Why all these crypto-twitter "influencers" are still exist?

[crypticj]

I've been thinking about this for a while and I understand that there are a lot of people who don't have enough knowledge about crypto or they blindly follow anyone who says that "it's easy to trade crypto and get $1000/day", but I still surprised that there "influencers" are still active and have a huge audience.

It feels like people don't remember what happened yesterday, because a lot of these guys say "bitcoin will go up tomorrow" and when they are wrong, they just ignore it and say "NOW it will go up" and they do it until it will go up to say "I told you so". If you look at all these posts you will see that they are wrong almost all the time and try to hide it to save this "rich trader" reputation. And people still follow their advice and believe them.

Most of these traders don't really earn money from crypto, they promote some scam projects or exchanges. And that's the second point of this post. There are so many "influencers" like bitboy that act like a crypto god or the CEO of bitcoin and promote scam projects like FTX and stuff and THEN when the sh*t goes down they pretend that this doesn't happen. Bitboy literally acts like he is the only reason SBF got caught.
 
So my question is this: if people are more aware of crypto/ bitcoin and all these scams, why they are giving power to these "influencers" to earn more money and scam more people?

And despite us having a strong and smart bitcoin community, why can't we win over "influencers" by showing people that they are all fake and lie all the time? We just literally need to who facts to do that.

My opinion is that these Twitter people are turning the crypto community into a freak show and people treat it less seriously because of that.

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[yazher]

There are some newbies out there that don't speak English well and also they are completely ignorant for the first time about the crypto investment they took this way to learn the things they need to do and instead of getting some working tips for investment, instead getting manipulated by those influencers who are also investors to the coins they are promoting. Others are also too lazy to make their own personal research and instead they will watch YouTube videos or Tweets from these guys that are not really there to care for their money.

By the way, if you can fix your post by giving it more space, that would be better for us to read it.

[crypticj]

There are some newbies out there
Others are also too lazy to make their own personal research

I agree, but I'm surprised that there are so many of them. Like there are Twitter accounts with millions of subscribers. I agree that there are lazy people and newbies, but I think there are more people who just follow the hype and really believe that you can become a crypto millionaire like the moon in a week lol. It's not even lazy, it's straight-up stupid.

p.s. thanks for the advice, I fixed the post

[Jackl87]

I've been thinking about this for a while and I understand that there are a lot of people who don't have enough knowledge about crypto or they blindly follow anyone who says that "it's easy to trade crypto and get $1000/day", but I still surprised that there "influencers" are still active and have a huge audience.

Yeah i kinda feel the same. I mean i can totally understand it, that if you are completely new to crypto and have no experience whatsoever in this space, that you are looking up videos of youtubers or influencers. If you are in this space for at least a few months though it should be pretty obvious to everyone with an average IQ, that those influencers are not trying to help people to make money, but they are only trying to increase their own wealth with the help of their followers.
They are either paid by the teams to shill their project, or they got a allocation to the private sale and then they are shilling that project in order to dump on their followers.

[o48o]

I don't get what you mean by "still", they have been a growing thing from the start and grow when ever the market grows.
It's insanely lucrative job to be one and they get paid a lot for different teams covering their coins.
Reason why they exist is because crypto twitter exist. There are ton of people in crypto twitter who know what they are saying, and masses of newbs or even older ones  can't tell paid influencers and actual crypto enthusiasts apart.

I would say that tik-tok and youtube influencers are way bigger problem though. People are actually following what they say just because they show their face and make a show about it.

But being smart has never won over masses. Being a populist and putting up a show is what attracts people.
IMHO you are giving way too much credit for crypto community or for people in general. People are stupid so markets are behaving stupid too.

And we have always been a freak show, there's no way covering that up.

[Wexnident]

It's because Twitter exists, and people, for some reason, treat it as a legitimate "news" feed. And, well, teams just pretty much abuse that and hire influencers who would promote their project. If you know Coffeezilla, he recently did a video about how he hired a Twitter influencer to promote his own fake NFT, and the influencer didn't even look at the contract or the project itself properly, he just went ahead and did it. It's why I never use any of my social media for news, I just use it to follow hobby-related stuff. 

I agree, but I'm surprised that there are so many of them. Like there are Twitter accounts with millions of subscribers. I agree that there are lazy people and newbies, but I think there are more people who just follow the hype and really believe that you can become a crypto millionaire like the moon in a week lol. It's not even lazy, it's straight-up stupid.

I reckon the internet just killed the way people used to methodologically study something, or outright ignore it if they don't know jack about it. Now most people are filled with half-baked knowledge about stuff.

[Questat]

Perhaps, it was the idea for an exchange platform to pay influencers to work with them and use their influence and power to attract and convince people to do trading while showing their money (fake money). Offering decent pay, these influencers will surely work hard and pay back what they have agreed with. We can't question them actually because they are just looking for a job but too unfortunate that this only lead to ruining their reputation.

[cryptoaddictchie]

So my question is this: if people are more aware of crypto/ bitcoin and all these scams, why they are giving power to these "influencers" to earn more money and scam more people?

Its not that they are giving the power. They just want to follow someone whose idea can be follow. Its just like copy trading. Someone promote or say I'll buy this and that then they show results. Of course you cant deny that there are some who wanted to have that kind of gain just by following someone. More or less its bit of a hassle to followers who are just been fooled. Im noy saying some influencers are all like that, there are true to their post without any money involved from the project but unfortunately there are who really doing that for money and they got a tons of followers. These people are the one that should be penalize for just using their power of community since they are famous.

[ryzaadit]

I think we-all know.

The one needed to be educated is "their follower" or someone who investing, It's clearly simple based on how the investment work. If you don't have experience, or any due diligence by your self.

They should not invest.

[blockman]

It's because people like entertainment and even if they see the actual thing, they want to believe blindly in these influencers. As for these influencers, they are there no matter what's going to be the market situation because that's their bread and butter and the followers that they've got is the niche and market that they're offering to the projects that may look helpful to them. Do not worry about it, in the US and some countries if an influencer advertised a scam, they'll be liable for it because they didn't researched first what the project is up to and they'll be sued for it.

[Yogee]

....And despite us having a strong and smart bitcoin community, why can't we win over "influencers" by showing people that they are all fake and lie all the time? We just literally need to who facts to do that.

Are you talking about the bitcointalk community? I don't know if you've read enough from this forum but there are also a lot of members who get it wrong. You can visit the speculation boards and you'll see all sorts of predictions but only a few get it right. Some members seem more professional showing some technical analysis but still the market turns the other way. What makes us better than those influencers?

[Apocollapse]

It feels like people don't remember what happened yesterday, because a lot of these guys say "bitcoin will go up tomorrow" and when they are wrong, they just ignore it and say "NOW it will go up" and they do it until it will go up to say "I told you so". If you look at all these posts you will see that they are wrong almost all the time and try to hide it to save this "rich trader" reputation. And people still follow their advice and believe them.

So my question is this: if people are more aware of crypto/ bitcoin and all these scams, why they are giving power to these "influencers" to earn more money and scam more people?

Because many people are stupid and only interested about the money, since there's a good traffic about this matter, many journalists are following what people are want to see, so they're creating a news about stupid prediction from self pro claimed crypto investors.

If people are smart and they're unfollow any influencer social media, I believe we will have a good discussion about the prospect and future improvement, not about money and profit only.

[Raflesia]

As long as there are still many beginners who really don't really know about this then indeed influencers like that will continue to exist regardless of how we corner them but still beginners always come which makes this even more complicated.
But indeed I personally don't really care about that because telling beginners also won't be ignored forever but it's a different story when they have experienced it.
I will only protect the people closest to me from conditions where they are trapped in cases like this.

[michellee]

Those influencers will still exist forever. They still want to target new people who want to learn to trade through them and tell them to follow suit. These influencers know how to attract new people and know psychologically that those new people want to earn a lot from crypto. Influencers can make more money than other people because they can provide ways that look easy but are difficult and use referral links to register on one or several sites that they think can provide big profits.

If the newcomers couldn't find more detailed information, they would surely be fooled by those irresponsible influencers. Other new people will continue the mistakes made by these new people because this crypto world will develop and more and more people will want to join and make profits in a short time.

[nakamura12]

There are reason why they still exist. They influence people to try what the influencer tried like crypto and they could also earn that way like referring people to a casino. There are newbies in crypto and if a influencer is not responsible then that newbie will get fooled because of being lazy doing research on their own because if a person is not lazy to make a research on their own then they won't believe right away if an influencer is sharing something and would have to make a research first then believe later.

[m2017]

The questions raised in this thread are really important and I don't think I can give one answer. The reasons why people still listen to these "influencers" may be different. Some of them have already been mentioned in this topic.

In my opinion, beginners want to believe in the possibility of getting rich by the swing of a magic wand. The twitter "influencers" gave the signal and you're already a millionaire. No need to study, no need to work, no need to develop. It only takes a couple of necessary words from a respected expert impostor who will help you become rich. The reason is similar to people playing the lottery or gambling, where a magical bet will suddenly improve financial situation.

Perhaps, my opinion will be in solidarity with the fact that these "influencers" have a negative influence and create an unfavorable, or rather, misconception, about crypto currencies.

What suggestions can be made to change the situation?

[makishart]

I think that doesn't even make sense to call most of influencer followers were newbies. Those people act like bots. It's quite easy to know that how people influencers were fooling its followers with spending a few minutes by surfing in internet.
The problem is those influencers may have millions of followers but im sure that most of these followers were bots. There are also various reasons that were affecting people's mind to follow those influencers.

There are many kinds of people in twitter. Just like someone who was following influencer but he was ignoring it. I never ever following stupid influencers. Im only following influencer that i think that if this influencer has been giving good impact to the crypto market and being honest like CZ.

[Captain Corporate]

Because they can make a profit, thats basically it. I know a friend who tried once and he failed big time because it really requires a full-time work amount of effort to become a big influencer. Its not just tweet once or twice a day and follow people and all that, its literally building relationships with everyone, possibly with big communities. First when you start out you need to have a twitter account and join a community and grow there and then share your twitter so they would follow you, after you get some followers you need to keep repeating that, go into communities, grow there, and be friends with people there, and then get more followers from there too. All of these takes time, some of these influencers have been around for 5+ years, that's a ton of work. Sure they make a good amount of income now, but they worked 5+ years to make that money.

[vv181]

if people are more aware of crypto/ bitcoin and all these scams, why they are giving power to these "influencers" to earn more money and scam more people?

Because it is not the people who are aware of cryptocurrencies and their scams that give power to those influencers, it is the masses. People simply just follow those kinds of influencers because of the way they grow the account or their personal brand, and do note that some who partner up with them could simply create a campaign that pleases the masses, for example, free giveaway, freebies, and such kind of things.

So the ones who make a stupid person famous are not the ones who comprehend it.

And despite us having a strong and smart bitcoin community, why can't we win over "influencers" by showing people that they are all fake and lie all the time? We just literally need to who facts to do that.

Some account that was specifically made as scam buster did that, but the rate of those fake influencers are enormous and not all of them are effective. On one hand, there is a people who just can't simply able to protect themselves, no matter what scam scheme they have encountered, with a little twist, they will fall for another one.

[Kelvinid]

And despite us having a strong and smart bitcoin community, why can't we win over "influencers" by showing people that they are all fake and lie all the time? We just literally need to who facts to do that.

My opinion is that these Twitter people are turning the crypto community into a freak show and people treat it less seriously because of that.

The community did the best thing to protect people from falling into scam projects as it was promoted by influencers through awareness and reports. But this is not enough to handle all of them, they are growing and they are getting smarter. Besides, it was not only the responsibility of the forum, but it was also the responsibility of the investors to assess the project that they are investing in. And these influencers never stop as long as they got paid and the developers will never stop as well as long as they still make money from their fake/scam promotions.