06/04/08. ProfitBay: Reasons For Failure and Strange Reactions

Hi, guys! The recent scam ProfitBay made so much noise in the industry that it really drove many people mad. It was a surprise for me too that ProfitBay scammed just after 2 days but the hysterics created by some of the investors really made me totally confused. Some of them even called everybody to strike from all HYIPs and not to join them till the first of June. If this happens they think all HYIP admins will suddenly become more honest and run the program for at least a couple of cycles. This also poses several questions.

First, it’s really strange why we should announce a blanket boycott on all the HYIPs. In my opinion, long-term HYIPs are much more stable and it’s strange why we should boycott them too. Such HYIPs like AcmosTrade and UltimateHYIP keep paying the members every time and I don’t see any reason why we shouldn’t support them.

Secondly, why should only HYIPs be boycotted and why not autosurfs? After the very fast demise of MoneyTrip and AdProsperity that lasted only for a month or even less I can’t see a reason why the choice is HYIPs only.

And thirdly, why only till the first of June? Do they really think that something will change in this industry because of that? Well, if they think so they are either greatly mistaken or simply have no idea how this industry works. I simply must say to them that the industry is full of scammers. It was, it is and it will be and you can do nothing to stop them. Their attempt to go on strike is ridiculous and will lead to nothing. In my opinion, every investor should decide for himself if he wants to take part in such games and therefore be ready for the possible consequences. Or else just leave the industry completely because without the losses there will be no profits. The only chance not to suffer any losses is to leave that HYIP field and not just till the first of June but forever.

I repeat that this is a risky field and you should always remember it and diversify where ever possible. I try my best to provide you with what I hope is useful info that helps you to make your decision where to invest and what to avoid. But I’m not responsible for the scammers’ actions, moreover whenever it’s possible I fight them by exposing their activities. Those who have been reading my blog for a long time know this. But it’s strange for me to hear some accusations towards me just for publishing my interviews with admins. The program administratiors can say anything that is not necessarily true and anyway they will scam eventually but in this industry any program will end sooner or later and my task is to provide you with some info to consider before investing. All necessary conclusions can only be drawn by yourselves.

I agree that I was wrong when I recommended you ProfitBay but anybody who claims that he is never mistaken is simply lying. I had some hesitations before joining but still decided to go ahead with it. Now that I know ProfitBay is over I can share my thoughts with you. I’m just doing it because there were some lessons to learn for me and I hope I will not make such mistakes in the future if I point them out in this article.

1) First I really found out about ProfitBay through spam emails that I reported to the admin on the MMG forum. He assured me that the spammers’ ID’s were suspended and that it was usual when spamming before launching a good program. I had a rule not to join any program through spam and it was the first time and I think the last time when I break my own rule. In fact I think the admin himself spread the spammers’ emails with fake referral links and actually they were sent supposedly from TalkGold forum and even from MoneyNews i.e. myself. If you received them too I assure you that I never send spam and I will only ever contact you upon request or if you are subscribed to my “Money-News Club“.

2) The pre-launch stage, which is not unusual for any HYIP, created the necessary hype for the admin to collect the necessary money for 2 days only and then to disappear. During the pre-launch stage already the admin bought a big banner on MMG and started advertising. Many big spenders jumped on the bandwagon in order to make some fast easy money but they were really disappointed that the admin’s plans were not to run a successful program but to go away with as much money as possible. I believe that was his real plan from the beginning but by running his HYIP in this manner he will always stay in our memory as one of the shrewdest scammers who really shook the whole industry.

3) There were some rumors that the admin Alex aka “Account Holder” lost some money in the well-known FastProfitPro and SurfProfitPro and just came back to scam fast to recoup his losses from those programs. In this case it was really strange for me to see “exist1” in the forum thread. This is something fishy about it! I remember this “Account Holder” and can confirm that he really was one of the big investors in both FPP and SPP and probably lost. But I can neither confirm or deny this. But many members just joined this HYIP because it was from “trusted” MMG member. Remember, my friends, there is NO such a thing as trusted MMG member. They are all trusted until they scam you so be careful in the future and don’t buy it anymore.

4) The Waylex script as I mentioned before can be some shelter for scammers sharing their ideas. I don’t know why ProfitBay and YourProfitHere ended on the same day but it’s more that just a coincidence in my opinion. Yes, they were also both based on Waylex script and this is also added some more suspicion. But what I saw with my own eyes is that YourProfitHere admin Marc was in ProfitBay thread and that’s what he said when he was publicly noticed there: “Well, some time ago Account Holder was a regular visitor in our thread too. I wish admin the best of luck in running his new program!” This is totally my own speculation though I suspect that there is some criminal partnership hiding behind this Waylex script and maybe the developers of the script and the scammers are working hand in hand to rob the investors.

But if YourProfitHere paid for 3 full 5-day cycles therefore giving the perfect opportunity to the investors to earn some money and I have nothing against the admin. ProfitBay set a new record with noisy pre-launch, mad two days with all this hype and singing the praises of the admin’s honesty and finally total disappearance of the admin to leave all his members in the dark. I understand completely the anger and frustration of many people that lost some money there but they have nobody to blame except this admin-scammer and there’s nothing we can do about him but to hope that karma will reach him eventually and he will pay for this in one way or another. Let’s just be more careful in the future and move on! And let ProfitBay become a very useful lesson for us all. Yes, for many of us it became an expensive lesson but this is the way this industry works. You win some and you lose some and if you can’t afford the loss which is necessary part of the investment process just leave it and better put your money in the bank though remember that you will never be able to get a chance there to be in 50% after just a month. In this industry it’s possible and I believe I try to educate you to earn more and lose less money with my blog. And I will continue to do so and plan to expand my services very soon which I hope you will be witness to if you stay with me!

Other news for today.

Today is Sunday and it means no payouts from ProfitGame (read the interview with the admin here) and EmmaInvest programs. The payouts will resume tomorrow server time. I’d like to inform you that the admin of EmmaInvest was banned from MMG forum for supposedly having multiple ID’s so according to MMG rules EmmaInvest was moved to “Closed” folder. It’s a warning sign though the program is still paying but it can be the first sign of a future collapse. I’m almost 100% sure now that EmmaInvest admin is actually the same admin that was behind Invest4Games and Invest4FastProfit. It is fair to say though the admin’s point of view and that’s what he/she said: “EmmaInvest is working fine, NO multi ID, always use 1 ISP/PROXY, because I can’t access many sites from my place due to firewall.” EmmaInvest was one of the hottest programs as many members tend to deposit there even they knew that it was from the same admin that ran Invest4Games. At least we know that the admin will pay till the end (unlike many others like ProfitBay admin) and there’s still a good chance to be in profit. Here’s the latest update from the admin: “EmmaInvest site was finally moved to a new protected hosting. Faster server, much better DDoS protection, domain is protected against blocking. Find the BlackLotus (new hosting) verification seal on the site to check. DDoS Protected (enable the Java-script to check).” If you’re interested read the interview with the admin of the program Emma here.

Last night I published the interview with the admin of FastProfitNetwork that you can found here. Just before the publishing I received an update from the admin John and here I would like to publish the most important points from this update: “FastProfitNetwork is back more secured and safe. We thank you and everyone of our members for their continous support at FastProfitNetwork. For nearly one month running, everything has been working smoothly, all members get paid on time and new members have been enjoying our quick profit system. With FPN, our goal has always remained making it one of the top classy advertising and income producing program. We are aware that although today is an important part of the future, but the future is more important than today. Hence, our investment managers have come up with a perfect solution that will enable us stand the test of time. As such, they have come up with a solution that will enable us become a premier advertising solution to advertisers and a perfect income generating program the admins can support and create immense wealth themselves. In other to achieve this, we will have a small change on our income plan. Rather than the usual 140% returns in 14 days, we now have a new decent and long term plan of 135% returns in 15 days. Additionally, we have decided to stop AlertPay as one of our payment processors. This is because our members profit is supplemented by our digital currency trade. With AlertPay, it is almost impossible to generate extra income as that currency cannot be traded by us. For members with active AlertPay deposit, we will pay them with AlertPay too but we advise you join AlterGold. AlterGold members can withdraw their funds using the new AlterGold Visa card and can also convert their money to several other currencies: E-gold, Liberty Reserve, SolidTrustPay and WesternUnion withdrawal. As you can see, this fine change will support our entire future plans.”

This is all the news for today and I hope next week will bring us more happiness and less disappointments. See you tomorrow, guys!