva. Good luck on that.
Still, there is NOTHING to remotely suggest BB is a scam as your link extension suggest – not 1 iota on BB.
BB is AWesome!
I wrote this post nearly a year ago when Banners Broker was promoting itself as a simple straight-line doubler. Is that not the case anymore? I honestly haven’t given them much notice since.
Hi Jerry
Is Banners Broker a scam, what do you think?
It depends on how you define a “scam”. I think if a site owner intentionally misleads people and doesn’t pay money that is owed to them then I think that site would be a scam.
A ponzi/doubler/pyramid scheme might pay out money that it is owed but based on the way they are setup they are definitely “scammy”. That’s for the reasons I list above in this post. They can’t pay out more money than they bring in. So while some people will make money they are doing it at the expense of the majority of others who will lose money. It is a system that is designed to fail for the members in the long run but definitely make a profit for the site owner no matter how long it lasts.
BannerBroker has been around for over a year so I don’t think that they are a scam. However, I don’t know enough about how they work to say if they are scammy. Apparently their product is banner impression but I have never heard one of their affiliates mention this. Affiliates usually promote it as more of a scammy opportunity but I can’t blame BB for that. If their product is any good I would love to see someone share their stats as far as monthly impressions and click thrus from their banners. If the product is no good I would say stay away regardless of what their compensation plan is.
So is banner brokers a scam or not?
Is it a scam? I would say no. I know plenty of people who have been paid and I give the owners every benefit of the doubt that they will continue to pay what they owe for as long as it remains profitable for them.
Is it a ponzi scheme? Absolutely. They just skirt the legalities of it by offering over priced banner impressions. Who in their right mind would spend $20 on 1,000 banner impressions otherwise? If you really want banner impressions buy them from 1800banners.com.
Jerry, someday someone will repay you in kind for calling a legitimate business a ponzi scheme just because they don’t understand the business you are in. Who in there right mind would pay more for the same floor plan in the same apartment complex than another person did that signed a lease just 30 minutes before them? Who in their right mind would pay $12 for a watermelon when another person bought a watermelon from the same lot for $10 from the same farmer just 5 minutes ago? Who in their right mind would buy a set of G2 pens from Office Depot for $4 when they can go to Walmart right across the street and buy them for $2? Yet Office Depot sells out of the same G2 pens and has to reorder just like Walmart. It’s called a free market, Jerry, and it makes the world go around. Jerry, maybe you shouldn’t be so quick to judge what is a ponzi scheme and what is not. Who defecated and made YOU the authority on what is a scam and what is not? Is Jerry a scam? Hmmmm. Maybe we should investigate and dedicate a website for the investigation. Maybe we should search the term: Jerry Scam to find out. As a matter of fact, I think we should all assume Jerry is a scam and just a way to make ad sense revenue until Jerry proves beyond a shadow of a doubt that Jerry is not a scam. After all, most “are they a scam” websites are a scam, aren’t they? See, Jerry? You should be ashamed of yourself. I believe you are a wolf in sheep’s clothing. I believe you are really disguising your site to be a blessing when, in reality, you are a curse. See, Jerry? Do you like it?
Just giving my opinion. If you are so sure it is not a ponzi scheme please explain the differences to me. I’m all about having an open discussion on the topic.
I understand the concept of an open market but when business A is selling 1,000 impressions for $20 and business B is selling 200,000 impressions for $20 I can’t help being a little suspicious. If you feel the 1,000 impressions you are getting are worth the price then say so! In the last year I not seen one person post a single advertising stat showing how good their banner impressions are. Doesn’t that seem a little strange to you? Don’t talk to me about cycling and doubling. Please share with us your BB click thru rates to show the world that it’s worth the price.
Am I a scam? I used to be. My business used to revolved around promoting all sorts of ponzi and pyramid schemes. Back then if someone told me I was promoting a scam I would have been just as defensive as you are now.
I got involved in BB on October from the present year and I was told not only about the doubling system but also the impressions tool that you could get for your own sites. They offer you their own link referral in case you don’t have one to promote. I honestly joined not for the doubler system, which is attractive anyway, but to promote my other sites. However, I am so disappointed that the “product” didn’t work as expected. They only placed a few impressions but NOT IN MY SITES but THEIR SITE. How convenient ! So I never could measure the real impressions vs hits on my sites with my analytic tool. So I was curious to this respect and I decided to find out a bit more.. and guess what! NOBODY CARES since BB double their money.. 90% of ppl are waiting for their money nor the product.. So that makes me question myself. Are they aware this could be a scam in despite their product doesn’t work? And the other thing is , NOBODY knows why in the world they are being doubled!. They claim that they “sell” our banner spaces to the publishers but, are really publishers paying double for our banners? That’s strange.. And to sum up, I never have seen any bannerbroker banner hang out in any website out there… That’s strange.
What sense does it have joining a MLM if not because its product too per se ?
Fuck you Jerry iannucci
The most intelligent response so far :)
I believe Banners Broker is a Scam/Ponzi scheme.
Ask the BB team and they never give you a straight answer, they divert the question to something else. They have added compulsory actions and if you don’t keep on buying traffic boosters and just miss one month they freeze your account for 6 months!!
Won’t last more than 2-3 years untill they reach “their money target”
Just found out of a relative investing money in this BB. Can`t understand that people in their right minds belive that any investemnet is going to give a 200% return in 6 weeks. If life was only that easy so none of us would have to go to work…
None of us would have to go to work and the world would be a better place. Imagine if the nations of the world combined their treasuries and invested in these doublers. There would be free magic money for everyone!
the tell me how is google earning absurd money…. why are they giving free mail ids? if there were 1000 members in facebook could they have earned this much?? banners broker is not just selling impressions but also panels whic represent spaces on the website where BB will put banners of their advertisers…. and as traffic comes to the publisher website… the panels or spaces generate revenue… next time you put something… please do your research…
Jerry you’re an idiot I’m making 5000 dollars a month.
Mark,you’ re an idiot…I’m making 1200 000 $ a month
Check out the is-Banners-Broker-an-illegal-Ponzi-or-isn’t-it debate here:
http://www.realscam.com/f8/banners-broker-hyip-ponzi-scam-897/