Investing base on hype and social influence.

[Futurexxx]

. Can this nonsense stop?

It's never going to stop dear, because we have more ignorant investors among us than informed ones. If you look at most of these meme coin that some investors loss their money on, it was all about social media hype, and it was made very easy to decieve these fellas when it is speculated in the news that a celebrity or a popular figure also invest in it, even when it's very clear that it's not worth investing in.

So something like this is not a big surprise to me because some people are just too ignorant and stupid at the same time, which is why I have always believe that you will only get what you deserve in this crypto space.

[Don Saga]

There is no better advise than an advise you give to yourself, a person who does not want to learn can never learn no matter the amount of advise you give to that person. People really underestimate the importance of personal research and findings before making an investment, not every promising business idea that the public acknowledges is a good business.

How does someone buy a virtual land that cannot be touched or seen for that outrageous amount just because Snoopdog is a popular figure? What do they stand to gain when it's not real assets in the actual sense? That amount $450,000 is enough to start up a real business that would bring good profits with little or no risk factor at all.

[coinrifft]

I guess it just shows how crypto market is, it's wild and everyone was jumping on the hype or what is the latest on every cycle. Until it will die down on the next. So that's how vicious it is and if you don't still doesn't learn your lessons, then it's your lost.

Just like the NFT's before, some famous influencer was into it like Jake Paul and not it has no value. So again, for those newbies, let this be a lesson for you and for everyone as well. Not to jump on the hype and save your money to a better investment.

[asriloni]

It's not the first time. It's already happened before with Neymar and J.Bieber who bought BAYC NFT around 1m, then their NFT only worth 10k right now. Oher than that, this non sense thing can't be stopped because it's used by grifter to make money. It's an unending cycle.

Yeah, the Neymar situation is something that I was really surprised about, people who have money will always find themselves in such a precarious situation when they get them involved in such a risky project, the ugly part is that people don’t learn probably because they have the money, and they can use their money for whatever they feel comfortable doing with their money. It’s just a bad investment and sometimes the project teams couldn’t manage the investment, which is why I personally think that we should be careful with whatever investments that we are making for the future.

They're being fooled by the buzzwords created by so many influencers in the past. So they might be bought those garbage NFT due to that reasons. Even those artist were stupid enough not aware if they became those influencers exit liquidity. The saddest part is that the NFT cycle is getting even more crazier this time with so many scammers creating scam NFT.

Honestly, NFT is such a bad place to deal with your money. Instead of getting great ROI, you will always be ended with nothing left in your hand.

This is also the reason so many NFT market is also dying at this moment. They only provide a place for scammer to seek the exit liquidity.

Investing on the hype will never worth in the end.

[Rockson1]

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

Do you expect this to stop? Have you thought of how influencers make their money, and will people stop going for investment that are over hyped by well known people, the thing is that, those chasing after some of these projects should advice themselves, I won't blame the project management because they did not force anyone to investment, it is a choice, so whatever comes from the choice we make in our investment, we should be ready to take it that's ways, and if we should go by records, how many of these over hyped projects still stand till today, man all these are just like gambling, just play with what you can afford to lose and have your peace.

[Finebone]

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

It's never going to stop because greed is real. People just want to make money quickly without putting any effort in doing their own research, and to some people, they will be aware of the risk attached to a particular project and still go ahead to invest in it because of greed, so it is a everyday reality in this crypto community.

As most user have said already, it is never a bad risk to take if it is done with what they can afford to lose, because even though the worst happens in a situation like that, they will still be fine, so I think that all investor should learn the art of investing only what they can afford to lose when taking a big gamble like this.

[MArsland]

You remember sandbox project, right? Yes you do. So let me cheer you up a little about one of the stories that revolves with that project.

This story made my mind go gaga how a person can be a loser by getting in with investment in the wrong project by following the hypes.

There are projects that your losses will have nothing to do with a bear market season effect but by project team mismanagement therefore making you the liquidity door.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

If you talk about the trend at this time, of course the project has become nonsense but at the time almost everyone jumped to invest in buying some virtual land and some NFT as access to unlock some features. I'm sure back then no one said nonsense, just like now some new and innovative projects are attracting attention but the next 3 to 5 years will be bullshit because relevance, price and popularity will be easily replaced with more revolutionary crypto projects.

[Mrbluntzy]

So this person paid $450k to become a neighbor of Snoop Dogg, I am wondering how much Snoop Dogg must have also put in the project because for someone to have the intention of being his neighbor, it means he also participated in the project and the money he might have put in it will also be big like this one.

He was likely 'gifted' his virtual estate from Sandbox, you think he partnered with projects with getting nothing in return?

Snoop Dogg might have already forgotten about this it, including this guy that risked $450k.

I doubt they get, 'invested' in these projects to begin with; they take their offer and move on.

No, I didn't think that the partnership was for free and you could be right that he was gifted but as at that time, they didn't really mentioned whether it was a gift, Sandbox just announced that Snoop will own an estate which was 144 plots. So, I know they would pay him for the partnership but what's not clear is if he paid for that VR land.

Your last statement just shifted my thoughts to something I had never considered. What if the guy they claimed invested $450k never actually invested anything, and it was all just a marketing strategy? They staged the deal, played their roles, and moved on. I think that might be what happened. You’re right.

[Son Of Blockchain (SOB)]

 I could remember when a celebrity in my locality launched a shitcoin on blockchain, people especially his fans rushed to imvest on that particular memecoin and made the celebrity lots of money and end up loosing cause it crashed after sometime, a lot of people lamented and some called him a scammer but they have themselves to blame.
 I believe many of them don't even have knowledge about cryptocurrency but invested cause it's own by their favourite celebrity, that's a very foolish thing to do, cause investing in something with better understanding or knowledge about it would definitely lead to lose.

[nelson4lov]

The same thing happened with bored app. $120,000 per bored ape was just not sustainable despite the hype since it was just a JPEG at the end of the day.

Disagreed with italic part. It's not mere JPG, it's things you actually own on your wallet address.

I said that in the context of BoredApes and not NFTs in general. When the NFT bubble bust after peaking in 2021, a lot of people finally realize that their BoredApes were arts in JPEGs that were rated more than what it should've been. A lot of them later sold for cheap and I know several that used it as their PFP but have since changed to something else. In. Some ways, the land nfts too especially if they're not tied to real, IRL lands.

[Stable090]

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

I don’t think the nonsense is going to stop, so we just have to be guided. It’s better when investing in any coin, always take your time do some research about the coin before you going to invest in the coin, don’t invest based on hype, don’t invest just because you know people that have invested in the coin before, or because the coin is being promoted my an influencer.

When you are investing in a coin, take your time to do your research first, most of our influencers care about themselves alone, they don’t even care to do research about what they are promoting, as long as they are going to be paid, they just promote them. It’s high time we stop trusting all this influencers, and we should do our own research before investing.

[Felicity_Tide]

~snip

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

Nah, I don't think we're ever going to stop hearing about news that are very similar to this one.
There are literally so many people out there who have the money to waste on random projects even if they don't end up being successful. And mind you, don't be surprised if some of these people aren't necessarily after the financial profits. Purchasing items like this might just seem really cool to them, but who are we to tell them how to spend their money ?.

As long as people remain heavily influenced by their favourite celebrities,.and are unable to make good financial decisions when they're involved_{(direct or indirectly)}, we're definitely going to keep seeing more of this.

[bangjoe]

You remember sandbox project, right? Yes you do. So let me cheer you up a little about one of the stories that revolves with that project.

This story made my mind go gaga how a person can be a loser by getting in with investment in the wrong project by following the hypes.

There are projects that your losses will have nothing to do with a bear market season effect but by project team mismanagement therefore making you the liquidity door.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

What is happening with the Metaverse, NFT and other niche markets is an attempt to open the ecosystem space wider, including in this sandbox project, is one of the efforts, actually this is not wrong it's just too many people who have high expectations when the trend starts to grow in the market, think this will be the future, as the next social life and there are still many other expectations that are too excessive, basically those who enter this market are as gamblers to see the future, this problem fails or not, it's another story, because it has to come back again to the market how the community sees adoption on that expectation.

Speaking of marketing, entrepreneurs will definitely take steps how people are interested in buying something, based on influence, therefore they use artists, actors and the like that are liked by many people as a thought opener, and legally this is legitimate, and I think this cannot be stopped because it is a marketing strategy, as long as there is no fraud behind it in a project then this will not be a problem, the point is that during the process it does not violate the law in any marketing scenario it cannot be stopped, it doesn't matter if the project will succeed or not.

[blockman]

The same with the glory and beautiful days of Axie Infinity. It's been a huge hype to my country where people have quit their jobs to play it daily. It was also been featured to a popular long time running magazine show which made more got into crypto. Everyone thought that it's going to make their lives better by being into it. I was also brought by that hype since it's the same with Decentraland & Sandbox that, axie also has its land for sale. That era was a certain wild west and we have moved on from that period. Too many memories of profits and losses and craziness it has brought.

[o48o]

You remember sandbox project, right? Yes you do. So let me cheer you up a little about one of the stories that revolves with that project.

This story made my mind go gaga how a person can be a loser by getting in with investment in the wrong project by following the hypes.

There are projects that your losses will have nothing to do with a bear market season effect but by project team mismanagement therefore making you the liquidity door.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

Why would it be because of mismanagement? NFTs were overhyped, overpriced and illiquid status symbols for greedy people. There wasn't anything to manage.

At some point fashion changes and things that were in are now out and lame. Collectable NFTs pretty much represent what was most absurd in this scene. It doesn't matter if was "art" or other virtual objects.

I am guessing that most public figures want to now distance themselves from it. And i still have hard time believing that most of celebrities were buying anything in the first place. It were most likely publicity stunts, where they were gifted those NFTs and someone made the payment from their left pocket to right pocket. It's both for laundering money and rising the value of NFTs.

[coin-investor]

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

It's always on the investor's decision on what and where to invest; the market is full of hype, shill and FOMO its such a bad decision to invest $400k and now that investment is worth $900, people still fall for the hype and social influence, instead of going on use cases and coins that have proven their worth.
People, because of their desire for quick, large profits, favour this kind of investment; they will only realise how bad their investment is after it quickly loses value.

[Rengga Jati]

So far, this has led to significant losses. Many newcomers begin their investment journey in this manner. Yet, they often have no grasp of the risks involved. Or even a clear understanding of the decisions they are making. For this reason, it is essential to arm yourself with knowledge. We may not be too quick to trust others. Especially influencers. They are sometimes paid to promote these things.

Many people suffer losses in crypto simply by falling for the FOMO regarding what is currently trending. They might invest large sums of money. Either because they are fans of a particular individual or because they place blind faith in what an influencer says. This happens all too often, and in the end, they fall for it, suffering substantial losses very quickly.

So, who is to blame? Many end up blaming "cryptocurrency" itself, labeling it a scam or inherently high-risk. In reality, the fault lies with the individuals who let FOMO drive their actions, as well as the influencers who prioritize traffic and payouts over anything else.

[WatChe]

It's always on the investor's decision on what and where to invest; the market is full of hype, shill and FOMO its such a bad decision to invest $400k and now that investment is worth $900, people still fall for the hype and social influence, instead of going on use cases and coins that have proven their worth.
People, because of their desire for quick, large profits, favour this kind of investment; they will only realise how bad their investment is after it quickly loses value.

There are many such cases where people lost their money by investing in useless coins just because they didn't performed the necessary research before investing or they got blindfolded because of greed. If you invest 400k in Bitcoin and price goes down still there is high possibility that price will go up in the long run and investor will get good return on his money. That's not the case with shitcoins because they are driven by hype and once that hype is over there is no chance of their price to go up.