If you have gone off the deep end of the cryptocurrency pool, and try to absorb as much knowledge as possible, you soon find out that the scene is filled with toddlers. Not by age or appearance but in the way they interact with others. It's always a measurement of strengths as for who is backing "the ultimate coin" and is "going to the moon". Meanwhile the opposing party is always a fool for backing the project, it's going nowhere and "MY PROJECT IS THE BEST !"
While there are obvious scams plaguing crypto, and some projects i would not touch if they where given to me these discussions also happen around the coins with the biggest martket caps. Personally i don't care if BCash is gonna be the future, or Etherium has the best technology, Bitcoin the History, Ripple is owned by "Them", or that coin X did a premine/ico/whatever.
I select a coin because it fits what I need or want from a coin. It has MY favorite technologies, MY favorite market position, MY favorite team, MY roadmap. All these factors have nothing to do what other people are looking for in a coin, and what weighing they use to find THEIR coins. And while i like a good laugh about people investing in an obvious ponzi scheme, it doesn't really matter or affect me what you choose, so why act like a toddler ?
Involvement
Most people that have strong opinions about something are the peoples that have an relationship with a project. Everyone knows that person, the one who thinks car brand X is the best car brand ever until he buys himself a Y. Now i'm not saying X or Y is better, because i myself drive a Z, so that's far superior to anything X and Y have ever produced. Me being involved in the Z ownership certainly has me biased towards my own choice, cause we all think that only we ourselves take the best decisions. For me involvement in a project proves that you have a biased opinion, and information about the project should be treated as such.
Stake
After the Bitconnect drama all the news started pouring out about people losing fortunes taking loans etc and losing it all to Bitconnect. Those people had a lot at stake when that happened, and where constantly telling everyone that it wasn't a scam, and it's all legit etc. Their stake in the project created an urge to sugarcoat the truth even when they themselves fully knew and understood what the state of that project was. But if they could prevent the drop, they would also limit their losses. But the sugarcoating isn't only there to stop a loss, but also to create a profit. Spammers have been using these tactics for many years. They bombard you with their product / service or what not in the hope that 1% gives a response and acts upon it. In crypto others buying in means that the dollar price of my coins goes up, and i profit.
Fear
As everyone knows crypto is pretty volatile, and that has it's ups and down sides. Imagine yourself being fully content with your portfolio, never talk about it and learned to live with that volatility. As you go by the neighborhoods social events there is an outspoken neighbor. That neighbor is always telling everyone what great portfolio he has, what coins to buy and even telling people not to buy some of the stuff you have in your portfolio. Because you have involvement and a stake in these projects of-course you will open your mouth and contradict them. Now social media is one of the roughest neighborhoods out there. There is no one protecting the neighborhood like the police. Now imagine the neighbor bad mouthing your portfolio being an unknown person wearing a ski mask and a holding a megaphone.He cannot touch you, and you too are wearing a ski mask and have a megaphone in your hands. Twitter provides anonymity, a large audience and distance between people. Combine that with the fear about involvement and stake and name calling is bound to happen.
Solutions
I'm a big advocate for free speech, even if that speech hurts others or me. I hope that anyone in the world gets to fully use their rights and is granted the opportunity to say whatever words they feel fit. Being for free speech for me automatically means anti censorship. So if you want to be a bully, go right ahead, that is why twitter invented the block option (no need to report, we are not in nazi germany).
- Look inside, and stop yourself from participating in the toddler behaviour
- Look towards people providing you with the pro's and the con's for knowledge. If you own coin X also follow social media on Y and Z since they might be the next big thing.
- Look at people that are honest and provide a disclaimer when they have a stake in a project
- Listen to the ones talking in a calm voice giving you valid arguments instead of those screaming opinions.
- Stay away from "tainted" people, since backing or endorsing for their own good might just be their business model.
- Focus on your own strengths instead of others weaknesses
Enjoy your projects, whatever your choice may be !!