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Friday, October 7, 2022
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PRC INVESTMENT APP TURNS OUT TO BE NOTHING BUT A GAMBLING APP

“Gambling or investing? Here to seek some points of view. There’s a Chinese ‘investment’ app (cannot be found on the app/play store and only be downloaded through a link) that allows the user to put in a minimum sum of money to be used as a real time investment.

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The ‘investing’ works by asking its users to make a bet on the number that would be generated in each 3 minute cycle. People would place their bets whether it’s a big/small and even/odd number and the cycle would close, and the results will be announced immediately. And how do you put in money in the app? You have to go through a broker who would ask its users to transfer the money into somewhat random bank accounts and the broker will put in the money into the app.

How did I came to know so much? Because a guy I recently met online (here’s my share of online dating stories) whom we hit it off quite well, and he was doing these ‘calculations’ every night. Wondering why, I asked and he said that he was counting the probability of numbers to predict for each cycle in the investment app and elaborated the above methods. He said that he doesn’t blindly make a guess but predicts based on calculating the most probable outcome. Just to highlight that I am Singaporean and the guy is a Chinese National but I am not discriminating anything about people from this country (if not we would’ve matched) but the mention of it is to bring all to know that the investment platform is a Chinese one and locals like me definitely would not have heard or be familiar of it.

He then said that he wanted to teach me how this works (back then I didn’t know anything that he’s trying to say) and I agreed. The red flag was raised only when I realised that he started telling me that it involves me putting money (and then more money) to make the investment more worth it. Of course I did not agree to it.

So now, what do you all think. Is this some kind of ploy by the guy to get me hooked on to this ‘investment’? Or is this sort of gambling instead?”

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Here are what netizens think:

  • Sounds like a scam where by the system decides small/big based on whichever has higher total bets. This allows the owner to earn the differences between the imbalance of the amount. Quite elegant actually, cause to a bystander it might seem like 50-50. Any attempts to predict the system is mute if the outcome is based on the input. Investing is only when you know where your money is going, and how it generates more money. Aka owning a piece of a company, used to loan to another company etc etc
  • Scamming lah
  • No it not investing Nor gambling. You just a carrot head ready for harvesting.
  • There are thousands of “China/Taiwan/HK” guys and girls on dating apps running these scams. They will spend time to talk to you nicely about normal stuff, and slide investment/trading/forex in after awhile with legit looking earnings.
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