DYOR - thank you Crypto Youtuber for nothing

This has been something that has been slowly nagging at me for quite some time. Probably sins I got into crypto in the first place if I am being honest. But the most recent actions of Bitboy suing Atozy have made it boil over. So I thought I would take this post to discuss the topic of Crytpo Youtubers, and why they exist.

DYOR and why I hate that disclaimer

Also known as Do Your Own research. But what does it mean when you hear a crypto youtube say that? Let us see if we can figure that out. the DYOR disclaimer is mostly used in the type of video that showcases a crypto project. Meaning the youtuber tells you information about the project. And then usually end the video with the DYOR disclaimer.

So what does that statement mean? Do they mean that "hey this is my research, you can't use it. You need to go do your own"? Well, that can certainly be the case. But I would argue that it is pretty stupid to make a youtube video and make the video public if that is the case. They could just keep it private after they uploaded it, allowing basically only them to see it.

The Circus, the classic and timeless source of entertainment

Maybe it is because the video is meant as entertainment and not as information. But if that is the case either I have the worst sense of humor, in like ever. And that might very well be the case, it certainly would not be the strange thing people ever had accused me of. Or, more likely the videos are not intended as entertainment.

There must be some other reason for them to mention DYOR. Is it perhaps because projects change and don't stay the same, and they do not want to be blamed for providing the wrong information or outdated information? Well if that were the case then I would imagine that there would be quite a lot of people bringing forth their pitchforks in the next month or so if they were to watch an old video about Ethereum.

And if the norm is projects change often or fast, then I would not really see the need for them to provide the DYOR statement. You don't see people being upset about old news? Not even old financial news. So there must be some other reason, right?

It might be that they are the biggest internet trolls out there, doing these types of videos only to in the end invalidates everything that was said in the video by telling you to go do your own research. What I for one certainly would find that hilarious, I kind of think that it is reaching a bit far to think that all the crypto YouTubers are in cahoots trolling everyone watching their videos.

Then perhaps is it because they do not cover every aspect of a project? That could certainly be one of the reasons. But I do feel that if it were the case they would just say that they have not covered all aspects of a project, right? So there must be some other more likely reason for them to use the DYOR disclaimer...

Well, their sort of is. And that would be if they knowingly portray something in one way, and that way would be true. But not the full truth, or the sugarcoated version if you will. What I mean by that is you can pretty much paint anything in a very positive and favorable light if you want. Let me show you an example.

Things are and are not always as they appear

Would you perhaps be interested in this phenomenal product? It is used to create jobs for people around the globe, enabling them to earn a living and provide for themselves and their families. Also, it is directly responsible for providing nutrients to almost every human on the planet in one way or another. And now offer you this exclusive deal where instead of having to buy your nutrient throughout your lifetime, you can instead buy all of this in bulk now and get it much cheaper. Yes, that sounds good, right? Well, congratulations you just bought several tons of manure, aka shit.

Had I on the other hand simply said, hey do you want to buy a few tons of shit? You probably would not have been as interested. And yet both versions are true. Can this be the reason why they use the DYOR disclaimer on these types of videos? Well, it certainly can be. But why would they choose to do that, certainly their goal is to inform and educate their audience right?

Sure, that might be the case. But I would argue that a far more likely reason is that they got paid to promote the project. I see far too many videos where they talk about an up-and-coming project while the very same video is sponsored by that same project. And guess what, if you call out a project for being let's say a ponzi scheme, instead of saying it is offering 100,000% daily APY with 1 min automatic rebasing. You would not get very many projects looking to sponsor you and your videos.

Personally, I think that this is by far the most likely scenario, sadly. *But I might have missed something obvious, and if you can think of another likely reason for why they keep sticking that annoying disclaimer in all of those videos then please share it with me down below in the comment section, along with any other thoughts you might have on this topic.

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See you on the interwebs!

Picture provided by: https://pixabay.com/, youtube.com/watch?v=oWfFco7K9v8