Saturday, January 16, 2021

LifeProTip: Alts without third-party media coverage are a portfolio liability.

Backstory: I was recently trying to do some community work for my alt bag (((ELF))), so I went to Wikipedia and tried to write an article on it. I dropped in like 9 references for events around it and I thought that was enough since I checked out the original Bitcoin article and it was pretty simple. Just a whitepaper reference and a couple of events, Github link, and Medium post.

Well, in order for an article to be accepted, it needs to go through an editor. Editors know that crypto is a scam honeypot, so I guess standards for articles are much higher these days. In order for the article to pass review, it needs enough third-party coverage from reputable sources. They will not consider CoinDesk news reputable, and articles from PRNewsWire are not valid sources. Primary sources need to be solid, but only using primary sources i.e. quoting the project's own Medium account will not be enough. Also, if the project is mentioned in a BusinessInsider article, it needs to be the main topic and not just a short reference to it.

The LPT is to make sure that if you're going to hold long-term some alt, make damn sure that it is getting news coverage and it isn't just Twitter and Medium posts as information sources. If your alt pick doesn't pass the notoriety test, better be sure that you picked a pristine diamond in the raw.


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