Exit liquidity

[Outhue]

In my early stage of crypto investment I was once a victim of exit liquidity and right now the numbers of crypto influencers on Youtube is growing in numbers and merely seeing this it brings back some bad memories.

My Mistake



I spent few hours per day watching influencers videos on youtube, and u always think they know better than everyone else, they talk about coins that will bring 10x to 1000x in the next bull run and I listened only to realise that they are doing this to bring in new buyers for their own bag to surge and exit on us.

The lesson I learned is all those influencers are pumping their own bags so that people like myself can become an exit liquidity. Always do your own research and don't trust any influencers.

The next successful crypto projects are probably never going to be talked about by anyone or get shilled online by anyone, do not rely on influencers to pick tokens and coins, spend your time finding the next good projects with new utilities, do your own research and invest wisely.

[1714827957]

1714827957

[Bitcoin_Arena]

There's a YouTuber who likes exposing them, I have just forgotten the name of his channel (I think he might be coinzilla)

A few years ago, I had a Twitter account with so many followers(25K+). I would tweet and retweet things related to crypto, and in no time in started getting DMs from different projects asking me to tweet or shill about their projects in exchange for some tokens. Good for me, I wasn't having that dishonest mindset and greed, and I would see most of them as useless scam projects and shitcoins

But the truth is, this is what happens out there. A lot of those so-called influencers are paid a lot of shitcoins in advance, and then they are told to shill so that the price pumps, and they dump their bags. After that, they move onto the next one.

[Yogee]

You're not the first and certainly not the last to experience this hehe.

I think some of the so called crypto gurus or experts started out decent. They had a lot of time to research about a certain project and actually gave some valuable information when they were trying to build their following. Most of them started to become lazy and careless when they got big.

[bullrun2024bro]

There's a YouTuber who likes exposing them, I have just forgotten the name of his channel (I think he might be coinzilla)

I guess you're referring to Coffeezilla (Coffeezilla, the YouTuber Exposing Crypto Scams)

I don't know that account, but I know that the Twitter account ZachXBT is actively exposing influencers, hacks and scams. He has an excellent track record in detecting fraudulent influencers and exchange/defi hacks.

IMHO, he is really one of the good guys out there. I mean, there are so many scammers on social media, so it's great that there are at least a few big accounts that are fighting these pricks and stand up for all the scam victims or the people who become exit liquidity after their favorite influencer dumped his bags on them.

Even in 2023, crypto is still the wild west.

[mk4]

Unfortunately you can't just cancel influencers just like that. Influencers will always exist as long as people continue give them the publicity they need to continue being relevant. Even the shitstain that is BitBoy is still hugely relevant today despite his PnDs being exposed multiple times already.

[SOKO-DEKE]

 I do really see anything bad with those influencers because they are doing their job. Many of them are marketers and  their marketing the project they are paid for.and with that nobody is forcing anybody to invest in the project's but their just try to convince their people so they can buy and that is the advertisement strategy.infact some project even pay some artist to do such a thing, by telling his/her fans to invest in project that it will do like 10x.so we see differences case like before.

So it is a normally thing for those YouTube but you have to wise up by doing your own research after you have seen the awareness of project because any project need awareness so that people can get the notification,and some people are just predicting base on their own research, now many crypto members are saying that Bitcoin will dump again because due their analysis and experience they say we not out of bearish period,from there they  have given you the  idea that we not yet out of bearish period, so with this every is left to you to own research and follow what you see.as for me I always see it as awareness.

[Upgrade00]

The lesson I learned is all those influencers are pumping their own bags so that people like myself can become an exit liquidity. Always do your own research and don't trust any influencers.

Do not trust anyone but yourself and only occasionally trust yourself to trust the judgement of another, when you've done your proper research.
The decision to invest and consequences of that decision is solely yours to make.

Even here on the forum, we've had some reputable accounts (at the time) advertise known scams and some even engage directly in scams, so expect little from the internet.

their just try to convince their people so they can buy and that is the advertisement strategy.

Convincing people to invest in something you know to be a sham, using your influence is not a job and is a low way to earn a living. It's as much as directly running the scam yourself.

[Bitcoin_Arena]

I guess you're referring to Coffeezilla (Coffeezilla, the YouTuber Exposing Crypto Scams)

Yeah, that's the guy. Sorry, I have no smerits to send, but thanks for pointing that out.

I don't know that account, but I know that the Twitter account ZachXBT is actively exposing influencers, hacks and scams. He has an excellent track record in detecting fraudulent influencers and exchange/defi hacks.

I have also come across ZachXBT multiple times on Twitter

I do really see anything bad with those influencers because they are doing their job.

Job of shilling scams to innocent noobs? How is that a job?

Isn't it similar to the 1xbit advertisers in this forum?

Many of them are marketers and  their marketing the project they are paid for.and with that nobody is forcing anybody to invest in the project's but their just try to convince their people so they can buy and that is the advertisement strategy.infact some project even pay some artist to do such a thing, by telling his/her fans to invest in project that it will do like 10x.so we see differences case like before.

I don't care if they are paid or not. Promoting scam is just not right. It's similar to facilitating a robbery

[drwhobox]

That one mistake we all do when we are new to a space. For you and me it was crypto that we heard those guys. Yes they use their influence in every way possible to gain profit from their followers.

A few years ago, I had a Twitter account with so many followers(25K+). I would tweet and retweet things related to crypto, and in no time in started getting DMs from different projects asking me to tweet or shill about their projects in exchange for some tokens. Good for me, I wasn't having that dishonest mindset and greed, and I would see most of them as useless scam projects and shitcoins

It is good to hear that even if you had the chance to make easy money you don't go for that. Some people also create twitter profiles so that they can take offers from companies and promote them out of greed and they cause losses to many people following them.

[joniboini]

and with that nobody is forcing anybody to invest in the project's but their just try to convince their people so they can buy and that is the advertisement strategy.infact some project even pay some artist to do such a thing, by telling his/her fans to invest in project that it will do like 10x.so we see differences case like before.

By that logic, no scammers who promote scam projects would be guilty even if somebody found proof that they got paid to scam people. Being paid to promote something and being paid to say something/encourage people to buy scam things are different.

Some people also create twitter profiles so that they can take offers from companies and promote them out of greed and they cause losses to many people following them.

I think creating a social media account to work as an influencer/marketer is fine, promoting scams itself is not. Sadly it is really difficult to find one who genuinely promotes interesting projects, so many of them want to dump on you instead. I guess it is also silly to expect them not to sell anything especially if they found them earlier than most people. The best thing to do is definitely to never jump on what they said too quickly and do your own research.

[LogitechMouse]

In my early stage of crypto investment I was once a victim of exit liquidity and right now the numbers of crypto influencers on Youtube is growing in numbers and merely seeing this it brings back some bad memories.
~
The next big projects are probably never going to be talked about or get shilled online by anyone, DYOR and invest what you can afford to lose.

I don't know if it's only me, but I call myself lucky because even though there are times that I'm watching these crypto influences in the past, I'm not falling into their trap and I don't buy the coins that they are shilling in their platform.

I remember Bitboy Crypto is the one who is doing this the most. I mean years ago, there are coins that he is sharing on his youtube channel and currently, I don't know if he's doing it still because I'm not watching him anymore because of the shilling that he's been done.

As for me, watch those crypto influences just because you want to get a bit of knowledge (if there are) and a bit of entertainment, but don't follow what they are saying. Like OP said, doing your own research is still the best thing to do when it comes to investing. Don't listen to these influences because it's like you are giving your money to them by following what they are saying.

[Crypt0Gore]

Few crypto influencers are on the good side, they talk about good projects and why they are investing money on them, I knew about the danger lurking behind Luna before the crash through a Youtuber by the name of Coinsider, this guy talks no shit, he will give you the reason to doubt some crypto projects, I learned a lot from him but yes you are right, almost all crypto influencers on Youtube are doing it for the money and their bags.

[Cantsay]

Right from the onset I have never listened to what those influencers are saying concerning a project, whether the project will do well in the market or not. The same way I don't use YouTube anymore to search for information about a project because nowadays YouTube is now been flooded with videos from a bounty campaign and once something becomes paid you never get to see the truth behind such a thing and not only that most of them don't really know anything about the project all they do is what those paying them have asked them to do. And at the end they(shillers) earn, the project owners earn and then leave investors to suffer.

[Vyeon11]

Influencers are really looking for profits using the YouTube channel they created, so don't trust influencers on YouTube or other platforms too much.
just make it a lesson, it's a valuable experience and lesson for you, so you don't sink again in things like that.

[pooya87]

It is worth knowing that a lot of those "influencers" do not even own the shitcoins they advertise! It is simply an advertisement for them that they get paid to do by the scammers behind the coin/token. That means the influencer himself is not even at risk when the shitcoin dumps!

[cryptoaddictchie]

Thats the thing about influencers. They got paid by free tokens and those that they posted are used to market and shill the project. Of course they all wanna do is pump it to sell their free money on a higher price. Weve seen these being done during bull market. Thats why plenty of them got apprehended (I mean those big names) but some havent so since they are just small names. Lucky guys but being an exit liquidity is worst so dbe wary of them.

[KiaKia]

It takes a loyal influencers to announce at the beginning of his Youtube video that he or she is been paid to talk about this particular crypto project before proceeding, I've only seen very few do this and most are into pump and dump strategy, they bought at very low price and start talking about the tokens on Youtube so streamers can develop an interest too. I've made money this way I won't lie but later I found out about this strategy, since then I lose interest.

[zasad@]

The main income of crypto-influencers is advertising revenue. They trade and invest no more than a sum of money. When crypto influencers shout “to the moon” on all channels, this is a good guideline for selling my coins.In the market, most people lose money, and if a million users follow the advice of their favorite YouTube analyst, they are unlikely to make money.