picard

...and you know this for a fact how?...

Truth is, you can no more prove they are not generating profits from their business activities than we can prove that they are. Those are the facts pure and simple.

Bash the program, bash Greg, bash whatever as you are entitled to your opinion. Just don't try to tell us it's "fact" because it's not.

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picard

The quality of a website means nothing about the program. The website is the website, the program is the program.

EBL used a goldcoder script for almost a year and half because they were too small to create their own script. Now they are redoing their site. They made the right decision for their business based on it's size.

There are plenty of scams that had great websites as well as plenty of legitimate business (investing and otherwise) that have awful websites.

Why the heck does Legisi need a fancy website? They do all their deposits and withdrawals manually and the site has as much functionality as it needs. Sure it ain't pretty, but it works fine. I can think of plenty of features I'd LIKE to have, but besides the fact that they should have more questions to prevent script access, they don't NEED anything more then what they've.

The longer this thing keeps paying, more silly you guys look bashing this thing.

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mbongwe

Picard, I did not mean that the website should be fancy at all. My question is why people believe everything just because there is a website who says it. Why they believe that just because a company is registered, it makes the profits it claims to.

In the HYIP business everything which is not proven, is scam. If you have not learn that for the last few years, I am sorry about you.

"The longer this thing keeps paying, more silly you guys look bashing this thing."

People told me I looked silly when I was warning about FXIG, FeederFund, Udachu, MPDW, IT4US, KUM and many many more, because they were paying. See where are all these great programs with great DD now.

The days when I was going to long forum discussions to explain why you can't prove a HYIP is scam before is stops paying and why everything is scam unless proven otherwise are gone. When you see my warning, take it or leave it, it's up to you. I am not going to beat the same horse again and again.

But the things like "I've met the admin", "They are registered company", "There is great DD" have been seen many times before and never helped. Been there, done that.

When something does not make business sense, it's a scam no matter how good DD is there on it or how long it pays. Ask youself if Legisi offer makes business sense to you.

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Traderj

I do agree with you and I have stated much of what you are saying to other people about various things investment related programs.

often times the things that have the most public DD and claims of known and fair admins turn out to be the best scams as they simply have enough sheep willing to believe them or worse not willing to accept they themselves could possibly have been scammed.

OTOH I know of a few very private programs that people will never ever find, they are legit, prove with documents that show a sound business model and real life information.... sadly most people will never find programs like these as they are too busy looking to get rich...

I am NOT a LEGISI basher at all, I was a member there for a while, but it doesn't take long to do the math on their stated capital balances and see how amazing the returns will have to be in order for that business to continue to return the type of profits that they are claiming to me... or are in fact paying out right now....

The above statement is one of the best I've ever read on a forum.. thank you. Bottom line if it does NOT make sense it will sooner or later be proven to be a scam... or it will fail if the business model being used won't hold up over time.

I, as stated am not saying LEGISI is or isn't scam, I frankly don't care. I do know that if whatever model they are using for their business won't hold up they will fail, whether it is/was a scam or not really won't matter if they stop paying... and all the interviews and past payments and belief in the world won't change that.

Blondie

What makes EBL any different than Legisi? Legisi is the first program that I risked money in, almost one year ago. Then I started diversifying into others that were highly recommended all over the internet and all are gone except for Legisi and a very private one. After reading about EBL here and other places I decided to withdraw a chunk of interest from Legisi and put it there. But my question is, does EBL's numbers work out and if so, why? And why can't Legisi continue to pay 6%/month?

Bev

4ebl

I too am in both programs. There is no definite reason why Legisi could not continue to pay 6% other than poor management of his business model. His model is quite sound; the returns he generates in his business are sustainable, barring unforeseen circumstances, so that he should be able to continue paying out the interest and principle owing on loans he has taken out from his members indefinitely.

I can't say if EBL's numbers are sustainable. Legisi's numbers were not sustainable for the very long run, though they succeeded for about a year and a half. But Legisi's 6% is quite sustainable. Only time will tell if EBL can sustain their numbers for the long term. Whether they can or not, I believe their model is also quite sound, though it may require adjusting their interest payout down the road. Only time will tell.

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Traderj

Blondie, I will admit freely I don't know that much about EBL, I have joined but as yet not loaned any money, in part due to being too busy and in part due to the changed taking place on the site etc.... I will do my best to explain to you the differences "I SEE" that is all it is, my opinion and like, well you know what everyone has one..so take it for what it's worth.

LEGISI was by no means my first program to be involved in, and I can state that for the entire time I was involved I was always paid promptly and never had a single complaint about things. But it seemed time to me to move on when the whole going private thing started.

I am in a couple and actually involved in a very private program, unlike LEGISI which were red flags for me at the time, there are no referral earnings, there is no relying on Egold or any other Ecurrency, this one has always bothered me, if you are a legit business why don't you have a registered company with bank account that money can be wired too... that is the biggest red flag to me of any online investment... generally the answer is that the business model is such that NO legit bank would allow them to open and account... again not saying this is the case with LEGISI simply that is the usual reason why a program doesn't have the bank account option..as most are scams the paper trail of a legit bank account is not one they wish to have.

My understanding is and please anyone feel free to correct if I'm wrong as stated I have not spent much time learning the EBL model. But I recall they are offering 20% over four months which works out to 5% per month, slightly less than the 6% that LEGISI is currently offering. I don't think it is now a question of numbers... as EBL is pretty new and doesn't have as large a capital base to earn it's return on.

Assume that LEGISI has a capital base of 80 million, as it did close to when I bailed... 6% on 80 million is A LOT harder to return each month than 5% is on 1 million, if EBL has that much, again I don't know... but the simple fact of the matter is that people feel more comfort with EBL due to the loan contract and the DD done by the IRA firm it just makes it "FEEL" more real. Not that it in fact makes it more real but really we are talking about online investments so often "feel" is the only thing we can go on.

I know much has been made about LEGISI's lack of info on how they make their money, it's a very broad statement about financial this or that... which again makes people a little nervous. Yet when I read the EBL site they basically say we make it how we make it...

I guess what it all boils down to is perception... LEGISI appears to be a secret that nobody else can join now and nobody has a clue how they make money and Greg has his wacky can't use the word investment rule like somehow that makes a difference and EBL on the other hands seems to be as open and upfront as they come... add to that the ability or difficulty to earn 6% on 80+ million a month and it just looks more and more like LEGISI is nearing its end...

The beauty about all of this is that LEGISI could in fact continue on for another five years.. who really knows how it all works behind the curtain.

I can tell you for a fact that earning under 10% a month while trading is not hard at all for high powered hedge fund traders... so the returns really aren't the issue. They sure were when LEGISI was paying 15% or 12.5% a month but not at 6%.

So I know I've not really answered your question but I find the whole thing a very interesting study in human nature and how two business that seem to operate with very close models are in fact seen in an entirely different light..

Good question BTW

mbongwe

Excellent post again, Traderj.

I am not in EBL and know too little about them to compare. I want to comment only on the following:

No one questions why they suddenly lowered the ROI with more than 50% and why it happened at the same time when they went private? (I am sure there is official version, I am not asking about it).

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homemoneyman

This is a temporary 120 day loan with the option to withdraw half the interest after 60 days. For deposits from $100 to $500, 20% interest can be withdrawn after 60 days, with 40% total interest paid over 120 days. For deposits from $501 to $1,000, the rates are 22.5% and 45%, and for deposits from $1,001 to $10,000, the rates are 25% and 50%. So they are offering interest significantly higher than Legisi.

Rico

Blondie

Thank you TraderJ for answering my questions about Legisi and EBL. You don't know how much I appreciate getting answers here that aren't laced with sarcasm or negative comments. I know I'm still a relative newcomer to this scene but I sure have learned a lot in the past year and the more I learn the more I crave. When my initial VIP loan with Legisi comes due next month I plan to take it out and put it somewhere else but I have no idea where at this point. I will be doing much research in the coming weeks. I'll be watching this forum and others closely.

Bev