08-11-2011, 05:44 AM
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Raise Your Weapon
Industry Role:
Join Date: Jun 2003
Location: Outback Australia
Posts: 15,601
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Sorry to burst your bubble but it's a scam.
Quote:
There seems to be a pyramid scheme which is growing very popular among get rich quick types called "silver snowball".
The way it seems to work is it costs you $42.50 to sign up and you get a coin worth $20, but when you sign up a further people for every 2 you sign up you recieve a silver coin.
for example.
1 person pays $42.50 ($20 goes to buying their coin, $10 goes to paying for half the value of the free coin the person that signed them up gets, and $12.50 go's to the founder for postage and profit)
So once a person pays $42.50 all they have is a coin worth $20, unless they sign up a more people, once they sign up 4 people they start to get a profit in the form of free coins.
However like any pyramid scheme this has to comes to an end, because if every body that joins signs up a further 4 people by the 17 level the amount of people needed in the system is well over 10 billion.
The worst thing is when it hits it's saturation point over half of the people involved will be out of pocket and the founder will be rich.
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