Crypto YouTubers are all financial advisors

Viscore

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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..

If that’s what’s giving them a good income, even myself would also do that even if giving a financial advice might put someone into future losses. It’s not that I’m being greedy but if you are a responsible investor, you would never start investing and putting your money into that project if you never studied it in the first place. The basic rule is always know what your investing and always invest what you can afford to lose, so if you stick to that, you will never be actually at a loss in the end.

erep

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Quote from: Zilon on February 03, 2023, 03:17:18 AM

Don't forget most influencers are paid to do their job and because they are good at shilling they can cook up lies just to buy the trust of their audience. Granting this shillers audience is never bad but where the loophole occurs is when there is personal research after listening to their financial advice. The life of a crypto investor is subject to research from different sources in which personal research should be the core base of making investment decisions.

Many paid youtubers misuse the content to mislead the audience to invite them to invest in a scam project, they damage their reputation just for the sake of money and not thinking about the loss others have believed their lies, so we have to analyze the reputation of a youtuber or anyone before trusting investment advice because professional traders simply suggest investing only in bitcoins and they will not suggest investing in any altcoins..

Z390

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I am not against crypto influencers because they can either make you or break you, if you fail on your crypto expedition listening to any influencers it's your fault, you can't shill me a crypto project and you expect me to just log into an exchange and buy, I have to do my own research first and it truly the project is good then I could consider buying, the problem with crypto influencers is they are not practicing what they are preaching, most of them get paid talking about a crypto project and that doesn't mean they will invest their own money too.

I have not seen anyone of these influencers revealing their own crypto portfolio as proof that they actually invest money in the coins they are telling the world to buy, this could bring some changes and improve people's trust in them, but I guess for security reasons this will never happen.

Zilon

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Don't forget most influencers are paid to do their job and because they are good at shilling they can cook up lies just to buy the trust of their audience. Granting this shillers audience is never bad but where the loophole occurs is when there is personal research after listening to their financial advice. The life of a crypto investor is subject to research from different sources in which personal research should be the core base of making investment decisions.

Findingnemo

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Most governments doesn't have enough laws and regulations for online contents they were posting so they are free to post anything that doesn't violate the YouTube guidelines which makes them to talk about anything as they knows everything they know.

For example someone can post how to make 10k subscribers in a week but actually they didn't even have 1000 subscribers so its nothing but a content to talk and to avoid any legal issues they add disclaimer and do it on your own.

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Quote from: aysg76 on February 02, 2023, 09:43:12 AM

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.

Quote from: BlackHatCoiner on February 02, 2023, 10:00:59 AM

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.

coupable

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

DrChaos.eth

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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.

Kasabus

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Quote from: Upgrade00 on January 31, 2023, 03:51:20 PM

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

BlackHatCoiner

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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.

AakZaki

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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.

isaac_clarke22

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Quote from: aysg76 on February 02, 2023, 09:43:12 AM

~

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.

aysg76

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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.

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Quote from: Coyster on February 02, 2023, 08:15:30 AM

....
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.

Coyster

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Quote from: Rruchi man on February 01, 2023, 03:27:53 PM

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.

AverageGlabella

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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.

NotATether

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?)

Russlenat

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Quote from: Upgrade00 on January 31, 2023, 03:51:20 PM

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

tech30338

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

LogitechMouse

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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:

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

pooya87

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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.

Darker45

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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.

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Quote from: BIT-BENDER on February 01, 2023, 02:58:30 PM

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.

Rruchi man

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

Sanitough

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Quote from: Coyster on January 31, 2023, 03:40:40 PM

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.

BIT-BENDER

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Be careful with the so called Crypto-currency YouTubers or any other social media platforms influencers claiming to be YouTuber those guys gives a lot for the bag(payment) they are always influencing coins that would be in their interest.

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.

pixie85

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They are advising you because they say buy this, buy that or if I had the money I'd buy this now because it's good, not a financial advice.

That's all so stupid. It's like you were talking to a person of the same sex and saying you're so pretty, I get horny looking at you, if I had a free apartment right now I'd invite you in for the night, by the way, no homo.

They include this in their videos because some stupid laws require them to but it doesn't change the fact that they're making people buy these shitcoins or put money on scam platforms. We all know who was shilling FTX so I won't even put their names here.

isaac_clarke22

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

~

Oh tell me about it, even in Twitter. Most of the crypto users I read there are purely "eXpErt crYptO adViser" and that is why I stay away from Twitter and Youtube when it comes to crypto. The thing is that it does not work for everyone. You could only advise so much that it is pretty much a common sense in handling your own money properly.

Considering that monetization is a thing and like goose chase for many Youtubers out there, I am not surprised that there are many bad advisors in that platform.

Woodie

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?

If they don't say they are financial advisors, then they aren't... Besides FAs are professionals in their field and not self imposed! Anybody sharing their story of how they made money really isn't financial advise, but rather sharing some inspiration and motivating someone out there Roll Eyes

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

If someone said they are financial advisors and you took their word for it and in the end lost out.. You can actually such a person that's why many declare not to be one.

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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..

Many use these platforms to shill projects they have an interest in, and once price goes up they usually dump their crypto bags to jump ship and leave the customers they are onboarding with bags of shitcoins with a few success stories. Which is why we need to be smart about investments by doing our due diligence.

Renampun

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?
...

and now crypto youtuber and twitch, quite a lot of them have switched to tik tok too LOL. their goal is clearly seen to make some money from all the platforms that could potentially make them money with the videos or content they create.

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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..

many of the crypto youtubers who make shillings or recommendations on a token (NFT - memetoken) which actually have the goal of helping pump those assets, especially those that already have a lot of viewers and also subscribers, they must first buy the tokens that they will make content ( shilling) on their youtube - twitch or tik tok account, then sell that token/crypto asset when the price goes up.

PrivacyG

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I do not think it is inherently bad to create YouTube videos explaining how you turned nothing into something. Or sharing your portfolio with others. And I definitely do not consider this financial advice, as long as the person behind the video does not share ideas such as 'we are going to the moon', or 'this will never fail'.

Here is the problem though. They are doing exactly that. They are sharing financial advice and only mentioning NFA at the beginning (or end) of the video to avoid covering themselves up in lawsuits if their advice fails miserably. And most of the time, unfortunately, it really fails.

I sometimes watch such videos. Interesting to see how others view the market. But I never take it as advice. Just as an opinion. I make my own opinion and choose things all by my own.

-
Regards,
PrivacyG

darbitmobilerecovery

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I only can say one thing, and this its.....

If you make so much money from your management of the money or your big brain in finance..... why do you need to make a YT channel or sell your course?

Yes because you are a liar and you dont make any big money from there, and your big money comes from another tube, b ut you hide it and show like it comes from your good financial management.... pure shit.

No man in the world or maybe a few can be so altruistic to share with all the people in the world the holy grial to be rich... if they have that.

stompix

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Quote from: DdmrDdmr on February 01, 2023, 03:54:29 AM

Quote from: Outhue on January 31, 2023, 12:03:23 PM

<…>

Not that I think it will get too far, but in light of all this wave of so called crypto influencers or alike, Spain has started to try to enforce rules to go by. Recently, the CNMV (National Securities & Exchange Commission), stated that they have reached out to 50 national influencers that were promoting crypto advice without the necessary background (it seems that they have to know what they are talking about, bear objectivity, and assure there are no conflict of interests in their doings).

Quote

However, other persons who are subject to certain minimum requirements may also produce and disseminate
recommendations. When such persons present themselves to the general public as having experience or knowledge regarding financial
instruments and the market, or are perceived as such by market participants, the regulations qualify them as ‘experts’, thus being
subject to additional requirements.

This looks like a mess, they will only need to meet those requirements if they are presenting themselves or are perceived as professionals., it would be peanuts to avoid such things and easy to win in court if they are ever charged.

The SEC has been doing it far easier, you promote something and you don't disclose you're getting paid by it:

Quote

"The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,"

We all know how it ended with Kim, 1.2 million fine for takign 250k and three years to stay out of promoting crypto.

As for advice in general and not shilling, it's pretty hard to quantify those, there might be guys who nailed every price change last year and now they are not sure what day is tomorrow, even if one has the trading background if he sucks completely how do you deal with this?

Beparanf

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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..

Most of the youtuber gain money from their content profit and not with their crypto bags. They are just using the crypto content to attract viewers since that’s what most people want to watch and not the boring 1hr video explanation about proper investment.

Their content is obviously don’t have any good advise for investment purposes but only for entertainment to let the viewers hook on their content. I don’t see anything wrong with these since youtube is not an educational platform so content creator can post whatever they want to entertain all viewers since that platform is a social media.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

Quote from: Outhue on January 31, 2023, 12:03:23 PM

<…>

Not that I think it will get too far, but in light of all this wave of so called crypto influencers or alike, Spain has started to try to enforce rules to go by. Recently, the CNMV (National Securities & Exchange Commission), stated that they have reached out to 50 national influencers that were promoting crypto advice without the necessary background (it seems that they have to know what they are talking about, bear objectivity, and assure there are no conflict of interests in their doings).

As an initiative, It’s really a drop in the ocean though, and may only have a chance of influencing (pun intended) large national influencers. We still need to see it actually leads to something concrete, which is pretty uncertain.

BlackBoss_

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Rollbit is for you. Take $RLB token!

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?

If you are an expert in any area, you don't have to show yourself on Youtube. Mostly successful people like this want to have spare time, freedom and they can share their knowledge when they want but not with any regular basis like 1 video daily, weekly.

Especially if you are free financially, very successful financially, you don't waste time to make videos on Youtube.

Exceptions are only if you have love with videos and obsessed with sharing knowledge, technical support and advice to community. You want to give away your knowledge and if you are clever, you can realize that such Youtubers will mainly share video about knowledge, technical things than shilling projects.

It is very easy to watch videos and feel that Youtuber is shilling a project but not focus on knowledge. If you watch that Youtube channel playlist and find more similar videos, let's ignore that Youtuber.

I only follow one cryptocurrency Youtuber, Andreas Antonopoulos: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ

mk4

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Paldo.io 🤖

They're not financial advisors despite how much they want to portray that they are. Saying that they're financial advisors is like saying that I'm an engineer because I built a house on Minecraft.

CryptoPanda

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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..

Every teenager who got lucky and made money from crypto and nfts now consider themselves to be financial experts. It annoys me when I see kids who play video games on Twitch, they have no background in finance, know very little about decentralized finance but for the sole reason that they made money from a pump they consider themselves professionals and give tips to others how to become successful like them. It’s SBF all over again.

drwhobox

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- hello doctor who box

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?

That makes them nothing. They are just a random guy who got lucky investing in a project. Youtube doesn't make them financial advisor.

Quote

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 little note in the video that mentions 'this is not financial advice' allows them to talk like experts, and they actually convince their followers by their content to get into the project they get paid from.

hatshepsut93

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Why stop only at youtubers? Bloggers, podcasters, twitter accounts, news sites and so on aren't that different too - if you are not paying for it, you are the product. In the world of regulated assets financial advisors must obtain a license to operate and they face punishment if they intentionally mislead their customers. Crypto advisors aren't regulated, they can easily promote scams to their customers and not face any consequences.

Obari

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I buy all valid country Gift cards swiftly.

One thing we must understand about YouTubers is the fact that they're all chasing the bag and doing anything to attract and call the attention of their niche is all that truly matter to them and with that behind your mind, you'll always have the zeal to do your own research (DYOR).

If you read the description, there are one or two ways they try to out a disclaimer on the video and Laos stating that what they're doing isn't a financial advice a d I'm also in the stand point that just stating that the video isn't a financial advice shouldn't be a yardstick to freedom because they've already the trust of their followers and posting sure projects, their followers might wan to give it a trial and at the end loss money.
So who ever makes a video giving advice and opinions about any project should help responsible as well and I'm sure that this measure will really help

Upgrade00

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Quote from: Outhue on January 31, 2023, 12:03:23 PM

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.

stompix

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Blackjack.fun

Quote from: Outhue on January 31, 2023, 12:03:23 PM

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?

Attention whores, scammers, wanna-be traders, "influencers" living off ads? Cheesy

Quote from: Outhue on January 31, 2023, 12:03:23 PM

Aren't they supposed to keep their financial advice to themselves if they don't want to be a financial advisor?

If you know your advice might suck, isn't it better to earn from clicks and ads and putting somebody's else money at risk? If you nail the predictions you get more views and more money if you fail completely and nobody likes you anymore at least you didn't also lose your home trading. Think of selling books on how to win the lottery!

Coyster

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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.

Outhue

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DGbet.fun - Crypto Sportsbook

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..

Topic: Crypto YouTubers are all financial advisors (Read 397 times)