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

[jackg]

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.]

I think/hope Sweeet used his own money for the margin trading at about $9,000 but I may be wrong. That means he's lost $6000 (or 1/5th) of the total invested amount). Which is much easier to regain or should be.

I will still at least have 0.1 if he's lost 50% making me only 0.07 short (which is a big loss but isn't nothing).

[OnceTwiceThird]

I was about to make an investment til I reach the lastest pages of the thread, if you manage to get over % profit again, Im willing to invest.

[TraderMJK]

Sorry, jackg, he most likely didn't use his own money. He basically took the equivalent of 50% of every investment made, including your investment.

Here's some math from the end of my previous long post:

...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.

[jackg]

Sorry, jackg, he most likely didn't use his own money. He basically took the equivalent of 50% of every investment made, including your investment.

Here's some math from the end of my previous long post:

...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.

Ah, I didn't spot that post before. Nice summary Trader.
Still the best thing to do is probably just wait this out and providing he doesn't go back to margining everything again or gambling with it (like the posts he used to make) then we should hopefully see some sort of return.

[Hracik]

Just wait for Sweeet's plan. I am sure he will return the money.

He did it when he suffers first lost on margin trading and at that time this service was closed. So it was his money ..

This time it is different, but his business is legit .. i think he will find a way how to continue soon.

[TraderMJK]

It is impossible to legitimately guarantee any kind of interest or profit with high percentages like that without some other shady dealings/transactions.

I have been part of a group for nearly three years that has a very similar model for earning profits. No, I am not advertising or inviting anyone from here. The point is that in our small group the principal can reasonably be guaranteed, but never the ongoing profit. Two times in 35 months I only received my $500 back. I average $20-$30 profit each month...and I'm still using the same $500 from three years ago.  Some will scoff at such "low profit" but hey, it's a tank of gas or a nice meal out each month. I also know I will have my $500 back on the 14th in case some need arises.

If you want to stop getting screwed I think people need to build their BTC slowly. No more than 10% of your BTC should be in this kind of high-risk stuff. Stop thinking some random person in a forum is going to give you the Tom Vu ideal lifestyle. 99.999999% of the time that poster is probably a Tom Vu in disguise. The only people who get rich are those who will take advantage of your get-rick-quick greed. Forget the luxury yacht...and set a goal to earn tank of gas or candy bar instead.

[jorneyflair]

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.

I agree. Nowhere in the OP does it say that the funds are being used for margin trading, and i'm sure that everyone knows that margin trading is probably a lot more risky than trading gift cards on paxful or something like that. It's almost gambling.

Hopefully Sweeet will be able to come through with this. But as you said, this is mismanagement of investors money.

THey are expecting their funds to be used for one thing but he is using it for something else.

[jackg]

It is impossible to legitimately guarantee any kind of interest or profit with high percentages like that without some other shady dealings/transactions.

I have been part of a group for nearly three years that has a very similar model for earning profits. No, I am not advertising or inviting anyone from here. The point is that in our small group the principal can reasonably be guaranteed, but never the ongoing profit. Two times in 35 months I only received my $500 back. I average $20-$30 profit each month...and I'm still using the same $500 from three years ago.  Some will scoff at such "low profit" but hey, it's a tank of gas or a nice meal out each month. I also know I will have my $500 back on the 14th in case some need arises.

If you want to stop getting screwed I think people need to build their BTC slowly. No more than 10% of your BTC should be in this kind of high-risk stuff. Stop thinking some random person in a forum is going to give you the Tom Vu ideal lifestyle. 99.999999% of the time that poster is probably a Tom Vu in disguise. The only people who get rich are those who will take advantage of your get-rick-quick greed. Forget the luxury yacht...and set a goal to earn tank of gas or candy bar instead.

I still reckon sweeet will find his way through this like the others have said. He has not scammed yet, there's no reason why he would start now... Though I'm not sure he's ever got this volume of money at once before. Still as you said, never invest/gamble with more than you can afford to lose.

[TraderMJK]

I still reckon sweeet will find his way through this like the others have said. He has not scammed yet, there's no reason why he would start now... Though I'm not sure he's ever got this volume of money at once before. Still as you said, never invest/gamble with more than you can afford to lose.

After getting burned like you did, hopefully you are just posting positive things hoping that other unsuspecting people will still have faith and invest and the ponzi will rollover enough to at minimum pay you off. You cannot be taking losing .16225 BTC (~$1,764 USD at the current rate) that lightly. And good for you if you are. I guess some people have funds available to simply burn with no ill-feelings.

But, in any case you, I have a deal for you!!!! For .16225 BTC I will sell you a pair of horse blinders to wear. No need for escrow. I will send first....I will even overnight ship them in the color of your choice. And if you act now.....you can run off with the blinders and not pay me. I will not leave negative feedback. In fact, I will keep saying positive things about you. I will even wait until I am 99 years old for you to pay me. Why? Because you are so loving that you would never step on an ant. I just know you are a good guy and you will make do.

Ohhh, wait, sorry, I forgot that you are already wearing blinders. You do not need blinders, therefore the deal is off.   

Joking aside, if these investments are ever fulfilled, I suspect Sweeet/Osiris is going to start another ponzi or scam here or elsewhere to make that happen. That means other people will be cheated out of their hard-earned currencies or liquid assets. Wouldn't it be sad if you were an unsuspecting part of the new scam to help pay you and others off? At least on this scheme you earned three different times while others earned zero and lost investments. Well, in all fairness, you were also scammed in the end.

To change my mind about any of this, I would like to see Osiris' Paxful transactions from the last month posted within this thread. It should show Osiris bought $15,000 worth of gift cards for BTC on Paxful. Then I want to see the detailed profit/loss for each gift card purchased with that BTC. See, the original post offered a specific investment plan of BTC>gift cards. All other evidence shows Sweeet/Osiris used the money other than how he stated he would. Sweeet/Osiris is $15,000 richer...and at least 5 people here are $15,000 poorer. And even if Sweeet/Osiris lost the $15,000 in riches due to margin trading, there are $15,000 in sufferers because of Sweeet/Osiris.

[jorneyflair]

I still reckon sweeet will find his way through this like the others have said. He has not scammed yet, there's no reason why he would start now... Though I'm not sure he's ever got this volume of money at once before. Still as you said, never invest/gamble with more than you can afford to lose.

After getting burned like you did, hopefully you are just posting positive things hoping that other unsuspecting people will still have faith and invest and the ponzi will rollover enough to at minimum pay you off. You cannot be taking losing .16225 BTC (~$1,764 USD at the current rate) that lightly. And good for you if you are. I guess some people have funds available to simply burn with no ill-feelings.

But, in any case you, I have a deal for you!!!! For .16225 BTC I will sell you a pair of horse blinders to wear. No need for escrow. I will send first....I will even overnight ship them in the color of your choice. And if you act now.....you can run off with the blinders and not pay me. I will not leave negative feedback. In fact, I will keep saying positive things about you. I will even wait until I am 99 years old for you to pay me. Why? Because you are so loving that you would never step on an ant. I just know you are a good guy and you will make do.

Ohhh, wait, sorry, I forgot that you are already wearing blinders. You do not need blinders, therefore the deal is off.   

Joking aside, if these investments are ever fulfilled, I suspect Sweeet/Osiris is going to start another ponzi or scam here or elsewhere to make that happen. That means other people will be cheated out of their hard-earned currencies or liquid assets. Wouldn't it be sad if you were an unsuspecting part of the new scam to help pay you and others off? At least on this scheme you earned three different times while others earned zero and lost investments. Well, in all fairness, you were also scammed in the end.

To change my mind about any of this, I would like to see Osiris' Paxful transactions from the last month posted within this thread. It should show Osiris bought $15,000 worth of gift cards for BTC on Paxful. Then I want to see the detailed profit/loss for each gift card purchased with that BTC. See, the original post offered a specific investment plan of BTC>gift cards. All other evidence shows Sweeet/Osiris used the money other than how he stated he would. Sweeet/Osiris is $15,000 richer...and at least 5 people here are $15,000 poorer. And even if Sweeet/Osiris lost the $15,000 in riches due to margin trading, there are $15,000 in sufferers because of Sweeet/Osiris.

I think that it is still probably too early to conclude that this is a ponzi scheme.

However i really doubt that every single cent of the investor's money has been going to legit trades. There is simply no way that he would be able to sustain that kind of turnover on paxful and still be able to make a guaranteed profit.

He has obviously done margin trading, which probably resulted from investments being too much for him to handle effectively using paxful trading.

Anyways, it'll be interesting to see how things turn out from this.

[TraderMJK]

Yikes, so the math doesn't add up for you in all this?! Right down to the penny . . . Hmm. I'm beginning to suspect alts or hopefuls based on the replies and histories. In any case, I didn't lose a cent. So y'all keep going. I'm done. You have enough empirical evidence from me. Be well!

[betudontbet]

Trader nailed it for sure.
actmyname left negative feedback in sweet account almost a year ago about this ponzi scheme, no one knows about what's about ?
everyone who's been loged in for more than an hour here knows what a ponzi is and why is a MUST to avoid it.
15k Is what I get paid annually on my part time job.

[Sweeet]

The bad, the worse, and the hope.

So heres what happened, I, out of anxiety and stupidity, decided to gamble the last of YOUR investments on dice. I felt I had no options left in order to to repay never thinking about losing the money. Once I lost the money I never felt worse in my life, I felt depression and scared, at first I thought I would just not respond to my investors until eventually i would have accumulated money from something else to repay. But I can't live with myself not giving hope, and a sense of faith. Even worse then losing the money is I currently gave no way to reimburse and generate money to repay any investments.

Here is the only thing I have, I have 0.043 bitcoin, I have the $800 USD in the paypal which I will have in 6 months. One other thing is I gave my dad $550 to buy a car a while ago which he can now sell for around $4k, I don't want to ask him for any of the money he makes from the car but I possibly get $1000 back from him. So with that I have around $2300 to my name. What I am going to have to do to repay these investments I don't know yet but I am going to do what it takes, I will most likely be getting a day job, selling anything of value that I own (not much).

Other than that I am going to continue to look into other payment processors that could possibly work and continue trading, if this does work I will ask my grandparents for investments. I need to make it known now that I am only 17 years old and even younger when I started this so trying new things which require ID is very hard for me to do since it is all done under my Mom. If I don't find a possibly way to trade bitcoins anymore I will take the money I have and just repay it instead of holding onto it in the hopes of being able to use it later for trading.

For now I will structure repayments in priority of amount and how long term the investor is, the higher the amount and the longer the investor I will be repaying as late as possible, and smalller investments and newer investors I will repay as soon as possible. The list of people who will be repaid sorted by priority (Top highest priority with the bottom being lowest): drunkenone, Taras, Fishbones78, Giveen, suredoood, Hracik, mettwuerstle, Anon, Jackg, JMack3000ad, Bias. PLEASE PM me if you are ok with being the least priority repayment, so I can get the money back to the people who need it most first.
 
I will do everything in my power to repay everyone and make it my goal until they are repaid to generate funds. I will not leave until everyone is repaid. Im really fucking sorry.

[Hracik]

It is important do deal whether you repaid in BTC or in USD/EUR based on today prices.. because BTC can cost 20k or 30k soon which will be hard to repaid, but also when price drop to 2k it will be easier. I believe that price will go much higher than it is today, so you should think about it ..

Also send here the actual amounts ..

[Lone Shark]

Sorry, but did he just admit he gambled the money? Clear abuse of trust here.

[monbux]

The bad, the worse, and the hope.

So heres what happened, I, out of anxiety and stupidity, decided to gamble the last of YOUR investments on dice. I felt I had no options left in order to to repay never thinking about losing the money. Once I lost the money I never felt worse in my life, I felt depression and scared, at first I thought I would just not respond to my investors until eventually i would have accumulated money from something else to repay. But I can't live with myself not giving hope, and a sense of faith. Even worse then losing the money is I currently gave no way to reimburse and generate money to repay any investments.

Here is the only thing I have, I have 0.043 bitcoin, I have the $800 USD in the paypal which I will have in 6 months. One other thing is I gave my dad $550 to buy a car a while ago which he can now sell for around $4k, I don't want to ask him for any of the money he makes from the car but I possibly get $1000 back from him. So with that I have around $2300 to my name. What I am going to have to do to repay these investments I don't know yet but I am going to do what it takes, I will most likely be getting a day job, selling anything of value that I own (not much).

Other than that I am going to continue to look into other payment processors that could possibly work and continue trading, if this does work I will ask my grandparents for investments. I need to make it known now that I am only 17 years old and even younger when I started this so trying new things which require ID is very hard for me to do since it is all done under my Mom. If I don't find a possibly way to trade bitcoins anymore I will take the money I have and just repay it instead of holding onto it in the hopes of being able to use it later for trading.

For now I will structure repayments in priority of amount and how long term the investor is, the higher the amount and the longer the investor I will be repaying as late as possible, and smalller investments and newer investors I will repay as soon as possible. The list of people who will be repaid sorted by priority (Top highest priority with the bottom being lowest): drunkenone, Taras, Fishbones78, Giveen, suredoood, Hracik, mettwuerstle, Anon, Jackg, JMack3000ad, Bias. PLEASE PM me if you are ok with being the least priority repayment, so I can get the money back to the people who need it most first.
 
I will do everything in my power to repay everyone and make it my goal until they are repaid to generate funds. I will not leave until everyone is repaid. Im really fucking sorry.

How much money did you lose, then how much money did you lose gambling?
The choice to gamble with the remaining funds was a horrible decision. Hoping that you can find a way to pay everyone back, good luck.

You should also probably make a note of the current situation in your OP.

[Sweeet]

The bad, the worse, and the hope.

So heres what happened, I, out of anxiety and stupidity, decided to gamble the last of YOUR investments on dice. I felt I had no options left in order to to repay never thinking about losing the money. Once I lost the money I never felt worse in my life, I felt depression and scared, at first I thought I would just not respond to my investors until eventually i would have accumulated money from something else to repay. But I can't live with myself not giving hope, and a sense of faith. Even worse then losing the money is I currently gave no way to reimburse and generate money to repay any investments.

Here is the only thing I have, I have 0.043 bitcoin, I have the $800 USD in the paypal which I will have in 6 months. One other thing is I gave my dad $550 to buy a car a while ago which he can now sell for around $4k, I don't want to ask him for any of the money he makes from the car but I possibly get $1000 back from him. So with that I have around $2300 to my name. What I am going to have to do to repay these investments I don't know yet but I am going to do what it takes, I will most likely be getting a day job, selling anything of value that I own (not much).

Other than that I am going to continue to look into other payment processors that could possibly work and continue trading, if this does work I will ask my grandparents for investments. I need to make it known now that I am only 17 years old and even younger when I started this so trying new things which require ID is very hard for me to do since it is all done under my Mom. If I don't find a possibly way to trade bitcoins anymore I will take the money I have and just repay it instead of holding onto it in the hopes of being able to use it later for trading.

For now I will structure repayments in priority of amount and how long term the investor is, the higher the amount and the longer the investor I will be repaying as late as possible, and smalller investments and newer investors I will repay as soon as possible. The list of people who will be repaid sorted by priority (Top highest priority with the bottom being lowest): drunkenone, Taras, Fishbones78, Giveen, suredoood, Hracik, mettwuerstle, Anon, Jackg, JMack3000ad, Bias. PLEASE PM me if you are ok with being the least priority repayment, so I can get the money back to the people who need it most first.
 
I will do everything in my power to repay everyone and make it my goal until they are repaid to generate funds. I will not leave until everyone is repaid. Im really fucking sorry.

How much money did you lose, then how much money did you lose gambling?
The choice to gamble with the remaining funds was a horrible decision. Hoping that you can find a way to pay everyone back, good luck.

You should also probably make a note of the current situation in your OP.

Over the month of November I lost around ~$20,000 doing margin trades then I had a remaining 0.7 BTC which I lost to gambling. Between losing all the money I did and finding out paypal is permanently closing my account I made some very terrible decisions I wish I could go back and overlook them but now I just got to accept what I did, that it was wrong and move on to find a different path into repaying my now debts.

I found a card processor that will work although it requires you to be a business, have a website, and things which I do not have. If I can make it work I should at least reliable have a way to repay.

I contacted every investor notifying of the current situation.

[JMack3000ad]

Hi Sweeet, appreciate you being so honest about the current situation and updating us.  Like others have said, my understanding when investing was that it was based on trading of gift cards with BTC, if the truth had been explained upfront (high risk gambling) then I would not have invested. Still, what is done is done. As Hracick mentions, BTC's price is volatile as we know, personally I think it is going to continue to increase, maybe it is feasible to pay back small investors in BTC based on today's price but larger investors such as myself who you plan to repay in the future, probably better if we fix it at the BTC price when we invested or it's going to spiral out of control.

Also, ideally we would be paid back in our native currencies (GBP for me) don't know how feasible this would be. I don't think you are a scammer as some have suggested in this thread, just someone who made some (ill-advised) moves that went very wrong. Some people will say your repayment scheme resembles a ponzi though (the early contributors benefit from the later contributor's funds), except here the personal amount staked and the fact that the collective pool of money is virtually gone now makes it a bit of a moot point at this stage. I am in the worst position, largest stake and 2nd last to enter the plan. The amount I am out of pocket by versus the remaining funds you have mean any contribution you could make now is largely pointless. Like everyone, I would like my money as soon as possible but taking into account the situation and your personal predicament I am prepared to wait.

[drunkenone]

welp, also appreciate the honesty, and certainly doesn't seem like this was intended as a scam or anything, but obviously pretty upset.

[Sweeet]

Hi Sweeet, appreciate you being so honest about the current situation and updating us.  Like others have said, my understanding when investing was that it was based on trading of gift cards with BTC, if the truth had been explained upfront (high risk gambling) then I would not have invested. Still, what is done is done. As Hracick mentions, BTC's price is volatile as we know, personally I think it is going to continue to increase, maybe it is feasible to pay back small investors in BTC based on today's price but larger investors such as myself who you plan to repay in the future, probably better if we fix it at the BTC price when we invested or it's going to spiral out of control.

Also, ideally we would be paid back in our native currencies (GBP for me) don't know how feasible this would be. I don't think you are a scammer as some have suggested in this thread, just someone who made some (ill-advised) moves that went very wrong. Some people will say your repayment scheme resembles a ponzi though (the early contributors benefit from the later contributor's funds), except here the personal amount staked and the fact that the collective pool of money is virtually gone now makes it a bit of a moot point at this stage. I am in the worst position, largest stake and 2nd last to enter the plan. The amount I am out of pocket by versus the remaining funds you have mean any contribution you could make now is largely pointless. Like everyone, I would like my money as soon as possible but taking into account the situation and your personal predicament I am prepared to wait.

Up until this moment did I ever gamble with investors money, although I did do margin trades which none were done with investors funds except for the one margin trade that took such a big loss that it burned through my personal funds and into the investors funds. Still with that being said it was not ok, I still do not feel comfortable with it, and I will probably not being accepting anymore investments after I have repaid everyone. If you agree to lock your BTC to the USD value at the time it was sent which is: $5341 I am very willing to do this. I don't think it is fair to do this unless that person who invested is ok with it. Whether the value is higher or lower.
 

For anyone saying this is all part of a ponzi or that they saw this coming I don't care about my reputation, I just can't be a scammer, when I was younger I took my parents SSN and opened credit accounts in their names not knowing what I was getting into I didn't understand respect and honesty. After they found out I gained more than I lost which was integrity. There is nothing worse in this world I despise more than a scammer. I will never let myself become that, while I still broke trust I will never scam.