Loom Money Circle | What is loom | Is loom Legit Or Scam | Does Loom Pay | How Does Loom Work |How To Join Loom
What is Loom Money Circle
Loom circle is the latest easy money making scheme that has been moving around the country whereby you will have to join a Whats app group where you will be asked to pay a certain amount of money for you to enter a circle, and everyone in the group will be asked to invite people to join the group and make payment to an account which will be provided to you by the group admin, once someone makes payment and show evidence of payment, he or she will move from a spot in the circle to the next, the circle continue to grow until one person reaches the center of the circle, The circle splits/ divides into two to form two different groups and so on, the circle rotates till you receive your money with whooping profit.
Is loom Legit Or Scam
I cannot say for sure if the loom is legit or scam, one thing I know for is that every Ponzi scheme will collapse one day, the early you take part in it, the less risky you are to lose your money. Those who profit from Ponzi scheme business do who discover the biz on time and venture in it.
Loom money circle is a Ponzi, but the capital is small, you can risk it if you want to.
Does Loom Pay
As at the time of this post, the loom money circle has not recorded any system failure where someone is complaining if not being paid, but we cannot for sure conclude that the system is stable.
How does Loom work
Loom money circle in my eyes works like a Ponzi scheme that is repackaged in form of a circle, where user is asked to pay a small amount of money (which they can afford to lose ) to join the loom circle, and you are asked to invite at least two people to join the group, and people make payment to the name in the middle once his/her own payment is completed, he is kicked out of the group and the group divides into two and new group is formed. this is how it will continue until everyone receives his or her own money.
How to join Loom
To join loom money circle, you will have to be invited to the group by a friend or anyone, once you have joined the group, follow the group instruction and make your payment. After which you enter the circle and start inviting people to join the group so that your name will start moving closer to the center of the circle before you can get paid.
Is the Loom Ponzi scheme
Loom circle or blessing loom is a Ponzi scheme even though the circle formula tends to dispute that fact. but if the circle grow and keep breaking you look at the form it is taken, it has become a pyramid scheme which is the same form the popular Ponzi scheme MMM took before it crashes out.
Apply some easy mathematics and the truth, flaw and inevitable failure, of this “blessed” system quickly becomes clear: if one person needs 64 new people to enter the loom to be successful, that means that all those 64 newcomers also need 64 new people to enter for them to make their €5250, which already brings us to 64*64 = 4.096 people. From here the numbers rapidly skyrocket into the thousands, as 4.096 * 64 = 262,144 new people and so on and so forth, always calculating *64. “A huge number of people that could profit from this easy system”, one could think, and that’s the message the “Loom” likes to spread, but an easy set of calculations helps us to conclude that 64 times more people will eventually get disappointed as every ad infinitum system is bound to fail for there is no way there will ever be enough people to support its growth until the end of time…medium
Is loom money circle a networking business
The moment you hear invite people to complete a circle before you can get paid, common sense supposed to have told you that it is a networking business.
Networking business is a business that brings a whole lot of people together in a network form to form a business group.
Wikipedia defines it as “Networking is a socioeconomic business activity by which businesspeople and entrepreneurs meet to form business relationships and to recognize, create, or act upon business opportunities, share information and seek potential partners for ventures.”
Loom money circle uses the same techniques to function, bringing together a network of people who are willing to pay a token to join a circle, in turn, they make their own profit too.
what to know Before you get Loomified
Ponzi scheme business is high-risk biz which can make or break you. before you start getting loominfied
- Read Over this post again to understand the concept of loom money before you join the money wheel.
- Remember loom money circle is a Ponzi scheme will surely end one day
- Invest the amount of money you are willing to lose