Hello everyone :)
First of all I would like to point that this article is not intended to underestimate work that someone is doing, or to trash anyone.
It is rather a warning for all of those people that just recently started to get involved into crypto world (same as I did), not to take everything for granted and to do your own research.
So the reason for me to write this article is this guy Suppoman Udemy, you can also find him here on steemit where he describes himself as a "Teacher & YouTuber with over 600,000 followers".
On his udemy page he is "a Social Media Guru with nearly 1 million followers".
Well to start those numbers do seem a bit questionable, but I won't go into that, I will focus on his crytpo channel where he calls himself an expert.
Problem that am finding with this guy is that he seems to be misrepresenting stuff, which could be dangerous to people that are following him. Basically what I think he does is commenting on events looking back at what happened historically, so that he could reinforce his role as an expert.
This is why I think that.
If you look at video published on 10th June called RIP DIGIBYTE? The RISE of NXT, Einsteineum, Iconomi & Bitshares!, somewhere after a minute hes trashing DGB and saying how he entirely sold it.
Next video published on 11th of June he was saying how he bought back into DGB and it's a good time to buy it, you can view that video here somewhere around minute 3.
Now let's fast forward to his Jun 21st video How to make HUGE GAINS, not SMALL ones with Cryptocurrency!💰🤑, here you can look at him saying how he
sold DGB on June 10th and never bought back in.
Interesting, isn't it?
To make it even more interesting hes ending that video with a rant saying how other youtubers are doing historical commenting, talking shit etc. Which to me it seems like a not nice thing to do, and he does come of like a hypocrite, looking what I showed you above.
Also, hes saying how he doesn't want to show his portfolio, which is quite ok, but looking at what hes doing one cannot seem not to wonder, is he even making investments that he is suggesting?
Or could it be that his actual businesses model is getting followers to monetize his udemy courses(over 20 of those) and get revenue from social media streams?
If you are not aware how that works @jerrybanfield explained it nicely in #1 Secret to Making Money with Any Cryptocurrency!, title seems a bit of-topic and it's not the most interesting video of his that I seen, but he did provide a lot of insight and interesting information for people that don't know how this stuff works, so I would recommend that you watch entire video.
Don't get me wrong I don't mind Suppoman doing hes stuff, certainly if you are totally new to crypto and watching his videos, or signed up for his course it could be useful to you. I even learned few things from his videos, and am thankful to him for that, but I don't appreciate bullshiting, and consequences that could have to his followers.
Everyone that knows more on the subject than you do can call him self an expert, but is Suppoman actually expert in crypto field? I don't think he is, and I don't think misleading people is a good way to make money.
I think that it should matter to everyone how they make their money.
So, make sure to make your own decisions, and don't follow so called "experts" blindly. In the end you will be the one that will take consequences of those decisions, and if you lose your money investing based on their advice, suppoman's of the world won't be really affected by it.
I really like his energy in his video's. Sadly he is becoming a bit arrogant in his last video's. Like he knows exactly how this market behaves. I've been in crypto for 3 months now and i have followed several "experts".
What I've learned is that you cannot predict this market because this market is still in its early stages. One can only make educated guesses based on the info there is available.
I personally watch most of his video's after I did my own research.
what's remarkable is that the more I get into crypto the more his advices and tips become obvious.
So the best advice one can give you is: DO YOUR OWN RESEARCH !!!
Flicheez thank you for commenting. I agree he is charismatic and entertaining, but as you mention imposing "I know this follow type me" type of attitude is what I don't really like and find disturbing.
Again, am a total beginner in crypto and chart analysis, and even I can spot that hes TA skills are at least questionable.
Suppoman tells you in many video exactly that you can follow his advices but you need to be aware, that he is not right every time. But he is right most of the time. I follow him now for a few weeks. And as far as I see it, that is how it is. He offers his opinion and shows what he is investing on. He himself has obviously made some major profits so.
But I with you. Newbies like me must be aware. There is no such thing as a 100% advice. Every person is investing into a protfolio. And not just a single coin. You need to make sure you havee a solid portfolio.
Thank you for you comment scheneidor, I heard him say that few times also.
It's up to you to make a decision, and you need to be careful and take into consideration what I presented in this article when listening to him.
Suppo says it a lot off times, "make your own homework and just don't follow me blindly, don't blame me if the trade goes wrong"... i'm a fan of Suppo, i've learned so much more about trading and how to use tools to make my own technical analyzis,, and because of his course, which is in my opinion "the manuel" for every noobie to start trading, and for only $10!!, i've learned to look further, to search for more tools to use and to go deeper in analyzes... come on guys!! Never blame somebody else because a trade didn't go as you wish! we're all adults, it's your money and your responsability what you do with it... I think he's great and nobody's perfect
Great that you're bringing this attention to the community and I like how you like to timestamps within the videos you're referencing to save people time, how do you do that?
Your post shows very clearly that he either lied or forgot that he bought dgb again on the 11th of June and more likely the former since he said that he bought a "tremendous" amount of dgb on the 11th of June.
Suppoman to my knowledge is right most of the time but there are definitely much better, more honarable and more informative people you can watch on YouTube.
Thank you for taking the time to check it out.
You can simply add this extension to URL you are sharing"&feature=youtu.be&t=1m4s" or add this extension to shortened share URL "?t=1m04s", it would start it at 1:04.
Or you can also you use UI on any video, heres how: http://imgur.com/a/VGImC
It crossed my mind also that Suppo could have forgot, but am not really thinking that could be the case due to general impression I got off from him. Even before I remember hearing some contradicting things depending on days, but this one was a aha moment for me personally. But that's just me, whole point of this article is to encourage people to form their own opinion on everything and stick to it.
Thanks for posting this. I dont think these people are called out often enough. There is a lot of misrepresentation going on and its good to know who to look out for. Having said that, anyone that buys or sells based of some TA on youtube is destined to lose their money one way or another 🤑
Thank you for commenting John. I would be happy to see more of the similar articles posted. Personally I believe that it would help raise quality of entire community. But it seems to me that most of crypto space is still in that shady area, and most of "bad" things get by unnoticed.
Thank you for your very pertinent analysis. I do not like that kind of person who is taking advantage of others. I'll follow you because you're right. Thank you
Thank you very much for your following and comment izbing, appreciate it.
Thanks for posting this link on my Steemit! I have upvoted it. Keep up the great work.
Thank you for your support :)
I also re-steemed it which clearly helped :) $
I was wondering why this post has earned 4 times more then my previous one with about the same number of votes! Thanks!
There are a lot of rumors, one of the main rumors is that he has a closed group on Facebook (S C M), where he teaches people to buy very cheap coins, only to dump them as soon as he sees fit, leaving other people behind with no money left. He takes advantage of new traders who don't know any better.
He is known and has a reputation, so people sort of blindly follow them, specially if they get into this through his channel. He stocks up from his poor followers' money, and gets rich from that. He might give sound advice sometimes, but I'd stay as far away as possible from him. Chris Dunn is a lot more plausible.
rumors rumors rumors!!! try to post facts, instead of rumors, come on...You are so wrong...Yes it's a closed group, and i'm glad because on this way it's a select audience without to many noise from ouside with shitty posts etc. we are all working together, people are doing there own analysis of coins and bring them to the group to discuss. Because of that we ran into a lot of interesting coins, ICO's etc. The group is working togheter, on there selves, without Michael's interference!!! Isn't it the basic rule of trading BUY CHEAP SELL HIGH...what's wrong with getting info about cheap coins?? Are you here to trade, or what? If there's one thing that Michael promotes in his yt video's, is to HODL on a coin, and not to dump it !!! He maybe calling himself Suppoman, and having an ego, but he is just like you and me, NOT PERFECT and human who makes mistakes from time to time. Yes he uses some coins to trade in the short term, buy, sell and go on, and so he has his favourit coins for the long term as well, the most logic way of trading, the way i trade, the way lot's of traders trade, and i'm making money because of his course... so what's your point? Maybe you should join his group, so you can talk about your experiences instead of rumors!!! happy trading
Thanks for commenting.
So him being pump and dump dude, well I don't really know that or have any facts to back it up.
For a smart person, reading this article would be sufficient to stay away from his advice's. Yeah, Chris Dunn is certainly better source information than suppo.
I find that when a coin is mentioned on his FB (SCM) and check the coin it is already 100% overvalued. If you jump in at that point you are bound to lose money. So basically, you need to know him personally so he can tell you what coins he will mention so that you can buy them before he posts on the FB page. I have learned the hard way (and over $1000 in losses) that you shouldn't buy into the coins mentioned on his FB page.
Thanks professor, I just joined that group after the udemy course, i was suspicious of the private group, trust no one.
I think he's just another guy who promotes a coin he already has, instant paycheck! There are many of them!
Well caught.