The topic of today’s discussion will be HYIP monitors. So let’s first give the definition to that term. HYIP monitor is a specially designed website that usually runs on a script indicating an up to date status of an investment program (typically “paying”, “waiting”, or “not paying”) in exchange for a fee paid by the investment program’s owner.
As far as I know there are over 400 monitoring sites online and sometimes poor programs seem to have more monitors than members. Frankly speaking, most monitors are just rubbish because they care about nothing more than filling their own pockets while providing absolutely nothing of any value to their readers. Sometimes trusting such monitors can be dangerous for the investors because (as countless examples will prove) even popular monitors are sometimes too lazy, too slow, or just too incompetent to give an accurate status on the programs they monitor. So their intended function which visitors are hoping to use them for is not fulfilled properly and they become misleading. A recent shocking experience with a popular short term program showed five days after it scammed, one “leading” monitor still insisted on listing them as a perfectly paying website! It makes little difference if this is deliberate or accidental, because the end result is the same – investors who trust those monitors and use them as an exclusive source of info are getting robbed.
But then another question arises. Why are monitors so slow when it comes to moving programs to Problem status? There could be several different reasons for that. I will mention just a few obvious ones:
1) Laziness. When a monitor simply can’t be bothered to update his site’s stats on a daily basis simply shows disrespect and contempt for investors. It’s only a matter of time before this attitude leads to a decline in ratings;
2) A deliberate attempt to mislead the investors. This might be disguised as laziness, but in fact the admin is just hoping to make as much money from referrals even if it means selective payouts to them only and regular investors losing money;
3) Bribery. A monitor displays paying status for a program after the HYIP admin pays him to do so for days if not weeks – the admin keeps his logo pretending to be a Paying program and get profits from unsuspecting investors;
4) And the most shocking scenario – sometimes the admins of monitoring sites run their own HYIPs (or their buddies are running them) and of course they will make sure to keep them on Paying status for as long as possible providing the investors with deliberately false information.
There could be many different reasons for why monitors are not as fast as MNO and not reacting to members’ complaints like they are supposed to do and instead display the program on Paying status while clearly knowing that it’s not the case. Believe me, I can tell you that 90% of monitors are working this way and meaning that they are in collaboration with HYIP admins and not for but against investors.
But wait! There is more to it than that. Some monitor admins are as crooked as many HYIP admins. I was really shocked when one of reader recently sent me an email exchange with one well known monitor where he said that he would not move a particular scam program to Problem status until the member gave him access to his PerfectMoney account. Surely he can’t be serious! That reader was no fool and refused (it’s actually the same thing as giving your wallet to a total stranger on the street in hope that he will not steal anything) otherwise his money could be stolen. Maybe not today or tomorrow, but later when you’ve forgotten about the whole thing and might have quite a bit of money stashed away there. I wonder how many such accounts that admin already emptied pretending to be your friend and ready to help but actually doing nothing but collaborating with HYIP admins instead!
Please note that in order to prove that you were not paid from a program you simply have to give access to your account in the program (which I usually ask for in order to verify the complaint is genuine and not merely the member misunderstanding the terms and conditions) and surely it would be stupid to give anybody access to your money. Believe me some people trust me and they invite me to check their PM accounts as well. I always refuse of course as I’m not a crook and I prefer to run a legitimate business instead of stealing the money like some HYIP admins. So in no way should you provide access to your e-currency accounts to anybody or give passwords to them. Please do not make this mistake as it will cost you dearly!
Speaking of other not so honest monitors I’m wondering what their real purpose in this industry is. They are useless to investors as they simply mislead them and provide false information causing investors to lose their hard earned money. They are useless to admins as many of them do not deliver many referrals due to artificially inflated ratings and other untrue stats they like to show off and display, so the admins lose their money too on monitoring fees. Please note that I’m not talking about all monitors here as I know some of them really do care about investors and try to do their best to help them if needed, but the vast majority do not care about anything but making money at the expense of others. And usually it’s the investors who will suffer from their incompetency and dishonesty. Take particular care with the so called RCB or ref-back monitors here by the way, as they are so often the worst offenders. The thing about them is that it's in the HYIP admin's best interests to keep their programs displayed as paying with them for as long as possible after the scam. In many cases you see, because the first thing people think of getting a sort of “bribe” for investing, the HYIP admin wants to keep these monitors on his side by continuing to pay them. In most cases this is just a couple of cents, and negligible in comparison to the size of the deposits the investors are making. But is it worth it just to claim back ref commissions? I mean what about the bulk of your actual deposit, isn't that more important? So you deposit $100 via some crooked RCB monitor, he then “rewards” you with a $5 refund, and you can then kiss goodbye to remaining $95. Wanna complain to your friendly RCB monitor who values your custom so much? Good luck with that, as far as he's concerned he's served his purpose and everything else is your problem now!
The above are the more negative reasons, the ugly side of human. On the other hand, it takes 2 hands to clap, a genuine and honest webmaster may wants to update the data as fast as possible, but due to the lack of manpower and too many tasks to complete such as improvement and marketing etc, information are transit slow. One or few may make only a small difference, but in a large group, it will certainly create an earthquake. Investors is often encourage to participate in voting, commenting or giving feedback, all these are valuable information which in return help other investor make sound decisions in HYIP investments. Every bits count.
I hope this article provides you with some food for thought. As always if you have any questions, personal experiences you'd like to share, or opinions either for or against what I've written here then please by all means feel free to share them.