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FIB - Scams 101 - Ye Olde Archives
Posted By: Dave Mauder (eDave) <dave@NOSPAMmauder.com> In Response To: Poking out my own eyeballs!! (MaaMaw)
Saturday, 22 January 2005, at 8:50 p.m.
There you are MaaMaw! I've been wondering why you haven't responded to my emails, and you've been over here the whole time chatting it up! I guess if I'd been visiting the board like I should, and not poking MY eyeballs out with the website facelift, I would have talked to you sooner. :-)
Anyhoo... I can't remember if I told you this during our email exchanges, but for at least the first 2-3 weeks of my eccurency trading 'career', I only did pre-pay (P4) trades with other merchants. Today, since DXGold is closed to new merchants until the new system is released, I guess P4 trades is all you can do.
The P4 process is basically this:
1. You go to http://www.dxprepay.com or http://www.request.dxprepay.com and you request a P4 transaction. Let's say you have $100 egold to use...you put in your request, telling all the merchants what you have. One of them will jump on it like a fly on crap (usually within a few seconds, sometimes minutes, VERY rarely days).
2. They will generate a pre-payment to your DXGold account for 105% of the amount you invested. Or 107% for investments of $1000 or more.
3. You go to your DXGold account and "claim" the $105, but it's not actually released to you until...
4. You transfer the agreed upon eCurrency ($100 egold in this case) to the merchants egold account.
5. The merchant releases the funds to you which goes into your DXG available balance. You just made 5% on your money in a few minutes.
6. You can then transfer (OutXchange) the funds from your DXGold account into the ecurrency of your choice and do it all again. OutX's cost you 2.85% and can take a few days, but I've been getting $250+ OutX's processed in under 6 days.
Since the OutX costs you money, your net gain is around 2.15%. But hey, where can you make that on your money, over and over again, every few days??
So, you can do P4's until you're blue in the face, and it will get you comfortable with processing basic transactions.
Let me know if that helped anyone...
Dave
> I got as far as funding my portfolio and buying digot-doohinkies in 3
> companies -- and now I'm not quite sure what comes next. I *think* I'm
> waiting to be "debit qualified" or something -- which I *think*
> will happen after one more cycle.
> I got in for two reasons:
> I think it will be *great* fun...
> and by putting in just a tiny bit of money (a whopping $35), I have
> nothing to lose, but if I keep reinvesting every penny, taking out
> nothing, I hope eventually to have enough in there to create a steady
> mortgage payment every month without the ups and downs I've experienced
> with my internet sales. (I'm okay with it taking two or three years, as
> long as I see it creeping up).
Over Here, Your Money Matters!
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