I dont care if it is a ponzi scheme, I want to know what the chances are of loosing money in this investment over the long haul. I already have 3,ooo invested and am considering another 6000 to max out the investment. What do you think.
This is my only investment other than realestate
Hello Jacustomer,This seems to refer to another question, but there doesn't appear to be one associated with this account.Where have you invested? Nobody can determine anything at all for you if you don't give us the basic details.
This is a company called zeek rewards. you will have to check out the companys history and investment results.
Hello Jacustomer,I have looked into Zeekler before, and can tell you what I have found. While at this point, Zeekler seems to be a profitable enterprise, it's long term progosis is shaky. Some of this has to do with Zeekler itself (you may not care if Zeekler is a ponzi scheme, but if the Federal government does, you will lose everything you gained from it, and depending upon the extent of your dealings can face Federal indictment yourself). Others have to do with the present fluctuating state of US law with regard to on-line gambling, in general, and with penny auctions in particular.Firstly, there are articles on the web that Zeekler has had a very difficult time policing its penny auction site. Fraud abounds and they have been unable to put a stop to it. Here's the article explaining the problem. (See link) I have been told that the official word is that article above has been written by a disgruntled competitor. It's just as likely that the good things about Zeekler are written by their investors for the purpose of recruiting others into the program. However, even if you choose not to believe that there is a problem with their auctions, there remains the fact that Zeekler sounds very like a Ponzi scheme as described in the literature of the Association of Certified Fraud Examiners. I've linked you to the definition and you can see it for yourself. Ponzi schemes are illegal. I won't dwell on that, since you have said that you don't care that you may be involved in illegal activity. However, even without the government intervention, businesses set up along the lines of Ponzi schemes are self limititng. They need a perpetual source of new investors to pay off the earnings of the old one. Eventually the business model cannot be sustained, when the bottom can no longer support the top. The whole thing will then collapse, which is what happened, for example, with Madoff's Ponzi.Finally, and most importantly, the whole state of the law as to online gaming and auctions currently is in flux, and presently there is a lot of proposed legislation that may or may not hurt Zeekler. There are those who feel strongly that penny auctions will be outlawed, and they point to one set of facts, and then there are those who feel that they will be legitimatized, who point to another. I'm not equipped to break that tie. You can read what Federal government is saying about penny auctions here on the FTC's website and decide for yourself which camp you are in, but you at least have to acknowlege it as a potential problem that cannot be dismissed.On top of that, there's a bill in the House right now that seeks to license, regulate and legitimatize on line gambling, but to make it less attractive, the bill seeks to ban the use of credit cards for making online bets. The speculation is that if it is decided that penny auctions are going to be considered gambling, then it's the credit card legislation that would make its future uncertain rather than the fact that they are gambling sites. See Link to HR 1174For a much more in-depth look at Zeekler, there's a very long, but very informative blog review that the writer keeps updating as issues arise. He claims he is neutral about all of the facts he's learned, just calling things as he sees them, and he goes way, way beyond what I've give you here.It's an intelligently written, fascinating analysis. While he wouldn't invest in Zeekler and he points out all of the reason why in scrupulous detail, I think anyone who is interested in investing in Zeekler should read it. Even if you disagree when you are done, it's too comprehensive for you to just dismiss what he says. You should want to be able to account for his information differently than he does and to do so before you invest. You can find that article here.Good luck.