Calling Out Blogger Bullshit
I was linked from someone to read this Dr Wealth post about "Opportunities are Alive and Well in Crypto World: 200% Gains on Wazirx". Please read it for important context.
Fact 1 - it is very CONVENIENTLY left out in the entire post that to qualify for the IEO, you are REQUIRED to hold onto BNB tokens to increase the number of LOTTERY tickets you can get to POSSIBLY subscribe to the IEO (LINK)
Fact 2 - You need to hold 500 BNB to maximize the number of lottery tickets (10 tickets)
Fact 3 - You must hold at least 50 BNB to even qualify for 1 ticket
Fact 4 - 500 BNB at today's price is ~$14,000 SGD
Fact 5 - 50 BNB is ~$1,400
Fact 6 - Each ticket only has a 7.31% chance of winning a single allocation (LINK)
Fact 7 - Chris Long sceenshot shows the allocation of 1 ticket
Fact 8 - His profit was ~$600
Fact 9 - (to my best memory) every single Binance IEO has listed immediately in profits
Fact 10 - you do *not* need to attend a Cryptocurrency Masterclass to know this
Since I have been excommunicated from the circle of SG Finance bloggers after I went 100% all-in on crypto in 2017, I just keep my head down and have just been doing my own shit.
But when people start blogging about cryptocurrencies, and in such a greasy fashion, I am OBLIGED to come out of my psychiatric ward and spread some FACTS about the situation.
My problem with that post is two-fold:
- massively LACKING essential information to appear skillful
- "free" class at the end that will lead to an actual paid class
As far as I know, there has never been a Binance IEO that did NOT list in immediate profits. So an amazing 200% trade? Meh.
I took part in plenty of Binance IEOs. Missed some. Got into plenty. Made good % gains, but because of the lottery style allocation, you can only put in tiny amounts of money to gamble in this.
But hey, what the hell do I know, right? I don't even have my own trading school, lol.
This is literally the first time I have heard of anyone flex that they "picked" a good IEO. That person that linked me the Dr Wealth post literally said "omg this is damn lol, like this can conduct masterclass liao".
Hey hey hey hey hey.
Not I say one hor. Someone else say. I am only just quoting. Don't shoot the messenger.
Anyway, outside of Binance IEOs? Universally almost all of them are now massively underwater. Actually, I think even a couple of Binance IEOs are now underwater too. They usually list at a profit, then slowly bleed out and die. The point is that IEOs are very risky and will likely be UNPROFITABLE, but the Binance ones are, as based on past performance, always a shoe-in at listing.
This is all public info, if anyone bothered to give a shit.
While you ABSOLUTELY DO NOT NEED TO ATTEND A CRYPTOCURRENCY MASTERCLASS TO KNOW THIS, I suppose you could. You could get that guy to tell you freely available public data.
I have spent absolutely $0 paying anyone to teach me anything about cryptocurrencies. Maybe I am really really smart? Or maybe I am not lazy and I actually bother to go out and learn stuff? Personally, I don't think I'm that smart, so I'd go with #2.
But hey, maybe it works out for you - paying someone to spoonfeed you information that you are too lazy to find for yourself.
I'm just gonna leave this here, from a post I did in 2017. (Oh that link has quite a few crypto resources too, but be warned, they are outdated AF, and most of my views have changed.)
I mean, when has any free trading or investing class not turned out to be a sales lead for a several thousand dollar course?