I tried to explain what DYOR is in comic strips.
I explained what DYOR is and how it will be used in a particular situation.
Some Takeaway
DYOR or Doing Your Own Research is a motto against crypto fraud. Since crypto was introduced in 2009, the valuation of cryptocurrency has increased dramatically. Many people who left out of such a movement started to regret and want to join without any rational mind. They try to get in as fast as possible and get out through a get-rich-overnight mindset. However, it does not play out well as we all know that. Many fall into scams and fraud.
How to DYOR
What to look for when you research? There will always be a greater promise with the project and an awesome roadmap to users. How can investors judge? The landscape of crypto has been drastically changed since 2009. However, everything can be revealed in the blockchain.
Research into Blockchain
Blockchain is a great place to reveal many secrets. Investors will start to dive into blockchain data in the first place to research. But more importantly, the creator of such a crypto project will be under scrutiny. Their holdings on such tokens and how they are distributed is a way to reveal some hidden secrets about the real purpose of the project.
Flat vs. Pyramid
If the crypto project creates a pyramid, their core team will have more funds than the public. Likely such a project will not survive in the long term. The Crypto project is mainly toward decentralization. It encourages everything to enter and possess some of the assets that they can use. Creating a pyramid-like structure will slow down the growth of the project. Since the crypto space evolves faster than usual, such pyramid organization will soon be left out. While a flat organization may move slowly, the organization has dynamic characteristics that can change itself to fit into an ever-changing environment.
Against Scams
However, many scams target the target audience without their due diligence. It is then critical for investors or participants to join the crypto space with their own research. Many social media platforms will promote crypto projects blindly and many viewers should be aware of such promotion without influencing your own decisions.
In conclusion
DYOR is a great way to learn crypto. It is a crucial process that users should do before even ever putting their own money into the project.
Photo by Hans-Peter Gauster Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
Digital Commodities- the Unlimited Resources of Commodities Has Born
Universal Income in Crypto Way
DeFi 1.0 is Officially Dead - Welcome to DeFi 2.0
How Many Ads Are Too Much - Floki Inu Ads Got Backfire
Bitcoin ATM Adoption and Its Potential Security Vulnerabilities
When Corporations Are Running By Everyone
The Fundamental Value Is Irrelevant
Coinbase At Huge Reputation Crisis
Regulations Start Hitting Crypto Exchanges
From Bitcoin Standard To Zero-Knowledge Proofs - Decentralization 2.0
Shiba Hits 1 Million Users (Army) Milestone: What is Next?
How To Avoid Crypto Scammers
Shiba Game - When Meme Meets Metaverse
Twitter CEO Steps Down - A Full-Time Bitcoiner
Change of Macroeconomy Landscape
CBDC Is Losing The Game
Brief History of Ethereum and How Ethereum 2.0 May Over Promise
Who Cares If Craig Wright Is The Real Satoshi
Institutional Investors vs. Whales
A Proposal To Move Bitcoin Mining PoW Away
IMF Keep Crying Out, Crypto Adoption Keep Accelerating
Dogecoin Is Back to Top 10 But The Moon Shot Is Looming
How to Avoid The New Wallet Scam
Defi Enters To Crypto Bond Phase
What Types of Metaverse You Want
Global Regulations Are Coming Or Can They
IMF Did Have A Plan to Run Global Regulations
A New Malware Will Steal From Telegram
Smart Money Is Out, Institutional Money Is In
Airdrop?! Not So Lucky Anymore!
2022 Prediction #1: L1 Scalability
2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
2022 Prediction #4: Regulated Defi On-Chain KYC
2022 Prediction #5: Institutional Crypto Adoption
2022 Prediction #6: Defi Insurance
2022 Prediction #7: NFTs-Based Communities - DAO 1.5
2022 Prediction #8: Metaverse and NFTs
2022 Prediction #9: Web2 Companies’ FOMO
2022 Prediction #10: Time for DAO 2.0
Crypto.com Backfire - When Centralized Crypto Service Panic
Coinbase Customer Service Alive
When You Want Someone Forget About What You Did, Just Change You Name
When YouTube Enters Into NFTs
Facebook Just Did the Rug Pull
Bridging Between Web2 to Web3 Through NFTs
Who Is The Winner of The Crypto Adoption
What You May Expect NFTs After 6 Months and Beyond
Wormhole Hack - It May Not Be a Bad Thing
Lessons Learned From Wonderland DAO
Crypto Comics - Who is Satoshi
Crypto Comics - What is Wallet
Crypto Comics - What is Coinbase
Crypto Comics - What is A Block
Crypto Comics - What is DeFi-2
Crypto Comics - What is Yearn Finance
Crypto Comics - What is Cold Wallet
Crypto Comics - What is Hot Wallet
Crypto Comics - What is Airdrop
-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
