How Twitter Serves As the Town Hall of Crypto

Twitter is (for now) indispensable to following blockchain technology. What might look to outsiders like idle badgering and joking, is in fact the process of people forming allegiances and making deals. Axios reports: "Crypto Twitter" or "CT," refers to all the people tweeting about various blockchain projects all day. They don't all necessarily follow or interact with each other, just as everyone in a town doesn't necessarily know everyone else, but a town still has its own character and so does CT. "Crypto is 24/7/365, and it needs a medium that matches that pace," Variant Fund's Spencer Noon tells Axios.

Sources prominent on Crypto Twitter mostly feel that Twitter has been a useful space for the crypto industry, but not without caveats. Several say it's key to staying abreast of what's hot right now. "Twitter is kind of a 'Great Equalizer' of sorts, where broadcasting continues to be a good way for newcomers to build a brand," Archetype VC's Katherine Wu tells Axios. [...] The best use of Twitter depends on whether you're a trader, investor, content creator or founder, but lots of our sources pointed to Twitter's power as a place for discourse. "To me what matters most is the dialogue," Adamant Research's Tuur Demeester said. "Sometimes I like to just throw ideas out there to immediately connect with those that share similar interests and want to brainstorm," Linda Xie of Scalar Capital said.

It takes a while to get your bearings on CT. There are a lot of inside jokes and in group language that takes time to learn. As [Castle Island Ventures Nic Carter] put it, those obstacles serve as filters to make sure folks in the conversation know something about what they're discussing. "It's like an in-group binding mechanism," Matti of Zee Prime Capital says. "You feel rewarded that you're an insider if you get something, and then comes that sweet release of dopamine." Some notable moments in CT include when ConsenSys staffer Jordan Lyall tweeted a gag in the middle of DeFi Summer that turned into a real project, with a token called MEME. And when Coinbase announced acquiring Neutrino in 2019, "a company with staffers known for enabling some very controversion spying," reports Axios. "The hashtag #DeleteCoinbase trended."

If your town hall has that many crooks & liars

[rsilvergun]

find a new town hall.

In other words...

[Pollux]

There are a lot of inside jokes and in group language that takes time to learn...those obstacles serve as filters to make sure folks in the conversation know something about what they're discussing. "It's like an in-group binding mechanism,"

What I hear you saying is this: Those that don't want the struggle leave. Those that remain who demonstrate a willing to endure the struggle prove to the crooks that they're willing to take a crap-ton of abuse. It's exactly like the beginning of Squid Game, where Seong Gi-hun is willing to get slapped in the face repeatedly just for the chance to win a gamble.

I think that abusive behavior is called hazing.

Re:

[piojo]

There are a lot of inside jokes and in group language that takes time to learn...

It's exactly like the beginning of Squid Game, where Seong Gi-hun is willing to get slapped in the face repeatedly just for the chance to win a gamble.

I think that abusive behavior is called hazing.

Sounds much more like hyperbole to me.

And like Crypto is the village idiot claiming

[thesjaakspoiler]

that everyone can be a multibillionaire if they invest all their money to Crypto.

Crypto Kardashians

[edis]

CK

I do

[invictusvoyd]

solemnly swear that I did not sell rights to my bottom .. oh plz slashdot!

Alternative title

[BeaverCleaver]

"Twitter still a waste of time."

Re:

[UnknownSoldier]

Twitter demonstrating why it is called Shitter. Crap topics that no one gives a fuck about.

LOL "townhall"

[DrXym]

99% of crypto / NFT based traffic on Twitter consists of bots and marks crapping out indecipherable hash tags to one another about the latest crypto / NFT du jour scam. These idiots are co-opted into these scams with the promise of free coins, items or whatever and are literally acting to pump the price up before the inevitable dump.

language

[lchop]

I expect that another advantage of having all this new language they have developed is that it makes them very, very cool.

Anything that needs hype benefits from Twitter

[misnohmer]

Twitter is "hype central", so it's only logical that anything that depends on hype to grow count Twitter as one of it's vital resources. Hence Elon, hence crypto, hence other hyped up schemes, all on Twitter, though not always exclusively.

"know something about what they're discussing"

[clawsoon]

Every group develops some ingroup language, as a Beowulf cluster of Natalie Portman's hot grits will attest. That doesn't mean they have any understanding of what they're talking about. If they did have some actual understanding of blockchain technology, they wouldn't be so enthusiastic about it.

Language

[Barny]

There are a lot of inside jokes and in group language that takes time to learn.

They, like 419ers and myriad newer scam operators, will weaponize language to create a low-pass filter—they want stupid people willing to throw money at them with the promise they'll get more in return.

Townhall

[byronivs]

See, if we call it a town hall then we advance the idea that twitter, a private company, is a "public square". And being that as a public square, it is indispensable, well, it simply goes after that we call it common carrier? "Asking" for a "friend."

Hah

[DMJC]

Crypto-twit is the annoying part of Fin-twit. Really wish they'd go away and leave the finance nerds alone. No one cares for their spruiking anymore. It's clear that Crypto isn't the revolution in finance they've been hyping/hoping for.