Update: Richard O’Neill/Jo Cook has been replaced and new management has been appointed. However, we will no longer monitor Paidverts, regardless of these changes in the management. We moved Paidverts to the Not Recommended list when the first debt swap was performed and since then there have been multiple debt swaps performed and naturally Paidverts will remain on the Not Recommended list. Paidverts is a ponzi disguised as PTC and we do not endorse or promote such programs. The information provided in the review below is from the time when Richard O’Neill/Jo Cook was in charge of Paidverts. It will remain intact for information purposes only and will not be updated anymore. If you are already a member of Paidverts, do your own due diligence about the program.
Paidverts Old Review (no longer updated)
Update Jan 30, 2015: We have found solid proofs that “Jo Cook” the admin of Paidverts is in fact Richard O’Neill, an infamous admin responsible for a lot of past scam sites. People got scammed on sites he managed, he promised and guaranteed refunds for everyone but he failed to keep his promises. Too many past scam sites, lies, deceit and excuses from this admin. His history and involvement into past scam sites have been exposed on the biggest money making forums, and probably that is the reason why this time on MTV and Paidverts he is using a fake name – Joel William Cook or Jo Cook. The site that cares so much about transparency is managed by person with fictitious identity. We don’t endorse or promote sites run by past scammers, regardless if it pays and no matter how “awesome” it is. Paidverts will remain on the Not-Recommended list. Previously it was moved to the Not Recommended list due to forcibly converting BAP into shares. For more details and proofs refer to the Downsides section below.
Update Jan 05, 2015: Moved from the New Sites list to the Not Recommended list due to forcibly converting BAP into shares.
Downsides of Paidverts – Things to Pay Attention to:
Managed by Past Scammer – Paidverts is managed by Richard O’Neill, an infamous past scammer that operated a lot of past scam sites including Richy-Invest, Jp-daily, Investment96 (version 1, 2 and 3), Investproker, PokerByProxy, Mysterious-Profits, PokerProfits, SustainedReturns, GG-investments and probably others. Richard O’Neill is known for using the email address email@example.com and the nickname DevilsCook.
Does the photo below look familiar to you? Is this Jo Cook look-alike? I wouldn’t say so, this is a photo of Richard O’Neill.
Pay attention to the bottom part of the screenshot above (the photo with the parachute), the very same photo (just enlarged) “Jo Cook” have on his Faceboook profile.
Apparently Richard O’Neill loves parachuting, here is a video on his Youtube channel Devils Cook, you can notice that the parachute is the same as that one on the photo of Jo Cook’s Facebook profile.
Here is another screenshot taken from a forum where he says what is his real name (pay attention to the topic subject).
Still not convinced that “Jo Cook” is in fact the devils cook Richard O’Neill? Let’s take a look at his Photobucket profile http://s295.photobucket.com/user/devilscook96/library/?sort=3&page=1 particularly at the photo below.
That’s “Jo Cook” indeed. Why the devils cook Richard O’Neill is having a photo of “Jo Cook”? The answer is simple, because it is the same person. Take a look at some photos on Jo Cook’s Facebook profile you will see it is the same person. Update: Jo Cook’s Facebook profile was deactivated, Facebook asked for ID to confirm his identity, now his profile is activated again, this time he’s using his real full name Richard Matthew John O’Neill.
Debt Swap (Forcibly Converting BAP into MTV Shares) – On December 31st 2014 PaidVerts debt swap was performed. All your Bonus Ad Points (BAP) have been exchanged for cash shares at MyTrafficValue. Your BAP has been reset to 0, forcibly exchanged for MTV shares and now to receive your BAP back you will have to either sell your shares at a certain price (will have to wait for the price to rise at profitable level) or to buy new ad packs to receive new BAP. With this change basically they turned all members into forced MTV shareholders, brought Paidverts into BAP free state by resetting your BAP balance, and ‘forcing’ members to pour fresh money into the system to regain BAP back or to buy cheap shares and later to sell them at profitable levels. Although it is likely to make profit out of this debt swap (you will have to be patient and wait for the shares price to rise), I don’t really like the way the admin is forcing you to do things he wants you to do. Few days before the debt swap the Paidverts’ admin claimed that everything was doing well, boasted about 100% liquid state, claimed that there is enough money for everyone to cashout their balances. If Paidverts was so awesome then there is no need to wipe out the BAP debt to make Paidverts “awesome again”, as they claim, because according to the admin Paidverts was already “awesome”. There is nothing awesome in suddenly resetting balances and forcing people to do what the admin wants they to do. He says just sell your shares at the right price and you will get back where you were before the debt swap. You will have to be patient and wait for the share price to rise at profitable levels and until that happens, those that will sell their shares will obviously lose. Take note that there is transfer fee when you sell shares which goes back to the site or to admin’s pockets. Members worked hard to earn BAP in order to reach certain BAP groups and now they have to start over again. The way I see it, this debt swap was performed only to pour fresh money into the system, because after converting the BAP to shares members have two options to regain their BAP back, either sell their shares at profitable levels (someone have to buy those shares) or buy new ad packs to receive new BAP. That’s why now members are receiving higher daily paid ads (compared to the period before the debt swap). People are buying bulk ad packs (gives them BAP in return) with a purpose to climb up to higher BAP groups in order to receive higher daily paid ads. And when everything gets “back to normal” I guess there will be another debt swap to make Paidverts “awesome again”. To sum up, with this dept swap, those members that will sell their shares shortly after the debt swap will lose, the ones that will play smart and wait for the price to rise will make profits and without doubt the one that will benefit the most out of the debt swap is the admin himself as he earns commissions from all unreferred members who are now building up their lost BAP by purchasing bulk ads.
Poor Support System – Lately there are delays in responses to support tickets, I came across various complaints regarding unanswered support tickets. I have also send a support ticket and it took 30 days to get an answer. The site is getting bigger as more and more users join day by day and I guess they are overwhelmed with support tickets. I understand that there are “needless” support tickets that could have been answered by searching the site FAQs and TOS, however there are also important issues that needs to be promptly resolved, things like pending deposits, advertisements approvals, login issues, withdrawals processed but not received etc. One thing is for sure, responsive support system is important for any site as it is the only contact (despite the forum) a member has with the site and members are vital to a PTC site. When members have an important issue or question, they expect the customer support department to resolve their issues. Recently they hired additional customer support staff and they are slowly catching up with tickets.
- Changes and Updates
- January 30, 2015 – Published proofs that Jo Cook has been using fictitious name, his real name is Richard O’Neill and he is responsible for a lot of past scam sites.
- January 05, 2015 – Moved from the New Sites list to the Not Recommended list due to forcibly converting BAP into shares.
- November 8, 2014 – New Downside added to the review – Poor support system.
- October 15, 2014 – Cheap Traffic Ads introduced.
- July 31, 2014 – Changes to the BAP ads settings, BAP tax has been increased, account milestones have been removed.
- June 30, 2014 – The minimum Paypal cashout has been reduced from $5.00 to $2.00.
- June 25, 2014 – Review completed, site added to the New Sites List.
Note: Please refrain from posting links/promoting Paidverts into your comments, linking to sites placed on the Not-Recommended list is not allowed.