Simple advice, don't get carried away by people success stories.

[Su-asa]

+4
You have said well.
Like I have seen some stories and I have also been involved it them, like a man was telling me about an investment where he is make large amount of money monthly, and I didn't care to make a research about the investment because I was so busy with other jobs activities,, so when I invested, I deposited $2k and just time for me to get my profits, will I say company or site? They cracked and I was to mad about it because that was the last money I have that period, but thank God I have joined the crypto world, as everybody is investing me too I have to invest without waisting any longer.

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[lovesmayfamilis]

And your OP’s post again brings out the story about the need to carefully check all those success stories that are created on the Internet today. Some people write, imagining things, for fun, while others create a stir by including colorful “evidence” of their success. Such stories often come across people in need of help, under great stress, in a difficult life situation, or maybe these people have great greed. Fraudsters create a rush; as a rule, if you don’t have time now, you’ll miss your opportunity. People don’t know how to check such projects, but the “crowd or majority” effect puts pressure on them, making them unable to understand that they are being deceived. I would view any project that promises amazing returns with great skepticism. As experienced people say, "if something confuses you in a promise, then you are right and are not mistaken in your intuition."

[Questat]

Some people make an imagined story just to attract investors and fool them. It is a way of business doing now and we only just find out that was fake after falling into their hands. At this time, we should take extra caution and know whom to trust because it is hard to determine who is/are telling the truth while the majority of these social media influencers are telling lies. In the next couple of years, scammers will multiply more and the only person we can trust is ourselves.

As OP stated was clear that we should be vigilant and not fall into such promising and attractive stories because successful people never show up in public but keep as anonymous as possible.

[Jegileman]

It is good and okay to listen to other people’s success story or learn from their path to greatness in order to guide you during yours. Having a total believe that you will have the same success or failure story as the person you’re looking up to is very very wrong. Everyone have their own life written for them already. If you follow my path to success you might fail, or succeed or even get a better success than me. It is all about learning and having knowledge from other people’s mistakes, but you shouldn’t trail or expect yours to be the same. When yours come, you should be able to fashion it into a way that will suit you and make a good prospect from it.

[Kelward]

The experience of the person doing the advertisement or hype doesn't have to be exaggerated. If someone you know tells you about a huge profit they made trading crypto, it can all be true. But that doesn't mean you will be able to replicate it. It's possible that it was luck and a one-time thing.

The biggest mistake that beginners make is that they want to be traders but without having any knowledge about what they are doing except a few YouTube videos they watched and some very basic and limited understanding of the market. It's very dangerous to play with your money like that, and the chances are greater that you will fail than that you will succeed.

Basing your decisions solely on hype and feelings is a disaster waiting to happen. When it works out, it's pure luck and not skill on your part. Your luck could run out the next time you attempt it.

Doing deep research on the project, founders, team members, partners is time consuming, but the only way to mitigate risk for those who want to play around with alts.
Better yet, don't do it at all, and increase your bitcoin bags as much as you can.   

Beginners are carried away by the success stories of friends and influencers who may have gotten lucky with a project, the excitement of the pump of their invested coin, will make them to turn overnight experts in dishing out cryptocurrency advice, newbies will then buy into these sincere hype and also invest heavily without knowing the credibility of the altcoin, the next thing is price will dump so hard that they'd lose their investment capital. This is why people that don't carry out proper research before buying a hyped project ends up calling cryptocurrency investment or trading a scam, because of their ugly experience, they'd blame everyone but themselves for their ignorance.

So it's important for anyone that wants to engage in crypto trading to get a proper knowledge of how it's done, learn the analysis necessary for a beginners, and for investment they need to carry out proper research on the project, founders and team members as you said, so they can atleast get a head start to understanding if it's a scam project. I agree that the safest cryptocurrency that you don't need to carry out any research before buying is Bitcoin, then top altcoins like Ethereum.
 

[knowngunman]

A friend of mine actually fell victim to this type of hyped success stories as he explained to me the reason he ever got involved was because of the thrills he got from a discussion he indulge himself on. Without making proper research he bought some certain altcoin due to the over excitement that was actually spread by the person telling him on how he made huge profits from the coin overnight and him being a novice actually got involved and had the worse experience from the action he took, losing almost all the capital used for the investment as the coins dumped so fast as the way it pumped high too.

Although learning from other people success story is entirely bad but one has to be careful when trying to follow the path that led to other people's success. Of course, you can get a sense of strategies and the approach that worked for them but you should also realize that each individual has his experience differently and what work for someone else might not work for others.

Relate this with one of the popular old adage that says, one man food is another man's poison. That it work for others doesn't mean it is guaranteed to work for you as well. Learning from other's success should just be an inspiration and motivation for you to not give up on your own dreams and the challenges you are facing but not necessarily means to do what they did as it may not likely be fruitful to you. Each of us is running a different race.

This is an eye opener to all who invest blindly from what they heard from others about something without having to do their own research. Always do your own research has been a discussion for several years now and it's not only peculiar to crypto but to every aspect of life.

[Taskford]

Some people make an imagined story just to attract investors and fool them. It is a way of business doing now and we only just find out that was fake after falling into their hands. At this time, we should take extra caution and know whom to trust because it is hard to determine who is/are telling the truth while the majority of these social media influencers are telling lies. In the next couple of years, scammers will multiply more and the only person we can trust is ourselves.

As OP stated was clear that we should be vigilant and not fall into such promising and attractive stories because successful people never show up in public but keep as anonymous as possible.

That's how they attract people since majority always want to hear success stories since they always dream to came into this situation that's why they follow those people what they think successful in their craft. But they forget to analyze if the story is true or even validate if the method discuss is really working for them since not everyone can share the same success even if they follow the foot tracks of those real successful people since they can't replicate the level of patience and long time efforts exerted since most of the time those copy cats always like to see a success for short period of time that's why most of those people fail.

That's why we should really vigilant on all stories or information we read online so that we can avoid any misleading thoughts and create some real stories base on our experience since from that we can learn then maybe this is how we became successful especially if there's consistency towards everything we do on our investments.

[BitcoinPanther]

When we are talking about people who are involved in network marketing or affiliate system that markets cryptocurrencies or other products, we should better investigate or do our own research before believing them.  We must verify the information they are spreading since I have a personal experience on how these people exaggerate their claims.  They have their scheme that will make look what they are saying as valid but in fact they had not done and get the success in such way.

Many success story are staged or scripted.  This reminds me of someone bragging about his income being able to buy a car in just a short period of time but when we dig deeper, it was given by the company.  So yeah, better be always vigilant on everything.  Don't act or decide without doing any research.

[icalical]

This thing is not exclusive to crypto industry, in other industry like fashion, real-estate, and even beauty also has this phenomena, influencer flashing their richness and success story. Most of them do that to be treated like a Guru and gain more followers thus they can get brand endorsement deal, some also directly selling their own classes. They promise a certain and quick success, but what they do not tell is that most of their succeed are achieved because they got many privileges that an average individual doesn't have.

[Mr.suevie]

And your OP’s post again brings out the story about the need to carefully check all those success stories that are created on the Internet today. Some people write, imagining things, for fun, while others create a stir by including colorful “evidence” of their success. Such stories often come across people in need of help, under great stress, in a difficult life situation, or maybe these people have great greed. Fraudsters create a rush; as a rule, if you don’t have time now, you’ll miss your opportunity. People don’t know how to check such projects, but the “crowd or majority” effect puts pressure on them, making them unable to understand that they are being deceived. I would view any project that promises amazing returns with great skepticism. As experienced people say, "if something confuses you in a promise, then you are right and are not mistaken in your intuition."

Thats very correct but the thing is that not everyone feel the urge to be skeptical about such projects or promises as I have come across so many humans who just love being lazy and are always ready to accept the lies that will give chills thinking it's a life changing opportunity despite the fact that they know it's all too good to be true. Even the fraudster they know that the world is filled with so many type of humans and they will definitely be a fool in the 7-8 billion person out there so the best you can do for yourself is not to be that supposed fool that would be chanting the songs of regrets after he or she realizes himself or herself.

[Charmekkd]

Most influencers who like to advertise cryptocurrencies cannot be trusted. But maybe not all influencers who like to advertise cryptocurrency are like that. For this reason, don't focus on advertisements or other people's achievements. Because it could be that all these achievements are just lies, or that these achievements were really achieved by these influencers. In fact, it is not easy for us to imitate it. So basically we have to think more about reality rather than fantasizing too far. And the most important thing is to keep working hard and never give up.

[Hypnosis00]

Most influencers who like to advertise cryptocurrencies cannot be trusted. But maybe not all influencers who like to advertise cryptocurrency are like that. For this reason, don't focus on advertisements or other people's achievements. Because it could be that all these achievements are just lies, or that these achievements were really achieved by these influencers. In fact, it is not easy for us to imitate it. So basically we have to think more about reality rather than fantasizing too far. And the most important thing is to keep working hard and never give up.

That's a game of life now and greedy individuals easily hooked up with those encouraging and motivating stories but behind those success stories, lies are what we see.
 - many people show others wealth and claim is theirs
 - many people take a picture of other people's cars and say the fruit of their sacrifice and hard work

Scams are everywhere and they will take every possible way to gain attention and get victims. Influencers are great at such techniques which is why they are called influencers but sometimes we have to choose which one we follow and which one we ignore.

[Fuso.hp]

It was a bad decision for your friend because your friend invested in Altcoins in the market only on impulse without understanding the market and coins. Investing in crypto platform is already risky then if investment is done in ALT coins in the market then it is more risky.  What we usually give most importance in investing is which platform will keep our money safe and which platform will get good amount of profit from keeping money safe. Bitcoin may be the best choice to keep your money safe and profit but your friend may not have tried to know much about coins before investing which is why your friend invested in ALT coins. Investment time never runs out so there is no rush before we know and then decide.

[adultcrypto]

There are so many factors that can influence people actions and we all should be careful on how to react when we hear people talk about success stories that are wildly exaggerated.

In the third world country today and I would like to believe not only there, they seem to be so much wave all about the cryptocurrency market or industry whatever suit the explanation, but the thing is that many people actually get intrigued by the success stories of some maybe influencers or people that aren't actually expert on the field but maybe experience one or two lucky session especially when we look at it from the trading aspect.

This is actually one of the negative effect of social media which is readily used to promulgate "fake life" that force a lot of people into criminality just to appear rich or look like their peers. Sometimes I wonder if there are actually poor people in the world because everyone appears perfectly ok on social media. The social media is filled with so many successful crypto investors who would have made so much money from investing mostly in altcoins to gave unimaginable profits. If one is not careful, there is high chance of being deceived by these self-made social medial millionaires.

Scammers also use this pattern as well, they will present a lifestyle that will almost be impossible to resist and unsuspecting people will be deceived. Just like you said, one should not get carried away by easy life on social media. Nothing beats hard work legitimate income.
 

[mamesso]

The biggest mistake that Newbies make is considering crypto as a get rich quick scheme, the experience of other people who have made big profits from crypto trading often indoctrinates their brains to immediately trade in the hope of making big profits. The experiences they share may be true and can be accounted for, the crypto market movements which continue to fluctuate there is no guarantee that you can make profits easily.

Newbies must be aware, there is no scheme to make money easily, most of the success stories shared always attract their interest to start trading immediately. Success in trading crypto assets always begins with a story that is not easy, they have to learn to increase their knowledge, perhaps they have lost large amounts of money due to incorrect research. Only Bitcoin is most suitable for Newbies, they can increase their investment amount while increasing their knowledge of crypto.

[Sanitough]

You don't know actually if what you hear is just a made up story so you will be attracted and can easily be deceived. You might end up falling on the hands of scammers if you let your emotions get carried away by their stories of success. My simple advice is, always assess every story you hear before you come to believe. Of course, some would be valid stories while majority are not. So be careful not to easily believe and fall on their traps. Otherwise, you might be the reason why they end up writing their own success story.

Learn from the experiences of the victims. That way, you will be mature enough which story to believe and which one you should learn to avoid.

[Distinctin]

Just don't trust anyone most especially in social media where they come to share their stories of success. You don't know what's their real intention but one thing is certain, they want to take advantage on your ignorance. When they see you get carried away from hearing inspiring stories that talk about success and profits, they will really create some of it especially for you. Be wary and be cautious not to fall on their tricks. Otherwise, you will end up as their new victim.

While success stories could sometimes motivate us to strive even more, but here in crypto market, scammers use it as an advantage to lure people and fall on their traps. The best strategy is, never dare to trust other people most especially those who seem too good to be true.

[Fiatless]

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

Any Investment that promises huge returns should be treated with caution. We have to verify if they are scam projects because many of such projects are ponzi and get-rich-quick projects. I am also careful when I see a project that is over-hyped by celebrities and sophisticated and expensive advertising. I will keep saying that the safest crypto is Bitcoin, apart from this coin, it will be difficult to distinguish them from scam projects. Do your research to verify the genuineness of a project before investing. This is because most of the stories that you see on social and other media outlets are designed to attract people into scam projects

[peter0425]

Just use those success into something influential but not to the extent that you will completely copy what they are doing because that is against the rule mate instead just do your things with safe action.
if you are in need of success then you must find your self the way and not the way of others because many of them are just luring you into something impossible .

[rodskee]

Most of the victims are those greedy human that wanted only to be a easy winner,
they thought doing what other does and will make them instant millionaire .

I think we can look at their success as example to pursue to what we are seeking
but never expect that we will be having what they wanted because for sure you will fall wrongly .