MrBeast allegedly reaped $10M promoting and dumping altcoins

[robelneo]

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.

[MrSpasybo]

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.

[ZAINmalik75]

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.

[Zed0X]

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.

[yhiaali3]

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.

[Freemind]

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".

[hugeblack]

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.

[Freemind]

~snip~

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.