I seriously need to check my bookmarks more often
~
In my early trader days I was myself active on a copytrading platform (1Broker, which unfortunately does no longer exist).
Almost all successful traders there bet on BTC/USD. These traders rely on very high leverage so that these high profit percentages can be achieved. As a result, 2-5% became 20 to 50% relatively quickly ... or -20 to -50% ... which unfortunately happened quite often.
The traders were also awarded a certain percentage of the profits of their followers on this platform, but the minimum stake of a trade was very high at 0.25 BTC at that time (~2017), so that only people who owned a lot of BTC were actually active there.
2017 was the year in which if you had bought in January and sold in December you would have gained 13x just by holding.
I would be more interested in somebody who made money in $ term in a period like 2022, including his holdings, I always said that a true trader is one that manages during a bear market to keep all his assets at least to the same value. So if you have made 2BTC in that period but your total asset worth has dropped day half, from 10BTC worth 400k you now have 12BTC worth 240k then you're not a good trader at all.
I think it's going to be worse than that. Traders will open 10 accounts, go for riskiest returns on tiny amounts (or even wash trade between themselves to sacrifice bankroll on alts to get huge profits). Post these 100% weekly gains. Hypnotize the sheep and rake in the commissions. If he profits even 10% people will stay. If he loses, people will also stay waiting for the 100% to hit again
I expect manipulation to be on a rampage there too.
Accounts filling themselves half with newbies' accounts to gain trust, playing with highly manipulated shady tokens to get the tempting % return only to out of the blue screw all the user base by dumping some pair into the groud or pumping some low-value token at the right time to close some position on a different exchange.
10 accounts filling 1/3 of their limit would mean 1000 accounts, trick them into playing ~1000 and you can at the right time with the right average make x10 times more.
Of course, it takes time, it takes money, it takes knowledge but just wait!
Now leaving the manipulation and scamming aside, what's the protection in case your trader has a nervous breakdown cause his girlfriend left him and he, full of anger says screw that and opens intentionally some money-losing pairs and positions?
I have to admit that CZ is a very smart individual, he knows what likes people, he knows their psychology, he knows how to make money, he knows what he does!
So drug dealers, just saying
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