The Relationship between social media and Bitcoin

[rikybrosh]

bitcoin and every cryptocurrency are very depend on the sentiment, if the sentiment is positive then the result for cryptocurrency will be positive as well and vice versa. but unfortunatetely many people use social media such as youtube, intagram, facebook , tiktok and etc only for earn money whether by using google ads or sponsored product. This condition made some people do anything to get more engagement although they have to leads people's opinion toward what they want only for their benefits. they can spread about scary news about bitcoin or any bad news only for attracts more people to follow them using afraidness. I suggest all people to only looking for news in this forum only and only use social media to spread good things about cryptocurrency.

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[suzanne5223]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

[imamusma]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

A person's level of awareness of one thing or another is influenced by many factors and one of them is intelligence. We know that the digital era has made it easier for the average person to get new information quickly at any time, but when they are not smart enough to use it, of course, knowledge and exposure to that information will not be achieved.

I agree that social media plays an important role in one's growth and interest in bitcoin. In marketing strategy, many centralized platforms and influencers are leveraging social media to attract new customers, and indirectly bitcoin has managed to gain more visibility worldwide.

[slaman29]

Bitcoin, btw, can't be controlled by Tweets anymore. Unless idiots massively follow and do something nonsensical after it.

So in such a scenario where people after seeing a tweet start doing nonsensical things,  what will you call that? Has the tweet controlled Bitcoin or not? It has, because by virtue that the tweet literally made people act in a certain manner against their will which affected Bitcoin, it has controlled it, of which out of everybody in this world, there are two bigger influencers that I know just a single tweet of this about Bitcoin negatively or positively could make its price swing into a different direction, and they are "Elon Musk" which we once saw what his tweet did and "Changpeng Zhao" the CEO of Binance, crypto's biggest exchange in the world.

That's regular dumb moves made by people, but it's all very very very very short term. If you can cause a twitch in a body but can't determine what the body does, are you controlling the body?

If you knock a hammer on a resting knee at the doctor's, you are asking for the "knee jerk" reaction. It's all that is. It's not controlling the body, it's asking for a jerk. It lasts less than 1 second.

So is the hammer controlling the body? No.

So the Tweet controlling sheeple? YES absolutely. Tweet controlling Bitcoin? Come on, ask yourself the question properly again. Elon Musk controls people's minds, I bet you all my BTC he can Tweet about Bitcoin every single day and name his next child Bitcoin, and BTC price might go up, but it'll go back to normal after all the sheeple calm down.

[SirLancelot]

How people trust social media and what the damage can be if it was informed Then people would never have blindly believed media. Social media is one of the tricks to fool people these days. Firstly, people are attracted by different types of ads or news , Then they take away their wealth from people in various ways. There have been many reports of bitcoins being hacked from wallets. Various sites have been hacked and looted of their tokens or funds. A few days ago USA issued such comments against Binance. If such big exchanges are doing this then who will we trust.

First of all, let's take out the US accusing Binance of doing scams as that out of the conversation because that's a totally different agenda and requires discussions and arguing separately, and let's talk about the negative influence of social media over people's wealth and possessions. I totally understand that scammers have made social media platforms their hub for gaining victims and looting them out of their money with different tactics.

But if I am honest, it's not their fault alone, it's us who get greedy very easily and fall into their traps because they generally use this tactic of promising high returns on investments which we think might be our opportunity to become rich overnight but in reality, it's going to take away what we already have. So, people need to be more careful and vigilant and understand that there is no easy money anywhere in the world.

[ItsCrafty]

First of all, let's take out the US accusing Binance of doing scams as that out of the conversation because that's a totally different agenda and requires discussions and arguing separately, and let's talk about the negative influence of social media over people's wealth and possessions. I totally understand that scammers have made social media platforms their hub for gaining victims and looting them out of their money with different tactics.

I really agree with your view. In fact, there are many types of such matters, situations and factors that the social media has complete mastery control. So if we look at Bitcoin itself and keep in mind its volatility, sometimes we get hurt a lot from the news, especially what is spread on social media. I t is possibly about something. But if we do the realistic analysis, then our line to success will definitely be different from others. so if you are doing any kind of trading, specially Bitcoin, always be realistic and do a thorough analysis before investing anywhere. 

[blackened515]

I believe there's more to talk about when discussing social media and bitcoin because many people today who have adopted bitcoin would have come across it from the influence of social media, now the adoption has gone widespread than the social media could influence because the people have really made the discovery of bitcoin in one way or the other today through many means other than social media.

I would have wonder what will be the outcome of cryptocurrency without internet, it's made clear that billions and millions of people are online daily, either to sort out their online tasks, and they encounter crypto ads. Some are ignorant while others hunkered to find more vital information concerning cryptocurrency. Cryptocurrency speedily spread around the globe with the access of social media, because the world is advancing and we have our smart phones available to surf the internet inother to know what's happening and trending on news, in that process Crypto is acknowledged.

[Mr.suevie]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

Thats correct, social is a large contributor when it comes to the awareness of bitcoin and other crypto project but there is also the downside of this as social medium is where all FUD about bitcoin is been shared also by some agencies which to fight against the spread of bitcoin which are the government of some countries. The FUD of bitcoin is largely spread in the social medium platform and this has caused wrong perception to the acceptance of bitcoin too.

[CryptSafe]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

Truly the bitcoin army is very active on social media and I would also agree to the fact that some people are yet to hear about bitcoin which is very correct but these people we assume they are possibly rural dwellers  with no technological knowledge. They are not familiar or conversant with new morden technology and that has been that challenges.

[suzanne5223]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

Truly the bitcoin army is very active on social media and I would also agree to the fact that some people are yet to hear about bitcoin which is very correct but these people we assume they are possibly rural dwellers  with no technological knowledge. They are not familiar or conversant with new morden technology and that has been that challenges.

Yes, 98% of the people that have heard about Bitcoin are rural residents. We have some people from the urban area who have heard about Bitcoin but are yet to be aware of its potential and the benefit of joining it now.
I am saying this base on what I experienced some days ago at an IOT event.

[loopes]

 Social media has the potential to affect bitcoin positively, but it can also have negative consequences, causing both large rises and falls in price.Perhaps,it is the first place people go to when they want the latest news on bitcoin;you see them in places like Twitter,Reddit and Youtube.They want to know what people are talking about and what the next big thing is.
Basically, what I'm trying to say is that social media is powerful,and its high time we understand that no matter how good or bad a post is,it has the potential to affect the market. Possibly, I believe social Media will play a signtificant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

But as long as you use bitcoin in right way it will affect positively. for example, every investors including bitcoin investor need to read news about their investment to anticipate how the fluctuations will be going. So, with the social media they can find news easily then help them to make anticipation planning towards the fluctuation of the price.

[CryptSafe]

A lot of people happen to hear about Bitcoin through social media because social media is part of the life of people from the age of 12 - 60years and it was once the venue where people communicate, make friends, and juicy and gossip news so the army enthusiasts took advantage of it to showcase Bitcoin. Besides, the number of the cryptocurrency army we have on social media is more than the forum and despite the awareness created through social media we still have some people who are yet to know about Bitcoin.

Truly the bitcoin army is very active on social media and I would also agree to the fact that some people are yet to hear about bitcoin which is very correct but these people we assume they are possibly rural dwellers  with no technological knowledge. They are not familiar or conversant with new morden technology and that has been that challenges.

Yes, 98% of the people that have heard about Bitcoin are rural residents. We have some people from the urban area who have heard about Bitcoin but are yet to be aware of its potential and the benefit of joining it now.
I am saying this base on what I experienced some days ago at an IOT event.

No doubt mate. I have had the the experience too. In my country, the village dwellers are very far from information technology and as such have no idea of what is really happening in the cities. Most of them have not heard much about bitcoin. They are characterized by many attributes that I think would be very difficult or would take a long time and process to get them integrated into the system.  Most of them does not have the financial will and cannot afford an android phone not to talk of internet connection or electricity to keep them online 24hours.

[Peanutswar]

Before the bitcoin can stand alone and of course to get know with the bitcoin people keep spreading of it until it comes into different platform such as social media. Influrnecers and creators promoting they are using bitcoin those now may affect with the Bitcoin. People getting more curious of it reason why they make a try and invest once they know how it work and what are the way to earn they grab the opportunity to make money on this but of course not all the time the crypto works so fine people losses and keep sometimes people stay. Social media nowis one of the best tool for promotions to get more investors.