Kuvera, LLC Better Business Bureau® Profile

BTM FOUNDATION - is the new generation hybrid profitable investment fund

Modern economic environment, being forced by the total digitalization of all segments of business, challenges new investment approaches. Traditional evaluation models like DCF do not work. Businesses are being evaluated by very different approaches, such as real option evaluation approach, Merton formula, using stochastic Wiener processes towards evaluation. Sometimes we observe irrational investors’ behavior, when they evaluate perspectives of some businesses: shares of many new wave companies are flying tothemoon without any rational explanations of their business models. Due to traditional evaluation methods such companies must have negative shares price! What we must learn from this experience, is that our world has changed dramatically. Zero discount rates by the central banks and infinite liquidity lead to negative bank deposit rates: you need to pay money just to keep it safe! Due to asymmetric information on the financial markets, non professional investors usually make adverse selection: they invest their funds into big long run scam projects, pretending to be big fair businesses. Theranos, Nikola, SKYWAY, Softbank, ONECOIN, BitClub and many others are among Bernard Madoff like financial pyramids pretending to be serious businesses.
Due to informational hype all around, it is very hard to make a right choice of investment. New hype trains, like crypto, blockchain, artificial intelligence today looks like toy for geeks, but not for serious investors. Inflows of «stupid money» arrive to all those wealth redistribution factories and transform to lambos, yachts, cocaine and booze for hipsters, while investors just get useless shitcoins and dreams of a new «unicorn». Everyone wishes to catch up a new next APPLE or MicroSoft at an early stage. Same story happened several years ago when we were observing big previous bubble called «dotcom bubble». Only several companies survived, others sunk with tons of investors’ money. LETS STOP IT! INVESTORS MUST EARN! There are many money earning opportunities around, both overhyped, like crypto, blockchain, artificial intelligence, DEFI, as well as more conservative, but still very profitable, like intellectual garbage recycling or production of intellectual power supply units. Our mission at BTM fund is to connect smart money with profitable businesses, seeking for the blood - strategic funding from smart investors, for whom they gonna bring good stable profits!
BTM fund is the hybrid new generation investment fund, which is created by high level professionals with many years experience and proven track record on the stock and currency market, forex, cryptocurrency market and traditional investment business. BTM headquarters is located in London, also there are representative offices in Moscow and Kiev. Also we are planning to open offices in Dubai, Istanbul, New York, Kazakhstan and Uzbekistan.
Against the background of impending global economic crisis, which is well seasoned by the Major Brand of the Year 2019 - 2020 - COVID19, there is no safe heaven any more. All stock markets and financial indexes are on their tops, obviously we are observing big financial bubble, which can burst any time. Astronomical figures of the USA state debt and many other emerging economies lead to soft monetary policy: there is much cheap money, but no good investment opportunities, which can create added value. Flexible solutions of hybrid investment fund BTM provide its clients to manage their funds efficiently.
The key unique feature of our investment fund is instant diversification of investment programmes. «Let the profit leak and cut the losses» - this is the core principle of our investment strategy. Our professional financial managers do always have a finger on the pulse of modern trend in the investment environment. Today we are surfing on the hype waves of defi, crypto, blockchain, AI, and tomorrow we reallocate assets into top American stocks, gold, bonds, cash, or invest into high yielding real busin
#cryptofound #blockchainfound #btm #btmfoundation #btmfound #криптофонд #блокчейнфонд #пассивныйдоход #инвестиции #интернетзаработок
submitted by btmfoundation to u/btmfoundation [link] [comments]

Is my friend in an MLM scheme?

Recently my friend has gotten into forex trading, I wasn’t exactly sure how but I heard that he got into it from another person who he trades with after they posted on Instagram.
Lately, he’s been posting his trades on his Instagram stories and had a poll asking who else is interested in trading.
I believe he’s apart of a trading group? Called Generational Wealth Empire on Instagram, the account has no posts and they only post on their story of their members making money with trades. Please leave some advice or comments, I’m concerned especially because my friends only in high school!!
UPDATE: I just talked to him about it, specifically about the recruiting aspect and he mentions IM ACADEMY, yep it’s a scam
submitted by almokyung to antiMLM [link] [comments]

Starting a workgroup to tackle shady MLMs and "scam" courses

Hi all

Besiege here. After seeing a couple of reddit posts on shady MLM, pyramid schemes and "scam" courses, I was wondering if any of the sg redditors here would be interested to start a workgroup to better address these issues (it can be online!). There has been a sizable movement by the government to catch outright scams ( https://www.scamalert.sg/ ), but the same cannot be said for shady MLMs/"scam" courses. If there is one which I am not aware of, let me know and I will delete this post.
Personally, I feel indignant whenever I hear of individuals/groups taking advantage of vulnerable populations in order to make a quick buck off them. Worse, I shudder when I hear these scummy people justify their actions by arguing they are providing opportunities for others to become a better version of themselves. Just a few quick points to get terminologies out of the way:

Some ideas right off the top of my head:
  1. Maintaining a list of potentially shady companies/courses/individuals to avoid (on a website/gdoc/ singapore wiki page)
  2. Creating a checklist for people to suss out shady schemes (e.g. no mention of the company's name, constant avoidance of business model, no mention of the product being sold, some mentor figure who changed lives)
  3. Written articles to detail modus operandi of various pyramid/"scam" course schemes (e.g. like the rice media article on ICS)
  4. Have an open channel for people to talk about any potential illegal MLM experiences; We will listen and ask guiding questions to suss out if the experience was indeed MLM (by notafairylight)

If you are interested to join this workgroup or have better ideas, do pm me or post it in the comments. I am looking at maybe 5-6 people for a start, who are willing to carve out some of their personal time for this initiative.
Also, if you have knowledge and skills you think which can be useful for this initiative, do sound out! E.g. writing, legal, content creation, intimate knowledge of various pyramid schemes, programming, etc. I am currently working as a data-analyst btw!

EDIT: Thanks for the awesome response guys! I will create a separate chat group for all those who have indicated interest to help; I will send u the chat group link via PM by tomorrow. It would be great if someone could think of a catchy group name.


EDIT2: Hi, I have sent out the group links. If I missed out anyone, please sound out via pm!

submitted by Besiege to singapore [link] [comments]

Kuvera Global is a pyramid scheme (scam)! 99% of distributors lose money. FOREX is high risk and not for casually putting in your University loan money

EDIT: Kuvera Global is not to be confused with Kuvera, the Indian mutual fund investing company
I can’t believe ppl are buying into this scam. It sickens me that university ppl who know nothing about trading and managing money are targeting innocent students (probably mainly international and first year students). They claim to be experts after 6months, but just sound like sales people roping you into another pyramid scheme. I asked one of their head persons a basic question regarding the impact of the Forex market on Trump’s tariffs which was big news, and they fumbled and couldn’t give me an answer. When I told them this sounds like a pyramid, they proceeded to tell me that I’m uneducated and I will be another loser working a 9-5 job. They even started making personal jabs at me. To speak on Kuvera, it has a complex compensation plan that results in money going back to the mentors. Their product is extremely overpriced at $220/month. You can use Intuit Turbo Tax for like $20 a year and find better videos on how to trade on YouTube. This just incentivizes people to recruit and make money off of signing people up bc that is the only way to make money (Pyramid scheme). Also the distributors on Instagram are posting these results of them making $100+ overnight or while they’re watching the basketball game. They are promoting this lifestyle of flashy cars, fancy hotels, money and 6 figure salaries at age 20 is everything and telling everyone else not in the program they are a chump working 9-5 and missing out.
They don’t promote how risky FOREX, cryptocurrency and buying equities can be. You can end up at square one and lose tons of cash overnight as well. Stop losses only protect you for one trade, but once you keep putting money in and trying to win, you will end up losing eventually and you may not have enough cash to get back in the game. On top of that you are paying this $220 fee. So you are already starting at a loss. FOREX is no joke. Hedge funds and other investment banks filed for bankruptcy when the Swiss Franc took away it’s cap limit over the Euro in 2015. Foreign exchange trading results in major risks such as counterparty risk, market liquidity risk, leverage risks, etc. Kuvera telling us that you can make money through your phone with little risks and by working a few hours a week whenever you feel like it when Wall Street bankers are working 60-80 hours per week? That seems fishy. Also, what baffles me is this giant disclaimer they use. They say that they are not registered financial advisors, but they are teaching us how where to put our hard earned money? Seems contradictory to me.
Furthermore, you have to report all your gains/losses when you file your taxes, otherwise you are committing a federal crime. I hope they are issuing T5s and teaching their followers how they can file this on their tax return. Speaking of taxes, they also mentioned that you will save more in taxes by becoming self-employed so you can have more deductions. WOW. They are legit scamming you to sign up, become a self-employed Kuvera distributor and you will save money on taxes. However, this just means Kuvera does not have to pay CPP, EI, withholding taxes, and can avoid any other liabilities of hiring employees (wrongful dismissal, severance, you name it). This is a classic pyramid scheme resulting in earlier backers making tons of money off of suckers, and using tactics to make it appear legit. Oh and the whole Kuvera being traded publicly and that means it’s legit thing, that does not mean they are legit! They were formerly called WealthGenerators which, if you check on Google, was a major scam selling stocks illegally. They just changed their name to Kuvera. Investview purchased them and the annual audits (required by the SEC) just determine whether the financials are presented fairly, not whether they are coming from a legitimate source. I think it’s the FDC that determines a legitimate company. They will come crashing down soon and if not, well, 99% of people who join MLMs (fancy name for pyramid schemes) lose money. This is a legit joke and I can’t believe this is going on at YorkU.
General rules: when you see:
IT IS MOST LIKELY A PYRAMID SCHEME. Yes, most MLMs are disguised as pyramid schemes as it is insanely easy to appear like you are a legitimate company.
Don’t join these schemes. Please pass this on to 3 more people and encouraging them to do the same.
submitted by VealCutlets95 to u/VealCutlets95 [link] [comments]

ERIC HO FRAUD

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
submitted by paulhorne22 to u/paulhorne22 [link] [comments]

The intelligent investors guide to cryptocurrency: Part 3b - Pricing and liquidity

*Introductions: I'm joskye. A cryptocurrency investor and SDC holder. *
...
Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
Part 3b continues where I left off with a discussion about price metrics specifically, what determines the price and the importance of liquidity:
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The day traders:
As I mentioned in my previous article, as of writing almost every cryptocurrency is determined purely by speculative value.
Thus the absolute price of a given cryptocurrency is determined solely by the day traders and specifically the last price it was agreed that currency would be sold at with confirmation of that price by a buyer who bought it.
People say lots of things determine the price; marketcap, liquidity, value proposition, revenues generated by the coin, the number of said coin in circulation but ultimately it comes down to the number of buyers and number of sellers competing for that coin.
Perhaps the other thing is the size of said market relative to the money held by the players in it.
For instance in cryptocurrency Bitcoin is still the biggest player in the game. It carries a per unit price of $900 per coin. There are currently 16,090,137 (16 million) coins in circulation giving it a total marketcap value of [$900 x 16090137 =] $14481123300 or 14.48 billion USD.
Shadowcash looks even more meagre compared to the total cryptocurrency marketcap with only 0.048% of the total cryptocurrency sphere.
To any Shadowcash holders despairing at this point, relax. There are over 707 cryptocurrencies trading as of writing and SDC holds the 27th ranking in terms of market cap. In such a competitive field, filled with scams that's pretty good. Moreso when you consider that SDC is a legitimate technology and is currently probably very undervalued.
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Lets look at the rich list for bitcoin:
Why did I just talk about this?
In cryptocurrency I see this happening on the markets all the time. Indeed market manipulation effects every single cryptocurrency eventually.
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Market manipulation!
Large holders of valuable, high marketcap coins will often make multiple small volume purchases of less valuable, low marketcap coins. Often this will follow announcements regarding developments in that low marketcap coin.
Low volume buying in a market with low daily trading volume can gradually drive up the price attracting an influx of buyers into that coin; often they will make larger volume purchases of it which helps drive up the price much further. This will trigger a further chain of buyers experiencing FOMO (fear of missing out, detailed in Part 2) who will drive up the price even further. The price will pump. Often will smaller cap cryptocurrencies this may result in a sudden 20, 40, 60 or even +100% increase in value often over a very short time space (1-2 days, 1-2 weeks maximum).
The only way to discern if the sudden rise in coin value is due to pre-rigged market manipulation is to look at:
You are looking for organic, gradual growth based on a solid value proposition. Sudden large spikes in value should make you pause and wonder if it's worth waiting for a gradual correction (organic drop) in price before entering your buy order.
Do not fall for a pump and dump. Stick to the lessons covered in previous parts of this guide (especially part 3a and 2) and you will be much less likely to lose money in the long run trading and investing in cryptocurrencies.
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The pattern of change on daily trading volume, the order book and liquidity:
Lets look at SDC and Bitcoin again. This time we are going to compare the daily trading volume (last 24 hours) in USD.
I'd just like to use this opportunity to point out and reinforce the idea that day traders not holders dictate the daily price of an asset. I'd also like to point out daily global trading volume on Forex is $4800 billion which makes Bitcoin a very small fish in the broader arena of global finance and trade i.e. Bitcoin is still very vulnerable to all the price manipulation tactics and liquidity issues I am going to be describing in this article by bigger players with richer pockets.
The daily trading volume also gives you an idea of how much fiat currency you can invest into a given cryptocurrency before you suddenly shift the price.
A sudden rise in coin price heavily out of proportion to the rise in daily trading volume should be the first sign to alert you to a pump & dump scam.
Daily trading volume should show a steady increase over time with sustained buy support at new price levels; this is a good marker of organic, sustainable growth.
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For more detail you can now look at the depth chart:
The depth chart is very useful to know how much fiat currency is required to cause the spot price of a given cryptocurrency to rise or fall by a given amount.
NB the price of most cryptocurrencies is expressed in Bitcoin because it has the largest market cap and daily trading volume of all cryptocurrencies by a very large margin and because with a few exceptions (Ethereum, Monero) most cryptocurrencies do not have routes to directly purchase via fiat currency without first purchasing Bitcoin.
Liquidity is super important. People often complain about a market lacking liquidity but that is often because they are trading in fiat volumes which far exceed the daily trading fiat volumes of the cryptocurrency they are referring to. If you are investing or trading in a cryptocurrency, always factor in the your personal liquidity and need for liquidity relative to that of the cryptocurrency you are investing in. In other words don't expect to make a profit next day selling 'cryptocurrency x' if the size your single buy order composes >90% of the buy orders on the market for 'cryptocurrency x' that day (indeed in such a scenario be very prepared to sell at a loss next day if you absolutely have to)!
There are certain patterns on a depth chart that make me believe a significant, sustained price rise is imminent: One example occurs when there is a very large volume of buy orders (>25% of total buy volume within 5% of current price) very close to the current (spot) price, and a very large number of sell orders close to but significantly above the spot price (approx 25% total sell volume within 10% of current price) and especially if the total buy order volume is a significantly higher percentage than it has previously been. This simply indicates high demand at current price which may soon outstrip supply. Again I stress that these patterns can be manipulated easily by wealthy traders.
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The order book is another way of looking at the depth chart and allows you to see the specific transactions occurring that compose daily trading volume by the second!
I find it useful because it allows me to identify:
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The price charts:
Discussions about price charts could be endless. I'm not going to go into too much detail, mostly because I'm an investor who believes the value proposition, good consistent development, decent marketing and communications will ultimately trump spot prices and adverse (or positive) short term price trends in the future.
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The news cycle:
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Other interesting points: The 'coin x' scenario and the ridiculousness of marketcap:
'Coin X' is an imaginary hypothetical coin. There are only 10 in circulation. It has no value proposition beyond it's speculative value i.e. it will never generate a revenue independent of it's speculative value.
I'd like to point out the similarities between ZCash and 'coin x' (especially during it's launch).
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Lessons:
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Finally why am I writing this?
I mean I just spoke openly about how SDC and indeed any cryptocurrencies (or purely speculative assets) price can be manipulated in the short term.
Well SDC has an incredible value proposition that could generate and attract large amounts of non-speculative fiat currency into it's ecosystem. I already covered that in part 3a (https://www.reddit.com/Shadowcash/comments/5lhh6m/the_intelligent_investors_guide_to_cryptocurrency/).
For this reason I think the short term speculative pump and dumps in SDC will eventually be replaced by a more sustained, larger buy support. I suspect this will occur when the marketplace is released and certain other announcements are released.
For this reason I declare my opinion that Shadowcash is the best cryptocurrency investment of 2016 and I believe it will be again by March 2017.
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References:
1. Coinmarketcap rankings: https://coinmarketcap.com/all/views/all/ 2. Coinmarketcap daily trading volumes https://coinmarketcap.com/currencies/volume/24-hou 3. Bitinfocharts - Top 100 Richest Bitcoin addresses: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html 4. Crypto ID - Shadowcash Rich list: https://chainz.cryptoid.info/sdc/#!rich 
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Disclaimer: All prices and values given are as of time of writing (Midday 08-Jan-2016). I am not responsible for your financial decisions, nor am I advising you take a particular financial position. Rather I am sharing my experiences and hoping you form your own opinions and insights from them. Full disclosure: I have long positions in Ethereum (ETH), Shadowcash (SDC), ICONOMI (ICN), Augur (REP) and Digix (DGD).
submitted by joskye to Shadowcash [link] [comments]

Partial translation of long Chinese article regarding the recent actions of PBOC

https://www.sosobtc.com/article/24259.html
The following is a rough/partial translation of the article "Reflections on the present situation of Bitcoin and thoughts on its future" provided in the link above
Two hurricanes swept through the landscape as the summer season trails off, instead of uprooting trees and destroying houses, it ravaged through the Bitcoin markets.
In early September, Chinese authorities made an announcement banning Initial Coin Offerings (ICO), this was shortly followed by a second official statement regarding the closures of Chinese cryptocurrencies exchanges. These two statements triggered a flurry of selling off and caused a massive upheaval in cryotocurrency markets.
This author had anticipated these actions from PBOC, and was perhaps, even an unwitting instigator (in the most minor sense possible) for the current turn of events. A few days back, this author had suggested that PBOC should just shut down Bitcoin mines and exchanges in China, thus allowing an easy way out for the central bank to abscond itself of any “supervisory responsibility” over this burgeoning industry. This would also ensure that Bitcoin markets would open to develop organically in a democratic, autonomous manner, free from constant irrational interference of the Central Bank. Nevertheless this author still found it surprising that the typically indecisive PBOC would take such a drastic action within such a short time.
In the author’s opinion, there are three main factors, and three minor factors that lead to this latest decision by PBOC. Here are the 3 main reasons:
1) The increasingly unwieldy size of the Bitcoin market
First, let’s keep a few figures in mind. 1) In 2015, based on the limited amount of information available to the public; China UnionPay the crown jewel of PBOC disclosed a profit of 3.8 billion CNY, and held 66.5 billion CNY worth of assets. 2) 220 billion CNY; stamp duty revenue generated from securities issued by CSRC.
Now, consider the size of the Bitcoin industry in China. China holds approximately two thirds of Bitcoin currently in circulation, ~10 million Bitcoins. Before the most recent market upheaval, Bitcoin’s value was holding steady at around 30000 CNY (4500 USD), hence according to this approximation, Bitcoin holders in China is controlling 300 billion CNY worth of a highly liquid, easily transacted wealth that is not subjected to regulations and jurisdiction by the Central Bank and Ministry’s of Finance. In a space of a few short years, the amount of wealth held by Chinese citizens in Bitcoin has now swelled to a very significant amount that’s on the scale of annual military spending of nations such as India and Russia (55.9 billion and 69.2 billion USD respectively, estimated Bitcoin holding in China 45 billion USD (when price was at 4500 usd)
Now that the days of exponential Chinese economic growth driven by its manufacturing industry is over, various ministries are trying all sorts of different methods to promote economic growth. However, for all their efforts to promote and cultivate a new multibillion industry, their achievements pale in comparison to the Bitcoin and cryptocurrencies industry which had slipped right under their noses and is now thriving. It is easy to conjecture that the success of this new, non-government sanctioned industry is a slap in the face for archaic and control hungry Chinese party officials.
Following the runaway success of Tencent and Alibaba, two recent multibillion companies which the Chinese State failed to put their finger in, Chinese officials are now determined to nip the Bitcoin industry in its bud before it blossoms into another non-state sanction success. This vindictive and petty type of thinking is rather typical, and to be expected of the current administration.
2)Disruption of the societal hierarchy
The social hierarchy of China is still largely determined by state-owned monopolies. The distribution of public wealth and resources like real estate, mining rights, and business permits etc. are dictated by those wielding power in state enterprises. The immense wealth generated by these essentially risk free businesses is only accessible to relatives of high-ranking officials and fellow insiders, i.e an oligarchy.
However the wealth generated from the Bitcoin industry which was essentially started by a bunch of tech enthusiasts with some old computers, a few lot of GPUs, and self taught mathematical models. This completely circumvents the typical route to wealth and riches as dictated by the state, and is a threat to the way they constructed the society to be. Hence, the Bitcoin industry must be stopped and to be made an example of.
Business owners in cahoots with state officials also resents the Bitcoin industry greatly, like how they resisted e-payment systems like Alipay, WechatPay, or e-communities such as qq and Wechat initially. These business owners are essentially power brokers, where their greatest asset lies in their ability to act as an intermediary between private enterprises and the State, if new businesses no longer require the blessing of the state to prosper, then as the unofficial toll collectors would surely be starved.
3)The inequality of wealth distribution arising from the Bitcoin industry
The frontrunners and greatest benefactors of the Chinese Bitcoin industry had been young tech enthusiasts. Typically young males in their late 20s, and as the price of Bitcoin boomed, they became a very conspicuous bunch of newly rich. These quickly drew the ire of the Chinese community, “your dad isn’t some powerful Chinese tycoon or government official, what did you do to deserve to get rich so quickly!” was the unspoken sentiment of the public. As more and more stories about the overnight success of Bitcoin mining/trading enterprises received inceased media coverage across 2016, the Chinese were driven into frenzy on this new source of wealth. One portion of the public started to throw their hats into the ring, by exploiting the fact that the public by large only possess a half-baked understanding of cryptocurrencies. These newcomers posed themselves as some sort of Bitcoin sage, and immediately started advocating all sorts of altcoins and cryptocurrencies to enrich themselves.
Another portion of the public started to horde towards these so called bitcoin sages entrusting them with their hard earned money so that they can be a part of this exciting new industry. The fact that they lost money has nothing to do with the Bitcoin industry, but is solely due to the fact that they did not educate themselves properly and allowed themselves to be taken advantage of by some unscrupulous individuals.
But the largest portion the public became increasingly envious of the success achieved by the frontrunners in the Bitcoin industry, feeling that it’s too late to join the bandwagon, and angry that all these newfound wealth had completely eluded them, they began to sound their frustration, demanding the closure and banning of the new arcane industry that they had missed out on.
In recent years, financial crisis in China had always originated from State-controlled markets such as the stock exchange, Forex or the real estate industry. As the Chinese people grew increasingly distrustful of these State-controlled industries, the self-regulated Bitcoin industry emerged as shining beacon of success. The relevant authorities took note of the public dissatisfaction with Bitcoin and decided to go with the flow, assuaging public outrage while at the same time, diverting attention away from their own failures in issues such as the unaffordable real estate prices that's currently paralyzing the young Chinese community.
The aforementioned three factors are deep rooted, and would always be a core reason for the Chinese government to stamp out Bitcoin. Here are three more minor reasons, which are more circumstantial and technical in nature:
1)The contentious hard fork leading to discord among the Bitcoin community
Ever since Bitcoin splitted into Bitcoin Core and BitcoinCash, the community has grew increasingly partisan. This animosity between the two factions had damaged Bitcoin, and some people had decided to exploit this divide. The statement from James Dimon about Bitcoin being a scam was quickly picked up by Chinese officials to clamp down on Bitcoin. The credibility of his statement is dubious, seeing that JP Morgan was just as complicit as Lehman Brother’s was during the 2008 financial crisis, and really should not be calling out other people for being a scam. However, Chinese officials quickly took his words as gospel, after all enemy of an enemy is a friend. This crackdown essentially kills of the new Bitcoin blockchain advocated by the Chinese Bitcoin community (i.e Bitcoin Cash), so in a sense the state officials are modern traitors, by siding with foreigners and their view of Bitcoin.
2)Bitcoin market is still too naïve and immature
Even before the Bitcoin hardfork was concluded, exchanges started listing tokens representing BitCoin Cash for trading. This action in particular hastens the decision by Chinese authorities to clampdown on Bitcoin. This decision is simply reckless and irrational, as it lies in complete betrayal of what Bitcoin stands for. Bitcoin is the time tested, gold standard among cryptocurrencies because every single bitcoin is forged by miners, this is what that makes Bitcoin secure and distinguishes it from the many other altcoins that currently exisits. Bitcoin is more than just a currency; it has solid proof of work backing it up. By simply listing BCC tokens before they are mined. What the exchanges are doing is no different from the central bank issuing fiat currencies, and by stepping into the domain of the central bank, Bitcoin exchanges now have painted a huge bulls eye on its back
3)Too much speculators, opportunists joining the fray
In the few weeks prior to this crackdown, i.e when Bitcoin was at its all time high. Figures in the financial world that used to jeer at Bitcoin started to change their tune. They popped out like mushrooms after rain, claiming that they too want to join this exciting new industry, be it as a miner, a day trader or to start blockchain companies. In hindsight, these are clear indicators that the Bitcoin market is overheated and is due for a correction.
Three years ago, when Bitcoin was worth around 1000 CNY, it was clearly a good, underpriced product with a clear utility and huge potential for future growth, but not a lot of people were buying it. However, now that the price had climbed all the way to 30000 CNY, people are rushing to get more of it. There was clearly a bubble, and that’s why this author started exhorting for PBOC to crackdown on Bitcoin and pop the bubble.
submitted by wombatdowneyjr to Bitcoin [link] [comments]

A financial expert's very negative outlook on Bitcoin.

Hello there people of reddit!
I have translated this blog post which I would like to share with you all. The original blog post appeared in a rather famous hungarian financial blog and it posed some interesting questions. It would be really good if the intelligent people of reddit would start a debate on these topics. There is a big learning opportunity here. I personally disagree with many of the points made in the post while I agree with some of them.
I think that it is important to listen to the negative opinions because we can grow from them and we can either strengthen our opinions by disproving the counter-arguments of others or we can formulate and fine-tune our opinions by accepting partial truths from the opposing opinion. (Maybe we can even change our opinions alltogether in some cases) I post this in the hopes of having an intelligent conversation about the topic and it would be a bit sad if this would get downvoted because then the conversation wouldn’t be able to unfold.
I say let's examine the other side, let's look at their arguments, let's try to understand them and let’s try to learn from them so that we may become smarter, better, and more well informed.
Also this can be a very good test if you think about investing in Bitcoin. If this discourages you then your fundamental knowledge of cryptocurrencies or Bitcoin may not be satisfactory yet or you may be thinking about investing with money what you cannot afford to loose
So without further to do here is the actual blog post translated from kiszamolo.hu.
RTT314
I am writing about Bitcoin. I didn’t want to at all but since everybody is talking about it I had to.
Translator's note: There was a previous blog post about Bitcoin which got a massive amount of feedback in the hungarian community.
The general feedback I received about my previous post on Bitcoin wonderfully resembled the the feedback I got when I wrote about Kairos, Emgoldex, Quaestor and Sitetalk. (these were all scams in their times)
In case you don’t have time to read the comments on my previous post I’ll summarize them for you. Its quite simple because people basically write the same thing all over again (Bitcoin or Emgoldex it doesn’t matter.) The comment categories are as follows:
It’s a good idea to look at those people who wrote these comments a few years back. The people of Kairos who came here (to his blog) taunting and showing off their earnings with Kairos. And then all of a sudden it became apparent that it was just another scam and they lost all the money in a heartbeat.
What did I cover in the previous blog post on Bitcoin?
I wrote, that you don’t know anything about Bitcoin, that you don’t know who is behind it or whether there is someone behind it or not. What gives actually Bitcoin’s value? How do we know that its better than the other cryptocurrencies? How do we know if one BTC is expensive for 1000 dollars or cheap? For a long time people bought it for 1 dollar, then for a long time for 100, then 1000 and now 16 thousand. Which price is the realistic one? Or none of it is realistic and its still cheap? How can I find it out?
I have basically nothing at all to which I could compare its price. Just like in the dotcom bubble when it came to evaluating the .com companies. The normal method of evaluation didn’t work when it came to these companies because everybody wanted to think, that these companies can conquer the whole world. And because of that basically no price was too expensive for a share. And then it became apparent, that in fact even a single dollar was too much for 95% of them.
Just because something is revolutionary and new it doesn’t mean that it has value too. Especially when anybody can copy it freely. This happened with the .com companies too. Everybody learned fast, that just because they are innovative and revolutionary they can’t make a profit and most of them didn’t even worth a penny.
And the .com companies were 100 times easier to evaluate than Bitcoin. At least they had expenses, profits, employees, products and patents. You could at least calculate with something.
Why is Bitcoin considered money? Currently it has none of the properties of money - you can’t pay with it everywhere, it’s exchange rate is not stable at all and because of that it is not suitable for accumulating wealth in it (just in the past 12 hours the price of one BTC was between $16.123 and $17.023 and today is one of the calmer days.)
Anybody can invent a newer Bitcoin and people do so too. There’s almost ten times more cryptocurrencies today than normal currencies in the world and almost every day a new one gets listed. This is because anybody can make a cryptocurrency. You don’t have to have a whole country behind it with its total assets, government, and financial traffic. If you have good marketing you will be a millionaire from a new cryptocurrency. Currently there are 1324 cryptocurrencies and there is almost no day when no new ones are added. On the contrary there is only 180 types of traditional currencies in the world.
I also mentioned, that governments can limit the use of cryptocurrencies any time by illegalizing the exchange of cryptocurrencies to real money. And if that happens all cryptocurrencies will be worthless in a blink of an eye.
I don’t want to get into new ideological debates. I just want to place Bitcoin amongst all the hype into the world’s financial traffic. Where does Bitcoin stand compared to the current world’s financial traffic and does it look like a bubble? Will it really change the world’s financial system and will it really change the old technologies?
Bitcoin’s total market cap was 15,49 billion dollars on 2017 January the 1st and what’s at least as important is that the daily traffic volume was 92 million dollars.
https://imgur.com/a/kI0Ru
Bitcoin’s current market cap (17 thousand dollars) is 289 billion dollars and the daily traffic volume is 12.135 million dollars so the daily traffic grew 131-fold since January the 1st.
One of the world’s biggest bank - the Bank of America’s - market cap is also 300 billion dollars and that is accompanied by 2,228 billion dollars worth of assets which gives one of the basis of the actual evaluation. Bitcoin has zero assets. Bank of America every four months (!!!) profits 22,3 billion dollars and one fifth of this is net profit. The profit of Bitcoin is zero and the net profit of Bitcoin is also zero.
Europe’s 16th biggest economy, Finland has a yearly GDP of 236 billion dollars.
If Bitcoin’s market cap doubles again, it’s market cap will be equal to Hungary’s, Ukraine’s, Slovakia’s, Luxemburg’s, Croatia’s, Bulgaria’s and Latvia’s GDP all together. Or at least on paper. (Of course the actual BTC's market cap and the GDP is very different, but i guess you can still feel the nonsense in this)
People make 337 thousand daily transactions with Bitcoin.
Just Visa alone makes 468 million transactions per day and this is just a tiny slice from the total world’s transactions.
The SWIFT system which is used by banks to make international transfers even 12 years ago made 5 thousand billion dollars worth of traffic. Daily.(!) The similiar Fedwire payment system which works in the USA had a daily traffic of 2,1 thousand billion dollars, the CHIPS had 1,4 thousand billion dollars. And these numbers are 12 years old so you can easily double them to get to the present numbers. And this data is only of three clearing houses out of a dozen! All the national clearing houses in total can have multiple hundred times more traffic than these ones.
Even if we would like to use Bitcoin for just one tenth of the traffic of Visa we would soon have to store a few gigabytes then terabytes of data for each Bitcoin. The whole electricity generation and bandwidth of the world wouldn’t be enough if we would want to manage and transmit this much data constantly. (Even now the Bitcoin network uses more power than Bulgaria. The investors who mine Bitcoin spend money mostly on video cards and electricity. The biggest benefitors of Bitcoin are the chinese electricity providers and the video card companies. Even a whole bank system doesn’t use this much electricity and they execute multiple hundred thousand times more transactions than the Bitcoin’s network.)
The technology is unsuitable for microtransactions. There are cryptocurrencies which are suitable for this but what will happen with you investment in Bitcoin when everybody starts to use one of these currencies?
The future of the blockchain technology is completely different from the future price of Bitcoin which currently is just one out of 1324 cryptocurrencies and for which you paid a bunch of money. Somehow the people who kick back and leave their future on the price of Bitcoin don’t want to understand this.
Just so you understand: I don’t argue whether or not blockchain technology (which is used by Bitcoin too) will be used in the future financial system. I argue whether or not one Bitcoin values 17 thousand dollars or even one dollar as a matter of fact.
Do you think there will be a single bank which will choose exactly Bitcoin when it wants to switch to this new technology when Bitcoin is a completely unsuitable candidate? Or do you think that the bank will choose another cryptocurrency? Won’t the bank simply make its own one?
The total value of all the dollar bills in circulation is 1,59 trillion dollars or 1590 billion dollars. If we look at the M3 (unbounded money in bank accounts, bills etc.) instead of only the bills we get 11 trillion dollars. But even this is only a tiny bit compared to the total assets in the american economy which is 220 trillion dollars.
The daily size of the forex market is (!) 5.100.000.000.000 dollars.
So think again when you see numbers which suggest that Bitcoin is the future. I wrote these numbers just so you can get a sense of the big Bitcoin which is about to knock down the world’s banking system. Just so you can understand the big Bitcoin’s place in the financial food chain.
I’d also like to talk about a common misconception. Many people think that the value of Bitcoin comes from the fact that it’s very expensive to maintain. The mining is expensive. This is called an expense and it has no relation to value whatsoever. Things don’t represent value because they are costly to maintain. This is exactly the opposite of value. The more expensive is something to maintain the less valuable it is. Companies which have small costs value more than companies which have big costs with the same profits.
There’s an old trick in the stocks market called pooling. A few scammers organize into a pool, they choose a smaller stock and they start to trade amongst each other with higher and higher prices. They just have to be careful not to catch attention. They have to increase the price gradually and slowly and the pool has to be big enough in order to stay undetected.
When the whole world goes crazy because of the huge gains on the pooled stock and when everybody wants to be a part of the miracle the pool quietly sell the whole stack of stocks and disappear.
The “investors” which are driven by greed don’t even care about the fact that the evaluation of the stock flied far above the actual value of the stock. How much simpler is this whole move when the given thing doesn’t even have a quantifiable value to which you can compare it to? Bitcoin is exactly like this.
I wonder how are Bitcoins divided amongst the wallets? Could you drive up its value by getting into pools? You can’t drive up its value because it doesn’t even have any inherent value. The value of Bitcoin only comes from the people who are willing to pay for it. Bitcoin only has a price because people want to look at it as money even if it cannot function as money.
The american dollar will have value until the United States exists and its government collects taxes in dollars from the world’s biggest economy and it pays its payouts in dollars. And if someone doesn’t want to pay the requested taxes in dollars the government has the power to imprison the person.
The expression of total financial ignorance is when the believers of Bitcoin state that the real currencies are also based on nothing. The real currencies are just paper too without any value. Every real currency is backed by real value: the given country’s economy, assets, government, tax system give real value to the real currency. No cryptocurrency can present anything like this ever because cryptocurrencies are made out of thin air.
Real currencies can function exactly because of this: because they have value too not just a price. This is why they can be a store of value, this is why they can be accepted in trade. Because tomorrow they will be worth just as much as today. They’re not just empty ping pong balls which are moved based on the needs and wants of the buyer. Potentially 10-20% per day.
(Just for the sake of the smartpants: of course after world wars a real currency can lose value too just like how the syrian fiat lost value too when the value was essentially bombed out of it. The country’s economy collapsed and half of the taxpayers died or fled out of the country. But even this shows exactly the fact, that the price of the currency changes if the inherent value changes. And also the the price of the safety fiats (swiss franc) can be pumped up if investors are panicking. But we only know that their price is high compared to what their value is because it has a value.)
Just because I invent the Reddit coin and create a lot but finite real physical coins it won’t be a currency which has value. Not even if the coins are unfalsifiable. Not even if there will be people who are willing to pay real money for my coins. Not even if other people realize that they can make coins just like me any time (that’s why there are already 1324 types of cryptocurrencies on the market) It won’t be real money even if following the current trend I create this Reddit coin as a cryptocurrency. Money doesn’t become money because I say its money. Neither does it become money because other people believe its money.
But let's take a look at the bitcoin wallets amongst the investors:
https://imgur.com/a/WN163
So basically 97,2% of the wallets doesn’t even own a single bitcoin! And 55,5% of the wallets doesn’t even contain 0,001 bitcoin!
Of course a wallet is not necessarily a person but its apparent that there are many small fish in the sea of Bitcoin. It's good to know this when you read all the comments from the people who try to defend Bitcoin no matter what. Most of them don’t even own 700 bucks worth of bitcoin but they will become rich for life from this investment.
0,01% of the investors - 1.677 people own nearly 40% of the total bitcoins available. (Or it may be that these 1.677 wallets are owned by one person or twenty. We can’t even know that) but even 85% of the total bitcoins is in less than 1% of the wallets. In stocks lingo this is called a low free float.
These people are the ones who manipulate the prices however they want it to. But of course they don’t want it to because why would they want such a thing? The prices are rising just because Bitcoin is the future.
If Bitcoin wouldn’t be the Holy Bitcoin it would be simply called a Ponzi scheme. How does a Ponzi scheme look exactly? They build up a system which is new, which is alluring and about which people can believe that it’s the future. From this you’ll become rich. If you pay enough money now then you’ll be the part of the money rain too. Until more people are buying in than out the Ponzi scheme works great. Nobody realizes that there’s nothing behind it. Just the money of the depositors gives it value.
Bitcoin is genial because it never even stated that there is some sort of value behind it so you can’t even expect it in the first place. Until more people want to put money in than out the price of Bitcoin will rise. I’ll say this again Bitcoin is alive because people want to treat it as money. “This is the money of the future, you are lagging behind if you don’t understand this. Why do you try to find the inherent value of it and the evaluation of it? You are an old prick who has no clue. This is a new world. Deal with it. You have to just believe this and don’t ask any questions.” Do you know how many times have I heard this from the faithful “investors” of the kairos, sidetalk, emgoldex ponzi schemes?
A lot of people wait a lot from the december 18th stock appearance of Bitcoin but it can bring more bad than good. If the big speculators start to go hard on it they can double the price or drag it down to 0 within days. It's rather easy for them because there is no value behind it. Just a price tag. If the British Pound was attacked what do you think what will they do with Bitcoin? Here there is no national bank which will change the interest rates or pull other tricks from its sleeves to defend its own currency from falling or from a rising. Also here the investors won’t be able to say that a bitcoin is definitely worth more than this or not because the whole english economy is not behind it so they don’t have a guide for its inherent value. If Bitcoin was volatile so far you can prepare yourself for even bigger storms.
You think whatever you want and you pay money for whatever you want. You know what? Even I’m telling you that knowing the madness, dumbness, and greed of people it is not unimaginable that Bitcoin will rise to 150 thousand dollars within the next year. But not because its value is that much but because there are too many greedy people who feel like they were left out of a great opportunity but it's not too late to jump in.
But also don’t be amazed if its price will be 1 dollar again.
submitted by RTT314 to Bitcoin [link] [comments]

The intelligent investors guide to cryptocurrency: Part 3b - Pricing and liquidity

*Introductions: I'm joskye. A cryptocurrency investor and holder. *
...
 
Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
 
 
Part 3b continues where I left off with a discussion about price metrics specifically, what determines the price and the importance of liquidity:
...
 
The day traders:
 
As I mentioned in my previous article, as of writing almost every cryptocurrency is determined purely by speculative value.
 
 
For instance in cryptocurrency Bitcoin is still the biggest player in the game. It carries a per unit price of $900 per coin. There are currently 16,090,137 (16 million) coins in circulation giving it a total marketcap value of [$900 x 16090137 =] $14481123300 or 14.48 billion USD.
 
 
Shadowcash looks even more meagre compared to the total cryptocurrency marketcap with only 0.048% of the total cryptocurrency sphere.
To any Shadowcash holders despairing at this point, relax. There are over 707 cryptocurrencies trading as of writing and SDC holds the 27th ranking in terms of market cap. In such a competitive field, filled with scams that's pretty good. Moreso when you consider that SDC is a legitimate technology and is currently probably very undervalued.
...
 
Lets look at the rich list for bitcoin:
 
Why did I just talk about this?
 
In cryptocurrency I see this happening on the markets all the time. Indeed market manipulation effects every single cryptocurrency eventually.
...
 
Market manipulation!
 
Large holders of valuable, high marketcap coins will often make multiple small volume purchases of less valuable, low marketcap coins. Often this will follow announcements regarding developments in that low marketcap coin.
 
 
Low volume buying in a market with low daily trading volume can gradually drive up the price attracting an influx of buyers into that coin; often they will make larger volume purchases of it which helps drive up the price much further. This will trigger a further chain of buyers experiencing FOMO (fear of missing out, detailed in Part 2) who will drive up the price even further. The price will pump. Often will smaller cap cryptocurrencies this may result in a sudden 20, 40, 60 or even +100% increase in value often over a very short time space (1-2 days, 1-2 weeks maximum).
 
 
The only way to discern if the sudden rise in coin value is due to pre-rigged market manipulation is to look at:
 
You are looking for organic, gradual growth based on a solid value proposition. Sudden large spikes in value should make you pause and wonder if it's worth waiting for a gradual correction (organic drop) in price before entering your buy order.
 
Do not fall for a pump and dump. Stick to the lessons covered in previous parts of this guide (especially part 3a and 2) and you will be much less likely to lose money in the long run trading and investing in cryptocurrencies.
...
 
The pattern of change on daily trading volume, the order book and liquidity:
 
Lets look at SDC and Bitcoin again. This time we are going to compare the daily trading volume (last 24 hours) in USD.
 
 
I'd just like to use this opportunity to point out and reinforce the idea that day traders not holders dictate the daily price of an asset. I'd also like to point out daily global trading volume on Forex is $4800 billion which makes Bitcoin a very small fish in the broader arena of global finance and trade i.e. Bitcoin is still very vulnerable to all the price manipulation tactics and liquidity issues I am going to be describing in this article by bigger players with richer pockets.
 
 
The daily trading volume also gives you an idea of how much fiat currency you can invest into a given cryptocurrency before you suddenly shift the price.
 
 
A sudden rise in coin price heavily out of proportion to the rise in daily trading volume should be the first sign to alert you to a pump & dump scam.
 
Daily trading volume should show a steady increase over time with sustained buy support at new price levels; this is a good marker of organic, sustainable growth.
...
 
For more detail you can now look at the depth chart:
 
The depth chart is very useful to know how much fiat currency is required to cause the spot price of a given cryptocurrency to rise or fall by a given amount.
 
NB the price of most cryptocurrencies is expressed in Bitcoin because it has the largest market cap and daily trading volume of all cryptocurrencies by a very large margin and because with a few exceptions (Ethereum, Monero) most cryptocurrencies do not have routes to directly purchase via fiat currency without first purchasing Bitcoin.
 
Liquidity is super important. People often complain about a market lacking liquidity but that is often because they are trading in fiat volumes which far exceed the daily trading fiat volumes of the cryptocurrency they are referring to. If you are investing or trading in a cryptocurrency, always factor in the your personal liquidity and need for liquidity relative to that of the cryptocurrency you are investing in. In other words don't expect to make a profit next day selling 'cryptocurrency x' if the size your single buy order composes >90% of the buy orders on the market for 'cryptocurrency x' that day (indeed in such a scenario be very prepared to sell at a loss next day if you absolutely have to)!
 
 
There are certain patterns on a depth chart that make me believe a significant, sustained price rise is imminent: One example occurs when there is a very large volume of buy orders (>25% of total buy volume within 5% of current price) very close to the current (spot) price, and a very large number of sell orders close to but significantly above the spot price (approx 25% total sell volume within 10% of current price) and especially if the total buy order volume is a significantly higher percentage than it has previously been. This simply indicates high demand at current price which may soon outstrip supply. Again I stress that these patterns can be manipulated easily by wealthy traders.
 
...
 
The order book is another way of looking at the depth chart and allows you to see the specific transactions occurring that compose daily trading volume by the second!
 
I find it useful because it allows me to identify:
 
...
 
The price charts:
 
Discussions about price charts could be endless. I'm not going to go into too much detail, mostly because I'm an investor who believes the value proposition, good consistent development, decent marketing and communications will ultimately trump spot prices and adverse (or positive) short term price trends in the future.
...
 
The news cycle:
 
...
 
Other interesting points: The 'coin x' scenario and the ridiculousness of marketcap:
 
'Coin X' is an imaginary hypothetical coin. There are only 10 in circulation. It has no value proposition beyond it's speculative value i.e. it will never generate a revenue independent of it's speculative value.
 
 
I'd like to point out the similarities between ZCash and 'coin x' (especially during it's launch).
...
 
Lessons:
 
 
...
 
References:
1. Coinmarketcap rankings: https://coinmarketcap.com/all/views/all/ 2. Coinmarketcap daily trading volumes https://coinmarketcap.com/currencies/volume/24-hou 3. Bitinfocharts - Top 100 Richest Bitcoin addresses: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html 4. Crypto ID - Shadowcash Rich list: https://chainz.cryptoid.info/sdc/#!rich 
 
...
 
Further articles in this series:
 
"The intelligent investors guide to cryptocurrency"
 
Part 0 -
Part 1 -
Part 2 -
Part 3a -
Part 3b -
Part 4 -
Part 5 -
Part 6 -
Part 7a -
 
"The intelligent investors guide to Particl -"
 
 
Full disclosure/Disclaimer: At time of original writing I had long positions in Ethereum (ETH), Shadowcash (SDC), Iconomi (ICN), Augur (REP) and Digix (DGD). All the opinions expressed are my own. I cannot guarantee gains; losses are sustainable; do your own financial research and make your decisions responsibly. All prices and values given are as of time of first writing (Midday 8th-Jan-2017).
 
Second disclaimer: Please do not buy Shadowcash (SDC), the project has been abandoned by it's developers who have moved on to the Particl Project (PART). The PARTICL crowd fund and SDC 1:1 token swap completed April 15th. You can still exchange SDC for PART but only if it was acquired prior to 15th April 2017 see: https://particl.news/a-community-driven-initiative-e26724100c3a for more information.
 
Addendum: Article updated 23-11-2017 to edit references to SDC (changed to Particl where relevant to reflect updated status) and clean up formatting.
submitted by joskye to Particl [link] [comments]

ERIC HO

This post was created as I felt compelled to share my experience with Eric Ho's mentorship program that I'd signed up to, along with about 10 other mentees and paid £12,000 each for 1-year program. To provide authenticity of my account, I have provided PROOF of the receipt, plus his "up sell" to other programs, and how he boots people out at the end and there is no more contacts with him whatsoever. I have also found other website, where people have complaining and have lost money, like I had done. I will post the link below in the message, and it shows Eric Ho's company details from Gov.uk's Companies House, which are not worth what he claims, in fact many are in debt & closed down..
 
Here, I CHALLENGE Eric Ho to comment below this post if he thinks this is an unfair account, as he commented on his Facebook saying how this is not a true reflection of his program... I can provide PROOFs of all the accounts & experience detailed here, from other ex-mentees and how we'd all suffered and lost our savings, with no real value in the end... and if I can provide these proofs, will Eric Ho refund all our payments? Come on Eric Ho, I challenge you.. If you are honest, you should be able to take up this challenge than just comment in your FB..
 
First, see a link below, for the proof that I was his ex-mentee, so my details below comes from after going through his mentorship program, and it shows further proofs of "up sell", and how he booted everyone out in the end, and how we were only given 7-days to ask for our refund or else your payment is vanished!! And how is anyone suppose to know within 7-days that the mentorship was not a valuable program and it was full of "motivation" rally within a week of signing up?? See: https://drive.google.com/open?id=1QT9POxakgkIrXFEQN8uS4VqtEcD08F89
  See other people complain about Eric Ho's scam, and John Lee, and their method, which is just telling stories after stories and showing pictures of their success and cars (some outside the car show room) and claiming to be very successful, when they are not... company house record shows average financial statement.. https://www.propertytribes.com/eric-ho-t-127631542.html
 
Eric Hor, was introduced in one of John Lee's of Wealth Dragon seminar. There were bunch of us in the mentee group, mainly women who seemed vulnerable and naive i.e single mothers and old ladies. Eric Ho operates from his website, erichoofficial.com & hakademy.com.
 
Eric Ho promised a lots of things prior to signing up to his program and he promised all the mentees that he would help them to launch their business and in many cases, collaborate with his existing business and provide a platform and contacts to leverage our business... hence, paying £12,000 is worth it, in fact its cheap! However, it was far from that.. It became obvious after a few months, and until this point, it was all "motivational" stuffs i.e. meeting up with the group of mentees for dinner and drinks after one of his seminars in London and during these meet ups it was mainly him posting live videos on YouTube with bunch of mentees for his own marketing campaign (to show people what a good time we are all having and to get Likes and Shares). However, secretly many of his mentees were suffering as we forked out £1000 monthly towards his program and it was costing us more than our monthly mortgage payment!
 
Time goes fast, you set appointment with Eric whenever he is in London, but he sees all of his mentees after his 2-3 days seminar, where he is tired after long event, so it's rushed through as only 30mins appointment, and given generic advices and he is seeing mentees one after another.. During this appointments you go there and wait, he is talking to another mentee, then your turn comes, as you start the meeting, you see the anotehr mentee waiting for you to finish the meeting... so Eric Ho is in a rush to see you off. Hence, advices are given on the spot... He even forgets the last conversation you've had with him and repeats many comments / feedback that was given in the last appointment, as he sees all the mentees + new followers (to sign them up for his program) on that day... the new followers are far more important to him as they are a potential leads for another 12k per person and since we've already paid our fees and locked in the contract... we are a less priority for him. He forgets the action plan you had discussed with him in the last meeting and its clear that he cannot keep track of all his mentees seeing one after another after his long 2-3 days seminar event... He is very tired and gives you generic marketing advice. And when you make progress or need some suggestions from Eric Ho, our "mentor", he is out out of the country, somewhere overseas, posting videos from the beach about his luxurious lifestyle, flying business class flights and showing off his latest branded watch! and you are there stuck and unable to contact him or in the best case you receive a messages on Wats App. And that’s all...
 
You wait for him to return, but then you see another video from another part of the world, again, marketing himself and his seminars, and his new gadgets or a catchy video title and image of him and his latest girlfriend. Talking about his girlfriend.. he keeps using them in his video, to get likes and views, then after a year or so, there's a new girl and the old one is never seen again! And his new girlfriends are the seminar audience! At this time you start to doubt if Eric is serious about business. A true business man, a mentor should be there for you and know and care abot your business as much as you do.... not posting 5 videos, and 10 selfie a day! Think about it people.. his mind is occupied by social media posts and videos, and all he wants is NEW leads so he can generate additional fees... once you have paid, you are yesterdays newspaper to him..... You true business personnel dont act like this i.e. Fortune 500 companies executives, FTSE 250 leaders don’t act like a child showing off their new toys on a social media with his cars, watches, house etc.. Its unbearable as you begin to wonder that your payment is actually funding his lifestyle and his latest gadgets, and you are cant even reach him!
 
You begin to wonder and talk to other mentees and they all feel the same but no one dares to confront him as he is "so nice" and always so "positive" talking about "motivational stuffs", a sage, guru, who acts like one of those religious cult figures that brain washes people and builds up followers for his ulterior motive. The key here is, get likes and shares from Facebook, Insta, YouTube etc.. then get them to attend the seminar and then use classical sales technique i.e. "one day offer only" and sign them up for 12 months contract, where you can only ask for refund within 7 days (terms) and its impossible to know that you wont get any value within 7 days, so now you are locked in the contract and if you miss payment, Eric Ho and John Lee (Wealth Dragon) will send you red letter to take you to Debt Recovery and send bailiff to your house... and they have in-house lawyers workling for them, who emails you warning you of the consequences.... then you get worried and also have no time to go to the court and pay additional fee to solicitors not knowing you might lose more money because you have signed the contract... so you keep quite and pay the 12k!!! "Its numbers game" as they say... for example, get 100 likes and views, from that, get 20 people to seminar, then get 1 person to sign up and lock in 12 months contract... thats 12k! Now multiply this by few hundreds and thousands, then there you have it.. About 30-40 mentees a year, plus now "UP SELL" their other products, i.e. Public speaking, Forex, Property investments, Heath & Fitness, Spiritual mind etc.... thats their game! And make you bankrupt!!
 
By the way, if you want to learn Public Speaking, then just join your local Toastmasters club, where you will only pay between £50-£60 for 6 months!! with every 2 x weeks meetings, it will cost you more or less the same price of a coffee/tea per meeting. Toastmasters is everywhere, almost in every country. I have now completed almost my 10th speech. One thing about Public speaking is, its not a skill you obtained by attending a weekend or week long training that Eric Hor and John Lee is offering.. you must attend regularly every 2-3 weeks, even if you miss some meetings (that don't matter), to develop your skills. It's developed and built over time - not by attending short trainings on weekends or week-long program paying thousands of pounds/dollars. So dont be fool, don't pay Eric Hor and John Lee. Public speaking skills is like any other skills you learn, whether sports, or your regular exercise. If you stop going to gym for few months... what happens? Same with public speaking... you must attend regularly for at least 6-months to a 1-year.. then you develop skills + see other speakers do it, which you will pick up subconsciously, and when you step up to do your speech.. you will naturally exhibit skills (that you had picked up by watching other speakers on a regular basis by going to these meetings).. also, for every speech, you are given a detailed guide, as to how to structure it i.e. bullet points, linking between these points, and how to put a capturing opening and conclusive closing of your speech. You will also learn how to use body language, vocal variety, include research information in some speeches, which really helps professionals wanting to do great presentation for their work etc. And you become better at it, over time. You can never learn this over a weekend intensive course or week long course. Once you go through the Toastmasters club, the process will stay with you forever - just like driving a car or bike. So save you money from these fraudsters and join Toastmasters International club, which has nearly 16,000 clubs worldwide. You will also learn to take leadership roles as these two skills go hand in hand. Check out: toastmasters.org and click on "Find a club".
 
Eric Ho uses uses a traditional sales technique as he takes you through an emotional ride by sharing his stories, and others stories, and then says that he wants to work with "entrepreneurs" and he is looking to "invest" in the right business and "collaborate" with them, and this makes you feel like signing up to his mentorship, and it could perhaps, provide that opportunity to launch your business. With that mindset, he lures you towards him and when he offers the "1-day only" sales offer, at the end of the seminar to sign up, you do it! But there is no plan, no accountability, no real business expertise provided, except FULL of motivational stuffs, which you can nowadays watch on YouTube and feel the same or better. All you get is his regular get together for dinner and drink (which you have to pay yourself btw), and again, his posts on YouTube video promotions with all the mentee group for marketing to show what a good time we are having. Who will rant or show sad face on the video (live)?
I was in a group, where there was single mothers and some of them borrowed money from their parents to sign up to Eric's mentorship so she can make her business successful. She promised to pay back to her parents but it never happened as her parents passed away, before she could make any money. And Eric didn't even share the 50% profit that she had generated through her sales i.e. webinar sign-up consulting therapy work, after getting some leads from one of the webinar Eric had sets up. It takes her 3 months to get her 50% share. She even cried in one of our meet ups and shared her story. Another lady, Psychologist, that signed up, she spoke on the Eric's stage few times, she was very happy, got her to give him fantastic testimonial, she changed her title to "international speaker", and time goes fast... soon it was 12-months and she was crying in one of Eric's seminar at the back stage because it only hit her that she hasn't made her money back but paid 12k! Eric saw her cry, he knew WHY! as others try to sooth her, but he went on the stage and did his gig! There was no remorse nor any sympathy...... yet he acts like he feeds those childred in Kenya! Oh by the way, it was told that this charity is not his set up... it was existing orphanage and they would work with anyone that give them donation and you can put that in your business as a social enterprise business. And why wouldn't they accept donation for such purpose?
 
Another mentee, similar type of business, didn't get anything i.e. 50% commission, so he stopped asking after few times and completely dis-engaged with Eric and stopped talking completely after about 6-months in the program.
 
Eric lied to another mentee suggesting that he will use his product in his existing business to collaborate with him and launh his product in his YoYo Noodles bars, which Eric supposedly owns. He signed up to it, but it never happened and when he asked to Eric about it, after few months of developing a product and brand, Eric simply said that he had already sold his noodle franchise business. So he can't help him! However, it turned out to be a plain lie as Eric still owned the business and he was participating in Franchise trade shows later that year. He still owns this YoYo Noodle franchise and can be easily seen in Google search.
 
Another mentee couldn't afford the fees, so she was called by their staff called Marcos from Wealth Dragon, a big spanish bull dog that looks like a bouncer but acts like a motivational guru himself until you miss 1-payment! He acted like a bully when she didn't pay on time and this mentee, was already in debt and Marcos advised her to take loans from her credit cards as she would easily recoup that money anyway from the program, and when she was unable to keep up the payment to Eric, after few months, she was instantly kicked out without any notice and blocked from the Wats App and Facebook group. That’s when we saw the real Eric Ho.., not so nice and kind as he appears to be on the stage and videos and showing off his charity work in Kenya... Oh yeah, once you are mentee, you will get a "special deal" to volunteer and go to Kenya with him to do this charity work and the price you pay on a special deal is much more expensive than you would have booked a ticket and accomodation and gone by yourself... Another "upsell" like his books, like the upcoming seminar tickets, some "hero" seminar, but the principal is same.. motivation and emotional roller coaster stories and "upsell" another product.. there were few guys who finished all their savings by keep buying into these programs.. One nurse lady, single, in her 50s, spent more than 30k in all of their seminars, combined with, mentorship, forex, property, public speaking etc.. all her life time saving, all that over time she did.... tut tut.
 
There is nothing special or no real expertise offered in business by Eric Ho because all the advice is generic and 90% are motivational. And since all motivational in YouTube videos are sourced from Napoleon Hill's Think and Grow Rich book and the Power of Law of Attraction book etc. The 99% of the motivational gurus use these techniques to elaborate and explain their stories and persuade and convince audience to excite and take action.. And take action you will, by paying £12,000 for 1-year of generic advice and about 5 to 7 appointment with him (since he is out of the country more than half of the year giving seminars)... so how can you meet him possibly even if you want to........ Have you ever noticed that 99% of his previous mentees are completely out of the picture or out of touch after 1-year... ever wonder why? Because it finally sinks into them that it was all bullsh!t and they lost their money! Deep down inside in their heart, they know they lost their money, and there was nothing they could do after 7-day no refund policy!
 
If you, readers, want a motivation then I suggest you go to the horse's mouth i.e. Tony Robbins who revolutionized this game. And it is unfair how Eric Ho and John Lee do it... because they excite audiences through emotional story telling method, where their seminars are held for 2-3 days, long hours, deliberately making the audience tired and making it harder for us to think clearly and decide carefully, and prompting audience to say "yes" to many of rhetorical questions and multiples "hi5" among audiences and then encourage audience by stating they want “joint venture”, “partnerships” with only few select entrepreneurs and the offer is for "today only" sale price, and saying how Eric is only looking for only few partners only so its not for everyone (making it sound exclusive)! And he only wants few mentees only because he already has few of them already... That makes it exclusive and people sign up..... but after few months in the next seminar, he says the same thing and sign more mentees... and from different countries and it all becomes one big "social" group... hence, he loses track in 1 to 1 meetings of your progress and business plan.... and offers motivational advices only.
 
The contract states that you cannot ask for refund after 7-days but its hard to know, for anyone, within 7-days, what value you are getting esp. when the guy is flying around the world giving seminars when, ideally, you want a business mentor that can support you and give your advice in the time of need and hardship, not while he is posting videos of his latest gadget and business flight travels, which you, the mentees, had funded!! The irony is that, Eric present himself as the best son in the world to his parents, giving his father and mother a luxury watches and presents, when his parents, DONT know that its funded by these mentees who have worked hard to save up their money all their life and are paying £12,000! And some have really struggled to put that money together. I recall after a day or two of the seminar, both John Lee and Eric Ho, challenges the audience to see if they can raise money from their banks, friends and families and challenges everyone to make phone call during lunch break and see how much they can possibly raise…… during that day, it stays like that…. But its only until tomorrow or last day, when the offer for the “sale price for today only” is given and subconsciously the audience feels confident to take this offer because they were able to get loans or friends/family were willing to lend them a day before... see the trick??? These guys are experts, professionals in stealing your money!!! Vipers! Snakes! A bad name to Chinese/ Oriental community! A rotten tomatoes in the basket affecting all.
 
They are not different to those gurus, cult leaders, who builds followers and eventually brainwashes then and manipulate them.. its same technique! Eric Ho and John Lee builds followers from YouTube videos showing off gadgets, good lifestyle and happy mentees videos then you end up going to their seminar and hearing their well crafted and devised speeches, do activities, and make you feel they are great people, a guru and then challenging you to raise the money (from friends and family) then hooking you to buy their “sale price for today only” products. And to suck more out of you, there are many upsell in the pipeline...!
 
I saw many old ladies, retired ones, in their 60s running at the back of the room to sign up for a “LIMITED PLACES” only offers – without reading any terms and conditions! Some were signing up for Forex to use their special trading method to make unlimited amount of money whilst trading for half an hour a day! A pictures are shown of people being happy and drinking coffee and trading and making money! I think I should tell my investment banker friend in Canary Wharf to bring all their banker friends and his bosses and learn to trade so they can make all the money in the world in half an hour.... they don't have to invest millions in their sophesticated softwares that trades in micro-seconds and are competing with other banks and institutional investors!! No offence, but what do these retired ladies do to out-beat the investor bankers that uses latest tools, softwares, factors in speculations, world economy, politics, wars, currency fluctuation etc. etc.. Many of these ladies are old enough to be Eric's and John's mother! No mercy, no remorse! One mentee was charged double the normal price because she asked for 6-months extension in the mentorship, and she could not say anything about it..... but she shared her disappointment with us in the group.
 
Please people save your money, and if you are really need inspiration to do business then know one thing for sure...... all these types of motivation seminars are almost bullsh!t! If not ask any real business leaders from Fortune 500 or FTSE 250 companes...... and they will tell you what it really takes, and how competitive, dog eat dog world is out there...... thus the motivation part is only 5% of the business, the other 95% is pure hard work, grit, effort and sleepless nights......... to make it successful. Even that doesn't guarantee it! Almost every industry and sector have very high competition and innovations are quite rare, infrequent, and mainly big companies that invests heavily in Research & Development create it.... The money you need to invest to start the business costs almost double than your initial projection, and it takes twice a long than expected. You are alone, often questioning your own insanity at times, friends almost misunderstands you.... and once you have built your product or brand, then only you realise, you need more money to market it... and without marketing, there is no exposure and no one knows about it... so when you factor it all, the 12k you paid Eric Ho for motivation, was the money that you could have used for building your own business and marketing it...... now you are more broke than before and lack of money de-motivates and stops you from continuing to work on your start-up business. So not only Eric Ho has stolen your money but he has killed your dreams!
 
Please note, motivation gives you energy for temporary time only, maybe a month or two, then you go back to “default” that have built in you since your childhood! So how can one-off 2/3 days seminar change your “default”? It’s like trying to change a habit overnight. Can you? So, you can only change your “default” by consistently grinding through hard times and persevering and pushing through rejections and hard times... and having insatiable desire and hunger to succeed.. thus, only only few makes it? But if you need motivation, just go to the horse's mouth i.e. Tony Robbins who is probably best in the business. Not liars and hypocrite like Eric Ho and John Lee.
 
And if you really need mentor, you need go to real experts, which you can easily find on LinkedIn, industry publications, and surely you won’t have to pay 12k!!! You need experts from the industry you want to specialise in, and have contacts and networks with industry leaders, and can help you to raise finance, and be focused in you as much as you are working on your business, they push you, ask you hard questions, even gives you hard times and sometimes you hate him/her but after getting the results you want... you respect them! Thats the kind of mentor you want... what will Eric Ho and John Lee tell you? Motivate you? what about rest of the 95% grit. They hardly talk about it.. Can they introduce you to any Venture Capitalist? or Private Equity firm or Financial Institutions? Those professionals dislike motivational speakers and don’t even allow them in their circle, believe me! If you want join prestigious business clubs in London, check out London's Capital Club, Club house london, De Amstel Club, etc... and these clubs dont allow motivational gurus, if they find out they are trying to sell seminars or books etc, they are booted out! some clubs asks for your business’s revenue before joining... And these are the clubs where PE firms, VC, bankers, advisory firms i.e. 'Big 4' and 'Magic circle' professionals hang out! This is where you meet real business contacts! This is where you need to be, so they can pull you up to their bracket... not someone who is in your bracket and you have to pay 12k! Motivational gurus like Eric and John wont be allowed near that circle. They will be a laughing stock! Eric and John is just trying to ride off what Tony Robbins have achieved. He is one-off! I remember they said they want to go IPO on stock market! A motivational seminar company on stock market? In which security exchange? In Mars? What investment bank will represent them? In fact, their business is not sustaible in long term because anyone can be a motivational speaker with NLP courses and reading 100s of motivational books out there... you dont need any qualification! Thus, they are all over the YouTube now and ERic Ho and John Lee is getting competition, whether they like it or not!
 
So, find real expertise who can link you to bankers, lawyers, accountants, leading marketer, entrepreneurs.. NOT motivational speakers that post videos flashing their bling bling 3-5 times a day like a teenager! In fact, its so immature! I mean, Eric is like in his mid-30s and his girlfriend Marta (white girl) was a seminar attendee and Eric dumped his then girlfriend Jamie for Marta. And before Marta, the left Jamie for another attendee, her name is Trinity. But when she found out Eric was dating another seminar attendee Anna (with blond hair) she dumped him! All these girls pictures are in his FB, Insta, if you go back time... What’s sad is that Jamie still works for him, H Akademy, and have to face Eric and his new girlfriend... And Eric Ho has the heart to face her everyday with his new girlfriend in the same place. Its all over their social media... its sad! But that should tell you the credibility of the guy that you have to pay 12k!! Of course, I only came to know this all after a 1-year mentorship program and Eric was publicly (In Wats App group) arguing and fighting with another girl called Jadey, who worked for him but she left after realising everything...
A challenge will be find out how well his mentees have done in their business, besides the YouTube video testimonials, since they had taken up his program.. its hard to know their revenuce increase after few months of the program, so their company's financial statement before and after the program should be compared and validated.. Of course no one would do that... Any previous mentees up for that challenge? Well all his mentees disappear after 12 months and new arrivals are excited and buzzing every year… until they cool off at the end of the year, get kicked out from Wats App and FB group……… I hope some of those new mentee reads this and realises how it works with these con artists... Eric Ho is a fraud!
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FX Multiplier - Wealth Generators - How it Actually Makes Money! Wealth Generators Forex Trading WEALTH GENERATORS LIFESTYLE WinWithSan's TED Talk About Forex (Wealth Generators ... Wealth Generators Review - FX Multiplier SCAM? Part 1 FOREX IS A SCAM - WHY TRADERS LOSE MILLIONS TRADING FOREX ... Que es ser chingón? - Wealth Generators (GEM)

Maybe Wealth Generators is a scam but FOREX is still worth trying, isn’t it? And by the way, have you got any updated article about FOREX? The link opens an article that was published in 2011. Maybe a lot of changes has taken for FOREX since then. Looking forward to hear your advice soon. Reply . Gary says: December 13, 2016 at 5:03 pm Hi, Rule2020! I’ll write a more detailed article about ... Is Wealth Generators A Scam? This Review Will Save You Money Wake up and take charge: Unlocking five secrets for girls to turn out to be financially savvy. Forward-Looking Statements Certain statements in this press launch might constitute “ahead-trying statements”. When the words “believes,” “expects,” “plans,” “tasks,” “estimates,” and comparable expressions are used ... Wealth Generators was founded in 2013 by Ryan Smith, Annette Raynor, Chad Miller, M. Arthur Romano and operates out of Salt Lake City, Utah. The company is focused on the financial services, with a primary focus on investing or stock market/forex trading. The financial services company promotes itself as a “system” for gaining the upper hand in stock or forex trading, investing in ... In the beginning of March, the mother company Investview announced that they had changed the name Wealth Generators to Kuvera Global. I believe that this name change has got something to do with the CFTC investigating the conduct of Wealth Generators. In this United States Securities and Exchange form known as 8-k form, Investview highlights its “Material Definitive Agreement” between the ... Wealth Generators is the brain child of Ryan Smith, Annette Raynor, Chad Miller and M. Arthur Romano and was launched in 2013. The company is actually in the USA and it works inside of Utah. Kevin Gull the president of the company has been in over 12 networking start-ups over a 10 year period. Google Kuvera Ethereieum Cloud mining scam. I was scammed $500 so the lose isn’t so bad. But a lot were scammed 10k, 15k 20k and that’s why this company is not to be trusted. Ever. It’s a ... Wealth Generators was privately run by Ryan Smith, Chad Miller, Mario Romano, and Annette Raynor, ... This is a Forex alert system that notifies its users of trade opportunities; the service will cost you $149.99 a month which is ridiculous considering the fact that a majority of brokerage firms provide similar information’s to their clients for free. Furthermore, since Kuvera is not an ... US’s CFTC charges Wealth Generators LLC, LegionFX LLC and six other financial intermediaries ... Latest forex news and scam warnings. San Francisco Based Blockchain Capital Joins Libra Association The Forex Review September 18, 2020. Leaked EU Document Suggests Plans to Regulate Crypto Market The Forex Review September 17, 2020. Barclays Plans on Launching New FX Pricing Agent in Singapore ... Is Kaizen Global another Forex Scam like WG (Wealth Generators)? It is exactly the same model business. A MLM business with the excuse of learning Forex and even trade in a autotrade system. The startup is $200 or more, and $169 mo. They owner has been involved in violent disputes for closing his mentor business "mentortips" leaving more than one empty pocketed. There are a lot of Hype out ... Wealth Generators also promises to refund you TRIPLE of your membership fees if you fail to make money with their Forex software within 6 months. This guarantee sounds amazing and very enticing. However you need to understand that there are very specific requirements to be entitled for this refund. You need to prove that you’ve been following the training to the dot (how can you ever prove ...

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FX Multiplier - Wealth Generators - How it Actually Makes Money!

La verdad sobre Wealth Generators ¿Fraude? forex. - Duration: 8:27. Padrino Trader 36,457 views. 8:27. Jocko Podcast 203: One Man Can Make a Difference. USMC Corporal, Jason Dunham. - Duration: 4 Visit WinWithSan.com If you aren't aware forex is a scam, you NEED to listen to this. Must watch educational information for all forex beginners. Find out why the 4.3 trillion do... Wealth Generators Forex Training - Duration: 48:27. Jwill RetireU 16,511 views. 48:27 . Xerocon San Francisco 2016 Dandapani - Conscious Accounting Xero - Duration: 48:32. Xero Accounting ... Amazing 4%-15% Return per month or 80% per anum. Follow me as I discover the truth about this company and the product they promote. I'm Currently using the FX Multiplier from Wealth Generators. For More Information on Wealth Generators FX Multiplier Contact me on http://www.isaacwendt.com/contact-me/ In this Video I give my honest opinion on the pro... 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. ... Wealth Generators Trading Coordinator 🔥🔥 - Duration: 21:53. Jwill RetireU 811 views. 21:53 . Language ...

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