Topic: Reasons for Doing your own research - page 3. (Read 411 times)

The moment I saw your thread title and read the first paragraph the first the thing that came to my mind was “DYOR, DYOR how the heck do we expect newbies to do research on things they know nothing about” to be honest I’m guilty of this too.

For one, this forum should come in handy when you’re making your research. Let’s say for a newbie who just got into bitcoin or crypto in general the first thing to do is to learn the basic of how things work that way when you’re to research on anything it’s best you know the basic and that should be anguide for them and if perhaps what they are researching on is complicated and not what they can just do on their own as a newbie they are always free to come back to this forum create a thread and ask about that subject and seek for their opinions, that could also be helpful.

Sometimes, they are news or articles we read online that turns out to be some misconceptions and as you continue to read other resources you’ll find the original news, so its certain that they’ll surely ingest some sort of information that will turn out to be false but with time they’ll come across the truth. And the more they research the better they become at it. Although practice won’t make you perfect because no one is flawless but if you keep practicing you’ll surely get better.

Do your own research ( DYOR) is used to advice people in cryptocurrency investment not to believe on information they randomly get online especially from social media influencers. There are are excellent reasons why you should do your own research and that is why this forum is support of it. Some of these include :

Avoid FOMO (Fear Of Missing Out)
The fear of missing out on the next big coin/ token as made alot of crypto investors lost alot, thinking they may just get the next Shiba inu, baby doge and the likes. It also make you choose to buy a coin at the wrong time even if you may know that you have already missed out on it and this usually brings little gains or losses all because you are controlled by your emotions and not your head

FUD  ( Fear Uncertainty Doubt)
This makes you sell your bitcoin instead of HODLING and later on end up regretting following the masses and media. This is happening now we all do hear about SEC this and that to some big exchanges but Bitcoin is not tied to them so we shouldn't be worrying about it and you can see a recent proof through the FTX crisis late last year after all the media and masses false speculations in the Bitcoin is Bitcoin.

Overcoming the hounds of dogmatism
This is one of the ways you can overcome dogmatism I.e not just believing on what you are being told till you do your own personal research. You may not see the essence of overcoming dogmatism at first but to be Frank, to know the truth you have to research. This dogmatism as cost people alot in crypto space. You see tags/ ads like "The Bitcoin killer" example of such coins is the Bitcoin black which was a scam, there where people who fall for this believing it is true and later end up in regrets. You cannot also know about the dangers of Kyc and despicable ways of some Exchanges because they will always give you a legit reasons for anything they do and you may not know they still have a way to get advantage of you through those process.

Growth
In every aspect of life even in cryptocurrency and bitcoin, security, privacy and others, one can only grow through gaining right knowledge and no knowledge comes without learning even if the truth is in front of you, you may still be ignorant of it until you know/discover it. We know they say ignorance is bliss but when it's comes to investment plans, privacy and security that the beginning of the fall.

The main of Issue of Doing your own research
The biggest issue about DYOR is getting a constant source for legit info, there are many sources for getting legit information but only few are consistent but Thankfully we all know one which is the this Forum. There are so many resources here for Bitcoin, Cryptocurrency, security, privacy and others but there are still quite some members who are ignorant of them (though I myself still got alot to learn and I'm working on that), aside this one can ask questions and there are alot of older members who are open to helping us learn if we do pm them but it matters how you approach them and what you are requesting.

My question :
 Though doing your own research is an important aspect for personal growth but if one get false information then such person is doomed with it, except he/she get the truth before he/she becomes victimised which is  maybe unlikely. So please, how do I know a good source for legit information with consistency?