What does DYOR mean?
DYOR is an acronym for “Do Your Own Research.” Just like you shouldn’t buy stock in a company you never heard of before – or buy a Rolex from a guy you just met in a bus station bathroom – you should not buy a coin or token you haven’t yet researched.
Why Is It Important to DYOR?
“Do Your Own Research” is not a new concept. The idea that you should know about what you’re buying before you buy it must be thousands of years old by now, but it entered English common law (upon which American law is established) in 1603 as the notion of caveat emptor – Latin for “buyer beware.”
The case itself is called Chandelor v Lopus. In brief, a man paid £100 for a special stone that he believed to have magical properties. It turned out not to be the real deal (by magical stone standards), but the judges presiding over the case ruled it had been the buyer’s duty to verify the authenticity of the stone before purchasing it. In other words, Chandelor should have done his own research.
DYOR entered the crypto lexicon during the wave of initial coin offerings that flooded the market around 2017. Several new companies sought to raise money to create new apps, services and coins. Many of these were legitimate and genuinely intended to deliver on their promises. Many others were vicious scams created with the sole intention of draining unsuspecting investors’ coffers. Investors were thus encouraged to DYOR, lest they might become the next casualty in the frontier that is the early crypto market.
People often include DYOR as a disclaimer when they offer their own crypto tips. This is fair, as doing so means they’re not promising their advice to be solid gold. As a disclaimer, DYOR essentially means “Don’t place all your trust in me. If I knew everything there is to know about crypto, I wouldn’t be spending my time tweeting or blogging.”
DYOR isn’t exclusively offered as crypto advice. Nowadays it’s also applied to stocks, bonds, REITs, hedge funds and marriage.
Conclusion
DYOR: It’s like “buyer beware” for crypto investors. Don’t take someone else’s word for it – research any investment opportunity to death before you soak your hard-earned money into it.
DYOR: Why Doing Your Own Research Is Key in Crypto originally appeared in Libertas Bella.
DYOR?
Seriously?
People who blindly allow foreign material of unknown safety into their bodies without even reading the warning pamphlet? Expect them to do research?
LOL. Even the idea that any more than a handful of people even WANT to understand anything is questionable. Ignorant is the new black.
Research is too much work. People on the TV said it would be fine…
I bet I could get some real work done if I wasn’t always wasting time researching things.
DYOR on everything – that’s like Nietzsche’s “we all have to become supermen.”
a/k/a
A family member needs brain surgery? Train yourself and DIY!
I did DYOR.
Discovered CITB.
.
.
.
(Crypto Is Total Bullshit).
Amen, and awoman
Oh, the gnashing of teeth will only be outdone by the moaning of “Oh shit” when Bitcoin hits $100k and beyond. But it’s okay folks, to be average in accessing what is ahead financially and politically inasmuch as the vast unwashed are below average. You, at least, will have gold, silver, protection devices, and a home out in the toolies. But it is now or never time should you assess the obvious result of the coming financial revolution where bankers get hung out to dry. Sri Lanka anyone?
But what about Ethereum, and Etherion and Ethermeehum – not to forget Lite and Dogecoin and Sagecoin?
Maybe you’ll miss out on one of those!
Grasshopper m, let me tell you a story of the Master whose work was to arouse the inner wisdom of the seekers in his charge. It was customary for the two to have discussions, but the Master sometimes slapped a seeker when he said something that came from an unsound place in the seeker’s repertory. One day the seeker came to the Master terribly excited and said, “Master, Master, when I was meditating, I saw Jesus!” The Master abruptly slapped the seeker across the face. The seeker exclaimed, “Master, Master, why for this hitting? I saw Jesus and want to talk about this!” The Master replied, “Nothing is saved by my waiting for you to speak. Now leave me and return to your breathing.”