Hi Linda,
I'm sure with you on this one! :-)
I posted in the very first forum I was invited to for the purpose of convincing me to join 12DP that these things were likely illegal and even if they were not, would not last. History has a way of repeating itself.
After that post, I put my money where my mouth was, joined 12DP and several others, and bought a small number of "units." I ran all these programs almost every day, and as they matured, "reinvested" the proceeds. I threw up a promo page just on these programs, to see what kind of advertising results they would bring (just barely over zero) - no surprise there.
The net result is, even before the 12DP thing, they have fallen, one by one, and still they fall. Even if they were legal (and it's become fairly plain that 12DP isn't, even to its most serious supporters), they do not stand a chance of lasting, as the ad revenue they can generate is far too low. Advertisers will not pay a premium for the kind of traffic - if any - they will get from advertising on these sites.
What we are going to see in the fairly near future is even the sites that have been paying the lowest percentages and perhaps, quite legally, are going to fizzle out and die. Higher percentage sites and hyips based in countries with lax laws will continue to pop up and rip gullible people off. Greed and a desire to get something for nothing will keep them alive, just like the Nigerian scam emails and others.
It's also my opinion that Stormpay is going to be taken through the wringer and may not even survive. It's not so much because of the way they froze the accounts of companies like 12DP and others, but more because they knowingly profited from the proceeds when they could have distanced themselves right from the beginning by refusing to deal with paid autosurfs and hyips just like Paypal did. It will be interesting to see how the authorities look at their involvement.
Anyway, as I said in one of my own threads, "If these high paying "companies" aren't ponzis, then they are either on drugs or selling drugs!"
God bless,
Dave
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