Topic: Reasons for Doing your own research (Read 393 times)

To many unverified information we can read online so it will be hard for us if we listen to one opinion even if this one came from well known people since they are also prone to commit mistakes so its good for us to do our own research to avoid getting confuse on the information we read.

Nothing wrong for having a doubt since sometimes we also need that so we can avoid some mistakes that can damage us and think then do better decisions.

False information is something everyone crypto trader and investor should always keep a watch on not to be misled into taking regrettable actions with your asset. Regrettably there's no way we can end false informations in the cryto-verse but at least we can constantly avoid it by being careful.

There are various ways to discern false informations, which are:
1. Give room for time: in otherwords be patient with whatever information you receive don't be in a hurry to take action towards it so you don't also become a proxy tool use in spreading such false information.

2. Verify the information source: one of many ways to verify an information asking questions from experience in that field  you know. They have a reliable and strong links to those at the top with the right informations, which for you you ain't privileged to.
Then for projects like online casinos and exchanges always check on their reviews too. What are people saying about them.

3. Compare and contrast: we have a plethora of channels on getting informations, never depend just on one or two. Compare the information you're getting through your research to other sites if they're same, there's a chance you may be rescued by one of those sites on the right informations. Etc.

When it comes to your money, everyone should check several times, especially if you received any information from unverified sources of information. Financial advice should also be treated with great distrust, at least because it must seem dubious why someone would want to give you advice that can bring you profit, so take the trouble to check all available information before accepting this advice.

Carrying out personal research is very important it will educate you to have a clear picture of what you are dealing with. For instance, you do not know how Bitcoin works and you want to invest in it. You will have to carry out your research to know more about Bitcoin before investing your money. After you finished your research on Bitcoin you can analyze your answers from the different types of sites you used in carrying out your research on Bitcoin to see the ones that are saying the same about Bitcoin. With this analysis, you can access the right information about Bitcoin. This forum is also a place to gain more knowledge about Bitcoin.

In my take with all you said is cool and at this point you said this at the space of doing all your research and all of that i believe one should put this at the back of their mind that any information gotten out from the internet or any where is a 50/50 thing. to me thats how i see it i dont have to put my mind that am getting the best out of it.

The fact that you are newbie doesn't stop you from doing your own research. No one brought it from heaven, the heroes in the house today started from somewhere. The more research you do, the more you are good at it.

Doing your own research (DYOR) before investing is indeed very important, because in my opinion it is from this research process that we can make it easier for ourselves to process, absorb and better understand knowledge or information according to our abilities. And I think indirectly can also add experience for ourselves.
Yes, in any case not only in terms of investing, we should not easily believe information provided by other people even if it is an famous influencer on social media, because it is not certain that what they convey is true 100%. In my opinion, never trust only one source but we must have many reference sources.

As I said earlier, in my opinion if you want to do your own research, you must have or collect many reference sources not just from one reference source, so that we can compare the information we want to get or what we want to study. As well as from the many references we have, the knowledge and information we get will be more and can further expand our knowledge.

That was why it was called research. Your findings shouldn't be on a fact alone. You are to browse well enough through the net to get more reliable information

Its important thing in cryptocurrency trading because needed more than one source for verifying information actually with coin recommended for buying, usually many source recommended to buy specific coins because they have early investing and use hype moment to sell their assets and in another time we are investing when source information sell. Research by own self is very important in trading and we can comparison about accurate and how profitable when investing in coins have been recommended.
In trading have patience passion, if want to earn profit in short time or hurry for buying coins I don't think have good side and less opportunity to earn profit. Indeed joining with group premium signal its not guarantee to earn profit with their coins recommended and require for make own research before disappointing when out of predicting.

You cannot depend on one source for verified information always, you have to know that legit information is the same even on different platforms, so there always has to be comparison in the form of verification to confirm if an information is legit. Depending on the information from one source can be misleading, or not the complete information about that subject that you are researching on. Research process does not have to be hurried, it has to be done gradually and well not to miss the facts.

In our time, self-education is very important, then how much a person can receive the necessary knowledge can become a decisive factor in how successful he will be.

By the way, the forum is one of the best places where you can get all the necessary knowledge regarding cryptocurrencies. Here you have the opportunity not only to independently study the issue of interest to you, but also have the opportunity to communicate directly with more experienced people who have more knowledge than you.

Yes, there are a lot of available sources of information now, but it is easy to get confused in them and they do not always carry the correct information.

Well, it was part of your research to say if you are getting the right information or not. Because if you're not, then I don't think it makes sense if you still don't get the right thing to do and fall into the wrong information.

You may consider this forum as good a source of information but still, you also need to evaluate if the information is telling the truth or not. I was not just reliant on a single source, I keep digging more and finding more ideas, you can really confused about who is telling the truth and sometimes our judgment can possibly be wrong.

There are so many reasons why one needs to carryout his or her own research while trying to get findings about a particular thing.Research is the key to a successful idea,opinion and answer to a given situation or problem.There is need for everyone who wants to grow to know that a mere explanation about something does not really give a genuine answer to your curiosity,it is through research that you get to know the different answers to what seemed like a difficult thing to you.
Those who are successful today have made some sacrifices that an ordinary man cannot make,and those sacrifices goes down to carrying out some personal findings and investigations on the subject matter before carrying out an experiment on what you have seen or known.To traders,you need to know about the coin you want to invest in,whether it will be good or bad before putting your money in it.Conclusively,Research is the base to every brilliant idea.

Since one of the reasons you mentioned is about growth which is becoming knowledgeable and you also mentioned that if someone got the wrong information then searching for other source of the same topic and compare both the information then you will know that it is not the correct one like website number 1's information let's say topic crypto while website nunber 2 and 3 have topic fiat then you can tell that even though you search for the same topic but the information found on three websites where two of them are the same while the other one isn't. If you feel it is not the correct information then freely ask here in the forum if you are not sure what you get. What I am going to tell is when doing your own research, it is important to search the same information from different sources so you can tell if it is wrong/false.

It is mandatory to do your own research, because then we will know how the flow of research is carried out. I learned a lot from forums about how to research a newly created project so I can see its future potential. There are many tools that can be used for detailed research. Don't just believe what other people say because that won't guarantee you will escape from the scammer's project. Researching independently is the best advice, while learning how crypto works.

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It makes your post unique and more valuable. Doing several research before posting on a particular topic will expand your knowledge and views on crypto. From time to time you can even make posts without doing research because of the knowledge you've gotten from other researches done before. Moreover it can help you gain merits . You don't intend for a member who always post plagiarized content of other members to advance in the forum .
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This is why a person need to have several source of information.  Relying solely on one information may often lead us to misinformation.  There is a need for check and balance meaning, the information should be verified by other information that coincides with that information. 

In addition always be skeptical on any information we gather, don't just read and post.  Always try to look for other source of information to support the first information we gather.  If there is a conflict then it is best to dig deeper and look for more information for validation.


This method does not work all the time since lots of people being misguided by this method.  Don't just believe something if some people refers it.  Always have doubt on the information until personally validated.

One of the ways to ascertain if you are getting the right information from a source is to do more research. The information should also be confirmed by other sources because nobody is a custodian of knowledge. So ensure you compare the information with other sources.

Another medium of identifying a credible source is by referral. When a reputable or trusted individual recommends a website or platform to you, it might have some form of credibility. Some reputable members of Bitcointalk have referred me to some helpful platforms.

Some sources have built their reputation over time. These sources have been in the industry for a long time and have proven track records. The age of the website might be a good indicator that they are credible.

Another very important medium is thinking. You shouldn't rely totally on other people's information. There is also a need for you to think creatively. Sometimes the information we need is inside us. We have to also think through the information we have gathered to make our decisions.

The reason why everyone must do their own research because blindly trusting someone else in cryptocurrency world isnt smart. A lot of people are so lazy, that they dont even read what other write and blindly copy what other do. Not to mention they dont read others researches. We are all different, we have different goal and opportunities, that is why making own research is a must. At least people should try to make their own research to train their brains. And there are a lot of so called "influencers" in crypto, that only talk beautiful, but what they promise often turns to be different from what people get in the end.

Knowledge drives away ignorance. It is not just enough to say to newbies and other persons in the cryptocurrency community, "do your own research". Doing your own research at the right place is also essential. You may still experience FUD, FOMO, if you do your own research but don't in the wrong place. And there are different ways of doing your own research, it could be through books and articles, video and audio resources, attending crypto events and asking questions etc.

In addition to some of the sources for getting legit information, I found that following Documenting Bitcoin and Bitcoin Archive on Twitter are two of my best recommendations. There are others but ever newbie can start from there.

I would also add that communication with forum members provides an opportunity to ask specific questions and get a specific replies to them. A Google search or even a chat GPT do not provide direct answers, they provide a stream of information that a person without experience and knowledge in the cryptosphere may not immediately understand. Moreover, on the forum you can always clarify the points you are interested in if you do not understand something and develop the discussion. This way you get better access to information. Of course, you should never forget that information needs to be checked, no one has canceled the need for one`s own research. But such searches are much easier to carry out already on a certain base than to poke your finger into the sky and look for answers in a search string.

DYOR is very important to become successful in whatever that you are doing so that you don't get misled by the fake information that will bring regrets of loss for you. Knowledge is power and anyone that understand this will always make research on bitcoin whatever information he gets on cryptocurrency so that he will be rest assured on the decision to make. To learn as a newbie starts from this forum because the forum has the basic knowledge on bitcoin for newbies. Then whatever information that you get make sure that you confirm is it is true or not. This is why the forum members will always ask for links to confirm whatever information that you drop here for prove. When you DYOR,you will hardly have the wrong knowledge of bitcoin and in whatever that you engage yourself in. Though,there are fake information but look for a right source to get information

Guilty of what, really? Guilty of telling newbies to DYOR or guilty of you not having done it as a newbie? Your expression is ambiguous, even after rereading it I still couldn't fathom it.

Yes, and that's why it's good to choose one's sources of information carefully. We shouldn't be reading from unreliable sources. This is the first thing I do whenever I want to find out the truth about a thing online, or of any politically related happening in my country. I make sure to read only from authentic and reputable media outlets.

You wrote a very nice article but there is one important reason for doing your own research that you did not capture.
Accepting the consequences of your decision
Many people make very good analysis of price movement, although they are sure of their analysis but they will still put a disclaimer that such analysis is not an investment advice. What they meant in essence is that if you go ahead to use such an analysis, you should be able to accept the consequences of your decision, good or bad.
So, doing your own research makes you to take charge of your finance and accept whatever outcome as a result of your financial decisions.

Legitimate information is accurate information that has been obtained from several sources and has been verified by a trusted source; if you obtain information from reputable journalism sources, it is legitimate information.

I vouch for the accuracy of my information regarding Bitcoin in this forum; if you inquire about a news item or significant update pertaining to bitcoin or other cryptocurrencies here, forum users will assist you in gathering accurate information by bringing it from a variety of sources to persuade you. If the news or information is false, they will also inform you in this forum.

With FUD, every newbie is being gullible to believe such news and they're all panicking. Sorry but that's the observation that I used to see these days and it's like whenever we see some bad news, they're all reacting accordingly as if the market just existed a few months ago.

They do not have full confidence to the market especially to Bitcoin and they're thinking there must be a reason why it's going down. Nope, the only reason why it's going down because it has risen.

And basically when a price of an asset goes down, that's where most of the investors are happy. OP is right that DYOR is a must these days but the new comers don't listen to advices and they think that they're already better than anybody else.

Well, that's just for many and some of them are still happy to ask for help on what people's thought of what their plans are and if one should remain optimistic to the market.

That depends on what sphere you are researching. Getting good information about the technical side is fairly easy, you can just follow Bitcoin Core developers, search for questions on bitcoin stackexchange, Development board on this forum.

Trading information is impossible to get, because no one truly knows where the price is going, but there's a lot of scammers and grifters who claim to be gurus and try to sell trading advises to noobs. Or there's a lot of shills who push disinformation to move the market.

many internet users today trust search engines on their smartphones more. whereas there also scammers are developing many ways to fall us into their traps.
for example when we search for websites to find out the development of crypto market prices such as Coinmarketcap on Google. you may see ads with similar search at the very top of your search.
if you have doubts about searching for something on the internet related to crypto and Bitcoin. you can ask and talk about it in the forum. I'm sure there are enough knowledgeable members who will share their views and you can come to your own conclusions.

There’s no news outlet or specific personality that is consistent on providing valid source. Most of the crypto figure is now can be paid or posting bias information because of their own self interest. Even news outlet on crypto can be paid to publish wrong information about a certain project.

You will need to keep DYOR by doing some discussion here in forum so that there will be contribution to verify the content of news.

But still doing your own research gives a better edge to be successful and also going through these replies I have come to realise that, in getting a trustworthy information is not just by believing on a single source but comparing various sources to know the truth.

I asked this question in order to know the ways other members do their research and with this I can have a better understanding of DYOR and also I know the question would be quite helpful for newbies and some other members.

Yes, I have experience this but I was only able to clarify my doubts by asking a question regarding it here. Also This Skepticism shouldn't be ignored just because of the trust you may have for such person or groups because Humans are prone to mistakes

All these can be done here, that's why doing your research here is much easier because we already experienced members available to clarify doubts which is another basic issue of DYOR

As much as going your own research is commendable, we must also agree that wisdom of the crowd does wonders as they say two heads are better than one..so basically the DYI of research keeps you in the know, but synergy gives you options and some extra information one might have missed.

And like you have pointed out, if you get wrong information if you go with the DYOR, then the damage will trickle down to all your decisions and your pocket will pay for this...Which is why an extra pair of eyes should be deliberately used to avoid falling in such a pit.

My question is how and where do you get that information to verify that you are right with your own research, doing your own research is compiling all verified sources and compiling necessary questions to come out with the fact and the truth, you have to set up your own criteria and questions these sources if they are giving you the right information can you verify if the pieces of information are all correct.
Part of doing your own research is having skepticism until you establish the fact through your own criteria, there is no perfect decision coming from your own research, but if you continue to believe and update your criteria you can perfect your own research.

Good information and the best part is well formatted. I do like posts where you use the given formatting options like bold, italics, headings etc.
And coming back to the topic of Doing your own research, yes. You should do your own research for anything related to anything.

If we talk about Bitcoin in this case, one should not depend on someone else's information. If they have wrong information, you just become another transmitter of wrong knowledghe.
Prefer reading out and asking for source of information, this way you get to know what's real and truth.

I agree. Why you will believe others or a suggestion without knowing details about it? If someone is providing you a potential project to invest then there may have self-interests. Because maybe they want to force you to buy their tokens.

So basically in every sector of investment Research by own is a must. You have to know where you are going to invest and what about it's potential, what about it's risks and rewards. So in crypto space never follow an influencer or a suggestion from random person. Be experienced and confident about your decisions because your investment, your choice and your risk and your rewards. Taking suggestions from others aren't bad but you have to research by own every advices then you can choose the right one.

I recommend DYOR not only for Bitcoin and cryptocurrencies, but for personal finance, and life in general. Knowledge is power, and the more things you know the better.


It is paradoxical that you write the post you have written and end up with that question, because based on research you should be able to answer it, but I advise you one thing: even when you have a reliable source of information, always be skeptical, because from time to time you can also sneak false information (on purpose or by neglect).

Those are the measures for the terms most likely encountered by the people who want to make investments, the reason why few of them want to attend and pay for a course is that its too hard to make a step to the things you really don't know where to start, tons of information right now in the internet, those data can be concluded once you make a good analyzation of the reliable source of information, but not as always we encounter in the internet is the best way, sometimes experience is the best teacher, better to strengthen your network connection with people related to the topics you want to know those experienced by them can serve as a guidance into you, and also with your experience you can learn from your mistakes. Continue learning while earning the best key for knowledge.

I agree with the OP. For newbies and not just newbies, sometimes it's hard to make the right choice and form your own opinion. I think everything comes with experience. If you have found this forum, then you already have many helpers at hand who will be able to deal with this or that situation together. I would never trust YouTube; after YouTube became paid, everything that is laid out there speaks only of subscribers and earnings. In the same way, the information on Google does not always contain the correct information, but it all depends on promotion and optimization.
Therefore, communication with living people here on the forum will give the most correct information or advice, especially since you can hear this information from several users and draw the right conclusion.

Well just as you already mentioned earlier, one legit place you can get legit information regarding bitcoin  and cryptocurrency in general is here in the forum and what you have to simply do is create a thread and ask your question and you'll  get the right answer right away.
Doing your own research doesn't guaranty success what it rather does is letting you be responsible for every actions you take and not blaming anyone if things goes sour.

I'm fan of doing your own research but this is stressful and rather than doing my own research, I simply look for who I  trust based on his or her past results and take directives from and this is my own tactics when buying alt coins.  Also always remember that what works for someone  else might not work for you even after following exact steps, so figure out your strategy and work on it.

Doing your own research DYOR has a most important role is to be independent and be responsible for yourself.

By doing due diligent research by yourself, you are responsible more for your thinking and decisions. It means you are more independent from your thinking, plan to decisions for execution.

It does not lead to completely accurate decisions but you can not hope your decisions will be always accurate if you purely rely on others to make your decisions. By DYOR, you will be able to learn more, get more knowledge, gain more experience and are able to correct your lack of knowledge, experience as well as have better ability to filter information, analyze it and after a while, you can make better decisions.

It depends on the kind of information that you want to get enlightenment on, if it's about cryptocurrencies or Bitcoin in particular then you don't have to search too much. You already have the forum where everything about Bitcoin (all information) are discussed. You only have to look at the area of Information you you desire and put it into practice. If it's about Altcoins, there a place of such that can get information. Or if it's not about Bitcoin or cryptocurrencies then I have a simple method I that used in making my research.
All you have to do is;
Go to Google search for the question in qoute or the information you seek.
Look at various results choose from the answers, one closer to you satisfaction.
Lastly, the information that is repeated in different websites or pages (one particular information) is surely the legit information you need.

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?