Invest in Sweeet | First Legit Investor-Plan (Closed)

[magneto]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Dang, but tbh you should have expected this, since you deal with BTC and all. It's not uncommon for paxful/lbc traders to get their paypal limited afaik.

What you should do is list down all outstanding debt and your current assets that you are ale to use to contribute in repaying the debt. Perhaps create a little group chat or whatever to get consensus on what should be done with the investors, whether to lock investments in USD to make it more manageable, etc.

For paypal alternatives, there is okpay, advcash, PM, etc. that i'm sure you are aware of. But not sure if they suit your needs.

[Sweeet]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Dang, but tbh you should have expected this, since you deal with BTC and all. It's not uncommon for paxful/lbc traders to get their paypal limited afaik.

What you should do is list down all outstanding debt and your current assets that you are ale to use to contribute in repaying the debt. Perhaps create a little group chat or whatever to get consensus on what should be done with the investors, whether to lock investments in USD to make it more manageable, etc.

For paypal alternatives, there is okpay, advcash, PM, etc. that i'm sure you are aware of. But not sure if they suit your needs.

I sort of did although the timing was really bad since I just took a big hit in margin trading and was at a debt to my investors, this was the one time that I was in a debt too. As for repaying investors I am going to need some time and planning to see what I can do, it will take a while to find an option for processing the cards if possible, if not making repayments as much as I can.

[Hracik]

I think the situation is not so wrong as you decribe it.

You took 7k loss on margin trading, but you paid back all investors which are borrow you for that. So I think I can say that this loss hit your personal funds most. Also you said that you have funds for new a car, but lost this funds.

Recently you reopen this Paxful-trading thing, get PayPal closed, but this is not loss in current time, or very tiny -- it just hits your future profits.

So i think you should have enough money to pay all investors back their money. Also based on Google docs spreadsheet, it is only couple of thousands -- you can earn that in real life job by 3-6 months.

But, first, you need to be transparent .. we can definitelly work this out.

[Sweeet]

I think the situation is not so wrong as you decribe it.

You took 7k loss on margin trading, but you paid back all investors which are borrow you for that. So I think I can say that this loss hit your personal funds most. Also you said that you have funds for new a car, but lost this funds.

Recently you reopen this Paxful-trading thing, get PayPal closed, but this is not loss in current time, or very tiny -- it just hits your future profits.

So i think you should have enough money to pay all investors back their money. Also based on Google docs spreadsheet, it is only couple of thousands -- you can earn that in real life job by 3-6 months.

But, first, you need to be transparent .. we can definitelly work this out.

I lost an additional $9k when BTC went from 8k-11k margin trading, which by the way I tried for 2 hours to cancel my margin trade but Kraken just kept saying that my order was failed and to try again until I gave up and went to sleep, waking up to -$8k and eventually -$9k. I strayed away from making any statements about it as I figured I would be able to sustain with the rest of the investor funds doing paxful. Although this was the one time that paypal couldn't have done this as it was the only time I was in a debt. So when I took that $9k hit I struct investor funds. With the first loss happening then the second and now being in dept, then Paypal closing my account, this has been an extremely stressful month, probably one of the worst in my life.

[JMack3000ad]

It is more than a couple of thousand Hracik, I invested 0.5 BTC (more fool me) which is 5500 USD with BTC price today. I hope the plan is to fairly repay people as I imagine my contribution could pay back you smaller investors in full (which wouldn't be fair)

[magneto]

I think the situation is not so wrong as you decribe it.

You took 7k loss on margin trading, but you paid back all investors which are borrow you for that. So I think I can say that this loss hit your personal funds most. Also you said that you have funds for new a car, but lost this funds.

Recently you reopen this Paxful-trading thing, get PayPal closed, but this is not loss in current time, or very tiny -- it just hits your future profits.

So i think you should have enough money to pay all investors back their money. Also based on Google docs spreadsheet, it is only couple of thousands -- you can earn that in real life job by 3-6 months.

But, first, you need to be transparent .. we can definitelly work this out.

I lost an additional $9k when BTC went from 8k-11k margin trading, which by the way I tried for 2 hours to cancel my margin trade but Kraken just kept saying that my order was failed and to try again until I gave up and went to sleep, waking up to -$8k and eventually -$9k. I strayed away from making any statements about it as I figured I would be able to sustain with the rest of the investor funds doing paxful. Although this was the one time that paypal couldn't have done this as it was the only time I was in a debt. So when I took that $9k hit I struct investor funds. With the first loss happening then the second and now being in dept, then Paypal closing my account, this has been an extremely stressful month, probably one of the worst in my life.

That is indeed very stressful stuff.

However you have promised investors when they signed up that they would be repaid at a certain point in time for a certain amount - i personally think that it would be a bit unfair if you just reduced everyone's repayments.

In future, you should definitely come up with plans to counter this. You hav eto realise that margin trading is risky as hell, and find plans to basically reduce risk.

[Hracik]

On this I can say, that only a fool will be continue with margin trading when he suffers 7k loss. After second loss I hope you will abandon it forever.

Also, I think no one give you money for that .. the money was given to you for Paxful-trading. I can't imagine your thinking when you risking our funds on margin trading.

[Sweeet]

I think the situation is not so wrong as you decribe it.

You took 7k loss on margin trading, but you paid back all investors which are borrow you for that. So I think I can say that this loss hit your personal funds most. Also you said that you have funds for new a car, but lost this funds.

Recently you reopen this Paxful-trading thing, get PayPal closed, but this is not loss in current time, or very tiny -- it just hits your future profits.

So i think you should have enough money to pay all investors back their money. Also based on Google docs spreadsheet, it is only couple of thousands -- you can earn that in real life job by 3-6 months.

But, first, you need to be transparent .. we can definitelly work this out.

I lost an additional $9k when BTC went from 8k-11k margin trading, which by the way I tried for 2 hours to cancel my margin trade but Kraken just kept saying that my order was failed and to try again until I gave up and went to sleep, waking up to -$8k and eventually -$9k. I strayed away from making any statements about it as I figured I would be able to sustain with the rest of the investor funds doing paxful. Although this was the one time that paypal couldn't have done this as it was the only time I was in a debt. So when I took that $9k hit I struct investor funds. With the first loss happening then the second and now being in dept, then Paypal closing my account, this has been an extremely stressful month, probably one of the worst in my life.

That is indeed very stressful stuff.

However you have promised investors when they signed up that they would be repaid at a certain point in time for a certain amount - i personally think that it would be a bit unfair if you just reduced everyone's repayments.

In future, you should definitely come up with plans to counter this. You hav eto realise that margin trading is risky as hell, and find plans to basically reduce risk.

I have no intentions of reducing anyone's repayment other than interest. I will make sure in the end everyone receives full repayment. Although it may take me some time to figure out how I am going to go about doing that, for now I just need calm and planning. I know of some other possibly methods I could attempt but all I can ask from everyone is their patience, eventually we will be clear of this stress.

[Hracik]

You have my patience, I can wait with my money .. just want to know the plan. I don't need that money anytime soon ..

 I also give you advices in PM. You should look on Revolut, or maybe try open another Paypal account, on different person.

[Fishbones78]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Hi Sweet.
Okay, seems a bit of a nightmare. $800 of all investments is not a huge amount, right? Would it be viable to send everyone the majority of their investments back and then the last little bit when the 800 Is returned or when you can afford It?
Thanks

EDIT:
Can also be worth giving them a quick ring. I have had lonnngggg holds released this way. I honour your transparency. Sucks a little bit as this was the majority of my investments for when I go to university...

[mettwuerstle]

very sad to hear that.
i am completly ok with zero interest.
i would repay to investors what you can repay (everyone the same % of course).
for the rest we will have to be patient.

thanks for the honest feedback so far.

[JMack3000ad]

very sad to hear that.
i am completly ok with zero interest.
i would repay to investors what you can repay (everyone the same % of course).
for the rest we will have to be patient.

thanks for the honest feedback so far.

I echo these sentiments, a partial payment to start with (% based) would give reassurence on receiving the remainder at some future date. Personally, if this future date is a while in the future I am ok with that, I realise others' situations vary. I think at this point no one is thinking about the interest just in getting back what they put in initially in good faith. Also, I don't know if you are currently holding BTC or fiat but if holding fiat with the intent to purchase BTC then there is the risk BTC rises in the meantime (likely imo) then it is going to be even more difficult to honour the initial BTC investments. Either way, appreciate your honesty even if the current situation is less than ideal.

[jackg]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

[TraderMJK]

I have been carefully watching and researching before making an investment. Just before I was going to send something sizeable, something hit me and I sent you an unanswered PM about the gift card risk management.

According to the Google Docs link you provided, you have 1.426 BTC actively invested. At the rate right now, that's $15,500. (Even at a $9,000 BTC rate, that would be $12,834)

The amount PayPal is withholding is $800. So, where is the other $12,000-$14,000? $800 is like 5-6% of the total currently invested in your investment plan.

With the current principal invested you could cover that $800 by giving up a small part of the amount you take with each deal...say 10% for 8-12 BTC>gift card transactions.

I do seem to recall the plan to be buying discounted gift cards and selling them on Paxful. While your Paxful account has received recent positive feedback, there have been no active offers listed on your account for days (even from well before you received the PayPal message.)

The "first legit investor plan" was for you to sell BTC for discounted gift cards and you would sell those cards for a profit. I don't seem to recall mention of you margin trading with the investor funds. Quite frankly, that is gross mismanagement of investor funds by not following the plan people invested into.

I am sure you were well-intentioned; however, all things considered, I suspect you "ponzied out" by misusing funds instead of investing in discounted gift cards on Paxful. You also accepted some larger investments into the plan and had to use the small investments to cover that interest. I don't have the energy to do that analysis using your spreadsheet since it is now a defunct investment offering.

All things considered, there is a serious trust consideration here.

Updated post to include:

I'm tired and my math brain is still groggy, however, I ran some numbers using Lines 78-103 of the spreadsheet. Those lines seem to represent the best snapshot of time and activity.

In that snapshot of activity, the scheme took in 2.841 total BTC investments (26 investments)

It paid out 1.4606 BTC in return of capital and interest (15 investments)
(of the 1.4606 total paid out, 1.355 is return of capital and .1056 represents interest paid)

Still has 1.486 BTC of investor capital owing (11 investments)
Still has 0.14235 BTC in interest owing
1.486 + .14235 =  1.62835 owing

1.4606 (total paid out) + 1.486 (investor capital alone owing) = 2.9466 - 2.841 (total investments) = .1056
(Hmmm, .1056 is equal to the total amount of interest actually paid)

In about a month, he basically kept/spent/misused/bad traded/whatever 50% of the investments (~$15,000 at today's value) and threw up a misleading flag to end it.

[Fishbones78]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

That is very kind of you. However, I'm happy to only get 95% of my investments back and take the rest as just a loss, meaning everyone can get something back.

Personally I'm just praying we ever see Sweet again - because the money I gave to him was my funds to pay for living whilst at college. I'm not angry, because I guess you can't risk what you're not prepared to lose.

Just a kick in the teeth, eh? 

[jackg]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

That is very kind of you. However, I'm happy to only get 95% of my investments back and take the rest as just a loss, meaning everyone can get something back.

Personally I'm just praying we ever see Sweet again - because the money I gave to him was my funds to pay for living whilst at college. I'm not angry, because I guess you can't risk what you're not prepared to lose.

Just a kick in the teeth, eh? 

Like I expected, it seems like you and a few others would need the money faster than me and have a better priority in getting it.
Sweet, if you need the 180+ days to collect the funds for me and can pay everyone else much faster then do it as I see you're quite honest and my investment is the largest on the sheet.
(Just seriously stop margin trading).

[JMack3000ad]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

That is very kind of you. However, I'm happy to only get 95% of my investments back and take the rest as just a loss, meaning everyone can get something back.

Personally I'm just praying we ever see Sweet again - because the money I gave to him was my funds to pay for living whilst at college. I'm not angry, because I guess you can't risk what you're not prepared to lose.

Just a kick in the teeth, eh? 

Like I expected, it seems like you and a few others would need the money faster than me and have a better priority in getting it.
Sweet, if you need the 180+ days to collect the funds for me and can pay everyone else much faster then do it as I see you're quite honest and my investment is the largest on the sheet.
(Just seriously stop margin trading).

Jack, you are incorrect in saying your 0.2 BTC is the largest invested, I invested 0.5 BTC.

[jackg]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

That is very kind of you. However, I'm happy to only get 95% of my investments back and take the rest as just a loss, meaning everyone can get something back.

Personally I'm just praying we ever see Sweet again - because the money I gave to him was my funds to pay for living whilst at college. I'm not angry, because I guess you can't risk what you're not prepared to lose.

Just a kick in the teeth, eh? 

Like I expected, it seems like you and a few others would need the money faster than me and have a better priority in getting it.
Sweet, if you need the 180+ days to collect the funds for me and can pay everyone else much faster then do it as I see you're quite honest and my investment is the largest on the sheet.
(Just seriously stop margin trading).

Jack, you are incorrect in saying your 0.2 BTC is the largest invested, I invested 0.5 BTC.

Alright. That's probably why his PayPal got shut down. He said any transactions he makes above $500 would be investigated, and 0.5 is higher than that (mine was done in two parts).

[Fishbones78]

I woke up this morning to the terrifying message that my Paypal account is being permanently closed, without explanation or reason. It said: "At PayPal, we value a safe community for our customers to do business. We noticed activity in your account that’s inconsistent with our User Agreement and we no longer offer you PayPal services." Also: "Any money in your balance will be held for 180 days, after which we’ll send you an email with instructions about transferring your money." Luckily there is only about $800 on the paypal.

Even worse I am still at a debt to repaying all of your investments due to my margin trading losses. I now no way to grow the funds. I don't know how I will come up with the money yet, I need to find a new payment processor. For now expect possible late repayments, partial payments, and all repayments will have to interest less unfortunately. If anyone has any information of services like Paypal for receiving payments please contact me. Also I will not be taken any further investments until this is sorted.

Im extremely sorry to put everyone in this position.

Payeer seem to be a good cryptocurrency acceptor for transferring funds (I think they accept US$ and € at least along with bitcoin and conversions (but these conversions might be slow)...

Providing I get my 0.2BTC back, I don't particularly care when it is (if you can pay everyone else back with the funds you have then do that and wait until you're more financially stable to repay me).

you should have learned your lesson about margin trading since the 3.5k initial loss.

That is very kind of you. However, I'm happy to only get 95% of my investments back and take the rest as just a loss, meaning everyone can get something back.

Personally I'm just praying we ever see Sweet again - because the money I gave to him was my funds to pay for living whilst at college. I'm not angry, because I guess you can't risk what you're not prepared to lose.

Just a kick in the teeth, eh? 

Like I expected, it seems like you and a few others would need the money faster than me and have a better priority in getting it.
Sweet, if you need the 180+ days to collect the funds for me and can pay everyone else much faster then do it as I see you're quite honest and my investment is the largest on the sheet.
(Just seriously stop margin trading).

I meant so that everyone can take around 90-95% of their investments away within the next week. I really have no reason to get it back before everyone else, everyone wants their own back asap I would imagine. However, your offer is very kind. I just am highly convinced we will not be seeing Sweet again.

[TraderMJK]

Like I expected, it seems like you and a few others would need the money faster than me and have a better priority in getting it.
Sweet, if you need the 180+ days to collect the funds for me and can pay everyone else much faster then do it as I see you're quite honest and my investment is the largest on the sheet.
(Just seriously stop margin trading).

If you think about it:

PayPal froze $800
You have an investment at about $2,100
Sweeet has blown through/lost $15,000 (50% of the investments!)

You're never going to see even any good fraction of your investment. At least you already got back .03775 ($~400) total in this scheme with your last three repaid investments. But, in the end, you're still out $1,700.

[All $ based on today's rates for illustration.]