The Relationship between social media and Bitcoin

[Alpha Marine]

Bitcoin did not spread because of social media, but rather because it provided a solution to an economic problem, whose features began to appear in the year 2008 accompanying the mortgage crisis, urging that Satoshi did not pay much to promote this technology, unlike what is happening now, for example, TikTok paid more than a billion dollars in one year To promote and advertise, something that has not happened in the history of Bitcoin.

I kind of disagree with this.
Bitcoin was not advertised, but you can't deny the impact social media has had on Bitcoin.
Most people on this forum were never introduced to Bitcoin offline. Most, including me, first heard about Bitcoin from social media.
People saw the need to use Bitcoin and unknowingly started advertising it by talking about it. A lot of this "talking" was done on social media.
Two truths can co-exist; Bitcoin became popular because it was an innovation that provided a solution, also social media helped in the spread of Bitcoin.

If your service is good and solves a problem, it will be lucky to spread for free.

This is also not entirely true. If this were true, multinational corporations won't invest millions of dollars in marketing alone.
No matter how good your service or product might be, you might still need to market it properly or else it will get nowhere.
The biggest companies in the world still advertise their products and services.
You can't use the exception of Bitcoin and a few other things to generalize this.
Please don't take that same energy to your business because you would most likely fail. companies like Nike and Google still investing heavily in marketing should tell you all you need to know.

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[SatoPrincess]

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

Elon Musk caused a big stir in the market when he suddenly changed his tune from bitcoin to doge. I don’t think he was genuinely interested in bitcoin, afaik he only had exchanged some tweets with Michael Saylor at the time and said that he’s buying bitcoin, few months later he is saying bitcoin mining causes pollution.
Elon has a massive following and his followers will buy anything he promotes without doing their research, they have faith in the Elon because of his many successes and that blind faith causes them do act in a irrational manner.

Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I’m not sure what you mean by the “masses amasses the wealth”, there are definitely more poor people in the world than there are wealthy folks. The poverty index across nations is rising every year, so forgive me if I don’t agree with you.

[lalabotax]

Social media affects our lives in massive ways,in how we connect with our friends,the news we get,the interest we all share and possibly to actually kill time.so it's not surprising that the things people share on social media can affect the way things happen in the real world.
However,social media impacts has reached greater heights by the massive and increasing influence that it  has on digital currencies like bitcoin.
 The relationship between social media and bitcoin is expanding in exciting ways in terms of adoption,position,price/value and even the

There will be always bad and good impact on it. No wonder whatever it is  on social media.  we will really realize that Social Media is a very good platforms to promote or to introduced something to people generally. moreover right now, there are several social media that many people use the most. Many viral things happen in social media.
 But when you are telling people on social media about Bitcoin or criyptocurrency in social media, we must be aware and ready with the feedback that we will getting. Because there sare also so many baad  news about cryptocurrency. That is why wwe must have more efforts to make it good.

[serjent05]

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 significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

Yes, I agree with you on this very statement of yours about social media playing a major role in the adoption and price movement of Bitcoin ever since it go launched in 2009, and still playing a vital role today in it's use case such as being a medium where people interact, share news, latest update or even learn about how to buy their first Bitcoin, because I'm a witness to one of those who got introduced into Bitcoin through social media many years ago, and it's been a wonderful experience ever since.

Social media has connected millions of people in different countries.  They enable everyone to communicate in a centralized platform.  With that social media has been one of the most powerful platforms in terms of advertisement and marketing because the different audiences are already available.  With just one click, the adverts are getting published and everyone using the platform can view or be informed about it.  I think social media even beats the main stream media in marketing in terms of number of people being approached.  This is one reason why Bitcoin was promulgated even without the help of the mainstream media in its early years.

[darkv0rt3x]

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

It’s not uncommon for people to crowd to him because, you hope to get something out of his knowledge and resource but that in turn has become more of a tool he could twist to his advantage. Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I couldn't care less who he is. I can live very well without his influence. I'm not thinking to buy his products nor I need twitter or his tweets to live. So, unfollowing him was just as simple as clicking a button! And knowing he cannot be integer when it comes to the only trustable coin in existance, that is more than enough to lose my respect!

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

Elon Musk caused a big stir in the market when he suddenly changed his tune from bitcoin to doge. I don’t think he was genuinely interested in bitcoin, afaik he only had exchanged some tweets with Michael Saylor at the time and said that he’s buying bitcoin, few months later he is saying bitcoin mining causes pollution.
Elon has a massive following and his followers will buy anything he promotes without doing their research, they have faith in the Elon because of his many successes and that blind faith causes them do act in a irrational manner.

Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I’m not sure what you mean by the “masses amasses the wealth”, there are definitely more poor people in the world than there are wealthy folks. The poverty index across nations is rising every year, so forgive me if I don’t agree with you.

I even forgot that, about the pollution. How can a guy that creates so much indirect pollution when extraction lithium ore to produce batteries say that Bitcoin mining creates pollution??? He's just a retarded greed shit fuck. He knows very well that Bitcoin mining can even help the grid but he simply refuses to admit it just as any other powerful person that has interest in controlling energy resources!

[irhact]

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 significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

It's already playing a role in Bitcoin adoption because it's from social media platforms like twitter that many individual are getting to know about bitcoin and other cryptocurency. Whenever Bitcoin trends on twitter is get exposures to new audiences that does research on what Bitcoin is about and might buy. Social media is a very powerful tools because we spent most of our time on them and get many of our decision been influence by social media.

Instead of search engines some individual now use social media for research. There were reports of TikTok been used to search for things more than google search as they get video explanation on TikTok. Bitcoin has a very good relationship with social media and that's why it's getting very popular.

[dercfor]

For a technology like bitcoin, it is very important that it gets hype through social media. This is because the technology is very new and it needs marketing.

[Nrcewker]

We all know that Social Media is the boss to each and every news. 90% of our lives is controlled by the social media and our social media activities. The power of social media can be easily seen when Elon musk twitted about Dogecoin, and the price just boomed more than 100x in few mins. That’s the power of social media and influential people. Bitcoins can also be controlled upto certain extent in the similar manner, if a big personality wants to increase the price of the coin, then he will simply just do some posts about the coin, and the price will automatically go up.

[Onyeeze]

For a technology like bitcoin, it is very important that it gets hype through social media. This is because the technology is very new and it needs marketing.

No, I can not agree with you because some of the technology came before bitcoin technology where other technologies have not gotten the kind of firms bitcoin technology have not gotten, ordinarily social media is the most firm to make or advertise any of your technology to be more influence by different countries

[riskarcher]

Each issue of good news and bad news about crypto always pop up first on social media and it's not only Bitcoin, including Altcoin was made impact on situation of market and we can see war issue between SEC and Binance. But what i see hype of cryptocurrency only we can see on twitter there are platform the real decentralize who can impact price of Bitcoin and Altcoin, i remember when Elon musk tweet about crypto it's really something new due to He is can manipulate each price on the market

[bayudndy]

They support each other as well as compete with each other, but mainly social media has an impact on BTC, I find it always useful to spread information about it, but we can easily see bad and good news. appears a lot, sometimes it is intentional behavior to attract attention from a department towards the object they want. I know today that we easily access the internet as well as easily use social networks, I have noticed the age behavior of using social networks, when even the children in my family Only about 10 years old, they also know social networks and use them quite proficiently, it's really bad if they can read information about education, economy, politics, ... maybe part of the responsibility belongs to them about family. But through this I also want to say that not everything available on social networks is useful to us, so there should be more regulations on news censorship and ethical behavior in the process of using it our.

[Blitzboy]

They support each other as well as compete with each other, but mainly social media has an impact on BTC, I find it always useful to spread information about it, but we can easily see bad and good news. appears a lot, sometimes it is intentional behavior to attract attention from a department towards the object they want. I know today that we easily access the internet as well as easily use social networks, I have noticed the age behavior of using social networks, when even the children in my family Only about 10 years old, they also know social networks and use them quite proficiently, it's really bad if they can read information about education, economy, politics, ... maybe part of the responsibility belongs to them about family. But through this I also want to say that not everything available on social networks is useful to us, so there should be more regulations on news censorship and ethical behavior in the process of using it our.

Social media does have the power to sway Bitcoin's market dynamics, which can have both positive and negative consequences. This is especially true given the susceptibility of inexperienced investors to misinformation.

However, I'd argue that the proposal for stricter censorship runs the risk of stifling the free flow of information, a pillar of both the internet and the cryptocurrency ethos. Rather than imposing restrictions, I propose a more educative approach, where the onus is on enhancing public understanding of cryptocurrencies.

As for your observation about young children's exposure to social networks, it is indeed a matter of serious concern. But rather than attributing blame to families, I think its an issue that society as a whole needs to address. It calls for a concerted effort to promote digital literacy, cyber safety, and responsible use of social media, thereby turning this challenge into an opportunity.

[slaman29]

We all know that Social Media is the boss to each and every news. 90% of our lives is controlled by the social media and our social media activities. The power of social media can be easily seen when Elon musk twitted about Dogecoin, and the price just boomed more than 100x in few mins. That’s the power of social media and influential people. Bitcoins can also be controlled upto certain extent in the similar manner, if a big personality wants to increase the price of the coin, then he will simply just do some posts about the coin, and the price will automatically go up.

Only if you let it. I saw how bad it was for me. 90%? I think maybe if you take away the time I eat, work, take shower, sleep, I was almost 95% social media. It slowly stole from my life and work. I took a strong decision and I cut myself off from social media, and life is better.

If you're thinking to use social media to try and trade or get news about crypto, it's a bad decision. Trust me as someone who's been there and done that.

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

[Asuspawer09]

Social media affects our lives in massive ways,in how we connect with our friends,the news we get,the interest we all share and possibly to actually kill time.so it's not surprising that the things people share on social media can affect the way things happen in the real world.
However,social media impacts has reached greater heights by the massive and increasing influence that it  has on digital currencies like bitcoin.
 The relationship between social media and bitcoin is expanding in exciting ways in terms of adoption,position,price/value and even the popularity.it is used to convey information about the crypto world,as well as to promote the content about cryptocurrency.What people are saying on social media can trigger or encourage someone to participate by wanting to trade,mine, or invest in bitcoin.
It started from the forums that discussed cryptocurrency’s humble beginnings. Now, it makes headlines on our favorite social media apps. With popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) reaching all-time highs on a regular basis, it isn’t at all hard to believe that these digital currencies are trending. Trends on social platforms can influence investor behavior, leading to price rises or perhaps drops. For example,an announcement from Elon Musk that Tesla had bought $1.5 billion of bitcoin and that they would be accepting bitcoin for purchases caused the price of the currency to hit an all-time high.
  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 significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

Media, Social media, news, etc play a big role in the market I mean most of the time the movement of the market depends on the news of Bitcoin, if something bad happened and it's written in an article and news it is surely going to affect the market probably going to drop the market price with a few percentages. Same thing when the market price is increasing that is because of the good news and articles online hype etc. Advertisement surely is a big role and affects the market a lot. In the first plays that is where most of the hype came from. We see a lot of advertisements on social media these days about cryptocurrency, and these advertisements affect a lot of people to the point where a lot of investors are getting scammed because of trusting what they see in advertisements.

We also need to be aware seems it can easily be use to spread false information, with that they can easily manipulate the market, that is why a lot of platforms are getting a lot of issue because of personal information because social media can easily make you believed so something that is not true and can manipulate us.

[xSkylarx]

Each issue of good news and bad news about crypto always pop up first on social media and it's not only Bitcoin, including Altcoin was made impact on situation of market and we can see war issue between SEC and Binance. But what i see hype of cryptocurrency only we can see on twitter there are platform the real decentralize who can impact price of Bitcoin and Altcoin, i remember when Elon musk tweet about crypto it's really something new due to He is can manipulate each price on the market

Even influencers tell their followers to buy those altcoins, and those who follow the influencers will also buy them. Social media is really powerful in business aspects, even in Social media, as this is where they spread news and awareness of it. You are right, there are groups not only on Twitter that are kind of manipulating the price, but not on Bitcoin; it is on altcoins, where they just know each other online.

[CryptoHeadlineNews]

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.

[taufik123]

-snip-
Even influencers tell their followers to buy those altcoins, and those who follow the influencers will also buy them. Social media is really powerful in business aspects, even in Social media, as this is where they spread news and awareness of it. You are right, there are groups not only on Twitter that are kind of manipulating the price, but not on Bitcoin; it is on altcoins, where they just know each other online.

They are just influencers who are paid or utilize their followers to buy the altcoins they choose with the aim of FOMO, so they can sell more expensive.

There are many such practices, and they even include memecoin as a suggestion to buy. Look at how hype $PEPE is, it's very biased.
They are Influencers and as Whales promote memecoin at the beginning with good development potential and they will take advantage of the hype to take a lot of profits.

All altcoins are used as speculative tools including Bitcoin and also do some market manipulation and such practices.

[mich]

I think there is a big relationship with Bitcoin and social media. Social media is a powerful tool to use if a person wants to get his point out. It can be used for educating big groups of people and do it very quickly and with just a post or status or tweet.

If someone has millions of followers, many of them will get the message. And since social media is a big pert of our life now we are always going to be seeing new content. There is many Bitcoin influencers with big followings and they do a good job at spreading the ideas and how important Bitcoin is.

[Silberman]

-snip-
Even influencers tell their followers to buy those altcoins, and those who follow the influencers will also buy them. Social media is really powerful in business aspects, even in Social media, as this is where they spread news and awareness of it. You are right, there are groups not only on Twitter that are kind of manipulating the price, but not on Bitcoin; it is on altcoins, where they just know each other online.

They are just influencers who are paid or utilize their followers to buy the altcoins they choose with the aim of FOMO, so they can sell more expensive.

There are many such practices, and they even include memecoin as a suggestion to buy. Look at how hype $PEPE is, it's very biased.
They are Influencers and as Whales promote memecoin at the beginning with good development potential and they will take advantage of the hype to take a lot of profits.

All altcoins are used as speculative tools including Bitcoin and also do some market manipulation and such practices.

The most troubling aspect of all of this is that I could understand if people were losing money this way at the early stages of this market, as at the time it would have been difficult to know those coins had no future as there was not a previous history of this market we could refer to, but now we have a long history of tens of thousands of coins which have failed, so I would have guessed most people would have learned their lesson already and most altcoins would have disappeared and no one would be interested in them, but if anything the interest is higher than at any other point on the past.

[Aanuoluwatofunmi]

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.