Who would actually believe celebs promoting crypto?

[Patatas]

DJ Khaled and Mayweather had an issue about shilling an ICO. And other celebrities hyping or promoting scam coins. Who would actually rely on their words? If you're listening to celebs then you are not ready for this type of market at all.

I was going to start a thread about this but stumbled upon yours. Great!

Anyone interested in reading the full story : https://www.forbes.com/sites/francescoppola/2018/11/29/floyd-mayweather-and-dj-khaled-were-paid-to-promote-a-fraudulent-ico/

The name of the ICO is Centra and according to the FBI, they're a fraudulent ICO. From bitcointalk to celebs like these, man crypto is going too far!! Well, not in the right direction.

[gentlemand]

You can't consider something unless you're made aware of something. I would hope most people are clever enough to take what's hawked at them by celebs and then think about it objectively.

I presume there's no way of knowing what the conversion figures are. I'd love to know all the same.

[btc-room101]

It's the 'cool factor', the thing with BTC is they have run out of suckers, so now they're bottom-feeding on the lowest classes in the USA, trying to reel new fish into the pond

It's good that SEC is now protecting morons, its sad that it took +5 years to close the door on criminal swindling that revolves around BTC.

Like PT-BARNUM, and George Carlin said, you take the most stupid person you ever met, and you divide his IQ by 2, and that represents the average IQ of the USA population.

If this shit didn't work, people wouldn't spend 100's of billions on advertising.

[CammBamm]

I think the key message here, and I guess it goes for any celeb promoting any product...is does the celeb actually know anything truly about the project/product? Are they a genuine fan, perhaps and hopefully an investor, have any skin in the game? Or are they merely just a figure head, a puppet in the hope that by Celeb A promoting product XYZ, the masses will follow?

There are celebs out there who genuinely believe in and support what they are promoting or endorsing. Sadly there seems to be so many more who are just there to take the photos, bust out a few tweets and then cash the check!

[Apple Mac]

DJ Khaled and Mayweather had an issue about shilling an ICO. And other celebrities hyping or promoting scam coins. Who would actually rely on their words? If you're listening to celebs then you are not ready for this type of market at all.

Why not,  since we all know Bitcoin is becoming popular in any form of media, and even popular icons may be involve to this given that when it comes to mass, they were one of the most easiest way to convince a large group of people and in marketing strategy it is a plus for them to be honest, and the usage of Bitcoin will be more and more popular to the people.

[Olayinka225]

Yes listening to those celebs talk about crypto is not something one have to rely on. Most of them or all of them might be doing the hyping of some ICO's or coins jusy because of what they too have been promised out from the profit made from such project. Is just like they're been hired to do the hyping for them and after that have been achieved,  they leave and abandoned the project for thr project owner.

[Naughty Princess]

Actually, popular people can influence people more than you think. There are many examples of them winning elections. Remember Arnold Schwarzenegger and Donald Trump?

Of course, smart guys wouldn't fall for their lies, but the majority of people is stupid. So, educate them!

Sometimes, popular people help to promote the projects because they influence and get trust to people. They can be used to educate the people about digital currencies give benefits. When they are the first to invest, people will follow, that is how powerful they are. Even they do not do that much, they gain popularity on the public.

[Pmalek]

Celebrities promoting cryptocurrencies is paid advertising just like promoting Nike or Adidas or any other brand. They dont really care what it is as long as they get paid. Whichever cryptocurrency pays more they will promote it.
No reason to pay attention to it whatsoever. For me it is like a paid review on one of those ICO review websites.

[greg458]

It depends what celebrity is promting the crypto curenccy,the celeb has to prove that he used thecrypto currency for his fans to believe him or  for me to believe.So i think believe the ones who showed that they used the crypto currency and that they like it,but there are a lot of celebs that whant to get payed to do a crypto currency ad.

[trauchot]

Of course, I understand, but there are fans who are ready to do anything for any celebrity, so even these celebrities will promote scam companies, there are many fans who will invest their money even without hesitation, and smart people will pass by and won't even think about this, because they know how this process works.

[alex_gr_cc]

DJ Khaled and Mayweather had an issue about shilling an ICO. And other celebrities hyping or promoting scam coins. Who would actually rely on their words? If you're listening to celebs then you are not ready for this type of market at all.

I'm also worried when celebrities advertise what they have no idea about. I can't understand how people can trust them blindly. We should only listen to real experts who have experience. But even in this case, we must make an informed decision on our own.

[jaymmagne]

Celebrities are so influential that makes other people pursue on each advertisement they are promoting. Even though many people don't have much knowledge still on crypto world.

[cokroalif]

it was the strategy of an ICO project, by cooperating with ambassadors "I did not name anyone" to draw attention from every greeting to their fans and also the fame of the ambassador.

[swiftbits]

I've seen Manny Pacquiao promoting some kind of crypto project on his last boxing fight which is called GCOX, actually many Filipinos were attracted to the project and join on its Bounty Program, not sure what happened to it.

Many projects use popular celeb and events to promote because it can raise millions$ in a day
Don't know if it's believable as well since its all paid.

[btcjocan]

DJ Khaled and Mayweather had an issue about shilling an ICO. And other celebrities hyping or promoting scam coins. Who would actually rely on their words? If you're listening to celebs then you are not ready for this type of market at all.

Well those people who are uneducated on cryptocurrency would probably believe on celebrities most especially if they idolized them.But if they're knowledgeable enough on how cryptocurrency and ICO works they would never jump into conlcusion without even trying.If they try to they will know how valuable bitcoin and altcoin was and will not believe on their idol says.They will know its existence was very helpful to each one another.

[ethereumhunter]

As other members said, I believe that their fans will follow what the celebs say although that celeb doesn't know anything. It could be a new trend in the next year if this get success and the other project will follow this way too. But I am curious about what will happen later for using the celebs to promoting crypto, and I wonder how many people will come and attract to the crypto world. But I realize that this will help cryptocurrency to grow more in the future.

[gesdan]

I don't know about the celebrity promoting cryptocurrency. I think when the celebrity promotes bitcoin and cryptocurrency is the good ways because it can make the popularity of bitcoin is increasing.

[idontcare]

Celebrities are so influential that makes other people pursue on each advertisement they are promoting. Even though many people don't have much knowledge still on crypto world.

People simply know the outside of the crypto without going deep inside it, and then get back the results of the stupid people who give their money to others. This is just one example .

[Patatas]

Why not,  since we all know Bitcoin is becoming popular in any form of media, and even popular icons may be involve to this given that when it comes to mass, they were one of the most easiest way to convince a large group of people and in marketing strategy it is a plus for them to be honest, and the usage of Bitcoin will be more and more popular to the people.

The problem is, it wasn't bitcoin they were promoting. They were promoting a fraudulent ICO. There's a big difference in that and the later can get millions stolen from the fanboys who follow these celebrities blindly.

Of course, I understand, but there are fans who are ready to do anything for any celebrity, so even these celebrities will promote scam companies, there are many fans who will invest their money even without hesitation, and smart people will pass by and won't even think about this, because they know how this process works.

That's correct!

[bitfocus]

Marketing tricks, lol