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Author Topic: Internet Money Making Schemes- updated with pic of check!!!!  (Read 3004 times)
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Eco-Logic
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« on: August 23, 2005, 05:48:26 PM »

So, another wild look into Eco's crazy money making escapades on the net.  This time, a bit more controversial.  

A while back I sold a ton of old PC games to a guy on Anandtech.  After he claimed the games in the for sale forum, he proceeded to tell me the only way he could pay me was with e-gold.  At that time I hadn't even heard of e-gold.  So, he agreed to pay me more (+ shipping to Indonesia), if I would accept e-gold.  I signed up for an account with them and he paid me and I sent his games.  

I have had about $90 worth of e-gold just sitting there for over a year now.  

Fast forward to 2 months ago.  I received an email from a friend I went to college with with an attachment of a check written to him for $1,200.  In the email he explained to me how he “earned” the money, and went on asking me how he should claim the earnings on his taxes.  The check was his 2nd and he expects one just like it ever month.  

The scheme is auto-surfing.  I had heard of it before but never really thought anything of it.  But seeing his check prompted me to go look at the site.  After looking at the site I decided to sign up and give it a shot (free to start).  

I started surfing and realized there was really nothing to it.  I have no clue about the legality of it.  All I know is that there are a ton of people making loads of money from doing it.  

I then remembered my e-gold and decided to go ahead and use it to upgrade my account so I am able to earn more for surfing.  My good friend and I were talking about it all and he decided to join as well, only he upgraded his account by $10K (dude is loaded to the teeth), which in turn allowed me to upgrade my account by $1,000 (10% of referral commission).  For the record, I repeatedly tried to talk him into doing much less than $10k, but he insisited.

So now I have the ability to receive a $390 check each month if I so choose, all the while I still haven’t exactly figured out how to claim it on my taxes.  The general consensus is to claim it as gambling income, after all the admin of the site could shut the whole thing down on a whim (although its been around since 2001).  I talked about it with an attorney and he said I am fine in terms of the legality of it all, as long as I claim it on my taxes.  
My friend who upgraded by $10K received his first payment of $3,100 a few days ago.

It’s actually quiet scary to think about how much some folks are making with the program.  

Anyway, I look forward to hearing insight.  Don’t bother berating me on the riskiness of it because as of right now I haven’t actually put a dime into it (other than the e-gold which was just sitting there anyway).
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« Reply #1 on: August 23, 2005, 05:53:11 PM »

What's auto-surfing?
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« Reply #2 on: August 23, 2005, 05:55:33 PM »

Wow.  That is crazy.  Is auto-surfing where you set your PC to sniff out ads and click them and get a click through percentage or what?  

I'd say its a 'business' in the legal sense as you are making a transaction for 'work'.  I'm no lawyer though..maybe Rage would know?
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Eco-Logic
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« Reply #3 on: August 23, 2005, 05:59:51 PM »

Well to surf, all I do is click on Surf and it loads 1 site per 20 seconds (with ads on each page).  You are required to actually view the ads slywink The site pays you 1% of your account value per every day you surf.  You can use your earnings to upgrade (thus compounding your earnings) at the end of each month, or if your account value is over $100 you can request a check for the earnings.  

I would be happy to provide anyone that is interested in the site with a link (read: referral link), so in case you did happen to join I would get credit for it.  I will refrain from posting the link on the forum as I don’t think it is in the best interest of CG to allow referral links of any type to be posted in the forum.
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« Reply #4 on: August 23, 2005, 06:20:10 PM »

Aren't yout getting spyware up the ying-yang doing this?
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Eco-Logic
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« Reply #5 on: August 23, 2005, 06:26:45 PM »

Quote from: "warning"
Aren't yout getting spyware up the ying-yang doing this?


Completely understandable that you would ask this.  No, I am not getting spyware at all.  

You are not required to download anything.  I use firefox to do the surfing and run spybot and ad-aware every friday, and it only finds the typical cookie tracker stuff (no more than before I started surfing).
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« Reply #6 on: August 23, 2005, 06:33:17 PM »

But you have to put money in to begin with, right?
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« Reply #7 on: August 23, 2005, 06:34:39 PM »

Quote from: "Zarkon"
But you have to put money in to begin with, right?


They actually give you a small ($10) account to start with, but yes, you would have to have an account level of $100 (either from your own money, or from referral comissions.  In my case I just did it since the gold was sitting there doing nothing.  

It's pretty weird to me that people are getting paid what they are getting paid.
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« Reply #8 on: August 23, 2005, 06:47:12 PM »

Okay, so they start you with $10....how quickly does your money grow, though?
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Eco-Logic
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« Reply #9 on: August 23, 2005, 06:50:41 PM »

Quote from: "Zarkon"
Okay, so they start you with $10....how quickly does your money grow, though?


1% per day, so with $10 not that much.

Some people have 2 or 3 maxed out accounts, all paying $4,600 per month.
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« Reply #10 on: August 23, 2005, 07:09:58 PM »

sounds like what they are really doing is paying 1% interest per month on your money.  They add in the requirement of surfing the net with the ad's to generate revenue for themselves then use that to pay the users.  They also have the users money in an account and can most likely use that on investments etc. to generate more income.

I have heard of these before and I guy I worked with (who is into money for nothing schemes) had one installed on his PC, he used a mouse trembler program to make it look like he was always at the keyboard.  I have no idea if he actually got any money from it or not.

What is the name of the company?
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Eco-Logic
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« Reply #11 on: August 23, 2005, 07:22:50 PM »

Quote from: "drifter"
sounds like what they are really doing is paying 1% interest per month on your money.  They add in the requirement of surfing the net with the ad's to generate revenue for themselves then use that to pay the users.  They also have the users money in an account and can most likely use that on investments etc. to generate more income.

I have heard of these before and I guy I worked with (who is into money for nothing schemes) had one installed on his PC, he used a mouse trembler program to make it look like he was always at the keyboard.  I have no idea if he actually got any money from it or not.

What is the name of the company?


They are paying you 1% interest on your money, per day, not per month and you are not required to install anything on your computer.
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« Reply #12 on: August 23, 2005, 07:45:16 PM »

How many hours do you have to do this to get the credit though?
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Zarkon
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« Reply #13 on: August 23, 2005, 07:52:22 PM »

A quick math check means that at 1% interest per day, you'd make a total of $377.83 in a year.  Whee.
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« Reply #14 on: August 23, 2005, 08:05:10 PM »

In addition to how long, what do you have to actually do. Are you just sitting there watching the ads go by, or are you clicking on them or what?
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Eco-Logic
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« Reply #15 on: August 23, 2005, 08:08:06 PM »

Quote from: "Zarkon"
How many hours do you have to do this to get the credit though?


It doesn't even take a whole hour.  It's a fully automatic process.  I set mine up to surf, check back a little while later, once I get to 100, I close it.  End of story.


Quote from: "Zarkon"
A quick math check means that at 1% interest per day, you'd make a total of $377.83 in a year.  Whee.


You can check your math and play with things using this spreadsheet.

http://ontheright.us/simulator/simulator.xls

The beauty of compounding... smile  

*You receive 1% per day, each and every day that you surf.
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« Reply #16 on: August 23, 2005, 08:10:09 PM »

Also, FYI, My original $100 account, would have earned me $100 by December if my friend hadn't rocketed my account to the $1,000 level.
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« Reply #17 on: August 23, 2005, 08:18:13 PM »

Right.  The more you put in, the more it'll make.  But if you don't put anything in, you won't really get anything for ages. smile
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Eco-Logic
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« Reply #18 on: August 23, 2005, 08:20:39 PM »

Quote from: "Zarkon"
Right.  The more you put in, the more it'll make.  But if you don't put anything in, you won't really get anything for ages. smile


Why sure, $10 is just to get people interested.  

You can't take your earnings unless your account is over $100 anyway.
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« Reply #19 on: August 23, 2005, 08:22:08 PM »

Huh... sounds interesting, though I was never one for these kind of things unless there was good evidence to back the validity up.

I know on Cheap Ass Gamer there are people who 'trade' references or whatnot for those 'free iPod with participation' "offers," and apparently they actually do end up getting their free iPod once they fulfill their quota.  I've considered doing one of the "deals" that people have actually cashed in on, but I've never gotten around to it.
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« Reply #20 on: August 23, 2005, 08:26:52 PM »

I tried setting up a conga line on here, KD, and no one was interested. biggrin

If we could get up the interest, we could set up a few different conga lines. *shrug*  The problem with it is that the people who join in quickly get the goodies, the people that show up later generally don't.  Granted, you could always also get other people you know to join in in that case.
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« Reply #21 on: August 24, 2005, 12:58:44 PM »

Eco maybe you can answer this questions.

Any money paid to them to upgrade the account is kept as a memberhsip fee so to speak.  The upgrades expire and have to be renewed as well.  

How often do the upgrades expire?  I cannot find this information in the FAQ.

For instance you have been upgraded to the $1000 level so you have to surf less sites to earn the 1% payback a day.  When does your $1000 upgrade expire?  With the earnings at 1% it will take a bit over 3 months to earn what you invested just to be able to maintain the account level.
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« Reply #22 on: August 24, 2005, 02:16:37 PM »

I don't know.  Something about this just doesn't sit right.  For me it just sounds too easy and along the lines of sounds to good to be true.

I'm not ripping Eco or anyone else if they are doing it but I have just been burned a few times in the past.

Hope it works out for you guys and good luck.

Pig
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« Reply #23 on: August 24, 2005, 03:02:40 PM »

Quote from: "drifter"
Eco maybe you can answer this questions.

Any money paid to them to upgrade the account is kept as a memberhsip fee so to speak.  The upgrades expire and have to be renewed as well.  

How often do the upgrades expire?  I cannot find this information in the FAQ.

For instance you have been upgraded to the $1000 level so you have to surf less sites to earn the 1% payback a day.  When does your $1000 upgrade expire?  With the earnings at 1% it will take a bit over 3 months to earn what you invested just to be able to maintain the account level.


An upgrade expires 12 months after it was made.  

In order to maintain an the same account level you can take 1/12 of the account level and upgrade by that much each month, taking the other as earnings.  

Here is an explanation on a 15,000 account as given on the forum:

Quote
You are right about the $2000 that expire in jan. 2006. So when you want to keep your account level at $15,000 you have to pay $2000 and only withdraw $2500.

When you want to keep an account level of 15,000 and have a regular monthly income you can better reserve 1/12 of $15,000 is $1250 a month.
Then you will have a monthly income of $3250 a month.

The best thing to do (financially) is to withdraw $3250 in october (earnings of september) and open a second account to fund it with the $1250. (you will have an account level of 1260 then). Next month you do the same, but you don't upgrade your earnings of this second account yet, first you need to save your $2000 for the upgrade of your first account as that $2000 will expire in january 2006.

Do you see the potential already.....


Also, FYI it is in the FAQ on the site:

Quote

    
How long does the Upgrade Level last?   
Each upgrade last 12 months, before expiring. Remember, just like when you upgrade, the earnings go up for the entire month, when an upgrade expires, the same is true. Your earnings will drop for that month, unless you upgrade again, to compensate for the expired upgrade.


Let me know if you have any more questions.  You can take it to IM if you like.
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« Reply #24 on: August 24, 2005, 03:48:41 PM »

Well, Eco - it sounds too good to be true.  My dad who is retired FBI Special Agent and still works for the FBI always told me that if the money comes too freely, then it is probably illegal.

I know your Lawyer friend told you it was OK, but I question how this is legal and it looks to me like an elaborate pyramid scheme which is definitely illegal.  I say it is a pyramid because of the tiers, the money, etc.  If I were you I would look a little more into the plan.  

Of course, I may be jaded because of my Dad and the fact that I am working for the Attorney General of Texas this semester in the consumer fraud division.
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« Reply #25 on: August 24, 2005, 04:49:03 PM »

More info here
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« Reply #26 on: November 21, 2005, 04:43:09 PM »

As an update to this controversial thread:

This past Saturday I received my first payment in the form of a check ($440).   It did take it a little while but it finally came.

I'm just going to ride this thing out as long as it keeps paying.  I'm now 100% in profit!
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« Reply #27 on: November 21, 2005, 07:06:50 PM »

Good job!  It's amazing to see this kind of thing pay out money.

But if you decide to start selling dick-pills, please take me off the list  Tongue
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« Reply #28 on: November 21, 2005, 07:26:11 PM »

Here is a picture of the check.  I just back from cashing the it!



 biggrin
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« Reply #29 on: November 21, 2005, 08:55:11 PM »

a handwritten cheque?

why do I find that disturbing?
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« Reply #30 on: November 21, 2005, 09:00:08 PM »

Quote from: "Cleric7"
a handwritten cheque?

why do I find that disturbing?


I dunno, I cashed it without a hitch smile
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« Reply #31 on: November 21, 2005, 09:39:44 PM »

Having read the info linked to by Freezer, this is absolutely a modern "Ponzi scheme".

I would hazard a guess that Eco may be one of the lucky "early" people -- and more power to him! -- but that folks joining now have a good chance of losing all their money. Definitely worth reading Freezer's link if you are tempted to get into this.
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« Reply #32 on: November 21, 2005, 09:43:48 PM »

Quote from: "Cleric7"
Having read the info linked to by Freezer, this is absolutely a modern "Ponzi scheme".

I would hazard a guess that Eco may be one of the lucky "early" people -- and more power to him! -- but that folks joining now have a good chance of losing all their money. Definitely worth reading Freezer's link if you are tempted to get into this.


Yea, I would agree with that.

FYI, I never posted here to raise interest or have others join, just filling you in on my experience.  

Also FYI, The one I am in has been going strong since 2001 and received over $12 mil in fees...  Pretty crazy.
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« Reply #33 on: November 22, 2005, 03:02:35 PM »

Quote from: "Eco-Logic"
Quote from: "Cleric7"
Having read the info linked to by Freezer, this is absolutely a modern "Ponzi scheme".

I would hazard a guess that Eco may be one of the lucky "early" people -- and more power to him! -- but that folks joining now have a good chance of losing all their money. Definitely worth reading Freezer's link if you are tempted to get into this.


Yea, I would agree with that.

FYI, I never posted here to raise interest or have others join, just filling you in on my experience.  

Also FYI, The one I am in has been going strong since 2001 and received over $12 mil in fees...  Pretty crazy.

Yeah.. I was gonna say you didn't exactly get in early.
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« Reply #34 on: November 22, 2005, 07:25:39 PM »

But it isnt technically a ponzi, is it?  I thought it was somehow tied in to money generated from advertising or something.
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« Reply #35 on: November 22, 2005, 11:10:38 PM »

Quote from: "unbreakable"
But it isnt technically a ponzi, is it?  I thought it was somehow tied in to money generated from advertising or something.


Well that is the ultimate question.  The site states that they receive revenue from a number of different programs that do in fact exist.  However, many find it hard to believe that they can afford to payout $127,637.50 every single day of every month.

It's pretty interesting.  My Dads interest peaked after he saw my check.
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« Reply #36 on: November 23, 2005, 08:56:22 AM »

Quote from: "Eco-Logic"
Quote from: "unbreakable"
But it isnt technically a ponzi, is it?  I thought it was somehow tied in to money generated from advertising or something.


Well that is the ultimate question.  The site states that they receive revenue from a number of different programs that do in fact exist.  However, many find it hard to believe that they can afford to payout $127,637.50 every single day of every month.

It's pretty interesting.  My Dads interest peaked after he saw my check.


They can afford to payout $127,637.50 every day as long as there are more than that amount of money coming in from new members or greedy old members that put in more money because they made money with their first $100 gamble.

I'm not suprised that they pay you several hundreds dollars. It is just a bait to try to make you or someone you know invest more of money. Look like it is effective so far since apparently your dad is tempted. Just make sure your dad don't put too much money.

Now if your dad or you invested and get $100K+ check from them then that'll be surprising to me.

As for money generating from ads, etc. I think those are just a cover, they don't make money at all. It is a pyramid scheme, they use money from new investment to pay people that invested.

If they can afford to pay 1% interest per day, they're better off borrowing money from bank or even loan shark. As for clicking and viewing ads business, that is a bull. Those can probably earn you 1% of $100, but impossible to earn you 1% of $1000+ per day.

We had scams like that often here in Indonesia and every single one of them scammers run off with people's money. We had one that pretend to make money from selling jeans which ran for about two years. Then there are several that pretend to be investment in agriculture related business, and one that sell arts.
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