Bitcoins and Influential Social Networks

[Pomogator]

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?

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.

[Sir Legend]

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.

[DanWalker]

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?

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.

[cabron]

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.

[amishmanish]

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.

[The Sceptical Chymist]

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?

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.

Social media is reflection of society

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.

[Captain Corporate]

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.

[Bitcoin2009]

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.

[19Nov16]

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.

[Adbitco]

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.

[justdimin]

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?

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?

[davis196]

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?

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.

[FairUser]

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?

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.

[kaya11]

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?

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.

[horrifiedx1]

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

[yawars20]

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,

[24Kt]

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.

[Synchronice]

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?

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.

[crzy]

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.

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.

[Wong Gendheng]

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.