Shill
Tue, Apr 15Shill or shilling refers to the practice of promoting bitcoin or an altcoin for personal gain within the crypto community. A person engaging in shilling is often referred to as a shill (among other terms).
Shills aim to attract attention to a cryptocurrency with the hope of increasing demand and ultimately raising the price of the digital asset.
Many well-known crypto influencers face criticism when they begin to shill every coin or token available, regardless of the project's utility or the integrity of the company and team behind it.
What makes shilling particularly problematic is that shillers may not always be completely truthful with the public or their audience.
Shills often present themselves as genuinely interested in a specific cryptocurrency due to its utility or potential benefits to the crypto ecosystem.
They claim to be simply educating and informing the retail public without receiving any payment from the company behind the project.
In reality, shillers are primarily motivated by the compensation they receive for their efforts.
This compensation can come in the form of a direct flat fee paid to the shiller.
Indirect payments, such as discounted coins from an ICO or IDO or presale tokens, are also common examples of compensation provided by the project team or other third parties involved in marketing.
Shillers promote a project through social media, which can lead to an increase in the price of the cryptocurrency they hold due to the heightened interest they generate. They then sell a significant portion of their holdings for profit, which can subsequently drive down the price of the digital asset.
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