Topic: The Relationship between social media and Bitcoin - page 4. (Read 749 times)

Actually, scammers were active even before social media was founded. Their objective is to identify a possible victim, particularly one who lacks knowledge. Because they can engage with others online, it will make easier for them to find a victim. But I completely disagree that social media is bad because it contributed to the success of Bitcoin. The social media in Bitcoin has both pros and cons, depending on how we look at it.

It is also a scammers playground. It is better now to learn it via a forum like here or try to find an online tutorial that is legit. We can't really avoid scammers, but we should be cautious of anyone. That is why it is better if you have someone who knows crypto so that you will know where to start. Even if you've just asked a question in a group, it would be flooded with links as they are persuading you to join their ponzi schemes. What's really best about social media is that we can easily find information there, like news, that keeps us up to date.

That's why we should learn how to read between the lines news that comes out from social media.


Well you can read social media and not affected with the news and not panic at all. It might take years though and maybe lessons from the past that makes you not trust social media at all. You can just laugh it out when you see news that is not true as most of the crypto authors didn't validate any news.

So the best way to do is just follow official accounts, but still just be very cautious as well.

Social media are full of scammers, even in a legit cryptocurrency group, scammers can't be avoided especially if your post obviously says you're a newbie that need a guide in cryptocurrency, trust me, your DM will be flooded by fake accounts who are offering you "help". Lot of people in social media always fall to ponzi schemes, or pyramiding investment, in short, those too good to be true kind of investment.

So in my opinion, social media is not the right place for someone to look for cryptocurrency tutorial, unless you know someone who'll guide you through it, and don't forget to be always cautious.

In reality crypto associated technical talks only happen in the forums. The more technical you want the more relevant forums you should be looking at. Why to go far, just enter yourself in the technical sections of Bitcoin talk, and everything is enough to understand. There is so much knowledge that you always feel yourself distant from it.

While on the other hand, if you study what goes inside social media such as twitter, Instagram, YouTube, Facebook etc., then you will understand how irrelevant they go with their contents and how it is not the place to understand the crypto space. All they do is, publish some content just to get the views and get paid. Some literally go further and talk insane things which attract the crows just to see if it is real or fake. Just choose your media carefully.

Indeed it is "indispensable part of our lives"  sir. These days, businesses rely solely on social media for strong advertisement and publicity. I remember back in the days before the inception of the social medias, people do go to the TV stations and radio stations for advertising and awareness which i believe not every body has because before one could get those gadgets, it cost much and they are not mobile but this current dispensation is no longer so compared to the past with your smartphone, you can view updates from any part of the world from your social media handle and as well make advert and promotional content online with no much stress. This is the point at which the social media has gotten to.

It is harmful, not helpful.

If you don use social media and read cryptocurrency news too much, you will not be panic and sale off your coin. Market sentimemt is contributed a lot by uncertain emotion and chaotic decisions of many people. They are uncertain and fearful because they read too much articles, tweets on social media.

When they turn off Internet, log out their social media accounts, they will feel better and they must watch the chart less often too.

Social media is not only a powerful weapon, but in my opinion, it has become an indispensable part of our lives. Not only does it have a positive/negative impact on bitcoin, but it affects our daily lives, it's almost impossible for us to stop using it. Social networks are an integral part of any business or individual, apart from the elderly and disabled, I don't believe anyone can survive without social networks. 
As for the cryptocurrency market, I see that social networks bring more benefits than harm, without a social network for us to share opinions freely, many people still do not know about the existence of bitcoin. I am also someone who knows bitcoin through social networks.

Despite that most of us here discover bitcointalk through the social media or websites and google search of any related keyword that goes along bitcoin, this is a digital currency that has to do with diverse opportunities and people like the fact it's informative and educative, with the use of this same social media we can have the bad and good experience out of it depending on how we were able to utilize it for our own good and benefit, and our children should rather be exposed to this as well when we feels it's more secure for their age.

You are right Sir. Social media can be used as well to manipulate the market with fud through celebrities and  others. Celebrities with large followership tends to use that as an advantage to persuade or convince their followers through their social media handle to control market trend and to draw attention to products as well.

Big celebrities do this often times and are mostly sort after by big companies. Some of the companies make them brand ambassador because of their large social media followership so they could easily reach out to them. Crypto projects approach them too for promotion because of their large social media followership. So you can see that social media plays a vital role in creating Crypto awareness.

Social media has become an important tool in promoting, educating and motivating users interested in btc and cryptocurrencies in general. Social media platforms like TW, RED, YT, Tiktok,... provide a space to share information, opinions, and experiences about btc. This makes it possible for users to stay up to date with the latest news, discuss with the community, and gain knowledge about cryptocurrencies. But it should also be noted that through social media, information about btc can be distorted or spread rapidly, affecting prices and user behavior. Any change in posts, critiques, or announcements from celebrities, big investors like Elon can create huge swings in the value of btc. Therefore, users need to have vigilance and the ability to analyze information to make smart investment decisions, not everything that is spread has a good purpose.

Indeed, social media has been a key player, but let's not forget the transformative tech at Bitcoin's heart – blockchain. Its potential stretches far beyond just digital money. Like social media, Bitcoin democratizes power and nurtures worldwide links, painting a picture of our interconnected digital age.

Exchanges smartly utilized social media's broad reach, enticed by Bitcoin's glittering prospects and the exciting rush of trade. The blend of high-tech and easy access was too alluring to resist.

However, every silver lining has a cloud. The negative aspects you've pointed out are the unfortunate flip side of social media. These challenges arent exclusive to Bitcoin or blockchain. They mirror wider societal issues. Lets not let these cloud the hopeful future that Bitcoin and blockchain herald.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

Social media can have both "good" and "bad" influences on the Bitcoin price and it's success. It takes only one bad post from a well-known influencer for the speculators to run for the hills and to dump their coins.

We are currently seeing that with all the things that are happening with Binance and the SEC. A while ago, Elon Musk said something bad about Crypto currency investments and the price went down.

Elon Musk use social media to push his own agenda and he has been warned not to manipulate markets with his Tweets.  

From I have noticed the relationship between bitcoin and social media is strong bond and its what is making bitcoin to well known, do we know that without the knowledge or help of internet bitcoin won't have gotten population or being influence to the world, so what is making bitcoin to dominate today is as a result of internet and their nothing can not help to uplift if you make a serious campaign about the stuff on internet, right now a country that doesn't know bitcoin is a country that doesn't make internet and that means theirs no effective mobile communication in such country, myself I first heard of bitcoin through a social media and when I noticed bitcoin I started to browse about bitcoin and functions mostly the important of bitcoin

I guess not having anything even remotely close to social media about bringing people together is the main drive social media has. We can talk with people who are interested in the same things as we do, doesn't have to be people who we agree with, it just has to be people who we have something in common. You could be interested in politics for example, and you could be rooting for different people but at least you can argue and talk about it, but if you have nobody around you that is interested then you can't even talk about it. Social media allows both startups and business' to reach to their customers as well after the sale, if I buy a shirt from a store, I can't just go back there and talk to them everyday, but I can tweet about any problem or like I have and they can see that. Long story short, social media brings the world together. And bitcoin is another topic in that world, just like politics, just like sports, just like movies, bitcoin is there to be talked by people and sometimes it helps, sometimes it hurts.

The only relation of social media to bitcoin from what I have seen is the scamming part , because majority of being broadcast in social media in the past and even now are ICO,IEO and other related thing that only seen investors to be scammed.
as the legit project will use not only social media but other platform instead that will give understanding from true investors and team.\

I discovered this forum on Social media, which was posted in some groups, but with Bitcoin, I discovered it in Google searches in some website tutorials, though right now most of the new people have for sure discovered bitcoin on social media, as everywhere people are talking about it, especially when the last ATH happened, a lot of people were talking about it, which led to others discovering it. Social media is a really big factor in anything as it can make you discover things, and the adoption of bitcoin would also be bigger as it is also a source of information.

I first heard Bitcoin in particular and cryptocurrency in general via social media or Facebook to be specific. Without the socmed, I don't think cryptocurrency will be as known as we have today. And all of these things opened up all because of the internet, of course. I am sure that social media will continue to be a big influencing factor in the march of Bitcoin into the mainstream population so that one day we can witness BTC pushed into higher heights ultimately reaching a million dollar value whenever that can be.

Social media can not be overlooked in this modern-day world. It has played vital roles in many ways from advertising to information dissemination, makings friends and connecting worldwide, etc.  To the best of my knowledge, social media seems to be the outstanding means of promotion in this current day dispensation for instance, most projects that rose to stardom did promote their projects here, and virtually no project would testify of not using social media trying to build their product and community. Social media is the next to reaching out to the followership of every project through the constant update and also fielding questions from prospective clients and possible consumers and end users.

I am of the opinion that social media played a good role in announcing the presence of Bitcoin's inception. If a survey is to be done now on how people got to know about Bitcoin I believe the majority of the response would definitely point towards social media as their first encounter before possibly being told about it by a friend or family member. I myself am a witness to it as I had a similar experience as I initially explained. Moreover, exchanges did their promotional content on social media which also incorporates the exchange and swap of native tokens, fiat, and other currencies for bitcoin. All this awareness was done through social media. Which I believe they saw as a strategic marketing tool for letting the world know about their presence and the services they rendered which also includes bitcoin trading and storage.

Although there are other negative aspects of it too which has caused more harm than good in the society. FUDs, Scams, Hate speech, etc have been brought to the detriment of the masses through social media which has not gone down well with many. Lives were lost and properties destroyed as a result of social media hype. All these put together are also effects of social media in the world today.