Quote from: SmartGold01 on Today at 04:01:38 PM

Social media also affects newbie's investors meaning they might get a fake news on media thinking it's an automatic information, like for an example, a famous influencer tweets about a particular coin and tokens people might rush to buy such token or coin without knowing that it was just a trap planned for people to fall prey, after they might have invested heavily the project may end up sinking leaving people with regret.

Exactly social media is a place where scams are spread easily because if the gen z are lazy to actually varify anything and the problem is they idolizes this so called investors and once a promotion is spread through it, they accept it just like that. I would say social media has help the circulation of news or growth of technology but one area it is hurt is the area where new generation are becoming more lazy for research which makes it easier for Ponzi schemes to grow.

Quote from: KiaKia on Today at 04:03:19 PM

Instead of doing your own research on anything you decide to listen to people and make decision on what you are been told, it's the same way the media is brainwashing the masses, it's the same way religions are use to put millions of people in sleeping state where they don't know what's going on and yet same religion is the cause of major wars happening in the world since years ago.

I don’t blame social media base on this effect but rather the people that fall into this trap. Even when it wasn’t rampant scam projects or Ponzi schemes where spread because people are just greedy to get rich quick not that they don’t varify information but they just want to try them out and that is why there various crypto scam projects are continuing to be developed and still get investors. Take this forum for example upon all the efforts spread for people not to engage in deals with some forum members you still find people being scammed by those users simply because of greed.

Quote from: Bruce4 on Today at 02:39:29 PM

However,social media impacts has reached greater heights by the massive and increasing influence that it has on digital currencies like bitcoin.

I would say social media has had great impact on just spreading awareness of cryptocurrency and has impact on Altcoins because of the Airdrops, ICO news spread there but as for bitcoin they certainly do not have any impact rather it spreads just short term FOMO or FUD. The likes of Musk can’t impact a bull run on market just like you started this things they do is just FOMO. Most of these social media influencers buy bitcoin during halving period because they know it is going to pump and most people think it is them impacting the price.