written by reader final Five Cryptos

By bird19, March 19, 2020

These pitchmen are so much alike. They advertise that you can find out about some great opportunity by listening to a webinar;
then after hours of spiel we find out that you must pay $5K or $2500 to get the names.
Ian Wyatt Earp is one of them. the Final Five Crypto guy is another. Seems they are very wealthy, & claim to know how to make money investing ?!?!?.So why do they need to charge such exorbitant fees to share the info with ordinary working people looking to find a way to bring in ’extra’ funds along side their jobs, if lucky enough to have one.

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cryptomaniac
Irregular
cryptomaniac
March 19, 2020 9:30 pm

These pitchmen have to produce income for their publishers, support their own lifestyle and business expenses and produce a return for their hundreds (or, if they’re lucky, thousands) of subscribers who are expecting something for their hard-earned dollars. One way to do this is to hype investments that are already in their newsletter portfolios – the more thinly traded the better – so that the post-webinar hype nets a tidy profit for current subscribers. Of course it is up to the subscribers to realize this since recommending that they take profits immediately after the pitch announcement would certainly attract the attention of regulatory authorities. Sound like pump-and-dump?

As for the ordinary working people, a good rule of thumb for me is to start with how much I am willing to treat as a total loss and what %-age I am willing to pay as an investment advisory fee. Let’s say I have 1.5 million in investable assets, I’m willing to allocate 2% to a speculative investment like cryptos and I think a 1.5% advisory fee is reasonable. That means I can allocate $30K to cryptos with an advisory fee of $450.

Looking at it from the opposite end, an advisory fee of $2,500 would require an investment of $167K to meet my 1.5% criterion. Would I be comfortable committing that much – 11+% of my assets – to cryptos knowing that they could vanish overnight (let’s ignore, for the moment, that my “safe” stock and bond investments have dropped 30-40% in the past two weeks)? Or, another view – if I am comfortable putting $500 into 5 cryptos, am I willing to pay a 100% advisory fee to do so or would I just put $500 (or $250 or $100 or $2500) into the free recommendation and trade it using well known money management rules ? With LINK – the original 5 Coins to 5 Million freebie – you could have taken a 50% profit within a month or so, and more recently another 100% profit without spending a penny for the subscription.

I realize everyone will have their own answers to the above questions, but for those of us who have worked hard all our lives to amass a nest egg – or whose nest eggs are far short of our expectations given all the hard work that went into them – the questions bear some serious thought before shelling out subscription $$$ or dwelling on sour grapes.

– c

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Zvi
Guest
Zvi
March 21, 2020 10:37 am
Reply to  cryptomaniac

Excellent explanation, How do you buy Crypto- or – Link.

cryptomaniac
Irregular
cryptomaniac
March 25, 2020 9:35 pm
Reply to  Zvi

Depends whether you are in US or elsewhere. BTC, ETH and LINK (Chainlink) can be purchased with US $ on Coinbase, Binance.US, Voyager and Bittrex among other exchanges and DeFi swap sites. There are numerous sites that give step-by-step instructions – Google is your friend. Basically, you create an account, provide Know Your Customer (KYC) information, set up 2 factor authorization (2FA), connect a bank account and place your order. Each exchange has its own rules regarding fees and hold times for trading and withdrawal depending on whether you use ACH, debit or credit card for fiat deposits, so read the fine print carefully.

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lindlee
Irregular
lindlee
March 21, 2020 9:31 am

Thanks for your insight.

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cardano465e
Member
cardano465e
March 21, 2020 12:35 pm

Gum Shower’s,
In May there will be a Havinig Bitcoin will go up and so will many Altcoins. If you want information on the Altcoins that will do something. Get on my Marijuana email list.
frankeightmorriss@gmail.com
Thank:-:You
FRANK8MORRISS

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Ashwin Nagappan
Member
Ashwin Nagappan
March 21, 2020 3:04 pm

Did anyone attend the final 5 webinar ? What were the 5 coins other than LINK?

Hsliu70
Member
Hsliu70
March 22, 2020 1:42 am

Five coins from Sep 2019 were LINK ZRX CRN CRPT TNT. Are the final 5 coins different this time?

cryptomaniac
Irregular
cryptomaniac
March 25, 2020 9:37 pm
Reply to  Hsliu70

according to the most recent of the gazilion emails I get from PBR the Final 5 are different.

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