Topic: Crypto misinformation is turning into an issue for people new to the game. (Read 589 times)

Even before scams are already everywhere that is why those who are naive to crypto were abused. In that case if they got scam already, they will spread the thing that happened to them and become an issue. With that, other naive individual will easily believe so when the right opportunity comes to them, they will not believe on it. There lot of scams out there so we need to be very careful. It is also the reason why I did not believe early on nft games like axie. But for me, it is still OK there will are other nft's out there that are also promising.

Your suggestion is worth considering because it is clear that there are still many scammers who want to make short-term profits through fraud and through new projects that offer very good offers, even though it is just a heavenly wind that they created.

Education is the key. I’ve encountered some of my real friends and social media friends regarding their negativity towards crypto. In the end, they just misunderstood on what crypto is really all about, as they only listen to those people who got scammed using crypto as front in various ponzi and networking scams.

I made them understand how crypto works like there’s no astronomical guaranteed returns, DYOR, etc. I’ve been educating some local communities and university students since 2018 about the real use cases of cryptocurrencies and blockchain technology, making them understand even more rather than listening to the media with misinformed content about crypto.

Even how many times we remind them about this matter, if the newbies have the greed in their mind in the end for sure they will loss the assets they have here in the cryptocurrency. So, the better for them to be aware of this things is that they must face or encounter such things like this
in the project that will arise here in the forum.

The nature of greed already exists in humans, it is true that many victims are currently filled with beginners, but that does not mean that the experienced can also be trapped in this situation. This market is getting bigger and there will be more and more scammers looking for short profits, so don't get carried away easily by something that is not clear.

That DYOR mantra chorused by crypto heads is not for play. Unfortunately doing researches are relegated to the background and people are caught up in this web of greed and avarice. Even seasoned heads can be caught and burned by this vice. People should always be advised to always look twice or three at projects before sinking good money into it

Cryptocurrency is not only an investment but a lot of Cryptocurrency Risks are really huge. If you do not really research and research, the money you have invested will very easily be lost. There are many DEFI projects and NFT projects underway. many of them were created by scammers. Not only did the NFT scam sites or DEFI projects disappear overnight, but I also found investment advisory platforms that are considered trustworthy. , is famously promoting articles with headlines saying in an alarming tone that they will surpass bitcoin this year or next. exaggerated publicity makes many new entrants in the market very easy to become prey to lose money unjustly.

there is a lot of good and bad news in the crypto world, so you have to be more careful in filtering the news so you don't get caught by something misleading. for a beginner deepening knowledge is important so that we don't easily eat bad news about crypto. crypto investment is not something that is detrimental or bad if we can use and follow it well, so it all depends on the mindset and also our respective strategies in managing and handling our own crypto assets.

A continous learning in short and this is really true because theres no such thing about pinnacle of knowledge that you could really have on this market thats why its just normal that you would really
be doing lots sorts of things for you to gain experience and able to know on how the things works here on crypto space.Its just understandable that being misinformed would really result
into mistakes but once you had committed it out then you would definitely gain experience and knowledge for you to avoid it on second time around.This is usual but there are people
who doesnt really improve despite the experiencing things.

I do not know why people take everything they read as facts. This is not true in life and would not be true in crypto neither. It is obvious that we would get some misinformation because misinformation is all around us.

It is regarding politics the most, every single news outlet will tell you a lie based on which party they support and this is true all over the world, but there are misinformation regarding sports, misinformation regarding education (each nation makes their history look like they were hero's when in reality each nation has bad past) and basically in everything life is all about. So, misinformation in crypto is not something unexpected and you should be looking for the truth yourself instead of blaming your misinformed ideas on the sources.

All people who want to make money on the crypto market shouldn't stop their development in this sphere. It means constantly following the latest news and technologies. Even if you want to focus on one sphere, try not to stop learning something new all the time as you can advance your strategy within time!

What is more, be ready to change your sphere one day, as nothing is infinite, so you should learn how to change your strategy and start doing something new.

I agree with what you said about newbies and falling for fake information and scams. But when you suggest educating new people, which platform do you intend we do that? Is it on twitter, facebook, etc, or here on bitcointalk?

The ones who are not lazy can save themselves from many troubles! Tulusikhlas has a point as well, we are all faced with numerous stuff everywhere around, but how we perceive information we get from anywhere is an individual thing!
So I can agree with both, the higher level of mastery and understanding will help in sorting out information from misinformation! And of course, new people in the game can have a built character and understanding how important is to research everything you can before you make a move!

Misinformation is an issue and that can become an even bigger problem if you trust it with more than you can afford to lose! So before big moves and taking big risks, or any kind of risks check things out, don't be lazy... newbie or an old player, we can all make a mistake if we don't keep our eyes and mind open!

Not all newbies are lazy, even some of them are much more active in finding and digging up any information about cryptocurrency because basically they also want to know more about new things in cryptocurrency.

Actually, it's not 100% wrong information, it's just that the level of mastery and understanding is diverse and not at the same level as what he knows so far about crypto. We are only served with instant news in general. While beginners don't really want to find an in-depth discussion. In some cases misinformation is far more relevant than misinformation.

I always tell my friend before investing to take a few more days and stop being excited about the coin that they are interested to invest in and read articles on the risk of investing and watch videos explaining the many traps and pitfalls of investing in Cryptocurrency, I explain to them that the market is highly volatile even experts are losing a lot of money if they sober and 100% sure then I let them invest.
People should be comfortable with what they know 

The internet is full of misinformation and fake news that can trigger reaction leading to gravitational pull that can affect and enhance the cryptocurrency market at both ways. Many newbies in the cryptocurrency world need to get authentic information or else they might end up losing there funds buying scam projects and investing the the wrong paths.

This is your friend just basically trying to "get rich quick", and it's not really something unusual with crypto newcomers, every now and then there is one newbie or the other, who knows absolutely nothing about cryptocurrency, but views it as a lottery to big wealth, but the thing is, more often than not, such people end up not making any ROI whatsoever, but just loss of funds, either through wrong investment or scams.

The issue somewhat still stems from misinformation, many of this people were not taught properly on what actually crypto is, how to use it, it's risk concerns, coins that are actually worth buying, etc, they were instead given the impression that it is so easy to make ROI with even little or no effort, looking at crypto users who actually follow the right part and are tutored by the right people, they hardly make these 'popular' mistakes, and in the long run, they make great profits to show for their patience and desire to learn.

Internet serves a significant help to everyone in the aspect of fast communications and we may learn various of knowledge because internet is a vast platform that serves a lot of services. However, the issues of misinformation leak through the web without a proper tracing which one gives a definite information was one of the drawbacks that I think made a lot of people mislead to the thing that they must really know. Number of victims of scamming also rises nowadays because many newbie been excited to join the community being trapped with scammers, it is alarming, and we can give a big help to those person that we know personally to educate them about how to look for a reliable site in the web before they going to join in the crypto community.

It has been so common in the cryptocurrency industry to be one-upped by someone over things like this. Some people even see it as a rite of passage that one must take in order to become a learned cryptocurrency investor. Obviously this shouldn't be the case no matter the circumstances but without a good plan of action, we can only hope to prevent it. This is true. Scammers love to prey upon the gullibility and the lack of information of newbies which is why they love them the most. Honestly we can't really prevent scammers from scamming other people but what we can do is invest in the knowledge so when the time comes that you encounter a hacker or a scammer trynna trick you out of your hard-earned investments, you are well-prepared

Unfortunately, the scammers keep hunting the new blood on social media and forums. There is nothing we can do, it is the responsibility of the person to check the contract address and try to verify everything before processing the transactions. Otherwise, such bad things will keep happening no matter what we do. Educating the newbies is not enough, fighting scammers is not effective method, we need something that can verify the user knowledge before they jump the to the crypto industry.

To make any investment plans, you must first invest in your information, it is extremely important to survive anywhere, and the same is applicable with cryptocurrencies, only the informed always stay ahead of the game, just like in the squid game.
This is why the forum has created a specific board for newcomers who wish to learn more about the forum, bitcoin in general, and how to avoid scams and fraud.

However, no matter how quickly information about new projects is obtained, there are people who are always one step ahead of everyone in terms of new projects, particularly venture capitalists, making it difficult to obtain them at a lower cost.

There are more websites now that just provides their referral links of scam projects or projects that didn't really exist but just fo the sakeof getting investors whom they might victim for their plans to do scam projects. The truth will only be discovered when we fully research the project, team goals, and how they implement their projects. Not all we see on the internet is true, not all projects will give profit. It’s still a matter of experience and how serious we are in finding out whether these coins will have profit or not. Entering the market is too risky so they must b prepare to experience some lost.

this becomes very dangerous when everything is not done properly, because this has little effect on the readers, so when there is information that is misread by beginners and they apply it as a reference they are here and tell other beginners then more and more people will stray from a misinformation.
and this cannot be handled quickly because problems like this will continue because the negative impact of the availability of internet access if it is misused by people who have certain goals will be like this.
but perhaps the anticipation we must have is indeed serenity and not easily influenced by anything.
at least this can be useful instead of you joining in on misleading fomo and hype

It's tantamount to inaccuracies just in a different way. Actually people who deliver crypto news are not stupid, because they are only looking for fame and not taking risks that get out of hand. So back to the news recipients because they must know the truth of the information. Obviously, this is due to the lack of a comprehensive level of information retrieval.

There is no way a newbie won't make mistakes at all no matter how hard you try to warn them, but guess what? This is why mistakes are good sometimes it's the only way we will ever grow, we have to make mistakes before we move forward in life so the best advice is we should keep advicing newbies to educate themselves before jumping into anything instead.

Since internet became widespread, misinformation has become a huge problem for everyone, not just people who wanted to get in to crypto. There are tons of inaccurate and misleading materials out there that does not help anyone. This leads to lots of losses in $ and lots of negative impression on cryptocurrencies. At the end of the day, it's still a DYOR and invest at your own risk kind of environment, but if you can help educate, do it to save someone from losing their money.

It is very important as a newbie to calm down when you’re making decisions in the market. As a newbie I never rushed, I made a character for myself to always calm down and look into things before I make my decision. Whenever I received a news I make sure that I first wait to verify if it’s correct or not before I start buying in whatever the news has to say. It has helped me a lot. Some newbies will come and within their first period they are already investing in cheap coins that they know nothing about.

I had to invest in Bitcoin for a long time because I was trying to play it safe, although there are no regrets because Bitcoin itself is very profitable than mist of these altcoins, if not all. When I started investing in altcoins I have already gained much more experience and able to tell easily when a project is a scam or legit.

Sometimes it's the user's fault. Being new to the game is not the reason why they end up being scam. Greediness and laziness are always there. If only these people, like your friend, use their common sense in that scenario, they will be saved from being fucked by that scam coin. Moreover, that experience should teach those people who fall on scams. I've known some newbies that know how to differentiate the scam or not. If they did, others should can.

Due to some good activity in social media It's going to have very bad impact on crypto because very few peoples following real channels and news sites for all truth and solid news mostly newbies jumping in this way which is hurting them very badly and currently on one able to give them some better understanding and guides.

I check many newbies fall into beautiful headlines and for very quick profit they invest in scam projects or dumb coins which end in lost, and they have nothing at end they must have to check authentic news or channels for this all and then after better understanding then can take some good return.

Anyway, this is part of the space, and we are always trying to help all newcomers, but their skepticism will cost them other things if they don't want to trade their trust.
Those who rely too much on news influence also need to review their sources as well as draw their own conclusions after the news they receive, personally I think news in this field is just a Part of the important factor is psychological control before the news.

The whole cryptospace is a really wild place and can therefore be very dangerous especially for people that are new to this kind of environment. Here we have a lot of scam projects, that are created within a day and their only purpose is to do a rugpull. Then there are the hundreds of meme tokens that came up in the last weeks and months. I am pretty sure that projects made a lot of newbies lose a lot of money and only a few lucky ones made profit with them.

always happens to people who are new to the crypto bussiness circle. they are tempted by the promises offered without seeking deeper information and more sources. and for education like that, it seems that many have done it. but maybe the information not reach to them because they may not find out about it in the first place.

Actually, some years ago people suffered from the lack of the information, and now they are suffering from too much information, unverified information that can be just advertisement from bloggers sometimes and people believe opinions of more experienced players and follow them. But we shouldn't rely only on others and learn how to make money on this market on our owns.

But are you sure to think that trading and investing in bitcoin is something that can be considered a money game?

Some time ago I had an argument with someone who said that bitcoin is a money game where he said the price was beyond logic. I don't think it's good to argue with stupid people and don't understand what bitcoin is because in the end you will lose by their selfishness and stupidity even though you have shown them facts and evidence. That's what I do. You may need to clear up any misconceptions about something that has great functionality like bitcoin and you shouldn't call it a money game.

That's what influencers do to influence their followers so that they seem to believe 100% because it shows success, without following up on the truth of the information obtained. Everything is considered right and not wrong at all. We see this phenomenon a lot, especially when a severe pandemic causes people to tend to look for shortcuts to maintain life.

This is very unfortunate and something that is rampant when it comes to financial stuff.  Being a financial advisor I am constantly meeting with clients who are always saying "so and so at work said this about the retirement plan" and 99% of the time the information is not only false, it's hurtful (meaning it often does a great deal of harm to ones portfolio)..I see the same here on bitcointalk.. it AMAZES me that so many people are willing to talk out of their ass like they do.

This is one of big mistake by newbie since mostly they always goes hype on something they think profitable that's why they are the favorite target of scammers since they really don't do a proper research on what they are going to invest.

Also they are the one who will defend if there's someone debunk the platform where they put there money on and try to invite more in the name of earning a referral.

And for the scamming happens which is totally visible hopefully all will learn a valuable lesson since that incident is really an eye opener to those people who believe that there's an easy way to earn money.

Lack of information is the common enemy when something new is being introduced to people, and since cryptocurrency is on the rise, some people lack the knowledge to actually determine what could be a scam and what could be legitimate, if your friend didn't confont you he would have actually lost his money.

Fact checking is something that we actually do not do whenever we invest (this is common to newbies who lack information or literacy when it comes to identifying what is real and what is not), especially when we get blinded by the project's fake promises, and then *poof* the site is gone, everything disappeared, and also the money you invested.

If those new people can research before investing and not just by reading news, they will not get in the trap of scammers. Sometimes, they do not want to search for more instead just buying the new token and expect to make a big profit in a short time. That can happen if the project is really good and can convince the investors and have good progress or movement in the market.

However, that is not easy to invest in one or two new projects if we do not know much about the project and many of them are using big money to buy at first. That will not recommend for them as they can lose the money anytime.

wrong information often creates problems for us beginners, sometimes we are just learning to invest in bitcoin, feel doubtful, because we always hear negative news about bitcoin, and sometimes we beginners easily believe the media that posts negative things about bitcoin, now I will continue to invest in bitcoin, from now on I will never trust again, with media or posts that spread false news about bitcoin..

Being skeptical and using your common sense to whatever information we see in social media platforms is really a good trait for people who's still new in crypto world and it will definitely save you from fraud/scams. Just like what most people say, If its too good to be true, then it probably is. So always seek advice for veteran people in crypto and take it into consideration for your decision making.

Common sense sure, we could probably do with more of that in the world. However, misinformation isn't something that is easy to spot when you are new to something. Bitcoin is also incredibly complex, and some of the misinformation out there isn't actually intentional. You only have to go over the Development, and Technical Discussion section, and you'll see users getting it wrong unintentionally all the time, that isn't a problem though, it's when someone thinks they know something, and decides to make a guide or educational post about it, which we've definitely seen in the past.

Truth is, no matter how you want to say it, someone will always fall a victim. Crypto scams started long ago and since then, there has been threads and blogs teaching people how to spot them and how to keep away from them, but, even as I type this, it's sad that someone is falling for some fake investment scheme. I'm really hoping that they apply common sense when they face scammers and if they fall, I hope that serves as a lesson. Besides, I don't blame the newbies: these days, fake/scam crypto projects are disguised!

I don't think this forum or any other forum is the problem, yeah there's misinformation here, but when it's posted on a forum like format it's more likely to be called out by other users, and debunked. I think it's the news sources that the general population sort of trusts even by just reading the title that's the problem. I have no solutions to the problem, since the only way you would be able to do it is via censorship, and that definitely isn't an answer, potentially governments could be persuaded to bring in legislation, after all they should really be against misinformation, even if it's for a currency that they might not want to support.

Thing is scam would be always everywhere. Everything that would involve money and worse it is being done digital. This time I am wondering if my colleagues are going to be scammed anytime soon, now that NFTs are like pretty hyped here in my country and they buy this and those relentlessly just because a certain "someone" referred them that it would go 8x or even to the moon. It is a dangerous world out there, OP.

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OP, this thread seems to be more fitting in the Altcoin board since it is not focused that much to Bitcoin.

Fake news are everywhere. It's not just about crypto currencies. If someone reads a news and starts believing it without even trying to find out if its true or not, then its the users fault for being extremely gullible and not even trying to verify the facts. Read news from authentic sources. Try to verify the claims. Don't read random clickbait facebook or twitter posts. It's that simple, isn't it?

It's a common issue, especially on the forum. But it's not hard to verify a subject to the internet nowadays. You can't trust blindly in the internet world. I know a lot of misinformation threads around the forum. But I notice then mentioned there, so others could read it. Sadly we are very lazy. We become conscious after an incident. Before that, who cares?

So just be careful from misinformation spreaders. Don't trust without verifying information. If we don't have enough knowledge about cryptocurrency then spammers could confuse us soo quickly. It's quite important to learn in a proper way regarding cryptocurrency to identify misinformation ad well. Otherwise, we don't know who is right and who is wrong.

Indeed, there are more fake information regarding crypto and fuds are spreading quickly. But looks like, you're talking about shilling groups where any shit/scam projects are promoted as those will take bullish rally and everyone's will be next millionaires. We can't stop those shillers as they're everywhere and even many of those are on forums to shill projects. So we just need to be aware from those shillings, thus we can prevent any losses, IMHO. 

You are right, there is such a problem in the crypto market. The flow of information about the offer to invest in cryptocurrencies is very large and, of course, there is misinformation or, in other words, deception in the flow of this information. Only an experienced player can identify a deception on their own, but beginners very often believe in beautiful headlines and deliberately invest in a scam. To avoid losing your funds, you need to learn to distinguish between real information and deception, but this can only be done through personal experience. You can end up asking for help, but where is the guarantee that you will not be deceived even there.

It's not the accuracy of information, it's more on the people that are ignorant and that they disregard or don't do any research first because they think that cryptocurrency and all of it's affairs are pretty easy. Plus, a lot of dumb experienced crypto users overhype crypto to the point that it's a lie already.

Its all about perspective my friend. Considering something as a game doesn't mean that you can't take that thing seriously. A game is a concept of how you will play your cards the right way to win. And winning in this perspective is earning.

I think that it must be a mandatory for those who plan to register on exchanges to pass Cognitive Abilities tests because people buy coins blindly. I don't take seriously someone who buys Shib coin after reading meaningless posts on reddit.

It's just curious, person sees a coin on telegram groups or somewhere else where there are signals whether coin will rise or fall in certain moments and people think that these kind of signals are real. It can be real but after all, it's scam project where the owner / main group is prioritized and you are looked as their puppet. Maybe they benefit you with some signals but some will fail for you but not for them. It's just very funny when one person tells you that he will do all the research, etc just to benefit you and make you rich and then you blindly believe that.

Behind this industry, there's immorality and cryptocurrencies are made in a way to attract people and make them believe they can become richer by investing on them. What happens is that they act at the expense of others.

For example, a millionaire may advertise themselves along with a new token and suggests from their crowd to invest into it. Once the millionaire wants to “cash out” their crypto-belongings, as what most of the millionaires who enter this field want, they'll harm the rest, newly appeared investors who think likewise.

The system encourages this expense; let alone the spreading of misinformation which is usually propaganda.

My advice to the newcomers is: You wanna make some hard cash? At least read what the hell you're putting your money into it. Educate yourself. Don't let others put the fish in your mouth; learn fishing!

I want to know Why is this considered a game?

Bitcoin is not a money game and I would never agree that someone would be right enough to call it a game. Bitcoin is a modern payment system where users can easily send money to recipients anywhere and anytime without/ with a much better level of privacy compared to bank transfers. Bitcoin has a good reputation as a currency and bitcoin has also helped users to benefit from other functions. Misuse of functions is a natural thing for irresponsible people because they want profit so that the negative effect will lead to bitcoin. Ponzi investing, other scams in the name of bitcoin are some examples of real money games but that cant be the reason why bitcoin is called a game as it is only misused as an instrument for personal gain.

Newcomers should be well equipped with knowledge before they use their money for investment. Basic knowledge is mandatory for them so as not to fall into misleading investments. There is no reason to even try because losses are real things and can even happen to anyone if you are not careful.

Crypto currencies are ideally suited to the gullibility and greed of people, because the price possibilities are outrageous. People have seen what one tweet from Elon Musk can do to Alt coins like Dogecoin or Shiba Inu .... so their normal judgement are clouded, when it comes to anything Crypto related.

They also saw what happened to Bitcoin's price since it's launch and they are hoping that some obscure token can do the same. It is things like this that are driving the hype and the greed.  

Usually the application of this information when a person often does not know where to refer to accurate information. While recipients of information such as beginners tend to prioritize the results of points only. Like most crypto news which only shows profit, on youtube videos, Tiktok and other social media also those who deliberately display profits but do not fully understand crypto flow.

Misinformation and fake news will always be around us especially in the crypto world where knowledge is an advantage. That's actually the reason why newbies are always advised to do serious research before entering the world of investing and trading. It isn't right to believe in everything that we read online so we should do a long process of learning and discovering.

I think it won't help to much, if you search a Bitcoin information on google you'll get many misleading sources and not from bitcointalk. This forum doesn't have enough SEO rank to beat some top sources (e.g. cointelegraph, bitcoin(dot)com etc).

I don't know it's bot or not, but merit amount has an impact to be appeared in the top result if you include "bitcointalk" on search box.

And that is one reason why they fail because they become greedy and misinformed. People think that this was an investment to become rich, they keep that belief until they found it wrong and leave. But for those who clearly understand the risk in crypto, the more they become resourceful and the more they become careful with their actions and decision-making.

Thus, if we are new to crypto investment, we shouldn't be confident enough of what we've know from the internet alone, it sometimes needs to experience and do market exposure just to know how it really works.

Maybe a solution is to adopt a top answer feature in the forum. Let's say there's a misleading info thread, A bot can automatically choose the best answer based on the merit received of a certain post just like on Quora which really help user to filter the quality answer out of the garbage post.

That's the problem that's trying to be highlighted here. People can do all of the research that they want before investing, but the issue is that there's a plethora of misinformation out there, and for someone who's new to investing in cryptocurrencies they likely don't know the reputable sources, and they can't exactly validate any new information they've read. This is the problem, while there are quite a few resources out there which try to minimize this, it's hard because new users are likely to be more encouraged to click the click bait titles, that the misinformation usually deploys as a technique of spreading the misinformation.

This has been a problem ever since. And, admittedly, this is hard to combat. For as long as the crypto market is showing proofs that it is indeed possible for a token to grow double or triple in price in just a matter of days, there will always be people who will risk investing in unknown tokens. The risk is always high but since the reward is also high, there will always remain some who will take the risk. Education would help, of course. But when it goes contrary to what some have actually experienced, its effectivity would lessen.

That's why it's highly recommended to everyone before trying to invest, they need to make their own research and minimize the possible loss by investing only some small amount just to gather experience. not to put everything in one time thinking that it will double in the next week or month. seriously their not investing at this rate, they're just doing some suicide mission where all their money has been put on the table. they are prone to lose everything if this is the case.

I think this is the purpose of the scammers making newbies who don't aware with scam news got trapped by them and make profits to them, if we look back at the history we could see the pattern if crypto price created new all time high there will be a lot of fake news or scam after. Why ? it's because the scammers knows when crypto price create new ATH means there are a lot of new investors who can get tricked by them and that's why there will be a massive drop after all time high.

From Bitcoin's very inception there's been gross misinformation even from supposedly reputable news sources. I have caught, and observed the BBC promoting misinformation or even scare mongering from using Bitcoin, based on loosely based accusations, without any substance. I found that instead of taking the responsibility themselves they were quoting other articles from tabloid's in the British Media, without actually verifying their claims. Instead, they were using words such as supposedly, or claimed probably to cover their arse if someone actually challenged their points. Though, by simply sharing or reiterating the point of their media, they were convincing their readers to stay away from Bitcoin, as they should know that the general public consumption is based on the title, and potentially a few sentences in the first paragraph of the article, and even when their readers do read the entire article they usually aren't actively approaching it with a conscious mind, and won't identify the type of language they are using, like the ones I outlined above; claimed, and supposedly.

Point being; Bitcoin has always struggled with misinformation, and I find this is the biggest roadblock when I have discussions about Bitcoin with others; they always seem to bring up past articles that the BBC, and various other news sources had written up, usually trying to paint Bitcoin in a negative light, and when that's already embedded in their minds, it's hard to convince them otherwise.

Potentially, I would argue that more, and more people every day are becoming aware of how the news, and other sources of information are pushing some sort of agenda. Plus, we have a plethora of archive websites, and fact checking websites. I'd like to think, and I do believe it's the case that people are becoming wise to it.

They probably do exist to some extent, although the rich prime scam is a pretty commonly talked about scam, and probably isn't even that effective when it's involving fiat currencies these days. Though, there are definitely more sophisticated scams circulating about both in cryptocurrencies, and fiat. Bitcoin years ago tended to appeal to a certain crowd, and while it's stereotyping to a degree, I believe it was somewhat true that in the early days Bitcoin appealed to those that were interested in computers, and cryptography, and therefore they were at least a little more resistant to the more obvious scams. However, as Bitcoin becomes more of a mainstream interest, then the potential for scamming increases.

With the increase of the amount of information that we are getting in this day and age where the whole world is connected by a small click of the button it is obvious that we will be getting a lot of information that are useless and a lot of information that are used to scam or mislead others, and this is not specific to crypto or bitcoin, and if you are on the internet you should obviously know where to get your information and how to check their credibility so you don't fall into the trap of scammers.

But how can we educate people other than centralizing information?

Unless we all get together and create a Wikipedia of sorts misinformation will always happen

Newbies are very vulnerable to scam. They don't know basics and I agree with you that basic websites like coingecko or coinmarketcap are what newbies have to know if they are serious with their capital and investment in crypto market.

https://coinmarketcap.com/
https://www.coingecko.com/en

The forum is good because here you will get many reminders that shit altcoins are bad for investment. I ignored those reminders but after a few years, I realized their value.

This has been a problem for years. I remember talking to this guy who considered investing in some random altcoin, and he didn't even know there were websites like Coingecko that allowed to see the market capitalization and other crucial data about various cryptocurrencies to make up one's mind. Some people who invest in altcoins don't seem to understand how many other altcoins are offering the same stuff, and it keeps working even though there is a lot of information about cryptos online. But overall, I think this forum is a very helpful place for newbies because they can ask about coins and there will almost always be someone to tell them that it's just another shitcoin.

It's literally a thing in anything really, whether it be a type of investment, a community heck even a game could have misinformation, just that the damages dealt is different from each community. Damages in crypto scene is pretty much as big as the amount you actually invested, and that's pretty big imo. Mostly because misinformation comes from people being scammed instead of the market actually destroying them. Pretty sure getting destroyed by your investment is a lot a better option than getting destroyed by scams.

there's lot of frauds actually reason there are some people that can obtain wrong information especially newbies which is always the main victims around the internet and probably even here in forum. And it's not surprising in my personal because of greediness of some people in crypto, they all think it's all about free money and through easy work they can earn good amount of crypto. I mean without doing any research to obtain specific information, common reason they always fell to scam activities from frauds. They don't have consideration for short.. Lol

It turns out that having free capital is also dangerous . Those who have it must learn to properly manage their assets. Since scammers often write about a limited offer, the speed of decision-making is important to them. And who can fall for their bait? Someone who has money ready to invest.
Some begin to think and check, while others, due to the fact that the "supply is limited", are in a hurry to part with the money.
 To misinform people about a product or project, scammers do not spare advertising, and people who can be easily seduced react the fastest.
Older people trust scammers, hoping to secure their old age. Young people have heard a lot about the ups of some people who were able to get rich on the growth of cryptocurrencies, they believe in miracles. If a person is desperate for money, they can easily fall prey to deception. And about greedy characters is simply not worth talking about. Some don't even learn from their mistakes.

Unfortunately, this is the market we will in, there are so many scammers around who will take advantage of anyone, like promising good money as ROI. But as we said here, if it's too good to be true, probably is. So let this be a a lesson for newbies not to blindly invest their money on such projects that tells that investors are going to get X amount of returns. Everyone needs to work hard if they want to earn a good amount of money here.

these misinformation is caused by FUD's and other uninformed people spreading fake news, the only way to combat this is to research real information about cryptocurrency, there are many articles in the internet that explains what cryptocurrency really. don not easily believe the heresay of other people especially ones that don't really know what cryptocurrency is.

My question with misinformation, is whether it can encourage people to develop critical thinking skills and a knowledge base which makes it harder for them to be deceived.

I haven't heard of many nigerian prince schemes in crypto. Those scams mainly target the elderly, while crypto's average userbase is composed mostly of young people. Part of the reason the elderly are targeted for scams, could involve them growing up in a world without misinformation or the scams we have today. Which led to them not developing defenses against it.

The youth of today being exposed to greater disinformation, could sharpen their critical thinking to where they wouldn't fall for scams, previous generations would.

Topics like misinformation may not be completely one sided. But rather an arms race. One where disinformation, and defense against disinformation, are both progressing in an effort to outdo each other.

Every information, speculations or predictions that we see, it has to be verified first before believing them. There are really a lot that will misinform especially the newbies.
Because they're too easy to fall for those sweet words and promises and that's why they're also the main target of these people who shares misinformation.

I dont know how to predict altcoins or new project tokens which is I don't have time with them, all I know is how to predict Bitcoin and how I trust this coin.  People must do diligence before putting investment and don't believe what others say, you should have your own research especially those altcoins that most commonly will fluctuate the price every now and then or manipulating as a fraud of pump and dump group.

This isn't a game but rather than I consider it a sort of gambling, the real fact is, cryptocurrency's price movement is unpredictable no one knows when it will go or any direction, unlike if this is manipulated.

After all, you've got the answer.
It's all about us and as I said, when it comes to financial matters like investment, we should have our own research and we don't need to rely upon others opinions to avoid misinformations.

Crypto market will always be full of scams, it's easy to create a shitcoin, bribe some small unregulated exchange to list it and then hire shills to promote it. Or even skip step two and just sell it as a token on Ethereum blockchain. This is a lot like penny stocks but even more wild and unregulated. It should be a common knowledge to not trade small altcoins, but like with gambling, some people believe that they have luck and skill on their side. That until they lose their life savings on a stupid bet.

This will always be part of the market, what happens is that people come to this market thinking about all the profits they can make and they do not think about the philosophical approach that satoshi took when creating bitcoin, the phrase ‘being your own bank’ is not an empty slogan of bitcoin, it is the reality of every single bitcoin holder.

We are our own banks which means that all the responsibilities that banks traditionally took to protect our money now fall under our responsibilities, which means that newbies which are easily mislead by fake news invest in those bad projects thinking they have a safety net as they do with traditional banking when that is not true, then they lose their money and get disenchanted with the market when it was themselves which failed at their jobs of securing their coins, so while it is disappointing this still happens I do not see this changing anytime soon.

Not all the times that we could really educate out people on certain or various things specially on Bitcoin or crypto as a whole which means that they are really exposed into those so called ponzi and hyip sites out there which
do involves bitcoin or crypto as a form of payment which simply means that theyve been just dragged because of their greediness and sooner or later they would really be that exposed on whats crypto and thats
the time they would really be making out some research and see on whats the real deal and those scams that  they had engage earlier on.

Not only scam sites which disappear overnight, but I have also seen considered trustful, well known investment advisors' platforms promoting articles with titles stating in alarming tone an altcoin X or Y is going to overcome bitcoin this year or next year. The approach is always the same: they talk about bitcoin as an oldfashioned investment and then introduce a random altcoin as something revolutionary.

As consequence I see many newbies saying they don't have any interest for bitcoin. They prefer to totally focus their funds in different altcoins, what in my opinion is a big mistake, because bitcoin drives crypto market, not altcoins.

You can always try to educate people about this, but if they are too greedy for fast profits, nothing can stop them from wasting money.

This is the saddest part for bitcoin. This are the result what bitcoin got after this misinformation:

• Stock investors didn't get trust to invest in bitcoin.
• Those person who comes and invest then they loss for fud news. Then they start to trust mis information and leave bitcoin.
• After loss and leave for fud then they warn new people to stay away from bitcoin.
• Beauce of everything we lost new people

These are the sources who spread misinformation:

• Government. What general people trust most
• News channel, News paper what people also trust.
• Social media handle which is control via government.

I think because of them people easily trust misinformation. And what is the cause of a bad effect about bitcoin to the people.

Keep in mind, cryptocurrency is not just a game. Crypto is more of an investment in which there are many digital assets.
crypto risk is indeed very big. If you don't really learn and do research, the money invested will be very easy to lose or be deceived by scammers, like the story of your friend who almost became a victim of a scam investment.

As a beginner or someone who has been in crypto for a long time, knowledge of crypto must also be improved and research is very important to do. There are currently many ongoing DEFI projects and NFT projects. many of them are made by scammers who then hype them up to buy them immediately and then make a massive sale so that "RugPull" occurs. this happens often. Be careful in every investment.

Isn't this the point if someone's want to learn something?

While the internet is easy to access and almost all questions related to finance and investment can be seen there, there are still people who will just barge after hearing something too good to be true and invest right away without getting enough knowledge on the hows and probably end up being frustrated and scammed. It's not just for crypto but also to all finance related stuff.

It's unfortunate, but this level of gullibility isn't specifically exclusive to the cryptocurrency space. People fall for these stuff simply due to the fact that most people are totally ignorant when it comes to finance and investing in general. Stuff like this exists in the traditional financial system as well.

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.