Is the P2P party just getting started or what? Kuetzal, Envestio, Monethera have shut down, Grupeer is still burning, but without much hope. So how are P2P bloggers doing? Let’s find out.
When I started looking at the blogs, who promoted shady P2P platforms, the picture was not that bad. Although 68% of the bloggers lost money in Kuetzal, on average it was only 3.1% of their portfolio:
Read more: How much did the P2P bloggers lose in Kuetzal?
Situation got much worse after Envestio - when it shut down, 100% of bloggers lost money and the average losses climbed to 14.3%:
Read more: Are P2P bloggers the worst investors?
Monethera & Grupeer
And with 2 more platforms going down on Friday, the losses are just increasing. The average loss is already -20.04%:
Note that I added 2 more popular P2P bloggers:
crowdlendingrocks.eu likes to do live visits Jorgen style
colminey.com is the guy, who tells everyone else not to raise panic
Both lost money in Envestio and Grupeer.
Why are P2P bloggers so bad at investing?
Some have no idea what they are doing, but in general there is a big problem with conflict of interest. Many want to clone Jorgen’s business model - promote as many P2P platforms as possible, with focus on those that promise high returns, unbelievable guarantees and pay high affiliate commissions. Of course - nothing is free, and typically it means to promote either bad investments with very high risk or scams.
In the end investors and bloggers will lose money from their “investments”. But if you are a blogger and can make much more from affiliate income, the business model still works. Just look at Jorgen - he has lost 20%, almost 80k EUR - but still can afford to live without a job and a portfolio worth over 300k EUR. Thanks to all the investors who followed his advice, clicked on his affiliate links and lost money just like him.
How to avoid losing money?
Check my ratings - they might help to find answers to important questions, but don't rely on that alone, do your own research.
If you have doubts, don't invest. Don't try to find reasons why “it will be fine“, do the opposite - if you see some red flags, skip it.
In stock market diversification makes sense, in unregulated & risky P2P platforms - it does not. Spend more time on due diligence and invest in less platforms, but have more confidence about where you place your money. 2-3 good platforms is a much better idea than 10-15 random platforms from which half will collapse later.
What do affiliate networks think about investors?
The most popular affiliate solution used by Baltic P2P platforms is Circlewise / Target Circle, they are also organising Riga’s P2P Conference. I was invited to participate as a speaker, but because I am critical of bloggers and according to Karlis Levensteins words - “destroying this industry“, then I got uninvited yesterday with these texts:
Kristaps as we all liked your critics at the start (we even wanted to invite you to p2p conference but you got nothing but ban looks like) and hate what has happened right now and this time you are not right blaming other not guilty people. Not talking here about criminals and fraud.
Well well, Kristaps I think it's your time to fuck off if you want to do business someday in an ethical way... Let's see why and answer questions your self:
First of all your comments and actions are in criminal law under blackmailing and you can get up to 5 years about this https://en.wikipedia.org/wiki/Blackmail
1. Why you are scammer: not because of the critical point of view, not because you want to do good and lead by example, but because you are con man https://en.wikipedia.org/wiki/Confidence_trick
2. Can you show Kristaps your all bank account statements with your business income, family, investments and crypto farms? Are your Max traffic business regulated and bitcoin Crypto farms? If you are this high telegram transparent influencer?
3. 2. Can you show Kristaps your all bank account statements with your business income, investments and crypto farms? And why would you? There is specific law protecting even it for your information.
4. Kristaps you know that you can get sued as well for this?
5. We all won't be so arrogant in your case
6. Answer simple question Kristaps why you blackmail other people and neighbor instead of chase Criminals and own to local TAX agency with your business and do investments still?
Why was Karlis so angry? His comment and context described below:
An interesting way to do business from his side. He was happy to invite me to his conference because I have a big following of investors, but as soon as I was not behaving well in Telegram according to his standards and calling out a blogger on his bullshit, then Karlis thinks - it is a good idea to call me a scammer and con man?
According to my info, I have saved some investors from losing more money in shady platforms, but Karlis and his company Circlewise / Target Circle is happy to cooperate with any P2P platform that comes to them - Kuetzal, Envestio, Monthera, Grupeer - all used their solution & their access to publishers. And as long bills are paid, who cares - what later happens to investor money, right?
They not only ignore all the red flags and problems and don't do any research on platforms that they promote, but even have Grupeer as one of their main sponsors for their conference. So who is the scammer here?
2 speakers from Grupeer, 3 speakers from their own affiliate company, couple of bloggers. What a nice way to spend 250 EUR for ticket - listen to guys, who will:
promote shady platforms
help you lose money
meet bloggers, who lost money in Envestio & Grupeer
You think I am joking about “losing money“? Just check out what Karlis answered to one of investors:
Of course, I am not making many friends in this “industry“ by being critical of bloggers, platforms and affiliate platforms, but if it helps others to avoid bad decisions, it is good enough for me. I am happy to received feedback like this:
Hello Kristaps, thank you for uploaded that picture with the comment of Karlis to me. He deserves!!
Despites people say about you, i think you are doing a great job digging in theses shit platforms. For me it was late to withdraw the money from Grupeer when i saw your rating (because it was already invested), but at least i could take the money from fast invest, and that's was thank to you! Thank you!
I really aprecciate your point of view, and I also think that is neccesary to point those people who still promotes promocional links like Jorgen because, he does not give a shit about the rest of the people!
You have my support!
P2P bloggers have no idea about investing and promote shady platforms
Affiliate platforms don't care about investors, will sell you anything
Diversification in P2P does not work
P.S. Join “High-risk investments“ Telegram group for an informal discussion.
Ido from Colminey here.
My net investment (deposits minus withdrawals) was around €7350 in Envestio and €11200 in Grupeer. The rest of my account balance is unactualised profit.
On Grupeer, most of my funds are invested in legit loan originators like StikCredit, Ibancar, CubeFunder and DoZarplati. Some of it is likely to be recovered even if Grupeer collapses.
Even if we accept those investments as loss and deduct them from my overall earnings, my remaining profit from P2P since I began documenting my earnings is over €7500 (not counting affiliate income, which is much smaller).
As you know, I have written critically about Grupeer in the past. I don't encourage people to invest in anything, but merely document my own investment journey. Affiliate links are not a key element in my blog, nor in my motives.
Yes, sometimes I feel the need to calm people down. And yes, sometimes my trust is misplaced. But at least, myself and other bloggers operate on the belief that human beings are decent, and thrive on spreading hope. Meanwhile, you operate on the assumption that all people are bad, and you thrive on spreading resentment.
You may be a better investor, but I'm a better person.
You are an oasis in the middle of this desert. Thank you for writing your thoughts, I wouldn't expect anything less. I hope you can continue for a long, long time. The "world" doesn't need more nice bloggers, nor the ones that only write the good things.
We need people who say the truth, especially when related with bad things of this magnitude. Please keep it up Kristaps!