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

[Zdraste16]

The fact that information about the project has reached you and investments in it will bring profit.  No need to rush, the adoption of such a decision should be well balanced.  You need to analyze as much as possible, study the technical document, learn about the development team.  Is there a promising and relevant project idea.  And although everything looks like a successful project, you should consider that it takes time and a huge amount of work for developers to develop and complete a finished product.  This means that if you invest, you need to believe in the project and wait for a successful launch.  Those who want to get rich quick on speculation run the risk of losing their investment.

[bitvalak]

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?

The fact is that many people invest because of the speculations carried out by the analysis as well as those considered senior.
Then there was a hype where many people believed it and finally anyone would make an argument to justify what they had heard without them finding out for themselves what the project they were going to invest in.
That's what makes the current conditions chaotic.

[imutlinda]

Laziness is one of the reasons why some people still believe what others says, they don't want to make their own reasearch because they knew it will take some time that is why they prefer to listen to other people's advise on which coin to buy. Maybe they are being greedy too because once they see that there is an offer of huge returns then they instantly invest on the coin without doing proper investigation.

laziness and also curiosity become a big problem in a person, if only he ventured to try then he would get used to doing it repeatedly. but come back again whether he is able or not, so prepare mentally to start investing with the aim that you can be independent in doing so

[Pecunia non olet]

Because you are not educated enough to decide for yourself. The investment based on recommendations has its problems because you do not fully understand in what you are investing and when it starts crashing you start to panic because you don't understand the project in what you invested.

[(o)(o)ilikeboobs(o)(o)]

I good to have friends at the same side, always.
but I don't trust anyone 100%, and always do some research before decide. don't be silly. ponzi is a great lesson

[irixo10]

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?

Simple, because the see those analysts as gods and the funny thing is, they always end up disappointed. Another funny thing is, most of these analysts does even invest on this coins, they only take their promotional fees and go their way. It is not a crime hearing what one says about a coin but it is wrong investing without making your own research to ascertain if everything he said is true and if the coin is worth it. If possible stop listening to them, they have caused more harm than good already.

[leowonderful]

I always do my own research on a project, though I might skim over other peoples' reviews of a project to get a quick overview of what it's really about and some of the basics, though I find that most reviews tend to be very shallow and don't do much besides state a few major points. Everyone's trying to shill their own thing, and it's been this way since forever, so make sure you're getting the real information and not what someone wants you to think. You have plenty of time to make a decision of whether or not to invest in a token or coin, so don't rush it.

[electronicash]

i'm not surprise. some of those who are new to crypto are just not into reading  what they could find for themselves. but its a good start for your friend to trust cryptocurrency though, i have not heard of litecoin cash but sounds like a fork already of LTC.

if he invested to this litecoin cash, he will soon discover that there are more of coins out there than it. more valuable than litecoin cash.

[satgoldan]

This is the main problem, because people themselves do not want to think, but listen to someone from the outside, but we need to learn how to analyze projects ourselves, since it’s not the fact that those who advise projects do not do this as an advertisement, I watched for a long time activity of the ICO drops community and thought that people there earn a lot of money, maybe someone made a lot of money and left it with them, and many continued to invest further and lost everything a little, I read the article of one person who invested in all the top projects that I recommend the ICO drops community, and in the end it only turned out x2, because in some projects it was x10, and somewhere there wasn’t even listing and tokens remained like candy wrappers, and this, taking into account the fact that this person had experience in investing, only stock market. Therefore, you need to think only with your own head!

[ganeshramk]

One should not invest in a project just because somebody say to you. People should make proper research prior to investing in any projects. This is applicable for stock market or any financial markets as well.

[Mila52]

Some follow the advice of acquaintances and friends because trust their knowledge and experience. They themselves do not even try to analyze and spend time studying information. Sometimes people come together in the groups with a common capital and assets and come to a common decision on investments to the projects and altcoins.

[Yamifoud]

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?

He actually did right. He trusted that person that makes him convince and encourage to invest LCC cause if he's not seeing it right, I don't think he would take the risk and decline. For some time we have to trust someone but of course, we need to dig deeper also if that person is trying to tell something trustworthy or not. It is in our hands to make the final judgment and so our decision. If that person says good, then why not listen to him.

[Chuky92]

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?

This single act of listening to whatever people say whether on the internet or otherwise has dealth with many people.  During the ICO boom many projects were said to be good etc but ended up being the reverse. Let's learn to be careful of what is being sold to us as information about a project and endeavour to make our own research, it will save us from many headaches.
Educate your friends and families who have interest in the crypto space to be careful and learn to invest the right way.

[Zionatin]

You don't. Who is this "expert" why are they an expert? What is there history for investments? Where they right before? Could they be right now? I think in general you must not invest because of what people say but if they have good things to say that make sense and you have checked it out and agree then maybe you should invest. Don't invest in you have a bad feeling. You should only invest when you are confident in the investment.

[batang_bitcoin]

Investing in a project because someone told you because it's good is your decision. So, if that's what happened to your friend as he can't answer you directly maybe that's what happened exactly to him. I wouldn't invest without further research, I can't blame my losses to others so that's why before investing, make it sure that you know what you really are up to. Because if you're starting to see that the coin you have bought decreases from time to time it's because of your negligence.

[xiboothrezi]

If the person has a good portfolio in analyzing the project, can be successful with cryptocurrency with a visible form, then there is no problem if you make predictions and speculations for consideration. But remember, do not make it as a guarantee, there are still many risks because cryptocurrency is very dynamic, many things that can be thought to happen at any time. DWYOR.
I often ask for opinions on one of my trusted trader friends with his sharp analysis, he helps me quite a lot, so I often ask for his opinion before entering the market.

[tenakha]

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?

There is nothing bad in benefiting from the others thoughts. Lets say that someone explains you should get BTC and why. First you investigate it, and if it is appropriate to invest, then try. But be careful, jumping every thoughts you see disgusts you from the crypto sphere. That is why you should study your lessons well. Otherwise, you will believe everything you see.

[adzino]

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?

You mean are there "analyst" who analysis project or coins in this forum? Yeah there are tons of them. Most of them think they are some professional analyst, but all they do is some bullshit analysis with random guesses. Again, there are "analyst" that shill for those fake project and shit coins. There are "analyst" that are biased towards coin they have invested on.
You shouldn't invest on coins or projects just because someone said so. Don't trust them blindly. Do your own analysis.

[Wawa2013]

Yes this happened to me the first time I entered the world of crypto. I invested in hype too, which ultimately tricked me, even though at first I was paid, so at that time I did not have enough knowledge about investing in crypto, I just heard from friends on social media without analyzing it first.

[Crypto5060]

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.