Bitcoin Forum

Mass “maneuver” networks or current social networks can be used to boost or defame a currency (crypto). Overall, is it beneficial to use monetary investment in social media to increase the value of a cryptocurrency? Even at the risk of defamation by the network itself?

Social network is essential to do ,spread the good news about the coin and share the bad things about the coin social media for all the people.When the price of bitcoin was increased,the same was reflected on the price of most of the altcoin.Now the digital marketing strategy was playing huge role in the selling of the cryptocurrency projects.Many new people coming to crypto project by this social media.

Cryptocurrency projects do it all the time, I mean how else will they get publicity?

As for Bitcoin, who's going to spend the money? There isn't such thing as a Bitcoin CEO/CMO. But fortunately Bitcoin exchanges and services in general do the marketing for us.

What defamation in particular?

Anyway, social media networks nowadays are playing a vital role in terms of shaping public perception and the day to day life of ordinary people, so it has now also become a ripe avenue to promote investment and all kinds of opportunities. It is probably where your investment offers reach the widest possible audience. So regardless of the possible opposing views, it is probably worth it. As a matter of fact, it is a good open space to disprove those defamation and false accusations and whatever.

I'm guessing something similar to what some Proof of Stake projects say to attract attention to their project; they say Bitcoin and Proof of Work is a waste of energy and all that. Fortunately most if not all defamation attempts are a failure.

Social media has a big role to play in the value of cryptocurrency, because it's the only medium currently now you could find the majority of people. A small virtual community which connects the whole world, through which information shared can go viral in seconds. People this days believe in information gotten from social media, and thats why we have got influencers who through their massive audience could influence a mass adoption or rejection of a coin or anything else, just like Elon Musk

News media and publication, they have bitcoin as the best key word these days so that their articles can be read at high count and they will get paid from advertising networks. Whether it is casino publication or even altcoin project publicity, bitcoin name would come up eventually. For example, you can buy our coins using bitcoin or you can play the slots with bitcoin etc.

Ultimately this is nothing but bitcoins eventual marketing. Though it does not require any.

Government also indirectly prompt bitcoin whether it’s legal or illegal dispute, everyone will check it out just to see what exactly bitcoin is and why everyone wants it.

Anything you'd want to boost popularity with would always use social media as a medium. It's basically a hub where people can easily interact and share their opinions, as well as spread them to basically everyone else that uses the internet. The major goal in using it anyway is to let the people know of the existence of the project you are endorsing, the rest of the information added is just flavor to increase the chances of you actually remembering it (or not). As long as the project sticks out to someone, I'm pretty sure most businesses would consider it a success.

Imagine first the power of social networks, especially those in control of so many people, on what they can do on the platform. Imagine the giants like Facebook, Google, Twitter, etc. They can and have the power to change their platform to something that could benefit them instantaneously. ^{Of course, that's not ideal and probably illegal}, but they can. It's just a matter of how much they are willing to do about it.

If someone that has enough power to do it manages to have it, they already can accumulate so much that they can probably get away with it. With the use of their money. It's just that influential.

That's just a thought on what they can do, but I doubt it will happen. The brand they built and the foundations they have strengthened will be tarnished or be desolate if they do something like that. It's not that worth of risk. That's how I see it.

There's no need to do that. Haven't you seen that social media has been part of defaming bitcoin and has being used to describe bitcoin negatively.
Let alone the crypto market grow on its own and we don't need any funding for the usage of social media to boost the popularity of it. We, alone are enough to describe how it is with our individual accounts.

OP stated social network and different to social media and the difference between the two is that social media is more of an online community formation to share information, ideas, private messages and other content. whereas, social networks are more of a platform for creating and maintaining personal and business relationships, especially online.
and the main difference between the two lies in the style of communication, Purpose, Content, Time and Effort, and ROI.
but both are good for bitcoin because it can increase its popularity and also increase its users, depending on how we advertise it and also explain well if there are questions.

I think social media plays a very important role in global crypto adoption.. with us as crypto adopters spreading good news about crypto through our social media this will invite other people to join and use crypto for their transactions or investments

In the past, the attack on cryptocurrencies took an ethical nature, such as that they were used in drug dealing and dark activities.

However, some people continued to use them, but now they are related to speculative activities, which some may risk in the hope of making a quick profit from them.

What I am trying to convey is that what is happening now is better than in the past, things change and even the negative outlook will change when investors invest directly or indirectly.

in fact social media plays an important role in the development of crypto. almost all cryptocurrency publications start from social media such as Twitter, reddit, facebook and youtube. without social media networks, I doubt crypto can thrive the way it is today. so if anyone says social media has a negative side for crypto it is completely wrong.

Social media is decentralized and therefore a unified central opinion cannot be imposed on it.
It allows citizens the freedom to perform opinions and thus allowed cryptocurrencies to spread.

Without it, we wouldn't be where we are. Read the comments that come from TV and channels that have a specific mindset.

Therefore, social media is a true double-edged sword, despite its positive aspects, but it has made scam easier.

To say this I believe cryptocurrency is going to be positively influenced with the purchase of twitter by Elon musk. The hype is going to be more on the shoulder of twitter that now has a crypto ethusiast as the leader, this will definitely get more media networks to adopt crypto and bitcoin ads on their platform. Moreover crypto.com is already going to show up in the next FIFA world cup in Qatar.

Cryptocurrency currency owes it's wide range of popularity it has gained thus far to social media. The media has really exposed to many the essence of cryptocurrency to today's world entirely.

And one of such mostly is Twitter, one which has carried cryptocurrency on it's shoulder, am not sure there's anyone using Twitter that's not aware of cryptocurrency trading.

With it's transfer of ownership to a lover and promoter of cryptocurrency E. Musk, am sure the focus on cryptocurrency on Twitter will be one like no other with ads inclusive too, maybe.

Although the social media has been used in the past to demote the wide acceptance of Bitcoin and other altcoins too, it has done much good than harm.

In a world where advertisers payout millions to advertise their product during the NFL superbowl and consider it a good deal.

It definitely makes sense to leverage the free advertising capacity offered by social media and the internet. There are crypto tokens I have seen who did not have a good product who succeeded in inflating their market value far beyond what it should have been with clever adbot campaigns. The power of the internet and viral marketing campaigns definitely cannot be denied.

Floyd Mayweather was involved with ICOs. Mike Tyson owned bitcoin ATMs. Partnerships with celebrities appears to be a solid strategy for crypto tokens and coins getting their name out there.

Doesn't matter if someone will take bad on other projects, maybe those influencers are not on that project's payroll/bandwagon. Or they have a different investments so they will sway his followers against other projects.

I did say that it doesn't matter because it is still up to us whether to believed what has been said or put up on social media. Because if you will just listen to those to make decisions as far as your investing goes, then something is wrong with you.

Social media helps cryptocurrency to become more exposed to the world, despite of so many FUDs and scammers online, it still helps this platform to be recognized by many. I can't imagine Bitcoin without social media, maybe if there's no platform like this many are still not able to access good financial system. Just analyze every post you see online, and understand if its legit or not because of so many phishing site that you might expose if you accidentally click it so be careful.

This is already quite developed and brings great benefits when advertising cryptocurrencies on social networks. As an example, this is advertising of various crypto projects through Telegram, Twitter, etc. These directions are available in almost every bounty company. This works very well because many projects collect on this large fortune.

It must be admitted that the influence of social influencers is very strong for bitcoin pumps, as happened in 2021 when Elon Musk massively tweeted about bitcoin and doge so that the almost dead doge has now entered the top ranking, this is because the suggestions from influencers are very strong and make a big impact.

Nowadays, social networks are considered as indispensable means of communication for most fields. We use social media as a means of information and propaganda to promote the development of bitcoin and crypto to become more popular and known by more people while many others can also use social networks to do the opposite. So social media plays an extremely important role in the development of bitcoin. It can be said that social networks are part of helping bitcoin grow more and can kill bitcoin with bad news being spread.

BTC still are not very  known to some ages who only watch Johnny Depp vs Amber Herd news and the likes but if they  look up Munger or Buffet who are not fit to talk about BTC, there is the need to disprove them.

Twitter is an open times square according to Musk, I think its not going to be easy to defame twitter which possibly will used BTC and DOGE in the future. When all that takes place, its a super spreader of the adoption. You won't need to disprove the defamation anymore when that happens.

THis all depends on what you are posting. Social media is reflection of society and there will always be proponents and opponents of bitcoin in social space. The numbers will speak for themselves. However the true value of bitcoin is its economic value, which is rather increasing each and every day and I hope we will see bitcoin more stronger in future than it is now.

I don't understand either of these questions, though I'm pretty sure it's just a language issue.  But in particular, what do you mean by "monetary investment" in the context of social media and "defamation by the network"?  Those things just don't compute (in my head).

Mk4 kind of stated the general opinion about advertising crypto projects on social media, and I'm not sure if there's anything close to a raging debate as to whether that should be done or not.  What I do know is that a lot of scams make their way into people's feeds, and I'm guessing that's not appreciated by a lot of folks.  If a coin/token/project is totally legitimate, that's one thing and I don't have a problem with it being advertised on social media (I don't care either way, actually, since I don't use SM sites).  But after all this time and all of these scams, you'd think people would be burned out by seeing that crap.

Oh, but what a funhouse, warped-mirror reflection it is.  I think social media presents the worst of humanity, and the mainstream media only amplifies that horror by giving undue weight to what Twitter idiots have to say.  Hopefully Elon Musk will turn that whole platform over on its ear.

I %100 doubt Elon would turn that place around, he is basically the main reason why Twitter was created. The dude may not look like an unknown anonymous cause of big trouble, but the reality is that he is just like the other twitter cesspool of shit type of person but just a known person version instead of an anonymous troll version. I really doubt that it would make any sense at all for him to change twitter, he would just highlight the terrible parts of it. Remember the fact that just a few years ago when kids were stuck in a cave, this dude literally called the guy who put his life in danger to save these kids a paedophile, imagine how terrible of a person he is when he doesn't get what he wants because he is so used to doing whatever he wants and nobody stopping him, Twitter would just be a place where you should stay away forever as soon as he takes charge.

The interesting thing is that many influencers are inviting people to invest in cryptocurrencies, as did Elon Musk who massively tweeted about prospects if we invest in crypto so that it made a big difference.

It must be admitted that the influence of social media influencers is very strong for crypto prices pumping, I'm sure if Elon Musk does not make a tweet about doge then Doge will sink or even die, the presence of influencers has a very strong influence and an important role to influence investors so that many projects make it making influencers as brand ambassador.

If I may get you correctly defamation you mentioned is somthing to do with Reputation or spoiling ones imagine.
And again mentioned of social media, so if comparing both to say; social media is place to share information about some products and progress or possibly price can be share and discussed over there. Therefore, it Is good and bad place to share information depending on what context the information is being presented or whatever news you are share sometimes giving out the wrong information will affect the market price vise versa and if you are a media influencer such as Elon Musk or C_Z may or maybe take effects.

I do agree that when you look at Twitter, it is one of the worst places in the world when you are talking about social medias and how they are used, others at least have some sort of dignity but twitter really doesn't have it. Since, it is anonymous and you do not have to worry about anything you say unless it could be sued or something, then you should be fine and stay hidden and shouldn't be a problem.

Only way you could get in trouble would be getting sued for what you said and going to court about it, and that rarely happens when you look at per tweet. Hence everyone there talks terrible behind a fake nickname and never worry about anything at all. Elon cannot change that, what will he do, get people to use their real names?

What do you mean by "monetary investment in social media"?Do you mean buying Ads or paying social media influencers for promotion?I would say yes,it is worth it,but only if we are talking about the promotion of a legit crypto product or service,not cryptocurrencies.Using social media to build hype and pump the value of a cryptocurrency seems kinda sketchy to me.
Lots of shitcoin/NFT scams were promoted via paid social media influencers and I'm sure that the social networks will take some action to stop the promotion of shitcoin scams.

You already have the answer to your own question. The media is like a double-edged sword, and whether positive or negative, it is up to us to perceive and evaluate them. Not only on this market but also many other issues where information is spread to everyone and we can easily access and discuss them. Even in this area, the most obvious example is how Twitter affects this market. We can easily find tons of news about it regardless of the direction of the market.

It is a good strategy to use Social networks, just look how vast the numbers of users. I was once in bounty campaigns for altcoins and mainly used my twitter and Facebook account. Just proves that it has an impact, the audience these platforms are great and it is easy and free to use by the users. The only time facebook wasn't used is because it banned the use of it's platforms for promoting ICOs, because there were lots of reports of scam accusations that's why it ended.

Social networks such as Facebook, Twitter and Instagram are social networks that are familiar to the community. we can imagine if we promote through social media, then our friends will know it, and how many people do it, where each account certainly has a lot of friends, of course this can accelerate mass adoption of cryptocurrencies. On the other hand, with negative news about crypto, social media will also respond to it so that it has a big influence

By far Social Networks are boosting Almost all kind of crypto token and I didn't saw much of defamation of any crypto on Social Networks.
As the whole world is not digitalized, It is much easier of any project to get audience from different Social Networks platform and engage them more easily.
All the Social Networks are creating more and more opportunities for so many new projects of different crypto base networks. So I think Social Networks has more positive influnce over crypto then negative,

Also, those negative influence mostly have no basis at all as some will just spread fud without any basis. So if there is no solid backing, I believe, people will just ignore and forget it. It may create initial reaction from the viewers, but if there is no sufficient reasons for the public to believe in, it will just die down on its own. Social media is powerful but if the claim is not valid, later on, people will forget and will find out the truth about the subject because we can practically search anything now over the internet.

Sorry but I don't understand what you mean by mass maneuver networks and monetary investment?

Do you mean investment for a particular cryptocurrency or generally speaking?

1. For particular cryptocurrency, companies need to invest money in social networks to increase the awareness of their project. They shouldn't worry about the risk of defamation if they promote the legit product with the legit claims but in case defamation happens, they should be ready to wash down rumors by providing reasonable and wise arguments and Q&A. This will probably require some investment to increase the awareness of false rumors and legit claims & possibilities but at the same time, it will promote the project too.

2. If generally speaking about the investment in social media to increase the value of cryptocurrencies, then, @mk4 marked correctly, exchanges already do that staff and they are doing well. It's not so easy to defame crypto because there is a lot of money involved in it and it truly doesn't harm, social network can't defame things as media can but even after some attempts from media, we haven't seen the defamation of crypto.

That is a good crypto exposure and I think as long as they are introducing legit project we should not worry about this. Social network is a huge place where everyone is spending their time, so if the influencer features cryptocurrency we can expect adoption and maybe the price will start to rise again because of this.

It's worth thanking that influencers are such a big influence on crypto developments, and today was a big test for influencers to convince investors to buy and hold bitcoin because the last few days there was a price storm and it almost dropped below $30k.

For now, the presence of social media actually makes them rise rapidly, in fact, especially for global-based social media. There have been many examples of people liking crypto and bitcoin because they know it by accident from social media.
now that technology is growing and almost all areas are now touched by technology and social media is accessible, this can be a bigger opportunity to get to know and make crypto more developed

For several years, social media has been one of the main sources of traffic for various niches including Bitcoin and cryptocurrency-related topics. Back then without the growth of social media, we only use search engine, forums, etc., (with the exception of Friendster, MySpace, etc.)., to find relevant information about anything.

Now with social media platforms such as Facebook, Twitter, Youtube, etc., it is now easier to engage with a lot of users to talk more about Bitcoin, cryptocurrencies, etc. It plays a key role for us to become aware of what is going, how we react, respond and engage with others. 

Now we need influencers who can convince investors to buy again so as to make the price of bitcoin rise again or not drop below $ 30k, the current Bitcoin price is very worrying because it is in the range of $ 30k, if there is no concrete action from influencers then the market will continue red.

social media has indeed become the vanguard for the development of cryptocurrencies, and we can see sponsors on various social media about cryptocurrencies, this can provide knowledge to many people about the existence of crypto and its various characteristics. Their interest is of course when they listen to many successful people from cryptocurrency, so they want to be successful too. from here many of us who then learn and participate in it

Social networks shouldn't have any impact on crypto, the ones that does have some sort of impact are mainly twitter, and a small portion at instagram but not so much. I am guessing that if twitter was closed for like even a week, there would be even a bigger fall in crypto than what FED did.

Let's wait and see what this price situation will be, but the influence isn't based on twitter or any social media, it was basically just FED getting some money, they printed a ton of money so far, and want to just get some of it back, and that's all this fuss is about, hence social media doesn't really have impact as much as we think it does, even one report would change much easier.

Seeing the price of Bitcoin continues to decline of course this is bad news,
maybe there is some truth in what you say but the influencer must be truly competent and trusted,
I don't know how long the crypto market conditions like this will continue

Elon Musk, who is usually active in making tweets about crypto, has not commented on anything for a few days, maybe he doesn't want to invest in cryptocurrencies because he has got a big profit some time ago, and it seems like the top influencers will only speak when prices skyrocket and most are silent when the market Red as happened this week which dropped more than 40%.

Yes, just like the OP is expressing, the choice is still ours. I see the interplay between the media affecting different economic markets, not just money. electronic. Today's easy news sources to navigate and control makes it good/bad for the growth cycles of many professions. If we can't get rid of that control, then of course being influenced is inevitable. Being heavily involved in this market makes me see some pretty crude tricks as they are willing to spend large sums of money to fabricate information and build trends in our minds, for better or worse. It's a person's own assessment.

Unfortunately media has been always purchasable and that is the issue. Rich people could pay whatever they want and get some narrative going. In my nation we have the same narrative for a while now, one person is saying one thing and claiming that nobody else said it when there are others who have been saying the same thing for decades now.

Because, that person paid the media to make that kind of news now and that caused people to think that they are seeing what they should and all others are wrong, when in fact all those others have said it for nearly 50 years now. So all in all, media could be bought, and doesn't matter if it is regular tv news, or twitter accounts.

It has been used a number of times propagated by many shills and bagholders. They can make temporary movements in the market leading to pump or dump depending on the type of notion involved.

But the people who run such schemes usually have a army of shills ready to lead their commands. This is a long term process to brainwash those shills into following their command but eventually it works out. Use the shills to pump a certain coin while you are dumping that same coin to get a high price to sell at and vice-versa.

It does not run well with morals, but the anonymity of social networks cover their rears well. These groups are pages should be avoided by newbies.

I agree, while the mainstream media keeps talking badly about bitcoin and the market in general the general attitude that we can see in social media websites is way better, while there is obviously people that are against bitcoin there are also many other people that are in favor of bitcoin and what it represents, so overall those websites have helped the awareness and adoption of bitcoin among the population at large, something that can only be good for us.

Many projects in this space are community based. Infact all projects depends on demand and supply. Then demand and supply depends on the interest of people and peoples interests are influenced by influential personalities. And the best tool of the influencers is the social media.
Social media takes lead in everything that happens. Be it war, it is won in media, be it elections, peoples popularity is first tested social media.
No wonder Elon Musk wants to control the marker with twitter.
No wonder Trump was fought on social media.
So, in as much as there is fundamental analysis in the crypto market and it works, news is a key and news is peddled on social media.

The social media platform is a huge community that has an impact on Bitcoin and other altcoins. It could influence and affect the trust of people negatively or positively depending on the discussions and threads that are on-trend. Other personalities usually use social media platforms to shill and boost the coin of their choice which I think is also an effective strategy.

Social media was created to reach for more people. And yes it can affects people and other things in this earth whether it is for good or for bad. As a social media manager, it really help us in our campaign to create awareness to our target people, with a success campaign we can create a good number of people following our community. Social media needed to be handle properly.

for those handling their campaign via social media channels, they should be responsible on what they are communicating to the public. because some people won't do their own research but just believe on what they are reading. hence, some are misled to a wrong concept or idea. they can easily influence other people and so some are being screwed just by following what the social media is feeding them. you need to educate yourself not to get rekt in this market.

It is usually the second one more than first one. Media personalities getting involved in crypto because of its unregulated border-less nature, makes the entire trade and manipulated one.

While buying and selling is one thing, doing that on someone's commands is a different thing. But the choice always exists and to exercise the choice is to be the true trader. One should never let someone else's judgement cloud their mind. Here everyone is out for blood, deception and trickery are very common and it takes time to learn to avoid that.

Which is also why trading is a long term game, so you gradually learn how to use the movements to plan your orders - usually by going against what the influencers say.

However the problem with social media has always been the presence of false information and rumors, it is incredibly easy for a person to create a false rumor but since it sounds believable or exciting other people begin to share the rumor and before you know it there is a lot of people that have the wrong information and it is almost impossible to reach each one of them and show them the truth, so governments are also trying to use social media to try to deceive people into not investing in the market of cryptocurrencies.

It's hard to tell the difference between good news and fake news on social media because fake news is designed to convince people, unlike if the person is an amateur.
but even though the news looks convincing, it will gradually be revealed but managed to make many people believe even though it was finally caught, so what must be smart is that social media users must find out the truth by doing research.
And if it really aims to bring down crypto we as users must find out the truth and if it is true fake news we must quickly spread the news that is fake, or spread the truth if the news has no knowledge of crypto.

While you are not wrong that puts us in a passive posture, which means that at best we can react to the fake news and then try to refute them, and while the number of cryptocurrency users is very high and there are many that are interested in dispelling the myths and lies around it, at the same time people eventually get tired of having to refute the same arguments over and over again and then they abandon their efforts to convince other people of the truth.

Your taking it little wrong way mate. Social media isn’t helping with that for sure. All the influencers out there have limited out reach and not everyone is connected with like minded people! That’s fact obstacle one and second is most important, social media is fake shit and only delivers negative stuff about crypto most of the time to attract audience get benefited through advertising partners. 

Crypto currency’s do not require such action. It’s entirely based on willingness, anyone can hop in and go out. It’s free will not influencing based deal.

Social media influencers may one way or another influence someone, but it will only be short-lived.
Because once the user starts educating himself, he will understand more of this market.
And won't rely with deceiving promotional tweets or something.
Just like old crypto users, they know what's the truth whenever a popular personality is saying something about crypto.

The key here is the knowledge that we have, because as you state once people have enough knowledge they can easily distinguish the truth from the lies and they will not be easily influenced anymore by those that are spreading lies in those social networks, but the problem with that is that very few people go through the trouble of trying to educate themselves when it comes to this market, so they keep being deceived over and over again.