 | People say taking investment advice on this sub is bad, but the reality is that FA from basically any social media is a terrible idea. You should always read widely and do your own research from many sources and then make an educated decision. But some sources are definitely worse than others, and Twitter is one of those sources. Take for example this twitter account. They have half a million followers. And what does this account tweet to deserve such a following? Just tweet upon tweets repeating the same useless information on every tweet about the same sh*tcoins.And for all you know, the url at the end could just be a link to a contract to steal your tokens.(I never bothered clicking to check). In exhibit B we see a fake account for Michael Saylor. Interestingly, this account appears to take a different strategy. Notice the significantly smaller follower count. However, the tweets are still overridden by bots. The account shills literally the same thing over and over…and over on every tweet. The tweet itself appears to link to some fake phishing site that I imagine is another contract to drain your funds. Ironically the url is spaceX-coin.com and I don’t really know what Michael Saylor has to do with SpaceX…but ok. But also significant is the fact that the tweets gain 1.2k likes and retweets, although with very little comments which is typically a telltale sign of bots although you can certainly get more sophisticated bots that comment as well. There are also shills accounts for shills accounts. These 3 tweets represent the entire historical activity of the profile. As you can see, they do giveaways of $5 and $10 and to entice users to follow and endorse shill profiles. Even the account of the man himself, Elon Musk appears to have loads of fake followers. SparkToro & Followerwonk Joint Analysis determined that 23% of Musk’s followers are bots. But more than this, the two firms also estimated that 70% of Musk’s followers are accounts that haven’t tweeted in 90 days. So, 70% of the people who follow Elon Musk, unless they are logging on just to read other tweets, barely use the platform. There were another analysis done by dappGampbl that suggested the number is around 6% but this is significantly less reliable compared to the previous study done by the two separate analyst firms mentioned above. And yet even at 6% that still amounts to 6.7M followers. [link] [comments] |
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