We hear a lot of noise from the mainstream crypto media. They have a goal to get people to tune in. This means making people fearful or angry.
In this video I discuss how we need to tune it out. What they espouse is mostly noise. Even the valid stuff is over the top in an effort to promote an idea.
▶️ 3Speak
Man, you're like the Buddha of investment, great message
LOL I am not sure how Buddha would approach investing but thank you.
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I always believe having patience is the key to success. Anger and being panic will bring nothing. This could be a hard time in crypto world but good days are coming InshaAllah.
That is true. Emotions, especially when it comes to investing is fatal. Those who succumb to it find their accounts get torched.
Markets reward those who are patient. Those who are fearful tend to get eaten alive.
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Agree with you and here also patience is the key. In business we need to be more brave and risk taker instead being emotional. That's all I believe.
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BEER.Actually I think the articles might also provide a way to push crypto into the heads of the normal citizen. They might not buy BTC or some other crypto but if it does show up enough times, they might look into it or buy some. Of course I hope these people are doing their own research and that they ignore the noise after they do that.
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Summary:
Task talks about the importance of ignoring the noise created by financial media, especially in the cryptocurrency space. He points out that media outlets often have a negative slant towards crypto, which is influenced by ad buying from traditional Wall Street firms rather than crypto projects. Task emphasizes the need to discern between speculation and concrete information, providing examples of past situations where noise led to temporary market impacts. He advises viewers to focus on their own research, draw their own conclusions, and not to be swayed by sensationalized headlines and articles.
Detailed Article:
Task starts by highlighting a common phenomenon in the financial markets, which is the influence of financial media on shaping people's perceptions of different asset classes, including crypto, commodities, and equities. He suggests that financial media aims to evoke emotion in its audience, often leaning towards fear or anger to attract viewership and engagement. Task notes that in the case of cryptocurrency, there tends to be a negative bias in media coverage, potentially influenced by advertising prioritization from Wall Street entities rather than crypto projects themselves.
The speaker delves into the intricacies of the relationship between ad buying and content presentation in financial media, indicating that significant ad spending could influence the narrative and tone of the content produced. Despite claims of separation between ads and content, Task expresses skepticism, suggesting that financial decisions at these media outlets could ultimately impact content decisions as well.
Moving on, Task discusses the prevalence of negative news and fear, uncertainty, and doubt (FUD) surrounding cryptocurrencies in the media. He cites examples of headlines and narratives that tend to focus on potential bans, regulatory issues, energy consumption concerns, and price predictions that often foster a sense of panic or doubt among investors. However, Task encourages viewers to differentiate between noise and legitimate news, highlighting instances where speculative articles turned out to have short-lived impacts on the market.
Task references the case of China banning crypto mining, which initially led to a drop in Bitcoin's hashrate but was eventually mitigated as miners relocated and operations were resumed. He emphasizes the need for rational thinking and logic amidst media-induced noise, suggesting that overreacting to sensationalized news can lead to poor investment decisions.
Furthermore, Task underscores the importance of conducting personal research, forming independent conclusions, and not blindly following the narratives propagated by the media. He advises viewers to be cautious of opinion pieces, acknowledging that even well-informed individuals like Mike Novogratz may have underlying motives that could influence their public statements. Task advocates for critical thinking, self-research, and the disregarding of sensationalized media noise to make informed decisions in the volatile cryptocurrency market.
In conclusion, Task encourages viewers to stay level-headed, ignore the noise, filter through information critically, and make decisions based on thorough analysis rather than succumbing to the sensationalism often present in financial media.