Crypto DYOR 101

Make no mistake — we are definitely in a crypto bull run. What a delight! Retailers are getting excited. The FOMOmeter i.e. Fear & Greed Index is running red hot. Currently, it is sitting at ‘Extreme Greed’.

Eager beaver retailers are FOMO’ing into the market like there is no tomorrow. Get ready for departure as the Balkan Royale Crypto Express is about to take you on an exciting adventure.

The problem with this is that I have noticed a plethora of social media crypto gurus and armchair experts have jumped on board to hype their altcoin picks so be sure to FOMO in. What can go wrong?

For a nuanced discussion on this topic check out my previous post.

Could I get people to buy my banana token? It will be endorsed by Elon (one day)

The moral of the story / post was that if a moonboy YouTuber promises 2.000.000% ROI then s/he is either a genius or people believing this s*it are gullible idiots.

Speaking of idiots, I recently came across a news story that furniture retailer Ethan Allen Interiors is changing its ticker symbol to prevent confusion with Ethereum. Apparently there are enough f*ckwits out there who think that you can buy ETH on the New York Stock Exchange. *Someone must have been snoozing during Blockchain 101 class.

While I applaud the democratization of finance, I also watch in horror as moonboy YouTubers are stacking views left and right while some people are seemingly trying to buy cryptocurrencies on the New York stock exchange.

As for the former issue, one might be inclined to think that this kind of dubious content is mainly created by fringe ‘moonboy’ YouTubers. Surely, the big time influencers such as Bitboy with 1.4 million subscribers must be doing their due diligence when it comes to recommending alts. Again — what can go wrong?

Well, to be sure, I have never watched his channel so I would like to tread carefully here. However, buyers beware — even top influencers which include Bitboy get paid for their opinion!

Source: Twitter

Surely, there’s no ‘honest’ opinion when it’s a paid opinion!

Accordingly, I am calling for more due diligence i.e. DYOR when it comes to investing into cryptocurrencies. Below are a few pointers that make picking successful alts a science rather than a lottery ticket.

My first advice is that YouTube videos should not be your primary resource that guides your investment decisions.

Paul Graham puts it rather eloquently:

You can’t replace reading with other sources of information like videos, because you need to read in order to write well, and you need to write in order to think well.

I think this relates:

Writing is often the process by which I realize that I do not understand what I am talking about.

There are loads of crypto books to sink your teeth into. In my post ‘Crypto Books You Can’t F*ck With’ I have listed some of the better books that are worth reading.

Granted, trying to get the Generation Z (also colloquially known as zoomers) to pick up a book instead of a smartphone is exercise in futility. So let’s ride with that — below are my top media channels that get the DYOR ball rolling.

Real Vision Crypto

Real Vision Crypto

One of my favorites — Real Vision Crypto is a free cryptocurrency media channel. Host Ash Bennington Real Vision Founder & CEO, Raoul Pal, will knock your socks off.

I have mentioned Real Vision Crypto ad nauseam so check out some of my previous posts. No freebees or ‘to the moon’ coin picks to be found. Just facts and learning.

Source: Twitter

Crypto Banter

Source: Crypto Banter

Another favorite of mine — Crypto Banter, the world’s first 24/7 interactive social-cast for the crypto community. Be warned: This is a degen channel as Ran Neuner likes to dip and dabble in what many consider to be speculative alts. This is not for the faint hearted. Accordingly, many Bitcoin maxis loathe this channel with a passion.

Ran Neuner’s generous use of life/wife-changing wealth sounds a bit exaggerated at times. I have written a post on this: ‘Don’t FOMO into Creating Life-Changing Wealth’. Suffice to say is that this channel provides excellent degen calls to get your DYOR going.

Rans fundamental analysis and explanation of the narrative is f*cking spot on. I have learned so much from his way of thinking. I don’t believe he shilling alts for the sake of pumping a coin as many other channels do— no Sir. Each pick comes with a narrative that is grounded on fundamental analysis and a rock solid narrative.

Some may disagree with my analysis and that is fair enough. Here is where I am coming from: When I listen to Ran’s banter on alts I am looking for his explaination of the narrative — others have pen and paper ready to invest whatever Ran is selling. It is a different mindset. Essentially, I am looking at his fishing technique — others just want free fish.

Here is an example:

In summary, this is a great channel to get the DYOR ball rolling. Do not blindly invest into degen alts that Crypto Banter is reviewing. You must DYOR! It is just the first step in your learning journey.

The Metaverse Podcast

Source: Outlier Ventures

A new web is emerging that goes well beyond just Bitcoin, Ethereum, and money, but promises an entirely new computing paradigm, and data economy. The Metaverse Podcast is a series hosted by Outlier Ventures Founder & CEO Jamie Burke where he introduces you to the founders, entrepreneurs, investors, and the policymakers that are shaping Web 3, the Open Metaverse, and the future of digital interaction.

The Open Metaverse narrative is emerging as we speak. If you want to find out about tomorrow’s movers and shakers check out Jamie’s podcast.

Bankless Podcast

The Bankless Podcast

This is a popular podcast with Ryan Sean Adams and David Hoffman. They make tons of content in relation to financial applications being built without banks i.e. DeFi. Bankless you say? Hell yeah, now we are talking. DeFi gets me excited because I’m very much in a f*ck-the-banks mode at the moment! Here is a video that will get you hyped and make you want to charge at a bank with a balaclava and a molotov. Very interesting discussion by Raoul Pal.

There are many other channels of course. I have found that these ones work for me.

Honorable mentions: Unchained Podcast, The Defiant, Hustlepedia, FamilyOffice, etc.

If you follow my blog (haha good one) then you will notice (or not) that I have omitted some podcasts channels from my previous list. Three condenders come to mind: What Bitcoin Did, Bitcoin Fundamentals by the Investor’s Podcast Network, and Pomp Podcast.

So why is that?

Call it evolution or perhaps degeneration — whichever you prefer, but I am slightly past the notion that Bitcoin is the one and only Sheriff in town. I have done my dues and now it is time to dive into the exciting opportunities that the blockchain revolution has to offer.

For example, What Bitcoin Did has some excellent episodes with nuanced discussions of Bitcoin. Been there done that — next please. Recent episodes include ‘Understanding Anarchism with Michael Malice’ or ‘Ethics of Bitcoin Maximalism with Pete Rizzo’.

What Bitcoin Did Podcast: Banter about Anarchism

So let’s see here — what is the relationship between Bitcoin and Anarchism?

Yeah nah bro.

Might as well read The Stoic Philosophy of Marcus Aurelius, which by the way is an excellent book. And don’t get me started on those other maxi shows.

Let’s move along. Once you have identified a promising cryptocurrency that piques your interest, the first thing you need to do is go to a website like Coingecko to see price action and market cap. Be sure to check that the trading volume and price action are legit. Market capitalization (or network value) is an important matric which is calculated by multiplying the circulating supply with the current price. Essentially, it represents the hypothetical cost to buy every single available unit of the crypto asset.

Beyond price and market cap, Coingecko has many other cool features.

Source: Coingecko

Above we can see the social media activity of Terra (LUNA). Why is this important? Social media directly impacts cryptocurrencies. As we can see the enthusiasm for Luna is definitely rising.

Btw: I do not bother with Telegram as I recently joined Luna’s Telegram group but quickly realized it is a cesspool of spammers, scammers, and people asking what Luna is! wtf! Be that as it may I sure don’t get much enjoyment from chatting with strangers on Telegram in anycase. I am also having a hard time figuring out Reddit’s karma system.

Sites that might be worth a visit include Messari, Binance Research, LunarCrush and perhaps an ICO tracking site like ICO drops.

Here are more details on Messari.

Messari is an online database for the crypto industry that provides data insights, pricing, and research on crypto-assets through an open-source library of information. This crypto aggregator helps you scout those hidden gems to add to your portfolio or adopt a data driven approach to help you make better trading decisions. You can slice and dice that data in almost infinite ways to help you filter out projects quickly.

Have a nose around — Messari is a useful crypto aggregator

LunarCrush is another useful tool when it comes to researching a token.

Social media directly impacts cryptocurrencies. Because you can’t listen to a million different opinions a minute, LunarCrush does it for you. LunarCrush collects activity across social media for bitcoin, thousands of altcoins, crypto exchanges, influencers and more, in real-time every single day and distills it all into bitesize, digestible data. So, if you want to see a snapshot of the popularity of a cryptocurrency then LunarCrush is the place to go.

LunarCrush

CryptoPanic is another gem worthy of a look at.

Sources: CryptoPanic

Researching coins and keeping up with the latest news can be damn tricky and time-consuming. In short, CryptoPanic is a crypto news aggregator that crawls through reliable news websites and other sources like social media.

Lastly, have a brief look at Crypto Miso.

Source: Crypto Miso

Investing in cryptocurrencies without checking the development of a particular coin is probably a bad idea — you could be investing in a dead project.

CryptoMiso is a research tool that ranks cryptocurrencies based on activity on Github. You can check the number of commits an individual crypto project has done within a certain period based on the most popular repository.

The Grand FInale

Let’s summarize from hereon in.

My first advice is that YouTube videos should not be your primary resource that guides your investment decisions.

Read, learn, and watch reputable media channels. Stay open-minded and have a macro perspective on things.

I have given you a list of my top 3 media channels that I watch.

Let me repeat this again: Stop investing in cryptocurrencies based on 15 minute YouTube vids — no matter how good they are! And NO you cannot buy cryptocurrencies at the New York Stock Exchange.

DYOR!

Twitter, Messari, Binance Research, LunarCrush, etc. are all useful tools.

Please remember, retailers — including myself are not professionals. I am not nifty with numbers like that. My appreach is to follow the smart money and follow a narrative. I have written on this in my previous article ‘Show Me The Money: How To Pick The Altcoin Winners!

I think I made some excellent points there and thus I believe it is the ONLY investment advice that you will ever need!

Happy learning ya’ll.

Frei Bier / Twitter: @FreiBIER13

DISCLAIMER: My writings are merely a reflection of my learning journey and my attempt to compartmentalize the cryptoverse. I am learning out loud so feel free to correct me or disagree with me. This is not investment advice but my hope is that you find value in some of my links and ideas.

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Hey! I’m Frei Bier. My writings are merely a reflection of my learning journey and my attempt to compartmentalize the cryptoverse.

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Frei Bier

Frei Bier

Hey! I’m Frei Bier. My writings are merely a reflection of my learning journey and my attempt to compartmentalize the cryptoverse.

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