Investing is a process that many don't take seriously and take financial advice from Twitter, Reddit, and, worse of all, YouTube.
It needs time and research, yet, most of the current retail and part of the institutional investors are just pouring money to crypto, while having performed poor research.
A much better approach is to select those cryptocurrencies that have a working product, a sustainable vision for mass adoption, and long-term potential in the digital economy.
Bitcoin Cash has this vision and produces results, while many other networks currently above it in the “crypto-rankings” are either centralized or just over-hyped unfinished networks.
Bitcoin Cash is the best bet any investor can take today, and it is encouraging to see a large part of the broader cryptocurrency community is finally waking up and decides to get on board.
Victory is decided in the long run.
The sustainable growth of a cryptocurrency is defined by a list of features and developments that can withstand the test of time.
The Crypto-YouTubers Menace
Crypto-YouTuber is a temporary job for some but one that enriches some of the most popular, like The Moon Carl and Ivan On Tech.
Usually, these guys will just follow the trend and get paid to present and support (shill) projects. Sadly they will not mention which part of their content is sponsored, either.
The influence of the “opinion” of Crypto YouTubers is a serious threat to our investment. Even if these YouTubers are not day-traders but supposedly analysts of the crypto market, their advice is always to be taken with a pinch of salt.
As previously mentioned, the vast majority of traders are not performing great.
I am not sure if some of the popular crypto-trader are getting paid by whales or exchanges to shill the top and turn bearish right at the bottom, but usually, this is what they do. The question we should ask when following the advice of YouTube traders is why any trader would turn to YouTube if they are so successful at trading?
Do not expect to find a treasure if you follow the same path a million others did.
Pave your way against the mainstream and follow the path nobody else visits. This is where the best opportunities are located.
(Made using Imgflip)
I don't mean the trend is not an indicator, but short-term trading is speculation that leads to losses. Recognizing the short-term trends is more like gambling, so no, it is not wise to day-trade unless you have proven track of profit throughout many years.
It is the same with everything crypto and in real life. The narratives, the promotional catchphrases, marketing, the communities, etc.
A popular chart in the BTC maxi circles is the stock-to-flow model, made by an anonymous trader. The S2F model, though, is flawed by design (or by copyright infringement), but this is beyond the scope of this article. I just had to mention it, since it has some relevancy.
Demand matters as equal as supply. Mass adoption is unreachable for BTC today since under Bitcoin Core the message was clear. BTC would not scale, but Blockstream (a for-profit private company) would develop second-layer solutions.
After enough time (and research), we learn better how everything works. We stop just replicating words and narratives but think for ourselves and verify.
There is no need to become a developer to invest. No investor can read the code and understand it completely. Even an audit for a smart contract needs a long time of consideration and conversation with the devs to understand exactly the intentions. Just reading the code alone can reach to wrong conclusions.
After enough time, we have certain expectations from cryptocurrencies, and we don't just contain them by always comparing in fiat valuation. The risk is always there, maybe what looks like an amazing project failed for reasons we don't understand. It could be inside issues and fighting between different sides, it could be the decision-making process was flawed, inability to handle centralization issues, etc. It is not easy to know what is going on in the community either. Bitcoin Cash for example suffered two splits with part of its community moving to BSV and ABC.
These two splits caused damage to Bitcoin Cash, but the remaining community seems to be more focused and better positioning Bitcoin Cash, with no personal agenda pursued.
In Conclusion
In 2017, YouTubers and many of the popular crypto-influencers were confused with the excitement surrounding the Bitcoin Cash community, so they remained on the sidelines, not taking sides until the dust settled.
The outcome was not clear immediately and those with a better understanding of Bitcoin, knew the BCH side was more convincing since it was the one that wanted Bitcoin to reach mass adoption.
Eventually, they followed the trend and today are not discussing Bitcoin Cash at all since there will always be conflicts and extreme toxicity from the BTC any time side one of them mentions Bitcoin Cash. It has become a hobby for some of these BTC holders and react aggressively on purpose. The toxicity of the BTC community is obvious whenever a Bitcoin Cash discussion opens by any popular or not cryptocurrency advocate.
They are lacking in crypto education to know better. Attacks are always aggressive and toxic against anyone doing research and asking questions on the validity of the maximalists’ claims. This is how the whole BTC cult has been organized ever since the Blockstream infiltration days.
Sadly, Crypto YouTubers are sell-outs at an upsetting rate. Probably getting paid by BTC maximalists to avoid mentioning Bitcoin Cash or any of the amazing new developments, such as SmartBCH.
It does not matter to them if Bitcoin Cash has a state-of-the-art network, developments, and an increasing userbase. They just disregard Bitcoin Cash as they are not allowed to discuss it. Some of them may talk about it for a while, (and have done so under a certain financial arrangement), yet, they ignore it, later on, having in mind that if any kind of change in the overall sentiment appears, they will be able to quickly change sides.
In gambling terms, the popular YouTubers are always -EV to our investments but sometimes contain great entertainment value.
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Bitcoin is the upcoming development in the world hope that it will be replacing the cash soon