Do your own research gone wrong

[YellowSwap]

Imagine asking someone how they do their own research about Bitcoin and crypto then they answer with Twitter.

If you are a beginner I want you to know that X/Twitter has nothing to offer you than Fud, Propaganda nonsense and fake crypto advices.

The best place where influencers can get the best of you is Twitter, over 90% of all the crypto content on Twitter are bad for beginners, they are full of misleading information, so don't go and do something stupid and start blaming Twitter for it, users on that platform are looking for users to turn into Exit Liquidity. They will end up telling you to join their YouTube channel where they will fill your head with more nonsense.

It was on Twitter that I was told that Ledger is the best hardware wallet.
It was on Twitter that I was told to bet more on altcoins because they will turn my life around.
It was on Twitter that I was told mining Kaspa is just like mining Bitcoin in 2010.

Not a single advice worked out, do your own research and don't stop learning, this forum was more than enough but I choose to listen to influencers I have learned my lesson.

[letteredhub]

This all depends on the personalities you're following on twitter. Before you follow any user on X you must have to do your own due diligence. There are personalities you would never regret following them on X, especially those seasoned bitcoin maxis. Perhaps you can always start with Bitcoin Archive and Bitcoin Magazine. There are host of other good suggestions I believe preceding replies would share too.

[Realwhot]

Many people do not know what doing your own research means. Social media is not part of the kind of places you want to do research about something like Bitcoin or security and decentralization. Many of the things that all this influencers say on Twitter and other social media platforms are because they want to have engagement and make money not because it is the real information.
You cannot even rely on Google these days because of advert. If they pay an influencer he will tell you that trust wallet is the safest wallet.

[noorman0]

This doesn't mean conducting your own research by relying solely on one source and then blindly believing it. Good research also looks at counterpoints and compares them. And one should have sufficient literacy.

X is not a neutral platform for in-depth research due to filtering algorithms and prioritization of paid users.

[NeuroticFish]

Imagine asking someone how they do their own research about Bitcoin and crypto then they answer with Twitter.

Well.. DYOR is not an easy job. Imagine that most rely on what the officials say, and in most countries the central bank officials are still on the old "crypto is scam" or at least "crypto is too risky" page.
DYOR means reading all the sources you can, see what is the duplication and noise (both hugely present in social media, newspapers and also preached by officials).
DYOR means reading popular and unpopular opinions too.

I've learned over time that Bitcointalk covers this pretty good. There are shills here too, but also a lot of smart people. Of course, it takes time and patience and a new investor wannabe or even (omg) a new trader wannabe lack exactly patience.

Finding and filtering the duplication and the noise is very difficult and can too easily go wrong, because subjectivism also kicks in. And one may pick as "good" the parts that map better with their wishes and expectations, not with what is actually real. And, you know, the commercial looks better than the product. (PS. Interestingly, similar problem occurs with politics and voting too.)

[Bitcoin_Arena]

If anything, one of the best places to DYOR about crypto is this forum and maybe a couple of Subreddits because at least they are moderated. Twitter or X.com is a wild place with different kinds of people who have different agendas.
I wouldn't trust any information from there 100%. Instead, what I would do is compare the information I have research across different platforms, but preference would most be communities or forums.

[Mpamaegbu]

It was on Twitter that I was told mining Kaspa is just like mining Bitcoin in 2010.

Kaspa isn't a bad project if you asked me. It may not come anywhere close to Bitcoin in terms of what it can achieve but that doesn't mean it can't achieve much. It can. I've a few and I'm looking at getting more. On the part that people compare some alts with Bitcoin, it's like setting up an ant with a rat in a wrestling contest.

Not a single advice worked out, do your own research and don't stop learning, this forum was more than enough but I choose to listen to influencers I have learned my lesson.

It's unarguable that this forum still stands out as the best stop for crypto knowledge. Most finest brains in this industry started here or have graced this forum once in their life time. Users here have time to teach those who are ready and willing to be taught. Most influencers are just after their paychecks. They know next to nothing in this field.

[Zaguru12]

Not a single advice worked out, do your own research and don't stop learning, this forum was more than enough but I choose to listen to influencers I have learned my lesson.

I don’t see anything bad going to Twitter/X to get information, what I see wrong there is trusting that information blindly and actually acting on it. If you’re for bitcoin or doing research about bitcoin only I can tell you that this forum is the best place to actually get that information but would I also tell you to blindly follow the information here too blindly? No! No one is actually telling you that.

DYOR research doesn’t limit one from getting any information from a particular place and neglecting other places the only thing we will tell you is that every social media outlet or influencers are least place for you to get any authentic information from, so any information there are simply just worth triple checking.

As for DYOR on Altcoins, I will tell you this for free you can never get any right information about them, it’s either they are promoting the crimes or the other way round but at the end of the day you are still risking your money on them and no amount of DYOR can save you from that

[albon]

Twitter can be useful for following communities and updates.

However, Twitter (X) should not be the primary source of our research nor should any other social media platform. This is because it has become a haven for fake and impersonated accounts. So many accounts on Twitter promote scam coins and phishing links, and new projects or platforms with exaggerated promises.

Additionally, any influencer with a large following will recommend and promote their business partners as their primary concern is ultimately financial gain, and some content may be designed to generate controversy and boost engagement... Therefore, what the OP posted here is good advice for beginners.

[casey15]

Anybody making research should know that you don't get information from one place alone... Yes you may want to start on Twitter. But there just so many fake information especially from people trying to sell you a course.
Even in academic research, you don't get your literature from one source alone. So as much as you think Twitter gives good information, there are platforms too thy are solely design for cryptocurrency knowledge for example this forum... They should be your bedrock of information.. verify what ever you hear  outside on Twitter on these platforms.

[Figerland Shamrock]

Because Ledger is the first hardware wallet to be launched, this is almost the same time as Trezor, unfortunately Ledger is a closed source so many people don't like it.

On Twitter many influencers promote altcoins, it could be that they become ambassadors so they continue to tweet altcoins to get more views.

You can see the Kaito platform where all influencers continue to promote the newborn shitcoin. Because what they want is a big reward while not caring about any losses to others including their followers.

I don't know about Kaspa just a glimpse of reading the transactions in this coin so fast it only takes 10 seconds for full confirmation, Kaspa also has the same halving time process as bitcoin.

On Twitter there is an algorithm where when you search for altcoin news too often then the page on your twitter will have more altcoins appearing on the homepage.

Don't rely too much on Twitter, there are still other sources that are more relevant and good for doing the research you need.

[yudi09]

BitcoinArchive, planB, bitcoinmagazine, and several other figures I follow, and I find all of their content informative and full of analysis. None of their tweets are binding, because whether you agree or disagree depends on the reader.
Not all platforms are bad and misleading, and not all accounts on various platforms write trash content, but it depends on who you follow.
I enjoy browsing Twitter because it's fast, and the figures are more active there.

[boyptc]

Research means that you'll merge all information that you have gathered from various resources. While it's true that majority of the sources in Twitter(X) are not reliable.

There might still be some of them that could be beneficial and informative. Maybe out of 10, there can be one good honest influencer there.

But it only means that don't rely on that platform when we've got a lot of resource and just maximize the usage of internet when you DYOR.