The Doctrine of Fear and Uncertainty
Recently, the crypto space started experiencing a downturn which is being blamed on FUD. This fear and uncertainty is based, according to market analysts, on news coming out of China in most cases. It seems that after every news bulletin related to Bitcoin, the price of the coin drops and this affects the market. What this means is the human aspect of the blockchain protocol is not immune from attacks.
I saw a chart today, which speculates, I have no proof, that the Chinese government owns over a hundred thousand Bitcoin. If this is true, then each negative news bulletin related to Bitcoin coming out of China is a deliberate attempt to destabilize the market for profit. Unfortunately, while China with her large blockchain vested population is cashing in on people's emotions, other countries are contemplating whether to accept cryptocurrency as legal tender or to ban the trading of any crypto in their territory.
It occurs to one that this utility of information to disinform is a very formidable tool and the Chinese government is not the only one who utilizes the gamut of the propaganda machine. From Hollywood to United States News Agencies, from France to Russia, Malaysia to South Africa, Nigeria and so on and so forth, the information service is arbitrarily used not to deceive enemies as it was during the cold war, but rather to deceive citizens. It implies that if the populace of China, for example, should know the truth of things, they will find it unacceptable. It also implies an infantile concept of the people's ability to comprehend government's motives.
Again and again, history is rewritten, heroes are made villains, terrorists become democratic heroes, indigenous peoples are written out of existence, languages are cremated and ethnic groups are denied their ancestral land. This is not news. We have become so jaded, so distracted with trying to survive each day that the next lie means nothing to us beyond a sigh of resignation.
Looking at how Haiti has been demonised by the United States, the so called proponent of freedom, the supposed father of modern democracy, it doesn't take long for you to identify how world governments manipulate their citizens into accepting viewpoints that make no sense. The government will say they do this to ensure their sovereignty but in the long run, someone is wounded, someone who is a citizen of said sovereign state.
As disseminators of information, those who identify as writers play a role in this process of misinformation and disinformation. A piece of writing can go a long way in cementing an idea in any one. This power is being abused in the name of the state. Tyrants dressed in democratic costumes are using this power freely and openly and writers have not been able to fight this abuse.
Even platforms who attempt to act as gatekeepers, picking which content is suitable for consumption often fail to prevent false narratives from slipping out into the world and in some cases, they do nothing to prevent because it serves a purpose. At the end, they are not fully convinced that the creative world is sacred and as such should be respected. It is this same limited view on art and crafts that make it easy for content creators receive poor renumeration for their efforts and when you are broke, any offer might seem interesting no matter how offensive it may be.
The content creation platforms on the hive chain are an offering of spaces where content creators can speak outside the control of gatekeepers, at least to an extent. Even with this power, we do not often get people to talk about the painful truths that we meet daily. Writing without anyone breathing down your neck, checking every phrase for hidden meanings can be refreshing. If you can control your content, if you are allowed to speak on your passions, what will you talk about?
The experts on blockchain tech and market are here. Blockchain protocol creators are on the hive chain. It is their duty to create new ways of seeing this our world and for us who use these products, who test the efficacy of these new possibilities, it is our duty to show to the world that it is possible for you to get untainted information, learn things outside historically innacurate textbooks.
The major thing is for a blockchain user to be able to divorce themselves from the cryptocurrency aspect of things to an extent. We should begin to look at blockchain projects as solutions to real life problems. The moment we follow projects that seek to make this earth a better place and human living more pleasant without destroying other lives on the planet, then we will begin to see Blockchain technology as a tool for change.
It is this lack of interaction with the vision of most blockchain projects that makes it easy for FUD to affect the market price of Bitcoin and other alt coins. If we are invested in what these protocols are out to achieve and become less focused on how much their governance tokens are worth on Binance, we would begin to process the idea that this is more than a money making venture and as such whenever a fraudulent news item comes our way, we will not only be sure enough to know if it is true or false, we will be confident enough in our knowledge of the project to stick to it.
I say these things aware that people often lack financial freedom and for a lot of people, myself inclusive, whatever profit or reward they get from their blockchain interaction goes into their daily expenses. This is the reality but I am sure if one can believe the work being done is worth it, it might be more difficult to throw it all away.
This present dip in prices will go and people will pour back into crypto trading. It is going to be hailed again as the greatest miracle of the financial world in recent times. A lot of noobs will pour in, eager for the quick riches that they have been hearing about. They will not invest in trying to understand how Blockchain technology works. They will make and loose money and because of this lack of knowledge, governments will manipulate, capitalise and ensure that big business does not loose its profit.