Would you wait two years?
By BunGirl
@BunGirl (2638)
United States
January 24, 2007 5:19pm CST
Recently someone sent me a link to a site where you can make money online. On the first impression, it signed like a pretty neat deal. When you sign up they hand you $50 to invest online through their program. You can also get $50 for every person you sign up. I am naturally skeptical about such things, so I went and read the terms before I signed up. (ALWAYS a good idea by the way) The catch is this: you can't withdraw any of this money for TWO YEARS. AND you have to remain active for that entire time. (that is to say you can't just hoard referral fees for two years and then get paid -- you have to be investing this money, which includes the possibility of losing it.)
Now, as investments go, two years isn't a long time. I understand that. But as ways to make money on the net go, that seems ridiculous! Why would I spend two years of my life working on something like that? In two years I could earn quite a bit more than $50 on various sites without risking a penny of my earnings.
What do you think? Would you sign up for such a site?
(By the way, I did NOT sign up -- I'm not looking for referrals here, just opinions.)
15 people like this
84 responses
@mythmoh (3984)
• United States
24 Jan 07
if we spend some time in mylot we can earn more.even including the interest of 50 dollars after two years.sure i wont opt for those sites.further we dont know what will happen after 2 years.There is a saying "a bird in hand is worth two in the bush".you have mentioned that there is a possibility for loosing also.so we may end up with 0 also.
3 people like this
@sankethadiga (1087)
• India
25 Jan 07
Yes. I completely agree with mythmoh's point of view, it's highly unrealistic. You wouldnt be wating yor time on such things, would you?
You can never quite be sure about the Stock markets and Investments in stocks market is a make or a break.
Good day to you, bye.
@Sissygrl (10912)
• Canada
25 Jan 07
I would not sign up for this deal. Two years is a long time for a website to last. and what if they dont make any money, then you and all the people you refured are SOL. but it doesn't say anywhere on your discussion if you have to invest your OWN money, If the only thing you stand to loose is the 50$ they give you then it couldnt really be bad. but i dont see how they would make ANY money at all if that was the case.
3 people like this
@seenoreen (559)
• Philippines
24 Jan 07
I think I would, however, I wouldn't expect too much. I think I know what site you are talking about. I might exert some effort to recruit other people but I wouldn't focus too much. I've experienced something similar to this before where they promised to pay a big amount of referral commissions prior to the launch of the site's service. What happened is that the service did not launch at all.
Then they sent me an email asking me if I still want to receive the referral commissions I was able to earn. I replied to the email and said yes but didn't expect anything to come. After a few days, I didn't hear anything from them and it's been 2 years already. If there's a deal that's too good to be true, most of the time it's not real. Just invest your time doing something else.
@gabs8513 (48686)
• United Kingdom
24 Jan 07
No I have to say that I would not sign up for a site like that either it is not safe on the Net in 2 years time anything can happen and this Site could just disappear and so would all your Hard earned money
I am glad you never signed up for it
@wesderby (178)
• United States
24 Jan 07
I don't think I'd join the site...However, if they don't require you to lay out ANY of your own cash, it might be worth a look...If i DID join, I don't know that I'd put a ton of effort in, not knowing what I'm going to get out of it. Somehow, I don't see them getting a lot of signups if people have to wait two years to be paid and have no assurances they WILL be paid.
2 people like this
@BunGirl (2638)
• United States
24 Jan 07
Oh, I'm sure they have plenty of sign-ups. They don't mention the two years thing on the front page. Maybe (benefit of the doubt) they mention it somewhere in the signup process, but I'd be surprised. Most people probably don't realize it until after they've been members for a while and they start wondering when their first payment is coming. This is why I ALWAYS read the terms for sites like this before I even consider signing up.
2 people like this
@wesderby (178)
• United States
25 Jan 07
Very smart on your part...I admit, because the terms and conditions on a lot of sites are pretty generic, I don't always remember to read them, but when it comes to a site that's going to pay me, or that I may have to give money to, I ALWAYS read them...I'm amazed how many people don't.
2 people like this
@magikrose (5429)
• United States
25 Jan 07
There is NO way I am going to wait to receieve my money. The point of working wanting wo work online is to earn money that you can get now like a normal job in a way. not 2yrs from now. I am glad you didnt join, caus I would have had to beat you. LOL just joking. Seriously glad to hear you ere sucked into it.
1 person likes this
@magikrose (5429)
• United States
25 Jan 07
Sorry typed too fast. glad to hear you wernt sucked into it.
1 person likes this
@BunGirl (2638)
• United States
25 Jan 07
I suspect that's what happens. These "investments" probably do really well for the first year and a half. That way they can keep people interested and people will keep sending referrals. My guess would be though that sometime before you hit payoff, your investments wind up in the tank and in the end you get pennies if anything.
@SimplyJo (1694)
• India
25 Jan 07
hi i was invitied to this site too. i did join but didn't refer anyone . it is indeed toooo long to wait for a payout on an online pay plan. i seriously think it is a bad scheme - but i 'm surprised i've received so many private messages and emails to join that very site - so i guess ppl ARE taking it seriously and are more patient than you and me !? :)
1 person likes this
@cheenlly (3477)
• Philippines
25 Jan 07
a friend who is in my list also sent me an inviatation like that. i read the terms and its like your depositing your money in the bank, its like a savings. its pretty nice but i cant afford to wait for two years without any security and without knowing the credibility of the site or is it for real. Im really sorry but i didnt sign up. And aside from that they only use paypal which is not available here.
2 people like this
@Bytemi (1553)
• United States
25 Jan 07
Honestly I don't have the stamnia to do something like that. Mylots is different because I get to make friends but to just invest actively for two years and risk losing everything, I am not sure if it is worth all that. It is an interesting concept though and for someone who does not bore easily I am sure it would be a good thing.
2 people like this
@ladymoonstone143 (1507)
• United States
25 Jan 07
No, I will never sign up with that kind of site. Anything could happen in 2 years. Incase that company folds up, where can I get my 50? I rather invest my 50 in something I can trust or rather do something that will pay me but I don't need to pay a single cent.
1 person likes this
@dunce002917 (226)
• United States
24 Jan 07
That sounds a little bit shady. They'll hold on to your money and ask you to invest in them? Sounds like a scam for me if you ask me. What do they make you do aside from referrals and investing (stocks?)?
@BunGirl (2638)
• United States
24 Jan 07
That's as far as I got... It's technically not "your money" until they pay you, so I guess some people don't mind them holding onto it. I just don't see the point in wasting all that effort on something that is likely to just go "poof" sometime in the next two years. I will be surprised if anyone ever actually gets paid by these guys.
1 person likes this
@iamiramadnama (421)
• Canada
25 Jan 07
I say.. meh. I don't like ANY gimick on the web that tells me that I will earn money for apparently doing nothing. (just to note - I'm not here because I think I will earn any money, I just signed up today because a friend of mine told me too) I wouldn't do anything on the internet that says I have to wait 2 years.. the internet and websites are so flighty that it might not even exist in 2 years time. So you never know.
@BunGirl (2638)
• United States
25 Jan 07
Well, I can tell you for certain that if you stick with myLot and continue to make quality posts, they WILL pay you. I know because I've been paid by them. Still, I completely know what you mean. I'm always skeptical about sites that say they'll pay.
@mansha (6298)
• India
25 Jan 07
People are doing the same thing with agloco. I signed up and I don't care, if it pays or not as I am niether going to invest time or money in it. lets see what will happent to my 50$ there. I just refered two people, they may or may not join but its okay. Site is not asking you to keep logging in or refering to people to earn. I read terms too. In two years time who knows where 50$ will go. Actually I have a seprate ID fopr such silly sites so I don't mind joining them, once its full of spam I will just close it.
@tams85 (30)
• Canada
25 Jan 07
With the way internet companies are popping up and dying off every day, I wouldn't trust this site. Furthermore, if no one is putting any money into it, they can't possibly make a profit, so how can they pay you? It's not a very good business plan if you ask me!
@coolpig08 (131)
• Philippines
25 Jan 07
I wouldn't sign up because it might just be a scam. You should search first the net regarding that site to know if they are legitimate or just scams before signing up. What is their reason for holding the money for two years?
1 person likes this
@cwilson26 (2735)
• United States
25 Jan 07
I have joined this site and have been checking my account and the $50 they deposited in has grown to $62 already. I haven't referred anyone because I'm not putting too much effort into it since I can't get paid until 2008 but I figured what the heck I didn't invest anything. I do have the link on my blog and I update my blog every time my account grows a little. What they claim they are going to do once they get the site all the way finished is put investing tools on the site to teach people how to invest online without risking your own money. And no it doesn't say anything about the payout until after you sign up. But I'm staying a member because since I didn't have to invest my own money I can afford to wait the 2 years for payout. I don't know if it is for real but I am curious to stick around and find out. :)
1 person likes this
@swapnshop (219)
• Canada
26 Jan 07
My suspicion is that before 2 years is up this company will go "bankrupt" and cash in on all the investments themselves.
1 person likes this
