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+--- Thread: Whats up with Celebrities and ICO's (/showthread.php?tid=5728004)
Whats up with Celebrities and ICO's - Eagerkid - Sep 30, 2017
PURE INVESTMENTS ULTIMATE DISCUSSION
WHO IS BEHIND THIS? Crypto Media Group
The are working with multiple celebrities accounts to advertise ICO tokens .
We see this a lot with stocks and how news will come out about celebrities investing in certain companies to attract investors. And now we are seeing Celebrities advertise ICO's. These coins might not be all bad, but you need to be very cautious when investing, especially with these ICOS. The reason is simple, when they are being promoted they are being pumped and the evaluation gets rocketed. Most of these celebrities are being paid to promote, and even if they do own the tokens they likely received them for free. Don't fall into the trap of thinking they are actually investing in these coins. If they own coins, they will likely sell them as soon as they hit a exchange.
LIST OF CELEBRITIES
DJ Khaled
Floyd Mayweather
Jamie Foxx
Paris Hilton
The Game
According to Coindesk crypto tracker, the ICO'S have received over $500m in September
* - NOTHING MATTERS - Sep 30, 2017
IMO, once you see Mayweather promoting a coin you're wayyyy too late & founders prob have a mad % of coins.
* - SLY - Sep 30, 2017
Valid point OP .
Those celebrities have no knowledge of crypto currencys or have any IT experience so Investors shouldn't jump the gun when seeing these names pop up.
* - Eagerkid - Sep 30, 2017
(Sep 30, 2017 12:51 PM)NOTHING MATTERS Wrote: IMO, once you see Mayweather promoting a coin you're wayyyy too late & founders prob have a mad % of coins.
Correct which is why you should be especially cautious when investing. The coin gets pumped and then when you go to invest you are buying it at a huge premium.
I would say the biggest reason people get killed in crypto, is that they dont take the time to look at the market cap of the coin and figure out a evaluation.
Lots of people will think, "Wow a celebrity is buying it, and it is only $1 thats cheap" when in reality their is $1b coins, and so the evaluation of the coin is $1b which is silly for any ICO
(Sep 30, 2017 12:52 PM)SLYjnr Wrote: Valid point OP .
Those celebrities have no knowledge of crypto currencys or have any IT experience so Investors shouldn't jump the gun when seeing these names pop up.
Yeah I agree, but people will always invest no matter how much you try to explain to them :p Not saying they are all bad, but their are certainly a few
* - EdoFazlinovic - Sep 30, 2017
From my opinion, never invest in ico that some celebrity promote...
They are just paid alot of $$$ to promote those ICO's. Well, maybe it will pop up some good one, but I doubt.
* - SIM-403479 - Sep 30, 2017
Dan Bilzerian claimed to have bought bitcoins too. I genuinely believe he did buy though.
* - Eagerkid - Sep 30, 2017
(Sep 30, 2017 02:55 PM)Jamieee Wrote: Dan Bilzerian claimed to have bought bitcoins too. I genuinely believe he did buy though.
Yeah, he likely was just investing and wasnt trying to promote it
* - SIM-403479 - Sep 30, 2017
(Sep 30, 2017 03:37 PM)Eagerkid Wrote: Yeah, he likely was just investing and wasnt trying to promote it
He did tweet and post on instagram a few times I think.
* - Omniscient - Sep 30, 2017
ICO's are destroying cryptos by inviting fraudsters and then regulation will follow. It hurts reputation and growth.
But more to the point....celebrities interested in lining their own pockets are probably being brought in by bad actors (figuratively).
* - Eagerkid - Sep 30, 2017
(Sep 30, 2017 04:37 PM)Omniscient Wrote: ICO's are destroying cryptos by inviting fraudsters and then regulation will follow. It hurts reputation and growth.
But more to the point....celebrities interested in lining their own pockets are probably being brought in by bad actors (figuratively).
I totally agree, way to many ICOS promise technology that is not feasible within a reasonable time. The market is certainly reflecting it