Due Dilligence Is The Achilles Heel Of The Online HYIP Market. HyipSpace.com Two Month HYIP Activity Report.
We started investment activities via the online HYIP market on 21 november 2008 by investing 10$ with W-MT and 50$ with GMT2U. Today, at the writing of this first investment activity report on January 26th 2009, we are 83 transactions further, for the moment, only with Liberty Reserve.
It has been a bumpy ride. Our total turnover is 674$ and at a certain point, we had 14 lines of principal for a total sum of 339$. At this writing, only 92$ of that is still active, all other lines have failed, which means we lost 247$.
The sites that failed us are: PowerTrader Team, BBF, GMT2U, Might Trade, Safe Atom, Traders Capital, ManiaTrade, BamaInvestment, Centasia, Eko Funds and InoFund. Most HYIP monitors prefer to call failed sites scammers, but this is hard to prove as there is a general lack of true tangible information.
We shall refrain from naming names as there might be people out there who were pursuing a dream with no intention to harm and be of service somehow, yet who in the actual market turmoil were confronted to situations that could not possibly have been predicted.
Through all that, we also still managed to make 57$, that is, interest paid out on invested principals. (Not commissions received from referals). Our net overall result is negative. We lost 247$ of capital and are showing a negative return of 19.51$. After the first two months, we are not in profit.
In clear language:
We invested/withdrew 339$, provoking a turnover of 674$ and 8$ of costs
We lost 247$
We made 57$
We still have 92$ invested
We are waiting for 33$ from requested withdrawals
15$ are counted as an investment in waiting. (Some monitors are saying this Hyip is Bust, some are saying it is still paying)
Our only true returns could be monitored from URINVEST (at 0.65%/day average yield) and Olympex (at 0.49%/day average yield). All others are either lost principals or ongoing accounts.
HYIP is an enormously time and energy consuming activity. Sites have to be logged on to daily, checking other HYIP monitors and forums as well. The books have to be kept to keep tabs on the ongoing activity. We check and double check to weed out mistakes, so as to present a picture as cristal clear as possible. We wrote that is has been a bumpy ride, but my partner wishes to add he feels it was more like a wild roller coaster.
Our first impression, after two months of activity is that this is a very volatile and fickle market with enormous potential, provided one can obtain reliable information.
As this is very rarely the case, for the most part, investments are made on faith. The results reflect this. Due dilligence is the achilles heel of the online HYIP market, we hope this will improve over time and that we will find way other than intuition, experience or wild guesses to help guide us along.
