Today we celebrated International Labour Day. But for many investors this was not a day for celebrating. It could be called International L-R day as LibertyReserve paralyzed the whole industry, being the most popular payment processor now. LR is still under DDoS-attack for 36 hours already. And every hour is another nail in the coffin of many programs that completely depend on new deposits from LR. It is especially of concern to short-term HYIPs that accept LR as their only payment processor. They are in the most danger and can go down very soon if LR is offline for much longer.

So I was thinking maybe it’s not right that LibertyReserve almost monopolises the industry and we are all so dependant on this. I mean there are so many programs out there and their survival totally depends on one payment processor. And I really believe that LibertyReserve support sucks. There was so much downtime this year and they absolutely ignored all members’ needs in having a reliable and stable payment processor.

All they could say after 12 hours of downtime was just to publish this lousy note on their blog: “Our site is currently subjected to a massive ddos attack. We are taking measures to rectify the situation and will be back as soon as we are ready. We apologize for any inconvenience during this unplanned outage.” They even dropped members’ comments that were very honest though sometimes very harsh. At least they were real members’ feelings that were completely disappointed with such long downtimes that could cost them much money. So do you really think it’s good to rely on only one payment processor?

I agree that e-gold is not good either with their practice of blocking accounts without any reason but at least it doesn’t have such long downtimes caused by DDoS-attacks as their protection is certainly much better than that of LR.

So what we can really do in this situation? Nothing. Just wait and hope for the best. But maybe you should think hard about keeping too much of your money in LibertyReserve. I encourage you to keep only as much money there as you need for investing and withdraw your profits from LR immediately. I advise you it because it’s clear now that LibertyReserve is certainly not to be considered as a stable and reliable payment processor. Let’s just hope it will be back up soon!

As you can imagine I don’t have much news to tell you as everybody’s waiting for this unfortunate L-R day to be over. Let’s hope it will happen tomorrow when I see you on my blog again!

Hi, guys! Sorry for not updating you yesterday but LR was still down and I was not feeling well last night. Today I feel refreshed and ready for work again. LR is also looking good. There’s an update that has been published on LibertyReserve blog: “Update on the current DDOS issue. We have been testing a new solution that will prevent these outages from happening again. We appreciate your patience and support.” And though LR site is still down SCI interface was working fine for several hours today which allowed many programs to pay their members. I have already got my payouts from SafeAtom and Dreab today. Also I got another payout from 12Daily.Pro but it was processed to e-gold (by the way, read an interview with admin soon on my blog).

Many programs though prefer to take their time with the payouts and wait till LibertyReserve is stable again being aware that there may be many mistakes in payouts including multiple payments. That’s why the admin of iNetCapital, for example, sent this update to the members today:
“At this time deposits via LibertyReserve are possible as it seems that their SCI function is working properly. Several members have been able to make deposits despite the main site’s downtime. We will continue to hold off on processing pending cashouts until the LibertyReserve site is up & fully functional. This is to ensure that no glitches in their system at this time result in any discrepancies or errors by paying out while they are still working to resolve all issues. We appreciate the patience of our members & will update all of you on cashouts as soon as things are back on track with LibertyReserve. Thank you & have a pleasant weekend.”

Tradelite also kinda paralyzed by this 3 day LibertyReserve outage as it’s the only payment processor it accepts. But unlike many short-term HYIPs like LRStream, which is highly unlikely to get back on track after these LR issues, Tradelite is backed up with some outside income. That’s why it seems Tradelite will be ok even after such a long period of downtime. Here is the last update I received from them last night:
“You receive this update, because our records show that you currently have one or more pending withdrawals. As you may have already noticed, Liberty Reserve is unavailable and we are therefore unable to process any withdrawals. As soon as the Liberty Reserve system is working, all withdrawals will be processed. In the meantime, we received several emails from our members requesting a feature allowing them to cancel a pending withdrawal. I would like to let you know, that this feature has just been added to our investment platform in the Make a Withdrawal section of your Tradelite account. If you decide to cancel a pending withdrawal, funds will be instantly credited back to your Available Balance.”

By the way, I received three payments from Dreab today which means the admin is really serious about making his new program popular. Unfortunately, the Dreab website is inaccessible now because of some hosting issues but I already got an email from the admin Mark in which he assured me that his site would be back online soon:
“I have some problems with my hosting. I’ve contacted hosting support already and I am waiting for response now. If they do not fix it to 18.00 GMT I will start searching new hosting provider. I’m sorry for the inconvenience.”
I will publish a review of Dreab as soon as the site is back online. Stay tuned!

Since LibertyReserve website has been down for more than 3 days already and it’s not clear when it’s back online it’s time to give your attention to other payment processors. You should really diversify your funds and never keep your money in one payment processor so as not to be hostage to one single downtime. I’m talking about AlterGold – new payment processor that gained more popularity recently as it’s surely more stable than LR now.

Today AlterGold presented its own blog where you can read many updates. And they are really impressive as we can clearly see that AlterGold is really working hard to become a big payment processor. Judge for yourself:

1) AlterGold is now officially endorsed by all three biggest money-making forums: MMG, TG and DTM. You can notice also many banners being run on these forums. It’s really good news and a big honour for any payment processor in my opinion.

2) From now on together with e-gold, LibertyReserve and SolidTrustPay you can deposit and withdraw funds from your AlterGold account using e-Bullion, AlertPay and even Bank Wire transfers. Many options for depositing and withdrawing will certainly attract more new users.

3) AlterGold is endorsed with Ecashworldcard.com. EcashWorldCard provides its clients with payroll solutions, pre-paid gift cards and shopping online solutions. By the way, remember that you can order your own AlterGold Pre-Paid Debit ATM Card for $59.95 with free regular shipment by FedEx. This card can be used to withdraw funds around the world with over 900,000 ATM machines world wide, for online purchases or for funding your Account balance.

If you’re interested in knowing more about AlterGold payment processor please read my interview with AlterGold project manager here. I’ve already opened my AlterGold account and am going to use it more often now as more and more programs use AG as one of their payment processors. See you tomorrow on my blog and thanks for reading!