Il Capo of Crypto

24 Oct 2023

So far, it shouldn’t be a novelty, but as you may know, “X”, or “Crypto Twitter” (are we still allowed to call it CT?) it’s a funny space - to say the least.

You can find every kind of species, from glory seekers to profitable traders, to angry reply guys, to full-on larps. Well, I won’t be calling no one out, because I am no one to be doing that. However, some behaviors should be condemned, although not in the proportions that we are seeing in the specific case that I will present in this article.

If you are remotely active on “X” (not to be confused with ecstasy, because one can only assume that you would be “remotely active”) perhaps you hear someone mention the “Capo of Crypto”, a pseudonym choice that per itself shows a sense of grandiosity, a name that alludes to a persona of great power and an out of this World capacity of decision and effectiveness not often to be seen in common mortals. Well…

I don’t know if you are familiar with the tale of Icarus?! If not, I will teach you a cool Greek mythology story. C’mon man, It only takes 15 seconds:

Icarus, and his father Daedalus, were made prisoners on the Island of Crete, and to escape their confinement, Daedalus as a handy craftman by profession constructed two pairs of wings made from feathers and wax. This would allow Icarus to fly away. However, there was one rule:
- “Do not fly too close to the sun” said Daedalus, to his son. Excited by the newfound ability to fly, Icarus disregarded his father's caution and flew higher and higher, approaching the sun in a display of reckless enthusiasm. As the wax melted, the wings disintegrated, and Icarus plummeted into the sea, where he drowned and died.

The End! (Told you it was fast)

So, it’s not hard to understand the moral of the story. Actually, there are two. One is, that Icarus was a big dreamer, the only problem was, it’s ego, was as big as his dream. Second, is the consequences and dangers of ignoring sound advice.

If we grab these two examples, we can apply part of them to the “Capo of Crypto” situation. This gentleman, a self-called “trader” is known for some absurdity in his posts, due to hyperbolization in his bias charts. When the market is bullish, the Capo of Crypto, it’s the biggest bull of them all, when the market is bearish, polar bears envy the skin, used by this “trader”. This was the case. The crypto market was getting hammered, and it was easier to be a "doomer", than a "savior". I mean was more obvious that the price could drop, than rise. Our protagonist chose that route, and defended it with his life, to the point it started getting stupid, due to the bias levels (you could feel it in Jupiter). And that would be okay, if, there weren’t lots of people relying on this man’s word. And fair enough, “It’s their fault”, “They choose who to follow”, and “They should know better”. Yes and no!

You cannot blame a newbie, for trying to learn, and absorb new information. But you can blame someone who shares an opinion like it’s a fact, and not a hypothesis feeding from the “dreams” and “hopes” of his followers. I mean you can blame someone who lies repeatedly without an ounce of guilt, and definitely, you can blame someone, who considers the size of his follower base, and shares opinions without thinking about the possible consequences.
Perhaps you have to absurd egotistic levels to not see this as a problem. But it’s still a problem.

Even though I am not a fan of the guy, I am also not a hater (you have to be good at something to have haters), but unlike what I said at the beginning of this text, (because you have to understand that is okay to change bias), maybe the man had it coming and maybe all of this is backlash it's well deserved. And I am saying this considering the cowardly way that the “Capo of Crypto” decided to “abandon” CT, sharing a text making seem like he was the victim and the correct one, while everyone else was wrong. You can read it here.

There is absolutely 0 problem in being wrong, but you should own to your acts, especially if those acts can result in repercussions to your fan base. Also lying to everyone is bad, but lying and being caught by obvious larping, it's even worse. It's not dignifying of a "Capo", and therefore this man didn't live up to the legend with the name that he self-proclaimed.

All and all, it is a ridiculous and petty situation, but due to the bullish price action of today, "Capo of Crypto" is still being mentioned, not for the best reasons.
Perhaps a dreamer with a huge ego, perhaps someone who disregards the sound advice presented by others, one thing is for sure - This man is the personification of a bruised ego. A situation that he puts himself into.

So if you see the words "12K $BTC" out there, bear in mind (pun intended) that "Capo of Crypto" was one of the biggest advocates of this number. He was so full of certainty that he could almost have it tattooed on his forehead, due to the excitement of bearish price action. And that's the thing! Don't get too close to the sun, or you may get burned.

Thank you very much for reading. Hope you have enjoyed the article! Would really appreciate it if you could drop a follow on 👉🏽Twitter(X)👈🏽

See you soon fam!

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I really enjoy your article. Thanks for sharing
Also lying to everyone is bad, but lying and being caught by obvious larping, it's even worse.
Yeah but it's Twitter isn't it? It's ABOUT the drama. If you wanted to find good traders then pay a few hundred to a few thousand to subscribe to email lists/substacks of proper analysts. Twitter is about attracting an audience to then sign advertising deals. You can't build an audience without thrills AND spills. Of course they take wild positions and then refuse to concede. It drives more engagement and more engagement means more advertising dollars. Rage or Love, it's all the same when you boil it down to click throughs.
Sounds like Twitter to me 😂
Thanks for the article, very interesting
Always original and creative, it's a real pleasure to read you! :)
Nostr will take this mandate in the coming years