Monday, April 18, 2011

Beware of (aka Speakasia)

I know that this title can raise many eyebrows, but I am sure that in a year or two people will thank me for this post.

I generally do not speak much about MLM as ultimately they all run away with people's money and by now everyone should have learned this, but in recent days I saw a rising trend of people speaking about

Here are some points which I wanted to tell you then you can yourself verify whether Speak Asia is good for you or not?

1. is a Singapore company but it need to host its mail on rediffmail? Everyone knows that Rediff Mail is an Indian Company with global presence but the majority of Rediffmail pro users are Indians and if anyone from Singapore needs outsourced email then they can easily select gmail but not rediffmail pro.

Here is the DNS Record for :

Record Type TTL Priority Content A 30 minutes () MX 1 hour 10 NS 1 hour NS 1 hour SOA 1 hour 2011033100 28800 7200 604800 86400 TXT 1 hour v=spf1 ~all SOA 1 day 2011033100 28800 7200 604800 86400 A 1 hour () CNAME 1 hour

2. It is very strange that a Singapore based company is giving its payout FAQ only for Indian Bank?
Check out The FAQ section under Rewards, you will find this line:

Q3) How do I redeem my reward points from the company?

A:The reward points can be redeemed for buying products , services and subscriptions . Un utilized reward points can also to transferred from your e wallet upon request to your bank account at the end of 30 days from the date of filling up the survey. Within 7-14 working days (depending upon the local bank in India) the amount gets credited to your bank account. Amounts are credited in your local currency by the bank. A bank transfer charge at the rate of 3% is applied subject to a minimum of USD7.5 .

3. Traffic source

Being a Singapore based company focusing all world, it is very strange that 80% of the traffic for the site is from India and the remaining 20% is from Bangladesh.

4. Enough of the above jargons as most people will not understand and those who understand above matter will not easily fall into prey of these sites. So here is one example which can raise the doubt:
According to one person who tried his best to convince me for Speak Asia, that they pay Rs. 1000 per survey. Which company on earth could pay such a large amount for one Survey? lets be genuine even if the amount is $1 USD i.e. Rs. 50 per survey then also its too much. I mean in present time you can get thousands of accurate survey done in much lesser amount.

That guy told me that a company pays Rs. 30 lac for advertisement then instead of that advertisement they can reach to clients much faster than survey. Then here is the answer I gave, when a company pays Rs. 30 lac for an advertisement then they reach a very large audience. For instance an Ad in World cup final would be viewed by atleast 50 million people. But if this amount is divided by 1000 then the target audience would be only 3000. So why would a company leave 30 million viewers to achieve only 3000 for the same amount? Will you do it?

4. Rs. 11000 for subscription to their website only. There is no commitment from them, i.e. any legal bounding for providing you any survey. So you can't do any case against them. Even if you do then whom you will file case against?

5. How long speak asia will stay?

Thats a question which is even uncertain for the owners of the Speakasiaonline. The simple answer is they will stay online as long as their income is more than their debts. That is as long as the number of new registrations on their site is giving them more money than what they need to pay to their existing users. The day when the income is equal or less than the debt, they slowly will disabling accounts and then reducing the number of surveys, then claiming surveys as fraud. This way they can squeeze maximum profit and sooner they will close down their site.

So as long as the site is online then you can make money but there is no certainty how long they will remain active. So take risk if you want.

And for those who want to comment that this site is reliable, they are making money, they can show proof I would like to say only this thing :

I don't care how much money you are making or you have purchased a brand new Honda Civic with the earnings. I don't want to join this or any kind of MLM. I am happy for your profits but I prefer the hard way of doing business rather than such fast methods of earning money.

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