Social media and the crypto space
Have you heard a rumor, or do you want to confirm the news? Social media is a click away, and you are likely to get the full story, which may even be adulterated. Here in Nigeria, social media plays a vital role in promoting or downplaying an event, which necessitated the federal government placing certain restrictions and fines as regards the use of social media. The spread of fake and unverified news has also contributed immensely to actions such as what may be termed defamation of character.
UNVERIFIED NEWS
I remember going for a panic buy of the electricity tariff last year upon hearing that the tariff was to be reviewed upwards. We bought a token worth ₦15, 000 and ended up having it wasted, as we were told the meter needed to be reconfigured after we delayed loading the units. That was a disadvantage, do you agree? I remembered the same last year, in May, to be precise, when I heard the fuel subsidy was removed here in Nigeria. I went straight to the fuel station, filled my tank, and bought another in a 25-liter keg. And as expected on the following day, the price of premium motor spirit (PMS), also known as petrol, shot up. The fuel I had saved me for a while, and for at least a month, I did not buy fuel as I only managed that which I had purchased, being frugal with what I had. It was only a matter of time before I joined the many Nigerians to buy fuel at the spiked price.
Now, if you knew me on WhatsApp beyond Hive, you'd know my status is often decorated with memes, and I have been named a'meme lord'. I have realized over the past few years of updating my WhatsApp status with memes, news, and co. that some things were actually untrue, which I immediately put down. My caution has been to only update verified news and such from reliable sources. This approach keeps my reputation reliable.
LOCAL NEWS
I like to stay informed rather than deformed with information, and this takes me to social media every day. I used to love breakfast sessions on the Nigerian Television Network every weekday by 7 a.m., where national news was broadcast, but I stopped since power supply was not regular and, more importantly, the news I kept hearing was not mentally okay for my health, which ranged from kidnappings, deaths, complications from economic hardships, increased cost of living, etc. Nonetheless, I enjoy listening to news with the hope that I won't hear news that would dampen my spirit.
The social media has influences on the crypto space. I remember Elon Musk once giving a symbol as it related to a message application and within few hours, the value for the message app shot up. Crypto enthusiasts often rely on market speculations to influence their stakes and investments in the crypto space. Recently, Kucoin had an issue and many users withdrew their funds and investment from the exchange. That is one of the impacts of news and social media!
The social media remains the playing ground to stay up to date about the crypto space. Many of us are looking out for news on NOTCOIN for example which came into the crypto space early this year, involving many users.
CRYPTO NEWS
Even the layman has heard of Bull Run, which is probably a result of social media. A few people have gone further to understand why this period is referred to as the bull run. Sometimes last year, I got checked upon by a few people since I usually posted about CRYPTO opportunities and news. The market was unusually red, and these people thought it wise to check on me. Of course, I appreciated their gesture. Cryptospace is not for the faint-minded. I have had my gains and losses, and thankfully, my gains have been greater.
I love Hive, especially the solid structure and confidence it gives. My recent direction has been in the pursuit of #airdrop, in which I have begun to see some green light. I started early this year to actively hunt airdrops, but I have mined and benefited from airdrops for some years now. My little earnings from Hive have been channeled into transaction fees for some of these airdrops. Just yesterday, I got a little token allocation for the #nibiru airdrop as an example, which was a result of a few tasks and verifications done.
The #crypto space holds numerous opportunities, but one has to do diligent research, be informed, take calculated risks, and have a strong mind to survive the unpredictability of the space.
Here is my entry into #aprilinleo monthly and daily prompts. You can participate via this LINK
Thank you for reading. I would love to have your comments and contributions.
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