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The Psychology of Why People Fall for Crypto Shills in Droves

The Psychology of Why People Fall for Crypto Shills in Droves



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6 Comments

  1. Good shills speak as if they know their stuff and most investors have no idea what coins do or what problems they solve or how good the tech is. Following shills is easy and gives the uninformed investor the same chance as randomly investing in random coins.

  2. Speaking of shilling, I’m going to take a moment to shamelessly shill for Publish0x, because I think the platform has potential. You get paid crypto to read and write stuff. It greatly needs to expand its topics and subjects, but the potential is there. Check it out if you have time.

  3. tldr; People are irrationally prone to seeing what they want to see (and, on the flip side, dismissing or explaining what they don’t want) and giving weight to evidence in support of our beliefs and not seeking evidence that contradicts our beliefs. People tend to visualize the positive outcome that the shills promise, such as 1000x return, and researchers have shown that imagining positive outcomes gives you a little rush of dopamine, which feels good and pushes you toward wanting to believe the shill.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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