This image has been making its way around the Internet to recruit fresh blood into the BitCoin pyramid scheme. Its prey: those that aren’t thinking for themselves and are looking for a way to get rich quick with no effort. It targets people easily persuaded by news of others making easy money, and a meme like this gives them comforting rationalizatio… Read more
Who cares that BitCoin dropped 50% in 10 days. It has gone up 1,000% in the past 10 months!
This persuasive line is not specific to cryptocurrencies, but to any pyramid scheme. For the impatient and greedy, the statement reads like “get in now and join the party or miss out forever”. For anyone that stops and thinks about it critically, it tells y… Read more
In this edition of DBP (Debunking BitCoin Propaganda), I am not going to attack the premise that the blockchain algorithm solves a decentralization problem. It does. By distributing the information among millions of clients it becomes very difficult to manipulate the ledger, thus all “coins” that exist in the ecosystem utilizing any o… Read more
It’s what cheerleaders do best — chant team slogans and optimistic phrases to psyche up the home team.
Here’s a slogan I see peppered throughout financial message boards, particularly in threads that dare criticize cryptocurrencies:
You can’t efficiently transact with [BitCoin], but the same is true with stocks
A bit of paraphras… Read more
Three cryptocurrency articles in one week.
It’s hard to ignore cryptocurrencies when given another historic opportunity to witness mass hysteria in real-time, this time in a field that I’ve essentially studied my entire life (computers, math and engineering).
Only in the past decade or so I dedicated more time to study psychology to comple… Read more
My Debunking BitCoin Propaganda series of articles during the boom-and-bust period of cryptocurrencies was relatively well-read, mainly because it takes a step back from all the noise and carefully dissects the loud cheers and platitudes crypto pumpers were using to drown out rational thought.
Considering the accurate forecasting of those articles, … Read more