When I was introduced to Just Been Paid (JBP) now ProfitClicking.com as an indefinitely sustainable, online money making program. I was very skeptical. I did not believe any online money making program built around HYIP, or Ponzi scheme is indefinitely sustainable. However, the face and profile of Fredrick Mann, coupled with a few losses in other HYIPs convinced me to throw some $$ at overly hyped JustBeenPaid.
Now with the acquisition of JustBeenPaid by ProfitClicking, the exit of the smiling face of Frederick Mann and the seemingly indefinite sustainable transition period, even the die-hard believer of the program are bound to be worried.
Frederick Mann, and his crew in JustBeenPaid without any prior notice, let alone agreement, sold overnight, investors trust and money to ProfitClicking. With it, and subsequent endless transition and missed deadlines, the fear of scam in the very volatile world of HYIP was inevitable. Perhaps, many wouldn’t mind if the transition had gone smoothly and quickly and business resumed as usual, but the freezing of assets, the none-assurance of payment of accrual prior to acquisition of JBB, through the transition phase to date, and of course the inability to withdraw funds, have made many investors apprehensive as per the dependability of ProfitClicking.
Profitclicking have released several announcements and newsflash, and have tried to assuage many investors (old and new) of the progress and plans they have made. But in the world of HYIP and online money, cash (e-currency) is king. Until Profitclicking turn on the cash tap, and allow investors (especially of the JPB program) access to their money, no amount of update and news flash will sway people from voicing their displeasure and fears. For now, Profitclicking has not scam, and there is still hope in the horizon that they will get it right. Putting a name and ultimately a face behind ProfitClicking is equally critical to restoring confidence in the new program. There is so much at stake, for many people, and time is money!
Related Topics:
ProfitClicking: Scam or Not? - Another review
JustBeenPaid is now ProfitClicking: A Primilinary Review
Liberty Reserve Down Time Problem: A Review and Impact Analysis
How to secure your HYIP earnings
Why do HYIPs Scam?
HYIP Monitors Review?
Can you recover lost HYIP fund?
Learn winning strategies of HYIP
InvestForia LTD Scam: A post Mortem
Tuesday, September 18, 2012
Monday, August 27, 2012
Liberty Reserve Down Time Problem: A Review and Impact Analysis
Recently, Liberty Reserve, the largest and most popular payment processor in the HYIP world went offline. According to them, it was done to enable them carry out maintenance and also add new features. It is also clear that many users accounts were affected when they were blocked in error by Liberty Reserve’s automated scripted. While we enthusiastically welcome back Liberty Reserve, it is worthwhile to note that the sad part of the downtime (or maintenance) is that that it took rather too long to resolve.
The euphemism ‘forced extended maintenance’ did little or nothing to calm the HYIP industry fears, of potential scams. This is in view of the fact that maintenance scheduled to last between 2-4 days have extended beyond 7 days. Ironically, the fear is however not of a Liberty Reserve scam, but rather hundreds of HYIPs which heavily relies on them. The last time, another popular payment processor – Solid Trust Pay, carried out similar maintenance, some HYIPs like Investoria.com and Silverstructure went down under the fog in a scam.
All HYIPS (and indeed many business) depend on cash flow – either when paying old investors, or receiving new investments. When a major payment processor in the mold of Liberty Reserve goes down, the ripple effect in the HYIP world can be very devastating. Newer HYIPS are mostly affected, as they are mostly set-up with Liberty Reserves as their primary payment processors. Fairly old HYIPs will be inundated with bad votes, until HYIP Monitors downgrade them to ‘PROBLEMS’ or ‘NOT PAYING’ which usually ring the death knell for most HYIPs. Only the well established ones usually survive, with little or no issue.
In the end, investors and users of the processors are the biggest losers in some of these needless ‘extended maintenance’ of systems which are not 'obviously' broken. It is also important to suggest that when new features are to added to a sensitive business like Liberty Reserve, best practice and industrial standards requires that it be done with little or no disruption to the existing system, using a combination of cut-over and rollback techniques.
Though Liberty Reserve promised to add Credit Card Funding option to verified users, while this is a good development, the time spent in this downtime, has done a lot of harm to various users of their system. It’s high time Liberty Reserve users (HYIPs and other investors), who have not done so, diversified their payment processors. HYIPs program should also include features that enable them to easily migrate their subscribers to other payment processor.
Thursday, August 23, 2012
Securing Your HYIPs Earning
Preventing losses and securing your earnings in High Yield Investment Programs (HYIPs) are the major concern of all HYIP investors. This is particularly important in view of the volatile nature of the HYIPs world. A few steps, taken consciously, will help you to prevent losses, or at least reduce the monetary value of such losses. Below are suggested measures to secure your HYIP earnings, and reduce losses.
Withdraw regularly
The reason most invest in HYIP is to earn additional income. As such, withdrawing is the only way one can fulfill such motive.
Avoid leaving substantial money in the program.
Let’s face it, most payment processor charge a fix percentage of the value/amounts deposited. For instance, Liberty Reserve charges 1% face value of every deposit received, subject to a min $0.01 and max $2.99. This simple means you pay $0.01 for every $1 you transfer to your account and 0.1 for $10. Paying the charges sounds more prudent than to risk losing it when you accumulate large funds in the program, ostensibly for compounding.
Avoid compounding.
Compounding a way to increase your deposit, and of course your earnings. It is also a way for malicious HYIP administrator to ensure you earn little or nothing from your investment before they scam. If you must compound, find a fine balance!
Reinvest only HYIP Profits.
The tendency is for one to get carried away especially when a HYIP appear to be paying regularly. Some evidence of this over-confidence is when an investor adds more money to a HYIP that is yet to earn profit, only to lose it all. It’s best to budget certain amount for a particular HYIP, and stick to it. Besides, NEVER trust any HYIP!
Spread your risk by diversifying your HYIP portfolio.
More and more HYIPs are started every now and then. It is a good idea not to invest all ones money in the same HYIP. Diversifying your investment among various long and short terms HYIP is a good way of reducing your exposure to a single program..
Your ability to protect your HYIP funds is critical to your success as a HYIP investor. Protection your HYIP investment is a factor in determining if you will stay long enough to make profit or exit too quick in frustration. Good luck.
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Should I compound my HYIP earnings?
high Interest HYIPs: Risks and Returns
HYIPs, Pareto's 80/20 Rule, and Portfolio Diversivication
HYIPs and Greed
The Best HYIP
Why do HYIPs Scam?
Learn winning strategies of HYIP
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