In yet another instance of Ivan on Tech shilling shit projects, Bondly lost 50% of its ICO value in a huge dump today. The project is apparently having trouble, well, doing anything, and its only purpose seems to have been a pump and dump. Much like Base and all of the other projects Ivan shills — they are only good for one thing.
One of my first posts detailed how I got "onboarded" into the culture of crypto. Nearly everyone uses Youtube as their initial source of information. It's a great place to get familiar with the lingo and the timing of the market, but it's an awful place to follow direct advice. I'm no fan of government regulation, but you should know that lack of regulation lets liars like Ivan say anything as long as they preface it with some DYOR disclaimer. There's no punishment for leading a Youtube following straight into a pump and dump and saying fuck all about it after the insiders make money.
So here's how it works in case you've missed my 15 other posts about it.
Youtube shills get direct access to projects earlier than anyone else [read: free tokens] in exchange for shilling the project. This means they may get free shit even before the private sale. If they don't get straight up free shit, they are given access to the private sale. In case you haven't connected the dots, this is the same kind of insider behavior from traditional finance that crypto is supposed to get away from.
When they shill the project, the project pumps purely from the shill. The project itself may or may not have good fundamentals, but that doesn't matter at this point. The only point is to get the price up to a multiple of the original presale price so that the earliest investors can cash out.
The shill then promotes the project as a "success" if the rollout happense with a big pump. It doesn't matter what happens after that. In most cases, the project dumps and goes into a death spiral.
Case in point: Base Protocol. Ivan and the other shills promoted that as a once-in-a-lifetime success because it did a 100X from the presale price. But if you weren't in on the first couple of days, you lost money. (That's 90% of people.) Having a presale pump is also not special. Most projects that are promoted with any competency do the same thing.
In any other world, a 90% loss rate and a project that's only successful for 48 hours would be considered a huge failure. But in crypto, in the words of Ivan, it's a "success like no other."
Stay away from this shill, from shills like him (Elliotrades), and definitely don't give them any money for those ridiculous programs they offer. The only thing they are good for is early access, but you better have the funds to make it worth your while. All of these projects are on Ethereum, and if you don't have US $2500 minimum to invest in these things, they'll leave you in the dust.
You've been warned.
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Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
