Updates: Changes to My Programs List - March 18th
Posted by rabbit on March 18th, 2006
MPDW has been downgraded to “Programs On Hold”. On March 14th they suddenly and arbitrarily decided to lock people’s principal for 6 months. While this is not unusual per se (Udachu also locks principal for 6 months), the way they go about making the change was very unprofessional. Unlike Udachu, people who joined the program did not do so under these terms. I for one would have probably taken a different path with the program if they had this 6 month lock period prior to my joining the program. With this sudden move to lock our principal, they are giving fodder to those that have been saying for months that they are a ponzi. I still do not share the view that they are a ponzi (at least not a 100% ponzi). I do not think it makes any sense for them to have traders (at least one confirmed) on board if they plan to run a ponzi scheme. This being said, I think they botched their handling of the earlier controversies. They could have easily stemmed the flow of withdrawals that followed by simply getting audited by a third party or showing all their members proof of trading. But instead chose to keep everything a secret.
If they are still around in 6 months time as a viable program guess what is going to happen? People are going to be withdrawing their principal in droves. Even those who weren’t planning to withdraw the principal any time soon (including myself) will be lining up to do it.
My Advice
If you are already in the program, stop compounding and start withdrawing your returns on a monthly basis. When the 6 months lock period is up you can make a final decision as to whether you want to stay in the program or leave. If you are not already in the program, stay away from it for a least 7 months and see how things pan out.
I see on some forums that some people are advocating reporting MPDW to the authorities. I do not support this stance (see my throwing out the baby with the bath water comment in my previous post). Interestingly enough, the folks are advocating this are either no longer in MPDW or are already in profit. Hence, they have very little or nothing to lose. I do not think the change in the Terms of Service is definitive proof that the program is a scam or the admin is going to run away. In any event, the admin would not get very far by running away because there are a lot of people with his phone number and address, and quite a few folks have met in him person as well. So he can be pursued if he decides to take off.
This is another program I have put to Programs on Hold. I really regret joining this crappy program. This will be last time that I am going to make friends convince me to join any program. I have been waiting since March 9th for a payout. If / when I get it I am just going to say “thank you very much” and delete my account. It is not worth it folks. Stay away. Phoenix Surf (my current favourite), Wired Surf are superior options. Even the reincarnated Alien Trust is better.
Alien Trust has been taken off the Programs On Hold list and back on the Paid to Surf list. They seem to have recovered from the Stormpay funds freezing fiasco a few weeks ago and is now a manual surf program. They have tweaked their site setup and added the manual surf option to comply with some of the objections that the SEC have with autosurf programs.
GoldenRocks
I am putting this back on my Programs on Hold list and will again be posting details about the program here now that they almighty Polas brothers have taken away the pom poms from the Goldenrock cheerleaders. For those that do not already know, the program is essentially dead and the admins are now issuing refunds. You can read more about it here.
TingerInvest and Acsfin
These programs scammed away (not that I am surprised). It seems they were run by the same people admin(s). These will probably be the last gamble HYIPs that I will ever list on my blog. I was in deficit by about $84 in Tingerinvest and $4 in Ascfin. They have been taken off the Hold list and added to my Dead and Abandoned Programs list.
12DailyPro
As I mentioned in a previous post, 12DailyPro was taken over by the U.S Securities and Exchange Commission and is essentially finished. Even the web site is no longer up. I believe the program would still be around had it not run into problems with Stormpay and the authorities. 12DailyPro is my most profitable program today (about $9K). I have taken it off the the Hold list and added to my Dead and Abandoned Programs list as well.
I am finally able to take this junk of a program off my Problem list and dump it on my Dead Programs list. I have not been paid from this program since November of last year. The only reason why I kept them on the problem list for so long was because they were paying some people and were still in business. Now it seems the management has decided to pull the plug. Good riddance I say.
March 19th, 2006 at 1:31 pm [ Quote ]
Well Well Well….
Looks like anything that can go down does just that….
My internet connection was out for a while so im a bit outdated :/
Today I discovered what happened to GR, had to track down their spend in my e-gold acc. to discover that the link they gave me doesn’t work…
As I could understand there is an alternate GR forum somewhere, but I won’t bother joining it anyways….
You know, I have entered the HYIP/Surf zone not so long ago - less than a year actually. I had 200$ in 12DP, half of which are still there, and the other half I managed to get out and put in GR. They were paying for a year, when I joined but now, I just hope I could get my principal back…
I have no more money online, and NO MEANS or will to put more. If those who in charge of 12dp or the Polas won’t give me anything back it will only mean that I’ve lost it all, and spent 8 months in this area for NOTHING. I will have to start from scratch, and will only be able to do so if someone agrees to donate me something or give me a loan.
It’s a sad, sad situation and makes me feel like a sucker. Should have sticked to the low return HYIPs, even though now I realize that there are almost no honest HYIPs, even those who offer low returns are usually scammers… Of course there are a few programs that I might exclude out of the “dirty” list, but those I can count by my fingers.
Why don’t you add Private-Opps and OffShore Club to your list?
March 19th, 2006 at 9:09 pm [ Quote ]
Hi Rabbit,
This is nothing to do with your post,
I don’t know how else to reach you.
My ? is, what do you know about
euroegold?
Thanks
Penny
I don’t have a blog, am new to all of
this. hopefully you will receive this.
March 19th, 2006 at 9:10 pm [ Quote ]
Hi Rabbit,
What do you know about euroegold?
I just signed up for a blog, don’t really know what to do.
Peny
March 19th, 2006 at 11:03 pm [ Quote ]
Hey Razorx,
Sorry to hear about your ordeal man. We all lose a bit when we first started in this arena. It is a mine field out there. I am hoping that the money you have lost to date was not funds that you could not afford to lose. It seems by your posting that this is the case. I hope that I am wrong though.
Private Opps and Offshore Club are not on my list because I think they are dressup ponzis that will fold like Goldenrocks sooner or later.
March 19th, 2006 at 11:04 pm [ Quote ]
Penny,
In the future you can reach me using this link: http://rabbit.akwo.net/feedback.html
I think EuroEgold.com is a fancy ponzi. The returns are too high to be sustainable. It would be nothing more than a gamble if you put your money into it.
March 20th, 2006 at 5:22 am [ Quote ]
No, luckly I’m not that stupid to risk funds I can’t afford to lose… Even though some people do that…
And what makes you think that the 2 programs I mentioned are ponzis?
They do offer quite low returns, and both been around for quite a while…
Also, do you have any idea if FeederFund will ever open up for investors again?
March 20th, 2006 at 5:28 am [ Quote ]
Also,
I’m quite upset about losing that money, and I think my post reflects it pretty well, also the fact that CHARIS the *****, who stated “we are in no way a ponzi scheme” turned out to be just that. Yeah like those 5% they got from the advertising on their site could help anyone… As far as I could see, very few people have actually bought ads there, the PTC zone was empty most of the time…
And she also had the guts to show up in the hotel in front of the people she scammed… damn hoe
(sorry about the last comment, you can edit it if you want, but I just couldn’t help it)
March 22nd, 2006 at 7:09 pm [ Quote ]
Just in comment to Black Gold
I have had now issues what so ever for Black Gold.
I have had 6 successfull payments
Try and contact Charlot
April 17th, 2006 at 12:08 pm [ Quote ]
RazorX,
It is my understanding that Feederfund will be opened up to new investors again soon. However, I am unable to say when.
It is hard to say that Charis scammed people in 12DailyPro when people were getting paid up until Stormpay stepped in and started to freeze accounts. If she were a scammer she would be in jail since everyone knows who she is etc. This being said, all surf program have elements of a ponzi scheme…even if they are making some revenues from elsewhere.
April 17th, 2006 at 12:12 pm [ Quote ]
Fawaz lets face it BlackGold Surf is crap just like the web site. They took over one month to pay me. I would be insane to put anymore money into this.