The Basics Of Avoiding Crypto Charlatans
Your guide to avoiding the Charlatans in the Crypto world
This is a crucial article so make sure you read this thoroughly
Here is a follow-along video from our Spartan Commander Joey we also recommend watching
Today we’re going over the basics of avoiding Crypto Charlatans
The market is very red right now, and this is when crypto gurus tend to go ahead and disappear from the market when it doesn’t look great.
A lot of other Crypto Gurus are starting to fly through YouTube channels, discords, telegrams talking about how great they are when it's a bull market
This article is going to make sure you understand that when the bull market comes you can protect yourself from listening to the charlatans
Sparta Antifragile-Principle (AP):
Avoid Doing Dumb Things
The sure-fire way to lose…is listening to charlatans
Other Dumb things?
- NOT DOING YOUR OWN RESEARCH
- NOT TAKING A STEP BACK AND THINKING
- NOT TAKING A STEP BACK AND ASKING QUESTIONS
The wealthiest people in crypto stop and restrain themselves from making emotional and incompetent decisions.
They take the time to sit back, think, and do their OWN research instead of listening to incompetent or malicious Charlatans.
Incompetence and malice look identical
Essentially, some Charlatans are incompetent and don’t mean to lead people in the wrong direction
However, some Charlatans have an ill will which is MALICE.
They want nothing more than to get you hooked on the “next big thing” that will lose you money and make them money.
Today we’ll be going over two examples from our own personal experiences
I will be giving an example of 2 people that want to help others but go about it in Incompetent or Malicious ways.
But before we do let’s understand the definition of these words.
An Example Of Incompetence
Ask yourself, is this post above encouraging others to think for themselves? Or is it encouraging you WHAT to think?
Of course its influences you WHAT to think, versus you thinking for YOURSELF.
“What Do You Have To Lose?”
“23 spots claimed”
These trigger urgency in the reader and reduce “Thinking” because the reader's emotions are invoking “that I have to take action” because they don’t want to miss out on the NEXT BIG THING.
Remember, “The more emotional you are, the more FOMO you have, the harder it is to make decisions”
Now take a look at the comments from our Commander Joey on this post. You will notice that he is asking EDUCATED QUESTIONS on this opportunity which is going to uplift a few red flags we’ll talk about below
#1: He has never launched a PERSONAL NFT project and is creating a program to teach others how to launch an nft project.
#2: “TBH The project is not doing well but it’s not due to my coaching”
#3: He is actively marketing 41.7 Million dollars as it came from his NFT projects but it came from his client's revenue.
#4: Actively discussing millions to make readers emotional and fantasize about making that type of money.
These comments above are not from a place of malice most likely but from Incompetence.
Below you will see our Commander go into more questions and pay close attention to how he answers it
From the main post above he said “This program has no downside. Not only do you get personally trained by someone that has generated over $41.7 million in sales and has taught many people how to make hundreds of thousands from his past coaching programs, but you have a full refund if you don’t think it's worth it?”
With your emotions up from the entire post, if you read this, do you think that he made $41 million in crypto? Or in internet marketing with his coaching program from his client's results?
The gray area between the two is hard to see through WITHOUT asking questions by THINKING as our commander is doing above
Only his “last 8 students” went on to make 10k+ in 30 days. But the question remains, is that based on the survivorship bias principle?
How many other students were there? What happened to all the other students?
And if the project isn’t “doing too well” why launch something else when there is an inconsistency somewhere from getting everyone who joins RESULTS
This person is most likely on the more incompetent side rather than malice.
They are posting this material in hopes of getting a bunch of people to signup and pay “only $500” for this “once in a lifetime chance of coaching” before it “goes public and doubles in price”
If you don’t have that $500 and are emotionally invoked to “not miss out” because of FOMO, you can see how this ends up turning south and WRECKING you
The issue we’re pinpointing with these comments above is that the charlatan isn’t giving the full story due to his own incompetence and that's it
Even when asking educated questions, he’s being around the bush and ties in random unnecessary responses that invoke the emotion of FOMO.
Example Of Malice
Remember, these are the 4 emotions Charlatans are ALWAYS trying to evoke in you
Gurus like Kale, get PAID off to promote a token or simply get paid off of views from their videos
Some even buy a bunch of tokens on the ground floor, and then SELL it when their video goes live…
One of the videos on Kales channel goes over “ETH hitting $10k” and all sorts of things that illicit emotion, but in a malice manner
One of his videos even goes over how these 3 altcoins will create billionaires before Christmas of 2021
The coin he promoted was Altura and this token is a seemingly legit one. They have real-life utility as well
However, lets to go coin market cap and go to the date he posted this video being October 25th
This video hyping up this token evokes fear, greed, and FOMO and so people go ahead and BUY
They’re not experienced and do not know really what to do and those who held onto it, really suffered the most as you can see it only went down from that part
The reason for this is some YouTubers/Influencers/gurus go ahead and SELL Their tokens are the peak of others' buying. Leaving the new buyers to get WRECKED
And remember, there are some gurus out there who will promote tokens or coins for tens of thousands of dollars. Some will get tokens before they post the video, and sell them for a huge profit. Some just get paid 20k, 30k, or even 40k for a simple interview or review of a token
This doesn’t necessarily mean that everyone or even this guy is a charlatan. There is nothing wrong with paying for reviews, but it is WRONG in lying and deceiving your audience to make a profit by selling your tokens as they buy them.
The growing issue in this bloody market is Charlatans taking advantage of people who do NOT think and just BUY off of emotion and leave you in the dust
This is a strategy to be aware of when you are looking into your crypto investment. Don’t stress or get paranoid over it, be AWARE of it and THINK for yourself before investing YOUR money
There can be a lot of things avoided if you just do your research and THINK before your invest off of FOMO or emotions of greed so that you can 100x your investment…when in reality, you are the one making OTHERS rich
Let's say you are in college and its the day before exams that start at 7 am
And you are invited to drink some shots at a party the night before
Do you go? Do you drink the shots? And if so, what happens?
How can you avoid this situation of being hungover by drinking a bunch of shots at a party?
THINK. SIMPLY, THINK
What are the benefits/risk of this decision? You have to ask these questions before taking action on many things in life, especially in the crypto world if you want to avoid the PAIN of getting WRECKED
The Four Spartan Laws (Our Operating System)
- What is your operating system for how you make decisions?
You must equip yourself with the PRINCIPLES, PHILOSOPHY & PROXIMITY so that you can make your OWN decisions by THINKING
- Use the Spartan philosophy listed below
You can review our last medium article here for an in-depth dive into our Wealth Formula so that you can AVOID getting WRECKED in Crypto
Sparta's Wealth Formula
philosophy, principles, and proximity to profit from the complicated world of Decentralized Finance (Defi) to crypto…
What’s The Best Way To Learn Crypto?
In Sparta’s opinion: There is no BEST way. The Only Best Way Is For YOU To Learn On Your Own What Is That Best Way You LEARN
So below, we will give you our IDEAS that have worked and continue to work, and you can pick and choose what feels right, test it, and reflect on if its the best way for you to learn
The #1 we learn is being around a group of people who are in the trenches and doing what we’re doing ( being yourself )
They might be investing in various coins or yield farming. Whatever it might be, it has to be what YOU align with.
Maybe that proximity is the Sparta Syndicate. Maybe it's not.
The people who are able to give you the inside nuisances and guidance on how to win,
The wealthiest people are NOT making YouTube videos or pumping and dumping coins, they are in the trenches GROWING and LEARNING. Surround yourself with those like-minded people you want in your proximity.
#2. Using C.A.S.E framework
People without this framework often skip to the execution and do not THINK
This is why they get WRECKED…because they do not Compile, Analyze, or Strategize, before Executing.
Compile the articles, podcasts, and videos, and do your own research compiled on your OWN understanding of the said token/coin.
“Is this the best token for me?” → “Does it have the tokenomics you like?” → Does it have the community/leadership structure you like?
After you analyze, you are able to strategize
Then you will be able to come up with a plan of strategy to win. For example:
“My goal with Altura is to invest here and ill make a quick 2x and then exit”
Now, this is NOT how we invest, but it might be how you do. The point is, you MUST compile data to THINK & ANALYZE, then you can STRATEGIZE
This simply means executing the above by actually having an understanding of what you are doing, how you are doing it, and what the strategy is.
3. Coinmarketcap, coinbase to get the basics.
By clicking “learn” on coin market cap, you can access their blog and EDUCATE yourself with their articles on near anything crypto-related
The issue with this is that it’s BORING.
BUT, that is the WEALTHIEST people's competitive advantage.
They’re willing to do the BORING stuff.
Which is AVOIDING doing DUMB things.
Which is THINKING. And TAKING A STEP BACK.
Which is UNDERSTANDING HOW THEY MAKE DECISIONS
Which is UNDERSTANDING THEMSELVES
So we encourage you to do the BORING things
Like doing your own research. Thinking for YOURSELF.
And of course, making the BEST decisions for YOU
With that being said, I hope you learned something new today, and we will see you in the next one Spartans!