Is JustBeenPaid a ponzi scheme scam?
Is JustBeenPaid really a Ponzi Scheme Scam?
This question is one that is vitally important for me to answer. Before I can answer it, I need to define my terms. For the sake of ease, I will use Wikipedia’s definition of a Ponzi Scheme, “a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the organization running the operation.”
The scheme is named after Charles Ponzi, who famously scammed thousands with his tricks in the early 20th century. While he did not invent it, it bears his name to this day. Pyramid Schemes and Economic Bubbles are similar to Ponzi schemes, but I won’t have to explain economic bubbles in this blog post, you can just thank your government for those. Pyramid Scheme does not particularly fit with JustBeenPaid, because it has only a two-tier compensation program for referrals, as opposed to the other programs that offer many different levels.
JustBeenPaid scammy scheming Ponzi accusations
JustBeenPaid is accused of being a Ponzi scheme more than anything else. There are several reasons for this:
1. The advertising positions that you buy with JustBeenPaid do reward the holder handsomely.
2. Sounds like it might be “too good to be true”.
3. People are earning money online with it (always a very sure sign of a scam, right? haha)
I will address these individually, beginning with the 1st:
“The advertising positions that you buy with JustBeenPaid do reward to holder handsomely.”
Yes, they pay 2% for the advertising positions that you hold, and these payments are made daily (1.5% on weekends). The Ponzi Scheme camp would say that 2% is too high, and must be a scam. The argument is that the only way participants could be paid that amount is through using money that they receive from other members. Fair enough. But not accurate.
See, the “positions” that people buy are the main products that JustBeenPaid is selling. Depending on the number of positions someone has, that is how many credits they have for web traffic to their sites and for the advertising pages. We pay for that with the positions we buy. Think of it like internet real estate, though it is different. The positions cycle, so its more like renting the positions, and for the duration of that position the advertising space belongs to the holder.
I own a blog, tons of lead capture pages and marketing pages. Imagine how great this product is to me. Advertising positions are a legitimate, important, valuable product.
There have other products, including their books, which are products sold through JustBeenPaid. This is part of their account upgrades, so most participants purchase the books. This is why JustBeenPaid is considered a Direct Sales Company. Members sell these products and sell advertising positions, all legitimate products, and from the profit of these sales they make their daily payments. They can’t be a Ponzi if all the cash they pay out are profits from incoming monies they have for the advertising positions and books they sold.
“Sounds like its too good to be true”.
So….it must be a Ponzi. Haha. Please don’t think that I am dodging this bullet, but I want to go ahead and destroy this myth (which isn’t in the Bible, or the Constitution, but maybe in the back of a dusty book of old wives tales).
There are things that are “too good to be true” but we know that they are, so we don’t apply the “sacred wives tale” to them. Take Coupons, for example. Ever seen Extreme Couponing? That happens in real life. I worked for years in the grocery industry, so don’t tell me I don’t know what I’m talking about. We had people come into the grocery store and literally buy 2 thousand dollars worth of groceries and pay $20. I’ve heard stories of people getting Hundreds and hundreds of dollars worth of groceries, and the GROCERY STORE PAYS THEM. And THAT doesn’t sound too good to be true. The Grocery store gets money for some of the coupons, but where I worked, many of the coupons later wouldn’t even get accepted. Usually multiple cashiers would have to spend HOURS ringing stuff up. Stockers got paid to stock the shelves. The Grocery Store always gets gypped by extreme couponing. IT SOUNDS TOO GOOD TO BE TRUE. But, hey, old wives love coupons. So, it must not apply.
The truth of God’s Word sounds too good to be true, too. Jesus died to pay the penalty for all of our sins, and that we can become children of God by trusting in Him and turning from our sins. Too good to be true.
Another example: You can pay $1 a day to Gerber life insurance, and they day you die (No matter when that is) you have access to your $50,000.00 policy. Yes. Sounds too good to be true.
My conclusion: I’ve given three examples (from radically different fields) and the old wives tale just does not stand. My conclusion is obvious: Sounds can be deceiving. Sometimes things can SOUND too good to be true, but are good AND true. “The Sounds too good to be true” myth is bologna.
“People are earnings money with it, it must be a scam!”
Listen. If you are researching whether or not JustBeenPaid is a Ponzi Scheme, please be wise. I have read online reviews that base their criticism off of the music that the introduction videos have in the background. I am yet to see 1 single critical review by someone who actually knows what they are talking about. I read one online review that claimed, “JustBeenPaid does not have a product.” Hmmm. Do they even try?
JustBeenPaid is not a Ponzi scheme scam!
JustBeenPaid runs on sales. Sales of their many products, specifically their advertising positions (my favorite!) and their books.
Is JustBeenPaid a Ponzi scheme scam? No.
Filed under: JustBeenPaid
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