The MMM Nigeria project has been a long running scheme operating on an international scale. Accumulating over 3 million users in Nigeria alone it is one of the biggest operations of its kind. After a maintenance break over the Christmas period many believed the operations had collapsed but in a twist of events the scheme has come back fighting!
“In a month, not only 30 percent will be added to your initial amount, but, it can increase itself due to Bitcoin price growth,” MMM’s letter to its participants partly reads.
Maintenance saw the scheme adopt the Bitcoin currency, encouraging users to deposit with the coin. Efforts to expand the business via aggressive marketing were also developed as the scheme encourages users to spread awareness of the program. This aims to expand the programs user base
To conclude, the return of the MMM Nigeria scheme may have been a sigh of relief for those already invested, but as with any ponzi scheme, eventually cash flow will be contrasted preventing further operations. The new conditions may seem ideal for both users and the company, but the nature of Bitcoin will make investments much more risky, as all transactions will be permanent and irreversible. The future of the program seems rocky as while promises are being kept, the lifetime of a scheme such as this is entirely dependent on deposits coming in and as warned by the Central bank this is a form of gambling and will put your assets at risk.
Disclaimer: BTC.NG does not endorse the MMM scheme and your capital will be put at risk if you enter investments with aforementioned companies.
