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DO YOUR OWN RESEARCH (Patreon)

Published:
2023-07-17 05:28:31
Imported:
2026-06
Tags:

Content

Hello! Today I want to tell a story about someone that I've had the unfortunate experience of watching go through 3 failed projects in a row.

As a quick update, I've been working a new case: SAFUU. An absolutely ludicrous project, with a surprisingly large following who are now furious that the project they did their own research on, turned out to be a scam.

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Comments

Alt-Daemon

In This World You Either Crank That Soulja boy or it Cranks You

WillyC

simple question to ask yourself "where is the return coming from"

Gary Woodhead

“He Googled it” !!! Got a great idea for the channel, why not explain some basics of how to do some simple due diligence on a project. Education, Education, Education

Nicola Kalderash

People don't know how to actually do research. Websites to view. Collections to analyze and contrast. It's a big joke.

BrandEver

I had an uncle who had aspergers or something (idk if he was diagnosed or not) People would often take advantage of him, basically strangers asking to borrow money and never coming back. These people feel like a version of that. Whether it's due to some disability or just being so desperate to get rich quick like a gambling addict, idk.

Josh Foti

What are the questions one should be asking when doing own research?

Benny

Unfortunately, crypto as a whole has reached a point where getting scammed is the new default expectation, which leads victims to immediately blame themselves for not doing enough research. It's literally fraudsters' utopia.

Sarah Ward

I feel bad for this guy :( not the brightest bulb in the chandelier

Adam Stenning

I often find plumbers/electricians to be far more intelligent than office workers. They have a certain life understanding that many people lack. Anyway, the point is that we can’t bubble everyone from scams. Simply shed light onto it, keep doing what you’re doing. I think, people understand crypto as a synonym for scam anyway at this point. Long gone should be the days of the honest single mother attempting to better her future only to be rug pulled in a crypto scam. People won’t gasp in disbelief, they’ll roll their eyes in disbelief that the person believed these often fanciful, ridiculously named, projects. Appreciate the extra content, looking forward to your future videos.

Deehoi

“...Fool me once, shame on -- shame on you. Fool me -- you can't get fooled again.” - George W. Bush

Brian Gibson

He's an addict. Whether he views himself that way or not. In reality that is what he is.

Lewis Smith

You also see this rhetoric a lot with antivaxxers, climate change deniers and other conspiracy theorists, it's a strange combination of stupidity and narcissism to think you can know better than a body of experts overwhelmingly in agreement. I wonder how much overlap there is between these groups...

Mik Quinlan

Dunning Krueger in full effect. Research is not Google. Wow.

Phil Langlois

Coffee you should have a debate with Jason Calacanis about accredited investors in a future video! I don’t know him personally but he’s been quite open about his view of accredited investors and I’m sure it would be a great debate for both of you

Eric Morin

I consider all crypto projects scams. These guys are just living on hopium. "I want to believe!!!"

g0at

This man saw a carrot dangling and he YOLO'd for a big win. The carrot wasn't real but that wasn't enough to wake him up.

Robin Syl

I hate this "do your own research" thing. You see it in conspiracy theories too, anti vax, alt right, stuff like that. And if your own research doesn't match what they think then your research is wrong. The phrase means as much as "trust me bro"

Jeff Anderson

The reason we have regulations on the legitimate sides of this industry is to help protect the Mom and Pops from the charlatans and the shysters from taking advantage of people that are less knowledgeable in matters of money. FYI, This is the vast majority of us. We all get better at what we practice and are passionate about. Coffee, your videos, content, and delivery are head and shoulders above the videos when you first started. People that have spent a lifetime taking advantage of others also get REALLY good at it. That is why we need protection/regulation from people like this, and why I continue to support Coffee in his endeavors.

Doctor Popular

I really appreciate you sharing this and I hope you do make it public in some way. In the 1.5 years I ran NFTtheft, a twitter account that helped artists who had their art plagiarized by NFT projects, I constantly ran into folks like the victim you are interviewing in this video. They are gambling addicts who view themselves as "investors". The way that the media legitimized these types of cryptoscams also makes it hard for these types of victims to be able to identify their gambling addiction.

Jessica Jeffery

People don’t seem to understand that “research” involves months of data gathering and peer review. Not just reading up on something for a few minutes

Jackalgirl

I think the situation here is more than just Googling. He Googled the name, saw a bunch of hits pop up about the guy's prior involvement in rugs, and then decided he didn't believe them -- there was evidence, but he was looking for confirmation that this project was the real deal, so he rejected it. Researching for confirmation of the story you want to be true is not research.

alphacino

I think the only change we're going to see in the future is that instead of using Google they will use chatGPT to do their "research"

Kevin Furr

This isn't even a Dunning-Kruger Effect -- THAT affects normal people. This guy's an extreme example of a born sucker. Some people will keep falling for anything, born to be conned. They got burned by the last Nigerian Price but THIS Nigerian Price is legit. If this idiot would just take sober advice and invest prudently in Index funds for 20 years, he'd wind up a 50 year old millionaire. Instead he's going to be a 50 year old loser falling for yet another con with whatever money he's scraped together since the last con. Some people are going to be road kill no matter how much you preach to them.

Roman

He reminds me of idiots who believe climate change and vaccines work. Aka the mask sheep. Left wing fools who believe climate change real always for all sorts crypto scams deserve it. They’ll be dead soon anyway that’s good thing lol

Jumure

I’ve heard time and again how there’s no way to ‘get rich quick’ and that we should throw our money into ETFs and look away for ten years. However, I think the reason people keep falling for scams is the helplessness of the situation. You can’t make money without money. The inaccessibility of the American dream really seduces people into scams born of their hope.

Bacon4Life

I've been part of SAFUU since it's launch, and knew it was a scam because it's contract had a flaw, but they refused to fix it. I bought in at launch with caution, and made a few bucks however the hype was huge. The whole Defi needs to be regulated as it is 90% scams

Atama

I don't blame this guy for not being able to tell a scam from a legitimate project. The people who create these projects are doing their best to trick you, and they have some skill in that or they wouldn't ever make any money. No criticism there. But if you keep investing in projects and get burned, losing a ton of money, *don't invest in any of them anymore*. Just learn that you can't tell a good one from a bad one, assume they are all bad, and just stay out of that space completely. It's like someone who goes out to pick mushrooms, and every time ends up in the hospital for poisoning. I don't care if this time you have a really good guidebook and you're pretty sure this is a safe mushroom, you can't trust yourself. This is not a skill you have. Stop trying.

iot-root

Ooof! The comments in here seem overly brutal and cruel. I feel a bit of empathy for this guy as he seems like a genuinely nice guy. Seems like a bit of an unnecessary pile on.

Nico Taheny

I love that youre going back and revisiting older videos. It's sad seeing people like him exist. If you research where you should put your money, the best bet is always bonds. Hopefully he can get a financial advisor.

A. R.

I wonder what he thinks now that he found he's in a third investigation of yours. "Coffeezilla is investigating this... am I safe???"

Dennis Fahey

I have to wonder if those who use the "do you own research" line actually know how to tell a legitimate business from a scam. Fake websites that look very legitimate are proliferating. Some even are run by the same company (one company -> many sites with the same story). As such you get a faux vindication as you see the same narrative from apparently multiple sources when in fact they are only one. Almost ALL of these sites have hidden ownership although a sloppy one occasionally crops up. They have strip mall postal box mailing addresses as their place of business.

Vegito99

Honestly, I respect how you didn't really look down/talk down about this guy. It was really nice seeing that in you coffee.

Maryzilla

Being in twelve step programs where there is a lot of self delusion on many levels and aspects of life helps me understand this man. He thinks he’s gonna win … he has a gambler’s heart and state of mind, low level education and doesn’t seem like the brightest bulb in the chandelier. If you watch Intervention, there is an episode w a man who keeps on paying the Nigerian bait and switches in email and his family is warning him, “you’re going to lose the house.” And he says, “but one of them’s got to be real.” The mind is interesting. This guy on Intervention was on pills, I think. That’s why he was featured in the show … but the gambling state of mind is a serious dilemma and coffeezilla’s guy seems to be afflicted w something like it.

Matthew Colter

As a recurring bit, it would be interesting if you had a gullible person who called you or your bartender for advice about the scam he just invested in. It could mostly be a PSA about red flags and an arbitrary "risk of ruin" rating.

Peter Balnes

🤡💩💩☠️ he deserves it