Scams, traps and money: an exclusive interview with ex-admin RSS - comments

hyip admin scamAn exclusive interview with ex-admin of hyips,  the owner and founder of ex-admin.com blog.

Money-Monitor: First of all, let’s talk about your past: once upon a time you held the prized position of an administrator of your own program. What’s you best memory of that time?

Ex-Admin: My best memories are for when the investors were happy with my performance and were sending me emails of appreciation. I have had programs lasting for one year or more so you should know what I mean...


Money-Monitor: Do you miss that kind of feedback? Or is the blog-appreciation enough for the time being?

Ex-Admin: I miss those days, but I'm really too busy with my offline work and with my life. I don't have time to make my hands dirty again. And regarding the blog, I really didn't expect to receive that much response. I'm amazed honestly.


Money-Monitor: From what you write on your blog, one may gather that being an administrator was only a semi-positive experience. Would you say that it was all worth it?

Ex-Admin: Being an HYIP admin was not that positive at all. You have to do a lot of tricks, a lot of scams around, you have to lie... And honestly this was one of the reasons I left it.


Money-Monitor: I understand. But, still, many people wonder: is it profitable?

Ex-Admin: Of course it is, money wise it is one of the best businesses online if you know how to do it.


Money-Monitor: Could you lift the veil of mystery surrounding the earnings of a HYIP creator?

Ex-Admin: A HYIP admin like R7, has surely earned at least a few millions. Or newGNi is earning the same. A fast scam will make quite a few thousands close to hundred thousands, e.g. something like TheBig5.


Money-Monitor: OK, since we’re talking about the money and we all know that in order to make money you have to spend money I'm going to ask: is it just as true when it comes to HYIP programs? Did you need any seed money to begin with? And how do you legally spend money that you earn in this particular way?

Ex-Admin: You have to spend near one to two thousand dollars if you want to do it right and with some good promotions. But when you want to exchange the funds, it becomes a bit tricky: you have to know the right people, the right rate, and the right way... For LR and PM, the easiest ones, you just sell them for WU or BW of an offshore account or a fake ID to get the funds yourself. For STP and AP (until a few months ago), there are some HYIP monitors who do the exchange, and you may have to pay as high as 20-25% exchange fee to exchange to LR/PM. And, of course, holding for 3-5 business days till they can withdraw their funds.


Money-Monitor: It really doesn't sound all that simple...

Ex-Admin: As I said: it is tricky here.


Money-Monitor: We're talking about the very beginnings, so let’s talk about your background. Why did you start the HYIP adventure in the first place?

Ex-Admin: Honestly speaking, I was in financial trouble and I had no other way! Even in the first one, I lost some money as I wasn't aware of the environment enough. I had borrowed the money to start the second one and then I knew how to do it.


Money-Monitor: So while you were an administrator it probably wasn't the only thing you were doing at that time? Did you go to regular work as well?

Ex-Admin: Yes, and I still do.


Money-Monitor: Many people have some bad experiences with HYIPs and they often feel like they were taken advantage of – do you feel responsible for deceiving people?

Ex-Admin: Actually I'm going to write about it soon, but in short, sometimes yes, sometimes no. If my HYIP has run for more than a year and most of my investors are in profit, then: no I wouldn't! If the majority were in loss, yes I would.

 

Money-Monitor: Any major regrets?

Ex-Admin: Yes, I regret coming into this business and I wish I started something else in the first place. But it becomes like an addiction and when you make money, you like it. But after some time, when you're free to think about it and look in the past, you regret a lot of it.


Money-Monitor: Do you know of any HYIP that was/is not a Ponzi scheme? Do you think that it’s even possible?

Ex-Admin: No, it is NOT possible. ALL are Ponzi!


Money-Monitor: In the good old/bad days, did you invest in your own programs?

Ex-Admin: Why would I do that? (laughs) I never even invested in any other HYIP despite all you may think. I trade in Forex (for real) to make the profit. I just started investing in HYIPs since I started the blog, or very very seldom, like in newGNi when it started.


Money-Monitor: So if you were to advise somebody who is about to create his/her own HYIP what would you say?

Ex-Admin: I have received many emails from the prospective admins or even current admins and I always try to give reliable and honest pieces of advice. I wouldn't say "yes it is good, go for it". I say that if you're planning for it, do your best. And you MUST feel responsible for what you're doing.


Money-Monitor: And what does a person need in order to create a HYIP?

Ex-Admin: Money, and experience if it's the first time. Also, they would definitely need some advice from an experienced admin. Otherwise it will be a total failure.


Money-Monitor: Is it a “one may show” or do you need a lot of help from others - besides a sensei, namely somebody experienced like you.

Ex-Admin: Every step of the way needs experience! When you start an HYIP, when you are processing withdrawals, how to manage your funds, how to make sure you would last for long, how to generate some income, when you want to promote, when you want to exchange, when you want to respond to emails, when you want to close, when you should close... I can go on and on.


Money-Monitor: How about cooperating with monitor administrators, exchangers, people that you meet on different fora? Did they help you in any way?

Ex-Admin: Almost all of them care about their business first and I only found one or two honest people among them. I got scammed by some exchangers and working with greedy HYIP-monitors (no offense, I didn't work with you) is also neither easy, nor pleasant.


Money-Monitor: What can a person do to avoid that?

Ex-Admin: To avoid being scammed: searching in forums, google... And at least a word of advice from someone who has done it all before.

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