Wednesday, February 4, 2009

***WHO'S BEHIND YOUR HYIP???***

...Did you ever stop to wonder?...who's really running your HYIP?...who's pulling the strings?. I mean the names sound so common and unimposing...do they not? The scammers often use names that we're the most familiar with. My belief is as with everything else, they do this in order to make you feel comfortable and to make you feel like your money is safe. Addresses that lead to empty offices...phone numbers that lead to voice mails or sometimes nothing at all...track records that are impossible to validate...promises that are impossible to keep...returns that in most cases make no sense logically...but yet there are some who will defend the scam to the bitter end...even when they're not being paid anymore. I guess its a last ditch attempt to salvage some type of reasoning as to why this has all happened...that's why it pays to be out BEFORE the house falls. Nothing lasts forever, I don't care how many bells and whistles it has. I was reading on a forum and was saddened to see a member hyping up a virtually unknown HYIP making the comment "I'm going to invest with this one and I hope you all join me because the design is nice"...Investors should have better reasons for joining the HYIP's that they do...but the question remains...will we ever know who's on the other side of the screen?...

5 comments:

  1. No, we won't. I think that's why we have to look at HYIPs as gambling. All the research in the world cannot tell you whether a program is a scam or not, unless it is so poorly designed as to be obvious (i.e., 1000% returns, etc).

    Most of us have our own criteria for joining an HYIP - or better yet, for NOT joining one. At least for me, finding out who's behind it is a fool's errand. I look more at the age of the program, the returns promised, and negative comments with some apparent validity.

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  2. ...I think a more correct statement would be that "No YOU won't" and that YOU may look at HYIP's as gambling but obviously this is not the norm, that's why so many investors are devastated when some HYIP's end. And that's a gross misstatement on your behalf in regards to what "All the research in the world" can do??... If there was no research where would we be?

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  3. I don't really want to get into an argument on your blog, that was not my intention. And I am not saying one shouldn't do research/due diligence on programs.

    Investors need to be educated that this IS gambling, otherwise they will be devastated, as you said. A valid company would be transparent enough to confirm who is behind it. Granted, there are probably a FEW HYIPs that are transparent enough to confirm this info. But the great majority are impossible to confirm, as you yourself said. Therefore, an investment in these "un-confirmable" programs is tantamount to gambling. You are taking a "chance" that the admin is not a thief.

    I think the fact that investors are devastated when a program disappears only speaks to the fact that too many think of these programs as real investments, when they haven't even been able to confirm the address of the company, let alone the admin! Take Stoic, for example. There's a program that I'm making money with (in profit), much as I might make money at a poker table. But as Kenny Rogers said, you have to know when to fold 'em - and I won't be gambling there anymore.

    I admire what you are doing. I didn't understand it at first, but I think the research you are doing, once a program has been running, to tell when a program is going to fail is VERY DIFFERENT from the research I was talking about, done at the very beginning of the program's life, to determine which programs will fail. It was the latter type I was calling useless.

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  4. ...now this makes more sense to me...but let me say that a "gamble" is truly in the eye of the beholder, when a basketball player goes up for a shot...its a gamble as to whether he will make it or not...but he still has to shoot...and if one is in the NBA and the other has never played basketball...its still a gamble either way...but of course I would put my money on the NBA player.

    ...everything in life can be considered a gamble in some form...so that's an extremely vague description. When one buys real estate...its a gamble, because the market may crash...you get the point...

    And as far as transparency...who said I needed it? Whats supposed to provide me transparency?, documents issued by a company? Anybody can doctor documents...so that means nothing.

    Make no mistake, I admire and respect your points of view and I appreciate you coming by. Dialogue is welcome friend.

    Stop by anytime.

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  5. TH,

    Don't get me wrong, I'm glad you're here and I want you to keep voicing your opinion. I think you have a lot to contribute.

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