The Cult Syndrome in Crypto and How to Recognize It .:. Late Night Blogging
I have watched an interesting YT video where some guys were debating about some of the recent crypto projects that went down the drain (or are currently struggling) lately... The debate that they had was leading to the "cult syndrome" that we can see very often in crypto, but also in some other parts of life... This title that I put up is maybe a bit too heavy, but I will try to explain my point of view...
Now, one of the first things that can make confusion is, is there a difference between a "maxi" (Bitcoin maxi, ETH maxi, HIVE maxi...) and a "cult member"? I think that there is, but if we go into the core it can look like they are the same thing.
In modern English, a cult is a social group that is defined by its unusual religious, spiritual, or philosophical beliefs and rituals or its common interest in a particular personality, object, or goal.
Created in Canva.com
IMO, the main difference is that, for example, BTC maxis believe in Bitcoin, or to be more exact, in its technology... But, in a way that there is no other blockchain/project that CAN, or even COULD do better than Bitcoin... It's a bit weird thesis as if you do believe in Bitcoin (which was a new tech in a certain period of time), you believe in tech in general, and tech is always improving... So, Bitcoin maxis ignoring the base of what they believe, as they ignore new tech in all that stubbornness that there is no other than BTC... Is this Bitcoin maximalism contradictory to itself?
Now, if we go into the "cults" in crypto, the first token that comes to my mind is HEX... After that, I would say that even LUNA was a kind of a cult... Celsius isn't far away either... and there are many, many others that could be added to this "cult" basket...
Created in Tenor.com
Now, what could be the difference between them and, for example, BTC maxis? I would say that there are a couple... First and more important, the whole system spins around 1 person, that is praised and adored by everyone in the cult... Everyone knows the name of the project creator, but not everyone knows how it works, or what it does!
Richard Heart, the creator of HEX, is one of that kinds of people... It is undoubtedly an intelligent person who knows how to control people and their emotions... That's the most important quality that every cult leader has to have!
The second important thing is the complexity of the project... It is always something way too complicated (without any need to be), usually to hide tracks and suspicious activity, and it's hard to explain how it works... You know the basic things, but never enough deep to understand it all... That's the main problem why people who do the research, don't get into it! Or, if they got into it without knowing, as soon as they figure it out, they go out!
Created in Tenor.com
This leads us to the third thing which is a member base... If you take a look at the main "investors" (if it is transparent), you will see a leader on top, and most other unknown people as the rest... That's because those projects deliberately go after the easy money, after people who are the most vulnerable... Those are, or either newbie in crypto, or elder people...
As proof for the first group (newbies), ask someone from your surrounding about tokens that they know in crypto? I did that many times among my non-crypto friends, and I always heard from them about some tokens that I have never heard about!!! Or they were shady af... Answer would be BTC, and... Shiba Inu, HEX, or that Moonsomething that died, etc... That is the majority of "investors" in "cult" projects...
I would like to add one important thing about how to recognize "cult leaders" as it could help you in life and save some money probably... Usually, cult leaders are people who aren't "recognized" by other respected people in the industry... Now, that's a great excuse for them as they are "visionaries and nobody understands them"... But if nobody from the "respectable" community is supporting them, that should be a huge red light and alarm to stay off...
Another important aspect is the huge EGO that those people have as they can't make mistakes... That gives another psychological level of (fake) confidence in what they have created and triggers the blind following by members without raising questions... Speaking of questions, if you do that, you are almost 100% kicked out of the cult, as the leader is impeccable...
Let's talk about HIVE a bit... As HIVE doesn't have a "one leader to rule them all", it's hard to say that we are part of a cult, but we can be HIVE maxis, that's for sure... On the other side, speaking of Hive-Engine tokens, we definitely can say that we have some cults there... Even the name "tribe tokens" says that... 😃
Created in Tenor.com
And for the end... I suppose that many readers will agree with these points, but I'm sure that NOBODY will recognize that it is in a cult... That's the main issue as it's hard to realize that when you are IN IT...
These are my own opinions and you can agree or disagree with them... Either way, I would like to hear your opinion about it! Use the comment section wisely... 😃
Thank you for your valuable time,
Don't forget to follow, reblog, and browse my Hivepage to stay connected with all the great stuff!