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.
Topic: Simple advice, don't get carried away by people success stories. - page 4. (Read 606 times)
December 14, 2023, 02:07:06 PM
December 14, 2023, 12:51:30 PM
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.
December 14, 2023, 12:45:16 PM
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. December 14, 2023, 12:43:42 PM
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.
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.
December 14, 2023, 12:09:12 PM
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.
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.
December 14, 2023, 11:55:28 AM
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.
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.
December 14, 2023, 11:17:47 AM
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.
December 14, 2023, 11:13:59 AM
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 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.
December 14, 2023, 10:12:48 AM
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.
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.
December 14, 2023, 09:54:20 AM
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.
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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