Hall of Flame – Cointelegraph Magazine

By Investor Empires On Jul 20, 2023

Scott Melker is the host The Coyote of All Streets Podcast and author of the newsletter The Wolf Den.

“If you tweet about a small cap (cryptocurrency) of some kind right now, the price is likely to change by 50%,” says Scott Melker, known to his 904,800 Twitter followers as The Wolf Of All Streets.

Melker says he takes that responsibility seriously and won’t share tweets that could “impact the market” — but that makes Twitter “more boring” on his end. In fact, Melker declares that Twitter “stopped being interesting” when it reached 100,000 followers.

“That’s when I went through a real love-hate relationship with Twitter because I think 10% of people who reply to comments have been trolling at any given time.”

All you can really post to your 900,000 followers is “Bitcoin Quotes and Inspiration” because “everything else” will land you in hot water.

After graduating from son State University with a degree in anthropology in 1999, Melker tried his hand at “a million” other things—and found the most success in his 20-year stint as a DJ.

Shortly after graduating from college, he also started his own magazine in Philadelphia titled 101 Magazine, which focuses on street culture and city sensibilities.

It caught the eye of a “huge” magazine called Frank 151, which acquired it, and Melker became editor-in-chief of both.

During that time, he had the opportunity to attend “crazy” parties and rub shoulders with legendary acts like Wu-Tang Clan and Outcast.

The music industry prompted him to experiment with cryptocurrency trading in the first place.

“I just looked into cryptocurrency because there was a bunch of DJs trading it,” he says.

He first started trading on the Gemini crypto exchange in 2016 and remember to buy bitcoin To send it to another exchange, Bittrex, so he can buy Ethereum and Ripple. ETH was “less than $20” at the time, he notes in a shameless modest boast.

Instead of some lofty, lofty purpose, he says the main attraction was making hard cash.

“I was just trading, trying to make money to support a new family; it had nothing to do with what bitcoin was or what asset class it was.”

What made Twitter famous?

Melker first started amassing a following when he was “trading the market really well” and posting about it on Twitter. At the time, his content was “100% charts and trades.”

However, Melker did not want his account to be based on trades because it was “volatile”.

Therefore, he moved to a more holistic approach to his content in the crypto industry.

“I’d like to tell you there are some strategies I’ve taken to grow my account, but I’ve always been doing whatever I enjoy doing at any given time.”

Melker noticed a direct correlation between the growth of his followers and the performance of the crypto market.

During the previous bull markets, he witnessed a crazy influx of followers every day.

“There was a time when I would get a hundred thousand[followers]in two months,” he says.

Melker used to “respond to literally every person” who commented on his tweets or sent him messages, but now that ship has sailed.

“It’s like a full-time job, and then you get to the point where you literally can’t open all your DMs anymore,” he says.

But it is better not to refer to it as “influencer”.

“I hate the term influencer because, to me, I’m just a student of crypto, and it’s something I’m passionate about and want to learn more about.”

What type of content do you do?

Melker’s content is all about cryptocurrency news and keeping people up to date with what’s happening in the market.

He likes to share his opinion on what is important, and “what kind of noise is not a signal.”

“(My content includes) all of the lessons I learned in my podcasts and podcasts, but I would say it is generally educational/informational content about that market.”

Melker stresses the enormous pressure he faces when he decides to “tweet,” considering the number of followers he has amassed on Twitter.

“Twitter It’s like a movie where you throw a grenade into a room and you go away, and there’s a huge explosion behind you. This is how I feel every time I tweet now,” Melker says.

Extreme beef: Gary Gensler

Melker is not a fan of US Securities and Exchange Commission Chairman Gary Gensler.

He admits his Twitter is filled with many “angry anti-Gensler tweets”.

“It really helped make #firegarygensler trending really hard on Twitter,” he declares.

He explains that his issue with Gensler is his recent regulatory actions, which he views as “hypercorrection” targeting crypto companies.

He believes it stems from a sense of embarrassment about the fact that Gensler was meeting with Sam Bankman-Fried before FTX’s collapse and didn’t realize he “was a fraud”.

Spicy Beef: ZachXBT

ZachXBT, a pseudonymous researcher on the chain, has accused Melker of pumping and dumping coins for his followers in 2021. It was a troubling time for Melker, who received threats and became the target of intense wrath.

Melker vehemently denied the allegations and announced that he would avoid tweeting about projects with small market caps entirely.

Melker says he doesn’t want his audience to get the wrong idea and prefers to focus on educational material. He reiterates that he “was passionate” about altcoin trading, but says it can be difficult to push the boundaries of what you should and shouldn’t talk about as your following grows.

“You don’t just show up with 900,000 followers one day and understand what you can and can’t tweet about.”

price forecast?

“There’s nothing that makes you look dumber than predicting prices,” Melker says. He should know this, since he took an optimistic swing in predicting Ethereum reaching five figures in 2021.