In the world of crypto you have to be up-to-date with everything to catch on any trends before they hit mainstream. That is why I am trying to get as much information as I can and then analyze it, so, that's why I got into a Facebook group of YouTube streamer Suppoman. I didn't get almost anything valuable for the time being from his suggestions, but reading how people are reacting gave some insight on the overall market reaction (as the group had enough members to provide some sort of statistics). I am OK with any YouTube streamer who tries to play an 'expert' on cryptocurrency, as long as he doesn't manipulate his subscribers. Sometime they even have some good points, or add some extra information to improve the bigger picture. However, Michael Suppo went all the wrong way and I feel a need to share my concerns with you.
I wouldn't touch on the low quality of his suggestions and so-called 'analysis', it is obvious that he has very little interest to share any valuable information with others. But here's the first 'red flag': in one of his recent videos Michael made a call on market crush, but instead of suggesting his followers to sell while they can, he urged them to hold! Why would you ever want to hold to an active, if you predict that the price will fall? It is obvious that you have to sell it before the slump and re-enter the market at lower prices, thus making a solid profit on your portfolio (and this is how you make profits during the bear runs). I found this very wrong and against common ethics. If you pretend to be a 'cryptocurrency expert', you have to tell people truth or at least provide them with some valid options.
When Michael called to buy more of ChainCoin (CHC) everything became clear to me and many other members of the community. This coin has absolutely no practical value. One group came up with an idea of 'buying and holding' and Suppo's group followed this idea with an aim for pumping price as high as they can. But who will eventually buy some useless coin? That's right - the ones who got in at the beginning with big sums. They will exit at some point, triggering big sales and there will be little to no demand on the rest of those coins. So, whoever would listen to Suppo and hold these coins will be literally paying bigger and smarter players. Everyone aware of 'pump & dump' taking place on small-cap cryptos, but suggesting to buy one of those from a 'crypto-expert' has very strong smell of scam. I got only one question - does Michael Suppo has the guts to show his transaction on ChainCoin - when did he buy and when did he sell? Has he followed his own advice? I highly doubt so. In this case, I'm calling it a scam.
P.S. This is the only reply I managed to get from Michael on his youtube page:
As you can see, he blamed me that I was either trolling or was disrespectful. But all I did was whistle-blowing. I am a big believer in crypto, but I feel bad for people losing their hard-earned money in such cases and felt that I had to say something.