The crypto ecosystem has no shortage of jargon. Ambiguous phrases, acronyms and newly formed words that had almost no meaning a decade ago (or even a few months ago for many) are now widely used market signals informing strategic investment decisions. As Cryptocurrencies are natively digital, it is important to understand the vernacular, usage, and meaning of the digital vocabulary that has formed within the space.
Shill- Biased Promotion / Sales Pitch
Shill is a less commonly used English word that has unfortunately become standardized throughout the cryptocurrency ecosystem. The Oxford English Dictionary defines a shill as “an accomplice of a hawker, gambler, or swindler who acts as an enthusiastic customer to entice or encourage others.”
A shill is like the suspiciously attractive audience member selected by the magician to be sawed in half. Are they just another audience member, just as excited to participate as you would be? Or have they been coached, nurtured to perform on cue and deliver their lines perfectly each time in the interest of deceit.
Within the anonymous digital communities that have fostered many crypto projects to success, it can be difficult to uncover peoples’ true identities and intentions. Does that username truly have a deeper knowledge about this particular asset than everyone else? Or are they simply acting, trying to add credibility to a questionable market scheme that may not even exist? It can be difficult to distinguish between passionate early adopters that want to share the potential of a new innovation from insiders that attempt to build credibility of unproven projects with carefully built messages.
Shills come in all different varieties, so it is important for discerning investors to recognize their own biases and always look beyond the smoke and mirrors. Sophisticated investors need to know the right questions to ask while differentiating between valuable information and just another shill supporting empty promises.
Daniel Pinto - Market Analyst @ TradingBull.io
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