Will the collapse of the media mean the collapse of cryptocurrency? - page 2.

tyz

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Quote from: nurilham on May 15, 2021, 06:56:48 PM

Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

What media do you mean?
In my understanding, the collapse of the media seems difficult to happen. There are too many media that we can use, how can all the media collapse? As long as we have the internet, media will survive and the crypto world to exist in our life. We don't need to be afraid of the media, all parties support the media because it has a big role in our life nowadays.

The question of the thread is so hypothetical that most probably have trouble understanding it at all. In principle, one could also ask: Would the fall of a bag of rice in China cause a collapse of the crypto markets? This question would be just as plausible Cheesy

iTradeChips

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When I first saw the question, it raised my eyebrows and thought what kind of person asks something like this. Collapse of the media means the collapse of cryptocurrency? I mean why don't you just ask, "Will the collapse of the world be the collapse of cryptocurrency?". Do you think a media blackout is capable of stopping 9,000 plus cryptocurrencies in its tracks? And mind you we have the mainstream media and social media, you did not even stress which kind of media will collapse. Many have answered and I will stick with theirs. Collapse of media? In your dreams, mate.

nurilham

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

What media do you mean?
In my understanding, the collapse of the media seems difficult to happen. There are too many media that we can use, how can all the media collapse? As long as we have the internet, media will survive and the crypto world to exist in our life. We don't need to be afraid of the media, all parties support the media because it has a big role in our life nowadays.

Brybtc

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

Not really, how you do a total media blackout on this day an age? nobody I know who deals with crypto even older people who are new to this are watching CNN and the like, most of their info comes from social media and chat groups.

The real treat would be somebody cracking BTC or ETH, you would have a massive run to fiat from all the other altcoins trying to cash out before their coins are worth nothing and in the process the prices will plummet. This will basically destroy any confidence in crypto for years, maybe more.

batang_bitcoin

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Think of this, these days cryptocurrency price movement (btc & other altcoins) is highly affected and dependent on the media. People now follow up closely with information around the world to know when to buy and dump a coin, as a result a simple occurrence because of the media might just cause a cryptocurrency value to go up or to come down.

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

The only connection of media and cryptocurrency is its influence and the news that it brings. Other than that there's no connect of cryptos market and the media.
Even if there's a collapse in media, there goes the continues trading and market of cryptocurrencies and the same goes apply for the opposite.

Gargulan

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Think of this, these days cryptocurrency price movement (btc & other altcoins) is highly affected and dependent on the media. People now follow up closely with information around the world to know when to buy and dump a coin, as a result a simple occurrence because of the media might just cause a cryptocurrency value to go up or to come down.

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

What do you mean by media? Which media are you talking about? The people I know who are interested in cryptocurrencies use the internet and the sources they can find there like websites or even scientific papers on research platforms. The rest of the media isn't that relevant for this area I thought. I have never seen it that way.

imstillthebest

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following the news are important because it serves as a guide if what is going on to the coin your holding but it becomes a problem if they will cover a news that are false because some people reacts fast without validating it

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Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

whats a media blackout ? when there is no media or news for a certain time ? i will be happy if that happen because people will be dependent can transact in their own way . there will be less manipulation and less collapse of the market .

Galley

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There will be no collapse. Of course, the media play a very large role and influence that they can have on their audience. And the crypto community is very susceptible to various rumors and news that can negatively affect the market situation. But the collapse is too pessimistic.

isaac_clarke22

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Think of this, these days cryptocurrency price movement (btc & other altcoins) is highly affected and dependent on the media. People now follow up closely with information around the world to know when to buy and dump a coin, as a result a simple occurrence because of the media might just cause a cryptocurrency value to go up or to come down.

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

No, especially for Bitcoin.
Shitcoins will cease to exist though, because people mostly get the hypes from media actually.
Bitcoin even managed run on its own regardless of the news we got recently although people think that Musk caused the recent crash, but it is not.

leea-1334

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It has always been highly affected by the media. The media spins stories all of the time,,, but let us admit it, it works both ways.

Media did all the hype news and helped to drive fomo and we were happy. Then media also did all the Fudding news and we were unhappy.

Why not just accept that the masses (us) still read and want to believe the media so just enjoy the rollercoaster and stick to our beliefs about crypto?

BChydro

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

Is it even possible to have a media blackout and does it really have anything to do with the market valuation. In the past each and every news coming out of China had an impact on the market now what i have seen is that any tweets from Elon Musk is creating a buzz in the market, what i think is that these are momentary and it will change. The only concrete thing i can say is that when the institutional investors starts selling then it can trigger a collapse and nothing else.

Atang Sulaeman

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with the media or in the absence of cryptocurrency media there will always be a strong community that will certainly continue to grow and will never back down because there will definitely be other altcoins to come. so the media is not a factor in determining the success or failure of an altcoin.

Ridwan Fauzi

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I guess not, they are just mediator. If the content that they serve is valid then that you think will be right, it means there is a main factor be it an adoption or crypto currency not a great place for an investment or a good tool to use. But, if the content that they serve is not valid, I mean they are trying to make FUD and make all crypto currency price decreased then it will just for a while. The crypto user will buy more when its price is low, take a look when bitcoin touched $3500 they were a lot of people who bought it and make another all time high like now.

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Think of this, these days cryptocurrency price movement (btc & other altcoins) is highly affected and dependent on the media. People now follow up closely with information around the world to know when to buy and dump a coin, as a result a simple occurrence because of the media might just cause a cryptocurrency value to go up or to come down.

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

If media means news company, i don't think it can cause crypto collapse. Information can be found anywhere even in a little forum. For me, with media or not, as long people stay with bitcoin and other crypto, it will be not a problem then. Internet is still vert wide if we want to look about something.

Teraboy

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Media was only used by some parties to create FOMO and FUD. So many times media and press release used to manipulate the market with so many fake news.
This is only contributing to the volatility of crypto but media has no power to make crypto becomes collapse. I think that you should know that if the tech will exist forever.
Crypto was starting from nothing to something. Media was only taking the advantage of it.

ilovealtcoins

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I think the media is getting bigger and bigger and they also make money from crypto. Remember that Bitcoin existed before the media talked about Bitcoin. Thanks to Bitcoin, professional crypto media was established.
With the speed of development of crypto and media, it is unlikely that the crypto market and the media will collapse together.
We can only see the media may have less coverage but they will not crash the market. Cryptocurrency market makers will come up with new trends and heat the market once again. Look at ICOs, IEOs, IDOs, DEFIs or NFTs, these trends have attracted a lot of media coverage. It is a fact that if the crypto market crashes, the media will crash.

bitkanu

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It may not make crypto collapse but in another case that if it will be making crypto go down. Media plays a lot in the publication of crypto and this triggers the massive adoption in the cryptocurrency.
That being said that the media will have a very big impact but it will never make crypto go collapse. A few years ago crypto was not getting a lot of attention from the media and it could still exist till this day.
I think that's only a theory.

tyz

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Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

Certainly not. You're painting a scenario on the wall that won't happen without it having a huge effect on the entire world, not just the crypto markets. There was a discussion years ago that is very similar to your topic: what would happen if the power went out worldwide, a mega-blackout so to speak, then crypto would become worthless and unusable, and fiat would be the big winner. All such discussions are highly hypothetical.

Reosta_

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Quote from: Bttzed03 on May 15, 2021, 03:22:09 AM

Quote from: Rruchi man on May 14, 2021, 10:34:42 PM

~ Do you think the collapse of the media (Say a media blackout) can trigger the collapse of the value of cryptocurrencies?

Can you classify this media? Mainstream or social? A mainstream media blackout would surely have an impact but I don't think it would be that big because there's still social media which is more powerful now. If you're going to include social media blackout, then that's going to be tough to do. That might take shutting down the whole internet.

I agree also that shutting down the social media can have much bigger impact on cryptocurrencies. Because most of the people in the world follow social media for almost everything. For example, Elon Musk's tweets are very effective on people's cryptocurrency investments in the recent times.

nakamura12

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It is not because of social media if it's about social media affecting cryptocurrency prices. Social media did help cryptocurrency being taught by those who already know it. I'll tell you something that myself know about cryptocurrency not because of social media but knowing it from someone I know. With the help of social media then discussing or sharing about cryptocurrency is shared not only on the other platform but also in social media which many people are using it now.

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