No Bullshit HYIP Blog, A Part of No Bullshit Network

12DP Market is 9 days old and a knock-off on the old giant, 12DailyPro. The terms are very similar. One big difference is the payment processors/ecurrencies that 12DP Market is using. They are accepting E-Gold, e-Bullion, MoneyBookers and PayPal. I’m sure that they didn’t get their “business plan” approved before opening up accounts.

While E-Gold is widely used by both HYIPs and Autosurfs, the others aren’t and with good reason. The others do not accept Autosurfs. Here are excerpts from their Terms of Service (TOS):

e-Bullion:

While using this Web site, you shall not:
c. post or transmit any advertisements, solicitations, chain letters, pyramid schemes, investment opportunities or other unsolicited commercial communication (except as otherwise expressly permitted by e-Bullion.com) or engage in spamming or flooding.

MoneyBookers:

6.6. It is strictly forbidden to send payments in order to pay for tobacco products, prescription drugs, firearms, porn and hardcore content or services, illegal multi-level marketing and pyramid selling services as well as illegal downloads or any other goods and services infringing intellectual property rights of a third party. Furthermore, it is strictly forbidden for citizens or residents of the United States of America to send payments to websites offering gambling services such as sports betting, casino games and pokers games.

and

7.5. It is strictly forbidden to receive payments as consideration for the delivery of tobacco products, prescription drugs, firearms, porn and hardcore content or services, illegal multi-level marketing and pyramid selling services as well as illegal downloads or any other goods and services infringing intellectual property rights of a third party. Furthermore, it is strictly forbidden for citizens or residents of the United States of America to receive payments from websites offering gambling services such as sports betting, casino games and pokers games.

PayPal:

Multi-level Marketing, Pyramid and Matrix Programs

You may not use PayPal to send or receive payments for any form of multi-level marketing programs (including online payment randomizers), as well as matrix, pyramid and Ponzi schemes, “get rich quick” schemes, “Autosurf” programs, High Yield Investment Programs (HYIP), or other similar ventures.

Multi-Level Marketing
Multi-level marketing plans, also known as “network” or “matrix” marketing, include any business in which a person receives proceeds from his or her own sales of goods or services, of recruited members, or any combination thereof. Similarly, PayPal prohibits as a Multi-Level Marketing plan any business in which payouts occur at two or more levels (both by the individual who actually sold the product as well as by the person(s) “upline” that recruited the selling individual). PayPal prohibits Multi-level Marketing plans whether or not they are legal under the laws of one or more states.

Pyramid and Ponzi Schemes
Pyramid schemes, including Gifting Clubs, involve the exchange of money in relation to the process of enrolling other people into the scheme. PayPal includes in its definition of “pyramid schemes” any system in which a hierarchy is created by people joining under others who joined previously, and in which those who join make payments to those above them in the hierarchy (”upline”). Pyramid schemes are prohibited as a form of investment fraud by federal laws and by the laws of each of the fifty individual states. PayPal considers online payment randomizers to be a type of pyramid scheme because the majority of commissions are paid for recruitment of new members, and typically operate by random placement within the program.

Ponzi schemes involve a system in which existing members of a program receive payouts that are largely funded by new payments into the program. The source of these new payments into the program can either be from new members paying to join the program or from existing members contributing more money to the program.

Matrix Programs
PayPal prohibits as a “matrix program” any business model that involves the exchange of money primarily for the purpose of being added to a waiting list for a product. In these instances, the individual at the top of the list receives the product only after a set number of people have joined below him or her.

“Get Rich Quick” And Other Related Businesses
Get Rich Quick schemes include any type of self-employment, start-up businesses, or investment opportunity where the claims of profit or returns on investment are unrealistic or unsupported. By law, if a business opportunity costs $500.00 USD or more, the promoter is required to support any claims regarding earnings or profits with written documentation.

In determining whether a website or account violates our Multi-level Marketing, Pyramid and Matrix Programs Policy, PayPal will consider some or all of the following factors:

• Offering commissions to recruit new members
• Requiring new distributors to purchase costly inventory or “start-up kits”
• Members’ profits are derived from recruiting new members or from the sales of newly-recruited members (”downline”), rather than their own sales
• Payouts are funded through money paid into the system by new or existing members
• Money paid into the system is significantly greater than money paid out
• Unrealistic or unsupported promises regarding profits/return on investment
• Percentage of the company’s goods sold by non-distributor
• Businesses warned against by the Better Business Bureau, state Attorney General, Federal Trade Commission (FTC), or any state or federal agency
• Flow of money derived from new members predominantly moves “upline”
• Preservation of the business rests on the exponential growth of new members or customers
• Speculative real estate or non-development property

I want to touch a bit more on PayPal, since it’s the most notorious for their actions against HYIPs/Autosurfs. If they see multiple payments going in and out of PayPal, they red-flag it for investigation. In addition, if there is a complaint, they investigate. PayPal will discover 12DP Market. When they do, not only will 12DP Market’s account be frozen, so will everyone’s account that received payment from 12DP Market. OK, you might be thinking, “I just won’t use PayPal with 12DP Market, I’ll use one of the others.” Wrong! When 12DP Market’s PayPal account is frozen, there is fallout for the rest of the membership. Either they don’t reimburse the unhappy PayPal members or they rob the other members even more and reimburse via E-Gold. (It actually states on their site that they will reimburse via E-Gold, if their other accounts are frozen.) Other Autosurfs have tried this unsuccessfully. There will be a very quick mass exodus or 12DP Market will fold immediately, if they even last long enough to have an account frozen.

Bottom line: don’t risk your money with HYIPs/Autosurfs using questionable and/or definitely wrong payment processors/ecurrencies. Risking your funds being lost/scammed/stolen is one thing. Risking your funds in your payment processor/ecurrency is quite another, because your expectation is that these funds are relatively safe.

JMO - Sharon

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