The Relationship between social media and Bitcoin

[dansus021]

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

[Blitzboy]

Social media can not be overlooked in this modern-day world. It has played vital roles in many ways from advertising to information dissemination, makings friends and connecting worldwide, etc.  To the best of my knowledge, social media seems to be the outstanding means of promotion in this current day dispensation for instance, most projects that rose to stardom did promote their projects here, and virtually no project would testify of not using social media trying to build their product and community. Social media is the next to reaching out to the followership of every project through the constant update and also fielding questions from prospective clients and possible consumers and end users.

I am of the opinion that social media played a good role in announcing the presence of Bitcoin's inception. If a survey is to be done now on how people got to know about Bitcoin I believe the majority of the response would definitely point towards social media as their first encounter before possibly being told about it by a friend or family member. I myself am a witness to it as I had a similar experience as I initially explained. Moreover, exchanges did their promotional content on social media which also incorporates the exchange and swap of native tokens, fiat, and other currencies for bitcoin. All this awareness was done through social media. Which I believe they saw as a strategic marketing tool for letting the world know about their presence and the services they rendered which also includes bitcoin trading and storage.

Although there are other negative aspects of it too which has caused more harm than good in the society. FUDs, Scams, Hate speech, etc have been brought to the detriment of the masses through social media which has not gone down well with many. Lives were lost and properties destroyed as a result of social media hype. All these put together are also effects of social media in the world today.

Indeed, social media has been a key player, but let's not forget the transformative tech at Bitcoin's heart – blockchain. Its potential stretches far beyond just digital money. Like social media, Bitcoin democratizes power and nurtures worldwide links, painting a picture of our interconnected digital age.

Exchanges smartly utilized social media's broad reach, enticed by Bitcoin's glittering prospects and the exciting rush of trade. The blend of high-tech and easy access was too alluring to resist.

However, every silver lining has a cloud. The negative aspects you've pointed out are the unfortunate flip side of social media. These challenges arent exclusive to Bitcoin or blockchain. They mirror wider societal issues. Lets not let these cloud the hopeful future that Bitcoin and blockchain herald.

[bluebit25]

Social media has become an important tool in promoting, educating and motivating users interested in btc and cryptocurrencies in general. Social media platforms like TW, RED, YT, Tiktok,... provide a space to share information, opinions, and experiences about btc. This makes it possible for users to stay up to date with the latest news, discuss with the community, and gain knowledge about cryptocurrencies. But it should also be noted that through social media, information about btc can be distorted or spread rapidly, affecting prices and user behavior. Any change in posts, critiques, or announcements from celebrities, big investors like Elon can create huge swings in the value of btc. Therefore, users need to have vigilance and the ability to analyze information to make smart investment decisions, not everything that is spread has a good purpose.

[CryptSafe]

Social media can have both "good" and "bad" influences on the Bitcoin price and it's success. It takes only one bad post from a well-known influencer for the speculators to run for the hills and to dump their coins.

We are currently seeing that with all the things that are happening with Binance and the SEC. A while ago, Elon Musk said something bad about Crypto currency investments and the price went down.

Elon Musk use social media to push his own agenda and he has been warned not to manipulate markets with his Tweets.  

You are right Sir. Social media can be used as well to manipulate the market with fud through celebrities and  others. Celebrities with large followership tends to use that as an advantage to persuade or convince their followers through their social media handle to control market trend and to draw attention to products as well.

Big celebrities do this often times and are mostly sort after by big companies. Some of the companies make them brand ambassador because of their large social media followership so they could easily reach out to them. Crypto projects approach them too for promotion because of their large social media followership. So you can see that social media plays a vital role in creating Crypto awareness.

[Dunamisx]

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

Despite that most of us here discover bitcointalk through the social media or websites and google search of any related keyword that goes along bitcoin, this is a digital currency that has to do with diverse opportunities and people like the fact it's informative and educative, with the use of this same social media we can have the bad and good experience out of it depending on how we were able to utilize it for our own good and benefit, and our children should rather be exposed to this as well when we feels it's more secure for their age.

[fuguebtc]

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

Social media is not only a powerful weapon, but in my opinion, it has become an indispensable part of our lives. Not only does it have a positive/negative impact on bitcoin, but it affects our daily lives, it's almost impossible for us to stop using it. Social networks are an integral part of any business or individual, apart from the elderly and disabled, I don't believe anyone can survive without social networks. 
As for the cryptocurrency market, I see that social networks bring more benefits than harm, without a social network for us to share opinions freely, many people still do not know about the existence of bitcoin. I am also someone who knows bitcoin through social networks.

[UchihaSarada]

Social media is not only a powerful weapon, but in my opinion, it has become an indispensable part of our lives. Not only does it have a positive/negative impact on bitcoin, but it affects our daily lives, it's almost impossible for us to stop using it. Social networks are an integral part of any business or individual, apart from the elderly and disabled, I don't believe anyone can survive without social networks.

It is harmful, not helpful.

If you don use social media and read cryptocurrency news too much, you will not be panic and sale off your coin. Market sentimemt is contributed a lot by uncertain emotion and chaotic decisions of many people. They are uncertain and fearful because they read too much articles, tweets on social media.

When they turn off Internet, log out their social media accounts, they will feel better and they must watch the chart less often too.

[CryptSafe]

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

Social media is not only a powerful weapon, but in my opinion, it has become an indispensable part of our lives. Not only does it have a positive/negative impact on bitcoin, but it affects our daily lives, it's almost impossible for us to stop using it. Social networks are an integral part of any business or individual, apart from the elderly and disabled, I don't believe anyone can survive without social networks. 
As for the cryptocurrency market, I see that social networks bring more benefits than harm, without a social network for us to share opinions freely, many people still do not know about the existence of bitcoin. I am also someone who knows bitcoin through social networks.

Indeed it is "indispensable part of our lives"  sir. These days, businesses rely solely on social media for strong advertisement and publicity. I remember back in the days before the inception of the social medias, people do go to the TV stations and radio stations for advertising and awareness which i believe not every body has because before one could get those gadgets, it cost much and they are not mobile but this current dispensation is no longer so compared to the past with your smartphone, you can view updates from any part of the world from your social media handle and as well make advert and promotional content online with no much stress. This is the point at which the social media has gotten to.

[Flexystar]

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.

In reality crypto associated technical talks only happen in the forums. The more technical you want the more relevant forums you should be looking at. Why to go far, just enter yourself in the technical sections of Bitcoin talk, and everything is enough to understand. There is so much knowledge that you always feel yourself distant from it.

While on the other hand, if you study what goes inside social media such as twitter, Instagram, YouTube, Facebook etc., then you will understand how irrelevant they go with their contents and how it is not the place to understand the crypto space. All they do is, publish some content just to get the views and get paid. Some literally go further and talk insane things which attract the crows just to see if it is real or fake. Just choose your media carefully.

[AicecreaME]

Social media are full of scammers, even in a legit cryptocurrency group, scammers can't be avoided especially if your post obviously says you're a newbie that need a guide in cryptocurrency, trust me, your DM will be flooded by fake accounts who are offering you "help". Lot of people in social media always fall to ponzi schemes, or pyramiding investment, in short, those too good to be true kind of investment.

So in my opinion, social media is not the right place for someone to look for cryptocurrency tutorial, unless you know someone who'll guide you through it, and don't forget to be always cautious.

[btc_angela]

Social media is not only a powerful weapon, but in my opinion, it has become an indispensable part of our lives. Not only does it have a positive/negative impact on bitcoin, but it affects our daily lives, it's almost impossible for us to stop using it. Social networks are an integral part of any business or individual, apart from the elderly and disabled, I don't believe anyone can survive without social networks.

It is harmful, not helpful.

That's why we should learn how to read between the lines news that comes out from social media.

If you don use social media and read cryptocurrency news too much, you will not be panic and sale off your coin. Market sentimemt is contributed a lot by uncertain emotion and chaotic decisions of many people. They are uncertain and fearful because they read too much articles, tweets on social media.

When they turn off Internet, log out their social media accounts, they will feel better and they must watch the chart less often too.

Well you can read social media and not affected with the news and not panic at all. It might take years though and maybe lessons from the past that makes you not trust social media at all. You can just laugh it out when you see news that is not true as most of the crypto authors didn't validate any news.

So the best way to do is just follow official accounts, but still just be very cautious as well.

[xSkylarx]

Social media are full of scammers, even in a legit cryptocurrency group, scammers can't be avoided especially if your post obviously says you're a newbie that need a guide in cryptocurrency, trust me, your DM will be flooded by fake accounts who are offering you "help". Lot of people in social media always fall to ponzi schemes, or pyramiding investment, in short, those too good to be true kind of investment.

So in my opinion, social media is not the right place for someone to look for cryptocurrency tutorial, unless you know someone who'll guide you through it, and don't forget to be always cautious.

It is also a scammers playground. It is better now to learn it via a forum like here or try to find an online tutorial that is legit. We can't really avoid scammers, but we should be cautious of anyone. That is why it is better if you have someone who knows crypto so that you will know where to start. Even if you've just asked a question in a group, it would be flooded with links as they are persuading you to join their ponzi schemes. What's really best about social media is that we can easily find information there, like news, that keeps us up to date.

[jeraldskie11]

Social media are full of scammers, even in a legit cryptocurrency group, scammers can't be avoided especially if your post obviously says you're a newbie that need a guide in cryptocurrency, trust me, your DM will be flooded by fake accounts who are offering you "help". Lot of people in social media always fall to ponzi schemes, or pyramiding investment, in short, those too good to be true kind of investment. .

Actually, scammers were active even before social media was founded. Their objective is to identify a possible victim, particularly one who lacks knowledge. Because they can engage with others online, it will make easier for them to find a victim. But I completely disagree that social media is bad because it contributed to the success of Bitcoin. The social media in Bitcoin has both pros and cons, depending on how we look at it.

[CryptSafe]

Social media are full of scammers, even in a legit cryptocurrency group, scammers can't be avoided especially if your post obviously says you're a newbie that need a guide in cryptocurrency, trust me, your DM will be flooded by fake accounts who are offering you "help". Lot of people in social media always fall to ponzi schemes, or pyramiding investment, in short, those too good to be true kind of investment. .

Actually, scammers were active even before social media was founded. Their objective is to identify a possible victim, particularly one who lacks knowledge. Because they can engage with others online, it will make easier for them to find a victim. But I completely disagree that social media is bad because it contributed to the success of Bitcoin. The social media in Bitcoin has both pros and cons, depending on how we look at it.

Social media is full of scammers for which we all know. Before the advent of social media, scammers do exist and dey do that face to face with their victims years before now not to talk of now when is some worth manipulative by them to get what they want without meeting with their victims face to face. Before one does anything financially related online one needs to be very sure and must have done his/ her own research before engaging so as not to cry foul in the entire end of it.
This makes social media two sided known for the good and the bad with advise of being careful on how you deal with strangers online.

[isaac_clarke22]

Social media is full of scammers for which we all know. Before the advent of social media, scammers do exist and dey do that face to face with their victims years before now not to talk of now when is some worth manipulative by them to get what they want without meeting with their victims face to face. Before one does anything financially related online one needs to be very sure and must have done his/ her own research before engaging so as not to cry foul in the entire end of it.
This makes social media two sided known for the good and the bad with advise of being careful on how you deal with strangers online.

To be fair, there are still locals around my area that uses social media to do some crypto transaction since not everyone here knows that this forum exists anyway. Considering that you can create so many accounts in social media sites like Facebook with fair interval without getting questioned, it's far more prone to scammers recurring over and over again.

Here in the forum, you cannot just make a new account and expect to victimize or scam people that easily considering that there are ranks and reputation system in here although I know that there were still reputated members in here that just went dark to leave other users to dust. You can't just really trust anyone online.

[ElmedoRator]

You need to remember that social media does not always provide accurate information and can lead to undesirable consequences in your investment decisions. Beware that information on social media can be confusing and unreliable, social media has the potential to greatly influence the cryptocurrency market, including Bitcoin. On social media, information about cryptocurrencies can spread quickly and can create a stimulus or interest in trading, investing or mining Bitcoin. Some pieces of information from celebrities like Elon Musk have created massive price swings for Bitcoin.  If you are interested in Bitcoin and want to understand the latest trends and information, join official Bitcoin communities, like Bitcointalk, official websites of crypto-related organizations or specialized group of experts. This helps you get accurate and reliable information about Bitcoin.

Remember that investing in Bitcoin and other cryptocurrencies is risky and requires careful research before making a decision. Use social media as a tool only to find out and update information, but always place an appreciation on an official and reliable source of information.

[Cryptomultiplier]

Social media had been a revelation for this age because it serves as a number one journalistic tool, which can reach every corner of the world with the right or wrong information with only just an access to a device and internet.
Both BTC and social media are technological innovations that has somehow transfered the power of reliance on major bodies/agencies that would normally offer these service and has put into the hands of the user/individual the power to use it to better their life's and businesses.

We are seeing more advancement in Web3, Metaverse and Blockchain. Not even news channels can deliver the right update as good as social media which is instant. Soon individuals would be more independent, both in earnings and dealings as P2P becomes more digital and personal than before.

For those who are crypto traders, what social media has done in terms of being a channel for providing whale signals and potential market shift analysis, makes the relationship between social media and BTC/crypto more than symbiotic.

[radjie]

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

Totally Agree social media is a powerful weapon even kids nowadays watch phones like crazy, Im adult but yeah Im watching phone like crazy too Good news till bad news about crypto is on social media so that its why social media and cryptocurency is just like a friend

and become one of the biggest tool to promote new coin/token. even myself scrolling tweets to see some newest crypto news

Despite that most of us here discover bitcointalk through the social media or websites and google search of any related keyword that goes along bitcoin, this is a digital currency that has to do with diverse opportunities and people like the fact it's informative and educative, with the use of this same social media we can have the bad and good experience out of it depending on how we were able to utilize it for our own good and benefit, and our children should rather be exposed to this as well when we feels it's more secure for their age.

Agree with that, some people I'm sure know this forum from various social media with similar search about Bitcoin. Even though there are also those who know about it from colleagues around them, to broaden their knowledge about cryptocurrencies of course by utilizing social media, as well as new projects using social media as the main marketing tool to attract more investors.

[Raflesia]

For this condition, I still feel that social media is only an option to introduce bitcoin, regardless of everything you say, in the end, this does not change the fact that whether or not social media exists, bitcoin will still be looked at in other ways, it's just that when talking about social media, maybe there are more things that can be obtained but it also depends on the user himself. Because what I know and feel right now is when it comes to social media, their algorithm is about what we're looking for or maybe what we like. when indeed we are interested in bitcoin then some references will appear but if we don't even know and never find out about bitcoin then it will also never be there for you because the algorithm is based on what you search for and like.

[armanda90]

Can't be separated the relationship between the media and Bitcoin, learned last three season when ICO project of cryptocurrency success sold out on public sell how enthusiastic promote on social media and make investor interested for investing there. Exactly has two impact and relationship between social media and bitcoin, when bad news publishing by media without few minutes price of bitcoin going drop. But instead when media publishing with positive news about bitcoin without few second bitcoin can reach up suddenly and looks fantastic the power of social media impact for bitcoin and cryptocurrency.

Hope one day later social media has good relationship with bitcoin and consistent publishing positive side and as soon possibilities hide with bad side from bitcoin.