In this era of podcasts, tiktoks, tweets and grams just about anyone can become an influencer if they hit something at the right time and have a little luck.
This isn't to say that cream doesn't rise to the top, but there are plenty of people with just an opinion throwing it out as advice and have gained a cult following to give it credibility.
Who are you taking advice from - should you be?
With so many crypto personalities and influencers out there it is tough to weed through all the crap. However there are some thing we can do to see if someone is worth listening to or just pushing their opinions of an agenda.
Experience (qualifications)
There is something to be said for experience, especially because I truly believe in the statement
Experience is the best teacher
With that said, has someone who is giving advice on the price action of cryptocurrencies shown a track record of success? How long have they been actively investing in crypto? Is the information they are providing useful to you in a way that it adds value to your decision making or knowledge base?
Actions Speak Louder Than Words
An influencer that is spouting out a particular piece of advice, or even a specific call, are they acting on it as well or actually doing something different? It happens more often than you think.
Hype and propaganda - the reality is it works. I know that if I was more outlandish and over the top I would get more eyeballs on my stuff.
But, after looking back on things like Bitconnect and obvious sh*t coins that were nothing but an ICO pump and dump it is good to remind people to pay attention to who and what they are listening given the current cycle of the Defi market.
It's full blown DeFi and NFT season and projects are popping off at the pace ICOs were back in 2017 so pay mind to who you listen too and what you chase.
THERE IS ALWAYS UPSIDE AND DOWNSIDE RISK TO ANYTHING YOU INVEST I
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I can’t stand the word “influencer” at all! It’s a load of shit, but not as bad as “thought-leader”. Those get used so often of late it’s annoying.
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lol. List the "thought-leaders" on Hive.
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👍 How do you feel about "proof of brain?" 😉
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It’s an odd one but not the worst I guess. I was confused by it for sure lol
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Yes, most definitely "odd" ... You are being gracious ... 😉
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It’s a big step , I mean nft but I want a more organized system and mode of operation. Crypto rocks af
Most of them out there are not influencers. As you said, they are voicing their opinions and the algorithms somehow managed to catch the terms that are popular in the market. That's why most of the accounts dump token names and nothing more.
I look into those posts and videos to know what coins are coming in the market. I don't follow them for advice. Well, I follow you for your advice :)
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Yeah, I'm starting to pick up on that too. I use tiktok especially to see what coins just got added to the hype train and hope I see it early.
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I think you should also start making those videos in between so that you get traction on your other videos :)
As your post correctly challenges this idea, I personally think of this as a "sign of the times." The only question? How is this working out for us?
"Fake it till you make it" is a common phrase amongst these types of people. Very sad, at least for a brief period of time, how "successful" some of them are. Long-term? A whole different story ...
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Yeah, but unfortunately the "influence" a ton of new to the space in those short periods of time.
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NFT is the key now. Is going to change every where.
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