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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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53233453 No.53233453 [Reply] [Original]

brainlet here. I feel like I'm missing something obvious but idk.. Why don't we start some sort of club where everyone donates to each other? like if we all just game 10 bucks to one guy. then it's my turn to be 'the guy' and everyone pays me 10 bucks. and so on. Is this a dumb idea? am I describing a ponzi scheme or something else?

>> No.53233458

>>53233453
>game 10 bucks
gave*

>> No.53233464

>>53233453
The problem with that is this is an anonymous imageboard. You don't know who I am and I don't know who you are. Unironically, this works better on plebbit with their username system. See r/millionairemakers for further reference. Ciao!

>> No.53233471

>>53233464
so if I did this with a group of friends instead of anonymous scammers or plebbitors, could this work?
I only have one friend, but he has lots of friends.

>> No.53233473

>>53233458
Instead of me giving you ten dollars, then you giving me ten dollars, why don’t we just keep our own ten dollars so that we can buy a hot individual pizza with all them toppings and maybe even a small soda?

>> No.53233481

>>53233453
You are a brainlet
The problem with that model is no new money or value is getting created
Realistically, it's the same as putting money in your piggy bank every week and then opening it at the end of the year

>> No.53233485

>>53233473
if 10 people got me 100 dollars I'd have 1000 dollars. then I'd just have to give them back 100 dollars, that leaves me with 900 no?

>> No.53233490

>its his turn to get gibsmedat
>no longer talks to group anymore
I found a hole in your gay idea

>> No.53233500

>>53233490
>>its his turn to get gibsmedat
>no longer talks to group anymore
then he gets kicked out and replaced

>> No.53233550

>>53233481
how so? if we keep new members coming that's new money, no?

>> No.53233806

>>53233453
this is the traditional investment scheme of much of southeast Asia

>> No.53234127

>>53233550
kek. there's a term for that.

>> No.53234137

>>53233806
Kek OP just reminded me of some flip girl basically explaining this to me and I was so confused. Sounded retarded.

>> No.53234177

>>53234127
right... shit.

>> No.53234198

>>53233806
thanks, I looked it up and yeah I'm basically describing an African susu or Indian chit fund. Sounds useful for downpayments and shit but I'd rather save up on my own, can't trust my own people

>> No.53234244

>>53234127
it's not a pyramid you see
hmm...

>> No.53234262

>>53233485
If there are 10 people and every one of them gives you 100$ that means you have to give them back 10x100$ so it leaves you with no money

>> No.53234336

>>53233485
The absolute state of /biz maths.

>> No.53234445

I had a Somalian guy at work and he did this with a bunch of other Somali guys because he was super Muslim and wasn't allowed to get a loan. It was pretty funny to watch him come into work one day and say ("I could just put the 10 dollars a month in the bank!" Like he'd never thought of it lol

>> No.53234465
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53234465

>>53233485

>> No.53234493

This is basically a ponzi/scam. Let's say 10 people get together and do this. Each of them deposit 100 dollaroos to a pot each month. They take turn every month to hold the pot. IF one of them needs to hold to pot to invest or whatever but it's not his turn then he pays 10% extra to hold the pot that month.

Problem is 1 of them could take the money and run anytime. Even if you do this with your family or friends it won't work long term

>> No.53234527

>>53234262
why would I give 10x$100? they only gave me 1x$100 each.

>> No.53235684

>>53234527
Yeah, but you also have to give 100$ to every single one of them. If you only give 100$ to one of them, the next person gonna get only 100$ from 9 people, the next one from 8 people etc

>> No.53235705

>>53233453
https://en.wikipedia.org/wiki/Susu_(informal_loan_club)

>> No.53235712
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53235712

>>53234198
>chit fund

>> No.53235725

>>53233485
brainlet confirmed

>> No.53235896
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53235896

>>53233453
Breathe brainlet. Breathe. You know that most of us here present are brainlets right? You wanna know what separates us from, lets say, a novel writer? Ingeneuity, the creativity we have is far more powerful. That's why coins like VINU are stomping: creativity and refusal to die

>> No.53235966

>>53235712
true financial gore my bhenchod

>> No.53236000

>>53234493
Tontine.

>> No.53236025

the state of biz

>> No.53236036
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53236036

>>53233453
are you subnormal or just brown?
serious question.

>> No.53236146

>>53233453
This model is based on fear and violence, the risk is: if you don't participate and pay back what you owe: you get violently beaten up & robbed by your peers. This model gives you an advance tho, you're *forced* to participate once you receive funds from your peers or again, violence. If you haven't received anything from such operation, you'd lose money since your round isn't up yet. Simple but risky!

No actual value is being created other than fear :D

>> No.53236166

>>53233806
>>53236146
Yes, here in South East Asia, most in Singapore, Indonesia and Malaysia call it "duit kutu".
>https://dollarsandsense.sg/grandparents-manage-risk-save-money/
It's stupid but fun? don't get caught up with it lol

>> No.53236216
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53236216

>>53233453
lol you are missing that you'd have to give all the money back to continue the scheme and be left with the same amount you started with.

Example: Every day for 10 days, 10 people have to give 1 person 10 dollars, this means each person is giving 90 dollars every 10 days. On your day, you get 10 dollars from 9 other people, which gives you 90 dollars. But for the last 9 days you were paying 10 dollars per day to whoever's day it is to recieve 10 dollars from everyone. So you're no better off than when you started.

Day 1: A gets 10 dollars from B, C, D, E, F, G, H, I, J, and K. A has 90 dollars, everyone else is down 10 dollars.

Day 2: B gets 10 dollars from C, D, E, F, G, H, I, J, K, and A. B has 90 dollars, A has 80 dollars, everyone else is down 20 dollars.

Day 3: C gets 10 dollars from D, E, F, G, H, I, J, K, A, and B. C has 90 dollars, B has 80 dollars, A has 70 dollars, everyone else is down 30 dollars.

Day 4: you get the picture.

>> No.53236766

>>53233453
Thats how ((they)) are so powerful. They dont donate to each other but only trade with each other

>> No.53236936

>>53233453
This has already been invented and is called a lottery

>> No.53236964
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53236964

>>53233453
Great idea op! Can I be the first?

>> No.53237567

>>53233485
>10 pepole gib me momey
>10 pepole minus me is 9 pepole
>9 pepole tmies 100 dolla is 900 dolla
Is that your reasoning ? If yes it's a common mistake. You should add yourself to a group of 10 people to get 11 . It's called Ostrogradsky's theorem.

>> No.53239064

>>53233453
Sounds like what you're describing is a very crude version of a ponzi scheme

>> No.53239102

>>53233453
This is the dumbest shit I’ve ever heard on this stupid faggot filled site

>> No.53239119

>>53239064
It’s not too different from what the government kikes do with our tax dollars

>> No.53239160

>>53233453
This is just a lottery