I don't consider myself an expert by any means in the crypto-space, but there's been some mistakes that I've made and learned from and I want to share that experience with you guys so you don't go through the same heartaches. I used to follow YouTube channels that talked about alt coins. They would talk about the next big coin. ICO's. Upcoming pumps. A lot of it was usually super hyped up. When you look in the comments, it looks legit that this coin is great! Everyone is talking about it! Everyone says it's going to moon! I should buy now even though it's already jumped 500%! Right? Wrong. And in this video I talk about 5 reasons why you should stop watching this shillers too.
- You can end up FOMOing
- Pump and Dumps will kill ya
- You get in at HIGHS (FOMO)
- You get lazy and don't do your own research
- You're following the herd
Let me know your thoughts in the comments below!
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Welcome to AltCoin Post where we cover news and updates regarding all alt coins here on steemit & @dtube. Our goal is to bring you the most accurate and up to date info on all coins, good or bad. We’re here to help you make better educated decisions to help you success and prosper in cryptocurrency.
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Disclaimer: This is NOT financial advice. I am not a financial advisor. Please do your due diligence in every topic. Never invest your bread money. Take care of yourself & family first. Don’t always follow the herd, follow your heart.
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i also agree with you. Thanks for sharing the news and video. followed you.
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Pretty cool! Thanks a bunch!
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Looks Good
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nice!
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I agree with you .
We must do our own research before investing in an Ico..
Most of these icos are scam and the owners of these chains want to spread their affiliate links.
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Yeah. It's a dog eat dog out there, my brotha.
Just gotta watch each others back. Always do your own research :)
Agree 100% !!!
#onelovedtube
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absolutely
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It´s a big problem, that a lot of people see some videos, where youtuber say "Coin/token xxx is the best token" and buy a lot of this tokens without check this coin and the team behind the coin.
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Yes, do your own research for sure, but remember that altcoins are what is driving the innovation in the crypto space. The Ethereum altcoin was the catalyst for the boom that many of us have been enjoying over the past year. New projects that appear to established players will force innovation. Sure, 99% of all coins will fail, but even so, there is tons of opportunity for short term profits along the way.
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Agreed, the alt coins will obviously become the future, most likely based on ethereum. But as you said, most will fail and all the "reviewers" of them are only trying to pump them. There's a need for an unbiased analysis of what exactly these coins do, without trying to sell you on them. This would let you make your own decisions.
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Kind of hard to say, most people are lazy and it won't be changed, for those, I guess it's better to at least have some generic direction what to buy, although they'll most likely just end up panic selling... but I agree that many newbies get stuck on shitcoins just because they happened to follow few wrong shillers :(
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Yeah it really is a slippery slope. As I mentioned in the beginning, a lot of these channels actually have decent info to give. With that said. So does mainstream news. But it’s still has a lot of ulterior motives behind it and that’s the dangerous part. Thanks for sharing another perspective though. I appreciate that.
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Good video, I agree. It reminds me of stock brokers and analysts that are always giving bullish price targets while they actually hold the stock they are providing "analysis" on. The issue with people shilling with regards to crypto is everyone just wants a quick "moon" so they just follow anyone that has a decent following.
With that being said, the whole Bitconnect saga seems to have been a huge wake up call for investors who were aimlessly following shills. No doubt over time this will improve.
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This is a great comment with some great insights. Thank you for sharing it with all of us. Yes. Sometimes we need a wake up call. Like when I lost a bunch of $$$ trusting some guy saying “I promise you, this is going to take off real soon!”
Wake up little Susy. Lol
Thanks brotha
#onelovedtube
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Just look at the reddit /r/CryptoCurrency shills everywhere :)
Better do you own research...
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Yeah they're like the plague. lol
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Thnx very much, i am actually happy u posted this, many people are ignorant about these channels.
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You're very welcome! We need to warn as many people as possible. Especially newbies who are getting their savings ripped out from under them.
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One thing I've learn in trading that I really would like to share to everyone is don't believe too much in pump and dump group. Most of the time, the one that profits is the one who knows what coin is to be pumped and guess who it is?
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Yeah. Not me. HAHAHA
I agree man.
100%
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Yupp, agreed 100% brother. The 5 points you've listed are spot on, no one is immune completely to these psychological biases, even though we may think that we are invincible at times 😉
+1 that you've learned so well from your experiences, spreading that knowledge 👍🏼
Don't know your other interests besides crypto but if you happen to be into travelling, vlogs, fitness, self-development etc feel free to check out my channel, in any case keep up the good work and I'll see you around!
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That's awesome brotha! Are you on discord? Join our channel or message me @dnews
What the heck dude. You're ripped like a fricken turtle shell. LOL
I just started working out. I'll definitely check out your channel, man!
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Hey brother! sorry for the late answer!
I saw that you just joined the dtubedaily with dnews?
Great to connect 😁
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stop
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THAT IS INSANE
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Great advice. Ive learned going against the grain can be rewarding
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Great info. These pump-and-dump scammers drive me nuts how they affect both the markets and trusting individuals. It's not a terrible idea to listen to all the different information from all sorts of people who may be intelligent or entertaining, but it's most crucial to actually 'DO YOUR OWN RESEARCH' in regard to anything. I mean, don't you shop around when you buy anything of value? I've spent hours doing research on the which USB hub is fastest and has the most power for the best price (I think it was Superpbag lol), so it only makes sense to spend more time on something that you are investing in with real, hard-earned money!
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I agree with you
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Nice :) I agree that you agree with me :)
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I agree, 90% of them just tries to make money by promoting scams and pumping shit coins they bought. I just avoid youtube when it comes to crypto (unless its actually a member of the coin's team or something)
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I agree... I've realized there's more to gain from discussing the new technologies and companies actively solving world problems in unique ways. I try to not engage in discussions about the financials associated with the alt-coins and ICOs. If I like the Tech and believe in the mission then I will decide to back it or not.
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Thanks for the post. I have just started getting into Crypto a few weeks ago and I find the whole thing fascinating. Especially the blockchain technology. I think a lot of ICO's are still in their infancy as a company and I can see many of them going down. I will definitely check out the links you put up. Thanks Andy
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I find those channels useful and we can also profit from them. These crap channels will shill a coin and if they have thousands of follower, the coin will pump. Just make sure you do the opposite of what they say.
Hot coin = Shitcoin
Cheap coin = Shitcoin
Great Investment = Please pump my coin, so I can dump
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bitconnnectt
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I agree with you: anyone who is talking on the internet about a p[articular coin, has some hidden agenda, related to himself. Whether it is "popular coin", "hyped project", "person has holdings of this coin", "pump and dump", or similar reasons.
On the other hand, some coins, or tokens are designed that way. So people "spread the good word" and instead of company spending money direct for advertising, they can allocate that budget to the members (coin holders).
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Yup! Gonna be so many unsuspecting new retail investors that get sucked into bag holding that way. I'm totally with you on helping educate newcomers (or really anyone not doing their homework) on the pitfalls of the altcoin space. I think it's super important.
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Well said. I agree with you 100%
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Wow, I have to say I am impressed. Don't find much non self serving BS when it comes to crypto on Steemit. I am curious about your thoughts on my posts. It's a complete 180 from most the stuff on here:
https://steemit.com/cryptocurrency/@byzantinehash/zclassic-zcl-should-you-invest
https://steemit.com/cryptocurrency/@byzantinehash/old-doge-s-can-do-new-tricks-for-hooters-coins
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