Crypto YouTubers are all financial advisors

[Sanitough]

The thing is, as a crypto investor do not take any individual as a financial advisor, or an expert in crypto trading/investing; if you take investment advise from people you are basically investing in what they have invested in, because they would try to pitch the coins in their portfolio to you, so as to pump the project/coin.

Having said that, the only way to go about investing/trading in crypto is to DYOR and be responsible for whatever would be the result of your investment decision.

The fact is even veterans in the crypto market sometimes fail in their investments, so how much more about for YouTubers as their focus is not merely on crypto market but also in social media. That is why no one should act as a financial adviser, and no one should rely from. If you are a noob in the crypto market, then always DYOR because that’s the only way you will educate yourself and you can avoid falling from those who claim to be crypto YouTubers. And once you start investing, always anticipate losses because that’s also part of the learning process in crypto investing.

[Rruchi man]

If someone is not a financial advisor and still go live on Youtube or Twitch to talk about how they make money investing in a project or two what does that make them?

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.

A financial advice is not so bad, it is an advice as it is called, and it is not a must that you must take it. keeping your ideas to yourself without letting anyone know may not be the best decision. It can be the surest way to ensure you make a bad decision and telling everyone as well can also ensure a bad decision. It is a matter of who you tell your ideas, and if you must, you shouldn't tell it to many people to get many confusing opinions. Tell the person you feel is most qualified to give you a good response or feedback on your idea.

Crypto YouTubers always say it is not a financial advise so they will not be blamed if things go sideways. It is not a financial advice means you are following the tip at your own risk.

[Sarah Azhari]

I would have failed if I had actually believed in Crypt-currency YouTuber who claimed to be a successful crypto trader and it turn out to be a plot to get me scammed.

Yes exactly, most of them are just marketing what they sell, there is a company behind Youtuber that has paid to sell the company product. they'd be like a successful person who was invested where the reality is not different with us.

Just compare, If they succeed, they will not tell us or spread the information which might be reduced the profit.

[Darker45]

They are not professionals. They are not licensed. They didn't undergo any serious and rigid training and education to earn that badge. They are not credible. They probably don't have any skill in terms of financial planning. They are not financial advisors; they are simply promoters and marketers and shills.

In a way, we're no different from them. They're on YouTube, we are here. They are giving financial advice; we do, too. We advice people to buy Bitcoin, buy the dip, stack Sats, hodl, avoid altcoins, and so on and so forth. They're all financial advice. Why do we do that? Well, at the back of our minds, it's probably because we have Bitcoin and we want them to buy so that the price will rise and we'll enjoy our profit.

[pooya87]

Everyone on Youtube is trying to make money one way or another. They always create content that they think people would like to watch and what better than something that tells people how to make money investing in shitcoins! The worst part is when they are getting paid to advertise a scam coin that they don't even own themselves since they know it is garbage.

[LogitechMouse]

If someone is not a financial advisor and still go live on Youtube or Twitch to talk about how they make money investing in a project or two what does that make them?

A mere Youtuber that's all.
Can you call yourself a financial advisor already if you are just sharing things about investing money or investing a project? These Youtubers aren't financial experts at all.

Dunning-Kruger effect. If you don't know the definition of this one. Here it is:

Dunning-Kruger effect, in psychology, a cognitive bias whereby people with limited knowledge or competence in a given intellectual or social domain greatly overestimate their own knowledge or competence in that domain relative to objective criteria or to the performance of their peers or of people in general.

In short, they don't know that they are overestimating what they know about investing that they are just sharing anything on Youtube, but the reality is they only know a little about it. Don't trust these Youtubers or Financial Gurus on Youtube who aren't experts.

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.

Oh, I almost forget, it pays to be a YouTuber, you need a niche to talk about per se, and it's very easy to talk about a project even if they are going to ruin your life, the secret behind this people is you, the only ways crypto YouTuber makes money is shilling their crypto bags and waiting for new buyers, it's two ways to make money for them, YOUTUBE and CRYPTO BAG..

You've said it already.

Money is the main reason why they are doing it. There are some Youtubers who are sharing their information because they want to earn more money aside from the investment that they have. With regards to what you said that crypto Youtubers only earn money from shilling, they will also earn from ad-revenues from Youtube. How? They will create a clickbait-y title, a clickbait-y thumbnail for the viewers to click their video and that's where they earn from ad-revenues. They will also earn from shilling of course because there are still some investors who will follow what their favorite Crypto Youtube influencers are saying. As for me, f*ck them all. I'm not following what they are saying or what they are recommending.

[tech30338]

If someone is not a financial advisor and still go live on Youtube or Twitch to talk about how they make money investing in a project or two what does that make them?

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.

Oh, I almost forget, it pays to be a YouTuber, you need a niche to talk about per se, and it's very easy to talk about a project even if they are going to ruin your life, the secret behind this people is you, the only ways crypto YouTuber makes money is shilling their crypto bags and waiting for new buyers, it's two ways to make money for them, YOUTUBE and CRYPTO BAG..

This are some of the reason why they are flexing those income:
They are after the views, and subscription, here is the thing, if you go live today, only few or none will view you, why? because there is nothing for you to flex, unlike this youtubers they have cars, and expensive gadgets to show, with that their following grew, and they can indorse something out of nowhere and many will get or buy those things , OP is correct, for example in crypto before they go live and show you a coin, they already bought massive part of the token, once their followers bought after him, he will dump those, coin and all his followers will be left behind, and he will just make up stories, etc., that's the reality, a bit of advice for newbies, don't just listen to those people have your own decision and findings before jumping to a coin.

[Russlenat]

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.
...
Oh, I almost forget, it pays to be a YouTuber, you need a niche to talk about per se,

You have the question and the answer.
YouTubers and "influencers" are paid to shill projects to their audience and hope they buy into it. And you don't assume someone to be a financial advisor cause they made a couple of videos talking about the potential outcome of an investment. On this forum price speculation is talked about a lot, and we discuss what the future of Bitcoin is going to be, that doesn't make the users here advisors, does it?

You can't expect people to stop doing what they profit from, you can only advice investors to do their own research.

And you can’t stop the noobs from following their favorite crypto YouTubers. But as long as they also do the research, that will safeguard them to avoid the dont’s in crypto investing. Btw, YouTubers are paid to shill or hype the project they are about to promote, so we can’t blame them also if they also do their part as that what makes them become profitable. Just like us, we always prefer to do what we think will give us good returns in the end.

[NotATether]

If someone is not a financial advisor and still go live on Youtube or Twitch to talk about how they make money investing in a project or two what does that make them?

Fools, I guess?

On one hand, bragging about how much money you made online is such a stupid idea, especially when people can see your face and figure out where you live. On the other hand, you could also be held legally accountable for your promotions in some jurisdictions; in the US for example, the SEC will fine you if you promote any security without a disclosure that you're affiliated with the project (and let's be honest, whose going to admit that info anyway?)

[AverageGlabella]

Youtubers know how to talk because they have trained themselves to be expert talkers in front of a camera but they are not financial advisors and if you take their advise which is usually sponsored or has some incentive behind it for them then you are going to lose money every time. I do not know of any Youtuber that has good advice when investing in btc or cryptocurrencies and I have seen attempts from them to manipulate the altcoin market so that they can profit. DO NOT TRUST THEM.

[Coyster]

Crypto YouTubers always say it is not a financial advise so they will not be blamed if things go sideways. It is not a financial advice means you are following the tip at your own risk.

That is what they say so as not to get into any trouble if the crypto they are shilling crashes so bad. Following anyone's advice is always at your own risk, but it doesn't exempt the person who popularized the idea from blame, especially when the person is a celebrity who knows that many of their followers listen to what they say. I know we enjoin people to: "DYOR", but i understand some of them do not know how to accurately do that, so they fall into the hands of some of these influencers who pitch scam/bad projects to them which doesn't end well. Thus even if investing is at your own risk, i think influencers should also be held responsible for promoting scams.

[Yogee]

....
I know we enjoin people to: "DYOR", but i understand some of them do not know how to accurately do that, so they fall into the hands of some of these influencers who pitch scam/bad projects to them which doesn't end well. Thus even if investing is at your own risk, i think influencers should also be held responsible for promoting scams.

I don't know the laws in your country but I bet there are already rules that covers promoting some investment schemes and that should apply to cryptocurrencies as well. Each country should be clear that promoting a project without due diligence is also subject to punishment. Merely saying the popular "DYOR" and "Invest at your own risk" disclaimer shouldn't excuse them from legal action.

[aysg76]

Calling them financial advisors is the first mistake we make and follow what the crap they are talking about as these so called crypto influencers are just paid shillers who are just promoting some scam projects or others with clickbait thumbnail just want to increase their subs count and earn from views and all that shitcoin and centralised platform ads in the video.

But if we are believing in what they have to say then we don't know anything about the crypto market so we should stay away from them but are this the so called financial advisors on YouTube?



I don't know how in the hell they gain users attention with such faces also as if they have found hidden gems worth millions and if you open up the video they have nothing knowledgeable and till last they will say shitty things and all about promotional stuff so this is not what we expect from them.

[isaac_clarke22]

~

Ah yes, the cringe thumbnails in Youtube like no one has heard of them since 2009. I highly doubt that they gain users purely from the usual sharing of their videos to people, the usual networking stuff, but they probably had used bot. I can recall a lot of Youtubers having a spam bot problems just to gain interaction within their videos and I am pretty sure Youtube hasn't resolved it yet since even gaming channels are experiencing those.

There could even be those bought channels that already had a great sub count so that it could give them a headstart. A little bit of off-topic but I can recall some scammers pretending to be Binance channel and they just play an archived livestream before in order to look legitimate. Turns out it was a bought channel as well.

[AakZaki]

A crypto youtuber's goal is to become as many subscribers as possible, so by becoming a crypto financial advisor they will be seen and liked a lot. They just become impromptu financial advisors and say that investing in such and such a coin will bring great returns. They also embed referral links in order to get a lot of income from the affiliates they use. it's common practice. Choosing a financial advisor from among YouTubers is not recommended. They only live from advertising, live by being paid as an influencer and don't care about you as their target.

[BlackHatCoiner]

As far as I call tell from the replies, people hate "crypto advisors", and that's good. I do too. They're idiots, no-lifers, and reproduce the same shitty script again and again; they're like astrologists, but for money. But, who's their audience? They are the ones who're worthy of embarrassment. I've experienced friends of mine who actually bite their nonsense and lost thousands in shitcoins. I think our personal responsibility to not get convinced easily by strangers on the Internet is greater than their idiocy.

[Kasabus]

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.
...
Oh, I almost forget, it pays to be a YouTuber, you need a niche to talk about per se,

You have the question and the answer.
YouTubers and "influencers" are paid to shill projects to their audience and hope they buy into it. And you don't assume someone to be a financial advisor cause they made a couple of videos talking about the potential outcome of an investment. On this forum price speculation is talked about a lot, and we discuss what the future of Bitcoin is going to be, that doesn't make the users here advisors, does it?

You can't expect people to stop doing what they profit from, you can only advice investors to do their own research.

YouTubers and crypto influencers are getting an income out from hyping those projects that are also paying them so expect that they will do everything so that the audience will be more convinced and finally buy in their project. The moment those new investors will start investing in the project, regardless if the project has huge potentials or not, that means a success to the project owner, and of course to the promoters themselves. So even if being financial advisor is not really an appropriate thing to do, but I think YouTubers have no choice actually but to make believe the audience and think that those projects are really something profitable to invest.

[DrChaos.eth]

Hi,
100% Agree. Saying you're not giving financial advice and then give financial advice,  is like yelling in the street: I am not killing people guys, I don't have a killer licence and then start shooting everyone.

[coupable]

If someone is not a financial advisor and still go live on Youtube or Twitch to talk about how they make money investing in a project or two what does that make them?

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor? Yeah, I think the perfect way to stay away from been a financial advisor is to keep your ideas to yourself, don't say a word about it.

Oh, I almost forget, it pays to be a YouTuber, you need a niche to talk about per se, and it's very easy to talk about a project even if they are going to ruin your life, the secret behind this people is you, the only ways crypto YouTuber makes money is shilling their crypto bags and waiting for new buyers, it's two ways to make money for them, YOUTUBE and CRYPTO BAG..

Unfortunately, these professional advisors are not only found on YouTube. Most of them sell advisory advice on private channels on Telegram, where you buy a subscription for a certain period to enter the group for a specific period of time in which you enjoy stupid analyzes and stupid advice even if you are ready to lose your investment. Unfortunately, the victims are themselves perpetrators, believing that someone might be able to read variables and anticipate results. It's like going to a fortune teller or an astrologer.

[stompix]

I don't know how in the hell they gain users attention with such faces

People that are curious who the idiot is or doctors that realize the guy suffers from some rare disease and watch his video to see if they should notify him to get a medical check-up. Also thumbs down for the second guy in the picture, that face is so cringy I need to have the memory of every seeing erased asap.

As far as I call tell from the replies, people hate "crypto advisors", and that's good. I do too. They're idiots, no-lifers, and reproduce the same shitty script again and again; they're like astrologists, but for money. But, who's their audience? They are the ones who're worthy of embarrassment.

Before the pandemic, we actually had a Flat Earth "conference" in the capital and some 75-100 guys paid 20 euros to attend!
Millions buy books on how to win the lottery, there are 1 billion users on youtube and definitely, some are not the brightest but greedy and it's easy to fall captive to a get rich quick strategy, not to mention the one that lost on the previous advice and now on a copium run are eager to reverse the trend since the guy must be right at least once, right?

And speaking of that, bitcoiners who post only meme coins on Lambos and how they will own castles 10 years from now while plebs work in the sewer are not helping the situation either.