Crypto: The Herd, the Hype, and the Merchants of Illusions
Let’s face the truth as it is, without sugarcoating or empty pleasantries.
In this market, opportunities are not equal, and not everyone plays by the same rules. Some players have enormous capital, far-reaching influence, and the ability to move liquidity and shape the narratives that the public follows. Meanwhile, thousands rush after those narratives, buying when they are pushed to buy and selling when their decisions serve the interests of those who know how to exploit fear and greed.
What’s even more laughable is that some participants turn into free promoters for millionaires and billionaires. They promote their names, amplify their statements, and treat every word they utter as if it were a revelation from the world of finance. No one asked them to do it, and no one hired them, yet they volunteer to polish the image of people who already have money and influence—as if these people desperately needed their recognition or approval, or as if they worshipped them.
What an irony! People enter the market in search of financial independence, only to willingly give up their intellectual independence.
On the other hand, there are emerging projects genuinely trying to build something valuable. They have a vision and are working to develop their technology and build real products, step by step, instead of relying on famous names and media hype. Yet they find themselves struggling to capture even a few moments of the public’s attention, while many in that very audience remain indifferent until the whales move or a celebrity gives the project a stamp of popularity and approval.
The problem isn’t that a project becomes famous, or that an influential figure succeeds. The problem begins when a famous name becomes a substitute for research, popularity is confused with value, and wealth is treated as proof of wisdom—as if having millions made someone immune to error.
Based on my observations and study of the behavior of crypto communities across their various categories and orientations, I’ll say it plainly: deception, hypocrisy, dishonesty, double standards, and manufactured enthusiasm have become prominent features of large parts of this market.
Some people sing the praises of decentralization, then fall in line behind influential figures. They celebrate independent thinking while repeating other people’s words verbatim. They claim to support promising projects, yet refuse to give them any real attention until celebrities start talking about them. And when their interests conflict with the principles they publicly proclaim, those principles suddenly disappear, revealing their true faces.
Then there’s another phenomenon that’s just as laughable: posts full of wishful thinking presented as news, and speculation wrapped up as if it were confirmed fact.
Someone makes up a purely imaginary scenario or picks up an unverified rumor, then presents it in a way that suggests they’ve uncovered a dangerous secret or found some exceptional information before anyone else. The truth is, they have no evidence, no verifiable source, and no factual basis for their claims.
Sometimes, they simply want to convince themselves first that they’ve come up with something new, then convince others that they have information no one else knows. And so a dream becomes news, a wish becomes a prediction, and a lie becomes a way to attract attention and rack up engagement.
Not everything written about the future is analysis, and not everyone who claims to have information actually has it. Some people don’t report what’s happening; they write about what they hope will happen, then try to convince others that their wishes are facts about to come true at any moment.
In this market, the problem may not be that the big players are playing their game. The real problem is that many smaller participants volunteer to play it for free, then proudly convince themselves that they’re part of the scene.
So if you decide to play this game, get rid of your naivety before you lose your money.
Don’t idolize names. Don’t be dazzled by account balances. Don’t confuse noise with power, or a large following with genuine understanding. Don’t let your enthusiasm for a project undermine your ability to criticize it, and don’t let your dislike of another project stop you from acknowledging its possible strengths.
Most importantly, pay attention to what you post; your posts aren’t just words—they reveal how you think, how deeply you understand what you’re talking about, and whether you can distinguish fact from publicity.
You are not required to be an expert in everything. But speaking confidently about topics you haven’t researched, repeating claims you can’t defend, or turning your account into a platform for echoing other people’s opinions without the slightest scrutiny is pointless nonsense.
No one is forcing you to agree with me. But if you insist on playing this game, don’t approach it like a member of the herd, and don’t let your words and posts reveal that you understand what’s going on less than anyone else while acting as if you’ve uncovered the market’s deepest secrets.
Remember: in a market where powerful players can exploit the public’s ignorance and emotions, independent thinking isn’t a luxury—it’s your first line of defense.
Research before you believe. Analyze before you promote. Think before you follow. And don’t hand control of your mind to anyone just because they have more money than you.
If you can’t compete with the big players in terms of capital, don’t give them an extra advantage by surrendering your mind to them.
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