Why invest on a project because someone said they are good?

[swivel1983@gmail.com]

Yes, I made those mistakes, too. I bought some coins because other people recommended them. But then, when I started to figure it out, I realized how wrong I was. Because the profit I don't have any.

[oktana]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

Although Charlie Lee does not admit it, but LCC is a split form of LTC hardfork in February from groups outside of official Litecoin.

the same as Bitcoin candy, which is not exactly the same as BCH. LCC is still actively developing until now, it can be seen in CMC

Investments that only come from good assumptions are not enough. But if your friend explains in detail about possible details and risks, then you can see he is someone who is competent or not, and the impact is educating you to be smarter as a personal analyst and not to plunge you.

[dirgayeah]

One good recommendation for project is not enough. You must do your own due diligence before investing in any project. The safest way for me are investing in top 10 projects which is still cheap and bellow one dollars like TRX, ADA. before they reach their ATH, just lock and load your bag from now.

[uneng]

why invest on a project because someone said they are good?

If this *someone* is a professional in investing, crypto, trading, economics fields it's a good idea to follow his advice and invest on the currency he is talking about. The problem in crypto universe is that there are many people claiming they are experts, but in fact they are just guessers, speculators.
Then they advice people to invest in many weak crypto currencies or scam schemes. Be careful on who you trust and look for informations of a same currency, project, investment from different people.

[fuer44]

because what someone said and moreover he is more senior than us, surely we will indirectly believe in what he said. but that doesn't guarantee something will be successful at the end, because it's useless if the project is so good but the team doesn't manage well, then the project will also end up dead.

[Aabcde]

As I see it, it looks like your friend got hype. I don't know if he has researched it first or not, what is certain is that I like the way you are. When your friend explains a project he is taking and invites you, you look for the information first rather than jump right into uncertainty.
GOOD or BAD is just a play on words in my opinion. Which is both played by people to influence the mind, so people who are lazy to find out can be directly affected.

[Polar91]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

Simply because it attracts foolish people and it sometimes some of them hesitate to resist because of personal relation to that certain person who are offering them to invest. Some of them also invest on the project they don't know because they believe that this person's faith in an investment is correct wherein they have no more question about it because it's enough.

[yulionoo]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

maybe because your friend is someone who is a newbie. so he sought advice or opinions to the more senior and older in the crypto market. I used to be like that often asking friends who have long invested and traded in the crypto market. what is important is that the friend we are asking for advice is a good and honest person and we already know close.
but even though we've asked, we still have to do our own research. so that when the coins we choose don't match our expectations we won't blame others. because it's also the result of our own research.

[nicster551]

Its because of hype my friend, most investors in this industry invest in some coins due to the hype of some famous shillers. And dont get caught in it too. You have your own decision, never let someone get that from you. Always do your own research on a specific coin.

[elisabetheva]

In every field there are people known as influencers, some people rely on them in making purchase decisions because they trust their judgement. I'm not surprised people invest in coins following another person's judgement, while it might turn out fine, I believe in doing your own research.

It is not advisable to ask questions that we don't know and can trust to ask whether a project is good or not if we want to invest in it. I agree more with the words above that it's better to do your own research than to ask people we don't know.
not to underestimate bounty managers, they are sometimes wrong and fail to bring a project to success. even though they may have more experience, so in principle I prefer to ask friends or research themselves and hope luck can be with us.

[lienfaye]

Even your friend suggest the coin is good you should not rely only to his words, conduct your own research to see if he has basis then decide for yourself.

The problem for some of us is we are not cautious and just going with the flow of the current hype without proper knowledge about it. Suggestions are welcome but its not enough reason for us to invest because if you do then you're likely one of those investors to fail for being careless.

[Pinkris128]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

It's all about the hype and the promises made by those "analyst" that is why many people took the risk in investment. But walking blindly to an unfamiliar territory can lead to unwanted consequences. It is not enough that you knew the risk. One should at least lessen it by researching extensively about the project.

[asus09]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

What coin is it called litecoin cash, I only heard with litecoin because listed with big exchange and have top ten position with coin market cap, sure today first time I heard with litecoin cash because I don't see have ICO for this coin or not, maybe keep investing and holding with good coin only because you can get much profit later if potential altcoin for holding and forget with shit coin can make lost your money.

[judeafante]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

It's ok to listen but you need to dig deep on your own, and don't just rely on what has been said, you never know they are bounty hunters and they are paid to promote the project, or worse, they are ambassador and they are paid to recruit so check the project if it's worth investing.

[NathanJB]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

It depends on who that someone is. If that someone is just a random guy from somewhere in the internet, then it is really not right investing on a particular coin. But if that someone is like Jeff Bezos or Bill Gates, I might consider investing on the coin. I have not invested on Litecoin Cash. Just by the name of the coin, I know it is nothing but a mere replica of the Bitcoin Cash of Bitcoin.

[huu78]

Do not be trusted in others even though it's your own friend let alone the problem of investing in new projects now. He leverages as your referral so they get a bigger bonus. So, do not be immediately trusted on a thing before you dig deeper and you are sure new you can trust your friend now.

[andriarto]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

It's ok to listen but you need to dig deep on your own, and don't just rely on what has been said, you never know they are bounty hunters and they are paid to promote the project, or worse, they are ambassador and they are paid to recruit so check the project if it's worth investing.

indeed, if more and more campaign participants participate, it can be an indication that the project is good and worth investing, let alone supported by a good bounty manager and an experienced team. it can be another analysis beyond the analysis of the project itself

[TastyChillySauce00]

A friend from my street came by today to tell about a coin named LCC (Litecoin cash) and he told me he has already invested on the coin, i asked him what makes him invested in it, like what is the real use case of the coin and he have no straight answer, after a while i found out he invested in the coin because of what a analyst said about the project, are there people like this on here? after so many scams since 2018? i decide to do few diggings and i see that LCC is not that bad but my point is why invest on a project because someone said they are good?

It depends on who that someone is. If that someone is just a random guy from somewhere in the internet, then it is really not right investing on a particular coin. But if that someone is like Jeff Bezos or Bill Gates, I might consider investing on the coin. I have not invested on Litecoin Cash. Just by the name of the coin, I know it is nothing but a mere replica of the Bitcoin Cash of Bitcoin.

Even if those are Jeff bezos or Bill gates I wouldn't trust them I mean why should I? It's always better to trust on yourself in this case because it's your own money and not theirs. Even Jeff Bezos or Bill Gates could have their own motive. Maybe, the hype will build up because people always believe whatever the billionaires saying in term of financial and economy is the truth and therefore makes the coin gaining popularity or even instant profit but it's just temporary. There's just too many factors need to be considered and while these testimony from the billionaires could make the spotlight they are not the deciding factors.

[bgaf]

Depends on that someone says it's good. Actually I listen on some of my friends when they say they say buy this one it will pump cause they have experience in trading sometime I believe them cause it really did but not totally accurate. With regards to investing, maybe IEO tokens on big exchanges are the one I will only invest cause I can see the ROI.

[Mia44]

It is also understandable, when someone does not understand something, they must consult with other people, with experts, their opinions will be more important. But in the cryptocurrency space most of the judgments are exaggerated and inaccurate, Participants need to learn for themselves what they intend to invest.