Friday, June 16, 2006

Compact Surfing Important Update

After several members reported that cash-outs were progressing very slowly with some members nearing the 7 day maximum deadline, Compact Surfing sent out a new update. Basically, it states that all current pending payments, and to all those in the future, will be paid 7 business days following the date of your cash-out request. I believe the reason for this sudden change in pay-out structure is because the price of gold has plummeted recently and, as a result, Compact Surfing’s cash reserves have been deeply affected.

Hopefully, CS will be able to continue to pay out members. In the meantime, we’ll just have to wait and see. Some people see these changes as a red flag. Personally, although I’m skeptical, I haven’t completely given up on CS. However, I might pull out of CS after/if I receive my next pending cash-out.

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