wantmore.co.uk

[Z3R-0]

Not sure what to think about this site...

The lists are really small since the site went online 1st may.. Nice design etc.

http://www.wantmore.co.uk

What's everyones views on this site?

[MatrixWatch]

It is a matrix/pyramid scam. Stay far away from it. Read our write up entitled "What is a matrix" in the Main Menu box.

To make matters worse, this matrix site is using PayPal, and PayPal has strict policies against matrix sites. The minute they find out about the wantmore site, PayPal will freeze the account, and the customers will be out of luck. The site will eventually close down under pressure from their customers regarding refunds.

If a matrix site is using PayPal, then all it would take is one person emailing PayPal to let them know about it. The people usually send the matrix site's paypal account name (in this case it is "WantMore") and the URL to: PayPal-Compliance@paypal.com

I wouldn't be surprised if some vigilantes had already done this.

[Z3R-0]

Thanks for the reply!
Can't paypal give the refunds before they close the account?

I mean, if the money is still in the account, paypal can just move it back right, since they own the account? Or is that a stupid question?

[ycchen]

What do I think? a typical pyramid-matrix scam...:)

Okay, some quick comments:

1) the cycle length is too long : mostly cycle of 18 or 22. Remember, the longer the length, the longer the wait. The more people stuck in the system.

2) Only 3 people cycled on 3 speculative IPOD lists. Yet, no one get their 'free gift'. They are all "awaiting stock". They might or might not get the gift at all.

3) Even if they get their gift and post testimonial, you can not really sure that those are real names, not fake names invented by the owner. There is NO way you can verify the information unless winner post picture with their gift on the site.

4) All these matrix-sites are riding on the IPOD sales. The sales will slow down after more sites join this speculations and dilute the sale on each site.

5) In sum, I think you are too late to join this particular site. So, save your money and buy Ipod 3 months later from legitimate online store when its price goes down. If you signup to matrix right now, I garantee that your wait is MORE than 3 months! Even if you cycle 1 year later, you might not get your IPOD.

6) Alternatively, you can set up a matrix-site with your friend and scam money on Ipod. Then, you will make money to buy 10 Ipod in a very short time ..:) Now you know why so many copycat matrix-sites mushroom in the U.K.?

[MatrixWatch]

Originally posted by Z3R-0
Thanks for the reply!
Can't paypal give the refunds before they close the account?

I mean, if the money is still in the account, paypal can just move it back right, since they own the account? Or is that a stupid question?

Refunds to the customers of the matrix site? It is a good question.

[wantmore]

Yes,
That's right - I own the www.wantmore.co.uk website.

To 'ycchen' - You havent got a clue. How dare you call this a scam... You know nothing. You have to remember this site is only a week old - give me chance to sort out everything and wait for cheques to clear etc.

When the site opened - there was only one iPod (the 15GB) but I had several requests to add the mini iPod and the 40GB version. Are you saying I should not have added these iPods? That's hardly being customer-focused is it?

Isn't it obvious why some lists are 18-22? The list length respect the value of item. If you're reading this and haven't visited the site don't think that all the lists are of this size - there 13 items with a list length less than 10. These include Games Consoles, DVD Players, Digital Radio, Digital Cameras and Minidisc player.

I don't think it's to late to join the site (after a week!!!), there are new products added all the time and there is a newsletter which you can subscribe to get notified straight away.

Anyway, I'm sure there are still some haters out there - and personally I'm not that bothered. When users order from my site they are notified in plain english exactly what they are and what they are not paying for. So they understand the risk involved, but I feel this site is the best and fairest matrix site out there. If I'm wrong - let me know (webmaster@wantmore.co.uk)

Mark Baker

[ycchen]

All matrix-sites are SCAM becuase they are online Pyramid Scheme. Period. It is all about SCAMMING money from 20 people in order to pay 1 early bird (usually friend of the owner) and owner himself or herself.

Like all the pyramid scheme, wantmore.co.uk is a scam business that CREATES ZERO value, except scamming money from poorly informed students.

It does not matter what you write to your clients or what you sell. It won't change the fact that you are running a online pyramid scheme because of your cash flow structure. Got it?

At any given time -- now or 100 years later -- your pyramid-matrix scheme will has around 90% of customers WAITING. The fact that you only service 10% of the customers make your scheme a BIG SCAM!

Let me explain the RISK from the newbie's perspective. The risk of getting nothing from this scam website is NOW. Their lists are TOO LONG already. The last 50% of people in this waiting list will most likely to get NOTHING in return, so don't give a dime to this and all the pyramid-matrix scam!

[MatrixWatch]

Originally posted by wantmore
I feel this site is the best and fairest matrix site out there.

Mark Baker

Matrix sites are only "fair" to the owner and the first couple people on the lists. The only people who actually invest in these scams anymore are the people who know how the system works, so after a couple people sign up it is doubtful that they will be able to gather enough people to sign up under them.

I would highly recommend that you refund your customers and close down your site as quickly as possible. Even former matrix owners would tell you that.

[mercinary]

You would think that with all the different matrix class-action lawsuits flying around that no one in their right minds would try opening up a new matrix site.....

-Merc

[ycchen]

Most new matrix-sites are opened outside the U.S., especially in the U.K. and Canada . So, unless we have similar class lawsuit filed in these two places, or else... they will survive for a while, scam a few thousand dollars at least before they stagnant and dissappear gradually.

[jjjj]

Pyramid schemes / ponzis / matrix's are not against the law in the UK but this will all change in 2005. While it isn't against the law all CC companies do charge backs for 6 month so it shouldn't be worth anyone's while as they won't make any money out of it.

[MatrixWatch]

Originally posted by wantmore
I don't think it's to late to join the site (after a week!!!), there are new products added all the time and there is a newsletter which you can subscribe to get notified straight away.

Anyway, I'm sure there are still some haters out there - and personally I'm not that bothered. When users order from my site they are notified in plain english exactly what they are and what they are not paying for. So they understand the risk involved, but I feel this site is the best and fairest matrix site out there. If I'm wrong - let me know...

It looks like PayPal went ahead and froze your matrix account. Don't you need that money to pay off cyclers? How will those people on the lists respond when they find out that you are only collecting orders via mailbox only?

Did you mail out a newsletter to your customers 'straight away' to tell the subscribers about the PayPal policies your matrix site was in violation of?

[wantmore]

Yes, Paypal did close my account and froze all the money in there :(
Serves me right for not finding an alternative straight away.

But hey, that's life - we live and learn!

I have transferred the money from my day job to my company account, so there are no users who've lost out. Although I am getting queries about paypal or other online payment systems - people don't seem that bothered in sending my cheques in (except my postie)

[MatrixWatch]

So you are supplementing the frozen funds with your own money? Whatever you choose to do will be up to you, but I would suggest that you begin refunding your cusotmers before things get worse. If you are already running in the negative at this point then the matrix system has no remedies for you in the long run. Trust us, it has been statistically proven. You can access this info in our downloads section, or through the GotMatrix sub-forum (example).

The matrix-marketing model has the same structure as a pyramid scheme, and that only way for you to make a profit on wantmore.co.uk would be to suddenly close your site down one day and run off with the money. The horrible news for your customers is that they will not be able to call a credit-card company and access their money. They will be forced to contact the police and government authorities to track you down through bank records. You will be in a heap of trouble at that point and you will wish that you had just refunded them while it wasn't too difficult to do so. Read through the MSNBC links in the center box on our home page. There are matrix owners who have refunded their customers up to $25,000 in order to avoid the tidal wave of anger later on.

[MatrixWatch]

Originally posted by jjjj
Pyramid schemes / ponzis / matrix's are not against the law in the UK but this will all change in 2005. While it isn't against the law all CC companies do charge backs for 6 month so it shouldn't be worth anyone's while as they won't make any money out of it.


Here is an interesting writeup on some proposed legislation:

http://www.culture.gov.uk/global/press_notices/archive_2004/dcms027_04.htm