Is Cryptocurrency a Cult?
Cryptocurrency has been around for over a decade now, but it is still a relatively new technology. As such, there is much debate about its potential and its risks. Some people believe that cryptocurrency is a revolutionary technology that has the potential to change the world, while others believe that it is a scam.
One of the main criticisms of cryptocurrency is that it is a cult. This is because cryptocurrency enthusiasts often exhibit cult-like behavior. They are often very passionate about cryptocurrency and believe that it is the future of money. They also tend to be very distrustful of traditional financial institutions and governments.
There are a number of reasons why people might believe that cryptocurrency is a cult. First, cryptocurrency enthusiasts often use cult-like language. For example, they often talk about “hodling” their cryptocurrency, which means holding onto it for the long term. They also often talk about “to the moon,” which means that the price of cryptocurrency is going to go up very high.
Second, cryptocurrency enthusiasts often use cult-like tactics to recruit new members. For example, they often use social media to spread the word about cryptocurrency and to encourage people to invest in it. They also often hold meetups and conferences where they can promote cryptocurrency to others.
Third, cryptocurrency enthusiasts often exhibit cult-like behavior once they have invested in cryptocurrency. For example, they often become very defensive of their investment and refuse to listen to any criticism of cryptocurrency. They also often become very distrustful of anyone who is not a cryptocurrency enthusiast.
So, is cryptocurrency a cult? It is certainly possible to argue that it is. However, it is important to remember that not all cryptocurrency enthusiasts are part of a cult. There are many people who invest in cryptocurrency for legitimate reasons. However, it is important to be aware of the cult-like behavior that can be associated with cryptocurrency before you invest in it.
References:
- Golumbia, D. (2016). The cryptocurrency craze: How Bitcoin, Blockchains, and NFTs are changing the world. University of Nebraska Press.
- Lewis, M. (2018). The fifth risk: The future of everything in a time of radical uncertainty. W. W. Norton & Company.
- Schneier, B. (2015). Data and Goliath: The hidden battles to collect your data and control your world. W. W. Norton & Company.