DYOR or just follow famous people?

[Adbitco]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

You can't just follow whomever  that gave you signal or information about your investment, have you think how much time they invested in making research about what you wanna take from them?
Sometimes it's good to follow some famous people but not everything they do you should follow as their target is never the same as yours so while following them apply some techniques that will help to guide you through despite the challenges you would still be at your fit.

[ipanks]

I have that experience but I also make huge profits from my analysis. I think that is because of their luck to invest in the right coins. Some friends got that experience and made huge profits but not always getting the same experience since those people can not always give the right information. You can follow famous people but do not just follow because they are famous but you need to research by yourself to get more info.

[Ararbermas]

If you use to read some positive news in the internet or what type of news it's, of course you can avoid losing money from some situation in the space that always suddenly occur without knowing or any sign , wherein even you have skills and enough knowledge it's still not safe if you're not making research every time before doing your work, especially in trading because of the volatility and false signal there's always a chance to make mistakes, so make research very often to avoid problems and etc. because nowadays news is the only one that can really made an impact in the market, so we need to be smart as well.

[justdimin]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

I understand that everyone would say it is better to not look at famous people and do your own research. However one thing we are forgetting here is that just because you look at what the influencers are saying doesn't mean that we can't DYOR neither. Go check what they are saying because that is usually the places that have enough money to do marketing and 100% guaranteed paid those influencers to say their name. And that is literally the reason why we see so many useless tokens go up.

However just because those influencers talked about a coin doesn't mean you have to buy it, just research it and you will see how great or terrible it is. That's my trick, I check what influencers say and then pick something among them, I still do my research on all of them.

[teosanru]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

Never follow anyone blindly, famous people especially those outside the crypto space are just paid for what they endorse, they themselves haven't brought a penny of the coin or NFT they are endorsing, on the other hand, those within the crypto community are generally biased, they are biased towards the projects they like, for example, if a person is biased that ETH is better than Cardano, he will only recommend projects relating to ETH and built on ETH blockchain rather than overall good projects, similarly if someone thinks that Solana is better than ETH, he will recommend you only SOL projects.

[irixo10]

There is always a saying, buy the rumours and sell the news (I think I get it right), this has been happening for a long time now, so if someone is doing such, the person is quite taking a risk which most of the times pays off. Also, if one decides to follow famous people or Influencers, the person is also taking a risk and most times it pays off, but the problem with this particular one is, you might find it hard having a clear exit point as you might continue following the Influencer with the hope the price will continue going up, without knowing the Influencer is already out of the project.
Lastly, making your research is also the best, at least you know what you getting involved with, and if you make such research towards a particular trend you will stand at a good position to profit earlier, also most times your personal research will provide you with an entry and target point, could be long term or short term.

[Natalim]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

I understand that everyone would say it is better to not look at famous people and do your own research. However one thing we are forgetting here is that just because you look at what the influencers are saying doesn't mean that we can't DYOR neither. Go check what they are saying because that is usually the places that have enough money to do marketing and 100% guaranteed paid those influencers to say their name. And that is literally the reason why we see so many useless tokens go up.

However just because those influencers talked about a coin doesn't mean you have to buy it, just research it and you will see how great or terrible it is. That's my trick, I check what influencers say and then pick something among them, I still do my research on all of them.

I think DYOR must be applied all the time especially that we don't know if those famous people can be good influencers or not. There's nothing wrong if we come to believe them but we should also do our part and that is keeping researches on what they are making us believe. So get some idea from them but definitely the final say will be coming from us.

Sometimes i also check some speculations coming from big whales and its not really all the time that they are making right speculations so others tend to avoid them before they can create wrong moves just because they fully rely on what those influencers say.

[Lanatsa]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

As long there wouldn't be those exaggerated sentiments then I might take a peek on that popular person that he do suggest or recommend and as long it isn't something pump and dump scheme then I might consider it out.

It isn't bad to follow someone as long you do make your own research and make out your own decisions without being influenced fully be someone because it is just regrettable on losing money
not on your own decisions.

Always DYOR and don't easily get hooked up with hypes and similar things.

[Fredomago]

I think DYOR must be applied all the time especially that we don't know if those famous people can be good influencers or not. There's nothing wrong if we come to believe them but we should also do our part and that is keeping researches on what they are making us believe. So get some idea from them but definitely the final say will be coming from us.

DYOR as always, most of those conservatives types of investor always deal with research first before taking any actions. It saves a lot both of your time and money, as you may decide appropriately with good knowledge to very market sentiments.

Sometimes i also check some speculations coming from big whales and its not really all the time that they are making right speculations so others tend to avoid them before they can create wrong moves just because they fully rely on what those influencers say.

If you can spare portions of your investment, why not right?

Influencers, especially those known personalities do have impacts with some traders on how they decide their target assets.

If you take the risk and manage to make it the right timing, compensation is very much decent. It takes a big nerve though to risk your money with such kind of projects.

[huu78]

I have 2 friends who made big profits from buying doge when Elon started making those tweets. And they continued to follow him even buying more doge while at the top, and in fact now they are losing even more. It seems to me that a person's influence will be lost if they lose faith. And I personally would not follow the influence of others without research. Even if I lose I will not regret it because this is my decision, not following someone else's path.

[gaston castano]

i think in the long run, DYOR is more usefull than only follow rumors or famous people, market will movement with development and not only rely on news/fud, so if you do research and lose its okay, you can try another project to invest.

[SquallLeonhart]

You can't just follow whomever  that gave you signal or information about your investment, have you think how much time they invested in making research about what you wanna take from them?
Sometimes it's good to follow some famous people but not everything they do you should follow as their target is never the same as yours so while following them apply some techniques that will help to guide you through despite the challenges you would still be at your fit.

The logic is that if there is one person who is almost always right (doesn't even have to be always right, just profitable enough) that could end up guessing directions of coins all the time, then that person could make even more money. How? Well, if that person is Warren Buffet then he doesn't need to tell you that all, but if he doesn't have anything over a million dollars, and he is not known by anyone then it is possible for that person to get super famous, use that fame to sell ads, and then they could get to a level where they are known by anyone in crypto world and rich.

How many people in the world would say no to that? I mean I would say no to that because I am scared of fame, the idea of being known by everyone doesn't excite me but scares me, but there are billions of people in the world who would love to become famous as well.

So, what do you need to do in crypto world for that? You need to be right about your suggestions, if you are right then you will get famous and rich, if you are wrong then everyone will hate you and you will not get ads. So, people follow them because they know that he needs to be right for himself as well, not just to "help people make money" they need to do it because of themselves.

[molsewid]

I have 2 friends who made big profits from buying doge when Elon started making those tweets. And they continued to follow him even buying more doge while at the top, and in fact now they are losing even more. It seems to me that a person's influence will be lost if they lose faith. And I personally would not follow the influence of others without research. Even if I lose I will not regret it because this is my decision, not following someone else's path.

In my own opinion there's nothing wrong listening to the influencers or being curious by those well-known personality who shills a certain project on their social media which project or token they are promoting as long as you make your own research about the project. In my personal experience I used to listen to some influencers I know that really into cryptocurrency but before I am going to invest in it I do conduct my own research before anything else. At the end of the day you were alone by yourself to invest so provide yourself a better knowledge about which token or project were good for investment.

[tz]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

Plenty of friends who just blindly follow Youtubers and buy random NFTs/alts that have no value.

They might be making profits in the short run in a bull market but their portfolios are going to take a beating when the actual bear market starts. It's simply not a sustainable way of making decisions over the long run.

Don't get fooled, guys. Short term success has virtually no bearing on long term outcomes.

[Cryptoababe]

I do my own research and also follow famous people too.. But most time, i only make enough profit when i invest on what i do my own research on.

[traderethereum]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.
Have you ever had such an experience?
If you have,how about your friend ?they make a fortune or not?

I am not sure if they follow. Famous people can make huge profits, but I will not deny that when that happens to Dogecoin because many people followed Elon and tried to buy Dogecoin in a big amount and suddenly, many people are making huge profits.
After the Dogecoin party is ending, it is difficult to follow those famous people as many of them know that they only want to make a noise in the crypto world and only think about their profits.
I only want to warn people who still follow famous people not to depend on them because they do not know much about what will happen to the crypto and only want to benefit from you.
If you can analyze better than them, you can stick with your analysis and try to benefit from the crypto market situations to profit many times.

[peter0425]

I do my own research and also follow famous people too.. But most time, i only make enough profit when i invest on what i do my own research on.

Be thankful at least you are learning by yourself and that is what will be your weapon in trading in future.
remember that it is much better that you know things than listening to other all the time.
you may not earning high but at least you are not losing right?
it is very few that making profit with their own strategy and knowledge .

[Doell]

Just follow famous people sometimes it works but it's not enough to just follow it mate ,we have to do our own research I think and look for opportunities within the existing trend ,In my experience assets are important don't sell losse on coins do have a future because one day it will go rise and get a lot of profit
Yes there are friend who also follow famous people but it doesn't always work because there is a lot of speculation that is wrong AFAIK many claim to be experts but crypto can't predict

[sangjoewara]

Plenty of friends who just blindly follow Youtubers and buy random NFTs/alts that have no value.

They just like to make decisions to make good profits even if it won't be in the long term, because every profit will always be worth it and they can immediately move to another place when it's no longer profitable there.

They might be making profits in the short run in a bull market but their portfolios are going to take a beating when the actual bear market starts. It's simply not a sustainable way of making decisions over the long run.

Every profit is a very valuable goal and target, so they also won't be wrong if they apply it at this time, because in the short term everything can be solved very quickly after they withdraw the profit.

Don't get fooled, guys. Short term success has virtually no bearing on long term outcomes.

It clearly had nothing to do with it, since short-term targets were only executed for a short time, so there was definitely no connection and it wouldn't be wrong either if one wanted to do it.

[Dread Pirate Roberts]

Sometimes you do so many research for your investment,but you make a loss at finally.In the meanwhile,your friends just follow famous people or obey some rumors,and they make huge profits.Have you ever had such an experience?If you have,how about your friend ?they make a fortune or not?

like in doge coin and axie. many people are influenced by other people's content or famous people. and they make a big profit. The point is that influencers or famous people will make projects reach more people or more larget target market. and the bigger the project, the bigger potential for project to success.