Latest update from 4daily forum We have been very busy brainstorming and considering all of your suggestions about getting 4Daily.com back up to full steam as quickly as possible.
Although we are growing steadily, it is not fast enough. You know that we have a large backlog of payouts to make and we are trying to find ways to bring that under control so that we can move on.
Our percentage idea last month did not work because the demand for funds was way too high.
There is no doubt that uncertainty about payouts is continuing to hold us back.
So, I would like your opinion on the following ideas before we implement them.
1. For the time being, we have stopped allowing upgrades from earnings. I consider them to be the same as taking a payout and paying it back in, but we have stopped them for a month or so while we test the effect.
2. We have also stopped members from upgrading their referrals. This will remain as a permanent change.
3. We have had many suggestions to stop giving free upgrades to new members. Instead, free member earnings will no longer be paid out in cash. They can be used to purchase credits or banner ads only. Free members can overcome this by buying a $4 upgrade from their own funds.
4. The payouts in October 15 will be made only to members who have not yet earned their money back. All members who are in profit by payout day will not receive a payout this month. This means that all recent members and those still in a loss, WILL receive a payment if they have $8 or more in their Cash Balance. Some members will get just enough to put them into profit.
5. Even so, our available funds will probably not cover the full demand this month. We will apply a "cap", depending on the final position on payout day. It currently looks like the maximum payout will be around $200.
Regarding point 4, you are in profit:
(a) if the total of the cash payouts you have taken
(b) plus the total of the earnings you have spent on upgrading your account or referrals (which you theoretically could have taken)
(c) is greater than the total amount of cash that you have paid in from outside funds.
We are not including current cash balances in the "profit".
Depending on the way these moves affect growth, we may need to repeat something like this next month. The aim is to get all members into a profit position as quickly as possible.
Hm, how's the calculation ?
I've been paid $21.51 and I use about $650 to upgrade from my cash balance.
My cash balance is $1054, so I still can be paid this month.
because 21.51 + 650 < 1054
Paying out only to members not in profit yet is surely a forerunner to “Sorry guys we have to close” once everyone has had their total stake effectively refunded.
I think that they should bite the bullet and reduce the daily interest level and extend the time accordingly. Such as - 1% per day for 200 days. 1.5% per day for 134 days. 2% per day for 100 days.
Alternatively they should make the forthcoming payout as planned, close 4Daily and re-open it as 1Daily, paying 1% per day for 200 days. Then take all members’ unpaid earnings and place them into 1Daily as an upgrade for that amount in multiples of $10. Any balance to become current earnings. Members with more than one account should have their TOTAL unpaid monies as an upgrade in 1Daily. Future payouts at $10 or more.
After read several pages I think our investment must be higher than amount of earning we use to upgrade + amount have been paid to us. in order to qualify to cashout this month.
:evil: I am not qulified then..
Latest update : At midnight on Monday Oct 10 the 4Daily.com site will be taken offline for 24 hours while we reset parts of the database. All accounts and sites will be preserved. All credits, banner orders and referrals will be preserved. All current (unexpired) upgrades PAID WITH OUTSIDE FUNDS will be preserved. The earnings of those upgrades will be reset to zero and the START DATE will be reset to Wednesday Oct 12. All other transactions and history will be reset. All support tickets and forum posts will be deleted, ready to start again. We will not be able to respond to questions about the "old" accounts.
We have agonized long and hard about how to pay or carry forward the "loss" position that some members are in. As you can see from the figures above, it would be a mill-stone that could prevent us from gaining ground again. Unfortunately, Cash Balances will have to be reset to zero to give everyone a chance to earn again.
So we will be restarting on Oct 12 from a zero base with a clean slate and some new rules. All unexpired PAID upgrades will start again. The current funds we have will be held in reserve for payouts commencing from November. Otherwise, we could still have payout issues in November.
If you have a need for credits or surfbar banners, you can use your cash now to buy them before the site goes offline. Prices of credits and banner ads will be doubled soon, so now is a good time to stock up. You cannot use your cash for upgrades. Only upgrades paid from outside will be preserved.
We will issue every account with a free $4 starting bonus and 40 credits, as though you just joined. If you have paid for an upgrade in the past, your account will retain "paid" account benefits. Your status will not be set to "free", even if you have no current paid upgrades.
Here is a summary of the new rules, which will appear in our Terms:
1. Free accounts will receive a free $4 bonus upgrade and 40 credits for joining. You can earn money with the upgrade and spend your earnings on advertising credits and banners. You cannot compound or take your earnings out in cash unless you first buy at least one $4 upgrade with your own cash.
2. Earnings for surfing will remain at 4% per day for viewing 40 (or up to 80) sites, but for 30 DAYS instead of 50 days. That means that you can earn 120% (20% profit) in 30 days instead of 200% (100% profit) in 50 days. Please remove all references to "50 days" and "double your money" from your advertising. You can still earn up to $400 a day with a maxed $10,000 account. Note that the existing current upgrades will also have a life of 30 days, from Oct 12.
3. Credits earned for surfing will be halved to 1 for each 2 sites viewed (1:2). You will continue to get 4% of your first referral level credits and 1% of your second level. We do not provide credits for displaying your referral page because of the junk traffic that is generated.
4. Referral commission will remain at 4% of upgrades paid with external funds, first level only.
5. You cannot upgrade your referral accounts from your Cash Balance. We want all new members to spend their own money to upgrade.
6. You may upgrade your own account with your Cash Balance (compounding) with no fees, for any amount, at any time, but only ONCE PER MONTH. You can upgrade with outside funds anytime for any amount up to our maximum level of $10,000.
7. Payouts will continue to be processed on about the 15th of each month. There will be no payout on October 15 because everything will be reset. Upgrades will expire after 30 days, so payouts will be available on or about November 15.
8. To be eligible for payout, you must have at least $40 in your Cash Balance and at least $4 in your member level. We will only pay to accounts that have one or more CURRENT upgrades.
9. A fee of 4% will be deducted from cash payouts to recover processing costs. This fee will not apply to upgrades from earnings.
Let me see if I am reading this latest edict correctly.
All unexpired new cash upgrades will start again on 12th Oct and last for 30 days. All data relating to an account will be re-set – meaning the data will be deleted. Bang goes my ‘Cash Balance’ although I can use it to buy ad credits and banners today. The prices double soon.
Only ‘new’ cash upgraded member will be able to withdraw if their Cash Balance is over $40 and an upgrade is current. This ensures that the ‘small’ ‘investor’ (less than $36) will never be eligible for payment and increases the chances of larger ‘investors’ getting paid. Small investors are less likely to create a major fuss and complain to the FBI. Wrong thinking Jim Hunt!
Payouts on or about the 15th of a month, presumably at the level of the Cash Balance at the end of the previous month not as it is on the 15th.
I know that some of you will be hurt by this plan and lose real and "virtual" money. But anything is better than the alternative of closing down. At least you will have another chance to get into profit.
It will be like having a new account in a new site with proven rules, and an admin who is determined to make it work. As always, I am here to do the best I can and I am not interested in running with your money. Remember that I do not have the dollars you lost - the many thousand of members who took profits have them. I am glad that so many have made money and I am sorry about those who have not. The best I can do is provide you with another chance to try again, if you want it.
It is time to sit back and wait to see what develops. If this new 4Daily becomes a reality then it will be time to inform all the payment processors that Jim Hunt deals with that he is in effect robbing the 4Daily members of some $9,000,000. The FBI could also be interested.
I would just remind the reader that Fred Srock and his wife are languishing in jail for scamming a lesser amount.
I have been paid a few times by 4daily but I have now deleted my account. I had $8 upgaded and was surfing and was due somewhere around $30 when they expired. After the revamp I am now at $4 with nothing else in account and have to get up to $40 to withdraw, so I pulled the pin. What he has done tells me it is a ponzi or just badly run and will no doubt have troubles again one day. I wonder how many others will leave too?