Recently, several groups that were good sources of information in the crypto space were disbanded. I've been looking for replacements for a few days and have found nothing, which is frustrating, so I'm venting a bit.
To be honest, the crypto space is really a chaotic place, with all sorts of people involved. Most of those who come here are looking to get rich overnight, and the whole circle feels very restless. One moment they're saying they've hit the jackpot with a young model, and the next they're talking about going all in and heading to the rooftop, like a factory for electronic goods.
It's also very troublesome for ordinary people to obtain relevant information. The self-media platform has the outer wall of X as the main battlefield, but it is also the most chaotic place. There is gold and there is dog poop; the gold consists of various latest information about the crypto space, while the dog poop includes various scams and fraudsters. Ordinary people lack the ability to discern, and if they're not careful and click on a phishing link, they can be completely drained of their wallets.
Domestic self-media on Weibo is the main battlefield, but most of it is about trading, with people shouting about rising and falling prices every day, or posting some gossip, or saying they made money again today. It's all just garbage information, and after reading it, it only adds to your anxiety without any real use. Zhihu and Bilibili are somewhat better; there are some people who are genuinely in the crypto space, but the content is very limited and fragmented, and those who are really in the crypto space sometimes just stop updating.
More legitimate platforms like Planet Daily are somewhat better, but the news is a bit delayed. They can be used to understand the crypto space, but you can't rely on these messages to make money. In the crypto world, a day feels like a year; by the time articles from Planet Daily are published, the trend has already changed.
Then there are the content platforms of various exchanges, where 95% of the creators are studios that create accounts to scam money. The content is often just repurposed from elsewhere, or they create a hodgepodge: copying a news article here, a comment about that news there, or having AI generate random stuff to finish it off, all just to profit off you. For example, they prepare two accounts to hedge; one shouts long and the other shouts short. One of them is bound to guess correctly, and after that account accumulates a certain number of followers, they start leading trades. They prepare another account for leading trades to hedge again, one long and one short, and one of the accounts will profit. They then take 30% of the profits from the retail investors; the investors might make money, but they will never lose.
The aforementioned sources are free, but there are also paid ones, such as paid research platforms and KOLs. Some paid research platforms do have some value, as they can produce research reports on projects before they become popular, helping you understand the project. However, there aren't many; generally, there are only one or two in a year. Other research reports tend to be lagging, only providing you with more detailed data about the project, which is of little use to ordinary people. Paid KOLs mainly fall into categories like trading contracts, first-level blockchains, and token farming. Reliable KOLs in trading contracts have profits over the long term similar to those from dollar-cost averaging into major cryptocurrencies. The latter is easier; there is a lot of information in first-level blockchains and token farming, but you need a certain foundation of crypto knowledge to discern it before participating. However, I believe this is a relatively good way for ordinary people to make money in the crypto space.
The best groups are those formed by people within the crypto space (private boards), such as various project parties, KOLs themselves, market makers, etc. Whether they make money or not is secondary; at least the people inside have a relatively accurate understanding of the crypto space, and conversations are quite pleasant. The proportion of quality information is also relatively high, but this has nothing to do with ordinary people, and even offering money doesn't help. It's usually a resource exchange; I got pulled into one purely by chance because I had a good relationship with a project party leader.
Recently, the groups I joined have been disbanded, and those related to first-level blockchains and token farming have been shut down. I've been looking for replacements for a few days and can't find any, feeling like I've been isolated from the crypto space. I'm not expecting private boards anymore. If any friends have access to paid groups aggregating first-level blockchain and token farming information, please contact me.
