It is argued that 90+% of the investment programs flowing in the internet are HYIP scams and such scams continue to rip people off their hard earned money. This type of weird programs are widespread due to
- Human nature: greed for fast and easy money.
- Commission Junkies: Some people promoting HYIP and PONZI schemes to thousands of followers due to huge commission gains.
- Lack of personal research: no due diligence is done on the part of investor.
Moreover, huge success from crypto currencies and some legit online programs is also a factor. Hence why many programs promise 2 to 15% daily ROI with smart Bitcoin trading bots with promise of 0.3% hourly ROI ( example is Bitcoin Brain) and other programs like MMM United, BET Robert, Me-con , Bit connect- note that all failed HYIP scheme always come back with different names and claim legitimacy either via UK registration number (even my cat can register a company in UK) or in an Asian country. Most worryingly, however, is that there is no official person to contact or hold responsible if investors lose their money. However thanks to a great steemian like 
Scam , HYIP & Greed: How Steemit Can Save you from being ruined
As I indicated in my former posts, steemit is the best social media platform due to its great people , ability to learn new things and financial rewards. In addition to these principles, steemit is also a platform that takes the fight to scammers and spammers who want to take advantage of the great platform for their personal financial gains-here are few recent examples (see my older posts about spam and scam for more):
researched on steemit top earners of the month-where he found out about smart voting scams see link here
with the help of
post found out about how
stole someone else pictures online and posted it as his own on steemit-see link here and lets welcome the real owner of the pictures who just signed up on steemit see
.
all these examples including being able to report plagiarists , spam and scammers to the newly born 
Moreover, if you want a legit success online then focus on the fun side of steemit (not money because money will come) , grow your followers through engaging in the platform via smart commenting and joining steemit groups , challenges , buy more steem power and follow smart steemians (we have a lot of them) who will always guide you via their prudent posts.
Conclusion: This post has outlined how many people have lost money: due to blind trust, greed and lack of due diligence .However steemit is great because of its member’s ability to prudently and openly post about the issue and take the fight to con artists who want to take advantage of the system- and through innovation, created tools to help in the fight.
What do you guys think?
• Scams are big issue here and I will certainly help in the fight
• Not all scams are essentially bad, i.e. I do not have a problem with any anyone
• Spams and scams are here to stay!!! Indicate why you think so
• 
Send in your comment, Please resteem this for others to join and up vote to send your support.
Do you know that excessive supply can kill Steem, EOS, Bitshares and other coins? See my former post here