Crypto misinformation is turning into an issue for people new to the game.

[adzino]

Fake news are everywhere. It's not just about crypto currencies. If someone reads a news and starts believing it without even trying to find out if its true or not, then its the users fault for being extremely gullible and not even trying to verify the facts. Read news from authentic sources. Try to verify the claims. Don't read random clickbait facebook or twitter posts. It's that simple, isn't it?

[isaac_clarke22]

~

Thing is scam would be always everywhere. Everything that would involve money and worse it is being done digital. This time I am wondering if my colleagues are going to be scammed anytime soon, now that NFTs are like pretty hyped here in my country and they buy this and those relentlessly just because a certain "someone" referred them that it would go 8x or even to the moon. It is a dangerous world out there, OP.

OP, this thread seems to be more fitting in the Altcoin board since it is not focused that much to Bitcoin.

[Welsh]

Maybe a solution is to adopt a top answer feature in the forum. Let's say there's a misleading info thread, A bot can automatically choose the best answer based on the merit received of a certain post just like on Quora which really help user to filter the quality answer out of the garbage post.

I don't think this forum or any other forum is the problem, yeah there's misinformation here, but when it's posted on a forum like format it's more likely to be called out by other users, and debunked. I think it's the news sources that the general population sort of trusts even by just reading the title that's the problem. I have no solutions to the problem, since the only way you would be able to do it is via censorship, and that definitely isn't an answer, potentially governments could be persuaded to bring in legislation, after all they should really be against misinformation, even if it's for a currency that they might not want to support.

[oktana]

Truth is, no matter how you want to say it, someone will always fall a victim. Crypto scams started long ago and since then, there has been threads and blogs teaching people how to spot them and how to keep away from them, but, even as I type this, it's sad that someone is falling for some fake investment scheme. I'm really hoping that they apply common sense when they face scammers and if they fall, I hope that serves as a lesson. Besides, I don't blame the newbies: these days, fake/scam crypto projects are disguised!

[Welsh]

Truth is, no matter how you want to say it, someone will always fall a victim. Crypto scams started long ago and since then, there has been threads and blogs teaching people how to spot them and how to keep away from them, but, even as I type this, it's sad that someone is falling for some fake investment scheme. I'm really hoping that they apply common sense when they face scammers and if they fall, I hope that serves as a lesson. Besides, I don't blame the newbies: these days, fake/scam crypto projects are disguised!

Common sense sure, we could probably do with more of that in the world. However, misinformation isn't something that is easy to spot when you are new to something. Bitcoin is also incredibly complex, and some of the misinformation out there isn't actually intentional. You only have to go over the Development, and Technical Discussion section, and you'll see users getting it wrong unintentionally all the time, that isn't a problem though, it's when someone thinks they know something, and decides to make a guide or educational post about it, which we've definitely seen in the past.

[Sanugarid]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Being skeptical and using your common sense to whatever information we see in social media platforms is really a good trait for people who's still new in crypto world and it will definitely save you from fraud/scams. Just like what most people say, If its too good to be true, then it probably is. So always seek advice for veteran people in crypto and take it into consideration for your decision making.

[cotton ball]

wrong information often creates problems for us beginners, sometimes we are just learning to invest in bitcoin, feel doubtful, because we always hear negative news about bitcoin, and sometimes we beginners easily believe the media that posts negative things about bitcoin, now I will continue to invest in bitcoin, from now on I will never trust again, with media or posts that spread false news about bitcoin..

[michellee]

If those new people can research before investing and not just by reading news, they will not get in the trap of scammers. Sometimes, they do not want to search for more instead just buying the new token and expect to make a big profit in a short time. That can happen if the project is really good and can convince the investors and have good progress or movement in the market.

However, that is not easy to invest in one or two new projects if we do not know much about the project and many of them are using big money to buy at first. That will not recommend for them as they can lose the money anytime.

[dupee419]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Lack of information is the common enemy when something new is being introduced to people, and since cryptocurrency is on the rise, some people lack the knowledge to actually determine what could be a scam and what could be legitimate, if your friend didn't confont you he would have actually lost his money.

Fact checking is something that we actually do not do whenever we invest (this is common to newbies who lack information or literacy when it comes to identifying what is real and what is not), especially when we get blinded by the project's fake promises, and then *poof* the site is gone, everything disappeared, and also the money you invested.

[Taskford]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Lack of information is the common enemy when something new is being introduced to people, and since cryptocurrency is on the rise, some people lack the knowledge to actually determine what could be a scam and what could be legitimate, if your friend didn't confont you he would have actually lost his money.

Fact checking is something that we actually do not do whenever we invest (this is common to newbies who lack information or literacy when it comes to identifying what is real and what is not), especially when we get blinded by the project's fake promises, and then *poof* the site is gone, everything disappeared, and also the money you invested.

This is one of big mistake by newbie since mostly they always goes hype on something they think profitable that's why they are the favorite target of scammers since they really don't do a proper research on what they are going to invest.

Also they are the one who will defend if there's someone debunk the platform where they put there money on and try to invite more in the name of earning a referral.

And for the scamming happens which is totally visible hopefully all will learn a valuable lesson since that incident is really an eye opener to those people who believe that there's an easy way to earn money.

[ChiBitCTy]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

This is very unfortunate and something that is rampant when it comes to financial stuff.  Being a financial advisor I am constantly meeting with clients who are always saying "so and so at work said this about the retirement plan" and 99% of the time the information is not only false, it's hurtful (meaning it often does a great deal of harm to ones portfolio)..I see the same here on bitcointalk.. it AMAZES me that so many people are willing to talk out of their ass like they do.

[tulusikhlas]

Usually the application of this information when a person often does not know where to refer to accurate information. While recipients of information such as beginners tend to prioritize the results of points only. Like most crypto news which only shows profit, on youtube videos, Tiktok and other social media also those who deliberately display profits but do not fully understand crypto flow.

It's not the accuracy of information, it's more on the people that are ignorant and that they disregard or don't do any research first because they think that cryptocurrency and all of it's affairs are pretty easy. Plus, a lot of dumb experienced crypto users overhype crypto to the point that it's a lie already.

That's what influencers do to influence their followers so that they seem to believe 100% because it shows success, without following up on the truth of the information obtained. Everything is considered right and not wrong at all. We see this phenomenon a lot, especially when a severe pandemic causes people to tend to look for shortcuts to maintain life.

[BITCOIN4X]

Its all about perspective my friend. Considering something as a game doesn't mean that you can't take that thing seriously. A game is a concept of how you will play your cards the right way to win. And winning in this perspective is earning.

But are you sure to think that trading and investing in bitcoin is something that can be considered a money game?

Some time ago I had an argument with someone who said that bitcoin is a money game where he said the price was beyond logic. I don't think it's good to argue with stupid people and don't understand what bitcoin is because in the end you will lose by their selfishness and stupidity even though you have shown them facts and evidence. That's what I do. You may need to clear up any misconceptions about something that has great functionality like bitcoin and you shouldn't call it a money game.

[Sollaes]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Actually, some years ago people suffered from the lack of the information, and now they are suffering from too much information, unverified information that can be just advertisement from bloggers sometimes and people believe opinions of more experienced players and follow them. But we shouldn't rely only on others and learn how to make money on this market on our owns.

[Dread Pirate Roberts]

This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

always happens to people who are new to the crypto bussiness circle. they are tempted by the promises offered without seeking deeper information and more sources. and for education like that, it seems that many have done it. but maybe the information not reach to them because they may not find out about it in the first place.

[Jackl87]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin.

The whole cryptospace is a really wild place and can therefore be very dangerous especially for people that are new to this kind of environment. Here we have a lot of scam projects, that are created within a day and their only purpose is to do a rugpull. Then there are the hundreds of meme tokens that came up in the last weeks and months. I am pretty sure that projects made a lot of newbies lose a lot of money and only a few lucky ones made profit with them.

[southerngentuk]

Anyway, this is part of the space, and we are always trying to help all newcomers, but their skepticism will cost them other things if they don't want to trade their trust.
Those who rely too much on news influence also need to review their sources as well as draw their own conclusions after the news they receive, personally I think news in this field is just a Part of the important factor is psychological control before the news.

[TheGreatPython]

It's not the accuracy of information, it's more on the people that are ignorant and that they disregard or don't do any research first because they think that cryptocurrency and all of it's affairs are pretty easy. Plus, a lot of dumb experienced crypto users overhype crypto to the point that it's a lie already.

That's what influencers do to influence their followers so that they seem to believe 100% because it shows success, without following up on the truth of the information obtained. Everything is considered right and not wrong at all. We see this phenomenon a lot, especially when a severe pandemic causes people to tend to look for shortcuts to maintain life.

Due to some good activity in social media It's going to have very bad impact on crypto because very few peoples following real channels and news sites for all truth and solid news mostly newbies jumping in this way which is hurting them very badly and currently on one able to give them some better understanding and guides.

I check many newbies fall into beautiful headlines and for very quick profit they invest in scam projects or dumb coins which end in lost, and they have nothing at end they must have to check authentic news or channels for this all and then after better understanding then can take some good return.

[goinmerry]

I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Sometimes it's the user's fault. Being new to the game is not the reason why they end up being scam. Greediness and laziness are always there. If only these people, like your friend, use their common sense in that scenario, they will be saved from being fucked by that scam coin. Moreover, that experience should teach those people who fall on scams. I've known some newbies that know how to differentiate the scam or not. If they did, others should can.

[dezoel]

It is very important as a newbie to calm down when you’re making decisions in the market. As a newbie I never rushed, I made a character for myself to always calm down and look into things before I make my decision. Whenever I received a news I make sure that I first wait to verify if it’s correct or not before I start buying in whatever the news has to say. It has helped me a lot. Some newbies will come and within their first period they are already investing in cheap coins that they know nothing about.

I had to invest in Bitcoin for a long time because I was trying to play it safe, although there are no regrets because Bitcoin itself is very profitable than mist of these altcoins, if not all. When I started investing in altcoins I have already gained much more experience and able to tell easily when a project is a scam or legit.