is the Cash App Money Circle a scam? | Wheel Explained

In this video, I want to break down if this cash app wheel is really a scam or if it’s actually legit.

is the cash app money circle a scam? | Wheel Explained/Blessing Loom learn how it works, is it a scam?

Segway:
Truth: this is not a scam and a lot of business actually do this
But: the version you’re seeing right now is a scam
Now before we even get started, there are still videos on youtube from 3 years ago, talking about a similar scam called the blessing bloom. ( and that was also discovered to be a scam)

SO Scammer are getting very smart: because this is very smart stuff, so much so that I cant even say that word

1. How It Works: ( react to that video)
– You pay $100 for a blue space
– Once the blue spaces are all filled
– The group break-offs, into a new circle and the cycle continues

What’s wrong with this:
– It’s a Ponzi scheme that only keeps working as long as more and more people join
– But eventually, someone will lose money

Now I’m not a scammer:
– But if I was, I would also have a few scammer friends or multiple cash apps accounts
– So I could potentially build a group with the leaders, and proters and they are all me
– This way I put no money in, and I get paid all the money

2. How much money will they make
– 800 and they are 7 of them ( that’s a total of $5600 per fully completed circuit

Why does this matter, if I’ll still get paid:
– Well once the scammer gets all the money
– You and the normal people will be left to market for yourself
– And since your not a scammer, you’ll probably fail

Big Leagues:
– So if while we are all in quarantine, a scammer makes a $1000 of these circles
– They could easily make over 50k
– Without putting any money down

3. How could you Make this legal
– Well if the circle started blank ( and Ryan was the only one their)
– And everyone paid $100 per space every month, including Ryan then this could work
– And business actually do this today

For example:
– This is how some companies give low-income families no interest loan
– You have a group of responsible people that know each other in person
– And this way someone gets the bulk of the money first but they pay it back, slowly and interest-free

Tip: The illegal one is like running water and the legal one is not running.
– A bucket with a hole in the bottom but the water keeps it full
– But if you fix the bucket you don’t need more people

Overall:
– If you wanna give your money away, just go donate
– If you want to start a legal one with a friend then go do it
– But don’t fall for the scam

* PRO TIP*
INFORMATION IS EVERYTHING

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