Drip gives insane rewards!! Which is great for a token that does… nothing. The only thing keeping DRIP alive is the tax system and the idiots who “invest” their life savings. The more new people who enter the system, the longer the scheme flourishes. Older investors keep on compounding their earnings and the new “members” pay new money into the system.
It is a highly lucrative Ponzi scheme.
A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
This definition sounds exactly like DRIP. The early investors reap the benefits and the newbies pay their interest. Also you’ll get punished if you’re a “solo player.” Meaning that you can’t earn as much if you don’t recruit. It’s possible to cruise along, yet, it’s quicker if you bring in more suckers. Basically, DRIP pushes you into a corner and forces you to recruit people.
And yes, I know that cryptocurrency and fiat are similar to a Ponzi scheme. Yet, DRIP is founded from nothing and does nothing. There are no DRIP products or services. Well, except the affiliate marketing, which is only available through the DRIP network. And can only be used in the DRIP network to buy more DRIP related products. Wow, great!
A light paper for children.
This stuff really is made for morons. The DRIP bros are always banging on about how I didn’t do my “research.” If by research they mean read the white paper designed for kids, then, I’m shocked.
Look at that happy little DRIP there, he’s so cute, I want to throw all my money at him.
DRIP network is a scam network set up in March 2021 when the company website; ‘drip.community‘ was registered by unknown figures called Forex_Shark an BB.
It is a coin that has no real-life services or usages, only affiliate memberships to bring more money onto the site.
DRIP DRIP DRIP
This token is a cryptocurrency that will pay a daily interest rate of 1%. Which you can also “hydrate,” or compound to us non-drippers. Meaning you compound your interest to grow your investment. Bear in mind that your wallet has a limit of 100,000 DRIP tokens. So you need to have multiple wallets to really capitalise on the scheme.
On top of this, there is the referral scheme. Wherein you earn rewards off the new person’s investments. So your investment compounds, and you earn money off your “friends” investments. It’s a win-win for you if you’re an early adopter.
The shit token is marketed as deflationtionary. Which can also be compounded to increase you daily ROI. Or as Einstein famously said;
It’s as if DRIP was designed as a joke. I can’t believe people take this scheme seriously.
Affiliate marketing for morons
DRIP offers its cronies incentives to lure more people to the platform. With bonuses being paid on various levels, depending how many people are recruited.
This is a Unilevel compensation structure spanning 15 levels. Meaning if a level one affiliate recruited a member they get placed on level two. When this affiliate recruits Someone new, they get placed on level three, etc. That is exactly how a Ponzi scheme works;
Of course, there’s a slight catch. You have to hold a minimum amount of tokens to be eligible for rewards on each level. Plus the DRIP team states that 10% of referral commissions are paid.
Taxes and penalties
The allure of free money is too good. And it wouldn’t make for a sustainable business plan. Therefore the network taxes the shit out of you.
If you were to withdraw 1%-10% of your invested funds you’d get taxed accordingly. A withdrawal of 1% will get you charged 5%. When a withdrawal of 10% of invested fund pool will incur a 50% fee. That’s a lot of money lost through taxes.
The profits from taxes get funnelled into Forex_Shark’s bank account. Sorry, back into the DRIP network. It is what makes it sustainable…
You can buy DRIP with BNB coins on the website. You can earn additional rewards on the network by buying BR34P tokens on Binance Smart Chain. This is when the investing begins, with returns capped at 365%. That is if you don’t make any new investments. I suppose this is what makes the project “sustainable.”
“The DRIP network is a complete, fully functional and sustainable project.”- Drip light paper
The DRIP token is held on the Binance Smart blockchain (BSC). It captures value through scarcity. They have built a sustainable system built on trust. Which is funny when they say this;
“If there’s a situation where the tax pool is not enough to pay drip rewards, new DRIP will be minted to ensure rewards are paid.”- Drip light paper
So if there aren’t enough suckers paying more money into the system- they will pull some more tokens out of their ass to fabricate more Cashflow. Which is a funny thing for a “sustainable” project to do.
The farm scam
It’s clear the DRIP scheme was heading towards failure when the animal farm got announced. It shows me that there’s not enough money flowing into DRIP. And it is the same yield farming bullshit. Instead of rehydrating, you grow flowers. Rather than DRIP tokens, it’s REV tokens.
Another scheme to bring thousands of dollars to the creators, whilst they pretend to be “bringing down the man.” And create a new decentralised money system.
This stuff really is for morons.
Shit tokens for all
Like all shit coins and meme coins early adopters get rich. Then the suckers who come in after lose their life savings. Or they HODL to their SHIBA INU tokens hoping they go to $0.01. And a lot of people will lose their money when the DRIP network collapses and brings the farm down with it. Then everyone will be holding 1000s of worthless tokens.
That is of course unless Forex_Shark creates the 1984 token, or some other ridiculous scheme. Or as Shawn Somerville said;
DRIP is a pointless coin, with no uses. Unless you count making Forex_Shark and his buddies rich. Otherwise, it’s a bunch of idiots throwing money into an online black hole, hoping they become rich easily.
I don’t understand why all the DRIP bros love it so much? “But we’re all going to be rich.” Yeah, wait until you try to withdraw your money. Then what…?
I’m ready for all the DRIP bros to jump in the comment section like:
“You didn’t do your research.”
This was originally posted on my Medium profile