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Is Crypto Twitter Part of the Problem? 

For the decentralized industry, there’s a lot of centralized focus on one platform. If you’re in crypto, you’re on Crypto Twitter (Crypto X just doesn’t have the same ring). It’s almost part of the onboarding process into crypto at this point.  

Over the years I’ve covered crypto, I’ve had many conversations cite Crypto Twitter, which many simply call CT. The spectrum is mostly positive, just at varying degrees – from “I use it to stay up to date” to “I’m outright addicted.” 

I was late in the game to Twitter and only started to take it seriously when I moved to the U.S. from Australia. Before then, LinkedIn was my jam. Still is. But I don’t want to be that person pulling out a LinkedIn QR code at a crypto conference. Embarrassing. 

Crypto is an industry of extremes. It’s what makes it so fascinating to cover as a reporter, as there’s so much range. It’s being a tech, financial, policy, court and cultural reporter – all in one. Stories break first on CT and can quickly spin out of control. 

It’s a peculiar part of the industry. It’s as though CT defies the industry’s decentralization dreams, and people around the world coalesce in the one platform, in lieu of place. The human nature of hierarchies and community cliques is hard to rewrite. 

CT is, without doubt, entertaining. But for newbies and non-crypto folks, it’s intimidating. There are bright spots, but for the most part, the noise is hard to navigate. The people talking up their gains or projects, shitting on others, fearmongering, click baiting and the opportunists. 

It’s not a place I feel good about sharing my insights, ideas and observations, especially as a woman. Did you see how they tore down Caroline Ellison? The mean meme culture and commentary that targeted her looks was disgusting. What is with society’s obsession with how women look? 

This is not unique to CT, as all communities and platforms have a shady side. It’s just extra potent in crypto, where there’s fast money to be made (and lost), and decentralization’s distaste for old systems and ideologies. 

The irony is, I’ve found web3 conferences and communities in-person to be so welcoming, even when I’m one of the few women in the room. I’ve never felt a source treat me negatively for being a woman. It’s usually the opposite – many sources have said, “I’m glad you’re here. We need more women covering crypto culture.” I can’t say there would be the same appetite to help in Silicon Valley circles. 

So why is there such a chasm between CT and in-person? Maybe I’m meeting the builders and believers, not the people who are in it for the casino. 

Onboarding the masses into web3 has been a recurring conversation thread at conferences, and I think part of the puzzle is cleaning up CT and making it more inviting to newbies. 

Maybe this means only engaging in communities, consuming content from a list of favorite profiles, and tuning into Spaces. Maybe it means taking the ethos of decentralization and having multiple platforms and places to get your crypto feed and fix. 

Granted, I haven’t tested out many decentralized social media platforms to do a vibe check, but I can’t imagine throwing the baby out with the bathwater is the answer. At this stage in web3’s maturation, it shouldn’t be a ‘Twitter or…’ question, it should be ‘Twitter and…’ In other words, we don’t have the luxury of throwing out the old (yet). Six-hundred million active users is no small number. 

Conditions will likely improve with time, as a regulatory framework is established, taking hype posts down a notch. Subcultures such as CT go through their own phases. As the crypto space matures and becomes less fringe, my hope is that CT grows up, too. 

Because Twitter’s bitesize format is the perfect delivery for easily digestible crypto news, insights, and education. Let’s just set some better standards, shall we? — Amanda Smith, Decential Media

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