Is this a scam?

[cjay]

Woops sorry about that. It was a very agressive sales environment. However, it is a past life now. When we started it was me on the phone as well. I may as well say sorry to anyone ells that had the dreaded sales calls. So sorry to all.

 

[WakingDragon]

Woops sorry about that. It was a very agressive sales environment. However, it is a past life now. When we started it was me on the phone as well. I may as well say sorry to anyone ells that had the dreaded sales calls. So sorry to all.

you're forgiven

 

[cjay]

Thank you, your name sounds a little intimidating and I am glad to have received your forgiveness. I think you have convinced our mate with the dodgy exchange concept that he is indeed involved in something a tad pointless. I wonder how much dosh he has actually made.

 

[Dynamic-Xchange]

I think you have convinced our mate with the dodgy exchange concept that he is indeed involved in something a tad pointless. I wonder how much dosh he has actually made.

How'd you figure out he has convinced me. I have been doing it for two years and have built up a $400,000+ DXPortfolio and have almost $28,000 in my DXAccount to take to my bank account when I so wish, so I make more than enough dosh thanks. I need no convincing and didn't even mention my site to you lot, I was just answering a Google Adsense question. Whether you take the time to understand and educate yourselves about this business or not is of no concern to me.

 

[daveashton]

Well I must say, this has amused me.

Before going into any business venture I tend to spend more than a few minutes and some of the comments where shocking

If you can not explain how you make money in two sentences it must be a scam?

So anyone who is bad at selling and creating elevator pitches are scamming?

Yeeks


But even better “I spoke to a few mates!”

The 4 and 5% charges you mention are far to high to be viable. Bottom line is why trade? there is no point unless you are scamming someone els.

What a load of tosh. People pay on convenience and credibility and not price. When you know what every persons buying criteria in the world is please let me know.

has anyone got any actual poof? or are you doing the classic assume i.e. it makes an ass out of you and me!

Good luck with the business, if it starts to fly and make you real money, please come back and brag about it. I feel people are having a go without looking deep enough and without any real proof which is sad.

The sad think is, is that I did the same 8 years ago when looking at a franchise. Like the others on here I took a quick look, asked a few mates and said no.

Looking back I feel v stupid, but hay it will not happen again.

 

[WakingDragon]

So why, if it is possible to earn so much money, is your site geared around trying to get other people to do the job? Why don't you set up a business doing this? You could pay a member of staff $200 an hour and keep $800 per hour profit.

If this wasn't a scam you would be building up your business to reap the profits. Instead you keep stating these ridiculous figures to us like we really should believe them.

Been working 2 years...
- have trained 200 people
- have a portfolio of $400K
- have $28K in "cash" in the bank

Sounds very successful! But you're still building your own web site and not employing anyone.

 

[cjay]

Hi Dave,

My comments on the percentages are founded on my past experience of running a dot com business in 15 countries. We dealt in currency every week. Indeed the business had 2 million dollars in debt finance from one of our shareholders and we had to hedge that liability on a daily basis. You would not pay 5% to borrow the money never mind trade money that is yours.

 

[Dynamic-Xchange]

Well I must say, this has amused me.

Before going into any business venture I tend to spend more than a few minutes and some of the comments where shocking

If you can not explain how you make money in two sentences it must be a scam?

So anyone who is bad at selling and creating elevator pitches are scamming?

Yeeks


But even better “I spoke to a few mates!”

The 4 and 5% charges you mention are far to high to be viable. Bottom line is why trade? there is no point unless you are scamming someone els.

What a load of tosh. People pay on convenience and credibility and not price. When you know what every persons buying criteria in the world is please let me know.

has anyone got any actual poof? or are you doing the classic assume i.e. it makes an ass out of you and me!

Good luck with the business, if it starts to fly and make you real money, please come back and brag about it. I feel people are having a go without looking deep enough and without any real proof which is sad.

The sad think is, is that I did the same 8 years ago when looking at a franchise. Like the others on here I took a quick look, asked a few mates and said no.

Looking back I feel v stupid, but hay it will not happen again.

Thanks for your post Dave. I'm use to these sort of responses, people come across anything new that they have never heard of and then just assume because they or their mate have never heard of it it must be a scam. Makes me laugh how many uneducated comments are made off the back of almost zero research.

 

[daveashton]

So that tells you what people will buy in the future?

If so you must be worth billions. All you have is a gut feel based on your experience and though this is web related it is in a different area.

He has checked this area out for many many hours/ day s years and looked at the growing trend and said yes, that is worth ago.

When we have done the same amount of research our opinions will be worth a lot more!

Until then would it really hurt to give the guy a break and possibly even some help?

 

[daveashton]

Waking Dragon

Please

Give it a rest or prove it.

 

[Dynamic-Xchange]

So why, if it is possible to earn so much money, is your site geared around trying to get other people to do the job? Why don't you set up a business doing this? You could pay a member of staff $200 an hour and keep $800 per hour profit.

If this wasn't a scam you would be building up your business to reap the profits. Instead you keep stating these ridiculous figures to us like we really should believe them.

Been working 2 years...
- have trained 200 people
- have a portfolio of $400K
- have $28K in "cash" in the bank

Sounds very successful! But you're still building your own web site and not employing anyone.

I already explained why my site is presented that way. The more DXMerchants there are to facilitate and process the Xchanges that enter the DXSystem, the more fluid and efficient the system becomes and more Xchanges, and thus business clients can be catered for. It is that simple.

A lot of people are in the process of doing what you have just mentioned and setting up DXGlobal Companies so they can have operators processing the Xchanges for them with their trading funds. I'm looking into this but am quiet content doing it myself at this moment in time and don't see the need to complicate things by adding payrolls and staff into the equation. Maybe something for the coming years perhaps.

Where did I say I wasn't building up my business to reap the profits. I am constantly increasing my DXPortfolio and thus my liquid trading funds everyday so surely that would constitute building up my business. Those figures are only ridiculous because most people can't comprehend earning an amount two or three times what they currenctly earn. I think what Premiership footballers earn is riduculous but that doesn't mean I should just dismiss it as nonesense.

The person who trained me has trained thousands of DXMerchants in the time he's been involved in DXInOne and is one of the top names in the business. As this area is fairly new there are only a few big name players and everyone tend to gravitate towards them for advice and guidance, thus there are only a handful of trainers such as myself who help the newbies.

 

[Dynamic-Xchange]

He has checked this area out for many many hours/ day s years and looked at the growing trend and said yes, that is worth ago.

When we have done the same amount of research our opinions will be worth a lot more!

I actually started learning this business three years ago but I decided to take my time and look into it further, speak to a few people who had been doing it for a while and then I took it up and have never looked back. Since I have been a DXMerchant DXInOne has grown and improved massively and the full suite of DXServices they have been developing over the last three years are amost all released. Before people make anymore uneducated comments why not sign up for a free account and take a look at the DXSystem, maybe read some of the tutorials for more information so you atleast have some sort of clue to back up what you say as I fear the vast majority haven't even got a firm understanding of e-Currency let alone the DXSystem and DXMerchant side of this business.

http://www.dxinone.vu

 

[cjay]

The facts here are plain to see.

There is no requirement to trade any kind of e-cash.

If there was a 5% charge to do so would make it pointless. Many businesses have a net margin of only 5%.

My current business is based in Gibraltar, we trade in Sterling but can accept payments in many currencies via credit cards. There is no charge to us for accepting payment from a dollar based credit card for example. We just get the Sterling amount we charged on the site.

Dave you are making your observations with no research or knowledge of the subject. I am making mine against a real knowledge of multi currency trading.

Anyway there appears to 3 out 9 people here who think this is a good opportunity and they a free to give it a go. Good luck to them. The people who don't have made their contribution, which of course can be ignored.

 

[webit]

Removed for my own good sense!

 

[Dynamic-Xchange]

There is no requirement to trade any kind of e-cash.

There is a massive requirement to move between different types of e-Currency but that is not the main aspect of this DXSystem and it is free for businesses or individuals to InXchange their funds into the DXSystem in order to pay for the various services on offer. You should do a bit of research about the popularity of e-Gold, e-Bullion and NetPay and you will notice that millions of people use them daily to purchase various products around the globe. The neccessity occurs when one individual has funds held in one type but the product they wish to purchase is held in another type, therefore a swap over exchange is required, similar to that of when you need to change one type for another when going on holiday and paying a commission.

However, this is not the service businesses use within the DXSystem. They tend to use adsXposed, the DXGPC and the DXGlobal Company set up, you might do well to read some of the tutorials and info provided at the site

 

[Dynamic-Xchange]

My current business is based in Gibraltar, we trade in Sterling but can accept payments in many currencies via credit cards. There is no charge to us for accepting payment from a dollar based credit card for example. We just get the Sterling amount we charged on the site.

DXInOne is no different, they have the DXGPC through which businesses can collect payments free of charge.

 

[daveashton]

cjay

If you can really tell if a business will work and if people will pay for a service you would be a billionaire over night and would be the worlds best investor.

If this is not the case why not just wish the man good luck and leave him alone?

PS People use the net for many different things and even in similar areas you get specialist i.e. just because we spend a lot on PPC does not make me an affiliate guru. Both are advertising, both are web based, both require different skills and 5 years knowledge in 1 area doe not make me an expert in another.

PPS good luck with yours and I hope that everyone does no say your venture will not work because that is never good for business.

PPPS On the forum we try to help people and be positive not tell them they have no chance.

 

[Dynamic-Xchange]

Thanks Dave. It has been working for 6 years so I guess the proof is in the pudding and maybe if some people do a little more research in this area they could maybe contribute to the coversation with an educated opinion. Keep your ears open for DXInOne in the next few years and maybe I can come back here and say I told you so.

 

[Cornish Steve]

Given the contention evident in this debate, I thought I'd spend a little time looking into the issue. Of course, 30 minutes of study can be nothing other than superficial, but a number of questions do come to mind.

1) Why is the company registered in Vanuatu? Most people have probably never heard of the place; it's hardly a world centre for commerce. Why is the company not based in the UK, or Europe, or the US?

2) The whole area of financial transactions is highly regulated. This makes me nervous because I'm sure the company must be subject to currency regulations. How is this addressed?

3) When describing benefits to the end user, the website emphasises no transaction fees, etc. When encouraging individuals to work for the company, the examples claim that 10 percent can be made per transaction. These and other inconsistencies cast suspicion on the business model.

4) The website doesn't help itself. There are so many statements about this not being a GRQ scheme, yet I can make my fortune by working an hour a day (i.e., this is a GRQ scheme!).

5) I'm not sure why you are publicising the company at this forum. Maybe you're just altruistic or just passionate about the idea. It's not clear to me.

I don't doubt that many people have made money from this program, although I suspect the annual income numbers are in the thousands of pounds and not the hundreds of thousands. It's very ambitious to try to outdo all other methods of currency exchange and to become a de facto standard. Personally, I suspect that regulation will kill it first, but every entrepreneur must have his/her dream.

If it's legal and if you're earning a living wage, good luck to you. My recommendation would be to create a more professional website - without the outrageous claims and the spelling/grammatical errors. If you want the system to become a mainstream method of currency exchange, then create a site designed for financial professionals.

 

[Dynamic-Xchange]

Given the contention evident in this debate, I thought I'd spend a little time looking into the issue. Of course, 30 minutes of study can be nothing other than superficial, but a number of questions do come to mind.

1) Why is the company registered in Vanuatu? Most people have probably never heard of the place; it's hardly a world centre for commerce. Why is the company not based in the UK, or Europe, or the US?

2) The whole area of financial transactions is highly regulated. This makes me nervous because I'm sure the company must be subject to currency regulations. How is this addressed?

3) When describing benefits to the end user, the website emphasises no transaction fees, etc. When encouraging individuals to work for the company, the examples claim that 10 percent can be made per transaction. These and other inconsistencies cast suspicion on the business model.

4) The website doesn't help itself. There are so many statements about this not being a GRQ scheme, yet I can make my fortune by working an hour a day (i.e., this is a GRQ scheme!).

5) I'm not sure why you are publicising the company at this forum. Maybe you're just altruistic or just passionate about the idea. It's not clear to me.

I don't doubt that many people have made money from this program, although I suspect the annual income numbers are in the thousands of pounds and not the hundreds of thousands. It's very ambitious to try to outdo all other methods of currency exchange and to become a de facto standard. Personally, I suspect that regulation will kill it first, but every entrepreneur must have his/her dream.

If it's legal and if you're earning a living wage, good luck to you. My recommendation would be to create a more professional website - without the outrageous claims and the spelling/grammatical errors. If you want the system to become a mainstream method of currency exchange, then create a site designed for financial professionals.

1) The reason the company is registered in Vanuatu can be found here:

http://www.dxinone.com/DXBusiness/DXGlobalCompany/DXGlobalCompany.Overview.asp?DXAction=0

and DXInOne are indeed setting up global LDXMerchant offices this year and next, most notably in UK, Germany, USA and Australia. You have to keep in mind we are taking about e-commerce, not commerce so it doesn't really matter where you are based!

2) At this present time being located in Vanuatu it does not fall under any regulations but it has implemented several requirements from us keeping in line with the Patriot Act and creating offices in the USA and Europe it is going to be strictly regulated thus we are going to be granted MBS licences in the very near future.

3 & 4) That is just my personal website so has no reflection on DXInOne itself, I have just explained the part of the business that is most questioned and the reason I mention the GRQ so much is because that is the impression people get so I try to explain it. I'm new to creating websites and Internet Marketing and as I mentioned in one of my other posts, I am indeed moving towards creating a more professional website now that I have finished uni and can dedicate more time to it. My website is more of a teaching/training site at the moment, the first few pages just give people a general idea of one element of this business. The DXInOne site is extremly professional. www.dxinone.vu

5) I wasn't publicising my site at this forum, I was drawn into it by someone else, I am at this forum to learn as I don't know anyone who is business oreintated so I am learning myself from other peoples posts and experience, and also how to present this as a professional business oppotunity to others.

I came here to look for advice quietly while browsing the forums so that I could mold this business and my website into a more professional, presentable opportunity. I didn't quiet expect to get jumped on and attacked by certain members. Thanks for your advice.

 

[WakingDragon]

The dxinone.com site is registered to the same person as your personal site. Did you do both of them?

 

[Dynamic-Xchange]

The dxinone.com site is registered to the same person as your personal site. Did you do both of them?

No, I only wish I could create websites like that. I think you must be mistaken or do you mean registered 'through' the same site, ie GoDaddy?

 

[WakingDragon]

The dxinone.com site is registered to the same person as your personal site. Did you do both of them?

No, I only wish I could create websites like that. I think you must be mistaken.

No. They are both registered to the same address.

 

[WakingDragon]

Dave,

I did not "speak to a few mates". I checked with people that I know but that also happen to be a) very experienced in global finance and b) aware of new trends in financial markets. That they are friends simply made it easy for me to check with them. I also trawled the extensive LexisNexis news and business system (which, in case you don't know, compiles news and business and financial data from around the world).

If DX can make a good living out of this then I say good luck to him - makes no difference to me.

The argument was started because I made a sarcastic comment about the ridiculous claims made on the dynamic exchange site (which have now been removed I see - so I have done this fella some good in that if nothing else).

Hope that clarifies things a little. My position is obviously clear, but please be assured that this is not a knee-jerk reaction.

 

[daveashton]

this forum is getting v angry

Lets help people if we can and do it with a smile.

This whole threat does not help DX, you or anyone. so why?

enough said, getting fed up with angry forum members.

 

[Dynamic-Xchange]

Of course it was a knee jerk reaction. 1.58pm you started this thread, by 2.06pm you had done all your indepth research and spoken to your mates, lol. How can you check with your mates if you don't understand it yourself and therefore can't explain it. It was quiet obvious you didn't even know much about e-Currencies to start off with, let alone form an educated opinion on it. As I mentioned before, just because someone works at a bank or investment company doesn't mean they know everything about the e-Currency market does it? Especially baring in mind DXInOne isn't even mainstream yet and haven't embarked on an advertising campaign to date. They are still releasing the final DXServices before their official launch, maybe then you will pick up some thing from the mainstream LexisNexis network.

 

[Dynamic-Xchange]

this forum is getting v angry

Lets help people if we can and do it with a smile.

This whole threat does not help DX, you or anyone. so why?

enough said, getting fed up with angry forum members.

Like I said at the start, I was simply trawling this forum picking up bits of advice, didn't expect a lynching. Maybe you will come back to this thread when the name DXInOne surfaces in the future and may even ask for my help.

 

[Cornish Steve]

I came here to look for advice quietly while browsing the forums so that I could mold this business and my website into a more professional, presentable opportunity.

If you look beyong the emotion in this message thread, it's clear that you have received a lot of useful feedback. More than anything, your website needs to prove this is a credible and viable business. That means more professional copy and more realistic claims. I'd highlight at your site the forum to which you referred earlier; an open community that takes and addresses criticism will help you establish credibility.

All credit to you for hanging in there despite some harsh words from others. It proves that you believe in your venture and want to improve. Personally, I'm not convinced - but I'm keeping an open mind.

 

[Dynamic-Xchange]

Thanks Steve. I'm still learning with regards to website creation and presentation and I am indeed working towards improving my website.

 

[Jayne]

If I was a mod, this would be locked up now and the key thrown away :lol:

Men, you go on about us women going on :roll:

Leave the lad alone know, I think you've all said you piece. Come and have some fun in Time Out, de-stress a bit.

Jayne

 

[Dynamic-Xchange]

The dxinone.com site is registered to the same person as your personal site. Did you do both of them?

No, I only wish I could create websites like that. I think you must be mistaken.

No. They are both registered to the same address.

I'm afraid you are mistaken again. You are probably referring to GoDaddy registration details, maybe ask you mates to do some more quick research for you.

I gather you are referring to these details:

http://www.whois.net/whois.cgi2?d=dynamic-xchange.com
http://www.whois.net/whois.cgi2?d=dxinone.com

These actually mean next to nothing, it is just the registration agent.

DXInOne have actually wisely registered a large number of similar domain names and the main registration details are under this one:

http://www.whois.net/whois.cgi2?d=dxinone.biz

 

[WakingDragon]

I'm not getting angry. It just kinda snowballed. I said something, DX came back asking me to justify it, so I did. This is not an emotional thing for me - I just don't believe the business is genuine.

@DX...
Admittedly there was a knee jerk reaction to your claim that anyone could earn $500 for half an hour's work. What's wrong with that? Healthy suspicion has kept me from loosing my shirt to claims like that I receive through my inbox every day.

Contrary to what you claim there is nothing particularly original or new about e-currencies. As cjay has been helpfully pointing out, what exactly is different or better about these spurious, unregulated tokens when compared to national, regulated currencies?

There is no malice intended towards you personally, but you did ask me to justify my comments and so I have tried my best to.

 

[Dynamic-Xchange]

I'm not getting angry. It just kinda snowballed. I said something, DX came back asking me to justify it, so I did. This is not an emotional thing for me - I just don't believe the business is genuine.

@DX...
Admittedly there was a knee jerk reaction to your claim that anyone could earn $500 for half an hour's work. What's wrong with that? Healthy suspicion has kept me from loosing my shirt to claims like that I receive through my inbox every day.

Contrary to what you claim there is nothing particularly original or new about e-currencies. As cjay has been helpfully pointing out, what exactly is different or better about these spurious, unregulated tokens when compared to national, regulated currencies?

There is no malice intended towards you personally, but you did ask me to justify my comments and so I have tried my best to.

There's nothing wrong with that, don't worry, I don't take it personally, I just like to understand how people come to form an opinion so quickly when not knowing much about it. I did explain on my site that I have reached this level after starting over two years ago and also stated that you can't expect to make that sort of money straight off as it takes time to achieve those levels.

I don't remember saying e-Currencies were new or original, I just said you were commenting on something you didn't have much knowledge about and I have already given a link to an article as to why e-Currency are becoming increasingly popular compared to national, regulated currencies when purchasing things online, and it states why they are better.

We will just have to agree to disagree and now maybe I can get back to learning, which was the reason I came here, instead of having to defend my occupation.

 

[WakingDragon]

Fair do. The fact that e-currencies are not new means that it is possible to know something about their problems and weaknesses without being familiar with the specifics - that simply speeded up my response.

Agree to disagree it shall be though. Best of luck in your endeavours. If it works out, PM me and I will send my address. You post me a bottle of chilli sauce to accompany the hat I shall be eating

 

[Dynamic-Xchange]

Fair do. The fact that e-currencies are not new means that it is possible to know something about their problems and weaknesses without being familiar with the specifics - that simply speeded up my response.

Agree to disagree it shall be though. Best of luck in your endeavours. If it works out, PM me and I will send my address. You post me a bottle of chilli sauce to accompany the hat I shall be eating

Lol, thanks. What would constitute it working out exactly as I have already been doing it for two years, and others I know for five years? Maybe once you hear about DXInOne from a major business or news network perhaps.

All the best,

Simon.

 

[WakingDragon]

I think we can safely say this thread is over. I will PM you shortly.

 

[Dynamic-Xchange]

Well, it has been a while since I was here having this discussion but since then the DXSystem has launched and I have updated my website. There is now a Presentation of the DXSystem and DXSynergy and also more detailed information about the kind of things we provide.

Conversation is welcome.

Note, Dynamic-Xchange.com is my own training/information site, and DXSynergy is the actual system/business site.