Cannot Understand

[Not_A_Newbie]

Can someone please explain to me what the problem is with PicPay? I know it is owned by Bryan Marsden but surely it is just a payment processor in the same way as PayPal or IntGold or Stormpay is.

This is not a criticism of PIPS so please don't jump down my throat Pipsters.

What I don't understand is why it is taking so long to process withdrawals when all they are doing is transferring an ecurrency into real currency. People seem to be getting money from PIPS into PicPay but then are having problems turning that into real money.

If I get money paid into my e-gold account or IntGold account then I can easily and quickly transfer that into real cash.

What is it with PicPay that is not allowing this to happen?

Even though it is owned by Mardsen, aren't the delays the responsibility of PicPay?

[itsajoke]

Originally Posted by not a newbie

What I don't understand is why it is taking so long to process withdrawals when all they are doing is transferring an ecurrency into real currency. People seem to be getting money from PIPS into PicPay but then are having problems turning that into real money.

Therein lies the problem. Just as the alchemists of old could not turn fake gold into real gold, Bryan cannot turn fake money (numbers on a screen) into real money.

[dogman]

1 reason is that no exchanger (outside of Picpay) will accept Picpay as a legitimate currency so no one but Picpay will exchange Picpay for real cash through an exchanger's bank acct.

2nd reason is supposedly because of the banks. The banks supposedly won't allow Picpay to exchange their own currency into real cash. But why? Why can't Picpay establish a good relationship with a bank?

But it is a good question, not a newbie. Why are all the other e-currencies (e-gold, Stormpay) able to get established easily and develop a good reputation with exchangers and get other exchangers to accept their e-currency? And Picpay can't?

Why doesn't Picpay do this like E-gold?

[Not_A_Newbie]

Originally Posted by itsajoke

Therein lies the problem. Just as the alchemists of old could not turn fake gold into real gold, Bryan cannot turn fake money (numbers on a screen) into real money.

I can understand that. What I don't understand is that even merchants accept PicPay (which I believe to be worthless) but they are still 'trading' in it. My question really was how can people really get paid by PIPS (well sort of) and then get 6 month delays by a payment processor.

I am just lost on this. If I receive a payment into my PayPal or e-gold or IntGold account that is what I get, a payment PDQ. How can a payment processor hang onto people's money for 6 months?

I just wanted to know if it was PicPay or PIPS to blame.

[transparent]

the simple reason is this: picpay doesn't exist as anything else than as a delay-tactic. it is 100% tied to pips because the 'money' from pips flows directly to it. it is not a seperate business in any sense of the word expect that it has a different website. bryan still "approves" the transfers to real money himself. it doesn't exist as a seperate corporation, it doesn't have seperate (real) funds.. etc.

oh yeah, at that point when you transfer your cash from pips to picpay bryan actually promises that the cash actually exists and that the investments have gone smoothly - and that he has gold to back that picpay up in the case picpays money flow gets interrupted. that is of course a blatant lie and imho the biggest mistake he has done(not that the tos tricks would matter in the real world anyways but no court would watch that and smile).


picpay failed from the start since it was flooded with 'money'(just numbers on the screen) bryan never intended to be allowed to get exhanged to real cash at any point(not that he even could if he wanted, he wouldn't have enough cash for 'em all).

[Not_A_Newbie]

That's what I thought. I live in the UK and I use London Gold Exchange as my exchanger. They will allow me to buy/sell e-gold, IntGold, E-Bulllion, Pecunix and maybe some others but ALL these are backed up with something, either gold or dollars or whatever.

I think what I was trying to say with all this is that if PicPay was backed up with gold (as Marsden says) then London Gold Exchange would allow me to buy/sell PicPay through them. They don't!

[itsajoke]

Originally Posted by not a newbie

I think what I was trying to say with all this is that if PicPay was backed up with gold (as Marsden says) then London Gold Exchange would allow me to buy/sell PicPay through them. They don't!

That is correct. Picpay has no real value - there is nothing backing it up.

[ex-pipster]

Originally Posted by itsajoke

Therein lies the problem. Just as the alchemists of old could not turn fake gold into real gold, Bryan cannot turn fake money (numbers on a screen) into real money.

That's why it's time to take this scammer down

[dogman]

Yes, not a newbie. If Pips were legit and Picpay had real value and something backing it up, then there would be hundreds of exchangers willing and able to exchange Picpay to cash or to another e-currency.

But there aren't any exchangers. Picpay is worthless.

[ex-pipster]

Picpay is worthless

Just like Bryan Marsden. Turn his ass in