Bitcoin and blockchain are just over 10 years old. Before Bitcoin, there were only a few expert cryptographers in the world. Cryptography is an extremely difficult discipline combining mathematics, coding, puzzle solving, philosophy, and sometimes economics. Since the birth of Bitcoin though, numerous gurus, speakers, and evangelists have popped up. Unfortunately, many of these cryptocurrency and blockchain experts are just lining their own pockets.
Because of this deluge of “experts”, it makes picking the right sources for your information that much more difficult. Whether they be Bitcoin experts, blockchain experts, experts on tokens, or trading experts, each has their own view on what is true and what is false.
The difficulty in these issues is that many of these experts that are interviewed are there because they have the confidence to express their views, not because they are the best and brightest. Those who shout loudest are often the ones who are heard.
Taking the time to understand who and who not to trust is a worthwhile exercise though. Much like analysing sources for a university paper, one must ask what are their goals and their history, are they being paid, and how have their calls been in the past? To gather a trusted pool of experts that you can rely on can take months if not years.
With that, even then those who don’t make the list can be used as counter indicators. If they are shilling a coin, then it is probably wise to avoid them.
There are other industries that have been turned off by the incessant evangelism of blockchain with little or no use cases. With experts making all kinds of predictions, time will tell how accurate they truly are.
Be wary of any cryptocurrency and blockchain experts in this industry. There are many fraudsters and phonies out to get your hard-earned money.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.