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

[Jaycoinz]

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.

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.

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.

All other advice too are welcome from senior here to help guide those enthusiastic newbie that are willing to do anything to earn profits or be as successful as the story they hear.

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[Cantsay]

I know you are not referring to celebrities who shill for projects but instead newbies that might have been lucky enough to have made huge profit from investing in an altcoin and because of that they have made themselves a self-proclaimed financial advisor.

There was a celebrity case but I can’t recall the name of the celebrity that was asked to pay some certain amount due to the fact that an altcoin she posted on her social media page turned out to be a scammed and that just proof some of the people we actually go to their page to read their post and digest the information they always share know nothing about what they are doing, as long as they will get paid for it they are willing to do it.

Have you ever sat down and wondered “this person that posted about his success story about his involvement in a project, did he encounter any problem? If he didn’t why hasn’t anyone else posted about being successful when they also decide to involve themselves in it?” Sometimes simple questions like this can save us from a lot of trouble.

[kentrolla]

I know you are not referring to celebrities who shill for projects but instead newbies that might have been lucky enough to have made huge profit from investing in an altcoin and because of that they have made themselves a self-proclaimed financial advisor.

There was a celebrity case but I can’t recall the name of the celebrity that was asked to pay some certain amount due to the fact that an altcoin she posted on her social media page turned out to be a scammed and that just proof some of the people we actually go to their page to read their post and digest the information they always share know nothing about what they are doing, as long as they will get paid for it they are willing to do it.

There many who endorsed which made people buy their NFTs and Cristina Ronaldo and Logan  Paul are two classic examples of this and we also have Justin Bieber, Madonna & Paris Hilton as well who were sued but we have not seen any of them paying back to their investors.

Have you ever sat down and wondered “this person that posted about his success story about his involvement in a project, did he encounter any problem? If he didn’t why hasn’t anyone else posted about being successful when they also decide to involve themselves in it?” Sometimes simple questions like this can save us from a lot of trouble.

This question will save us from falling for the trap, but no body bothers to question that as they are blind in their greed of earning real quick wherein they don't think logically and blindly trust these so called influencer or self proclaimed crypto millionaire.

[Dunamisx]

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.

We can take the celebrities as an example in this case, many of us are seing them in proxy and wish to be like them, which I don't see anything bad in having their kind of acheivements and success, but these same people couldn't be the same we can accept to go by their kind of lifestyle in real life, we may not like so many things we may later discover about them the more we are getting closer to them, we should rather pick up the good and leave the rest with them.

[Pmalek]

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.   

[$crypto$]

Beginners are often attracted by the chatter of other people who are successful only because of luck but it is exaggerated when they tell their friends, this is indeed a lot of people do that in addition to new beginners they are ready to buy altcoins that their friends bought first because of carelessness without further research they suffered losses because the altcoin continued to fall and the beginner was ultimately disappointed not to share the same fate.

Many influencers on youtube or tiktok often talk or share an advantage in the altcoin he bought, indirectly showing off to others while beginners are only hooked because of the usual big profits, beginners without thinking about it immediately buy without doing any analysis to reduce risk.

Advice to them not to trust other people's success too much, maybe they just want to look cool and be praised by many people but with their actions they trap many people.

Better choose bitcoin even though it takes a long time to make a profit.

[Churchillvv]

The problem most people face especially newbies/beginners in the crypto spaces is wanting to go to level 100 without taking the level 1, thereby making themselves loss what they don't have already.
How can someone hear that I made $500k in a day while trading after my 1000x attempt that failed and I lost, without knowing where I started from, how many times I failed before or how much I have lost before, they just want to make a $500k as I did too forcing themselves to go into what they don't know.

There is no way someone will come online especially on social media to screen how he or she has been losing especially when they have a brand to protect, they will only give you the tip of an ice burg and is left for the person who is hearing to digest what they heard before making any decisions but in most case Beginners just rush into the business that profited someone and wish to profit in just a twinkle of an eye.

[cryptoaddictchie]

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.

You mean the one posted here just in case they rank up? Well if thats a success for them then we can be inspired by that provided that the user post is really grind his achievement and not a merit grabs thread. Also there are other who gained so much profits in trading, airdrops or whatnot that too can be celebrated except for those who are posting but those are just grab images and made up stories.

[Husires]

Emotional investment based on the fact that your friend has achieved success and that you can achieve this success is the quick way to lose your investments. In investing, if you do not understand what you are investing in, it is better not to invest and avoid that investment. Sometimes it is better not to sell until you achieve profit, otherwise it is better to wait  even if it leads to your loss.

[Nerdy doctor]

People are easily influenced when the one doing the promoting is famous and well known. They’re going to be interested when they see their no.1 celebrity promoting a project.
Most times, these success stories can be formulated and even exaggerated by scammers looking to attract people to part with a little bit of money and have a success story of your own. And sadly, people fall into the trap in chasing their own big win and success story.
It all falls down to doing some serious research whenever you’re wanting to part with money for a new project or investment.

[Mr.suevie]

People are easily influenced when the one doing the promoting is famous and well known. They’re going to be interested when they see their no.1 celebrity promoting a project.
Most times, these success stories can be formulated and even exaggerated by scammers looking to attract people to part with a little bit of money and have a success story of your own. And sadly, people fall into the trap in chasing their own big win and success story.
It all falls down to doing some serious research whenever you’re wanting to part with money for a new project or investment.

Exactly mate, many naive minds actually follow such trend, just because someone popular says he made lot of cash through what he is doing doesn't mean you should just go and jump into that thing because the whole can be formulated and at end you will be the one at the losing end. Taking caution in everything you do can really help you out especially if you are not familiar with the stuff people are doing. Most times we easily get influenced by our own emotions and forget what we are doing until the harm has already been inflicted on us, so we should try and stay on course before getting involved into anything, I mean you can do your own little research.

[Vaculin]

You don't know actually if that certain person is telling the truth or just making lies to deceive you. A lot of crypto influencers these days who pretend that they are trading successfully and are making significant profits, but in reality they are never reliable traders but experience a lot of losses than gains. Except for those who are really genuine on their words, but still we cannot guarantee that those who work for them might also work for us. It could even push us to be homeless in the end if we keep forcing ourselves to follow what they're saying.

You can't trust anyone in the crypto market, be it investing or trading. That is the reason why you have to equipped yourself with knowledge, skills and strategies so that you can prepare for all the risks and beat them all by yourself without falling from the traps of other people's words.

[nakamura12]

Not all success stories are bad because some of it are what makes other people want to achieve success too and that will result in doing more effort and inspiration although some of the stories are not true or only a fictional one just for the sake of meeting the quota. One of the stories that will bring motivation and inspiration are like ranking up since it already explains that it is possible to do it in short, you can contribute in the forum too just like the one who is sharing the news or stories

[Viscore]

With people's innocence, majority get carried away with other people's successful stories and think that they can also be successful and profitable like them because that's what these successful people are trying to imply on them. Without realizing that we all have different experiences investing or trading in crypto, and we gained different outcomes because what other people are inclined to might be a weakness for others. So don't fall on their words, but focus on your own capabilities to do things as we can't trust anyone except by our own self.

However, I believe that we are all destined to succeed but in different timeframe, and we can't just assume that if other people have succeeded already, then we will also be successful. It takes knowledge and good experience for someone to be successful in crypto.

[PrivacyG]

How do some people think these success stories are 100 percent reproducible?  They always blindly trust what some random guy who succeeded did and it obviously pretty much never works.

I would follow motivational accounts for the most part.  Successful people too, but learn from their mistakes and understand their moves.  Do not just copy what they publicly say they are doing.  It could always be a plug.  Or a honey pot.  Or just sponsorship or whatever else.  Get motivated and do better.  Stop following the successful like a horde, they are almost always using their influence against you.  Not FOR you.

[Hyphen(-)]

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.

All other advice too are welcome from senior here to help guide those enthusiastic newbie that are willing to do anything to earn profits or be as successful as the story they hear.

All newbies that are coming with this idea of making it very quick because others made it are always victims of losing money due to either greed or ignorance.

The solution to all this is just to stop believing everything you hear because people are making stories just to attract new people which can be their source of income in form of advert, or they actually made it luckily through that process which is not more working; therefore, as a newbie, always do some research about any coin you are willing to invest in before putting your money in it.

FOMO is one effect again which has affected so many people, but all these can come to an end if there is roper understanding about cryptocurrency and how it works.

[Stepstowealth]

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.

I have learnt to stop believing completely in all the stories from people, especially when it is a personal story told, because often times the details are exaggerated to gather more praise and admiration. If you get carried away by the story of other people you would be making a big mistake because you will be distracted from chasing your own success and maybe start rethinking that in cases where you are not motivated by the lies in their story, you will feel like you are not doing enough.

[Marvelman]

I get it.  You see people online bragging about the fat stacks they made in crypto, and you want a piece of that pie.  But more often than not, those folks just got lucky on a one-off trade.  Don't think you can just jump in the market with some YouTube tutorials under your belt and expect to crush it.  I've seen too many newbies lose their shits because they didnt respect the game.  Their ego makes them overconfident, so they skip the education part and blow up their accounts.  If that sounds familiar, maybe start with paper trading for a few months.  An see how it goes.

[Finestream]

Make your own story instead from your own diligent study and research. That way, you won't fall on others and easily believe on their made up stories. It's clear that their motives is not to help you to be in profits but it's the opposite way around. You are helping them to stay in profits if you chose to believe whatever they say. So get rid of them and do not fall on their fancy made up stories.

Newbies are the most likely the victims here. If you have the eagerness to make quick profits because of your greed, then you are certainly one of their targets.

[hatshepsut93]

It sounds like a made-up story to attract suckers into giving money to scammers, but even if the story is legit and it's all not a scam, you shouldn't immediately rush to invest and instead ask yourself is this success can be replicated and what conditions led to this success.

A lot of people invest in crypto because they hear about a person who made a lot of money with it, but they fail to learn anything valuable about crypto and instead lose their investments to scams and market crashes.