According to the latest research and polls, by searching for information about products and goods, people rely not on an expert opinion, but on a person, they trust, even if they are not personally acquainted with him. 74% of people begin to search for information from social networks, of which 49% decide to buy something based on the opinion of bloggers.
In the world of ICO, there are also influential people to whom the players of crypto market listen. But do they always tell the truth? Earlier, the influencers were independent players who expressed the personal opinions. But apparently, it’s left in the past. Today, any crypto project can buy a place in The Sun. The recent scandal with Ian Balina proved this to us. For a lot of money, Ian promoted Chromapolis ICO, which does not have a white paper, their website is not updated, and the management does not even hide that money is important for them.
Give a damn about investors, only the team, funds and advisers should earn money. How to earn money? Due to the huge discounts, which you can not check.
A pool from Ian Balina for $ 2,500,000 which was somehow revealed. The size of the discounts is not known. Ian Balina (he had been a red flag for a long time, and once all followed his advice), most likely got tokens free of charge + fees for “advice” how best to deceive ordinary investors. Although the project everywhere says that they have no pools.
Simply think of a couple of vivid examples. You can recall a couple of vivid examples that will forever take away from you the desire to believe the word of popular people. For example Michael Suppo. He used inexperienced investors for his own mercenary purposes to fill his wallet with money. Thanks to his popular YouTube channel, Michael handles young minds. 100,000 subscribers are ready to follow his advice unconditionally. In the meantime, Suppo for 10$ will be ready to advertise any nonsense under the guise of his own personal choice. He makes a large purchase of cryptocurrency, motivating others to follow his example and thereby artificially provoking a rise in value. Then the coin usually collapses and investors remain with nothing.
Suppo also has a channel, where he teaches newcomers to the primordial management of cryptocurrency and cryptomarket. Michael focuses his attention on those ICOs, where he has already invested.
In general, this is quite a popular scam. Not only Michael Suppo resorted to it. For example, not so long ago, BravadoGroup and several other important influencers tried to pull something like that. Among investors, this scheme is called Pump And Dump Schemes.
What should ordinary investors do? Always double check all the information. Or triple check. Do not be guided by the opinion of one person. Carefully read the white paper and thoroughly study the site. Remember that the world of ICO is still wild and unchecked. And may the Force be with you!