Author’s Forenote: If you show this to your friends and they call you dumb, take the L and move on. I’m not a journalist, nor am I a financial advisor.
Reddit user peacheswithpeaches has shown us the holy grail of cryptocurrency in the form of a coin that is poised to overtake even bitcoin itself! We are, of course, talking about Chainlink! With an absolutely riveting performance on the charts, we see that Chainlink has outpaced the growth rate of so many other projects in the past year and it is now on the 15th spot on coinmarketcap.com!
Of course, if we go on to check the rest of peacheswithpeaches’ post history, we see it is nothing but talk of Chainlink. The effect that chainlink has on an individual must mean that surely one day we will be able to consume Chainlink… right? Eventually we’ll be seeing threads in /r/medicine from peacheswithpeaches telling us about how Chainlink can and will eventually cure cancer! One day we will see a post in /r/worldnews about how Chainlink ends world hunger, and surely one day we will see a post in /r/videos showing Chainlink ending police brutality and government corruption in progress!
On a serious note, there are threads that we see in /r/cryptocurrency that were obviously created by paid shills. However, it is important to state that the nature and actions of one user or a handful of users shilling or specifically promoting a cryptocurrency is NOT conclusive evidence that a cryptocurrency foundation or creator actively shills their own project. What do I mean by this? I cannot say with 100% certainty, but I imagine reddit marketing services exist in the form of companies that are 3rd parties to both reddit and cryptocurrency foundations. However, these 3rd party “reddit shilling” companies and their methods of “reddit promotion” are ambiguous in nature. Let’s say I make MLG420coin and I want to promote more traffic to the website and news articles surrounding it on other websites, I could simply consult a “digital marketing” firm and tell the firm that I am looking for “_______ number of impressions monthly. I don’t care how I get it as long as I get it.” And I’ve met people who created their own cryptocurrency that I believe have unwittingly used such a “shilling service.”
Finally, if you own a cryptocurrency foundation or if you have created your own cryptocurrency, you should ask yourself this question: “If my organization goes bankrupt, what will happen to my cryptocurrency / coin project?”