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217 sats \ 1 reply \ @nym 21 Nov 2023 \ on: How good is your 'sus' radar? What RED FLAGS do you tend to notice? bitcoin
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Promising Guaranteed Returns: Influencers guaranteeing high returns on Bitcoin investments are a red flag, as the crypto market is unpredictable.
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Lack of Transparency: Be cautious of influencers who are not transparent about their investments or affiliations with crypto projects.
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Pressure Tactics: Watch out for influencers using urgent language or pressure tactics, as this can be manipulative.
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Overemphasis on Price Predictions: Excessive focus on Bitcoin price predictions is misleading, given the market's volatility.
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Promoting Dubious Projects: Influencers promoting unknown or questionable crypto projects, especially those promising quick profits, should be approached with skepticism.
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Lack of Financial Knowledge: Influencers without a solid background in finance or cryptocurrency may not provide reliable advice.
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Constant Shilling: Continuous promotion of various coins or tokens may indicate an influencer is more interested in personal gain than genuine advice.
These are all spot on
The incessant “risk free”
yield schemes of the last bull got so, so many wrecked…I know multiple personally who got trapped
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