The fall of crypto influencers.

[serjent05]

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?

Nope, we won't be seeing the fall of influencers anytime soon and I think it will continue to exist.  We all know that in human nature, anyone with the same belief flocks together thus influencers take advantage of this.  We might see influencers who are more reasonable and logical to keep on accumulating followers but influencers who just live through non-sense hype will be kicked out of circulation. 

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.

Regardless of the crypto season, influencers will stay not because these people are needed but because of the human nature of grouping of people with the same belief and influencers know and exploit that.

[alastantiger]

It will be hard in a very long time for crypto influencer to fall because there are lot of inactive and idle individuals who fully depend and are ever ready to dance to the tune of the influencers.
And these influencer having seen the weakness of the the followers has a way of manipulating them. Uneducated crypto's and Bitcoiner's will always be there.
Therefore, in this regard, it will be so difficult for crypto influencers to fall.

[uneng]

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?

I don't think we are going to get rid of influencers anytime soon. People have a constant need of idolizing someone they consider from an above status. In crypto industry it's more evident regards Elon Musk. Everything this guy does creates a new hype on the market. Last time it was a DOGE logo added to Twitter which boosted DOGE's price considerably, although many investors lost money after all, because they entered on hype on the last minute.

While people maintains this kind of behavior, money is going to be lost and influencers are going to have their pockets and egos feeded by a mass of blind idolaters. Not only that, but seems within time influencers' quality is worsening. At least by some decades ago we had some nice talented influencers, celebrities raised by the media, when compared to the nowadays' influencers...

[BVeyron]

I made a post about crypto influencers not that long ago talking about how people still trust them despite all the cringe and stupid stuff they post.
In the the last post, after reading your comments, I came to conclusion that most of the people who follow crypto influencers are:
1) Normies (or lazy people who don't want to do research and want to follow trend)
2) Bots
3) Bitcoin uneducated people

I think the third category is the most interesting one because I don't know how long it will exist considering what is happening with Bitcoin right now.
We can see that there are more and more programs about Bitcoin awareness and crypto education. More people are getting interested in what bitcoin/crypto actually is. And one of the signs of Bitcoin adoption is the promotion of Bitcoin education.

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. And I don't think that bots and normies are sustainable audiences so I think influencers will see a hard time soon.

And overall, bitcoin education will decrease people's need for influencers simply because they will already have all the knowledge needed and all these Twitter posts about "PUMP IS COMING" will sound pretty stupid. And you shouldn't be the most educated person to see it. And it's pretty obvious that all these Twitter people post specifically for people who don't have a good knowledge about crypto because most of these posts are just basics and hype.

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?

IMHO most of the influencers are concerned on their own income, so those who somehow connect their accounts with crypto are not cryptoprofessionals (there is no even such term actually, since technicians are one side of a crypto-dice, coders are the second, traders are the third, crypto-lawyers are one more and so on, there are many fields within the industry...). Influencers who have blogs with information about crypto usually stay within this topic because it's trendy, their marketing advisors work on creating profitable posts and on raising the overall number of subscribers, since blogging platforms and/or ad placing companies pay some sums. They earn with crypto in this way, just like all the other "sides of a crypto-dice".

[tiCeR]

One of the biggest problems in the industry is that there is zero liability and no obligation for influencers to do due diligence on the products and services they advertise. As long as they publicly state that its advertisement, that they produce content for a product or service in exchange for a payment, they are good to go. Of course it can't be anything that is illegal per se, but advertising casinos has become a huge thing. I have read an article a while ago about the amounts of money that companies like Stake.com pay to influencers for pushing their brand. It is inconceivable. For just a few posts or repeatedly mentioning the gambling websites, six figures is the absolute minimum. But if they decide to take the advertisement on a Twitch stream (although this is prohibited in some places), you immediately talk about millions of dollars when the follower count is a million or more. But how immoral is that? Many of them built their follower count due to talking as if they had values, were a person that is worth following and bla bla. But when the right offer comes, many of them pull the mask off their face themselves.

[Viscore]

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.

I guess that’s the reason why a lot of crypto influencers have risen right now seeing a lot of newbies are now trying to invest in crypto without even making some DYOR or preparation study before they invest. That’s why they can’t blame theirselves if they always lose in crypto because they enter the market the wrong way. And when these newbies start to lose and learn, then there’s another batch of naive newbies who will enter the market again,  thus retaining the demand of those unreliable crypto influencers.

[Gyfts]

One of the biggest problems in the industry is that there is zero liability and no obligation for influencers to do due diligence on the products and services they advertise. As long as they publicly state that its advertisement, that they produce content for a product or service in exchange for a payment, they are good to go. Of course it can't be anything that is illegal per se, but advertising casinos has become a huge thing. I have read an article a while ago about the amounts of money that companies like Stake.com pay to influencers for pushing their brand. It is inconceivable. For just a few posts or repeatedly mentioning the gambling websites, six figures is the absolute minimum. But if they decide to take the advertisement on a Twitch stream (although this is prohibited in some places), you immediately talk about millions of dollars when the follower count is a million or more. But how immoral is that? Many of them built their follower count due to talking as if they had values, were a person that is worth following and bla bla. But when the right offer comes, many of them pull the mask off their face themselves.

The problem with casino influencers is the ambiguity in their how the sponsorships work. They'll purport to the viewer that there's a sponsorship involved and the bankroll they play with are provided by the casino, and the losses aren't actually realized even if they torch their bankroll. Some portion of crypto "influencers" are just shills that won't even disclose their financial conflict of interest. Not even the sponsored casino content producers will do this. The other division of this space are the moronic celebrities that know nothing about crypto but will gladly take a check from random crypto enterprises and will become their cheerleaders. How can we forget the FTX "influencers" who seemingly had nothing to say when it collapsed?

[hannahB4]

I don't think there is anything wrong in influencing crypto, the only issue I will have with that is if what they preach is wrong so I won't even think anybody should fall for that because is a stream of income to them.

[Sanitough]

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.

I guess it’s obvious that crypto influencers only become in demand and profitable when the market is bullish or near to its being bullish, but when the market is bearish, everyone do not care about influencers but focus on their own analysis not to get discouraged about the low price and decide to sell. That’s the reason why crypto influencers become rampant during bullish season, because people will follow them easily unlike when the market is bearish, they find it hard and difficult to convince people to invest.

[Quidat]

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.

I guess it’s obvious that crypto influencers only become in demand and profitable when the market is bullish or near to its being bullish, but when the market is bearish, everyone do not care about influencers but focus on their own analysis not to get discouraged about the low price and decide to sell. That’s the reason why crypto influencers become rampant during bullish season, because people will follow them easily unlike when the market is bearish, they find it hard and difficult to convince people to invest.

People wont really care at all because the entire space had been isolated by fear and anxiety and doubt which we dont really mind off on what these influencers would really be saying. Its true that these fellas would really just came out from the hole or would really be that rampant on the time that there would be some bullish sentiment which is something that very common concept or happening around.
We cant really say that this is their downfall but rather these are just normal things since we know that trends could change up upside down which means that
we could neither be that seeing these people or not on a particular market condition.

[suzanne5223]

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?

I don't think we will see the fall of influencers if this is going to happen some investors won't have to accumulate Dogecoin when Elon Musk add the coin logo to Twitter although their influencing power may reduce.

I don't think there is anything wrong in influencing crypto, the only issue I will have with that is if what they preach is wrong so I won't even think anybody should fall for that because is a stream of income to them.

To your own understanding, all the crypto influencers are doing the right thing?
I believe you don't understand that all the crypto influencers are guilty of promoting pump-and-dump crypto just like how most exchanges in 2017 were all guilty of fake trading volume.
The influencer abusing their power is the reason why the US SEC is penalizing some of them lately.

[Bushdark]

I don't see anything like fall of crypto influencers since many crypto projects still make use of them to promote there tokens so that more investors can come and Invest in it. We need to know what we are doing or else we might end up going for the wrong projects because of the consistent promotion of those projects. I have taken my time to checkout many influencers and see if they can try as much to limit the numbers of promotions they are doing to.limited the possibility of innocent investors being scammed of there hard earned money.

[tiCeR]

One of the biggest problems in the industry is that there is zero liability and no obligation for influencers to do due diligence on the products and services they advertise. As long as they publicly state that its advertisement, that they produce content for a product or service in exchange for a payment, they are good to go. Of course it can't be anything that is illegal per se, but advertising casinos has become a huge thing. I have read an article a while ago about the amounts of money that companies like Stake.com pay to influencers for pushing their brand. It is inconceivable. For just a few posts or repeatedly mentioning the gambling websites, six figures is the absolute minimum. But if they decide to take the advertisement on a Twitch stream (although this is prohibited in some places), you immediately talk about millions of dollars when the follower count is a million or more. But how immoral is that? Many of them built their follower count due to talking as if they had values, were a person that is worth following and bla bla. But when the right offer comes, many of them pull the mask off their face themselves.

The problem with casino influencers is the ambiguity in their how the sponsorships work. They'll purport to the viewer that there's a sponsorship involved and the bankroll they play with are provided by the casino, and the losses aren't actually realized even if they torch their bankroll. Some portion of crypto "influencers" are just shills that won't even disclose their financial conflict of interest. Not even the sponsored casino content producers will do this. The other division of this space are the moronic celebrities that know nothing about crypto but will gladly take a check from random crypto enterprises and will become their cheerleaders. How can we forget the FTX "influencers" who seemingly had nothing to say when it collapsed?

Right, the sponsored gambling on a stream makes it even worse. Nobody even knows whether that session of a streamer is rigged anyway right when he is on stream. You can do a lot of things with software in the background. It really is a mess and I can tell you that young people fall for it. These streams are running up and down on Twitch and then get uploaded to Youtube. Little boys and girls see that stuff. I got already asked from a little boy from my family whether that is a great way to earn money, not joking! Only 10 years of age and he told me that this one Youtube always makes money... It's the plague.

The FTX influencers yes, and some of them are getting sued now I believe. Not sure if I am confusing it but there is a class action going on I beliebe for a billion USD, but it probably won't be successful as has already been stated because the influencers aren't to blame as they are not a part of the company, but only a contractor and hence can't due the due diligence that some people now accuse them of having neglected.

Or the good old John McAfee, even he shilled ICO white paper coins. It's easy business. But honestly when Kim Kardashian starts shilling a coin, everyone buying it must be suffering from zero brain waves.

[dothebeats]

There are tons of people that are still lazy and would probably rely all the explanation and knowledge from other people rather than do it themselves. We've grown into the age where knowledge is readily available but people will still avoid self-research/study. Influencers will still be there, mainly for the shilling of coins and pumps and dumps. They would be less useful on disseminating actual useful information, but they would be helpful in spreading info on pumps and dumps for sure.

[xSkylarx]

Every time I see an influencer online who is not known in the crypto world, on their first sentence, I laugh at them because they are trying hard. For sure, they are just saying it because they are paid, and also, those comments on their videos were alarming because a lot of people would jump into it, but right now people are mostly aware and those influences are mostly getting bashed, and unlike before, when it was rampant in social media, right now it is only a few of them.

[BALIK]

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.

It can be said that many people take it as a livelihood, so I don't think they will break down anytime soon and stop doing it. Moreover, the market always has newcomers every day, and newbies tend to look to others for support, so influencers will always have a way to survive. In my area, influencers are still active on a daily basis, although the hype has died down as we are still in the bear season. But every time the market recovers, bitcoin goes up in price, and they appear more and more, I never see them disappear.

[royalfestus]

According to a recent study, it has been found that over one-third of influencers on TikTok, a popular social media platform, are sharing videos containing misleading information about Bitcoin and other cryptocurrencies. This alarming trend has raised concerns about the potential impact of misinformation on the general public, especially young and impressionable audiences who frequent TikTok.
Source: https://www.cryptopolitan.com/30-of-crypto-videos-on-tiktok-mislead/

[demonica]

To be fair though, there's probably a lot of influencers out there that's really passionate about crypto and will give you what you need, not what you want because boxing them all in 3 categories seems kind of indicative that you're quite quick to judge someone. I don't think there's going to be a fall for influencers because when the market rallies to green, guaranteed that they're going to sprout out of nowhere preaching about the market and shill their tokens.

I agree. Not all influencers are like that. Maybe other people consider them as "influencers" but for me, those who really are passionate to give knowledge without taking advantage of using their followers are the real influencers because they can influence others in the space.

Also, other so-called influencers may lose their hype but new ones will emerge so we really can't say that crypto influencers in general will fall. I'm not saying I follow these influencers but there are always people who will.

[Etranger]

I don't think there is anything wrong in influencing crypto, the only issue I will have with that is if what they preach is wrong so I won't even think anybody should fall for that because is a stream of income to them.

I think this is what most people see as a problem and one of the reasons for their downfall. Experienced traders are already familiar with how such influence and recommendations work, but beginners are not always aware of this, so they often become victims of such dishonest influencers.

[benalexis12]

You know in truth there are still other influencers who teach correctly in crypto trading according to my observation, and here in our local there are other influencers who teach a simple tutorial about trading.
Although I also don't deny that most people don't really detail what the right steps should be taken by a trader in the crypto space.