12/03/08. JRProfit: Slight Chance for Survival

Today I would like to analyse the current situation in JRProfit – the program I’m in but that is not recommended now for depositing because it has unclear prospects for the future. The admins can call me a “hit-n-runner” or something like this but actually my two deposits have not expired yet and moreover I even made another testing deposit of $10 yesterday with one aim in mind – to see how much daily ROI for LibertyReserve deposits will rise. Well, it rose from 0% to 0.14% and I would like you to keep this figure in mind because it will be of some use for us during my further analysis. I emphasize that JRProfit is a PAYING program and to know how it works you’re welcome to read my interview with Jodi and Raz here. The whole analysis is only based on my previous experience with profit-sharing programs and is valid for today’s date.

First to be fair I’m glad to report that JRProfit‘s admins Jodi and Raz finally got bored from sitting on their asses doing nothing and waiting for a miracle and implemented some measures in order to save their site or what has left of it. After a ridiculous 0.14% for two days (one day ROI dropped as low as 0%) for yesterday the daily ROI for LR deposits was finally a little bit higher and reached 1.05%. (As for the moment of writing this LR deposits reached only 0.28% whereas for STP – the level of support was slightly better than LR but is now again dropped to 0.42% 10 hours before server time changes). Not bad after the deep hole it seemed JRProfit was in! But if you remember the figure I mentioned in the beginning of my post you can see how much money was actually deposited on the last couple of days (for LR deposits it was $10 – $10 – 0$ – $74 – $20). Measly 114$ for 5 days for LR deposits – I don’t consider that a great achievement. And I also noticed that the greatest cheerleaders on the forums don’t actually do what they encourage others to do – deposit. They sing their praises to JRProfit and its admins but do nothing to raise the daily ROI.

Well, it did not take too much time of the admins to actually take some action in order to save the program instead of abusing me and my blog on MMG forum and therefore distracting members’ attention from the problems their site was having. I know that the truth hurts but at least you should stay polite and calm and don’t sling mud at your fellow investors if your point of view is different from others.

Let’s get back to the measures that were recently implemented. These measures are:

1) They announced a so-called “Happy Hour” – all members who make deposits in this hour will receive a 5% bonus in their accounts (other earnings). Happy Hour will be changed everyday so you will have to check the site a few times a day to catch it.

From all the measures they introduced to the members I like only this one which somehow can attract the members that are not too strong in mathematics and can’t understand the principle how this “Happy Hour” really works (the additional 5% will go to “Other earnings” and you will not be able to withdraw it until you have $10 on your balance).

2) From now on you can deposit any amount between $10 and $200 and not only in increments of $10 ($11, $15, $17). The unit cost was lowered to $1 but if you try to deposit less than $10 you will be automatically forced to make a $10 deposit.

As for the possibility of depositing any amount of money between $10 and $200 I don’t consider it as a major change because really the minimum amount to invest stays the same ($10) and it will not be able to attract small investors that would like to try the program with test spend first.

3) Increasing the amount of active upgrades to 8 (and so the maximum amount invested can be up to $1,600).

It’s the most ridiculous and even stupid feature in my opinion. I guess its suicide to upgrade now with $1,600 when the ROI is about 1% daily. And I would like see the members who are shouting at me that I’m not too supportive towards JRProfit take a chance and deposit again. So far I can’t see such enthusiasm from them judging by the amount of deposits currently made via both STP and LR.

So what is my overall opinion about all the measures? Well, I think it will just prolong JRProfit‘s agony and eventually it will have to close because really with deposits $10-$60 daily not only is it hard to achieve their aim of $5,000 maximum but also it will hardly cover their hosting and advertising expenses. So be careful with them! Of course things can turn back in a matter of weeks but for now on you shouldn’t expect too much from this program.

I don’t know what JRProfit admins are up to but I guess seeing that their saving features don’t really work they will try to get their program private (is that really a solution to all problems?) as one of their arrogant members suggested: “Ok this is what I think. Anyone that is in profit, that does not regularly redeposit must go. Let’s get rid of these creeps. There were 3 or 4 people that came on our forum and posted negative things…about our program… If those are the same people that have not redeposited….then… why are they still here? Get rid of them… and let’s go private.” One of the admins Jodi answered to that: “So you’re right Mary going private with trusted members is definitely something to consider“. I just don’t understand whom Jodi considered “Trusted members” who will be in her newly born program and why these “trusted members” are not redepositing now. It was better to admit that JRProfit is in danger and think about other measures to save the program instead of posting something like this: “We are strong. We did survive the DDOS attack. We found new hosting and were back online within 3 days. Payouts are being made well with in terms. Members who like the security of knowing who their admin are and can see the potential in the program are supporting and making deposits“. In my opinion, these words are a total rejection of reality. Merely looking at the world through rose tinted glasses!

I still hope JRProfit somehow will get out of this deep hole they have dug themselves into right now. And I will still be watching this program and inform you about its development because it will be a good lesson for us all about all profit-sharing programs. Also if you consider the topic of profit-sharing programs interesting for yourself you can refer to my other post “Can Profit-Sharing Be a Sustainable Model?” that can be read here.

After all there are so many good regular HYIP programs out there that can be worth your while. One of such programs I just joined is Invest4Games – in my opinion, a great HYIP with sustainable plans of 111% after 3 days and 120% after 4 days (with test plan for $3 – 110% after 2 days). Be ready to read the full review of Invest4Games on my blog tomorrow. And of course there will be more news and updates for you. See you tomorrow as usual!