How to spot a FUDDER in the Cryptocurrency Space?
Being an influencer carries more responsibility now than ever before. With audiences in the millions, each influencer, irrespective of industry or genre, must provide accurate information to the best of their abilities. More and more influencers with hidden intentions are beginning to gain prominence. Their motivation does not necessarily come from a place of passion, rather is rooted in profit maximization for themselves. There are various ways an influencer can sway their audiences in a way that allows for their own maximum benefit. Luckily, the Direwolf community is more than aware of such influencers and how to spot their red flags.
Direwolf aims to provide transparent education and honest information for all. The recently coined term ‘FUD’ is used as an acronym for ‘fear, uncertainty, and doubt’. ‘FUDDERS’ are those who actively participate in the propagation of fear uncertainty and doubt. Many fudders often go unnoticed across different niches, it an utmost priority for us to help our community identify fudders in order to curb the spread of falsified information at the source.
The following information is in no way a direct attack on any online personalities or influencers, rather provides a breakdown of potential actions and intentions that may indicate ulterior motivations. The information provided may hold true for influencers on different platforms such as Facebook, Instagram, Twitter, YouTube and more.
The first red flag is persistent discrepancies between the number of people subscribed to/following an influence, and the number of people actively interacting with their content. An example of this may be a YouTuber with 25,000+ subscribes who averages 125 views per video. This indicates that their following has either dramatically dropped off after a rise in popularity, or that they have not organically grown a following. A common practice among aspiring influencers is to buy followers or subscribers from various online services. This means that even though a YouTuber may present themselves as authentic and popular within their niche, their statistics may be hiding deeper deceptive behaviors presenting a facade to their audience.
The second red flag to be discussed is significantly harder to accurately identify. Many influencers often provide lucrative charts to show off their progress, and then market their ‘trading groups’ to their audience, promising them the same level of returns of as them. These people usually do not possess any credentials in financial advisory, yet still claim to provide incredible investment opportunities for everyone who joins their group! If you find an influencer who talks about all kinds of different problems and themes, only to link them to their trading group at the end of it all, it would be appropriate if you decided against following their content. This is because their primary motivation is not to provide accurate information to their audience; rather their primary motivation is maximizing the number of people in their trading group. This means that they are prepared to use emotional appeals to draw people towards their group.
Another type of fudder is someone who simply discards new information on upcoming tokens because those tokens are not Bitcoin or Ethereum. These loyalists go too far in terms of how much they support the first wave of tokens. To the extent where they fail to see the opportunities for investing in newer tokens! These influencers proceed to criticize and nitpick every aspect of new tokens in an attempt to diminish their popularity. Overall, these kinds of influencers are stuck in the past where most of the opportunity has already been seized, hence, the information they provide does not bear much weight for the evolving conversations in the crypto space. These kinds of influencers will amplify FUD in their audience when talking about newer tokens, coins, and blockchains.
Another red flag is the opposite of the aforementioned red flag. This is observed in some ‘meme’ influencers who constantly jump from bandwagon to bandwagon in order to earn a buck. These people will tell tales of unimaginable future success, promising more and more to their audience if they just invest their life savings into a practically unknown project. Some projects in the crypto space definitely have the potential to grow and scale much further beyond expectations, however, in the same breathe it is important to realize that not all projects will amount to what is envisioned. ‘meme’ influencers often are not well versed in financial advisory or trading, rather they rely on developing skills that help them garner support from large audiences. These people will vehemently claim that one project is the key that unlocks your financial freedom, constantly talking about how it’s the ‘next big thing’ without considering other alternative projects or incorporating any critique.
The only way to know that an influencer is speaking their truth is by knowing their investments. If an influencer has invested their own money into a project, this may indicate that they are being honest. Once an influencer has a stake in the project, they themselves are assuring you that they are willing to invest in the exact same project that they encourage their audience to invest in. This means that such ‘community YouTubers’ have utilized their knowledge and experience to ensure that their audience is not misled into investing in a sinking ship.
There are many other kinds of fudders in the crypto space as well, always be on the lookout for people misusing their platform! Only through the dissemination of proper information can we continue to move forward as a community! Join hands with Direwolf in stamping out FUDDERS. Ensure that trust and transparency come out on top!
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