Hall of Flame – Cointelegraph Magazine

Scott Melk is the host Wolf on the Street Podcast and author of the Wolf’s Lair newsletter.

“If I were tweeting about a small cap[cryptocurrency]right now, the price would probably change around 50%,” said Scott Melker, better known by his nickname “The Wolf of the Streets” to his 904,800 Twitter followers.

Melker said he took that responsibility seriously and would not share tweets that could “move the markets,” but it made his tweets “more boring.” In fact, Melker declared that Twitter “is no longer fun” when he hits 100,000 followers.

“That’s when I went through a real love/hate phase with Twitter, because I guess 10% of the people who responded to comments at that time were doing a spoof at any given time.”

All you can really post to your 900,000 followers is “bitcoin and inspirational quotes” because “everything else” will get you in trouble.

After graduation Payne Melk, who earned a degree in anthropology at State University in 1999, tried “a million” other things — finding the most success in his 20-year DJ career.

He also started his own magazine, 101 Magazine, in Philadelphia shortly after graduating from college, focusing on street culture and urban vibes.

It caught the attention of a “huge” magazine called Frank 151, which bought it, and Melk became editor-in-chief of both magazines.

During that time, he had the opportunity to party “crazily” and had contact with legendary entertainers such as Wu-Tang Clan and Outcast.

The music industry first prompted him to try cryptocurrency trading.

“I just happened to research cryptocurrencies because there was a bunch of DJs doing cryptocurrency deals,” he said.

He first started trading on the Gemini cryptocurrency exchange in 2016 and recalls buying bitcoin Send it to another exchange, Bittrex, so he “can buy Ethereum and Ripple.” In his cheeky, modest bragging, he noted that ETH was “less than $20” at the time.

The main draw, he says, is not some lofty goal but earning cold hard cash.

“I’m really just trading and trying to make money to support a new family; it has nothing to do with what bitcoin is or what the asset class is.”

What made Twitter famous?

Melk first started amassing a following while “trading the market well” and tweeting about it. Back then, his content was “100% Charting and Trading”.

However, Melk didn’t want his account to be transaction-based because it was “fickle.”

As such, he turned to a more holistic approach to content within the crypto industry.

“I’d love to tell you that I employ a few strategies to grow my account, but I’m always doing what I love most at any given time.”

Melker has observed a direct correlation between his follower growth and cryptocurrency market performance.

In the previous bull market, he experienced a crazy influx of daily followers.

“There was a time when I got 100,000 (fans) in two months,” he said.

Melk used to be “really responsive to everyone who commented on his tweets or messaged him,” but the ship is now sailing.

“It’s like a full-time job, and then you really can’t open all your private messages anymore,” he said.

But it’s best not to call him an “influencer.”

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

What type of content do you produce?

Melk’s content revolves around crypto news and keeps people updated on what’s happening in the market.

He likes to share his thoughts on what matters, and “what is noise instead of signal”.

“[My content includes]all the lessons I’ve learned on live streams and podcasts, but I would say it’s generally educational/informative content about this market.”

Melker emphasized that, given how many followers he has amassed on Twitter, he faces enormous pressure every time he decides to “tweet a tweet.”

“Twitter Like a movie where you throw a grenade across the room and walk away with a huge explosion behind you. This is how I feel every time I tweet now. said Melker.

Extreme Beef: Gary Gensler

Melker doesn’t like SEC Chairman Gary Gensler.

He acknowledged that his Twitter feed was filled with “angry tweets directed at Gensler.”

“I did contribute to #firegarygensler trending on Twitter,” he declared.

The problem with Gensler, he explained, is his recent regulatory actions, which he sees as “massive overkill” against cryptocurrency companies.

He believes it stemmed from Gensler’s embarrassment at meeting Sam Bankman-Fried before FTX collapsed and not realizing the fact that “he’s a liar.”

Spicy Beef: ZachXBT

Anonymous on-chain researcher ZachXBT accused Melk of pumping junk coins into his followers in 2021. It was a troubling time for Melk, who was threatened and the target of white-hot rage.

Melker vehemently refuted these claims, announcing that he would avoid tweeting about projects with smaller market caps altogether.

Melker said he doesn’t want viewers to get the wrong idea, preferring to focus on educational content. He reiterated that he is “passionate” about trading altcoins, but said that as his following grows, it can be difficult to draw the line between what should be talked about and what shouldn’t.

“You don’t show up one day in front of 900,000 followers and know what to tweet and what not to tweet.”

price forecast?

“There’s nothing more foolish than a price forecast,” Melker said. He should know, because he optimistically predicts that Ethereum will hit five figures in 2021.