If you're into crypto you probably have heard about Million Money and other similar copies (smartcontracts sitting in different blockchains) not controlled by anyone, but "programmed to distribute incoming transfers among the participants according to an specific algorithm". Let's see what's this really means by taking out fancy words and technicalities and discover if it's a scam.
Okay let's put this in simple words: You access an online app through your wallet, invest (send) some money there and then convince others to do the same so you can earn money. That's pretty much it.
You will be bombarded by people telling you that it is a "100% safe investment." That is "risk free since the smartcontract can't be changed by anyone, and everything occurs in the blockchain, is fully decentralized, your payments are received directly in your wallet" bla bla bla... And cherry on top, so many people have received payments already. Yes, we know all that. So it must be legit?
Well is time to do the hard questions.
Where the hell all the money is coming from?
You don't need to be very bright to understand your earnings are simply coming from new people investing in this shit app smartcontract (a.k.a from your referrals). Btw your money is paying someone else everytime you "upgrade to a new level" for example.
So basically what the magic contract does is exactly that "redistribute money among participants". If you do not understand the system by now and still believe is legit, you are strongly advised to check on what a Ponzi scheme is!
We also read somplace that is "supported by miners" and that's just bullshit very unspecific. So here's the real answer to the question: all the money comes from people been dragged to this with the promise they will get 32 ETH or so.
Which products or services support your earnings?
None! The product (service) is the smartcontract itself. An automated matrix to send other people's money to you and viceversa. All earnings come from "redistribution". Million Money doesn't invest your money anywhere. Million Money doesn't have any real products. So ask yourself again, how can money grow without investment and without products to sell?
"But it pays!"
Shout the idiotic people. Granted. It pays while more and more people keep putting money into it. But what happens when there's no more people willing to invest? Or being more realistic, when the ones entering are very few?
A Slice of Truth
Don't just take our word, here we put a little pressure by questioning the promotors of a similar "system" called Tron-Cash.
??????? Monolith
So, how you reinvest our money to pay the daily %?
"When you reinvest, you're adding your dividends to your total investment amount. The daily % is guarranteed by the smart contract as long as the contract has funds."
??????? Monolith
My question is how you get those funds? Must be from some investment.
"That's right. For now, the funds come from everyone's contributions. In July & August, we're launching some dice & e-sports game to generate profits."
?? BUSTED ??
What they are really saying is they pay you from some other people's invest, until they get some kind of bidding game working, so you loose your money gambling (like a casino) to keep the system running.
Veredict ? SCAM ?
But there's good news: the system could be running for years before it pops like the bubble it is. So if you're looking for easy money and have quite some friends in the same spot, treat it as any HYIP [1]: invest all you can afford to loose as quickly as possible, invite your friends to prey on their money build your referral network, get your money back and run.
After all, HYIP hunting can be very exciting too. If you're into to it, then also try this one: https://faucetbch.com/ (name's kind of misleading.)
Don't forget to Like and Subscribe. And if you enjoyed it, leave a tip so our authors can eat and keep writing (kind of hard to write when you're hungry).
Monolith, signing off.
[1] High Yield Investment Program (Wikipedia)
