Bitcoin Forum

Greetings Everyone!
The level of crypto valuation this days it's honestly becoming a trending topics, Couple with the fact that Scammer's, Are using project as a tool to rip off investors with the help of influencers, with the way things have paved way in the last few days one needs to be extremely careful how you allowed your self to be manipulated by those so called influencers, It wasn't long ago when Kim was exposed, about promoting a Crypto project without indicating, it was a paid promotion, Nevertheless this can't be label as a scam project yet, but the proposed regulation of the influencers paid advertisment is a hot top, Kim stories can be found here via
https://www.npr.org/2022/10/03/1126526883/sec-charges-kim-kardashian-for-unlawfully-touting-crypto-on-her-instagram-accoun

I read an article, Few days back, A report from ( BBB ) from livebitcoinnews.com on how crypto scam has now become the second deadliest scams, And looking at those Scammer's strategies, they make use of Influencers to attract investors, Which prompt to this question, What's the reason for doing all of this, allowing your followers to be ripped off, Just because you're paid for that. The BBB story can be found here via https://www.livebitcoinnews.com/bbb-crypto-scams-are-now-the-second-deadliest-scams/

On today's news it was brought to my notice on Marketwatch about Mazini, A popular influencers, who amassed over 1 million followers on Instagram using crypto and other medium of BlockChain, to steal and scam investors off their hard earn money. For the past few months we've watch videos of him, how he go about doing good, helping the poor, in the process he becomes the talk of the town. he's been mostly loved by Undergraduate and people from the less privilege homes. only to be investigated and found out he's involved in over $8 million scam, from thousands of people through a Ponzi scheme and crypto scam. as things stand he has pleaded guilty to stealing, using Crypto as a tools. this is a bad omen and I expect everyone out there to learn this lesson of being involved, because an Influencers is promoting a promoting a project, or intiatives doesn't makes it Scam free. the news can be found here via https://www.marketwatch.com/story/instagram-influencer-jay-mazini-pleads-guilty-to-running-8-million-ponzi-scheme-and-crypto-scam-11667414900

Now my advice to everyone reading this, Do not allowed your self to be massively influences by those influencers you followed on social media, one needs to be extremely careful on how you get involved in those touting project, Influencers don't care about you as long as they get paid for paid promotion, That's why you see a lot of project Scammer's exploring influencers weakness, by capturing the heart of it's followers and ends up on the losing side.

Always do your own personal research, Be sure you're satisfied with the information gotten so far by you. not what an influencers said, take it up as a task, to do your own research and come up with your own personal results and strategies to determine if it's a good push to get involved in by yourself, to be sure you're up for what you're doing. This is just my piece of advice to you, Please feel free to contribute, Newbies planning to go into investment please, try as much as possible to avoid be influence and manipulated into investment on a project.

I came recently about this thread on bitcoin discussion board https://bitcointalk.org/index.php?topic=5419048.msg61220125#msg61220125 which talks about decrease in bitcoin volume and i love the immediate response givennto the thread with examples of how bitcoin started andbwhere it is today in market volume, the fact that people assume, post, thought or suggest an idea doesn't validate the genuity of it all, I can't say much about other cryptocurrencies but should incase you need more clarification about the market volume to bitcoin then you can follow up the thread discussion from the link provided.

I am pretty sure they are oblivious about it or rather crypto in general, get the the money and be done with it.

Countless number of times, I've advice close pals of mine to be careful about the so call influencers hype of a thing, Everyone is just after their own pockets, that's why you see most of those coins or Crypto Tokens died as fast as possible, as soon as the hype is gone, the token is died, the project disappear, we just have to be careful, learn the tricks and stay on board, investigate, and research to know what's Worth and what's not, even if you're throwing away a Penny,you still got to value it.

It's actually sentimental to see news outlets or blogs tagging ever scam done by individuals on cryptocurrency. Were some of these scams not/still done before involving fiat money. Was local banks actually not involved why was there no headlines stating them?

Its no longer news to tell people to do DYOR but some people (mostly new investors) see cryptocurrency as quick get rich scheme and the greed leads them to falling for this schemes.

I feel government should but more laws holding these celebrities accountable for every ponzi schemes they promote. But since it concerns cryptocurrency I don't see them doing anything but rather will be happy to have it on the bad side of the news.

The annoying part is that this influencers know nothing about the project the promote and because the get paid the give in their best to see the promote some bunch of scam work either knowingly or ignorantly. So far i have restricted social media to entertainment and societal, economic, geographical and religious news. When it involves investment i read from the project's official websites and draw my conclusion from there so i don't let any influencer decide what happens to my funds.

It will be a blind move to listen to this social media influencers in the first place except for crypto experts who devote their time to studying projects and understanding their mission statement and even at that every investor are expected to do their research after having a session with those experts to make some confirmations or decline the project

We all intend to get rich but not everyone will bebat the same time, knowledge about Cryptocurrency is a wide coverage whereby newbies bneed time to read and revise through before they can understand the meaning behind everything, but we make them understand that choosing bitcoin as a starting point for better safety is most preferred than searching round about for alternative coins, this will help every beginning have a good and sound background to work upon and build an undeniable experience with bitcoin when starting.

This is the reality of trusting influencers as they don't care about their followers emptying their pockets but rather securing their own.
That is somewhat disappointing but guess what, even how many times we heard this and people read/hear it, whether to agree with me or not, many people are still doing this. I don't believe in learning from experience because these many people still don't learn anything from the past but they believe in the 2nd chance.

Influencers that easily become tools for scammers to use in popularising their dubious coins are those that influencing is their major source of income and need to keep influencing for brands to be able to meet their basic needs. If offered an enticing amount these individuals do not mind selling themselves to influence and push popularity for anything even without themselves having good knowledge of it.

I won't pass any judgements on the influencers after all, it's there job and they are only doing there bit in the crypto space to project and at times, they too are the victims. We are familiar with the bounty board as a bard in which, we've got over 90% of projects undergoing promotions to be scams from history and still we've got a thousand more still being promoted.
Sm times, these promoters are a victims too as much as those who invest in the project with hopes that it would turn out to be some gainful investment or something important I'm the crypto industry.

Whats there to understand is that, you can never be too smart on your investments in the crypto industry. Some times you win and at other times you lose. Let the wins be a worthy compensation on the loses you would encounter on your journey and be good to accept which one comes.

Investing in the crypto world is not easy, there will be many risks that will occur if you don't understand it. Most importantly know what to do in crypto. About the percentage of wins and losses, of course, you have to think about, making sure the average profit is greater than the loss. This can be overcome with a good strategy and the right analysis, indeed there will be no 100% correct analysis, but it is better than just using feelings. Investing in crypto is not easy, but everyone can learn and minimize losses.

Influencers are in fact never responsible for the risks and returns of your investment, so people will always advise you to take it as financial advice. An investor must be able to do good analysis before making decision so that they will not regret it in the future.

Look at how many percentages of profits investors have received so far who are really able to analyze the market and bitcoin potential. They are actually not all know and clever, but their financial strength has sometimes brought them closer to big profits. I can't imagine how early adopters profited last year to be exact on November ATH, it was something that was completely beyond their expectations in bitcoin's early years.

If you choose altcoins over Bitcoin.
There's always a high risk when choosing which is the right investment in altcoins, the hype could be the number one goal of those altcoins owners to lure investors, and if you'll fall into their trap, you'll be their next victim.  It's easy to spot influencers on social media, you can unfollow them or put them into your black list users.

Investing in Bitcoin alone which is proven in the market has been potential to make a profit but there's no specific time when you'll get it.
It's trusted by most investors and some countries already making it a legal tender so I think, there's no single altcoin that can surpass Bitcoin's potential(aside from Ethereum).

Bitcoin and Ethereum are the best choices for investing in crypto. It's very good in the long run, because Bitcoin is already gaining adoption from several countries and Ethereum is the top altcoin that rivals bitcoin. Both have the potential to generate short-term and long-term profits. I also wouldn't risk my money just for some obscure altcoin that would end up just being trash. Many altcoins are created just to pump and dump and then disappear.

I personally still Bitcoin to be the best investment of all time even though Ethereum is undeniably the top altcoin but I have never kept it except Bitcoin.
Bitcoin adoption has now almost spread in several countries this makes me more believe bitcoin will be better especially as a legal tender in some countries too so I am optimistic about investing in the long term and doing this weekly DCA practice it will be easier to hoard more bitcoins much in my view.
Altcoins have had many cases where the price dumped 99% dropped and never came back so I hope you don't choose altcoins again as an investment, except trade to expect quick profits there.

Social media accounts of celebrities are targets for giveaway scams, there have been successful crypto heists in the past using accounts of famous individuals. It’s amazing how people blindly follow their idols. Many of these so called social media influencers do not know a thing about the products/service they get paid to advertise on their platforms, most of them didn’t become famous because of their intellectual ability and probably can’t hold a intelligent conversation behind the camera, You can’t hold them responsible when you lose your money to scam projects they advertise, that’s why I don’t give them the time of day.