Bitcoin Forum

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

Yes i have had such an experience. Sometimes my friend was only following some big boys on twitter but he was getting correct information like he was following someone to invest in YGG when the price was around $2 and he was able to selling his YGG when it reached $9

It's totally his luck to follow the good boys on Twitter that was sharing the correct signal about what kind of coin must be bought by him. I personally have been starting to follow big boys as well as a comparison with my research about what kind of coin must be bought by me. It can be a good suggestion.

I'm sure your friends didn't make that fortune in a short period of time. But they definitely have the skills to see the market.

Listen to people who shill like the famous people and do the DYOR after it. You got to see the hype first before seeking truth to what they are saying. When you have $1000 to invest, you have to see what influencers are shilling and then see if they are saying the truth. And then see when you can invest because timing is of importance too.

No, I've never had an experience like this. I have never lost doing my own research. It's only a matter of time, until my investment grows. I always see my friends lose because of following rumors, they are stuck in FOMO and lose funds because they don't DYOR. following rumors will only fail you in the end, so I would never do this.

If you have the ability to analyze a project then do it to avoid useless coins, don't just be interested in the HYIP of a project, it's too risky to enter a project that is still a HYIP but is already at a high price.

I've had that kind of experience in the past, so at this point I no longer spend a lot of time doing unnecessary research because time is so precious to spend on every good thing on good coins and good rumors going through people- famous people in cryptocurrency.

Those who have followed the dogecoin craze and other meme craze, the earlier folks were the ones to make huge profit. But those who got in and the hype is about to be done.
They're all done and lost a lot of money and that's why it's never been advisable to follow anyone and do everything they say with your money. It's not just right.

Well its good to be updated with those famous people who are likely to get involved in crypto and will hype the value but you should not only rely to them as they are only good for short term. DYOR is still a must so you will always be aware on the potential coins to invest and those that are being hyped only.

For me, i am considering both of them so i will be guided which coins are more likely to gain profits. This time crypto is very dependent on social media news and updates but i know in the long run, it will always move depending on how potential it is.

They make money because they do their own research so for me, its better to also have your own that works on your own timeline, its not good to fully rely on someone that’s not trading for me. If you really want to make money here, know the basic things learn how it works and be proud of yourself because you can earn now on your own. Famous people are also hyping a project, that’s risky.

I can just remember how many people are following Elon Musk investing DOGE coin and honestly, many of them got rewarded but that is a sort of market influence that this person had made, and sad to say that not all have that kind of influence level. Thus, if you can find another person like EM, it is really a good decision to follow him. But, we should be thinking about the trap, we are still careful then as not all have good results. It was still safer if we make our own research than relying on someone. 

Do a bit of both.

Value coins can't thrive without celebrity endorsement. And celebrity endorsed coins cannot survive if it does not have the necessary fundamentals to prop up its value.

People who are blindly following the so called "experts" will get ripped eventually. They may be getting insane profit right now but once the hype dies down, they will not be the ones laughing.

You can do both and even have more strategy on what you want to do with your money before you invest. I believe you're into information explosion and that you have many things to consider on "over this" or "over that's facts and opinions, it's a burden. Be simple on the "DYOR" process or best have a financial advisor regarding investing.

ever happened in my life and it's happening so many times. i don't know why but when my friends were buying random coins that already told by his influencer and then it was going to the moon.

My friends were making a fortune and he was getting bunch of money in a short time.
This is happening when the shitcoin has become the major trend in the cryptocurrency. he was getting a lot of money from buying safemoon and he has dumped it back to the market after it reached the peak price.
In my opinion if that was totally depend on our luck. Basically when someone was buying random coin and the random pump may happen but it it must be a random pump as well.
My friends were so lucky to invest in a random goins and got very big ROI

There are situation wherein following a famous people (like Elon's tweet about doge) can really give you a huge profit if you happen to join the ride while it is still on trend. But we should not rely alone to these influencers because we dont know their intention and it can be a trap.

Thus its better to have our own knowledge about the certain coins so we are aware if there are basis to believe these famous people on what they has to say.

Despite following famous people most user still fall victim, e.g, just take a look at small trader and big trader using some analysis to trade and follow or copy trade mainwhile you have insufficient or low equity don't know during trade you could run out quickly??
Other example is, you wanna buy and hold would you be patient enough even at the dippest time?

Do you mean that is Hype? because HYIP is a different meaning from Hype, so don't be wrong in providing information because the understanding will be very different from what you mean, because the HYIP project is a project that relies on referrals to everyone.

I do follow famous people in cryptocurrency space but I don't take their words seriously I always make decisions after my research and analysis whenever I plan to invest in any project and this is what we must do, we must not believe in famous people's rumors because most of them are making money by spreading false information between crypto community,

Not all of them are like that, although in general well-known people also often spread false information in order to benefit themselves and also do so to facilitate their own targets, so you also need to analyze whatever they say after you do your own research on everything.

Sometimes, famous people can allow to lose money after bad investment, or sell with losses. luca prieto - can you afford to lose money like them? I think that all your friends "make huge profits" not because they do copy famous people trades and investment, but because they hold.

I cant imagine how they "make huge profits" by following famous people deals, because as soon as such deal is announced or becomes public, its  wont give a lot of profit. It is like being always one step behind the leader. When the leader finishes the race, and you came just after, you cant claim that you have won also.

Everyone has a different experience, and that's very reasonable because of all these differences will also be a very valuable lesson for all, so it all depends on how you assess and take lessons from each experience that has happened.

You can't just follow whomever  that gave you signal or information about your investment, have you think how much time they invested in making research about what you wanna take from them?
Sometimes it's good to follow some famous people but not everything they do you should follow as their target is never the same as yours so while following them apply some techniques that will help to guide you through despite the challenges you would still be at your fit.

I have that experience but I also make huge profits from my analysis. I think that is because of their luck to invest in the right coins. Some friends got that experience and made huge profits but not always getting the same experience since those people can not always give the right information. You can follow famous people but do not just follow because they are famous but you need to research by yourself to get more info.

If you use to read some positive news in the internet or what type of news it's, of course you can avoid losing money from some situation in the space that always suddenly occur without knowing or any sign , wherein even you have skills and enough knowledge it's still not safe if you're not making research every time before doing your work, especially in trading because of the volatility and false signal there's always a chance to make mistakes, so make research very often to avoid problems and etc. because nowadays news is the only one that can really made an impact in the market, so we need to be smart as well.

I understand that everyone would say it is better to not look at famous people and do your own research. However one thing we are forgetting here is that just because you look at what the influencers are saying doesn't mean that we can't DYOR neither. Go check what they are saying because that is usually the places that have enough money to do marketing and 100% guaranteed paid those influencers to say their name. And that is literally the reason why we see so many useless tokens go up.

However just because those influencers talked about a coin doesn't mean you have to buy it, just research it and you will see how great or terrible it is. That's my trick, I check what influencers say and then pick something among them, I still do my research on all of them.

Never follow anyone blindly, famous people especially those outside the crypto space are just paid for what they endorse, they themselves haven't brought a penny of the coin or NFT they are endorsing, on the other hand, those within the crypto community are generally biased, they are biased towards the projects they like, for example, if a person is biased that ETH is better than Cardano, he will only recommend projects relating to ETH and built on ETH blockchain rather than overall good projects, similarly if someone thinks that Solana is better than ETH, he will recommend you only SOL projects.

There is always a saying, buy the rumours and sell the news (I think I get it right), this has been happening for a long time now, so if someone is doing such, the person is quite taking a risk which most of the times pays off. Also, if one decides to follow famous people or Influencers, the person is also taking a risk and most times it pays off, but the problem with this particular one is, you might find it hard having a clear exit point as you might continue following the Influencer with the hope the price will continue going up, without knowing the Influencer is already out of the project.
Lastly, making your research is also the best, at least you know what you getting involved with, and if you make such research towards a particular trend you will stand at a good position to profit earlier, also most times your personal research will provide you with an entry and target point, could be long term or short term.

I think DYOR must be applied all the time especially that we don't know if those famous people can be good influencers or not. There's nothing wrong if we come to believe them but we should also do our part and that is keeping researches on what they are making us believe. So get some idea from them but definitely the final say will be coming from us.

Sometimes i also check some speculations coming from big whales and its not really all the time that they are making right speculations so others tend to avoid them before they can create wrong moves just because they fully rely on what those influencers say.

As long there wouldn't be those exaggerated sentiments then I might take a peek on that popular person that he do suggest or recommend and as long it isn't something pump and dump scheme then I might consider it out.

It isn't bad to follow someone as long you do make your own research and make out your own decisions without being influenced fully be someone because it is just regrettable on losing money
not on your own decisions.

Always DYOR and don't easily get hooked up with hypes and similar things.

DYOR as always, most of those conservatives types of investor always deal with research first before taking any actions. It saves a lot both of your time and money, as you may decide appropriately with good knowledge to very market sentiments.


If you can spare portions of your investment, why not right?

Influencers, especially those known personalities do have impacts with some traders on how they decide their target assets.

If you take the risk and manage to make it the right timing, compensation is very much decent. It takes a big nerve though to risk your money with such kind of projects.

I have 2 friends who made big profits from buying doge when Elon started making those tweets. And they continued to follow him even buying more doge while at the top, and in fact now they are losing even more. It seems to me that a person's influence will be lost if they lose faith. And I personally would not follow the influence of others without research. Even if I lose I will not regret it because this is my decision, not following someone else's path.

i think in the long run, DYOR is more usefull than only follow rumors or famous people, market will movement with development and not only rely on news/fud, so if you do research and lose its okay, you can try another project to invest.

The logic is that if there is one person who is almost always right (doesn't even have to be always right, just profitable enough) that could end up guessing directions of coins all the time, then that person could make even more money. How? Well, if that person is Warren Buffet then he doesn't need to tell you that all, but if he doesn't have anything over a million dollars, and he is not known by anyone then it is possible for that person to get super famous, use that fame to sell ads, and then they could get to a level where they are known by anyone in crypto world and rich.

How many people in the world would say no to that? I mean I would say no to that because I am scared of fame, the idea of being known by everyone doesn't excite me but scares me, but there are billions of people in the world who would love to become famous as well.

So, what do you need to do in crypto world for that? You need to be right about your suggestions, if you are right then you will get famous and rich, if you are wrong then everyone will hate you and you will not get ads. So, people follow them because they know that he needs to be right for himself as well, not just to "help people make money" they need to do it because of themselves.

In my own opinion there's nothing wrong listening to the influencers or being curious by those well-known personality who shills a certain project on their social media which project or token they are promoting as long as you make your own research about the project. In my personal experience I used to listen to some influencers I know that really into cryptocurrency but before I am going to invest in it I do conduct my own research before anything else. At the end of the day you were alone by yourself to invest so provide yourself a better knowledge about which token or project were good for investment.

Plenty of friends who just blindly follow Youtubers and buy random NFTs/alts that have no value.

They might be making profits in the short run in a bull market but their portfolios are going to take a beating when the actual bear market starts. It's simply not a sustainable way of making decisions over the long run.

Don't get fooled, guys. Short term success has virtually no bearing on long term outcomes.

I do my own research and also follow famous people too.. But most time, i only make enough profit when i invest on what i do my own research on.

I am not sure if they follow. Famous people can make huge profits, but I will not deny that when that happens to Dogecoin because many people followed Elon and tried to buy Dogecoin in a big amount and suddenly, many people are making huge profits.
After the Dogecoin party is ending, it is difficult to follow those famous people as many of them know that they only want to make a noise in the crypto world and only think about their profits.
I only want to warn people who still follow famous people not to depend on them because they do not know much about what will happen to the crypto and only want to benefit from you.
If you can analyze better than them, you can stick with your analysis and try to benefit from the crypto market situations to profit many times.

Be thankful at least you are learning by yourself and that is what will be your weapon in trading in future.
remember that it is much better that you know things than listening to other all the time.
you may not earning high but at least you are not losing right?
it is very few that making profit with their own strategy and knowledge .

Just follow famous people sometimes it works but it's not enough to just follow it mate ,we have to do our own research I think and look for opportunities within the existing trend ,In my experience assets are important don't sell losse on coins do have a future because one day it will go rise and get a lot of profit
Yes there are friend who also follow famous people but it doesn't always work because there is a lot of speculation that is wrong AFAIK many claim to be experts but crypto can't predict

They just like to make decisions to make good profits even if it won't be in the long term, because every profit will always be worth it and they can immediately move to another place when it's no longer profitable there.

Every profit is a very valuable goal and target, so they also won't be wrong if they apply it at this time, because in the short term everything can be solved very quickly after they withdraw the profit.

It clearly had nothing to do with it, since short-term targets were only executed for a short time, so there was definitely no connection and it wouldn't be wrong either if one wanted to do it.

like in doge coin and axie. many people are influenced by other people's content or famous people. and they make a big profit. The point is that influencers or famous people will make projects reach more people or more larget target market. and the bigger the project, the bigger potential for project to success.

Sometimes following famous people always results in profit because what they bring in the content will certainly affect many people and when the market happens then this will be a big influence so for me important and famous people I always follow to look for updates about other projects, sometimes this makes me crazy but in the end it can be used.

And that's how we do it apart from doing research is also important so both need to be carried out in order to maximize how you can earn from the two that you follow.

yeah it’s happened with me and my friends. when one of my friend continuously invest money to following a famous crypto influencers guidelines and fortunately he made profit but in my own research investment was failed. it seems he made profit without own knowledge but at the end of situation he lost of all money in one meme coin project.

There are people who managed to earn from doge but there are also many who losses their investment, while with axie which the game still moving and still developing there are people who continually earning from this game.

These two projects have been move by the trend and influencers, fact still remains that even you didn't do your homework but if you managed to invest during the hot season, your profits are very decent.

 depends on the decision making that you'll going to execute, but there's still a big edge with someone who does his DYOR before sending his money inside.

Well your friend got lucky as blindly following a famous influencer is a recipe for disaster. A lot of times when these influencers promote a coin, they just want to hype it, see a pump in the price and than sell it with a lot of profit... Always DYOR!

Luck will not always be with the same person and also at different times with the same person, which is why many people prefer to do their own research after seeing what famous influencers have to say on their social media.

If you really want to stay in the game, the beat option is to develop yourself and get better in trading or scouting for good coins to invest in. You can use information from reputable influencers as secondary information because some influencers are just paid shillers who can promote any project as long as they are paid.