Is Profit ly A Scam?
Yesterday, I posted a review of Profit.ly. If you are unfamiliar with Profit.ly, then please read the post that contains information on how I gamed the Profit.ly trade verification system with the intention of becoming the worlds worst trader. In a very short period of time, I was able to create fake account statements and then upload the statements into Profit.ly that showed that I had lost $650,000,000. This loss officially crowned me as the worst “verified” trader on Profit.ly. Since everyone on Profit.ly is trying to be the most impressive trader, achieving my goal was relatively easy.
However the real goal was not to show that I was the worlds worst “100% verified” trader on Profit.ly. The goal was to show that anyone, in only a few minutes could creatively game the Profit.ly verification system. And in addition, expose Profit.ly for what it really and truly is…a marketing platform to sell useless membership subscriptions and educational DVD’s to naive investors.
One Day After My Post
Today, I received a clever email from a high school kid in upstate New York. He prefers to go by the name Young Jeezy. I have no idea what a Jeezy actually is. Anyway, he also notified me that he had also easily gamed the Profit.ly system with the sole purpose of showing himself as a millionaire trader. His motivation was to show “big money” trading, and that the trade results would be used as link bait for affiliate marketing. The idea was that if a high school kid could become a trading millionaire buy purchasing Profit.ly products, then anyone could. The hustle was to use his story as link bait that people would click on, and then once clicked on, a tracking cookie would activate and any purchases made a Profit.ly would earn him a commission of sales.
Executing The Scam
Young Jeezy then explained to me how he created his millionaire trader persona, complete with fake trades showing massive profits…all he did was create demo accounts with the intention of uploading fake trades into Profit.ly. How? Create TWO demo accounts at any of the 30+ brokers listed on Profit.ly. Once the dual accounts were created, next you buy 10,000 shares of a popular stock in demo account A, and then sell 10,000 shares in demo account B. The net effect is that one of the two accounts will always show a winner. Everyday, simply upload into Profit.ly only the results from the demo account with the winning trade. After a short period of time, you can now show a Profit.ly equity curve that looks fantastic. Everyone once in awhile, he explained that he would pepper in a losing trade to make it look believable.
Next Create Webpages and Video Testamonials
After he created the “verified” track record, he then created several websites touting his success. He also created several You Tube video testimonials. Young Jeezy refused to give me the web addresses and video testimonials, but he did send me a long list of websites of others pulling the same hustle, and others that had also created fake video testimonials. Example below:
If you watch this video, its pretty laughable. Of course, I don’t expect you to believe me, simply go to You Tube and search the names of gurus on Profit.ly that are selling DVD’s and advisories. Also, the internet is lliterallyclogged up with people attempting to earn a quick buck with this exact same testimonial hustle.
I asked Young Jeezy why he decided to contact me and tell me about the scam. He explained that initially he was earning about $1500 a month for several straight months but slowly the amount tricked down to nearly nothing. The typical life cycle of a Profit.ly newsletter is only 30 days, and the target might purchase an educational DVD. But nobody would subscribe for more than 60 days. Sometimes they would purchase a Tim Sykes subscription, then another guru, then another, but in the end they would end of cancelling.
In addition to the income drying up, friends and family became aware of the web videos and became concerned that he was committing fraud. He thought about using a fake name and paying for fake reviews from professional reviewers on fiverr. But in the end, he decided to go back to college and finish his education.
Well that’s it for today. Thanks for reading. I understand that when Tim Sykes and the rest of the gurus and affiliate marketers read this post and all of its raw negativity, they will how with anger and attack me. Truthfully, it is easier to just keep my mouth shut and let stupid people just keep being stupid, but just a little part of me say’s “fuck it”. Please leave your comments below. Speak freely, speak liberally.