If you’re familiar with Bitcoin and the altcoins; you browse the social websites; and engage with the community regarding cryptocurrency, then no doubt you’ve come face to face with a Shill.
In the cryptosphere, a Shill is someone who will promote a certain cryptocurrency, typically using baseless information, for their (or their group’s) personal gain. The goal is usually to start creating strong interest from investors then FOMO (fear of missing out).
The price of the cryptocurrency usually goes through a false pump. This means that certain groups or people are using some of the above tactics to boost the price up i.e. creating false demand. In most cases the Shill hopes the price will pump so they can sell at a profit themselves, usually close to the peak of the pump.
The image above lays out a typical talk track that Shills will commonly use. If you browse the social forums, then you will definitely see the above (very often).
Although the image has been created for lighthearted fun. The underlying message hopefully is clear:
Do your research. Don’t buy/sell based on pure hype. Invest in, and support good technology.