By Ugly Bob | OCT 17, 2022
7:27 Min Read
Here you are, the bull market has come and gone. You thought your position was a winner and you didn’t think it would end. Those YouTubers let you down. All you have to show for it is a wallet full of garbage and a cold floor to rest your head on. Frankly, that’s on you. YouTube is the worst place for crypto alpha.
So you’ve decided to look elsewhere to attain your magic internet wealth. You’ve heard rumblings of a mystical place run by frogs where the money still flows. The rumor is that it’s on Twitter. You have Twitter but your feed doesn’t align with how they describe this frog city of gold.
You want in but where is the road to this amphibious El Dorado?
Let’s start our journey in absolute beginner mode. After all, building a proper list takes time and the job is never truly finished. Create a new account that will only house crypto followers. Your goal is to never have your personal timeline bleed into your new pseudo timeline.
The next step is to add the lead developers of the top layer 1 protocols, even if you don’t like Vitalik, Anatoly, CZ of Binance, or SBF of FTX. As these accounts are simply a springboard, feel free to add other layer 1 protocol leads. You needn’t look for bitcoin follows. They’ll inevitably bombard your timeline anyway.
Once you’ve got a list of 5-10 follows, it’s time to populate your follows further.
Note: Twitter is full of fake accounts, so make sure to exercise due diligence and confirm the account you’re following is legitimate. Ex. Visit their website, mentions in trusted publications, confirmed them by trusted colleagues, etc.
At this point, you can just follow everyone these leads follow, but it’s practical to take a measured approach to this step. It will save you time when ‘The Purge’ begins.
Simply begin following official accounts of protocols, networks, and Web3 products. In addition, Substack, Medium, and Discord are where these accounts mainly connect with their communities.
Look into the Twitter Lists of accounts you’ve now started following. It can be a great resource.
Not a lot of people use this feature as intended (and they can sometimes be out of date) but it doesn’t hurt to look. Following entire lists does help when scrolling through the Home timeline.
Once you’ve completed the above steps, it’s now time to use your brand new list for a week. That’s it. Read everything you come across for an entire week.
There are two goals here: To steep yourself in the basic crypto culture and to prepare yourself for the purging of trash accounts to come. Make no mistake, most accounts are trash. Reading them, however, helps develop the BS detector you should’ve had when you were watching YouTube.
Now you’ve got a sturdy foundation of crypto disciples and products relating to their protocols. It’s time to broaden your follow criteria to more idiosyncratic individuals in the space. This is the best part of CT as you’ll find many different demographics with interesting things to say about this new space.
By now you’ve probably noticed some accounts repeatedly interacting with your foundational follow list. These interactions could be (but are not limited to) reply threads, retweeted mentions, or quote tweets. Feel free to add them. Like I said, there will be a purge, so don’t feel like you have to discriminate yet. That being said, you should note if these accounts fit the following categories.
These people tend to fall under two branches that are equally outspoken.
Crypto protocols are essentially startup companies raising capital with a token. Team leaders from different protocols will always have a presence. This is for better or worse, as the space is full of Ponzi schemes and rug pulls. Honest protocols must have their leaders present and accountable on Twitter for that reason alone. It’s an effective strategy.
Another benefit of following accounts like this is twofold:
Team leads are great but leaders are nothing without the people working beneath and beside them. Some would argue these are better follows than leaders as developers aren’t married to their protocol like lead developers are. I don’t want to disrespect them but developers are mercenaries.
There are benefits to developers moving to different teams. This is similar to having a ‘friend in the industry’ as this person can provide perspective.
This class of Twitter account is another side of this industrial dice. They don’t build like developers. Instead, they create infrastructure and social networks. This is in order to develop trend markers and signals, which provide a better understanding of the shape of the markets these traders invest in.
A lot of these accounts also come from TradFi and will often post insight into the traditional markets. They aren’t the same markets, but they both affect each other to some extent, enough to pay attention to.
This is a more difficult category to discern legitimacy as many of these accounts tend to be attached to pump-and-dump signal groups who prey on members (like you) for exit liquidity.
Again, due diligence is recommended.
Another class of account that breaks the monotony of your timeline, especially in a bear market. These are generally bot accounts that translate data from APIs and chains into human-readable tweets. These range from market movement to liquidations to really any available data changes.
This is probably the richest source of alpha out there. If you’ve been on normie Twitter you’ll probably think one of two things:
Instead of subscribing to the two camps, you can instead understand the value of an anonymous voice in a sea of inflated egos and charlatans.
A rule I follow: Everyone is defending their ill-gotten gains. Just like a blue check does not equal wisdom, so it goes with a fat ETH address.
These accounts could be anyone. With the right indicators they could be people in the know. The tweets speak for themselves. Often enough VCs end up hiring competent accounts. A renaissance of the old internet is happening in the crypto space and I love it.
You’re a veteran now, so it is important to discriminate. Drop anon accounts as fast as you follow them. The opinions vary but they will be consistent in their information. Consistent people will continue to show up in your Home timeline.
We are almost ready to purge the trash. At this point, you should have several hundred follows. That being said, we are now done with copy following. Now you should have an idea of what kind of information you need.
Despite the advice given in this article, it’s okay to follow an account with good ideas. If it helps you make money, understand the space you’re in, or simply makes you think, then it is safe to keep them. This industry has too many different interests, too many personalities, and too many ways to make money. Trust yourself.
It is time to purge the trash accounts you’ve accumulated through this journey. Accounts that you first found useful or were curious about at first have served their purposes. Trimming the fat is the most important part of your Twitter timeline. A bloated list will certainly wear you down and discourage any engagement you once had with your timeline.
The technique in culling your list is simple: Instead of passing by an account you know has no value, simply unfollow them. Don’t second-guess yourself, you can add them again at a later date if they appear again with a valuable thought.
This purge can be done periodically in one night or become an ongoing habit. One way or another you must drop accounts of no value. Once you get a few purges under your belt, you can become more comfortable with both purging methods.
Congratulations, your list is now your own but you’ve really only begun your journey to the frog city of gold. As you march toward the promised city you’ll soon realize: There is no Frog El Dorado to find. It exists only in each person who makes the journey.