Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: _act_ on October 15, 2024, 07:12:39 AM
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
Allegations will remain as allegation until there's not enough evidence that will be released. At least that's what I believe especially with a huge following like him, I don't think that he will speak up with regards to these allegations.
This is a bit off-topic, but we know what happened with Mr. Beast and his former employee of the team "Kris Tyson". That would be a far worse problem for him, but he didn't address it at all nor speak his side to it and instead, kept his mouth shut, and just continued making videos. He will act the same with this one as well, and he isn't the only famous influencer that are doing these kinds of things. I mean we've seen many famous influencers also did it like Jake Paul and his NFTs where many got scammed, but he's still a popular influencer.
If this is true though, I don't also think that it will affect him, his popularity, and his online presence as well. With over 320M subscribers on YouTube and many more in different platforms, many will just ignore it and will say that it isn't true since it's all ALLEGATIONS.
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Any rich and famous celeb thinks they are untouchable until they aren't.
We have se n many celebrity including Kim Kardashian were sanctioned to pay when she was noticed by authorities promoting crypto thru ICO.
Mr. Beast is however pretty much popular and are not hostile to the government. If he does things authorities don't like he will probably be jailed. I guess for now they let it slide.
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Not the first time that we have heard a influential personality promoting a scam coins or dumping altcoins. So I'm seeing it this way,
a. MrBeast could be the victim himself as he doesn't know how everything works in crypto
b. He knows what's coming and yet he colluded with the project behind
And if there is a concern, maybe they can file charges against this famous influencer and see how it goes in the court. Because I think those who have been found guilty before have to paid huge fine if I'm not mistaken.
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I only watched few of his videos, but this news clearly make list of MrBeast controversy even longer. Anyway, i expect his action is intentional since he's rich enough to do proper research or hire advisor who would do proper research and warn him about action that could be illegal or controversial.
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Many so-called social media influencers are cashing in their some level of popularity and following by endorsing memecoins to their financial gains and to the detriment of their followers who invested money when the pump will be over. We already know what can happen in a pump and dump project...the end result will be people hodling coins or tokens not worth anything. And this is now so common with memecoin. That is why we have to be careful when something is endorsed and promoted by a certain personality...we might be eating shitcoin at the end. I am hoping that MrBeast will stop what he is doing because he is hurting his followers, the industry and even his own credibility.
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I only watched few of his videos, but this news clearly make list of MrBeast controversy even longer. Anyway, i expect his action is intentional since he's rich enough to do proper research or hire advisor who would do proper research and warn him about action that could be illegal or controversial.
Funny enough there's no consequences for his actions whether ethical or not. Mr beast is big, his brand is loud, even as loud as YouTube. What can we do? It is fine not to trust anyone and just stick with our dear bitcoin.
Meanwhile, Mr beast could be the owner or co-owner of the altcoins promoted.
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This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
According to the article, MrBeast is not the creator of that token. He invested a hundred thousand dollars in it and used his status and influence to promote this project. After the project pumped a lot, he made a 9 million dollar profit from that token. That is what I understood from that article. If his initial investment was just a hundred thousand dollars and it became 9 million dollars when he dumped that, it was almost 90x at that time.
I would like to ask what you would do if that were you. A project pumped 90x, and you dumped your share to take profit. I see nothing bad there. I would have done the same thing. I won't wait for the token to hit 1000x. If a project did 90x, that means it was a good one. Do your research before you invest. That is all that I have to say about it.
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
are we really surprised? many influencers want to earn as much as possible and what easier way to do that than promoting a crypto project then taking profit from it without any consideration of your followers if anything i will say this is his followers' fault for trusting him too much and not making their own research or analysis of the project if they all just did not invest these projects despite mrbeast's promotion then he would not be earning and people would not have lost their money
it does show tho how easy it is for these big influencers to literally influence people into making a decision i think we should all do better
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MrBeast and other celebrities don't care that some of their followers may be young or have limited trading experience. If you believe what these celebrities say, it's easy for scammers to trick these investors and steal their money. It's hard to prove such accusations, so people should be more careful about who they consider to be an influencer.
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I do not know when people will know that these projects are pump and dump.
Some of them are so blinded by their love for these celebrities that they dump their senses in recognizing that these projects are not long-term. I always tell people that influencers and celebrities always have a personal interest; that's why you, who are a follower and believer in them, have to be very careful with the advice that they give that you follow. Even if you love someone, you need to be able to understand the need to verify every piece of information that they give to you before following it because sometimes they can also be wrong and they may promote something to you based on their selfish and personal interests.
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This is a bit off-topic, but we know what happened with Mr. Beast and his former employee of the team "Kris Tyson". That would be a far worse problem for him, but he didn't address it at all nor speak his side to it and instead, kept his mouth shut, and just continued making videos.
He has enough money to buy the services of the best PR in the industry. Good job to that company because their strategy of letting the issue die down by ignoring it seemed to have worked with little damage to their client. With more negative news piling up like this pump and dump, it will be tougher for them to protect the reputation or image of their client.
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
We really don't know if projects are design to be p&d until it's too late. And that has been the case, whether it's moral to do it, however, if some big influencer has been behind this, for sure it will be magnified by crypto community. If I'm Mr. Beast, since he has a lot of money already, why ventured to crypto? Just continue to become a influencer and then help other people that he has been generating. He has been a philanthropist, he has been in some poor nation in Africa and bring a lot of help like drinking water and shelter.
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Mr. Beast is one of the most influential figures on YouTube, I think he has the largest channel on YouTube and gets millions of views daily and makes imaginary profits from these views, so I do not expect that he deliberately deceived his followers.
I mean, he gets much more profits through YouTube than he will get by promoting pump and dump coins, if he loses the trust of his followers, his channel will definitely end and he will lose, so I do not expect that he deliberately deceived his followers.
I do not know if the accusations are true, but the mistake is primarily on the followers who are influenced by the words of celebrities and do not conduct their own research before investing in any coin. And secondarily, on these celebrities who betray the trust of their followers.
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
Yeah, he did not break the rule so he won't face any charges but he made money out of his fans That's sad. I have even seen the money he is showing off to his fans and followers is also rented don't know how true That statement was but I don't follow him or watch his videos.
And I will never buy any token, especially the memecoins if they are being recommended by some celebrity with millions of subscribers.
Vitalik the ex CEO of ETH has done this many times he has been given a good amount of memecoins many times from the project owners as a reward and the money was huge too and he did not care and dumped the coin and bought the ETH which gave him some bad reputation that next time a project giving him some tokens as reward will think 2 to 3 times and the conclusion will come as to won't give him anything
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This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
People never learn that there is such a thing as pump and dump and influencers taking you for a ride; they make you fear for missing out on the coin/token that they are promoting but the truth is its just a ride meant to persuade you to invest and when the token is, in the market they will dump the market, the developers and the influencers and you will be left to cut your losses or totally lose your investment.
These influencers and developers are laughing at you while they are preparing to go on a beach for a vacation courtesy of your money. If you keep believing these influencers, this is what's going to happen to you.
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People never learn that there is such a thing as pump and dump and influencers taking you for a ride; they make you fear for missing out on the coin/token that they are promoting but the truth is its just a ride meant to persuade you to invest and when the token is, in the market they will dump the market, the developers and the influencers and you will be left to cut your losses or totally lose your investment.
These influencers and developers are laughing at you while they are preparing to go on a beach for a vacation courtesy of your money. If you keep believing these influencers, this is what's going to happen to you.
Investors should follow experienced and successful investors in the market rather than celebrities from other fields. Perhaps their expectation is that these projects will reach millions of investors through celebrities, then the token price will skyrocket, and they can easily take profits at the right time.
I'm not sure if MrBeast genuinely wants to support a scam project, he's already wealthy and doesn't need to ruin his reputation for a few million $. I think he's just trying to create an engaging video and capitalize on the crypto trend to reach more YouTube viewers and subs.
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This is the news: https://cointelegraph.com/news/mr-beast-allegedly-profited-promoting-dumping-altcoins
What was accepted: The YouTube creator doesn’t appear to have broken any laws, but his actions have sparked ethical concerns within the crypto community.
This is not the first that we have seen. There are many while people will trust the influencer or celebrity that created a coin. The celebrity will dump the coin and people will be disappointed.
I do not know when people will know that these projects are pump and dump.
People already know these projects are part of a pump and dump scheme but they join because few of them trust the person and the celebrity and they get scammed while others knowingly take part with the money they don't care to lose so they gamble it and either make a lot of money or lose it all. These influencers are always a big fraud in my opinion they show you money and take money from you.
This must be illegal if he have not given the disclaimers and if he had promised his fans a big return but due to the disclaimers and early warning about investing in this coin the fans can't really sue him because they risked their funds with their own will so nothing can happen now. They learned some lessons now.
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Mr. Beast is one of the most influential figures on YouTube, I think he has the largest channel on YouTube and gets millions of views daily and makes imaginary profits from these views, so I do not expect that he deliberately deceived his followers.
I mean, he gets much more profits through YouTube than he will get by promoting pump and dump coins, if he loses the trust of his followers, his channel will definitely end and he will lose, so I do not expect that he deliberately deceived his followers.
Most of his followers are young right? I think a lot of them are gullible and forgets quickly. His handlers most likely know this and understands that they could still get away with the pump and dump scheme using the right moves/maneuvers. Besides, there is never enough money to be made for the rich and famous. They always try to do deals that will benefit them financially.
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Mr. Beast is one of the most influential figures on YouTube, I think he has the largest channel on YouTube and gets millions of views daily and makes imaginary profits from these views, so I do not expect that he deliberately deceived his followers.
I mean, he gets much more profits through YouTube than he will get by promoting pump and dump coins, if he loses the trust of his followers, his channel will definitely end and he will lose, so I do not expect that he deliberately deceived his followers.
Most of his followers are young right? I think a lot of them are gullible and forgets quickly. His handlers most likely know this and understands that they could still get away with the pump and dump scheme using the right moves/maneuvers. Besides, there is never enough money to be made for the rich and famous. They always try to do deals that will benefit them financially.
Yes, it's true, honestly I don't follow YouTubers much so I got to know Mr. Beast through my kids, they love him very much and follow him constantly and always tell me about his latest videos and I watch some videos with them. So yes most of his followers are young and they are greatly influenced by him and believe everything he says, so it's very easy for him to influence them.
Also you mentioned a good point that rich people are not satisfied with money and they like to collect more and more so maybe he thought it would be good to get some extra easy money.
But despite all that I'm not sure if he did it or not. Only time will reveal the truth.
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The problem is not MrBeast or ethics in these cases, the problem is the army of followers that these types of people have. In my country, a fairly well known YouTuber (I think he calls himself Dallas or something similar), but not as well known as MrBeast, did the same thing a few months ago, launched 2 tokens and the same thing happened both times, many people lost their investment in a matter of hours. And the problem is that people believe anything and fall into the same trap again.
There is a very used saying for this type of thing, I will translate it as best I can: "If idiots did not exist, those who deceive idiots would not exist".
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The problem is not MrBeast or ethics in these cases, the problem is the army of followers that these types of people have. In my country, a fairly well known YouTuber (I think he calls himself Dallas or something similar), but not as well known as MrBeast, did the same thing a few months ago, launched 2 tokens and the same thing happened both times, many people lost their investment in a matter of hours. And the problem is that people believe anything and fall into the same trap again.
Following more accounts on social media will force you to watch what they watch, and if most of the community follows people like MrBeast, you will definitely watch his videos in one way or another. The main problem lies in following advice without verifying the information, doing deep research, or reading the comments on the video, but we really cannot blame a person because he chose the wrong influencer or investment, the problem lies in continuing to believe such a scam.
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but we really cannot blame a person because he chose the wrong influencer or investment, the problem lies in continuing to believe such a scam.
That is precisely the problem from my point of view. Is an influencer necessary for something? I think not, and for several reasons. Followers do not have the same economic capacity or the same contacts, and I am sure that they also have advisors to know where to invest, so blindly following what a person with a lot of money does or says does not have to be valid for others. The same could be said for followers of Musk and others.
I've always thought that walking the path is much safer and more rewarding (whether we make money or not) than following the path.