Hi everyone! In today’s issue of MNOFridays I will try to take a look at some of the popular myths, stories, and general misconceptions about the HYIP industry and mistakes which are made by even the most experienced investors on occasion. I hope that analyzing those myths and mistakes will help us all to make more money in this ever changing industry and understand how it all really works.

So let’s take a look at what that means and run through some of of the most common ones. I’ve numbered them first and then added my own thoughts. If you have anything to add then feel free to leave a comment.

1) “I know that 99% of the HYIPs are ponzies but I know that 1% are real businesses and I think I’ve found it.”

This is probably one of the most common mistakes made by investors. Of course it’s very easy, even preferable sometimes, to believe those tall tales spread by HYIP admins about their alleged business activities, especially if the program pays you for a lot of cycles. Even if at first you’re a bit skeptical, then you say to yourself that maybe there is something more going on, until finally you are ready to believe anything the admin has to say to you. The last stage means the admin has achieved his goal and can manipulate you any way he wants. It means you’ve swallowed his cover story hook, line, and sinker and now can be relieved of your money in some very shrewd ways. Your trust will now be an asset which the admin can exploit in his favor. So whatever you do, do not trust admins who try to convince you they are running a legitimate business. These people have their own agendas to make money from you which is the exact opposite of your goal – to make money from them. The mythical 1% of HYIPs are created in our minds to make you believe and trust to what the admins have to say. Overcome it and become wiser and don’t let yourselves be manipulated! ALL HYIPS ARE PONZIES – remember that and always be careful about whom you can trust.

2) “I know some admin from his last program. I’m sure that I can make money on his new one because he was honest and paid well in the past.”

Well, this is an extremely dangerous misconception and I’ll explain why. Sometimes HYIP admins deliberately build up a good reputation on one program and then refund everybody who was not in profit when the inevitable closure happens. Great! What’s not to like or respect about that you probably think. But this is where the scam really comes into play. The members of the previous program see that the admin opens a new one under the same name and rush to pour money into it, thinking that their principal is protected and that the admin is an honest and decent guy. The admin then closes his program as soon as he gets enough deposits which will be a pretty hefty reward for him even if he lost a couple of dollars from his own pocket in the previous venture when he paid refunds. This is where we again see the matter of trust which is being manipulated in a very sophisticated way. So draw your own conclusions if you are going to put money in such programs from “honest and trusted” admins and remember that everything is not what it first appears in the HYIP industry.

3) “I know that the admin is honest because he never ran any programs in the past.”

You can never be sure of that. In 90% of the cases every program is run by an experienced admin who previously ran one or more programs but will almost always tell you “this is my first”. But as they are invariably using made up names they cannot run new ones under the previous alias. It’s so obvious but it’s still not recognized by many investors. There are still some dishonest people who try to put a stamp on every single program and say that it’s run by a particular admin. Well, this is simply hilarious because if you had read my latest live chat you would see that in the opinion of one experienced admin with a lot of insider knowledge that the 99% of the industry is run by not much more than 30 admins who run all types of programs. To label some admins as natural born scammers is ridiculous because if we do this then we can just leave the industry because all the methods used by HYIP admins are very similar and are all based on ponzi schemes. So one particular admin is not always better or worse than another – he just has a different strategy.

4) “If I invest my money via AlertPay my deposits will be safe because if a program scams at least I will be refunded my original deposit.”

This is another popular myth widely believed by investors. Please note that investing via AlertPay is a good solution which cannot be disputed, and sometimes even for the wrong reasons. Because HYIP admins are required to verify their accounts and usually do so with fake documents to made up names. Therefore they cannot withdraw the money that fast via bank withdrawals or checks. Remember that when exchanging from AP to other payment processors there is a limited allowance and can be time consuming. Therefore, as a rule HYIP admins don’t worry too much about their AlertPay accounts and continue paying through them for longer than LR and PM. This doesn’t mean though that your funds are totally protected. Taking into consideration the nature of HYIPs you will be paid while the admin has reserves in AP as they don’t want anybody filing complaints prematurely while they continue the slow process of withdrawing what they can get away with. But when the account dries up the payments will stop and filing a dispute will not help you because the account is now empty. AlertPay will only facilitate refunds based on their ability to recover the stolen funds. If they are made aware of the situation fast enough and freeze the admins account, they can redistribute what they find there amongst members who were at a loss. It does not mean you get everything back. In fact it doesn’t even mean you get anything back if the admin managed to clear out most of the money before the scam became known. Filing a dispute is no guarantee but if you do get something from them you may have to wait for weeks if not months to see it. So please get rid of such misconception of the overall security of AlertPay deposits – they are better than LR and PM but not to the extent that many investors think.

5) “I’m sure that the admin can run only one program at a time so I will diversify my investments.”

Of course diversification into different programs is a smart move. However you must understand that there is always the possibility that you will be investing in programs run by the same person and they will all collapse. Take the very recent example of one admin running four programs at once which all collapsed on the same day. Imagine you invested in all of them! So be aware that one admin can run many different programs and try to watch out for the similarities. Do not be fooled, guys!

6) “If I find out an admin ran a particular program I will definitely invest in his other programs because I made a lot of money from the first one which ran for a very long time.”

This is also a pretty dangerous strategy that can cost you a lot of money. Take the example of InvestiMates, a program that ran for over 70 days back in 2009. The admin took advantage of the enormous support that was showed to him by his members after running his first program so “honestly”. He started another one with similar plans and concept called InvesTomato straight after the first one finished, all done under the same name. It’s no wonder that many investors believed his intentions were good and invested a lot of money which of course they never saw again. Blinded by their own unconditional faith in the admin’s capabilities of running every program for such a long time, they didn’t stop to think that there’s always room for something to go wrong. So please don’t be fooled by that. Remember that the same person can have both good and long-lasting and bad programs which could be hit hard by hit-n-runners, DDoS attacks, payment processors issues, or indeed any number of problems. The issue of trust can be manipulated in order to make you think that it’s relatively safe to invest in one particular program. An admin can even issue refunds to members in one program and after gaining their trust run another short term scam which will cover the expenses of the first program and then make him an enormous profit. So please be careful about that either.

So, let me just wrap it up by saying that I sincerely hope you found some food for thought in all of that, and as always don’t be shy in raising your own voices on this or any other topic covered in any of the previous issues of MNOFridays. Debate and discussion is the key to educating yourself in this industry (the don’t teach it in school you know!) so if you do or don’t like anything feel free at all times to leave a comment.

DAILY NEWS FROM THE INDUSTRY.

The biggest news today was the official closure of DollarCommerce which was first announced on my Shoutbox, then spread all over the internet, and ended up with the admin sending a newsletter confirming it. The program lasted for 52 days and was a smashing success paying out on a 5 day plan for over 10 cycles and a 10 day plan for a full 5 cycles. This is an especially great achievement considering that DollarCommerce successfully survived Christmas and managed to last for a whole month in 2011. So how did it happen and what were the events that made the admin decide to close his program today?

It all started with me discovering that I had an LR pending payout for over 24 hours today. So I immediately let Chris know about that and asked him if everything was alright and that maybe there was some cashflow issues. You might remember that there was one scamming admin with a personal grudge against Chris and started spreading lies on forums about the status of the program. And we all know that behavior can panic many people into withdrawing their money. However, Chris dismissed this view and said that simply the program had cashflow issues which started a few days ago already. The admin tried his best to continue but it looks he couldn’t do so. He explained to me in this email after which I immediately moved DollarCommerce program to Not Paying status on MNO:
“Hello Paul and sorry for the late response. I am sorry to announce but it seems DollarCommerce is done. Recent days’ cashflow is the worst ever experienced at DollarCommerce. I was hoping for the situation to improve, but lately only small deposits came in. I think you can also check it yourself referring for the ref.coms amounts received.
With this said I can tell that DollarCommerce is officially over. I hope it was a good run for the program nevertheless the outcome now. Chris”.

As usual, MNO was the first monitor to move DollarCommerce to Not Paying status and since my monitoring is one of the biggest others soon followed. Fortunately, a couple of hours after that the official newsletter followed where the reasons for the program’s collapse were explained, the deposit button was disabled, and the program was closed in a proper manner. The admin also managed to process some latest AlertPay payouts before the account was empty. You can still file a complaint of course but it’s very unlikely you will get any refund. Here is the last farewell newsletter from DollarCommerce:
“Hello everyone, this is Christopher Baker. Also know as Chris from DollarCommerce.
I am very sorry to announce that in the recent days the cash-flow was really critical and therefor latest withdrawals were not processed. I was hoping for the situation to improve but unfortunately it didn’t happen. I have paid out as much as possible on all e-currencies accounts and I’m continuing to find a solution to process at least part of them.
With this said I’m announcing official closure of DollarCommerce. I thank everyone who stayed with DollarCommerce since December 2010. There’s nothing I can do as some people turned into hit-and-runners here, they just deposited big amounts and left DollarCommerce without supporting it.
I am going to disable the deposit feature very soon so there are no new funds coming in. I think DollarCommerce was a good run anyway, despite the fact that it was launched in so called black-december, when lots of programs appeared and turned into scams quickly.
Please let me all know if you would like to see a new program being opened from me. I will definitely work on new business model to make a better investment program for everyone.
Please do not reply to this e-mail asking a refund or partial refund, because I have paid out already all available funds so accounts are almost emptied now. You still can try asking AlertPay to refund a transaction, but I doubt it will happen because my AP account is emptied as well.
Feel free to share your opinion and efforts about DollarCommerce by replying to this e-mail.
Yours Sincerely, Christopher Baker”.

It was really strange to see the admin in the MNO Chat room straight after the official announcement of DC’s closure. As I can see he was bombarded by questions there with some demanding a refund and others praising the program’s success for nearly two months online. It came as a surprise as well that Chris promised to have his new program announced from the DollarCommerce server which he will apparently be running under his current alias – Christopher Baker. I don’t know if the new DollarCommerce will be so successful because there will be many hit-n-runners from the outset. I believe that his new program will be a success only if the investment plans will be more sustainable or at least have some protection against hit-n-runners in place. Otherwise I can’t see how a new DollarCommerce will survive. I think I already gave you the example of InvestiMates above (in the MNOFridays issue) so you should be aware what I’m talking about. Anyway, I sincerely wish Chris every success with his new program because very few admins are honest enough to disable deposits or admit their program is over.

If you lost in DollarCommerce you can try your luck in some other short term programs to get it back. For instance, I was paid on expiry 110% after 4 days from the newly launched BentleyClub (reviewed here). The program only accepts LibertyReserve and PerfectMoney at the moment but the thing that it’s still flying under the radar and not spend much on advertising makes me cautiously optimistic about them. Note that BentleyClub offers two investment plans – 110% after 4 days, and 140% after 12 days – and pays on your withdrawal requests within 24 hours. Of course I cannot predict for how long BentleyClub will last but it was really stable in payouts so far.

And there are others that are still doing absolutely amazingly well. First there’s ExtraIncome (reviewed here) which finally managed to get into the top 5 best performing programs on MNO tonight. The program managed to stay online for nearly two months and paying even higher returns that DC had – 120% after 5 days, 145% after 10 days, and 170% after 15 days. Only the first shortest term plan has an affordable minimum to invest of $5 which can be made via AlertPay, PerfectMoney and LibertyReserve. The other plans have higher minimums of $100 and $200 respectively. So obviously the 5-day plan remains the most popular option among the members of ExtraIncome which the admin of the program Phil admitted himself in the interview which he gave to MNO (click here to read it in full). The latest newsletter contained really little practical information but was rather a promotional email praising the program’s growth and encouraging members to promote ExtraIncome further via different methods. Well, this input is also important and the program should be promoted well in order to grow constantly and stay online for a long time. But I would like to see some visible improvements as well which are so far only in the planning stages. They include adding telephone support in various languages and the program’s own forum. I will keep you updated on when these are implemented. Meanwhile, you can read the latest newsletter from ExtraIncome for yourself below:
“Dear Members,
A very hearty congratulation to all the members who are lucky and fortunate enough to make money with the prestigious ExtraIncome!
It has been almost two months since we have begun our online journey, and serving our members to the best of our abilities. We have been providing every member with prompt payments and support, without any difference. Every member, regardless whether they are a big investor or small investor, is the same to us, and we treat each and every one of them, equally, and that is exactly the reason for our huge success.
Our growth has been shocking all throughout our journey, and I owe it to my members. Without you, this would not have been possible, and I thank every member for showing their continuous support for us. You can just imagine our growth by looking at our Alexa statistics. Just go through our Alexa graphical statistics, and witness for yourself our mind-boggling growth. Truly, we owe all this to our member who have been with us all throughout, and all the members who are yet to join us.
I have been receiving quite a lot of e-mails recently from many members, asking me as to how to promote their referral links. The answer to it is quite simple. Just use your referral link in various Paid-To-Click sites, AutoSurfs, Traffic Exchange program, blogs, monitors, signatures in forums, or you can even recommend us directly to your friends and family, by word of mouth. You can find your own referral link, and the promotional banners required for the promotion, in your account area. That is all what is necessary. The number of referrals you will be able to get will depend on the seriousness of your promotion, and the quality of sites you use to promote your referral links. Well, keep on promoting, because we have a serious referral contest coming in our way, in which we will give the winners, a very big cash prize, and it is not far enough.
The future of ExtraIncome is stunningly bright, and I am sure that ExtraIncome will be the biggest and the top program of this industry within a very few days; and not to mention, the best program this industry has ever seen. ExtraIncome is here to make a difference; a complete difference from all other programs which seems to be promising, but cut-off your head in the end by running away with your money. ExtraIncome is not here to look as if we are promising, but we are a promising program, and we are here to make a very bright mark in the history of high yield investment programs.
We have some exciting features going to be added to our program within a short period of time; a couple of them being telephone support in different languages, and our very own personal forum. So stay tuned for those exciting features.
I wish every member of ExtraIncome, a very beautiful, cheerful, and restful weekend.
Best Regards, Phil Whitaker. ExtraIncome”.

Another promising short-term program which has reached #3 on MNO after nearly a month online is KlickWallet. After an honest interview with the admin on MNO (click here to read it) there was a Live Chat session held with MNO readers two days ago. This proved to be perhaps the most open minded and candid interview I have ever seen with an admin. Instead of lying about his involvement with Forex, stocks and all the other usual nonsense the admin of KlickWallet Andrew freely admitted that the entire industry was no more than a ponzi based game and that he was very experienced in running different types of programs in the past. There were also other interesting aspects of the industry discussed in the chat including dishonest competition, payment processors and the longevity of HYIPs. You can read the full transcript here. And this is the latest newsletter from KlickWallet announcing the chat:
“Hey guys,
As I announced before we had live conference at Money-News-Online chat. I think we had really nice discussion with some cash prizes. Well, if you missed you still have a chance to check it, live chat transcript published at Money-News-Online forum:
http://money-news-online.com/forum/viewtopic.php?f=44&t=1334
Thanks to all who participated and I hope we will have more live conferences soon. Well, thats all for today. Enjoy your weekends, I will be back at Monday with my next KlickWallet #6 Newsletter. See you soon.
Best regards, Andrew Bridge
KlickWallet Admin”.
I remind you that KlickWallet pays 107%-115% after 5 days, 127%-140% after 10 days, and 170%-200% after 20 days and accepts AlertPay, LibertyReserve and PerfectMoney payment processors. It has been listed on MNO for 25 days already. You can read more about the program in my review of KlickWallet published here.

Here is the list of the programs which paid me for the last 24 hours:
ExtraIncome, ForexTradingTeam, GorgonProjectInvest, KlickWallet, FxEconomy, Escaliva, BentleyClub, AccessTomorrow, Businex, OilCapital, ReProFinance, SilverDigger, UnicornInv, MidasGoldFund, IncomeLadder, FondosMayores, FutureTrails, and GainBucks.

That’s all for today, guys. I might possibly take tomorrow off if there isn’t much news to report, but I promise to see you on MNO very soon. Have a good weekend and make it special for yourselves and your loved ones!