The R Roundup Presents: Moonboys 101 For Dummies — #9
It has been a while since we have had a For-Dummies article however with the markets back to lows the time for education is ever essential. There is no way to predict the markets but the more tools you aim to utilise the better you can conclude your thesis.
In every industry, there is always a batch of over-optimistic individuals that aim to leverage and capitalise further. In crypto, they may come in the form of Twitter accounts, YouTubers or bloggers but the mission is the same.
If you are new to crypto, you may hear the phrase “Moonboy” without understanding what it means and how it contributes to the community aspect of the crypto economy.
We will look at how to give a concrete description of defining a “Moonboy” and the different ways you can benefit or learn lessons to avoid.
⚠️Our content attempts to be entertaining as much as educational, we are not associating any individual/enticing any form of social investing marginalisation.
What Are Moonboys?🌙
In an emerging market with no regulators, it leads to people running quite wild without much consequence for their actions. There is a competition within the community aspect of crypto for who is right, who is wrong, and who to avoid which leads to a tribal feeling that in some cases marginalises investors into ‘key opinion leaders and the average investor.
As a new investor you might be questioning how this affects you however reiterating the previous point, the crypto market isn’t regulated meaning the chances of having a direct reputable source of information is slim and it’s also your responsibility to find that for yourself.
Moonboys come in at this stage as they capitalise off the consensual urge for ‘Alpha’ in the markets misleading investors for the benefit of themselves.
It's important to reiterate that Moonboys have an expectancy for the market to move in the up-only direction, therefore, leaving their usually large cult followings bewildered when the bear cycles inevitably come back around.
The criteria of defining a Moonboy often can be misleading however, the blurred line becomes clearer with the intention which is in this case almost impossible to determine.
How Do They Exist?🤕
Once again like any industry, there is always a group that can be identifiable by their persistence to constantly emerge as opportunists and in crypto, it's no different.
When you make that conscious decision to invest in a digital asset space that hasn’t got a framework on how it’ll be economically integrated, you automatically put yourself in an extremely vulnerable position as you rely on being pointed in the right direction without much knowledge.
Often the difficulties that come with crypto are not expressed to the level they should be which can also add to your vulnerability as you also are expecting unrealistic returns on your investments. Overall the main thing ‘Moonboys’ tend to capitalise off is that vulnerability which then leads to them setting either unrealistic price targets or unrealistic expectations of where the markets are going without much evidence/analysis.
While there is a common knowledge that analysis can still go wrong, Moonboys tend to avoid building confluences to their investment thesis which is worse than analysis gone wrong.
Is There A Moonboy Criteria?🧾
Identifying what you would need to do to be clarified as a Moonboy is just as hard as the attempt to set regulations on the market to ensure that crypto can still thrive.
The battle is where do you draw the line.
Whether you have gotten a certain number of ‘price predictions’ wrong is speculative however the markets are extremely transparent and when you have a blockchain and transactions point to an individual leveraging their reach to set unrealistic expectations and then capitalise on them, that's when the term Moonboy can be applicable.
Once again, this is extremely subjective but for the sake of entertainment whilst educating, you can also as you move through the crypto economy collate your definition of what a Moonboy is and does.
You may also be wondering why ‘Moon’ and that’s simply because that's always where they set their expectations on the market which as we can see now, isn’t always a reality.
How Do You Use Moonboys To Your Advantage?🍻
It could be classed as a skill of being able to withdraw information and apply it for yourself and in this instance, it’s a skill every crypto beginner should become familiar with.
Moonboys often appear in the limelight for their charisma and methods of distributing information whether that be via YouTube, Twitter or Telegram. They either are very knowledgeable about the industry and can sometimes have networks including some of the industry's largest players which extends the level of manipulation that can occur from intentional misinformation or not providing a clear picture.
Extracting the main way to capitalise off moonboys you can already imagine that the information they give may be a good basis to build your research platform and then branch off. In some cases, while 90% of what they say could be motivated by ulterior motives, that 10% you can take with a pinch of salt can often help you collate extensive research.
As an example: Moonboy A says to Investor B
“$ETH Is Moving To PoS, This Will Lead To $1,000,000 $ETH.”
Instead of extracting the unrealistic price prediction, you can branch-off the “$ETH Is Moving To PoS” as a grounds for research.
This would be one of the best ways to capitalise on the information Moonboys may distribute. Once again, this will come with experience as a new investor may not have the ability to differentiate what is accurate and what isn’t which highlights the issue the crypto industry has with the provision of unrealistic targets and misinformation.
As price continues to lack conviction regardless of the direction, the importance of rational optimism isn’t emphasised to the level it should be.
To further increase the integrity of the asset class we set out to build and contribute to, there should be greater diligence for information that can mislead new investors.
This article is in the majority of it, entertaining and essentially a joke however there is no doubt that the points made can be the difference between someone investing in a random coin expecting life-changing gains and eventually getting rekt or someone taking the space a bit more seriously and investing with personal conviction.
That being said, the ‘FOR DUMMIES’ series is one which we want to continue especially with prices coming down as the time for beginners to apply their education is ever so near.
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As a reminder this is not a trading signal nor is it investment advice, it is an opinion and each trader/investor should know and understand the risks attached to trading cryptocurrencies. At no point should this be regarded as financial advice, feel free to familiarise yourself with our NFA disclaimer.
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