I really don't understand the motivation behind creating fake news about Bitcoin and sharing it with the world via Twitter. It's not a new phenomenon; it has surely been happening for years now. Perhaps people are trying to artificially inflate the price, perhaps it's my fault for using Twitter to try and find the latest Bitcoin developments. Regardless, I don't quite get it.
Examples of Fake Bitcoin News
This tweet was shared to me by a friend:
Now, a quick search of Twitter will reveal the same tweet posted over and over again, by the same account and by others. You can see how it spreads, and other people re-share it, claiming it as news. An extensive Google search reveals no sources backing this claim that Tesla is starting a solar Bitcoin mining farm. What's interesting is the timing here: this tweet was posted four days ahead of Tesla Q2 earnings report, which was July 26.
Here's another one, just posted tonight:
Interesting timing on this one too, as Facebook just reported Q2 earnings today. Perhaps you're wondering exactly how I debunked this one? Well, aside from an extensive Google search, I pinned down the website used to create the "newspaper clipping"
Check it out for yourself - https://www.fodey.com/generators/newspaper/snippet.asp
Now, it was rumored around Facebook's Q1 ER that the company would be buying Bitcoin. What kicked off this rumor? CEO Mark Zuckerberg shared a picture in May of his two pet goats, named Bitcoin and Max.
Always Check Sources
Now, these are just two examples of fake Bitcoin news that runs rampant on Twitter and across the internet. It should go without saying: always check the source. Try to verify claims by searching Google, sorting by latest (past hour/past 24 hours/past week). The old saying of "you can't believe everything you read" remains true, even as the formats of how we read evolve.
Most of all, use your head. If it's just an image (especially in a meme format), it's likely fake. Be skeptical, be an investigator.
In case you haven't realized, the thumbnail for this blog post is FAKE.