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40 Truths About the Cryptocurrency Field! Let the OGs of the industry share their experiences from the past four years with you.

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40 Truths About the Cryptocurrency Field! Let the OGs of the industry share their experiences from the past four years with you.

The marketing director of Dogecoin shared 40 truths about the crypto world on Twitter yesterday, extracted from his observations and experiences in the community over the past four years. While not absolutely accurate, they are worth pondering over.

1. Most People Are Just Gambling

95% of market participants have never seen a whitepaper.

We're just aping in because someone we trust told us to, and then praying for it to go up.

2. Tech Takes a Backseat to Making Money

90% of market participants can't explain how blockchain works; all they care about is money, and maybe decentralization.

3. Mass Adoption is Unpredictable

Bitcoin and Ethereum extremists are equally sycophantic and short-sighted.

Mass adoption will happen in ways we can't predict; network effects will kick in without us realizing.

4. DeFi Mostly Scams

Most DeFi projects are unsustainable Ponzi schemes; those adept at DeFi protocols just treat it like a game.

5. Keep an Eye on NFTs

NFTs are the future, driving more crypto adoption than currencies.

6. Decentralization Isn't Real

A fully decentralized future is impossible.

Many things touted as decentralized are not truly so; for some reason, we just trust those in the crypto space more than outsiders.

7. Ethereum Isn't That Scary

The biggest threat to Bitcoin isn't Ethereum, but Monero and Dogecoin.

8. Privacy Settings Have Issues

The most dystopian coin currently is Zcash ZEC; the ability to toggle privacy settings is why the world is so corrupt today.

9. CZ is Kinder Than You Think

CZ Zhao has done a lot of good for the space but hasn't received due credit.

I believe he's working harder than almost all other exchange owners to contribute to the decentralized future.

10. RuneScape's Legacy Deserves Appreciation

The closest thing we had to the metaverse was RuneScape.

All current games should study RuneScape and consider it the bible of play-to-earn.

11. VCs Benefit Most from Seed Rounds

The advantages of entering seed investment rounds have completely changed crypto Twitter.

The community can no longer be the same as before. The OGs now are those VC institutions, so get used to it.

12. VCs Power the Bear Market

Entering seed investment rounds will more severely damage people's interests than the secondary market. This will be the ultimate driving force behind the bear market for years to come.

13. Angel Investors Aren't Loyal

Most angel investors are parasites.

Every dollar given to spray-and-pray angel investors could have gone to loyal community members.

14. Public Figures Care About Investment Opportunities

Your favorite podcast hosts, live streamers, and Twitter personalities are using these platforms to increase their value to enter more seed investment rounds.

While it may seem like they're not sponsored, these hosts also get investment shares in the projects they promote as guests.

15. VCs Are Just in It for the Money

Most "respected" VCs in this space only tweet about the projects they've invested in seed rounds.

But somehow, they're not seen as money grabbers like other KOLs, maybe because they use complex jargon to make their recommendations look less like Ponzi schemes.

16. Everyone Can Be a KOL

There's no distinction between VCs and KOLs now.

But this isn't necessarily a bad thing; now everyone in the community has the opportunity to reach the status of a KOL or VC.

17. Good Deeds Pay Off

While large funds can be detestable, without them funding so many projects when no one else would, we wouldn't have seen the massive explosion in the crypto ecosystem over the past 2 years. Yes, they rug you, but you also profit from some good projects.

18. Mindset Requires Constant Adjustment

Making money in the crypto world isn't easy; if you think it is, then it might be time to take profits. You may want to revert to the mindset that making money in crypto isn't too difficult, but that's hard to do.

19. Infinite Potential in the Crypto Industry

We're still in the very early stages. The crypto industry has unlimited room for development.

Decentralization is a competitive advantage that will incentivize everyone on this planet to participate.

20. Bearishness is a Cowardly Attitude

Being bullish is always easier than being bearish at any time. Being bullish takes courage, while those bearish are cowards.

Calling yourself bearish may sound smarter than being bullish. This is why most people tend to be more pessimistic in all aspects of life.

21. Crypto Twitter Isn't Really Helping You

You might not have learned anything on Crypto Twitter; you're just seeking posts to validate your own ideas and satisfy your vanity.

Most reliable alphas appear in the form of junk posts; it takes extreme autism to understand them.

22. Algorithmic Stablecoins Have Enormous Potential

UST isn't a Ponzi scheme; while its high APY may not be sustainable, it doesn't mean it will collapse when APY is lowered.

Algorithmic stablecoins are the future; UST will be seen as the Bitcoin of stablecoins.

23. It's This Circle's Fault

Justin Sun is a genius; instead of hating him, it's better to hate the game. He clearly excels in many aspects compared to you.

24. Yuga Labs To the Moon

We all missed Bored Ape Yacht Club; Yuga Labs will be more powerful than Opensea in the future.

25. Invest According to Trends

Trying to short tokens with the strongest uptrends in a macro downtrend is as foolish as going long on tokens with the weakest trends in a macro uptrend.

Don't try to be a hero; making money is more important than doing the right thing.

26. GlassNode Can't Help You Make Money

GlassNode is one of the worst things on Crypto Twitter.

On-chain analysis is easily manipulated; the only alpha in those charts is increasing your chances of being hacked.

27. Utilize Nansen to Find Alpha

Nansen is one of the most valuable tools in the crypto space.

Find out who knows what they're doing and is making money in their wallets; follow these wallets instead of trusting your favorite KOLs. That's real alpha.

28. Most KOLs Aren't Worth Following

At least 80% of KOLs are worse at trading than the average person in the community. But it takes following them for over a year to know if they're there because of intelligence, luck, or catching an opportunity.

29. Narrative Is Your Money-Making Ability

When an article lacking credibility is considered highly valuable due to accurate postdictions, that's the best way to judge if the author has skill.

Playing with words is an art; those who tell good stories are dominating the crypto world.

30. Most KOLs Make Money from Investing, Not Trading

Most influencers make money through investing rather than trading.

They get involved and maintain their investment process at all costs, protecting and growing their Twitter accounts.

31. Some of the Smartest People Are on Crypto Twitter

They're highly autistic; they tweet to vent, so follow their tweets.

32. The More Precise, the More Cautious Needed

If you think some people have never made a wrong prediction or analysis, it's because they intentionally obscure and mislead. Don't trust these people.

33. Accurate Predictors

Some people actually predict correctly most of the time, so they seem crazy.

It makes me think of gcr, hsaka, ansem, CL, HA, and loom.

34. Build Your Own Trading System

People like Nika, krillin, Pierre have a lot of knowledge about moving averages (MA) that can help you build your trading system.

They reveal too much alpha, mostly from Nika, whose influence on moving averages is greater than commonly understood.

35. Crypto Bigshots Aren't Playing Mind Games with You

Zhu Su of Three Arrows Capital, Arthur Hayes of BitMEX, Barry Silbert of Grayscale Investments provide meaningful insights, not psychological warfare. They've harmed you more times than they've helped.

That's human nature.

36. Minimalistic Technical Analysis

In technical analysis, less is more; maintain simple yet slightly complex charts.

SM17's technical analysis is based on the simplest charts; most of you should try to be like him.

37. Non-Technical Analysis Is Acceptable

Becoming a great trader doesn't require technical analysis.

It requires more introspection and understanding what other market participants are thinking.

If all potential buyers are bullish, they've already bought, and no one else will buy.

38. Avoid Leverage

Leverage is the best way to lose everything.

The investment game in the crypto market is either easy mode or hard mode; there's no in-between.

Your goal is to survive in hard mode to enjoy easy mode. Using leverage in hard mode will guarantee you lose everything.

39. Diversification is Mostly a Myth

Holding 20 different shitcoins isn't much different from holding 3; stick to your convictions and fortify your holdings.

40. All In Ethereum, Dogecoin

Most of you are better off going all in on Ethereum or Dogecoin, then going into a coma, meaning buy and forget it.

No analysis post on Twitter will teach you how to control your greed.

You have to learn it yourself.

Conclusion

Thank you for watching; I love you šŸ’œ