HYIPs? Brideby?

[MatrixWatch]

What are these HYIPs all about?

http://www.matrix-sites.net/forum/index.php?act=ST&f=5&t=377&s=

[hurley9192]

HYIP stands for Have Your Income Purged :D

sounds like an investment swindle where you pay in money and the people pay out returns based on some type of system.

[matrixfriendly]

should have named this site something else if it was going to be a catch all movement!

[MatrixWatch]

So, are the HYIPs just another e-gold game, or are they something different?

[MatrixWatch]

I noticed that the District Red Newsletter was partially devoted to these HYIP's. What is the whole story on these things? Which HYIP sites are the largest?

[MatrixWatch]

Here is another one of those HYIPs sites.

http://expcash.cjb.net/

I still don't quite understand them.

[mjkski]

This is very difficult to research. From what I can tell it can be a legitimate business, but it appears that it is also a huge cesspool of maggots trying to swindle people out of their money.

As with anything "High Yield funds"- the risks are huge. The one you submitted is very vague on what they actually invest in other then the stock market and Foreign stock market (FOREX). "Betting" involves speculating, hedging and wagering on the movements of financial markets such as foreign currencies, stock market indexes, and on certain stocks. It is real difficult to locate much information on this. Some of them just end up being a ponzi scam or altogether way to run with peoples money and never "invest" the money in anything but the owners pockets. I don't understand how they can promise a specific returns without investing in something less volatile such as a CD, but my guess is they use some of the new money they take in to pay out some of the returns if they don't make the spread on the "bets". I saw one site where you do not get your original investment back- which tells me they are using it to pay out the returns.


That's what I have been able to figure out on this. Maybe someone out there can be more insightful on this.

[concerned]

Yeah, I can't really tell what they are, but I would HIGHLY recomend not getting involved in these at all. I would ONLY think about it if they told me what stocks and bonds they buy so that I could research their trends. It is dumb that they don't do that. With any investment fund, they tell you exactly what you are getting, or you are allowed to choose what funds you want to invest in. In addition, they charge you a fee sometimes to start out with. Then they take your money and invest it, and try to make as much money as possible. If they lose it, oh well, it wasn't theirs. If they make more than they told you to recieve, they keep the extra profit. That is odd. Usually a financial planner is free and only makes a small percentage of your earnings after you have made money. I don't know why people get suckered into the online invstments, but I'd rather use a free financial planner that has at least a masters degree in finance or economics, than some 18 year old that has to ask their mommys for an allowance.

[mjkski]

Yes- That is a Huge Red Flag. They provide no useful information to educate yourself on what they invest in. Lack of detail is never a good thing. I think I am going to start a new one called Goingtovegas.com. The premise is I am going to Vegas this weekend- so send me your money and I will send you back a 50 percent profit.

"Our system consists of Building property" and "Real Estate related stocks" I don't know this site or if it is legitimate. But when I saw that I thought- Sooo Are we are giving them money to build a new family home and vacation home, and pay his mortgage too? LOL.

[concerned]

Originally posted by mjkski
I think I am going to start a new one called Goingtovegas.com. The premise is I am going to Vegas this weekend- so send me your money and I will send you back a 50 percent profit.


The way these scams work, you can take their money, and go to vegas and gamble. If you do that 2 things will happen.

1) You win a boatload. In that case, you can still tell your customers that you lost, and their 50% of $0 is $0. You can even ask them which sleezy pay processor they want you to send their $0 thru.

2) You lose all of their money, and say oh well. You email all of your customers and say that you lost, but you had a great time with their money. You tell them that you made $0 profit and they will get 50%. See number 1 for payout options.


On the other hand you actually have one more option. You can NOT go to Vegas, but tell your customers you did. Tell them that you made $0 profit. See number 1 again about payout options.

[Bulldog]

Here is a site with some information on these scams...

http://www.hphyips.com/info.htm

[MatrixWatch]

Something is up with these HYIPs.. I just have a bad feeling about them.

[MatrixWatch]

Seems like the matrix community is gravitating toward the e-gold and HYIP games. I just don't understand that. They got involved with the matrix sites, got burned, and lost money... Now, they seek to recoup their losses through another "get-rich-quick" scheme. Has anyone ever heard of the "social definition of insanity"? It is when someone does the same thing, multiple times, and expects different results.

I have a question about these HYIP sites.. How is it that they can act as a broker with their customers? Have they registered for some sort of license to do this?

[Pineapples]

Heh, that's exactly what I am doing... But seems like egold is working for me. I'm slowly getting back what I have lost although it will take months b4 I get everything back.

[MatrixWatch]

Originally posted by Watch Dog
They got involved with the matrix sites, got burned, and lost money... Now, they seek to recoup their losses through another "get-rich-quick" scheme. Has anyone ever heard of the "social definition of insanity"? It is when someone does the same thing, multiple times, and expects different results.


From what I've read, that popular Brideby HYIP site has scammed everyone out of their money. I'm bummed for all the people involved, since Christmas is just around the corner.

Plus, Starr has to pay DARK-SIDE $100 in e-gold.

Guess Hurley was right! HYIP= Have Your Income Purged


For more info, read:

http://www.matrix-sites.net/forum/index.php?showtopic=871

http://www.top-matrix.com/forum/viewtopic.php?t=1709

[mikv]

Yeah, Brideby was shady right out the gate. I haven't read or heard of anybody getting what they paid for from them. From what I understand they change thier TOS whenever they find another way to take more money from their customers. The Matrix-Sites crew are all supporters of that site, there are brideby banners all over that site, yet noone has posted anything significant as far as a payout is concerned.

They just had another "with holding" increase. They now hold 70% of the customers money (up from 20%) citing "we need more online funds". There is definitely something fishy about these people. They make bad investments, then pass the bill on to the customer. The charge fees for just about everything and now they claim they need more money.

[GODHCTAW]

What state is their operation out of and are they incorporated?

[mikv]

According to their site they are a "virtual business" with no "real legal address". So being a virtual business they reside in cyberspace and feel that they don't need (or cannot have as they put it on their site) a physical address or any contact info to give their customers. They have a phone number to an affiliate in Austria but I'm guessing calling that number will still not produce anything. They actually say they "reject that requirement" of having this kind of info being the nature of the business they conduct.

Anyone who buys in is completely at the mercy of this so called "cyber business". Funny how the business is virtual yet a living breathing human is collecting and living it up somewhere in the world. So while the customers squirm and run around trying to get ahold of someone to see where their money is, this person or persons just sit back in complete secrecy and jack up the withholding percentages whenever they feel they need more money.

[ycchen]

I am just learning about this, so forgive me if I sound naive on this new 'scam'.

2.1% daily interest does not sound right to me. Correct me if I am wrong, 2.1% daily rate = 755.6% APR . If you compare to the APR of any credit card which is around 9.99 to 21%; APR of Checking account is probably 1-2% APR; Return on Mutual fund is probably 10-30% (not very sure).

How can any business promise an APR of 755.6%? Unless they are running casino, or...... matrix-sites its its first 3 weeks...:D

Any business that promise high return is usually a scam. Matrix is a scam because it promise 200% (cycle of 2) to 2000% (cycle of 20) return in a few weeks (in the first month) and then 10 years (6 months later).

[ycchen]

Here is one good discussion on Brideby to share.

http://www.matrix-sites.net/forum/index.php?showtopic=898

=Agent|Star,Nov 21 2003, 02:33 PMOkay people I know that HYIP has become the thing of the winter (as matrix was the thing of summer). I have been doing my research now and talking to a person who is closely involved with HYIP since summer 2002. Our conversations have taught me a lot.

I want to start out by admitting that when I got involved with brideby I didnt do my homework on the site... Honestly I didnt even know what I was doing cause e-gold stuff is soo confusing (obviously not runned by americans, so theres a cultural block lol)... I joined the site after coin kept at me (which i thank him for opening me up to this world) anyhow I joined the site made all my money back and shared my story. It is a true story I assure you, I waited over a month before telling my story. I am not sure how many people actually got invovled with the site I believe it to be little over 10 of us...

I am writing to say Brideby is extremly fishy like Dark-Sides been saying. Only after his posts did things arise and although I have still managed to get my daily withdrawls off the site, I learned Brideby operates as a ponzi or so suspected. They only way we can conclude it is not operating as a ponzi is if the admin provided proof of online/offline investments. As I have been saying within a few posts I no longer recommend the site, in fact if you cant afford to risk what you put in, take your prin and get off the site (rule os HYIP: dont invest what you cant afford to lose). You should look at Brideby as an example now, cause I have noticed many people advertising sites that are so similar then Brideby, be aware of these things people.

After my research and conversations, I will no longer be investing in "ponzi like" HYIPs... My suggestion to you is reading this well written beginners guide that I found few days ago: http://goldearners.net/hyipguide/home.html

It is a step toward better HYIP investing. Yes I have joined sites that are considered less risky as these sites will provide you with investors portfolios and whatever investment records. Usually these sites dont pay more then 1.50% daily, keep that in mind when you see a HYIP that looks reallyy good! Also these other sites dont even offer referral programs (so you know its no poni-like structure) if they do offer referrals its nothing great, just a one time payment.

I really hope this information helps you all. I don't like seeing my fellow matrix people getting scammed. Of course this all leads back to the golden rule, take responsibility for your own actions and what you do with your money. Also, for the many kids on this site, STOP INVESTING YOUR NOT MATURE ENOUGH YET!

Happy Investing to All Adults! :rock

*To dogs: why dont you link to this post too in that HYIP thread.

[tcgwebs]

Just thought I would throw in my two cents here. I've been involved with HYIPs for about a year, and I mostly agree with everything that's been said above. 99% of them are scams from the start, very fishy, very shady as many are run from countries like Russia and in Eastern Europe. Caveat emptor, everyone. Only invest what you can afford to lose. The vast majority of them are ponzis anyway.

[matches111]

I Have had the opportunity to be part of a few progremes of this kind

To find a properly run HYIP , with the level of risk you would be willing to tororate is 100% possible.

It would definetely give you the higest ROI you would not find in most industries .



INTREST ON YOUR ACCOUNT IS COMPOUNDED DAILY
:shake: :shake: :shake: :shake: :shake: :shake:

[concerned]

I Have had the opportunity to be part of a few progremes of this kind

Opportunity???? Don't you mean misfortune?

To find a properly run HYIP , with the level of risk you would be willing to tororate is 100% possible.

How do you find a "properly run" HYIP? Does it involve being open for more than a month?

It would definetely give you the higest ROI you would not find in most industries .

They can promise all the great ROIs in the world, but can they deliver? Very doubtful.


Just to let you know, this site is not here for you to recruit people into money making schemes. Please do not try to recruit people on this forum, or you will be banned. Maybe you should read the threads and learn a few things. Otherwise, you will most likely be back in a few months asking how to get your money back.