Cash App Pyramid Scheme 800. — jt not jeremy (@imjustjt) december 13, 2017 Once the circle is full, the founder takes the $800 and then the other people start their own circles asking people to pay $100 to join. In the late 1980s, something called the “airplane game” started popping up around the country in places like oklahoma, miami, tampa, rochester, los angeles, and others.
Well, the last time i checked, this is exactly how a pyramid scheme works. While pyramid schemes go by various names, they said, the “blessing loom” is prevalent now and participants are asked to wire $100 to start at the outside of the “loom” and they are told.
Julia glum writes in a lengthy exposé for money.com that the weekly exchanges were originally popularized.
The pyramid scheme has been appearing in newsfeeds and circulating online over the past week, targeting people who may never have heard of them. Investors are misled about the likely returns. Every new member has to pay a fixed amount as a joining fee. While pyramid schemes go by various names, they said, the “blessing loom” is prevalent now and participants are asked to wire $100 to start at the outside of the “loom” and they are told.
