Bitcoin critic Peter Schiff recently raised an important question to Elon Musk, addressing his concerns about losing followers. Schiff, a well-known advocate for gold and a vocal opponent of Bitcoin, has been experiencing a significant decline in his follower count. Speculation arose among users that Schiff’s constant criticism of Bitcoin may be causing this decline.
In his post, Schiff asked why he has been losing 500-1000 followers every night over the past month, preventing him from surpassing 1,014,000 followers overall. Several users engaged in a conversation discussing the potential reasons behind this decline, with some suggesting that Schiff’s negative stance on Bitcoin may be driving people away. One user humorously mentioned that it’s no surprise Schiff doesn’t understand Bitcoin, given his constant pessimistic views. Perhaps people have become tired of his repetitive “the end is near” attitude towards Bitcoin.
While Schiff hinted that Elon Musk, the leader of the platform in question (referred to as “X” in the article), may be involved in his follower drop, it is highly unlikely that Musk is directly affecting Schiff’s follower count. Social media platforms like X, similar to the Bitcoin market that Schiff critiques, are unpredictable. However, the most probable explanation for Schiff’s decline in followers is the presence of bots. X actively combats spam accounts and bot farms, which engage in mass-following tactics.
Schiff’s situation serves as a reminder of the intricate workings of social media algorithms that can often perplex users. If your follower count decreases, it may not necessarily be due to inadequate content management but rather an outcome of platform actions.