23/01/08. FPP is over. Lessons to Learn!

Bad news! As I predicted last night FastProfitPro – one of the most popular programs – has come to an end. You might have read on the forums about it and it’s not happening news anymore. But I just wanted to give you my opinion on what happened and who were the winners and who were the losers. As usual I will give you this update and my comments after every paragraph.

“It is such an unfortunate event that FPP Round 1 is over. It was a great run of more than a month, but you and I know it had to end sometime. I wasn’t expecting it to be this early but ever since the Liberty Reserve downtime/issue, our program just didn’t generate enough funds to support the active upgrades. Many of you made a good profit but many also had lost. That is how this game goes, for when you signed-up, you agreed and read the Rules and FAQs and apparently, some will win some will lose in the end“.

I agree with this statement completely. Though I saw many members complaining on the forums today I think they should take the responsibility for their own actions as it was clearly stated from the beginning that it’s nothing more than a game where there will be winners and losers. And I couldn’t understand why some of them kept reinvesting from day 1. Did they hope that the program would last forever? Yes, FastProfitPro was a good HYIP and the admin Dave played it nicely. But it was still an HYIP, ponzi-game so why do you think that the same rules don’t apply to it?

“We learn from our mistakes. One thing I’ve learned is 20% daily for 6 days is just not sustainable for a long time. We were lucky to last this long! Nobody expected us to last 2 weeks! Anyway, when I do start a Round 2, depending on the amount of request and support me and Gotenks will get, I will start with a lower and more sustainable rate“.

Well, seeing that the game is over but was run honestly would you support the same admins next round or would you find another program with a stranger admin ready to scam you overnight? I would prefer the first option. So if Dave and Gotenks decide to run Round 2 I will certainly become their #1 supporter. But I will consider their HYIP as a game and hope you too. Never forget what you deposit your money in! Even if it’s an HYIP run by a brilliant and honest admin like Dave it can collapse at any time and it’s too dangerous for your wallet to risk too much. I just hope that Dave will work out more a sustainable model that will allow a new FastProfitPro run for a longer time than the first one.

“The remaining amount on our payment processors will be used to refund those who lost. Do not expect a big percentage as I was still trying to revive the program and tried to pay out the remaining requests but I just wasn’t getting enough support anymore after the decision I made yesterday. But be assured that all funds remaining will be handed out to the last penny. I will also try to exchange the remaining e-gold to add to the remaining funds for refunds“.

Actually Dave already started making refunds to LR because STP is down today but the refund is tiny and is only 6% to all the members who lost in FPP. Not many members were satisfied with the rules for refunding but I think it’s better to receive something instead of nothing. I sincerely hope that you were in profit because I was enjoying this game while it lasted but didn’t forget to fix my profit margin first and then played with profits only. Anyway, even if you lost the money I hope you will get your refund. I’m going to monitor the refunding process and will report about the process on my blog. Also stay tuned for more news and updates regarding Dave’s future plans. You will be the first to know when the next round starts.

“Please do not blame anybody. Not yourself, not your upline, not the payment processors, not the one who invited you, or not us. We did our best, it just wasn’t good enough.
P.S. Those who deposited recently today and last night will be refunded in full minus fees“.

This is actually the most controversial part of the mass email. It appeared that Dave only refunded members NOT in profit that made deposits on the last days of the program’s existence. For those who supported the program till the end but were already in profit refunds were not issued. Suppose that you were in $1,000 profit but then after Dave asked you to support the program during that hard time you as a loyal member deposited this grand back and what have you been left with? With nothing. Why? Because you were loyal and continued to support the program even if it was obvious that it is collapsing. So in this case I consider “Hit-n-Runners” were winners because they got what they’ve been for in FPP in the first place – profit – and left without any regret. The vast majority of those members who were looking for a stable long-running program and supported it regardless of all obstacles were the actual losers because they kept depositing and supporting the program especially when they were asked to do it, when Dave asked them for support. So in the end they were left with nothing. And don’t get me wrong, I don’t blame Dave for doing it. It’s just how it all goes in HYIP arena (am not talking about autosurfs). The winners are actually those who fix the profit and quit the game as soon as possible. All the rest are the losers. Is it unfair? I think yes but it’s just the nature of HYIP. Here I would agree with Dave’s words. Please blame only yourself not anybody else and better next time play these games differently. And if you can’t play them in such way just leave this industry for good because you will keep losing your money after all. Neither honest admin nor stable and long-term plans will not help you to achieve the most important thing why we are here for – profit. Think of “profit” if you want to win in this game and you will be successful! I guarantee it to you.

Other news for today.

My favourite HYIP after the demise of FastProfitPro is PimpMyBucks. I have already received several withdrawals and re-deposited part of the money. I have also sent an interview to Chris and if he answers by tomorrow I will publish it on my blog. Last night Chris sent the first newsletter to all the members and here the important updates in a nutshell:

1) Auto voter. Now you can use instant auto-voter to vote for PimpMyBucks after you received your payment.
2) Support. You can use the “Live Help” on the support page now in addition to email support.
3) Withdrawal fee. Withdrawal fee will remain at current 3% and will not be waived. I remind you that the fee is used as an admin reward.
4) Future development. Chris posted here that he was satisfied with members’ support. He encourages us to support the program further by voting and posting on forums.

Jamie, admin of PSTraffic couldn’t finish all the STP pendings because SolidTrustPay was down for the most part of the day. But at the same time all payments were on or ahead of schedule. The important thing is 5% withdrawal fee will possibly be waived in the future: “PSTraffic has paid out a total of $10,170.39 so far and $1,000 of refunds which the 5% withdrawal fee is being used towards. I plan to remove the 5% fee in the future. Please continue to promote and support PSTraffic so we can strive for our continued success“.

For those of you who still remember Jamie’s other program back in 2007 PSAdvertising there’s a great surprise prepared. Jamie is about to open the renewed model of PSAdvertising soon and “it will be different from PSTraffic. Without disclosing too much information members can earn a total of 150% for 31 days“. I will be looking forward to it and of course will join and report about it on my blog when the program is launched.

News about “desireS”. I have seen him recently on MMG forum in BlessingGlobeFund thread under his “xxxxPAK” username bragging that he withdrew another hundred bucks from the program. Actually I have info that he has at least another $1K in BlessingGlobeFund and had several thousands in FastProfitPro. So the idea is: why not take this money from him and use it for refunds? Anyway, it is stolen money: nothing more, nothing less.

By the way, speaking of BlessingGlobeFund, the admin pays me daily but I don’t know why STP option is not added yet. He keeps being silent about it. Also I noticed that many members complained that their referral payments were not being credited properly. I hope Gotenks is still a programmer there. If he is then I don’t know why there are some issues there and STP has not been added yet. I wonder why the admin doesn’t answer the questions about STP and just I hope that Razvan’s (desireS) money is safe there (by the way, he just redeposited $1K). So I really don’t know what to say: on one hand the program is still paying, but on the other hand the situation is not clear to me.

This is all the news I was going to report today. See you tomorrow!
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