Topic: Why you should trade reviews of crypto YouTubers with caution (Read 410 times)

Well it was a nice bump OP since they're even more widespread right now. I might go a bit off topic, but LinusTechTips Youtube account just got hacked recently and the hacker was like posting some crypto scams under LTT's name.

Not sure how many clicked into those links that were edited out of the original description, in short but the whole channel was like infested with crypto scams.
Going back to the topic, small to medium Youtubers would do anything just for money including those sponsorships that are not even up to par quality.

This guy called Suppoman still has videos from years ago, this is one way to know if he is lying all along it not, but I confirmed that he was not trolling around, almost all projects he called in 2018 did amazingly well, he made a lot of money, he called Fantom, Matic, Avalanche and many more, I suggest watching his last year bull market video before judging him, I don't like YouTubers myself but the truth is just there.

This thread was created five years ago but it still rings a bell, during the heydays of ICO Youtubers plays a vital role in many ICO projects, I fall on some of these influencers and got burned, this is where I learn to do my own research, your own research means you hear and read all the other reviews and views, especially the cons and bad feedbacks because this is where you get to read and see the weakness of the coin.
Youtubers are great at shilling a project, they always make it appear that the coin they are promoting is the coin you'll looking for or the next Bitcoin in the making.
Once I hear that the coin they are shilling is the next Bitcoin, I just know that this is a paid promotion, a good reviewer should always dwell on the good and the bad side of the coin.

YouTubers have their ranking, I believe this guy that OP refers to is better than BitBoy, he have talked about some big projects like Matic and Avalanche, he advises people to buy at a price point lower than it is right now, the problem here is if the market will go lower to take advantage of such prices, but BitBoY is a know shit coin shiller, probably the worst of them all.

This is not financial advice, I do not trust any YouTubers but they are a good source of doing the hard work for you by bringing new altcoins that may do well in future, that's if you are into altcoins, yet this is still very risk.

The fact that someone believes that a project is good does not mean that you should invest in the altcoin because they believe it is good. Instead, find your own reason to believe that the project might be a good investment.

This warning has be sounded here on repeat. Not only should you not trust the YouTuber selling you a scam trade signals, coins or project you should also be careful some accounts replying to the YouTubers post are bot that would mislead you.

Nothing should be trusted with you clarifying things up by researching and this sort of influencers trick doesn’t end on YouTube is not also on coin market cap, telegram, and so bunch of other platforms.

Some influencers genuinely provide honest and helpful views on certain topics, while others take advantage of their followers to promote harmful products for money. Choosing which influencers to follow requires wisdom to avoid being tempted by unrealistic offers. We should critically evaluate the information provided and take full responsibility for our decisions. Remember, the choice is solely ours.

Most of the crypto Youtubers are obviously paid especially on small projects that don't have enough recognition, They usually pay youtube to make a great review about their scheme or scam websites then a lot of people will be scammed by these scammers. I mean they are on a lot of social media platforms, especially Twitter, if you subscribe to crypto projects on Twitter you can see a lot of scams and suspicious promotions. Also, I think one of the problems is they want you to invest in something but doest want to be reliable to your funds.

You wouldn't really invest in something just because you want a simple youtube video about it, you would still do a lot of research about it first before investing in it, and any red flags would be a sign that there is something suspicious about it. I guess just don't rely on youtube reviews too much.

There are still a lot of great YouTubers that I watch whom I learn a lot from, especially on their content about investing, cryptocurrency, etc. I watch Andrei Jikh and Graham Stephen.

The caution not to follow reviews of people online is not just applicable to YouTube as you have mentioned. Some years ago YouTube had a large gathering of Influencers, and although these influencers still are in the platform, some others old and new have joined other social media platforms like Tiktok, Instagram, twitter etc, have large followers there and are now being sort after by the creators of these coins to promote their coins on these platforms for an agreed price.

In general we should be careful of reviews that you get online, many are biased because the promoters are being paid for it.

While this is still ongoing on YouTube I think a social platform that calls for more concerned at the moment is TikTok. You could see this shilling activities increasing on the app and while that of YouTube is properly arrange, TikTok doesn't care they just let it out there with the tending sounds and you get to see them automatically on your FYP (For you page). It's annoying because you didn't ask for this videos but because you're interested in crypto related content, they keep popping up on your FYP.

It was worst during the bull market although it has reduced now and we all know the reason why. It is because the whole market is bearish so there isn't enough spare money left for people to throw at this project they shill so it won't be profitable shilling at this time of the market. Immediately the market turns bullish again we'll begin to see this videos all over the web.

Actually this is subjective. Some says influencers are just using followers for money and subscription. But there are some who honestly shares their thought. Its hard to follow latest uptrend but they gives us information firsthand, so I think they deserved some credits for that. Its only up to us if we fall on their shilling and promotions if its end up worse. Of course they are some doing it for money so its your choice as well whose to follow.

I love and hate crypto influencers on Youtube at the same time, and believe me, not all crypto Youtubers are that bad, although, for them, it's always about having more followers and getting themselves rich, but some of them do care about their followers, they bring good projects and tell people what they are buying.

The problem is people rely on these Youtubers and fail to do their own research on the projects before investing their money.

Suppoman that OP is talking about is doing something right, he cares about when you should buy your altcoins, I watched some of his latest videos and this man still insist that Bitcoin will go down to 12,000$, and he told his followers that entry point, when you are buying the alt is what matters , to me this is good advice, it's all about when you are buying, he has never told anyone to buy when the market is recovering.

He could be wrong about Bitcoin going to 12,000$, but this has not stop me from buying some bitcoin and  altcoins every months, I have enough money to survive and I will keep using the DCA strategy, till Bitcoin halving.

*Facts*

•People like relying on others when it comes to making money.

•They always avoid taking responsibility for themselves.

•Some don't know what DCA means, they put all their money in a project.

•Always rely on you, do your own research and make your choice.

I have come to learn about some gems through these Youtubers and I made some good money because of them, I heard about Cartesi, PYR, Aave, etc from Youtubers, if not I wouldn't dare invest a penny on these projects, the explanation and the breaking down of what these projects solve makes sense to me because though this I was able to have the courage to go deep with my research and I found out they are saying the truth.

YouTubers make their strategy to get more audience. it's important to them because that's what they're working for. there's nothing wrong with this. but for those of us who follow trading reviews or tutorials shared by YouTubers, of course, we have to be more mature in making choices.

if we see YouTuber content like that, then as adults we definitely won't follow their YouTube account. we can choose it with our awareness.

doesn't it look like Elon Musk tweeted about dogecoin?
a YouTuber may collaborate with a project for their token marketing. any distortion of information, we can see whether it is appropriate for us to follow or should we ignore.

Who have good brains and are ready to learn will change themselves and don't let their decisions affected by Youtubers who mostly made videos to gain traffics and personal benefits. There are few people who do it for good with high quality educational videos but to find them, you must filter many trash Youtube channels.

Who don't have good brains, are not ready to learn will not change themselves by reading your topic or any other advisable resources they exposed to.

I've actually seen a good review about a project and when I checked it out, it turns out it's not worth it. And as such I don't really take social media influencers seriously as most of them are paid shillers working for their money. I don't get carried away by the numbers of views of the content or subscribers of the youtuber, I try as much as possible to always do due diligence before investing in any project.

I want to bump my topic because YouTubers are still making dumb videos to generate more clicks.
YouTubers have a tendency to generate hype content because hype is attracting more viewers, which generates more clicks and more clicks will make more profits for YouTubers.
We should be aware of it and don't trust hyping YouTubers.
Many YouTubers are nowadays also spreading hate because hate causes rage and rage generates also more clicks. It's often very toxic content such like from Tone Vays, who is a dumb conspiracy nut.

And YouTubers are still paid by certain coins to promote it. As outlined in my topic, it's a conflict of interest and coins are often shilled, where no neutral information is provided (only make coin xy look more favorable) and luring viewers into buying such coins.

If such individuals on YouTube were that much of an expert,i think they'll keep their strategies to themselves and sell it off for huge amounts of money or put it into practice to make millions for themselves
They mostly make this reviews to gain a certain form of popularity and spread fake rumors with no base whatsoever
It's best never to take them seriously

Treat Crypto Youtubers like Lawyers, If you hire them they don't care about how many people a criminal has killed or how many atrocities was committed all the care about is that Jury buy their proof or story of the criminal being innocent, To most of them it doesn't matter what the project is all about be it legitimate or a scam so far they get paid, meanwhile a few of them do actually care about their reputations.

As long as you do not have enough knowledge, you have to trust someone, not just trading but everything in life.
You must choose a platform where you trust and then gain experience over time and become an expert.
Often, experts do not try to announce anything so as not to muffle their reputation, so listen to those who do not give advice for free.
Who tries to help others will not care about the number of views, clicking on Like or placing referral links.

So ridiculous "experts"，and more ridiculous is that so many people are deceived by them, so bitcointalk is really a good place to learn.
Honestly, if he can be called an "expert", then I can even let my grandmother go to be an expert.

there is a popular saying that if market experts were so expert, they would be buying stocks, not selling advice. and that has been very useful in case of all these Youtubers and all the others on other platforms who call themselves "experts" when they are mostly newbies trying to make money in ways other than trading because they failed in trading.
and this doesn't stop at reviewers either. there are a lot of them out there giving all kinds of advice and misleading dozens of newbies.

Basically any suggestion, opinion,.advise, prediction spread on the media from individuals or outlets with lots of skepticism.
People mostly act in there self interest and shilling a project might be in the interest of the YouTuber, but not favour you.
Most times the hype they create can mask the product behind the project and give early investors ROI. That's why they do not lose credibility as easily.

The same applies to ANY famous influencer out there, from game tester to movie reviews and of course crypto projects, too. None of them is doing this for free, its just another form of advertising.

To be truth reviews are for sale and reviewer not putting disclaimer also that they get paid for the review

https://www.reuters.com/article/us-crypto-currencies-promoters-specialre/special-report-little-known-to-many-investors-cryptocurrency-reviews-are-for-sale-idUSKCN1NW17S

Of course, there are many platforms where information needs to be traded with caution. Such like Twitter and Facebook but also normal blog websites or ICO rating platforms which can be paid to rate a project better than it actually is.

Good comment. The crypto bull market in late 2017 brought lots of hype speculants and new rich kiddies into crypto which were only willing to gain a fast profit. In addition, most on them were very unexperienced and their advice was not helpful at all.
Lack of knowledge and hype/greed can be a very dangerous mixture.

I personally don’t trust any YouTube video reviews. I may take an odd look at one every now and then, but I tend to be completely sceptical of any advice given. Recently on my local board, someone posted a link to a YouTube video that was bold enough to tell us which will be the top 10 crypos for 2019. I took a look, and abandoned the video halfway through, feeling that the video had no clairvoyance into 2019 at all, and was conducted by a pair of amateurs trying to get some hits on their score count. That is perhaps another category: amateurs trying to get some hits.

Same applies for crypto Twitter or any Crypto (and non) Influencer in General to be honest

Crypto YouTubers are a very popular source for many ICO participants to get news for promising ICO projects. The result is a new business model of YouTubers to promote ICOs to a large number of followers. There are various channels in English but also in local languages.
Generally, you should trade all the information provided there very carefully and always doublecheck to other sources.

To give you an impression why you should trade crypto YouTubers with caution, here is why. There are different categories where the schemes can be divided in:


YouTubers getting paid directly from the project

The majority of the big YouTubers are getting paid from the project itself. The project hopes to get more investors due to this video because many followers trust in their YouTubers and believe them everything even it makes not much sense at all.
For a high payment the YouTubers will only mention positive facts and forget often to inform about risks and flaws of the project to get many followers in.
The review will most likely be a very biased one if the YouTuber gets paid.

Famous hype channels are Suppoman for example:


Would you really trust people like him?


YouTubers which try to distribute their referral link

A significant amount of YouTube videos is made on the purpose to collect money by referral-links.
Similar to the category mentioned above especially the advantages of the project are highlighted. In the description below the YouTube video you’ll always find a referral link which will lead you to the official site of the project where you can register and invest. It should be mentioned that the youtuber gets a reward if you use his link and join the project and invest, often a percentage of the amount you invest in. Therefore, the YouTuber will be interested that you join and invest in this project and review the project in a positive way.

A famous hype channel was (or still is) Trevon James, who advertised heavily for the Bitconnect Scam.


You’ll mention soon the interest of conflict between a serious analysis comparing both sides, negative and positive ones and a version of review to get you as an investor.

As a first impression these channels can be reviewed, but you should always trade the provided information with caution and never make an investment decision solely based on YouTube reviews.
It is always important to compare all available sources you find out there to consider an investment. Most YouTube videos are based on hype to get you as a new investor.


Of course, not all YouTubers are bad and everything is false information. There are a few good channels which are doing very detailed reviews and don’t support every weak ICO. It’s just important to know how ICO business on YouTube is made to avoid wrong investment decisions driven solely by hype.


What are your impressions of crypto YouTubers and your tips to avoid wrong advice?