There was a time when Twitter was the heart of the crypto community, a space where enthusiasts, investors, and developers could find real-time updates, debates, and market insights.
When I began writing about blockchain and cryptocurrencies at the end of 2019, Twitter was a vital source of inspiration and information. But since Elon Musk’s acquisition and rebranding of Twitter as “X,” the platform has dramatically changed—and not for the better.
Crypto Twitter, as it once was, is now virtually dead, overwhelmed by irrelevant content and scams. Here’s how we got here.
The Rise and Fall of Crypto Twitter
In its heyday, Crypto Twitter was a bustling community where users from around the world gathered to discuss Bitcoin, DeFi, NFTs, and the latest blockchain innovations. Twitter’s algorithm was used to serve up content that was perfectly curated for crypto enthusiasts. Hashtags like #Bitcoin and #Ethereum helped to create organized, focused discussions, and the “For You” tab was a goldmine of relevant crypto news and debates.
During pivotal moments, such as the 2021 bull market or the rise of DeFi, Crypto Twitter was a real-time source of information and analysis. Just think of the downfall of FTX which was like a real-time crypto soap on Twitter. Influencers like CZ from Binance or Vitalik Buterin could spark major conversations, while threads dissecting the latest trends often guided investor sentiment. It wasn’t just a place for news; it was a space that actively shaped the crypto industry.
The Chaos of X: Algorithm Changes and Rising Frustrations
All of that changed when Elon Musk took over. Under his direction, Twitter became “X,” and the experience of using the platform rapidly declined. The algorithm, which once catered so effectively to niche communities, now seems broken. Crypto-related content has become buried under a mountain of irrelevant and often inflammatory posts. It feels like the algorithm has shifted from connecting communities to maximizing engagement through sensationalist content.
One of the most frustrating aspects has been the surge in irrelevant content. My “For You” tab has become a chaotic mess, filled with posts about topics I have no interest in, from politics, and pop culture scandals, to sensationalist news that has no connection to the crypto space. I continually mark posts as “not interested,” yet the algorithm refused to adapt for a very long time which was frustrating and annoying at the same time.
The Rise of Dangerous Scam Ads
As if the algorithmic mess weren’t enough, X has become a breeding ground for scams. Scam bots have always been an issue, but the problem has only grown worse under Musk’s leadership. Scam ads now populate the timeline, posing as legitimate content and preying on unsuspecting users. These deceptive ads are a real threat, particularly for those involved in crypto.
For example, it’s increasingly difficult to differentiate between a normal post and an ad, as the distinction is often hidden in super small text in a corner of the image. In the case of Tesla cars and others, the ads are not even marked as ads anymore, you will find them among other irrelevant tweets.
I recently encountered a scam ad by a user named “karnatakaone kanakagiri,” who had joined X only a few months ago and had barely any followers. This anonymous account pushed scam ads with enticing offers like “free NFTs,” which are designed to trick users into connecting their crypto wallets to a wallet drainer. This leads to immediate losses, with wallets drained of their assets in seconds.
The ads are everywhere, from accounts with bizarre names like “Student Eats Noodles” to more official-sounding handles. Despite attempts to report and block them, they continue to proliferate. For crypto users, these wallet-draining scams are not just a nuisance, they’re dangerous. If you connect your wallet to one of these fraudulent links, you could lose your hard-earned crypto before you even realize what’s happened.
These fraudulent advertisements have evolved to be increasingly deceptive, blending into the timeline in ways that make them hard to spot. They promise “free NFTs” or “exclusive tokens” but deliver nothing but wallet-draining links. Despite the platform’s claims to improve user experience, scams remain rampant. These ads are a constant reminder that X is now a much riskier platform for anyone involved in the crypto world.
Irrelevant and Toxic Content: A Flood of Noise
Beyond the scams, the platform has become flooded with irrelevant and toxic content. My timeline now regularly features posts about American politics, celebrity gossip, brutal acts of street justice, and other topics I actively try to avoid. I’ve seen videos of alleged criminals being beaten senselessly, often with millions of views glorifying vigilante justice. This is a far cry from the insightful debates and market analysis that once characterized Crypto Twitter.
One recent post stated, “Trump forced 12-year-olds to perform lesbian sex acts for him. That seems important.” Important to whom? Certainly not to me, and certainly not to the crypto community. The content I encounter now feels random, sensationalist, and irrelevant to my interests in blockchain and finance.
The Broader Impact: How X’s Changes Hurt the Crypto Ecosystem
The decline of Crypto Twitter isn’t just a personal frustration, it’s a blow to the entire crypto community. In its prime, Crypto Twitter was a space that could influence the market, drive trends, and create rapid shifts in sentiment. With its dilution into irrelevance, the crypto community feels fragmented and dispersed. Crypto users are turning to alternative platforms like Reddit, Telegram, or Discord, but none have the same immediacy and visibility that Twitter once offered.
Furthermore, the proliferation of scam ads poses a real threat to newcomers in the crypto space. If a platform is flooded with fraudulent content, it damages trust, discourages new users, and undermines the credibility of the crypto industry as a whole.
What’s Next for the Crypto Community?
Many users are struggling to find a new home for focused crypto discussions. Some have switched to Twitter’s “Following” tab, limiting their feeds to trusted accounts, but even this doesn’t prevent irrelevant ads from slipping in. The question remains: Will X adapt and become a safer, more relevant platform, or will another social media site rise to take its place?
There are whispers of emerging platforms like Bluesky and Mastodon, and even the promise of decentralized social media networks where the whims of a single owner don’t dictate algorithms. Until then, the community must remain vigilant, both in filtering content and avoiding scams.
My Final Conclusion
For now, I’m sticking to the “Following” tab, hoping to regain a sense of the Crypto Twitter that once played such a significant role in the crypto world. The platform’s algorithm-driven chaos and rampant scam ads have made it almost unrecognizable, yet I still believe that the crypto community will find a way to thrive, whether on X or elsewhere. I just hope that the genuine, real-time crypto discussions I valued so much can find a new home, free from the distractions and dangers that now plague X.
In the meantime, I urge my fellow crypto enthusiasts to be cautious, particularly when encountering unfamiliar ads or promotions. The crypto community deserves better, and it’s up to us to stay informed and vigilant. I’d love to hear about your experiences. Have you noticed similar changes, and where do you see the future of Crypto Twitter heading?
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