Post
Topic
Board Bitcoin Discussion
Re: Crypto misinformation is turning into an issue for people new to the game.
by
dupee419
on 01/10/2021, 13:29:13 UTC
I have seen topics and posts around with incredible amounts of misinformation. Mostly posted by newbies as their first or second post. Most people that have been in the crypto game for a while knows to take most "news" about crypto with a grain of salt. But some people that are newer to it might fall victim to fake information or fake investment "guides" that tell you to invest in some token that is, to an experienced person, obviously a pump and dump or scam coin. A friend of mine who is semi-new to this called me a couple weeks ago frantic, telling me that he had seen a prediction about some random token and told me that he might invest in it if the returns were real. He asked me if he should go for it, and I told him that he looked alot like a scam project. Its a good thing that he didnt put capital into it, because within a week of him seeing this article on the token, the website for it was gone. This is an example of how easily people that are new to this get tricked into losing their capital. Theres really nothing anyone can do about it, but I think the easiest way the prevent scams and slow them down is to educate people that are new to this.

Lack of information is the common enemy when something new is being introduced to people, and since cryptocurrency is on the rise, some people lack the knowledge to actually determine what could be a scam and what could be legitimate, if your friend didn't confont you he would have actually lost his money. D

Fact checking is something that we actually do not do whenever we invest (this is common to newbies who lack information or literacy when it comes to identifying what is real and what is not), especially when we get blinded by the project's fake promises, and then *poof* the site is gone, everything disappeared, and also the money you invested.