Topic: Do your own research (Read 257 times)

in conclusion is to check everything in detail. Research is needed to find out all about the project that will be followed. Without doing research is the same as ignoring the risks that might occur. Projects that have just been launched can suddenly go bankrupt, especially new projects that still don't have good relationships. There is much to research before following it. What the OP explained is clear enough, you just need to run it.

One of the major reasons why doing your own research is over emphasized in the forums is so that no one will be held responsible for any negative consequences after investment because most times, when people make investments in cryptocurrency and there is a loss, they always look for who next to blame and that is why that very description is always put out for people to be held responsible for their actions rather than blaming someone for it.
To me, I think that very word is just a reminder that we are all responsible for whatever actions we take over here on the forum, hence we should be careful when making financial and investment decisions.

Take it this way, doing your own research is the simple tool that kills the job of the influencers who are paid to put out a bad or worst project to your face and try to convince you into believing there is the best investment, but with a little research and self-examination of the project, you get to discover that there a lot to it than what the promoter has said.

The same applies to every other aspect of the entire cryptocurrency market even Bitcoin needs to be individually studied for a long before you risk your money and don't follow the hype because it leads to depression.

A lot of investment has been wasted in the past on wrong projects and we can take a look back on the altcoin boom and all the other hype that has happened in the market till this very moment, but this day everyone is knowledgeable on investment as long you are ready to read you will find useful I formation that could guide your investment decision.

In this aspect I'm not commenting do to your composition but directly because of your subject. In that aspect of making a personal research is one of the things that give people insights for any development, I believe that with your own findings its what exploits some people, so therefore I will encourage every newbie to carry out its personal  test or research for the betterment of its crypto journey, so many people don't research but always be dependable on any person theory.

There's a lot in doing your own research about any project you want to partake in and the major one of them lol aprt from having a first hand idea about what you're going into is the area of having to accept the blame to what ever outxome that proceeds from your decision, it shouldn't be pushed to someone else. It's very much unlikely for humans to take responsibility if their actions so the need for the unending speakers on DYOR in crypto.

How expert some one in trader and having more experienced always said for us "Do your own research" when following their recommended coins for investing, I made research on every coins want to trade looking for how lower price in last seven days and how highest price in last several days. Important about do your onw research exactly with new coins for investing.

Have to check about the project background and which one have been their official partner for making coins have good foundation, but many people not research firstly when investing in some coins and allow other recommended without recheck later is worth to buy on that moment or have been late after price is pump.

Op I like this one,this understanding that you've given some persons that will just invest without making proper investigations and research about the kind of project they want to invest in.Some persons believe that as long as they've invested in the project,the project will bring out profits either in short term or long term,forgeting that there are several projects that remain dormant,you will see that they were doing well before,and all of a sudden,it will just get dormant.Reserch is the only way to know whether a project will grow or not,I wonder why some persons won't want to know about the kind of coin they want to invest in.
Every good investor  must have regular research and overview of the kind of projects he wants to invest in,he must also know when he is expecting returns from that project,and the right time to sell in order to avoid losing money.

Your second point and third point are still talking about the same thing, as for the fourth point, you can't know when to buy and sell simply with doing your own research, that's why mamy people on this forum have advised others many times to use DCA ( Dollar Cost Average ) to avoid missing the bottom, saying you know when to buy and sell is like saying you know what the market bottom looks like, this is very hard and very tricky, you could end up shooting yourself in the foot.

My advice.

Do not try to time the market bottom, no one knows what the market bottom looks like, we can only speculate and guess, and also do not listen to crypto influencers, they are so misleading too.

I lost my mind when I search "DYOR Do your own research". Lot of things to learn just to DYOR.

Searching and receiving many results but how do I know what are good information and what are bad information, what to use and what to ignore?

This is crypto, and i don't think your analogy is correct in this situation; you also should not take investment advice from someone just because he is a crypto investor, or from a trader, because he trades. If you believe in a crypto, it should not be because a top individual/company believes in the coin and has bought it, it should be because everything about that crypto is open, and you have studied their use case/utility, sustainability and you think it is going to be a good coin.
Exactly, you are somewhat contradicting yourself here and unknowingly buttressing my points, those who supported/contributed to Bitcoin's advancement in the early stage didn't do so because they saw others doing it (obviously they didn't), they supported it because they understood it had an actual utility as a currency, asset, et cetera, and that it was going to have longevity and be sustainable for the very long term.

When you say do your own research, you will understand that some newbies even after doing their own research would still not understand anything about a genuine project and a scam project. This kind of people doing their own research is just a waste of time.

Generally the phrase "do your own research" has some latent
meaning in the forum, which I personally think I have been able to understand.
What that really means is that someone that is giving you that advice is not stating that you should take it as a financial advice because they will not be liable for your losses or gains.

So telling you to do your own research is indirectly telling you that every decision you make is assumed to come from your own research and you take full responsibility of the consequences of your decisions.

Then hiring an expert seems like a good idea but what if they go against the investor?
What I listed are some of the areas one needs to focus in doing their own research, there are still more and also I listed one of the most important, That is Checking for Red flag

Their are tons of scam projects on the internet, so you always have to do your own research before investing your crypto in anything. OP did a great job to point out the ways to do the research before investing.

The best way to do research before investing is to check the project, learn about the team and people behind it, what is the purpose of the project and how the project works.

It's very east to say Do Your Own Research, but it's hard to actually do it if you don't have the skills and experience. You have pointed out many points, but each of them can be a subject of a chapter in a book. When clueless investors try to do DYOR, they only end up getting false sense of safety and invest in shitcoin. Remember recent failures like Terra Luna? If a beginner made their own research, they would have concluded that it's a "good project", because it had a lot of media hype, public team, etc. But real experts knew that it was a shitcoin.

Thank you for sharing this, those thread and term of doing tour own research have helped a lot of investors to avoid sinking projects which could have drained their capital but with the help of research their ability to avoid a such bad investments.

Do you also know that most of the projects which are out their with different pictures on there sites, those pictures might actually not be representing the real owners do you know that?  Anyone can be impersonated now a days on the internet, and someone's profile can also be bought from some kind of dark site and used for such projects. 

White papers are just documents that have been formulated by the project teams and are things that can be gathered around and prepared in a proper and convincing manner, but that does not really mean that the project is totally going to be what they preach. 


The worst thing to do, just as other members have said here, is to ignore the fact that there are lots of social media influencers out there, and what they're there to do is make money without minding how it's going to come about. Project teams meet these people, who they know have the power of the internet, pay them, and tell them exactly what to do, and that's exactly what they are going to do because they are paid to do it. Let's take, for instance, the people advertising 1xBet on social media, comedy videos, news sites, etc.; does that make 1xBet a legitimate casino safe for betting?
 
I'm not completely saying that there are no better ways of making better investment decisions, but if we rely on all of the above-listed facts alone, we might all be victims of one big scam one day. 

Because there are so many people in this forum with different mindsets and different views, the forum cannot completely restrict investing in Altcoins; instead, the forum warns you to Do Your Own Research before you invest so that you know exactly what you are putting your money into and minimize the risk of losing it all.

This is one of the major disadvantages of investing in altcoins; when you invest in Bitcoin, you have no worries about doing additional research on the project because Bitcoin has its own laid-out and transparent roadmap that will remain unchanged due to its transparency and uniqueness; thus, Bitcoin is the coin to invest in if you truly want complete peace of mind.

@OP. Even when one take a proper caution and take a step by step guidelines which you have given above, their is still no guarantee that, the person won't fall into the wrong hand, that's to say not every thing that look good from the outside can actual yield good fruit in the inside, any project whose main aim is to scam, they will still in one way or the other active that, and they will make sure most of this your listed guide's are meet to convince their target.

The most important reason why you should do your research is so that you will not blame another person for your own mistake. People like depending on other people's financial advice or investment analysis because they don't want to take responsibility for their actions. They fail to understand that although there are people who have a vast knowledge of the bitcoin space, the sector is unpredictable.

Most of these influencers have no practical knowledge about Bitcoin, yet people follow them on social media and accept their financial advice. People fail to understand they these influences are businessmen and women that are paid for their service and they don't necessarily care about the outcome of the investment.

Searching for top individuals /companies may not be the best way but it still helps and also you have to know who you are getting information from.I can't be taking football advice from LeBron James, though He plays ball but not football.
This is among the reason why it is the best, most people who supported Bitcoin early stage didn't really see it as an investment but supported it because of what it does. Also Bitcoin growth can not be compared with other cryptocurrency basically its still the best cryptocurrency to invest in, only few altcoins that has good Whitepaper and basically the best altcoin is Ethereum because of the use of Solidity

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In November when Bitcoin got to $15k, Why was alot of individuals buying it while few were selling even after the overall issues crypto Space was facing that period?

Said something about this :


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