Celebrities advertise scam ICO again

[JCviggen]

SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
 
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.


do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

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[shinratensei_]

As far as i know, if the celebrity is only taking care of the money and he doesn't even care about what will be the result if the project. This is a very bad attitude from the influencer to gain money even if that can be through the way to fool others. This thing can't be appreciate and just hope SEC tries to give at least a penalty to this celebrity who has been promoting scam project. I believe if they understood what they have been doing by promoted the scam project in the past.
Just let people aware of this to make sure if they will not be fallen to the same thing again.

[bittraffic]

They probably didn't understand, they just get paid to do it. I doubt Floyd understand the project STOX when he promoted it back in the days, it may have been in the market still but its just right there. Exchanges didn't delisted the project for they also wanted to profit the STOX they got in their hands, probably even put the sell wall.

Celebrities are used to promote projects, there are local coins in my country who were also doing this but I doubt if they understand what blockchain is.

[Tipstar]

They probably didn't understand, they just get paid to do it. I doubt Floyd understand the project STOX when he promoted it back in the days, it may have been in the market still but its just right there. Exchanges didn't delisted the project for they also wanted to profit the STOX they got in their hands, probably even put the sell wall.

Celebrities are used to promote projects, there are local coins in my country who were also doing this but I doubt if they understand what blockchain is.

This is correct. They consider it as just another product they are advertising for. Just like some perfumes or food chain.
They don't necessarily have to use it or hold it. They get paid in hard cash, they don't even have to know about crypto and blockchain.
And most probably it's their manager that handles it and they just get their lines when it's time to act.

[Javi_Anibarro]

I believe he already did his own research but did not dig it too deeply, do not forget the majority of them have a manager or staff for marketing and research. There is no way they will promote everything that people offer to them directly without researching it. It is just lately a lot of scam projects can cover their scheme cleanly, Have not you noticed it yet a lot of well-known projects that raised million/s dollar were a scam? how could they do that? it happened because they are very good at talking and covering their scheme.
Scam or fraud has never been a good thing in the first place.

[ned.ryerson]

these "stars" just want to make money. I am sure that they do not understand anything in cryptocurrency and especially in new ICOs. Ico is very good in creating good stories about a rich future.
But the problem is not in that the stars advertise what they don’t know about, but in the people who follow their recommendations

[aioc]

SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
 
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.


do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

If they know that it's a scam project no way that they are going to advertise so it's the latter, they don't understand what they are doing, so I don't believe in celebrities endorsing these projects, I prefer to look on the platform potential and the developer of the project and not those marketing the product.
 

[dainoran]

there's no harm in using celebrities as promotions at ICO, but we also shouldn't be too confident about what celebrities are promoting, we have to find out about ICO and also we have to find out whether celebrities know about cryptocurrency, and whether celebrities can be responsible for what promoted.

we must be smart people in choosing investments so that we are not easily caught in fraud.

[Ridwan Fauzi]

You have to put the source information here.

Cryptocurrencies are a bussiness, so I think everything should be made by careful planning. I mean, they should know first about the ins and out about ICO and any type of raising fund.

So, if we judge that he doesn't know about the ICO itself it might too late. He should know about them all, don't just make a decision to be part of the project but he doesn't know anything, it can be worst.

[avikz]

there's no harm in using celebrities as promotions at ICO, but we also shouldn't be too confident about what celebrities are promoting, we have to find out about ICO and also we have to find out whether celebrities know about cryptocurrency, and whether celebrities can be responsible for what promoted.

we must be smart people in choosing investments so that we are not easily caught in fraud.

Contrary to your thought, it's actually a big problem! There's actually no way to know if a celebrity promoting ICO is actually aware about the thing they are promoting. Having a celebrity associated with a brand, is actually a game of credibility! So people fall for such trap very easily! Such things should be stopped right away before more dollars from the investor's pockets are lost!

[ATSgrowth]

When people finally realize that these projects are made only to get easy money from investors? Secondly, when they realize that true cryptocurrencies are decentralized and do not push anyone to use it through agressive marketing.  

[Slow death]

When I listen to these kinds of stories, I wonder how it can be possible?

what are the main points that a person has when starting a business or a company?

1 - the person is concerned with the laws of the country

2 - the person does market research

looking at celebrities, I believe that celebrities have lawyers and business managers who take care of everything that celebrities do, so use the argument that celebrities don't know anything about cryptos so they can be easily deceived, I think it's a very weak argument

Steven Seagal, has a lawyer and has a financial manager (I think he must have), so how did he get involved in all this? this is a big question that I don't understand

[akram143]

Literally they can advertise anything for money so don't blame then when you invested on to something worthless.

They doesn't hold any responsibility for loss because they are just a promoter just like a bounty hunter.

[Pearls Before Swine]

Op, a link would be useful in this case although I don't disbelieve what you wrote.  S.S. doesn't exactly have a fully functioning moral compass, and I'm not even referring to any scam promotion.  In my opinion he is a detestable human being and a mediocre actor at best.

People who have been in the crypto space for a few years at least probably won't be influenced by what celebrities are doing or not doing, at least I would hope not.  Celebrities often speak about things that are far outside their competency to do so, like the ones who are anti vaccine crusaders.  It's ridiculous.

[batang_bitcoin]

This is for real.
Steven Seagal Charged by SEC for Promoting 2018 ICO
He probably doesn't know that the project is a scam but paid him that much so he advertised it. How many celebrities will endorse a scam ICO in the future. I guess they will learn from this experience and the others.

[sockpuppet1911]

SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
 
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.


do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

Again? Isn't this old news? I mean he was already fined for it. But i am looking for that phase to happen in the future because that would mean bull market.

[dongosquad]

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do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

Paid promoter, a famous artist without a crypto background, somehow I am not interested at all because there must be an economic element, obviously, the aim is only to attract the attention of many people to join because of influential people, but is it effective? of course not, cryptocurrency is entirely affected by supply and demand and if the project is not good even if it is supported by an artist then no one will be interested and we can be sure the price will slowly go down. But this is not something that can be concluded with a narrow timeframe, it could be a pump price someday, who knows? depends on many factors.

[DarkDays]

SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
 
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.


do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

Yep, I think that most celebrities don't understand that their endorsement is going to cause people to lose money.

Nor are they aware of the legal ramifications of what they are doing. This is their own fault in the end, since they'll be the one facing legal actions like Steven is.

If you're found to be advertising a scam, whether knowingly or not, you could be liable. The same goes when advertising dodgy projects like Bitcoin2Gen.

[Perfect35]

ll i see is just the love of money to be collected. They are only after what they will gain and not what their followers will think of them afterwards. A celebrity that cares more about money than his/her reputation or integrity in the society, would do such. i am sure that a lot of them would have known the risk involved, but will not mind or bother themselves on what will be the outcome.

If what he has done was out of ignorance, he would have learnt his lessons.

[_IRMAN]

do you think celebrities know that they advertise scam projects or they just don’t understand what they are doing? I think this is a big problem for the market

Celebrities usually only want the money, they endorse without knowing whether the product they are promoting is genuine or not, he doesn't care about the buyer, he only cares about the money