If you have been around the forums such as Talkgold, MMG and some of the others for any time, you have likely heard of the program Investment 96. Investment 96 really has an interesting history. It is operated by one of the most notorious hyip admins. His name is Richard O'Neill and he has tried to make a successful hyip time and time again. How you ask? Well rather than claiming to trade stocks or do forex trading like most of the hyip admins out there, Richard plays poker... and he actually plays. It all sounds well and good, but the problem is that Richard just really isn't good at poker. He always loses. First he started out with GG-Investments, then he moved onto JP-Daily, both failed. Next he created Investment 96, which had the intention of refunding everyone from JP Daily, as well as providing a new poker investment for new investments. It got pretty big, up to about $200k in capital, however once again, just as the Christmas season rolled around, Richard announced that Investment 96 was in a bit of trouble and that he didn't have enough money for the program to be liquid.
So whats the plan now? Well he plans to refund everyone from all of his previous programs, while continuing to accept new investments into Investment 96 (Part Deux). If you are one of the people that has lost money previously in one of his two programs, my advice would be to keep hassling Richard and get your refund out of him as fast as possible. Even if you are forced to receive a partial refund, it would be worth it... as undoubtably Investment 96 will fail again... its just in Richard's nature, and we all know that he really isn't good enough at poker to make the returns that he likes to post. Furthermore, Richard is not an honest guy. When Investment 96 first failed, he more or less admitted that he had faked a load of screenshots that he had been using just weeks earlier to prove that the program was "liquid" to get more investments.
If you are not already trapped in Richard's program, my recommendation would to be either stay far away, or to only make a small deposit. It is most likely that Investment 96 will fail again, however if you get in at the right time you will be able to make a nice tidy profit before it collapses again. Personally I have about $400 trapped with Richard. I have made more than that in profit that I have withdrawn, so I'm not overly concerned, however I would be happy if I could manage to get that out of him.
Verdict: Proceed with caution, and question everything that Richard claims.
Mr. Money Man
Monday, December 31, 2007
Sunday, December 30, 2007
Is E-gold Safe?
With e-gold being the primary e-currency used in the hyip arena, one question that we must ask ourselves is: "Is E-gold Safe?" We already have enough to worry about with hyips collapsing on a daily (if not hourly or minutely basis), that we don't need or want to be worrying about our ecurrency being unsafe.
The first big scare for e-gold came in April of 2007 when it was raided and taken offline by the Secret Service. It was also announced that the owners were being charged with operating a money transfer service without proper licensing as well as laundering money. Since the beginning of the trial not too much has happened, but overall it doesn't look all that great for e-gold users. Besides the current unbelievably high exchange rates to deal with e-gold, up to 20% in some cases, e-gold has not fulfilled its promises.
Does anyone remember back when they first came out with the idea of Omnipay Africa. They said that Omnipay would be back online rather quickly and in about 6 weeks (which happened to be about June 2007) that the service would be back online. Despite this claim, Omnipay africa is not yet online, and the only way to cash out your e-gold is if other people want to buy it. Since none of the actual physical gold is being liquidated, all of the money in e-gold is trapped in the system, and exchangers are only able to buy as much e-gold as they are able to sell to their customers.
The verdict: E-gold is dangerous. Though it is a necessity at this point to investing in hyips, I would be happy if the hyip arena would continue its move to a more stable system such as webmoney, or liberty reserve. In the meantime, don't keep too much money in e-gold. Infact, when you fund e-currency, I would recommend funding WMZ (webmoney) and then converting it to e-gold using an automatic exchanger as needed (such as wmirk.ru or roboxchange.com). The main benefits of this are
1. Safety
2. If you exchange with certain exchangers, they will actually pay you to take their e-gold (rather than charging a fee)... So you can make up to about 6% just by exchanging it to e-gold, thus offsetting some of the exchange costs when you have the daunting task of getting it out.
In conclusion, e-gold isn't safe, but its a necessity for the hyip world that we live in. ;)
Mr. Money Man
The first big scare for e-gold came in April of 2007 when it was raided and taken offline by the Secret Service. It was also announced that the owners were being charged with operating a money transfer service without proper licensing as well as laundering money. Since the beginning of the trial not too much has happened, but overall it doesn't look all that great for e-gold users. Besides the current unbelievably high exchange rates to deal with e-gold, up to 20% in some cases, e-gold has not fulfilled its promises.
Does anyone remember back when they first came out with the idea of Omnipay Africa. They said that Omnipay would be back online rather quickly and in about 6 weeks (which happened to be about June 2007) that the service would be back online. Despite this claim, Omnipay africa is not yet online, and the only way to cash out your e-gold is if other people want to buy it. Since none of the actual physical gold is being liquidated, all of the money in e-gold is trapped in the system, and exchangers are only able to buy as much e-gold as they are able to sell to their customers.
The verdict: E-gold is dangerous. Though it is a necessity at this point to investing in hyips, I would be happy if the hyip arena would continue its move to a more stable system such as webmoney, or liberty reserve. In the meantime, don't keep too much money in e-gold. Infact, when you fund e-currency, I would recommend funding WMZ (webmoney) and then converting it to e-gold using an automatic exchanger as needed (such as wmirk.ru or roboxchange.com). The main benefits of this are
1. Safety
2. If you exchange with certain exchangers, they will actually pay you to take their e-gold (rather than charging a fee)... So you can make up to about 6% just by exchanging it to e-gold, thus offsetting some of the exchange costs when you have the daunting task of getting it out.
In conclusion, e-gold isn't safe, but its a necessity for the hyip world that we live in. ;)
Mr. Money Man
Saturday, December 29, 2007
Minvestment
Is this one still around? Well I'm not going to post too much about Minvestment, because in general I really don't have too much information on it. All I really know is that when I first saw it I laughed. Basically it is one of the most basic programs that I have seen in a long time that has absolutely nothing unique about it. The only thing that it has going for it is that it his purchased numerous large advertising campaigns at all of the major hyip forums.
If you had got into Minvestment when it first came out, you probably would have had a chance to make money, however at this point if you were to put any money in it you would simply be tossing it away.
Verdict: Avoid at all costs
Mr. Money Man
If you had got into Minvestment when it first came out, you probably would have had a chance to make money, however at this point if you were to put any money in it you would simply be tossing it away.
Verdict: Avoid at all costs
Mr. Money Man
Mr. Money Man's Hyip Blog
For all of you out there who are familiar with hyips, I thought you may be interested in reading a new premium blog by Mr. Money Man all about hyips. I will study the hyips that are out there on the internet, which ones you should invest in, and most of all which ones you should avoid. I hope to teach you alot about hyips and introduce you to some of the best investing concepts out there.
I have been investing in hyips part time for over 5 years now and in that time I have made over $100,000. Thats pretty good, especially since the majority of hyip investors lose significant amounts of money. There are a few keys to being successful in hyips and one of those is diversification. That being said, you must also remember that in recent times the number of new hyips that are created everyday has increased significantly, while the number of quality hyips has gone down. I believe that this is mainly caused by the number of people entering the hyip arena from third world countries, and china, who have learned how to setup a hyip using a basic web script and make a hyip just for fun. The main key to hyip investing is to avoid any program that doesn't have a public english speaking admin, or plenty of advertising. One of those two is key to being a success in the hyip arena.
Anyway, thanks for checking out my blog and I will try to post new things here on a frequent basis. I hope you learn alot.
Mr. Money Man
- Hyip Expert ;)
I have been investing in hyips part time for over 5 years now and in that time I have made over $100,000. Thats pretty good, especially since the majority of hyip investors lose significant amounts of money. There are a few keys to being successful in hyips and one of those is diversification. That being said, you must also remember that in recent times the number of new hyips that are created everyday has increased significantly, while the number of quality hyips has gone down. I believe that this is mainly caused by the number of people entering the hyip arena from third world countries, and china, who have learned how to setup a hyip using a basic web script and make a hyip just for fun. The main key to hyip investing is to avoid any program that doesn't have a public english speaking admin, or plenty of advertising. One of those two is key to being a success in the hyip arena.
Anyway, thanks for checking out my blog and I will try to post new things here on a frequent basis. I hope you learn alot.
Mr. Money Man
- Hyip Expert ;)
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