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List of tips for navigating "Crypto Journalism" and this sub in general

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by COINS NEWS 99 Views

After a bit over 2 years of being a regular being in this sub and interacting with 'crypto-journalism' in general I thought I would make a list of some more intermediate concepts and pitfalls to avoid that go beyond the classic entry level - don't click on links from unsolicited messages and to avoid over-trading or leverage i.e. DCA, hodl, and don't fall for scams. These are intended to be tips that are relevant for someone who has already progressed past the novice phase. I am aware there will be a lot of people here with far more experience than myself so feel free to add any of your own to this list:

  1. Beware of article headings that mention a few mainstream reputable tokens then a random one you've never heard of. Something like "How BTC, ETH, MATIC and SCAM are set to rise on the coming fed announcement" is most likely an article that has been paid for by someone who is trying to pump and dump or rugpull the token SCAM. Be very wary of the odd token out in these headings. Best case scenario its mildly disingenuous shilling of an honest project by their marketing team.
  2. Articles will very commonly make false equivalences to draw their own conclusions that are suitable for clickbait. A common way of doing this is to equate wallets with number of people. A recent example of this is articles that are claiming most people who are staking Eth wont sell when it becomes unlocked as they would be selling at a loss. The truth here was that this Eth was predominantly locked in for staking when the price of Eth was higher than what it is now. Not that those people bought this Eth in the last bull run. For the record I don't think Eth will have a large sell off with unlocking but this reason is just wrong, I would even guess most of the Eth that has been staked was acquired when Eth was much cheaper than today's prices. Another example of this is when an article will say "number of users of 'X' chain double in past quarter" this is probably just the number of wallets. Users and wallets are not the same, especially when people are expecting an airdrop.
  3. This one may be too obvious for this list but the phrase "crypto analyst" doesn't mean anything. Even if that crypto analyst called the top of the 2021 bull market or the bottom of the 2019 bear. Even if that analyst is good predictor, their prediction has been warped into a headline stating something in black and white terms. Most likely the original prediction was more along the lines of "This price point is likely over the next cycle" which has been turned into "BTC will rocket to 150k according to crypto analyst".
  4. Anytime someone says "Everyone here holds 'x' view but I think 'y'", they are manipulating you, consciously or subconsciously. If the argument is good people generally just state it instead of positioning you to feel sorry for them or that they are a victim going against the grain. It's not inherently bad to emotionally position the reader but its important to be aware as a reader that this is happening.
  5. ChatGPT is everywhere. Personally I just tune out whenever I read the word "furthermore". I guess that isn't terrible but don't expect to find new idea in a ChatGPT wall of text. It'll just repeat whatever they see as conventional wisdom. I read this sub for new ideas or ways of thinking, typically these come from poorly written comments and in depth conversation.

Let me know if anyone has anything to add to this list beyond the usual: DCA, Not your keys..., Don't leverage etc. I would love to hear it!

submitted by /u/Cadellaoc
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