Well done Benson for setting up the donation link for Burma. hopefully all you bullion traders will donate some of your returns to those who have lost everything, and let’s hope they open up the borders to help.
Today I’m including a post I made before about online payment companies. For those that think I’ve been after them, heres what I said two weeks ago:
There are surprising demographics. It is not only those who don’t have a credit card, or who are cautious about putting credit card details online. More companies are using it to pay suppliers or freelancers who do work for them. Its a good way for a company to hold some funds in an account for that purpose, thus removing all those movements from the regular bank account. The simplicity of sending money to “joesmithsmoney” is a lot easier than getting the iban codes, swift addresses and coordinates for numerous international bank accounts. More people use Ebay to purchase things large and small, everyday, then there’s secondlife, and amazon, and online gambling, its endless…. they may not want to insert credit card details for many reasons. ( no I don’t work for them or get any kickbacks. Although if after reading this, any of you efinance companies begin to feel overwhelmingly generous towards me…. go ahead, double my balance, I dare you.)
Many people, on various forums I have visited, have many axes to grind with paypal and others, who they say won’t give them their money back when they want to close the account, or withdraw funds. (See previous blogs written by Mark and Benson.) I myself have had no problems with this. I do have a nominated bank account however, to empty funds into, so I can get the cash. I also secured my paypal account with my master card perhaps this helps, I don’t know how though, perhaps because im traceable though my bank.
On-line payment companies have been offering cards to draw money at ATMs, or to use as a charge or debit-card, for some time now. I think it rather depends where you live, when it comes to the security of these, as some are very bad and others Ok. Anything based outside of regulated U.S.A. or Europe could be a risk, check the fine print and rules about disclosure. But don’t quote me on that, again just an opinion.
A nominated bank account is kept within your paypal account, and should you want to empty some funds into your bank account, you request this. I normally wait 5 days for an international transfer into my bank, I wait till I simply have to, there are no charges for this. Although I do pay when receiving funds into Paypal.
If you need to close your account, this can be accomplished with a nominated bank account. Simply request it. I haven’t tested this, as I don’t want to close mine and open it again. Please give me feedback if you’ve had a problem closing, and I’ll research this more. There are hundreds of threads on paypal-forums and e bullion ones about this, so Google it. Next post.. investing in e currency.
Yours in money,
Moneypenny
Quote for today: “If you owe your bank a hundred pounds, you have a problem. If you owe it a million pounds, it has a problem!” JOHN MAYNARD KEYNES
(Digital Money World) Judy Chang from Paypal is seeking generous people to donate to victims of the recent cyclone disaster that has hit Myanmar.
The recent cyclone in Myanmar is reported to have claimed the lives of over 22,000 people, with another 41,000 reported as missing. The United Nations has reported that up to one million people could be left homeless as a result of the disaster.
And if you don’t really know what happened after Nargis Cyclone that hit the country, check out the aftermath youtube video which I’ve embedded here.
Have a heart. If you have spare money or don’t mind donating for a good cause, check Judy’s blog entry.
Here are some new and exciting updated that are coming up shortly:
- Version 3.0 of our Web Site that will feature additional options
for your convenience, streamlined logistics and friendlier
interface.
- Phone support is available for compliance department (regarding all issues
with verification of exchangers) and direct phone support for
exchangers is available now as well. Customer phone support is scheduled
to become available later this year and will be available to every
registered Liberty Reserve user.
- Live support will be available at least 8 hours per day, every day, which will extend to
24/7 before this year’s end.
- Company history, short employee bios and pictures will become
available with the next release of Liberty Reserve software (3.0),
along with detailed company registration and full compliance
information.
- New account types, and new VIP services will become available
after July 15th, of this year. Selected qualifying customers will enjoy
more personal service with added bonuses and discounts worldwide.
- Also, starting from July or August all exchange providers and
merchants, as long as VIP customers are welcome to come by our
offices and meet the people that make everything happen, as well
as, enjoy the Costa Rica and everything this wonderful country
has to offer.
Rest assured that Liberty Reserve will continue to stand out and
lead the way with its professionalism, team of highly skilled and
responsible employees and will continue to deliver on every
expectation you may have. Our commitment to you is to always keep
you informed, to provide the most secure, feature rich and private
environment to conduct your on-line business affairs, and, most
importantly to show the power and effect an electronic currency can have
in every day life.
From all of us at Liberty Reserve -
best of luck and a special thank you goes to our members,
exchangers, merchants and everyone else who stood by our side.
Though until now, L-R’s own website isn’t working for me properly yet.
Here’s a typical bullion ad to trade online, and quite typically there is no mention of risk in the stated fantastical returns. So who wouldn’t want to get a 170% return in a week? This is the kind of thinking that I mentioned in my post on investing online. While driving to work one day in 2000 I saw a billboard that said ” If you can click a mouse you can invest and buy and sell shares online” my response to this kind of thinking? “Yeh, right, and you can also jump off the empire state building, and wish to catch an updraft, which lands you safely and gently on your feet.
Clearly there are a lot of people out there trying to get these returns.
So here’s the challenge, since you are all heated up and ready for competition after the last post.
Tell us what your returns are in a week, in percentage terms. Your best week!
If you have money tied up in e-bullion you could be in for a rough ride in getting your funds back when cashing in. All these gold-scams like DXinone and the like eventually close their site, rename themselves, and set up shop again under a new name after a few months, gaining a whole new customer base.
Mark wrote many posts on this, that can be referred to here. A recent warning in 2007 was posted on a forum. It seems this was justified.
E-BULLION WARNING (JULY 2007)
Due to numerous unanswered complaints, the Global Digital Currencies Association would like consumers and merchants to be aware that E-bullion.com closes and/or freezes accounts without any court order or reasonable justification, sometimes freezing customer funds forever.
This unscrupulous policy makes E-bullion an unfavorable system for online commerce and for the safe and secure storage and transfer of funds.
We recommend that E-bullion account holders switch to a different digital currency immediately in order to avoid frozen accounts and loss of funds, such as:
GoldMoney - www.goldmoney.com
Pecunix - www.pecunix.com
Liberty Reserve - www.libertyreserve.com
c-gold - www.c-gold.com
PhoenixDollar - www.phoenixdollar.com
E-bullion.com is also listed with an F rating by the Council of Better Business Bureau, Inc., and have unanswered complaints going back as far as 2005.
Withdraw all your money from your e-bullion accounts!
Be as fast as possible! Because e-bullion is trying to get all the money in all the accounts.
Notice it is blocking or disabling all the accounts with high amounts of money! And when you call them, no matter which section you are calling, just one same LADY! answers you! Even the recorded sound on the answering machine is her voice! Isn’t it strange?? There is no team any more,there’s only one person who is a cheater!
I have called the office in LA several times, she just makes unusual excuses for keeping the account blocked!
I told her that I will send my documents, she said she couldn’t guarantee to open my account even after sending my documentations!!!
There is no one else to help. You won’t recieve answers to your emails and I can say there is no support any more!
I’m just wondering why should any one still be eager to work with this awful processor???!!
If this is really true, I don’t think money can be withdrawn that easily. Anyone can confirm this?
With my last post, I’ve been investigating how possible it is to build a business with a computer, globally. Products can be services - after all. In the ninetes, the idea of basing yourself anywhere and doing business online was born. Millions of people work this way now, without any formal office structure, comprising billions of dollars in trade. Articles on the boom of mothers working from home have been featured on the web and news this week, so I thought I’d look at some ways you can build this on-line working environment. Here’s a marketing opportunity on-line to look at setting up an account, it’s free and relatively simple.
Alibaba.com is the world’s largest B2B online marketplace, with more than 3 million buyers and sellers from over 200 countries across 39 industries.
So everyone is preparing themselves for the pinch of a recession in the U. S. call it what you will, mini recession, downturn, tempory lack of confidence, depression: the result is the same, for those paid in dollars in the US, those who travel and those who work online. Less money, when they convert it into the actual currency they live on. I prefer to be paid in Euros or Pounds if possible, for the work I do on line, however I often work in US dollars too. The companies who hire freelancers sometimes enable them to choose credits which have a value and are then paid out in the currency of choice. For example I have 50 credits and the value of each credit is 50 cents. I then can request it in pounds and the correct value will be calculated.
Many of my contacts bemoan the fact that their on-line consulting in design, photography or whatever, is also taking a downturn in value when paid for in dollars. Of course one man’s meat is another man’s poison, because somewhere in the world there’s a freelancer who can work online, deliver faster, get paid in US dollars and be happy because his currency is weaker than it. This is the true meaning of globalization, and then you consider maybe it isn’t always better living in the first world of Europe or US after all. Unless you are paid in Euros, and can live in a less valuable currency. Now that’s e currency I’m interested in.
(Digital Money World) It’s disheartening to have DDoS as a risk factor to a digital money business model. That’s what I think at least. Liberty Reserve’s Jeniffer updates us on DDoS solutions implemented with not really much details in their L-R blog,
We have more than one solution in place, and are trying to select the most efficient one. Please rest assured that Liberty Reserve is going to be back up very soon as all resources and all available man power is being utilized to make sure we have the safest and most reliable solution. Unfortunately decisions of this importance can not be made on a fly and without extensive research. We are looking for a permanent solution that will prevent all future outages related to DDOS attacks. This process is slow, but very rewarding at the end. On behalf of all of Liberty Reserve staff I would like to thank everyone for your kind words of support and your patience.
Please check this blog often for more updates.
That’s not what people really want. The website MUST be safe for people to do transactions at least and DDoS and loads of downtime is horrendous.
P.s If any L-R staffs are looking at this blog entry, go for PROLEXIC, end of story.
The fact that WebMoney (http://www.wmtransfer.com/) greatness has been so much discussed that I haven’t really had the chance to explore it. The last time that I tried, I had problems with WM’s Classic with my new Microsoft Vista. Now let’s get back in gear to register for a new account and test their services.
Registration
Registering is quite straight forward. I’ve tried registering with my own personal email but the registration code didn’t came in. 24 hours later, I’ve tried again with another email and it came in an instant. Fluke?
Two clients are available for your perusal, namely WM Keeper Classic or WM Keeper Light in two different languages (English and Russian). The main difference is that Classic installs in your personal computer and runs independently from your browser and Keeper Light runs exactly the opposite way. I’ll be using the Keeper Classic in this instance. The version that I’m installing at the point of this blog entry is 3.6.0.2.Read More
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