The fall of crypto influencers.

[The Cryptovator]

I tend to steer clear of influencers once I realized that their main focus is on their own earnings. Unfortunately, some people who lack discernment and blindly follow these influencers are supporting them. However, these followers tend to not stick around for long. I witnessed this firsthand when a YouTuber had a significant amount of influence a month ago. Their presale videos were filling up quickly, and they charged between 6-10K for a video. However, recently, I noticed that they no longer have the same influence in their presale videos. This indicates that they have lost their blind followers because they promoted subpar projects. In conclusion, it is advisable to avoid following influencers.

[1714668363]

1714668363

[Hyphen(-)]

Just like you have explained, not everybody has the time to keep going from one platform to the other to search for information in order to get informed.

Dedication and hard work require time and attention; anyone who wants to succeed must take the time and conduct adequate research on whatever they want to achieve in order to have the best results possible.

As a cryptocurrency investors or traders, I don't see anything wrong in following influencers or trying to get some pieces of information from them since they are always active and doing research about the market but what we need to do is to be very careful on how we utililize information we get from cryptocurrency influencers. There should be a limit to how we sort for info from cryptocurrency influencers to limit our risks.

Following influencers do make you a lazy researcher;

What can Bitcoin influencers do that you can not also do with solid research about the Bitcoin market and price movement? This forum has always given us enough guidance to aid our Bitcoin investment, so I don't think we need an influencer.

[Finestream]

As long as there are newbies who are motivated by greed, influencers will continue to sway and control their decisions. However, if these newbies will also be given proper education on bitcoin, then the need for crypto influencers will also be extinct and in the end, they will never get any demand from their viewers.

[drwhobox]

As long as there are newbies who are motivated by greed, influencers will continue to sway and control their decisions. However, if these newbies will also be given proper education on bitcoin, then the need for crypto influencers will also be extinct and in the end, they will never get any demand from their viewers.

Newbies and people who are normies keep the bitcoin influencers alive. As long as they give influencers the attention they want influencers will thrive internet. I am not talking about everyone, but most the influencers themselves don't have proper knowledge, they don't know what they talking about. Plus now chatGPT and Ai makes their life more easier. Newbies need proper education first and hunger to learn.

[Captain Corporate]

This is pissing me off more and more everyday. Being an "influencer" should come from the base influence, that is the main reason why it should be used and that should be something either positive or negative but at least have that. Most of the influencers today are people who are marketing people, that's not influencing that is marketing, that is promotion, that is sales, that's a totally different thing. I rather have the Instagram models who promote their clothes and make up and so forth over these people. If you are taking money from projects and promoting them, you are worse than scum to me, you are what makes this world a worse place, you take money to cause others to lose money, that's your exchange? Thats your profession? Shame man, SHAME.

[Davidvictorson]

So what do you think?
Will we finally see the fall of influencers or there still will be enough stupid people to follow their advice?

Gone are the days when people rely on ad look up to crypto influencers like a god or  a compendium of crypto knowledge. I remember the early years of bitcoin how we quick join telegram groups as instructed by these influencers, turned on post notifications on twitter so that we do not miss the latest posts of these influencers because bitcoin was still new and the proliferation of bitcoin and crypto knowledge is not as what we have now. Times have changes now and we have these bitcoin information on our finger tips. We can actually now do our homework and based on whatever we find out, evaluate the information provided by any influencer. We are less reliant on these influencers who weren't necessary bad although we had the bad eggs that tried to scam us.

[Supreemo]

duh hearing those "buy this or you'll miss it" from those influencers are like noises from mosquitos buzzing. i don't know why there are still falling for those kind of cringe words. it was even older than an old school joke to be honest. up until now whenever i opened my twitter account, there are still so many of those kind of people bot excluding on their platform. the reason why i hated those people is because during the last time there was a trend on NFTs there are so many of my fellow citizens who fell for such scams, although it was mostly their fault for trusting the hype, a part of the blame is due to them hyping it, and the worst part is that although i am not that type of person who wants to convince other people to do things they don't want the image of bitcoin and blockchain was tainted because of their schemes and then afterwards they'll just wash their hands like nothing happened.

[BenCodie]

-snip-
There will always be gullible sheep unfortunately. For as long as there are platforms to influence, there will always be people who will be influenced. I do believe that the decline has started and we should all be thankful for that.

Almost all influencer platforms have started to share their knowledge and advice on crypto, but don't take all advice at face value, it's worth researching.
Some dips are necessary, as the market has been strong enough to stay above for a long time.

That's great. If the research has evidence and resources to support their claims, information and advice...that's fine. They should then be called educators, not influencers. Influencers sway their audience into making a decision no matter if the decision they are aiming their audience to take is supported by logic, reason, knowledge or strong supporting evidence or not. Being an influencer is toxic and I hope that those who are actually doing good work start to call themselves educators and unsubscribe from potentially being labelled as an influencer.

[adzino]

It's stupid how some people still trust these so called influencers blindly, right? No one shouldn't be basing their investments on what these influencers say. A lot of them are paid to shill, which means they make bank by promoting projects, and not always with our best interests in mind. Sometimes, they might just be in it for the money, not because they genuinely believe in a project. And let's be real, how many of them are actual experts? Most of them don't even know what they're talking about, and at the end of the day, it's about their own gains, not ours. So yeah, I'm with you on hoping for the fall of influencers. As more people get educated about crypto, it'll hopefully lead to fewer people following these hype machines. But hey, there might always be a handful of dumb people looking for shortcuts through influencers and no matter how much you explain them they won't listen to you.

[ethereumhunter]

As long as there are newbies who are motivated by greed, influencers will continue to sway and control their decisions. However, if these newbies will also be given proper education on bitcoin, then the need for crypto influencers will also be extinct and in the end, they will never get any demand from their viewers.

Greed-motivated beginners will not stop because if the popularity of crypto continues to grow, there will be more greedy newbies eager to get rich. And that's what makes more and more influencers want to spread what they know to attract newbies to join them.

And it's best if beginners don't really follow what influencers say because that won't guarantee beginners will get what influencers get. It is better for beginners to find their own ways to increase their knowledge and the right method to make money from crypto.

[savetheFORUM]

The problem for now is that there are too many naive people who would find it very difficult to say they fell.
Precisely with the increasingly booming crypto conditions, as well as with the many naive people and beginners who enter, this will make them thrive even more, I think.

As long as those people choose the method that they think is the easiest thing to do without the need to study, then indeed the influencers will still be flooded with enthusiasts.

That's definitely true, and to be honest, they manage to do that pretty well, engaging a new audience that is new blood in cryptocurrency and trading in general, they tend to be engaging and are pretty good at influencing their audience about anything they wish for, that is the reason why they are called influencers which is sometimes good and sometimes bad.

We can also find some good and honest influencers out there every now and then, who prefer telling the truth and providing their audience with things that can actually be beneficial for them whether for the present or in the long run.

[wxa7115]

The problem for now is that there are too many naive people who would find it very difficult to say they fell.
Precisely with the increasingly booming crypto conditions, as well as with the many naive people and beginners who enter, this will make them thrive even more, I think.

As long as those people choose the method that they think is the easiest thing to do without the need to study, then indeed the influencers will still be flooded with enthusiasts.

That's definitely true, and to be honest, they manage to do that pretty well, engaging a new audience that is new blood in cryptocurrency and trading in general, they tend to be engaging and are pretty good at influencing their audience about anything they wish for, that is the reason why they are called influencers which is sometimes good and sometimes bad.

We can also find some good and honest influencers out there every now and then, who prefer telling the truth and providing their audience with things that can actually be beneficial for them whether for the present or in the long run.

I suppose there are some influencers out there telling the truth, but they cannot compete against those that are lying, after all when one influencer is giving you common sense advice, like only investing what you can afford to lose, holding your coins and investing in good projects, while those influencers that lie can tell you that if you invest in a shitcoin you will become a millionaire in less than month, who do you think will get more viewers?

The latter will most of the time get more viewers as their words are exactly what people want to hear, and what is even worse is that even when people lose their money by investing in those coins they still keep listening to the same kind of message, as now they hope to recover the money they have lost.

[borovichok]

It's stupid how some people still trust these so called influencers blindly, right? No one shouldn't be basing their investments on what these influencers say. A lot of them are paid to shill, which means they make bank by promoting projects, and not always with our best interests in mind. Sometimes, they might just be in it for the money, not because they genuinely believe in a project. And let's be real, how many of them are actual experts? Most of them don't even know what they're talking about, and at the end of the day, it's about their own gains, not ours. So yeah, I'm with you on hoping for the fall of influencers. As more people get educated about crypto, it'll hopefully lead to fewer people following these hype machines. But hey, there might always be a handful of dumb people looking for shortcuts through influencers and no matter how much you explain them they won't listen to you.

The majority of the projects in the area have turned out to be scams, particularly in cases the moderators just have their own interests in mind. Every day, investors lose money as a result of poor investment due diligence. Not all cryptocurrency influencers are reliable; there are several in the industry who have misread the market and harmed traders' ability to trade. New traders, in particular, concentrate heavily on the information they learn from influencers, however some don't always succeed. You must only have faith in yourself and your trading strategy if you want to succeed in the market.

[tiCeR]

I think in the next few years, influencers can lose their "influence" over uneducated people because they're gonna be fewer and fewer of these people on the internet.

I'd be curious to know who the big crypto influencers are we're talking about (and I fucking hate that word, but I'm going to use it anyway) and through what platform(s) they're spreading their charismatic, bought-and-paid-for advice.  I'm assuming it's mostly Youtube?

As to the above snippet, I would hope that'd be the case but I'm pessimistic about the masses losing interest in peddlers of hype.  I mean the information is all out there as far as what bitcoin is about, and yet a lot of people just want to watch videos with clickbait thumbnails and they never get past that stage.

There are two Youtube "influencers" I detest in particular--and mind you, I'm not that familiar with who the most popular are because I rarely watch videos about crypto. 

The first is bitboycrypto (I think that's his tag).  I've seen other Youtubers play clips of his videos, and it's goddamn obvious he's the crypto equivalent of Jim Cramer, but probably much worse in the obviousness of his bullshit.

The second is Voskcoin, though last I knew he was primarily focused on mining.  His smugness and general presentation is just repulsive to me, and he--like most other big GPU mining channels--is probably a Youtuber first and foremost and a miner as a secondary passion.

TL;DR:  Fuck 'em all.

I am also very pessimistic that the number of peddlers of hype is going to decrease, but not because less real people decide to become influencers and advertise scams, but because of artificial intelligence. I have recently seen a compilation where some people were confronted with AI characters that were built based on some people they followed on Instagram and Youtube. The experiment was that the AI avatar looking like their influencer idol talked some nonsense. Afterwards they were observed whether they spread that nonsense themselves via sharing or starting a discussion about it and they did, without actually verifying with their instagram influencer idol whether that has really been said by him or her. That was interesting. It is unbelievable how lazy people are and how naive to believe things without even putting in the tiniest amount of effort to verify it. There will be bot armies advertising scam coins. The victims will be those who always bought into white papers back in the years when the ICO wave was flooding the crypto space.

[gunhell16]

We know that the influencers who have a lot of followers are somehow blessed and get income from that career, just like on YouTube, Facebook, and Twitter, including Instagram.

If there are crypto influencers, their only goal is to get views if they are on the youtube platform, even if it makes no sense and they only pretend to know but the truth is that they really know very little, that's how there are people like them. So it is still different for us to start doing "Do your own research".

[bittraffic]

As crypto gets adopted though, more and more of them are uploading their content. They are also motivated to make money for themselves. The other newbies who just learned how they make money are going to be interested to also do what the influencers do.

I see a lot of new crypto channels actually almost every day in my feed are new channels I have not visited before. If it becomes easier to be one of those influencers because of AI, don't be surprised they will grow in numbers.

Do you think they are a threat to campaigners in bitcointalk?

[Accardo]

A good number of cryptocurrency influencers on YouTube are doing a great job, despite shilling shady projects using their platforms, they also pass down relevant news and information to their followers. People who don't know much about crypto will always become victims of these shaddy projects that the YouTubers Share on their channel, which is wrong to the cryptocurrency community. YouTubers like bitboy, last year, on his tiktok once made a prediction of the price of Bitcoin but it didn't happen rather the price of bitcoin dropped. Those who abided to his advise got disappointed and lost money too as they invested immediately after his Bitcoin bullish prediction. When investors fail to research, influencers takes the blame.

[Wiwo]

To me basically, Bitcoin is an institution and academy that require a lot of knowledge and education in order not to get misled by any influencer or other media personality, what happens to do your research (DYO)? This has been the ultimate drive of many Bitcoin investors.

Without knowledge, it is almost impossible to make any accurate financial decision, and don't depend on any influencers in fact I don't watch any of them. that youtube videos because those making them are getting paid to do so, we can't trust their judgment or follow their advice on Bitcoin since most of them lack the technical knowledge to analyze the market.

[Furious 7]

The problem for now is that there are too many naive people who would find it very difficult to say they fell.
Precisely with the increasingly booming crypto conditions, as well as with the many naive people and beginners who enter, this will make them thrive even more, I think.

As long as those people choose the method that they think is the easiest thing to do without the need to study, then indeed the influencers will still be flooded with enthusiasts.

That's definitely true, and to be honest, they manage to do that pretty well, engaging a new audience that is new blood in cryptocurrency and trading in general, they tend to be engaging and are pretty good at influencing their audience about anything they wish for, that is the reason why they are called influencers which is sometimes good and sometimes bad.

We can also find some good and honest influencers out there every now and then, who prefer telling the truth and providing their audience with things that can actually be beneficial for them whether for the present or in the long run.

Well for this it is like basic science because of course when talking about Influencers it would be very stupid to say they are influencers but can't convince their audience.
In this case, when talking about beginners who enter and with their sweet words, it will clearly benefit them because I personally have been in a position of ignorance and when an invitation whose promises and words are convincing enough, anyone will be tempted there.

Even though what you say is true by saying that there are some good influencers, the comparison is far away because it is clear that the average of them only hopes for personal gain.

[dezoel]

I do believe that they fall down hard during this bear run because most of them showed their hand, that's the main reason. During the bull run period they shared stuff with promotion so they made some money but at the end of the day investors mostly made money too, if they failed here and there, they made it back with others and that was their "in", they convinced people that way.

But, during the bear market they kept doing the same thing and the result was much worse, people did not trust them and saw that they just got money from promotions and sold them out. Which is why there are a ton of influencers who are no longer influencers and they became aggressive about it as well and caused a ton of trouble as well.